GEORGIA FORECLOSURES INCREASE 7 PERCENT IN JULY

Market Activity Up 15 Percent From Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – August 11, 2006 – Georgia reported 4,707 properties entering some stage of the foreclosure process in July, a 7 percent increase from the 4,390 properties reported in June and 15 percent above the 4,107 properties reported for the same month last year, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

Georgia‘s foreclosure levels continue to be unstable. After an impressive 24 percent decline in activity for June following a 12 percent increase in May, the July numbers are back up 7 percent, ranking the state seventh highest in the country,” said James J. Saccacio, chief executive officer of RealtyTrac. “With so many buyers financing their homes using various types of adjustable mortgages over the past few years, it’s going to take time for foreclosure activity to settle down.”

 

While Georgia‘s foreclosure total was only 300 foreclosures behind sixth place Illinois, it was 8,400 foreclosures behind national leader Texas. The other states with higher total foreclosures for the month were Florida with 10,757 properties, California with 10,025 properties, Michigan with 6,070 properties and Ohio with 5,486 properties in the foreclosure pipeline. The state’s foreclosure rate of one new foreclosure filing for every 658 households ranks it fourth highest in the nation — 1.9 times the national average.

 

Top five counties account for majority of state’s activity

Fulton, DeKalb, Gwinnett, Cobb and Clayton counties were responsible for 63 percent of all foreclosures in Georgia for July. Fulton County recorded the highest total, reporting 844 properties entering some stage of the foreclosure process. Dekalb County was second highest reporting 784 properties entering some stage of the process, with Gwinnett County reporting 599 properties entering the foreclosure pipeline. Cobb County had the fourth highest total reporting 377 properties and Clayton County rounded out the top five reporting 342 properties in foreclosure.

 

Henry County posts highest foreclosure rate for the month

Henry County posted the state’s highest foreclosure rate in July, reporting one new foreclosure filing for every 167 households — 3.9 times the state average and 7.4 times the national average. With one new foreclosure filing for every 183 households — 3.6 times the state average and 6.8 times the national average — Fulton County had the second highest rate in the state. Paulding County posted the third highest rate, reporting one new foreclosure filing for every 214 households — 3.1 times the state average and 5.8 times the national average.

 

State activity makes an impact on national total

Georgia‘s foreclosures accounted for 5 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 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).

 

                          Georgia Foreclosure Market by County – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Georgia

13

3,570

0

0

1,124

4,707

658

1.90

 

 

 

 

 

 

 

 

 

 

