TENNESSEE FORECLOSURE ACTIVITY UP 2 PERCENT IN AUGUST

Statewide Foreclosure Activity Increases 1 Percent From August 2007

 

IRVINE, Calif. – Sept. 26, 2008 – Foreclosure filings were reported on 4,667 Tennessee properties in August, an increase of 2 percent from the previous month, and 1 percent above the level reported for August 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.

 

Tennessee’s unemployment rate dropped slightly to 6.6 percent in August, which has been attributed in part to the start of the school year along with corresponding increases in educational service jobs and transportation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure activity is up only slightly in Tennessee.”

 

Tennessee ranked 15th in the country in total properties with foreclosure filings reported for August. One in every 574 Tennessee households received a foreclosure filing during the month, ranking 13th among the 50 states.

 

Shelby County leads state in foreclosure activity for August

Shelby County led the state reporting 1,702 properties with foreclosure filings for the month. Davidson County came in second highest, reporting 493 properties with foreclosure filings. Knox County posted the third highest foreclosure total, reporting 304 properties with foreclosure filings. Hamilton County came in fourth place, documenting 239 properties with foreclosure filings. Rutherford County came in fifth highest, reporting 179 properties with foreclosure filings during the month.

 

Shelby County reports highest foreclosure rate for August

Shelby County posted the top county foreclosure rate in the state, with one in every 232 households receiving a foreclosure filing during the month — 2.5 times the state average and 1.8 times the national average. Lauderdale County posted the second highest foreclosure rate, where one in every 380 households received a foreclosure filing. Tipton County registered the third highest foreclosure rate, where one in every 418 households received a foreclosure filing.

 

State a modest contributor to nation’s foreclosure total in August

Tennessee accounted for 2 percent of the 303,879 properties with foreclosure filings reported nationwide in August. The national total represents an increase of 12 percent from the previous month and is 27 percent ahead of the total reported for August 2007. The nation’s foreclosure rate increased to one in every 416 U.S. households receiving 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 – August 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

