TENNESSEE FORECLOSURE ACTIVITY DOWN 1 PERCENT IN OCTOBER

Foreclosure Filings Statewide Decrease 11 Percent From October 2007

 

IRVINE, Calif. – Nov. 26, 2008 – Foreclosure filings were reported on 4,038 Tennessee properties in October, a decrease of 1 percent from the previous month and 11 percent below the level reported for October 2007, 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 1.5 million properties from over 2,200 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.

 

“Foreclosure filings were nearly unchanged in Tennessee from September to October, though activity decreased significantly compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, foreclosure activity remains high in the Volunteer State as unemployment recently hit a 20-year high.”

 

Tennessee ranked 15th in the country in total properties with foreclosure filings for October. One in every 664 Tennessee housing units received a foreclosure filing during the month, ranking 18th among the 50 states.

 

Shelby County tops in foreclosure activity for October

Shelby County led the state reporting 1,856 properties with foreclosure filings for the month. Davidson County came in second highest, reporting 308 properties with foreclosure filings. Hamilton County ranked third highest, reporting 177 properties with foreclosure filings. Knox County came in fourth place, documenting 167 properties with foreclosure filings.

 

Shelby County post state’s top rate for October

Shelby County posted the highest foreclosure rate in Tennessee for October, with one in every 212 housing units receiving a foreclosure filing during the month — 3.1 times the state average and 2.1 times the national average. Robertson County registered the second highest foreclosure rate, where one in every 500 housing units received a foreclosure filing. Sevier County documented the third highest foreclosure rate, where one in every 505 housing units received a foreclosure filing during the month.

 

State a minor contributor to nation’s foreclosure total in October

Tennessee accounted for 1 percent of the 279,561 properties with foreclosure filings reported nationwide in October. The national total represented a decrease of more than 5 percent from the previous month but was still almost 25 percent ahead of the total reported for October 2007. One in every 452 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

Tennessee Foreclosure Market Data by County – October 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

36,036

66,033

66,319

26,305

84,868

279,561

452

n/a

n/a

Tennessee

8

0

2,296

0

1,734

4,038

664

0.68

n/a

 

 

 

 

 

 

 

 

 

