SOUTH CAROLINA FORECLOSURES INCREASE 8 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 35 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – South Carolina reported 396 foreclosure filings in June, an 8 percent increase from the previous month but down 35 percent from the number reported in June 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.

 

Although South Carolina foreclosures increased slightly in June, the numbers are down from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The fact that the state’s home price appreciation rate was above the national average last year is contributing to the overall decrease in foreclosure activity.”

 

Foreclosure totals in the Palmetto State were the 35th highest in the country for June. The state’s foreclosure rate of one foreclosure filing for every 4,428 households ranked it among the 10 lowest states in the nation.

 

Charleston County leads state in foreclosure activity for June

Charleston County led the state in foreclosure activity for June, reporting 60 foreclosure filings. Anderson County reported the second highest county total with 38 foreclosure filings. Greenville County came in third with 32 filings, followed by Spartanburg County with 31 filings in the foreclosure pipeline for the month.

 

Highest foreclosure rate reported in Fairfield County

Fairfield County posted the highest foreclosure rate in the state, one foreclosure filing for every 1,731 households — 2.6 times the state average. Lee County posted the second highest foreclosure rate in the state, one foreclosure filing for every 1,918 households — 2.3 times the state average. Third highest foreclosure rate was reported in Lancaster County, one foreclosure filing for every 1,920 households — 2.3 times the state average.

 

State makes minor contribution to national total

Total foreclosure filings in South Carolina accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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 – June 2007

  

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

South Carolina

0

17

112

43

224

396

4,428

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

1

1

11,656

0.06

0.38

Aiken

0

0

2

0

14

16

3,874

0.18

1.14

Allendale

0

0

0

0

0

0

n/a

0.00

0.00

Anderson

0

0

8

1

29

38

1,927

0.37

2.30

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

0

1

0

8

9

6,723

0.10

0.66

Berkeley

0

0

3

2

12

17

3,219

0.22

1.38

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Charleston

0

17

32

2

9

60

2,351

0.30

1.88

Cherokee

0

0

1

0

0

1

22,400

0.03

0.20

Chester

0

0

0

0

0

0

n/a

0.00

0.00

Chesterfield

0

0

1

0

0

1

18,818

0.04

0.24

Clarendon

0

0

0

1

0

1

15,303

0.05

0.29

Colleton

0

0

1

0

0

1

18,129

0.04

0.24

Darlington

0

0

2

2

9

13

2,226

0.32

1.99

Dillon

0

0

0

0

0

0

n/a

0.00

0.00

Dorchester

0

0

2

3

4

9

4,137

0.17

1.07

Edgefield

0

0

0

0

2

2

4,612

0.15

0.96

Fairfield

0

0

0

1

5

6

1,731

0.41

2.56

Florence

0

0

3

1

9

13

3,987

0.18

1.11

Georgetown

0

0

0

1

3

4

7,071

0.10

0.63

Greenville

0

0

11

5

16

32

5,088

0.14

0.87

Greenwood

0

0

0

1

1

2

14,122

0.05

0.31

Hampton

0

0

0

0

0

0

n/a

0.00

0.00

Horry

0

0

4

3

4

11

11,099

0.06

0.40

Jasper

0

0

1

0

0

1

7,928

0.09

0.56

Kershaw

0

0

0

0

0

0

n/a

0.00

0.00

Lancaster

0

0

1

1

11

13

1,920

0.37

2.31

Laurens

0

0

0

0

1

1

30,239

0.02

0.15

Lee

0

0

2

1

1

4

1,918

0.37

2.31

Lexington

0

0

4

3

17

24

3,791

0.19

1.17

Marion

0

0

1

0

1

2

7,572

0.09

0.58

Marlboro

0

0

0

0

2

2

5,947

0.12

0.74

McCormick

0

0

1

0

0

1

4,459

0.16

0.99

Newberry

0

0

0

0

0

0

n/a

0.00

0.00

Oconee

0

0

0

0

0

0

n/a

0.00

0.00

Orangeburg

0

0

0

1

12

13

3,023

0.23

1.46

Pickens

0

0

3

0

1

4

11,500

0.06

0.39

Richland

0

0

12

9

5

26

4,992

0.14

0.89

Saluda

0

0

0

0

2

2

4,272

0.16

1.04

Spartanburg

0

0

7

2

22

31

3,451

0.20

1.28

Sumter

0

0

0

0

16

16

2,609

0.27

1.70

Union

0

0

2

1

1

4

3,338

0.21

1.33

Williamsburg

0

0

0

0

1

1

15,552

0.05

0.28

York

0

0

7

2

5

14

4,719

0.15

0.94

 

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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