61,903

57,156

69,693

24,234

90,893

303,879

416

n/a

n/a

Tennessee

1,364

0

1,916

0

1,387

4,667

574

0.72

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

18

0

10

0

7

35

968

0.43

0.59

Bedford

10

0

12

0

12

34

498

0.83

1.15

Benton

3

0

3

0

9

15

598

0.70

0.96

Bledsoe

1

0

0

0

1

2

2,692

0.15

0.21

Blount

1

0

18

0

3

22

2,345

0.18

0.25

Bradley

16

0

18

0

13

47

860

0.48

0.67

Campbell

13

0

8

0

12

33

576

0.72

1.00

Cannon

3

0

4

0

0

7

808

0.51

0.71

Carroll

3

0

6

0

4

13

1,041

0.40

0.55

Carter

6

0

1

0

3

10

2,712

0.15

0.21

Cheatham

9

0

8

0

7

24

639

0.65

0.90

Chester

3

0

2

0

1

6

1,116

0.37

0.51

Claiborne

5

0

1

0

7

13

1,137

0.37

0.51

Clay

1

0

1

0

0

2

2,074

0.20

0.28

Cocke

2

0

6

0

4

12

1,375

0.30

0.42

Coffee

4

0

2

0

12

18

1,244

0.33

0.46

Crockett

1

0

1

0

0

2

3,168

0.13

0.18

Cumberland

6

0

3

0

3

12

1,993

0.21

0.29

Davidson

98

0

257

0

138

493

558

0.75

1.03

Decatur

1

0

2

0

2

5

1,347

0.31

0.43

DeKalb

1

0

4

0

0

5

1,751

0.24

0.33

Dickson

10

0

8

0

12

30

653

0.64

0.88

Dyer

9

0

11

0

3

23

739

0.56

0.78

Fayette

4

0

2

0

2

8

1,679

0.25

0.34

Fentress

4

0

2

0

0

6

1,320

0.31

0.44

Franklin

14

0

4

0

5

23

807

0.52

0.71

Gibson

8

0

9

0

13

30

739

0.56

0.78

Giles

5

0

10

0

4

19

721

0.58

0.80

Grainger

4

0

2

0

3

9

1,133

0.37

0.51

Greene

10

0

8

0

9

27

1,124

0.37

0.51

Grundy

0

0

0

0

0

0

n/a

0.00

0.00

Hamblen

10

0

21

0

16

47

557

0.75

1.03

Hamilton

59

0

143

0

37

239

606

0.69

0.95

Hancock

1

0

1

0

0

2

1,694

0.25

0.34

Hardeman

8

0

8

0

8

24

470

0.89

1.22

Hardin

2

0

3

0

1

6

2,240

0.19

0.26

Hawkins

10

0

10

0

5

25

1,034

0.40

0.56

Haywood

8

0

8

0

1

17

498

0.83

1.15

Henderson

4

0

2

0

5

11

1,093

0.38

0.53

Henry

2

0

1

0

6

9

1,842

0.23

0.31

Hickman

6

0

0

0

5

11

845

0.49

0.68

Houston

1

0

0

0

1

2

2,036

0.20

0.28

Humphreys

2

0

1

0

6

9

991

0.42

0.58

Jackson

3

0

1

0

3

7

769

0.54

0.75

Jefferson

6

0

6

0

4

16

1,363

0.31

0.42

Johnson

1

0

2

0

1

4

2,121

0.20

0.27

Knox

99

0

96

0

109

304

625

0.66

0.92

Lake

2

0

0

0

0

2

1,379

0.30

0.42

Lauderdale

10

0

12

0

8

30

380

1.09

1.51

Lawrence

14

0

11

0

5

30

578

0.72

0.99

Lewis

0

0

1

0

3

4

1,254

0.33

0.46

Lincoln

5

0

3

0

2

10

1,446

0.29

0.40

Loudon

18

0

9

0

9

36

528

0.79

1.09

Macon

2

0

3

0

0

5

1,879

0.22

0.31

Madison

4

0

18

0

20

42

1,003

0.41

0.57

Marion

1

0

0

0

2

3

4,431

0.09

0.13

Marshall

10

0

8

0

4

22

571

0.73

1.01

Maury

26

0

28

0

19

73

466

0.89

1.23

McMinn

10

0

12

0

18

40

563

0.74

1.02

McNairy

4

0

3

0

2

9

1,301

0.32

0.44

Meigs

2

0

2

0

4

8

695

0.60

0.83

Monroe

13

0

7

0

2

22

845

0.49

0.68

Montgomery

32

0

26

0

23

81

786

0.53

0.73

Moore

0

0

0

0

1

1

2,841

0.15

0.20

Morgan

1

0

2

0

2

5

1,613

0.26

0.36

Obion

0

0

1

0

9

10

1,490

0.28

0.39

Overton

0

0

2

0

2

4

2,387

0.17

0.24

Perry

0

0

1

0

0

1

4,304

0.10

0.13

Pickett

0

0

0

0

0

0

n/a

0.00

0.00

Polk

1

0

0

0

3

4

1,992

0.21

0.29

Putnam

5

0

13

0

5

23

1,293

0.32

0.44

Rhea

8

0

6

0

5

19

715

0.58

0.80

Roane

11

0

3

0

8

22

1,107

0.38

0.52

Robertson

13

0

13

0

11

37

663

0.63

0.87

Rutherford

81

0

72

0

26

179

530

0.78

1.08

Scott

0

0

1

0

0

1

9,299

0.04

0.06

Sequatchie

3

0

1

0

4

8

647

0.64

0.89

Sevier

30

0

26

0

19

75

559

0.74

1.03

Shelby

398

0

752

0

552

1,702

232

1.79

2.48

Smith

5

0

1

0

2

8

1,019

0.41

0.56

Stewart

1

0

3

0

1

5

1,254

0.33

0.46

Sullivan

1

0

15

0

2

18

4,048

0.10

0.14

Sumner

45

0

50

0

34

129

468

0.89

1.23

Tipton

12

0

14

0

28

54

418

1.00

1.38

Trousdale

0

0

2

0

1

3

1,105

0.38

0.52

Unicoi

2

0

0

0

0

2

4,276

0.10

0.13

Union

7

0

0

0

1

8

1,103

0.38

0.52

Van Buren

0

0

0

0

0

0

n/a

0.00

0.00

Warren

10

0

5

0

10

25

694

0.60

0.83

Washington

14

0

18

0

12

44

1,177

0.35

0.49

Wayne

2

0

0

0

2

4

1,760

0.24

0.33

Weakley

5

0

1

0

4

10

1,562

0.27

0.37

White

6

0

4

0

2

12

885

0.47

0.65

Williamson

32

0

25

0

11

68

871

0.48

0.66

Wilson

23

0

16

0

12

51

813

0.51

0.71

 

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