Anderson

0

0

12

0

9

21

1,613

0.28

0.41

Bedford

0

0

15

0

17

32

529

0.85

1.26

Benton

0

0

2

0

3

5

1,793

0.25

0.37

Bledsoe

0

0

1

0

3

4

1,346

0.34

0.49

Blount

0

0

17

0

3

20

2,579

0.18

0.26

Bradley

0

0

16

0

31

47

860

0.53

0.77

Campbell

0

0

10

0

18

28

679

0.67

0.98

Cannon

0

0

1

0

2

3

1,886

0.24

0.35

Carroll

0

0

6

0

7

13

1,041

0.43

0.64

Carter

0

0

4

0

5

9

3,013

0.15

0.22

Cheatham

0

0

10

0

12

22

697

0.65

0.95

Chester

0

0

4

0

0

4

1,674

0.27

0.40

Claiborne

0

0

2

0

10

12

1,232

0.37

0.54

Clay

0

0

0

0

1

1

4,148

0.11

0.16

Cocke

0

0

2

0

4

6

2,750

0.16

0.24

Coffee

1

0

7

0

11

19

1,178

0.38

0.56

Crockett

0

0

3

0

2

5

1,267

0.36

0.52

Cumberland

0

0

5

0

4

9

2,658

0.17

0.25

Davidson

2

0

125

0

181

308

893

0.51

0.74

Decatur

0

0

2

0

4

6

1,122

0.40

0.59

DeKalb

0

0

4

0

0

4

2,188

0.21

0.30

Dickson

0

0

9

0

7

16

1,224

0.37

0.54

Dyer

0

0

6

0

12

18

944

0.48

0.70

Fayette

0

0

5

0

2

7

1,918

0.24

0.35

Fentress

0

0

4

0

4

8

990

0.46

0.67

Franklin

0

0

7

0

7

14

1,326

0.34

0.50

Gibson

0

0

16

0

21

37

599

0.75

1.11

Giles

0

0

1

0

6

7

1,957

0.23

0.34

Grainger

0

0

5

0

6

11

927

0.49

0.72

Greene

0

0

5

0

20

25

1,214

0.37

0.55

Grundy

0

0

5

0

1

6

1,092

0.41

0.61

Hamblen

0

0

11

0

14

25

1,048

0.43

0.63

Hamilton

0

0

77

0

100

177

819

0.55

0.81

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Hardeman

0

0

6

0

7

13

867

0.52

0.77

Hardin

0

0

4

0

10

14

960

0.47

0.69

Hawkins

0

0

10

0

7

17

1,521

0.30

0.44

Haywood

0

0

7

0

8

15

565

0.80

1.18

Henderson

0

0

5

0

6

11

1,093

0.41

0.61

Henry

0

0

1

0

6

7

2,368

0.19

0.28

Hickman

0

0

5

0

6

11

845

0.53

0.79

Houston

0

0

1

0

0

1

4,071

0.11

0.16

Humphreys

0

0

1

0

1

2

4,459

0.10

0.15

Jackson

0

0

1

0

1

2

2,693

0.17

0.25

Jefferson

0

0

7

0

16

23

948

0.48

0.70

Johnson

0

0

0

0

2

2

4,242

0.11

0.16

Knox

1

0

80

0

86

167

1,138

0.40

0.58

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Lauderdale

0

0

8

0

9

17

671

0.67

0.99

Lawrence

0

0

6

0

10

16

1,083

0.42

0.61

Lewis

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

4

0

3

7

2,066

0.22

0.32

Loudon

0

0

9

0

14

23

827

0.55

0.80

Macon

0

0

3

0

4

7

1,342

0.34

0.49

Madison

0

0

24

0

32

56

752

0.60

0.88

Marion

0

0

0

0

4

4

3,323

0.14

0.20

Marshall

0

0

13

0

11

24

523

0.86

1.27

Maury

0

0

18

0

27

45

757

0.60

0.88

McMinn

0

0

17

0

12

29

777

0.58

0.85

McNairy

0

0

7

0

9

16

732

0.62

0.91

Meigs

0

0

2

0

3

5

1,112

0.41

0.60

Monroe

0

0

4

0

13

17

1,094

0.41

0.61

Montgomery

0

0

27

0

17

44

1,446

0.31

0.46

Moore

0

0

0

0

2

2

1,421

0.32

0.47

Morgan

0

0

5

0

4

9

896

0.50

0.74

Obion

0

0

4

0

4

8

1,862

0.24

0.36

Overton

0

0

1

0

0

1

9,549

0.05

0.07

Perry

0

0

1

0

2

3

1,435

0.31

0.46

Pickett

0

0

0

0

0

0

 n/a

0.00

0.00

Polk

0

0

4

0

2

6

1,328

0.34

0.50

Putnam

0

0

15

0

14

29

1,026

0.44

0.65

Rhea

0

0

6

0

9

15

905

0.50

0.73

Roane

0

0

12

0

13

25

974

0.46

0.68

Robertson

1

0

13

0

35

49

500

0.90

1.33

Rutherford

1

0

62

0

59

122

778

0.58

0.85

Scott

0

0

1

0

0

1

9,299

0.05

0.07

Sequatchie

0

0

3

0

7

10

518

0.87

1.28

Sevier

0

0

39

0

44

83

505

0.90

1.32

Shelby

1

0

1,293

0

562

1,856

212

2.13

3.13

Smith

0

0

7

0

4

11

741

0.61

0.90

Stewart

0

0

5

0

1

6

1,045

0.43

0.64

Sullivan

0

0

20

0

2

22

3,312

0.14

0.20

Sumner

1

0

27

0

47

75

804

0.56

0.83

Tipton

0

0

31

0

0

31

727

0.62

0.91

Trousdale

0

0

2

0

1

3

1,105

0.41

0.60

Unicoi

0

0

4

0

2

6

1,425

0.32

0.47

Union

0

0

1

0

3

4

2,207

0.20

0.30

Van Buren

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

0

6

0

7

13

1,334

0.34

0.50

Washington

0

0

13

0

13

26

1,992

0.23

0.33

Wayne

0

0

1

0

2

3

2,346

0.19

0.28

Weakley

0

0

3

0

7

10

1,562

0.29

0.43

White

0

0

11

0

3

14

758

0.60

0.88

Williamson

0

0

25

0

22

47

1,260

0.36

0.53

Wilson

0

0

12

0

12

24

1,728

0.26

0.38

 

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved