GEORGIA FORECLOSURES INCREASE 2 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 60 Percent From a Year Ago; Foreclosure Rate in Top 5

 

IRVINE, Calif. – Dec. 11, 2006 – Georgia reported 7,056 properties entering some stage of the foreclosure process in November, a 2 percent increase from the 6,895 properties reported in October, and a 60 percent gain from the 4,416 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“With home price appreciation below the national average and unemployment above the national average, it’s not surprising that Georgia’s foreclosure rate continues to rank among the nation’s highest,” said James J. Saccacio, chief executive officer of RealtyTrac.   

 

Georgia’s foreclosure rate of one new foreclosure filing for every 439 households ranked third highest among the states and was more than twice the national average. Georgia also ranked high in terms of total foreclosure filings for the month, coming in sixth place.

 

“Mortgage fraud, liberal lending practices, and inexperienced investors, along with corporate layoffs and slashed pension funds are contributing causes for the high foreclosure rate,” said Ken McCall, an Atlanta real estate agent.

 

Top four counties account for half of state’s foreclosure activity

Fulton, DeKalb, Gwinnett and Cobb counties accounted for 53 percent of all new foreclosure filings recorded in Georgia for November. Fulton County led the way, reporting 1,472 properties entering some stage of the foreclosure process. DeKalb County documented the second highest total, with 1,131 properties entering some stage of the foreclosure process. Reporting 637 properties entering some stage of the process, Gwinnett County came in third. Cobb County rounded out the top four, reporting 567 properties entering some stage of the foreclosure pipeline. Clayton County also reported significant activity for the month, with 471 properties entering some stage of the foreclosure process.

 

Fulton, Henry and Paulding counties post state’s highest foreclosure rates

Reporting one new foreclosure filing for every 105 households — 4.2 times the state average and 9.2 times the national average — Fulton County posted the highest foreclosure rate in the state for November. Henry County posted the second highest rate, with one new foreclosure filing for every 160 households — 2.7 times the state average and six times the national average. Rockdale County came in third, reporting one new filing for every 172 households — 2.6 times the state average and 5.6 times the national average.

 

State makes significant contribution to national total

Georgia’s foreclosure activity accounted for almost 6 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents an almost 4 percent increase from the 115,568 foreclosures reported in October. The national foreclosure rate increased to one new foreclosure filing for every 961 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                        Georgia Foreclosure Market by County – November 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Georgia

6

5,127

0

0

1,923

7,056

439

2.19

n/a

 

 

 

 

 

 

 

 

 

 

