SOUTH CAROLINA FORECLOSURES INCREASE 17 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S.

FORECLOSURE MARKET REPORT

 

State’s Activity Down 50 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – South Carolina documented 407 new foreclosure filings in January, a 17 percent increase from the previous month, but a 50 decrease from January 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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.

 

“Although South Carolina foreclosures increased in January, the numbers are down from this time last year by half,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that while most states experienced a decline in home sales during 2006, South Carolina home sales grew. This has likely contributed to the overall decline.”

 

South Carolina ranked 33rd in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 4,306 households ranked 40th among the 50 states.

 

Top three counties account for largest share of state’s foreclosure activity

Three counties accounted for 38 percent of South Carolina foreclosures for January. Anderson County documented the state’s largest share of foreclosure activity in January, with 73 properties entering some stage of the foreclosure process during the month. Lexington County documented the second largest share of foreclosure activity, with 50 properties in some stage of the foreclosure process. Spartanburg County posted the state’s third largest share of foreclosure activity, with 34 properties in the foreclosure pipeline.

 

Anderson County posts highest foreclosure rate

Anderson County posted the highest foreclosure rate in South Carolina for January, with one new foreclosure filing for every 1,003 households — 4.3 times the state average. Lexington County registered the second highest foreclosure rate, with one new foreclosure filing for every 1,820 households — 2.4 times the state average. Berkeley County posted the third highest foreclosure rate, with one new foreclosure filing for every 2,280 households — 1.9 times the state average.

 

State makes minor contribution to national total

South Carolina’s foreclosure activity accounted for less than 1 percent of the 130,511 properties entering some stage of foreclosure nationwide in January. The national total represents a 19 percent increase in activity from the 109,652 foreclosure filings reported in December. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

South Carolina

54

96

0

0

257

407

4,306

0.21

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

0

0

n/a

0.00

0.00

Aiken

1

2

0

0

13

16

3,874

0.23

1.11

Allendale

0

0

0

0

0

0

n/a

0.00

0.00

Anderson

4

6

0

0

63

73

1,003

0.88

4.29

Bamberg

0

0

0

0

0

0

n/a

0.00

0.00

Barnwell

1

0

0

0

0

1

10,191

0.09

0.42

Beaufort

1

2

0

0

11

14

4,322

0.20

1.00

Berkeley

1

4

0

0

19

24

2,280

0.39

1.89

Charleston

1

26

0

0

3

30

4,701

0.19

0.92

Cherokee

0

3

0

0

0

3

7,467

0.12

0.58

Chester

2

2

0

0

0

4

3,594

0.25

1.20

Chesterfield

0

0

0

0

0

0

n/a

0.00

0.00

Clarendon

2

0

0

0

1

3

5,101

0.17

0.84

Colleton

2

1

0

0

2

5

3,626

0.24

1.19

Darlington

2

4

0

0

5

11

2,631

0.34

1.64

Dillon

0

0

0

0

0

0

n/a

0.00

0.00

Dorchester

3

3

0

0

2

8

4,655

0.19

0.93

Edgefield

0

1

0

0

1

2

4,612

0.19

0.93

Fairfield

0

0

0

0

0

0

n/a

0.00

0.00

Florence

2

5

0

0

3

10

5,184

0.17

0.83

Georgetown

2

0

0

0

4

6

4,714

0.19

0.91

Greenville

5

5

0

0

16

26

6,262

0.14

0.69

Greenwood

0

2

0

0

0

2

14,122

0.06

0.30

Hampton

0

0

0

0

0

0

n/a

0.00

0.00

Horry

2

3

0

0

0

5

24,417

0.04

0.18

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Kershaw

0

1

0

0

0

1

22,683

0.04

0.19

Lancaster

0

0

0

0

4

4

6,241

0.14

0.69

Laurens

0

1

0

0

0

1

30,239

0.03

0.14

Lee

0

2

0

0

0

2

3,835

0.23

1.12

Lexington

3

3

0

0

44

50

1,820

0.49

2.37

Marion

0

1

0

0

0

1

15,143

0.06

0.28

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

0

0

0

0

n/a

0.00

0.00

Oconee

2

0

0

0

3

5

6,477

0.14

0.66

Orangeburg

0

4

0

0

13

17

2,312

0.38

1.86

Pickens

3

0

0

0

3

6

7,667

0.12

0.56

Richland

6

8

0

0

2

16

8,050

0.11

0.53

Saluda

0

0

0

0

0

0

n/a

0.00

0.00

Spartanburg

2

2

0

0

30

34

3,147

0.28

1.37

Sumter

1

2

0

0

15

18

2,320

0.38

1.86

Union

1

0

0

0

0

1

13,351

0.07

0.32

Williamsburg

0

0

0

0

0

0

n/a

0.00

0.00

York

5

3

0

0

0

8

8,258

0.11

0.52

 

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 construction properties, 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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