SOUTH CAROLINA FORECLOSURE ACTIVITY UP 29 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Foreclosure Total Up 24 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – South Carolina reported 560 foreclosure filings in October, a 29 percent increase from the previous month, and a 24 percent increase from October 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 are up both in October and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate is currently more than 1 percent higher than the national average. This may be contributing to the overall rise.”

 

South Carolina documented the 35th highest foreclosure total in the nation for October. The state’s foreclosure rate of one foreclosure filing for every 3,443 households ranked it among the 10 lowest states.

 

Anderson County leads state in foreclosure activity

Three counties accounted for 33 percent of all foreclosure filings in South Carolina for October. Anderson County posted the highest foreclosure total for the month, with 61 foreclosure filings. Lexington County posted the second highest foreclosure total, with 57 foreclosure filings, followed by Spartanburg County with 56 foreclosure filings.

 

Anderson County posts highest foreclosure rate

Anderson County reported the highest foreclosure rate in the state for October, with one foreclosure filing for every 1,301 households — 2.7 times the state average. Dorchester County posted the second highest foreclosure rate, with one foreclosure filing for every 1,726 households — twice the state average.  Lexington County reported the third highest foreclosure rate, with one foreclosure filing for every 1,749 households.

 

State makes minor contribution to national total

Total foreclosure filings in South Carolina accounted for less than 1 percent of the 224,451 foreclosure filings nationwide in October. The national total represents a 2 percent increase from the previous month and is still 94 percent above the total reported for October 2006. The nation’s foreclosure rate is one foreclosure filing for every 555 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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

South Carolina

0

6

64

33

457

560

3,443

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

0

0

n/a

0.00

0.00

Aiken

0

1

1

1

10

13

5,086

0.11

0.68

Allendale

0

0

0

0

0

0

n/a

0.00

0.00

Anderson

0

0

4

0

57

61

1,301

0.43

2.65

Bamberg

0

0

0

0

0

0

n/a

0.00

0.00

Barnwell

0

0

0

0

1

1

10,283

0.05

0.33

Beaufort

0

0

1

4

32

37

1,995

0.28

1.73

Berkeley

0

0

2

1

20

23

2,664

0.1

1.29

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Charleston

0

0

14

0

25

39

4,094

0.14

0.84

Cherokee

0

0

0

0

0

0

n/a

0.00

0.00

Chester

0

0

0

0

2

2

7,374

0.08

0.47

Chesterfield

0

0

1

0

1

2

9,767

0.06

0.35

Clarendon

0

0

0

0

0

0

n/a

0.00

0.00

Colleton

0

0

2

1

0

3

6,271

0.09

0.55

Darlington

0

0

1

1

11

13

2,295

0.24

1.50

Dillon

0

0

0

0

2

2

6,440

0.09

0.53

Dorchester

0

1

1

1

22

25

1,726

0.32

1.99

Edgefield

0

0

1

0

1

2

4,849

0.11

0.71

Fairfield

0

0

0

0

1

1

10,760

0.05

0.32

Florence

0

0

1

2

12

15

3,545

0.16

0.97

Georgetown

0

0

0

1

4

5

6,323

0.09

0.54

Greenville

0

0

3

1

13

17

10,511

0.05

0.33

Greenwood

0

0

0

0

0

0

n/a

0.00

0.00

Hampton

0

0

1

0

0

1

8,700

0.06

0.40

Horry

0

0

6

1

44

51

2,886

0.19

1.19

Jasper

0

0

1

0

0

1

8,326

0.07

0.41

Kershaw

0

0

0

0

2

2

12,303

0.05

0.28

Lancaster

0

0

2

0

10

12

2,221

0.25

1.55

Laurens

0

0

0

0

2

2

15,620

0.04

0.22

Lee

0

0

2

1

0

3

2,622

0.21

1.31

Lexington

0

0

0

1

56

57

1,749

0.32

1.97

Marion

0

0

0

1

0

1

15,408

0.04

0.22

Marlboro

0

0

0

4

2

6

1,999

0.28

1.72

McCormick

0

0

0

0

0

0

n/a

0.00

0.00

Newberry

0

0

2

0

1

3

5,796

0.10

0.59

Oconee

0

0

0

1

5

6

5,931

0.09

0.58

Orangeburg

0

0

1

0

19

20

2,042

0.27

1.69

Pickens

0

1

2

1

5

9

5,547

0.10

0.62

Richland

0

0

10

5

12

27

5,401

0.10

0.64

Saluda

0

0

0

0

1

1

8,770

0.06

0.39

Spartanburg

0

1

2

1

52

56

2,086

0.27

1.65

Sumter

0

0

2

1

22

25

1,759

0.32

1.96

Union

0

0

0

0

0

0

n/a

0.00

0.00

Williamsburg

0

0

0

0

0

0

n/a

0.00

0.00

York

0

2

1

3

10

16

4,997

0.11

0.69

 

 

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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