Bacon

0

0

0

0

0

0

 n/a

0.00

0.00

Baldwin

0

16

0

0

0

16

1,073

0.89

0.40

Banks

0

3

0

0

2

5

1,162

0.82

0.37

Barrow

0

70

0

0

0

70

247

3.88

1.77

Bartow

0

1

0

0

11

12

2,396

0.40

0.18

Ben Hill

0

10

0

0

1

11

693

1.38

0.63

Berrien

0

3

0

0

0

3

2,367

0.40

0.18

Bibb

0

127

0

0

0

127

529

1.81

0.82

Bleckley

0

0

0

0

0

0

 n/a

0.00

0.00

Brantley

0

0

0

0

0

0

 n/a

0.00

0.00

Brooks

0

0

0

0

0

0

 n/a

0.00

0.00

Bryan

0

0

0

0

0

0

 n/a

0.00

0.00

Bulloch

0

1

0

0

0

1

22,742

0.04

0.01

Burke

0

12

0

0

0

12

737

1.30

0.59

Butts

0

1

0

0

0

1

7,380

0.13

0.05

Camden

0

11

0

0

0

11

1,542

0.62

0.28

Carroll

0

80

0

0

41

121

282

3.41

1.55

Catoosa

0

19

0

0

10

29

752

1.27

0.58

Charlton

0

0

0

0

0

0

 n/a

0.00

0.00

Chatham

0

98

0

0

21

119

838

1.14

0.52

Chattooga

0

8

0

0

0

8

1,335

0.72

0.32

Cherokee

0

106

0

0

48

154

337

2.84

1.30

Clarke

0

33

0

0

0

33

1,277

0.75

0.34

Clayton

1

388

0

0

82

471

184

5.23

2.39

Cobb

1

385

0

0

181

567

419

2.29

1.04

Colquitt

0

13

0

0

0

13

1,350

0.71

0.32

Columbia

0

19

0

0

3

22

1,515

0.63

0.29

Cook

0

0

0

0

0

0

 n/a

0.00

0.00

Coweta

0

68

0

0

24

92

361

2.66

1.21

Crawford

0

1

0

0

0

1

4,872

0.19

0.09

Crisp

0

5

0

0

0

5

1,912

0.50

0.23

Dawson

0

1

0

0

3

4

1,791

0.53

0.24

Decatur

0

1

0

0

0

1

11,968

0.08

0.03

Dekalb

2

744

0

0

385

1,131

231

4.16

1.90

Dodge

0

0

0

0

0

0

 n/a

0.00

0.00

Dooly

0

0

0

0

0

0

 n/a

0.00

0.00

Dougherty

0

3

0

0

0

3

13,219

0.07

0.03

Douglas

0

121

0

0

64

185

188

5.10

2.33

Echols

0

0

0

0

0

0

 n/a

0.00

0.00

Effingham

0

0

0

0

2

2

7,085

0.13

0.06

Elbert

0

10

0

0

0

10

914

1.05

0.48

Evans

0

1

0

0

0

1

4,381

0.21

0.10

Fannin

0

6

0

0

0

6

1,856

0.51

0.23

Fayette

0

54

0

0

17

71

461

2.08

0.95

Floyd

0

90

0

0

0

90

407

2.36

1.07

Forsyth

0

47

0

0

36

83

440

2.18

0.99

Franklin

0

5

0

0

1

6

1,551

0.62

0.28

Fulton

2

908

0

0

562

1,472

105

9.17

4.19

Gilmer

0

1

0

0

0

1

11,924

0.08

0.03

Glynn

0

11

0

0

0

11

2,967

0.32

0.14

Gordon

0

27

0

0

10

37

463

2.07

0.94

Grady

0

0

0

0

0

0

 n/a

0.00

0.00

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Gwinnett

0

493

0

0

144

637

329

2.91

1.33

Habersham

0

7

0

0

0

7

2,091

0.46

0.21

Hall

0

58

0

0

22

80

638

1.50

0.68

Haralson

0

2

0

0

5

7

1,531

0.62

0.28

Harris

0

0

0

0

0

0

 n/a

0.00

0.00

Hart

0

11

0

0

0

11

1,010

0.95

0.43

Heard

0

2

0

0

0

2

2,256

0.42

0.19

Henry

0

223

0

0

47

270

160

6.01

2.74

Houston

0

40

0

0

0

40

1,113

0.86

0.39

Jackson

0

39

0

0

24

63

258

3.73

1.70

Jasper

0

8

0

0

2

10

481

1.99

0.91

Jeff Davis

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

1

0

0

0

1

7,221

0.13

0.06

Jenkins

0

1

0

0

0

1

3,907

0.24

0.11

Jones

0

6

0

0

0

6

1,545

0.62

0.28

Lamar

0

2

0

0

0

2

3,073

0.31

0.14

Lanier

0

0

0

0

0

0

 n/a

0.00

0.00

Laurens

0

2

0

0

0

2

9,844

0.09

0.04

Lee

0

1

0

0

0

1

8,813

0.10

0.05

Liberty

0

2

0

0

0

2

10,989

0.08

0.04

Lincoln

0

2

0

0

0

2

2,257

0.42

0.19

Lowndes

0

0

0

0

0

0

 n/a

0.00

0.00

Lumpkin

0

1

0

0

3

4

2,066

0.46

0.21

Macon

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

6

0

0

0

6

1,753

0.54

0.25

Marion

0

1

0

0

0

1

3,130

0.30

0.14

Mcduffie

0

0

0

0

2

2

4,458

0.21

0.09

McIntosh

0

0

0

0

0

0

 n/a

0.00

0.00

Meriwether

0

1

0

0

0

1

9,211

0.10

0.04

Miller

0

0

0

0

0

0

 n/a

0.00

0.00

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Morgan

0

4

0

0

0

4

1,532

0.62

0.28

Muscogee

0

78

0

0

0

78

977

0.98

0.44

Newton

0

5

0

0

1

6

3,839

0.25

0.11

Oconee

0

2

0

0

0

2

4,764

0.20

0.09

Oglethorpe

0

1

0

0

0

1

5,368

0.17

0.08

Paulding

0

130

0

0

25

155

189

5.08

2.32

Peach

0

2

0

0

0

2

4,547

0.21

0.09

Pickens

0

13

0

0

1

14

763

1.25

0.57

Pierce

0

0

0

0

0

0

 n/a

0.00

0.00

Pike

0

4

0

0

0

4

1,267

0.75

0.34

Polk

0

19

0

0

5

24

627

1.53

0.69

Pulaski

0

1

0

0

0

1

3,944

0.24

0.11

Putnam

0

1

0

0

0

1

10,319

0.09

0.04

Rabun

0

4

0

0

0

4

2,553

0.37

0.17

Richmond

0

131

0

0

59

190

433

2.21

1.01

Rockdale

0

92

0

0

54

146

172

5.59

2.55

Schley

0

1

0

0

0

1

1,612

0.59

0.27

Screven

0

1

0

0

0

1

6,853

0.14

0.06

Seminole

0

0

0

0

0

0

 n/a

0.00

0.00

Spalding

0

45

0

0

16

61

377

2.54

1.16

Stephens

0

8

0

0

0

8

1,457

0.66

0.30

Sumter

0

7

0

0

0

7

1,957

0.49

0.22

Talbot

0

1

0

0

0

1

2,871

0.33

0.15

Tattnall

0

3

0

0

0

3

2,859

0.33

0.15

Taylor

0

1

0

0

0

1

3,978

0.24

0.11

Telfair

0

1

0

0

0

1

5,083

0.18

0.08

Terrell

0

0

0

0

0

0

 n/a

0.00

0.00

Thomas

0

0

0

0

0

0

 n/a

0.00

0.00

Tift

0

5

0

0

0

5

3,082

0.31

0.14

Toombs

0

1

0

0

0

1

11,371

0.08

0.03

Towns

0

0

0

0

0

0

 n/a

0.00

0.00

Troup

0

2

0

0

0

2

11,912

0.08

0.03

Twiggs

0

4

0

0

0

4

1,073

0.89

0.40

Union

0

0

0

0

0

0

 n/a

0.00

0.00

Upson

0

0

0

0

0

0

 n/a

0.00

0.00

Walker

0

90

0

0

0

90

284

3.38

1.54

Walton

0

16

0

0

8

24

938

1.02

0.46

Ware

0

1

0

0

0

1

15,831

0.06

0.02

Wayne

0

0

0

0

0

0

 n/a

0.00

0.00

White

0

3

0

0

1

4

2,364

0.40

0.18

Whitfield

0

29

0

0

0

29

1,370

0.70

0.32

Wilkes

0

4

0

0

0

4

1,256

0.76

0.35

Worth

0

0

0

0

0

0

 n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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