SOUTH CAROLINA FORECLOSURE ACTIVITY DOWN 6 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Foreclosure Total Up 1 Percent From November 2006

 

IRVINE, Calif. – Dec. 19, 2007 – South Carolina reported 526 foreclosure filings in November, a 6 percent decrease from the previous month, but still a 1 percent increase from November 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

South Carolina foreclosures have decreased in November,” said James J. Saccio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciation rate was above the national average during the past year and that its unemployment rate is currently below the national average. These factors are likely contributing to the recent decline.”

 

South Carolina ranked 34th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 3,665 households ranked it 42nd among the 50 states.

 

Three counties account for most of state’s foreclosure total

Three counties accounted for 52 percent of all foreclosure filings in South Carolina for November. Richland County reported the highest foreclosure total for the month, with 136 foreclosure filings. Charleston County posted the second highest foreclosure total, with 80 foreclosure filings. Lexington County registered the third highest foreclosure total, with 56 foreclosure filings for the month.

 

Richland County post highest foreclosure rate

Richland County reported the highest foreclosure rate in South Carolina for November, one foreclosure filing for every 1,072 households — 3.4 times the state average. Sumter County posted the second highest foreclosure rate, one foreclosure filing for every 1,333 households — 2.8 times the state average. Lexington County posted the third highest foreclosure rate, one filing for every 1,780 households — 2.1 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in South Carolina accounted for less than 1 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

South Carolina Foreclosure Market by County – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

South Carolina

0

6

81

45

394

526

3,665

0.17

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

0

0

n/a

0.00

0.00

Aiken

0

0

0

1

10

11

6,010

0.10

0.61

Allendale

0

0

0

0

0

0

n/a

0.00

0.00

Anderson

0

0

0

3

20

23

3,450

0.18

1.06

Bamberg

0

0

0

0

0

0

n/a

0.00

0.00

Barnwell

0

0

0

0

0

0

n/a

0.00

0.00

Beaufort

0

1

2

4

15

22

3,355

0.18

1.09

Berkeley

0

0

3

1

11

15

4,085

0.15

0.90

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Charleston

0

0

35

4

41

80

1,996

0.31

1.84

Cherokee

0

0

1

0

0

1

23,123

0.03

0.16

Chester

0

1

1

1

0

3

4,916

0.13

0.75

Chesterfield

0

0

0

0

1

1

19,533

0.03

0.19

Clarendon

0

0

0

0

0

0

n/a

0.00

0.00

Colleton

0

0

0

0

3

3

6,271

0.10

0.58

Darlington

0

0

2

2

4

8

3,729

0.17

0.98

Dillon

0

0

0

1

0

1

12,879

0.05

0.29

Dorchester

0

0

4

0

11

15

2,877

0.21

1.27

Edgefield

0

0

0

0

1

1

9,698

0.06

0.38

Fairfield

0

0

0

0

0

0

n/a

0.00

0.00

Florence

0

0

1

2

5

8

6,648

0.09

0.55

Georgetown

0

0

0

0

6

6

5,270

0.12

0.70

Greenville

0

1

4

6

9

20

8,934

0.07

0.41

Greenwood

0

0

0

1

0

1

29,623

0.02

0.12

Hampton

0

0

0

0

1

1

8,700

0.07

0.42

Horry

0

0

2

5

0

7

21,030

0.03

0.17

Jasper

0

0

1

0

0

1

8,326

0.07

0.44

Kershaw

0

0

1

1

0

2

12,303

0.05

0.30

Lancaster

0

0

3

1

7

11

2,423

0.25

1.51

Laurens

0

0

0

1

0

1

31,239

0.02

0.12

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Lexington

0

1

4

2

49

56

1,780

0.35

2.06

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marlboro

0

0

0

0

0

0

n/a

0.00

0.00

McCormick

0

0

0

0

0

0

n/a

0.00

0.00

Newberry

0

0

1

0

0

1

17,389

0.04

0.21

Oconee

0

0

0

1

2

3

11,862

0.05

0.31

Orangeburg

0

0

0

0

11

11

3,713

0.17

0.99

Pickens

0

0

2

1

1

4

12,481

0.05

0.29

Richland

0

1

8

3

124

136

1,072

0.58

3.42

Saluda

0

0

0

0

0

0

n/a

0.00

0.00

Spartanburg

0

0

4

2

30

36

3,244

0.19

1.13

Sumter

0

0

2

2

29

33

1,333

0.46

2.75

Union

0

0

0

0

1

1

13,529

0.05

0.27

Williamsburg

0

0

0

0

0

0

n/a

0.00

0.00

York

0

1

0

0

2

3

26,653

0.02

0.14

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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