Atlanta Metro Area Foreclosure Activity Up in Third Quarter

Filings up 22 percent from Q2 2011, down 18 percent from a year ago

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 24,333 Atlanta metro area  properties during the third quarter of 2011, up 22 percent from the second  quarter of 2011, but still 18 percent below the level reported for the same  quarter last year, according to the latest  RealtyTrac® U.S. Foreclosure Market Report.

One in every 89 of the metro  area’s housing units had a foreclosure filing in the third quarter of 2011, the  14th highest foreclosure rate among the 211 metro areas with  populations exceeding 200,000 surveyed every month by RealtyTrac.

Foreclosure filings were reported on 8,319 Atlanta metro area properties in September, a  4 percent decrease from August and down 17 percent from September 2010. One in  every 260 Atlanta  metro area housing units had a foreclosure filing in September, the 14th  highest foreclosure rate among the 211 metro areas with populations exceeding  200,000 surveyed every month by RealtyTrac.

Newton County posts  top foreclosure rate for the third quarter
  One in every 38 housing units in Newton County  had a foreclosure filing during the third quarter of 2011 — 5.7 times the  national average and 3.2 times the state average. Walton County  had the second highest rate with one in every 52 housing units reporting a  foreclosure filing — 4.1 times the national average and 2.3 times the state  average. Barrow County had the third highest rate,  reporting one in every 62 housing units with a foreclosure filing — 3.4 times  the national average and twice the state average.

Fulton County leads  the metro area in foreclosure activity for third quarter
  Fulton County had the highest level of foreclosure activity in  the state, reporting 4,224 properties with foreclosure filings during the  quarter. Gwinnett   County was second highest  in the metro area, reporting 3,701 properties with foreclosure filings. Third  highest total was tallied in Dekalb   County, where 3,157  properties with foreclosure filings were reported. Reporting 2,482 properties  with foreclosure filings for the quarter, Cobb County  registered the fourth highest total in the metro area. Fifth highest was Clayton County, where 1,402 properties with  foreclosure filings were reported for the quarter.

State foreclosure activity up  in third quarter
  Georgia reported 33,637 properties with foreclosure filings  in the third quarter of 2011. This latest total represents a 21 percent  increase from the second quarter, but is 18 percent below the level reported in  the third quarter of 2010. One in every 121 Georgia housing units received a  foreclosure filing in the third quarter, the fourth highest state foreclosure  rate in the nation.

State the third largest  contributor to nation’s foreclosure total in the third quarter
  Georgia accounted for 6 percent of the 610,337 properties  with foreclosure filings reported nationwide for the third quarter of 2011.  Total U.S.  activity was up slightly from the second quarter of 2011, but was down 34  percent from the level reported for the same quarter in 2010. One in every 213 U.S. housing  units received a foreclosure filing during the quarter.

“U.S.  foreclosure activity has been mired down since October of last year, when  the robo-signing controversy sparked a flurry  of investigations into lender foreclosure procedures and paperwork,” said  James Saccacio, chief executive  officer of RealtyTrac. “While foreclosure  activity in September and the third quarter continued to register well below levels  from a year ago, there is evidence  that this temporary downward trend is about to  change direction, with foreclosure activity slowly beginning to ramp back  up.”
  “Third quarter foreclosure activity increased marginally from the previous quarter, breaking a  trend of three consecutive quarterly  decreases that started in the fourth quarter of 2010,” Saccacio continued. “This marginal increase in overall  foreclosure activity was fueled by  a 14 percent jump in new default notices, indicating that lenders are cautiously throwing more wood into the  foreclosure fireplace after spending months trying  to clear the chimney of sloppily filed foreclosures.”

 

                                   Atlanta metro area Top Foreclosure Rates By County – Q3 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

n/a

n/a

Atlanta MSA

0

0

13,238

0

11,095

24,333

89

2.39

n/a

Georgia

0

0

18,433

0

15,204

33,637

121

1.76

n/a

 

 

 

 

 

 

 

 

 

 

Newton

0

0

365

0

639

1,004

38

5.65

3.20

Walton

0

0

308

0

312

620

52

4.07

2.31

Barrow

0

0

216

0

215

431

62

3.44

1.95

Henry

0

0

669

0

501

1,170

63

3.37

1.91

Douglas

0

0

426

0

358

784

64

3.35

1.90

            Atlanta metro area Top Foreclosure Totals by County – Q3 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 11

% Chg Q3 10

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

0.35

-34.40

Atlanta MSA

0

0

13,238

0

11,095

24,333

89

22.25

-18.41

Georgia

0

0

18,433

0

15,204

33,637

121

21.40

-18.42

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

2,398

0

1,826

4,224

105

19.59

-22.50

Gwinnett

0

0

2,122

0

1,579

3,701

78

21.30

-19.84

Dekalb

0

0

1,902

0

1,255

3,157

99

18.02

-16.19

Cobb

0

0

1,414

0

1,068

2,482

113

16.64

-22.15

Clayton

0

0

791

0

611

1,402

77

8.60

-24.75

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