SOUTH CAROLINA FORECLOSURE ACTIVITY INCREASES 4 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Activity Down 6 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – South Carolina reported 412 foreclosure filings in July, a 4 percent increase from the previous month, and a 6 percent decrease from July 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.

 

“Job growth across South Carolina remains strong, especially within its services and construction sectors,” said James J. Saccacio, chief executive officer of RealtyTrac. “Despite this growth, the state is seeing a slight increase in foreclosure activity compared to one month earlier.”

 

South Carolina ranked 35th in the country in total foreclosures reported for July. The state’s foreclosure rate of one foreclosure filing for every 4,679 households ranked 40th among the 50 states.

 

Charleston County leads state in activity

Charleston County reported 49 foreclosure filings, the most of any county for the month. Anderson County was second, reporting 39 foreclosure filings for the month. Spartanburg reported the third highest county total, with 36 foreclosure filings, followed by fourth place Dorchester County, with 33 foreclosure filings entering the foreclosure pipeline.

 

Edgefield County posts highest foreclosure rate

Edgefield County reported the highest county foreclosure rate in the state for July, with a rate of one foreclosure filing for every 323 households — 14.5 times the state average and 2.1 times the national average. Dorchester County posted the second highest foreclosure rate, with one foreclosure filing for every 1,308 households — 3.6 times the state average. Anderson County posted the third highest foreclosure rate, with one foreclosure filing for every 2,035 households — 2.3 times the state average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in South Carolina accounted for less than 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

South Carolina

0

26

109

50

227

412

4,679

0.15

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

0

0

n/a

0.00

0.00

Aiken

0

0

2

6

18

26

2,543

0.27

1.84

Allendale

0

0

1

0

1

2

2,316

0.30

2.02

Anderson

0

1

10

2

26

39

2,035

0.34

2.30

Barnwell

0

0

0

0

0

0

n/a

0.00

0.00

Beaufort

0

1

3

0

15

19

3,885

0.18

1.20

Berkeley

0

2

5

1

8

16

3,830

0.18

1.22

Calhoun

0

0

0

0

0

0

n/a 

0.00

0.00

Charleston

0

1

35

1

12

49

3,259

0.21

1.44

Cherokee

0

0

0

1

0

1

23,123

0.03

0.20

Chester

0

0

1

1

0

2

7,374

0.09

0.63

Chesterfield

0

0

0

0

0

0

n/a

0.00

0.00

Clarendon

0

0

0

0

1

1

15,858

0.04

0.30

Colleton

0

1

0

0

5

6

3,136

0.22

1.49

Darlington

0

1

2

1

7

11

2,712

0.26

1.73

Dillon

0

0

1

0

0

1

12,879

0.05

0.36

Dorchester

0

0

1

0

32

33

1,308

0.53

3.58

Edgefield

0

0

0

19

11

30

323

2.14

14.47

Fairfield

0

0

0

1

0

1

10,760

0.06

0.43

Florence

0

0

3

2

1

6

8,864

0.08

0.53

Georgetown

0

0

0

0

7

7

4,517

0.15

1.04

Greenville

0

4

6

3

11

24

7,445

0.09

0.63

Greenwood

0

0

1

0

0

1

29,623

0.02

0.16

Hampton

0

0

0

0

0

0

n/a

0.00

0.00

Horry

0

2

2

0

2

6

24,535

0.03

0.19

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Kershaw

0

0

0

0

0

0

n/a

0.00

0.00

Lancaster

0

0

0

0

5

5

5,330

0.13

0.88

Laurens

0

0

2

1

0

3

10,413

0.07

0.45

Lee

0

0

1

0

0

1

7,865

0.09

0.59

Lexington

0

3

5

1

13

22

4,532

0.15

1.03

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marlboro

0

1

0

0

0

1

11,996

0.06

0.39

McCormick

0

0

0

1

0

1

4,777

0.15

0.98

Newberry

0

0

0

1

0

1

17,389

0.04

0.27

Oconee

0

0

1

0

7

8

4,448

0.16

1.05

Orangeburg

0

1

0

1

9

11

3,713

0.19

1.26

Pickens

0

1

3

3

2

9

5,547

0.12

0.84

Richland

0

4

8

3

0

15

9,723

0.07

0.48

Saluda

0

0

0

0

0

0

n/a

0.00

0.00

Spartanburg

0

1

6

0

29

36

3,244

0.21

1.44

Sumter

0

0

2

1

2

5

8,795

0.08

0.53

Union

0

1

2

0

0

3

4,510

0.15

1.04

Williamsburg

0

0

0

0

1

1

15,800

0.04

0.30

York

0

1

6

0

2

9

8,884

0.08

0.53

 

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).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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