Georgia Foreclosure Activity Rises in November

Statewide filings up 23 percent from October; Rate fifth highest

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 12,327 Georgia properties in November, a 23 percent increase from October, but still 15 percent below the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Georgia had the fifth highest foreclosure rate in the nation, reporting one in every 330 housing units with a foreclosure filing in November — 1.8 times the national average.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 63,689 properties with foreclosure filings. Second ranked Florida reported 24,739 properties with foreclosure filings during the month. Third place was Michigan, where 13,777 properties with foreclosure filings were reported. Illinois had the fourth highest total, reporting 12,398 properties with foreclosure filings while Georgia took fifth place.

The remaining states that make up the nation’s top 10 in November include Arizona (10,766), Ohio (10,184), Texas (10,124), Nevada (6,512) and Wisconsin (4,382). The top 10 accounted for 75 percent of the nation’s total foreclosure activity for the month.

Bartow County posts top foreclosure rate in the state for November
 One in every 143 housing units in Bartow County had a foreclosure filing in November — four times the national average and 2.3 times the state average — the highest foreclosure rate of all Georgia counties for the month. Douglas County had the second highest rate of one in every 147 housing units with a foreclosure filing during the month — 3.9 times the national average and 2.2 times the state average. Barrow County had the third highest rate of one in every 173 housing units with a foreclosure filing during the month — 3.3 times the national average and 1.9 times the state average.

Gwinnett County has highest foreclosure total in November
 Gwinnett County tallied the highest level of foreclosure activity in the state, reporting 1,434 properties with foreclosure filings for the month. Fulton County had the second highest total, reporting 1,372 properties with foreclosure filings. Dekalb County was third, reporting 1,112 properties with foreclosure filings. Fourth highest was Cobb County, recording 932 properties with foreclosure filings. Clayton County was fifth highest, tallying 567 properties with foreclosure filings for the month.

State the nation’s fifth largest contributor to total foreclosure activity in November
 Georgia accounted for 5 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Arizona and Massachusetts actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

 Georgia Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Georgia

0

0

8,462

0

3,865

12,327

330

1.76

n/a

 

 

 

 

 

 

 

 

 

 

Bartow

0

0

115

0

149

264

143

4.04

2.30

Douglas

0

0

233

0

105

338

147

3.93

2.24

Barrow

0

0

95

0

59

154

173

3.34

1.90

Newton

0

0

163

0

51

214

177

3.27

1.86

Cherokee

0

0

259

0

201

460

178

3.26

1.86

Georgia Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Georgia

0

0

8,462

0

3,865

12,327

330

23.15

-14.53

 

 

 

 

 

 

 

 

 

 

Gwinnett

0

0

936

0

498

1,434

201

28.49

-12.51

Fulton

0

0

1,036

0

336

1,372

324

4.65

-22.05

Dekalb

0

0

869

0

243

1,112

282

6.41

-16.20

Cobb

0

0

682

0

250

932

301

21.35

-20.55

Clayton

0

0

392

0

175

567

189

12.50

-23.07

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