Georgia Foreclosure Activity Decreases in November

Filings down 3 percent from October, rate 6th highest in nation

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 14,423 Georgia properties in November, down 3 percent from the previous month but still 49 percent above the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 279 Georgia housing units received a foreclosure filing in November, the sixth highest state foreclosure rate in the nation.

 

“Foreclosure activity was down slightly in Georgia during November but was still well above the level reported a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in bank-owned properties, which fell 40 percent for the month. The state’s home sales declined at half the rate of the national average during the third quarter. That, plus the “robo-signing” controversy which is delaying foreclosures in many states may be having a significant impact on overall foreclosure activity right now.”

 

With 57,378 properties with foreclosure filings, California remained firmly established as the national frontrunner, with Florida alone in second place, reporting 32,938 properties with foreclosure filings for the month, well ahead of third place Michigan, which reported 15,311 properties with foreclosure filings. Georgia moved up two spots to fourth place. Moving up four spots, Texas was fifth highest, reporting 13,369 properties with foreclosure filings for the month.

 

The remaining Top 10 states for November were Illinois (12,941), Nevada (11,371), Ohio (10,458), Arizona (10,384) and Pennsylvania (5,672). The top five states accounted for 51 percent of all foreclosure filings in the nation for the month.

 

Walton County posts state’s top foreclosure rate in November

One in every 133 housing units received a foreclosure filing in Walton County in November — 3.7 times the national average and 2.1 times the state average. Henry County reported the second highest foreclosure rate in the state with one in every 144 housing units receiving a foreclosure filing for the month — 3.4 times the national average and 1.9 times the state average. Clayton County came in third, with one in every 145 housing units receiving a foreclosure filing — 3.4 times the national average and 1.9 times the state average.

 

Fulton County dominated state foreclosure activity for November

Foreclosure activity was heaviest in Fulton County, which reported 1,760 properties with foreclosure filings for the month. Gwinnett County tallied the second highest foreclosure level, reporting 1,639 properties with foreclosure filings. Third highest total was in Dekalb County, where 1,327 properties with foreclosure filings were reported. Fourth highest was Cobb County, where 1,173 properties with foreclosure filings were reported. Clayton County filled out the top five for the month, reporting 737 properties with foreclosure filings.

 

State a significant contributor to nation’s monthly foreclosure total

Georgia accounted for 5 percent of the 262,339 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 21 percent from the previous month, and was down more than 14 percent from the level reported in November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.

 

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.

 

Georgia Top Foreclosure Rates By County – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

n/a

n/a

Georgia

0

0

11,228

0

3,195

14,423

279

1.76

n/a

 

 

 

 

 

 

 

 

 

 

Walton

0

0

179

0

64

243

133

3.70

2.10

Henry

0

0

447

0

65

512

144

3.42

1.94

Clayton

0

0

528

0

209

737

145

3.38

1.92

Barrow

0

0

128

0

49

177

150

3.29

1.87

Douglas

0

0

250

0

58

308

160

3.07

1.74

 

 

Georgia Top Foreclosure Totals by County – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 10

% Chg Nov 09

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

-21.02

-14.44

Georgia

0

0

11,228

0

3,195

14,423

279

-2.88

49.24

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

1,421

0

339

1,760

251

-5.98

16.71

Gwinnett

0

0

1,343

0

296

1,639

176

-7.24

61.80

Dekalb

0

0

1,129

0

198

1,327

234

-7.33

38.09

Cobb

0

0

886

0

287

1,173

239

-3.54

96.48

Clayton

0

0

528

0

209

737

145

9.67

64.14

 

 

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