Atlanta Metro Area Foreclosure Activity Falls in October

Metro area filings down 11 percent from September

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 7,400 properties in the Atlanta metro area for October, an 11 percent decrease from September and 32 percent below the level reported for October 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

One in every 293 of the metro area’s housing units had a foreclosure filing in October 2011, the 27th highest foreclosure rate among the 211 metro areas with populations exceeding 200,000 surveyed every month by RealtyTrac.

Newton County posts top foreclosure rate in the metro area for October
One in every 154 housing units in Newton County had a foreclosure filing in October — 3.7 times the national average and 2.6 times the state average — the highest foreclosure rate of all Metro area counties for the month. Henry County had the second highest rate of one in every 173 housing units with a foreclosure filing during the month — 3.3 times the national average and 2.4 times the state average. Walton County had the third highest rate of one in every 191 housing units with a foreclosure filing during the month — three times the national average and 1.9 times the the state average.

Fulton County has metro area’s highest foreclosure total in October
Fulton County tallied the highest level of foreclosure activity in the metro area, reporting 1,311 properties with foreclosure filings for the month. Gwinnett County was second highest, reporting 1,116 properties with foreclosure filings. Dekalb County was third, reporting 1,045 properties with foreclosure filings. Fourth highest was Cobb County, recording 768 properties with foreclosure filings. Clayton County was fifth highest, tallying 504 properties with foreclosure filings for the month.

State foreclosure activity down in October
Georgia reported 10,010 properties with foreclosure filings in October 2011. This latest total represents a 13 percent decrease from September and is 33 percent below the level reported in October 2010. One in every 406 Georgia housing units received a foreclosure filing in October, the sixth highest state foreclosure rate in the nation.

State the nation’s sixth largest contributor to total foreclosure activity in October
Georgia accounted for 4 percent of the 230,678 properties with foreclosure filings reported nationwide in October. Total U.S. activity increased by more than 7 percent from September, but was down nearly 31 percent from the level reported in October 2010. One in every 563 U.S. housing units received a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we’ve been in for the past year as lenders corrected foreclosure paperwork and processing problems,” said James Saccacio, chief executive officer of RealtyTrac. “However, recent state court rulings and new state laws keep changing the rules of the foreclosure game on the fly, creating more uncertainty in the housing market and threatening to prolong the road to a robust real estate recovery.”

 

                          Atlanta metro area Top Foreclosure Rates By County – October2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Georgia

0

0

6,900

0

3,110

10,010

406

1.39

n/a

Atlanta MSA

0

0

4,993

0

2,407

7,400

293

1.92

n/a

 

 

 

 

 

 

 

 

 

 

Newton

0

0

144

0

101

245

154

3.65

2.63

Henry

0

0

274

0

153

427

173

3.26

2.35

Walton

0

0

106

0

64

170

191

2.96

2.13

Douglas

0

0

175

0

81

256

195

2.90

2.09

Clayton

0

0

305

0

199

504

213

2.65

1.91

 Atlanta metro area Top Foreclosure Totals by County – October2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Georgia

0

0

6,900

0

3,110

10,010

406

-13.35

-32.59

Atlanta MSA

0

0

4,993

0

2,407

7,400

293

-11.05

-32.35

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

928

0

383

1,311

339

-11.24

-29.97

Gwinnett

0

0

787

0

329

1,116

259

-8.00

-36.84

Dekalb

0

0

675

0

370

1,045

300

27.75

-27.03

Cobb

0

0

490

0

278

768

366

13.27

-36.84

Clayton

0

0

305

0

199

504

213

46.51

-25.00

 

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