Georgia Foreclosure Activity Falls in October

Statewide filings down 13 percent  from September; Rate sixth highest

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 10,010 Georgia properties  in October, a 13 percent decrease from September  and 33 percent below the level reported for October  2010, according to the latest RealtyTrac® U.S. Foreclosure  Market Report.

Georgia had the sixth highest foreclosure rate  in the nation, reporting one in every 406 housing units with a foreclosure  filing in October.

California continues to lead the nation in terms of total activity,  reporting 55,312 properties with foreclosure filings for October. Second ranked  Florida reported 33,073 properties with foreclosure filings during the month. Third  place was Michigan, where 16,106 properties with foreclosure filings were  reported. Illinois had the fourth highest total, reporting 12,522 properties  with foreclosure filings while Arizona took fifth place, tallying 10,626 properties  with foreclosure filings.

The remaining states that make up the nation’s  top 10 in October include Georgia (10,010), Texas (9,845), Ohio (8,691), Nevada  (6,307) and Colorado (4,729). The top 10 accounted for 72 percent of the  nation’s total foreclosure activity for the month.

Newton County posts top foreclosure rate in the  state 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 Georgia 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 — 2.7 times the national average and 1.9 times the the state average.

Fulton County has state’s highest foreclosure total  in October
  Fulton County had the highest foreclosure activity in the state,  reporting 1,311 properties with foreclosure filings in October. 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 a large 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.”

 

Georgia Top Foreclosure Rates By County – October 2011

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

 

 

 

 

 

 

 

 

 

 

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

 Georgia Top Foreclosure Totals by County – October 2011

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

 

 

 

 

 

 

 

 

 

 

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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