Atlanta Metro Area Foreclosures Up in 2010

Filings rise 21 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 95,145 Atlanta metro area properties for 2010, up 21 percent from a year ago and 42 percent above the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

A total 8,220 properties with foreclosure filings were reported for the Atlanta metro area in December 2010, a 20 percent decrease from November and 12 percent below the level reported in December 2009. One in every 262 Atlanta Metro Area housing units received a foreclosure filing during the month.

 

“The Atlanta metro area saw foreclosure activity increase in 2010 to a level significantly above what was reported in either of the past two years,” said James J. Saccacio, chief executive officer of RealtyTrac. “Joblessness continues to be a major issue throughout Georgia, with an unemployment rate now in the double digits. This trend, along with the fall of housing prices, has definitely impacted foreclosure activity throughout the state and has particularly hurt its more densely populated areas such as Atlanta.”

 

One in every 23 metro housing units received a foreclosure filing in 2010, the 25th highest rate among the top 206 large metro areas with populations exceeding 200,000 surveyed every month by RealtyTrac.

 

Newton County posts metro’s top foreclosure rate in 2010

One in every 14 housing units received a foreclosure filing in Newton County in 2010 — 3.1 times the national average and 2.2 times the state average. Walton County came in second, with one in every 14 housing units receiving a foreclosure filing in 2010 — 3.1 times the national average and 2.1 times the state average. The next highest was Henry County, where one in every 16 housing units received a foreclosure filings during the year — 2.9 times the national average and twice the state average.

 

Fulton County led the metro area in foreclosure activity for 2010

Fulton County led all metro area counties in total foreclosure activity for the year, reporting 17,415 properties with foreclosure filings in 2010. Gwinnett County had the second highest total, with 15,017 properties with foreclosure filings. Dekalb County was third highest, reporting 12,774 properties with foreclosure filings for the year. Cobb County came in fourth, tallying 9,998 properties with foreclosure filings. Fifth highest total for the year was in Clayton County, where 5,737 properties with foreclosure filings were reported.

 

State ranked top 10 nationally in total foreclosure filings for the year

Georgia reported 130,966 properties with foreclosure filings in 2010, giving it the sixth highest state total in the nation. This latest total represents a 23 percent increase from the previous year and is 54 percent above the level reported in 2008. One in every 31 Georgia housing units received a foreclosure filing during the year, the sixth highest state foreclosure rate in the nation.

 

State a moderate contributor to total foreclosure activity in 2010

Georgia accounted for 5 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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.

 

Atlanta Metro Area Top Foreclosure Rates By County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

Atlanta Metro Area

0

0

56,676

0

38,469

95,145

23

1.98

n/a

Georgia

1

0

77,664

0

53,301

130,966

31

1.46

n/a

 

 

 

 

 

 

 

 

 

 

Newton

0

0

1,540

0

1,103

2,643

14

3.14

2.15

Walton

0

0

1,300

0

953

2,253

14

3.13

2.14

Henry

0

0

2,859

0

1,844

4,703

16

2.87

1.97

Douglas

0

0

1,814

0

1,331

3,145

16

2.86

1.96

Barrow

0

0

925

0

692

1,617

16

2.74

1.88

 

 

Atlanta Metro Area Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

1.67

23.23

Atlanta Metro Area

0

0

56,676

0

38,469

95,145

23

20.69

41.99

Georgia

1

0

77,664

0

53,301

130,966

31

23.42

53.62

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

10,279

0

7,136

17,415

25

15.76

1.24

Gwinnett

0

0

9,151

0

5,866

15,017

19

25.78

84.94

Dekalb

0

0

7,971

0

4,803

12,774

24

26.43

27.91

Cobb

0

0

6,037

0

3,961

9,998

28

33.25

67.67

Clayton

0

0

3,343

0

2,394

5,737

19

15.46

17.68

 

 

 

Atlanta Metro Area Top Foreclosure Rates By County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

Atlanta Metro Area

0

0

6,078

0

2,142

8,220

262

1.91

n/a

Georgia

0

0

8,295

0

2,747

11,042

365

1.37

n/a

 

 

 

 

 

 

 

 

 

 

Walton

0

0

133

0

53

186

174

2.88

2.10

Henry

0

0

363

0

59

422

174

2.87

2.09

Douglas

0

0

192

0

91

283

174

2.87

2.09

Barrow

0

0

119

0

24

143

185

2.70

1.97

Dawson

0

0

33

0

20

53

192

2.61

1.90

 

 

Atlanta Metro Area Top Foreclosure Totals by County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

Atlanta Metro Area

0

0

6,078

0

2,142

8,220

262

-20.09

-12.14

Georgia

0

0

8,295

0

2,747

11,042

365

-23.44

-14.90

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

1,035

0

478

1,513

292

-14.03

-1.69

Gwinnett

0

0

918

0

411

1,329

217

-18.91

-4.46

Dekalb

0

0

830

0

351

1,181

263

-11.00

-9.08

Cobb

0

0

652

0

154

806

348

-31.29

-12.39

Clayton

0

0

364

0

86

450

238

-38.94

-28.34

 

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