Appling

0

1

0

0

0

1

7,854

0.16

0.08

Bacon

0

1

0

0

0

1

4,464

0.28

0.15

Baldwin

0

1

0

0

0

1

17,173

0.07

0.04

Banks

0

0

0

0

3

3

1,936

0.64

0.34

Barrow

0

6

0

0

2

8

2,163

0.58

0.30

Bartow

0

1

0

0

18

19

1,513

0.82

0.43

Ben Hill

0

5

0

0

0

5

1,525

0.82

0.43

Berrien

0

0

0

0

0

0

0.00

0.00

Bibb

0

131

0

0

3

134

501

2.48

1.31

Bleckley

0

0

0

0

0

0

0.00

0.00

Brantley

0

0

0

0

0

0

0.00

0.00

Brooks

0

0

0

0

0

0

0.00

0.00

Bryan

0

0

0

0

0

0

0.00

0.00

Bulloch

0

1

0

0

2

3

7,581

0.16

0.09

Burke

0

1

0

0

0

1

8,842

0.14

0.07

Butts

0

0

0

0

0

0

0.00

0.00

Calhoun

0

0

0

0

1

1

2,305

0.54

0.29

Camden

0

0

0

0

0

0

0.00

0.00

Carroll

0

55

0

0

20

75

454

2.74

1.45

Catoosa

0

1

0

0

16

17

1,282

0.97

0.51

Charlton

0

0

0

0

0

0

0.00

0.00

Chatham

0

95

0

0

11

106

940

1.32

0.70

Chattahoochee

0

0

0

0

0

0

0.00

0.00

Cherokee

0

106

0

0

29

135

385

3.24

1.71

Clarke

0

0

0

0

0

0

0.00

0.00

Clayton

1

256

0

0

85

342

253

4.93

2.60

Clinch

0

0

0

0

1

1

2,837

0.44

0.23

Cobb

3

366

0

0

8

377

630

1.98

1.04

Colquitt

0

0

0

0

1

1

17,554

0.07

0.04

Columbia

0

32

0

0

12

44

757

1.64

0.87

Cook

0

0

0

0

0

0

0.00

0.00

Coweta

0

63

0

0

9

72

461

2.70

1.43

Crawford

0

3

0

0

0

3

1,624

0.77

0.41

Crisp

0

0

0

0

1

1

9,559

0.13

0.07

Dawson

0

0

0

0

6

6

1,194

1.04

0.55

Decatur

0

0

0

0

0

0

0.00

0.00

Dekalb

2

557

0

0

225

784

333

3.74

1.97

Dodge

0

0

0

0

0

0

0.00

0.00

Dooly

0

0

0

0

1

1

4,499

0.28

0.15

Dougherty

0

1

0

0

0

1

39,656

0.03

0.02

Douglas

1

100

0

0

1

102

341

3.65

1.93

Early

0

0

0

0

0

0

0.00

0.00

Effingham

0

0

0

0

6

6

2,362

0.53

0.28

Elbert

0

1

0

0

0

1

9,136

0.14

0.07

Emanuel

1

0

0

0

0

1

9,419

0.13

0.07

Fannin

0

0

0

0

0

0

0.00

0.00

Fayette

1

49

0

0

1

51

642

1.94

1.03

Floyd

0

2

0

0

0

2

18,308

0.07

0.04

Forsyth

0

41

0

0

14

55

664

1.88

0.99

Franklin

0

0

0

0

3

3

3,101

0.40

0.21

Fulton

1

758

0

0

85

844

183

6.82

3.60

Gilmer

0

0

0

0

0

0

0.00

0.00

Glynn

0

1

0

0

0

1

32,636

0.04

0.02

Gordon

0

0

0

0

7

7

2,449

0.51

0.27

Grady

0

0

0

0

0

0

0.00

0.00

Greene

0

0

0

0

0

0

0.00

0.00

Gwinnett

0

380

0

0

219

599

350

3.56

1.88

Habersham

0

12

0

0

2

14

1,045

1.19

0.63

Hall

0

54

0

0

19

73

699

1.78

0.94

Hancock

0

0

0

0

0

0

0.00

0.00

Haralson

0

2

0

0

3

5

2,144

0.58

0.31

Harris

0

0

0

0

0

0

0.00

0.00

Hart

0

0

0

0

0

0

0.00

0.00

Heard

0

1

0

0

1

2

2,256

0.55

0.29

Henry

0

140

0

0

118

258

167

7.44

3.93

Houston

0

47

0

0

1

48

927

1.34

0.71

Irwin

0

1

0

0

0

1

4,149

0.30

0.16

Jackson

0

3

0

0

15

18

901

1.38

0.73

Jasper

0

0

0

0

5

5

961

1.30

0.68

Jeff Davis

0

1

0

0

0

1

5,581

0.22

0.12

Jefferson

0

0

0

0

1

1

7,221

0.17

0.09

Jones

0

0

0

0

1

1

9,272

0.13

0.07

Lamar

0

0

0

0

0

0

0.00

0.00

Lanier

0

0

0

0

0

0

0.00

0.00

Laurens

0

0

0

0

2

2

9,844

0.13

0.07

Lee

0

0

0

0

0

0

0.00

0.00

Liberty

0

1

0

0

0

1

21,977

0.06

0.03

Lincoln

0

0

0

0

0

0

0.00

0.00

Lowndes

0

0

0

0

0

0

0.00

0.00

Lumpkin

0

0

0

0

8

8

1,033

1.21

0.64

Macon

0

0

0

0

0

0

0.00

0.00

Madison

0

0

0

0

1

1

10,520

0.12

0.06

Marion

0

0

0

0

0

0

0.00

0.00

Mcduffie

0

0

0

0

2

2

4,458

0.28

0.15

McIntosh

0

0

0

0

1

1

5,735

0.22

0.11

Meriwether

0

1

0

0

0

1

9,211

0.14

0.07

Miller

0

0

0

0

0

0

0.00

0.00

Mitchell

0

0

0

0

0

0

0.00

0.00

Morgan

0

0

0

0

0

0

0.00

0.00

Murray

0

0

0

0

2

2

7,160

0.17

0.09

Muscogee

1

0

0

0

2

3

25,394

0.05

0.03

Newton

0

3

0

0

15

18

1,280

0.97

0.51

Oconee

0

0

0

0

0

0

0.00

0.00

Oglethorpe

0

0

0

0

1

1

5,368

0.23

0.12

Paulding

0

99

0

0

38

137

214

5.83

3.08

Peach

0

3

0

0

1

4

2,273

0.55

0.29

Pickens

0

0

0

0

8

8

1,336

0.93

0.49

Pierce

0

0

0

0

0

0

0.00

0.00

Pike

0

0

0

0

0

0

0.00

0.00

Polk

0

8

0

0

4

12

1,255

0.99

0.52

Pulaski

0

0

0

0

0

0

0.00

0.00

Putnam

0

0

0

0

1

1

10,319

0.12

0.06

Rabun

0

3

0

0

0

3

3,403

0.37

0.19

Richmond

1

90

0

0

41

132

624

2.00

1.05

Rockdale

0

57

0

0

8

65

386

3.23

1.70

Seminole

0

0

0

0

0

0

0.00

0.00

Spalding

0

3

0

0

3

6

3,834

0.32

0.17

Stephens

0

1

0

0

0

1

11,652

0.11

0.06

Sumter

0

0

0

0

0

0

0.00

0.00

Talbot

0

0

0

0

0

0

0.00

0.00

Taliaferro

0

0

0

0

0

0

0.00

0.00

Tattnall

0

0

0

0

0

0

0.00

0.00

Telfair

0

0

0

0

0

0

0.00

0.00

Terrell

0

0

0

0

0

0

0.00

0.00

Thomas

0

1

0

0

1

2

9,143

0.14

0.07

Tift

0

0

0

0

2

2

7,706

0.16

0.09

Toombs

0

1

0

0

1

2

5,686

0.22

0.12

Towns

0

0

0

0

0

0

0.00

0.00

Troup

0

0

0

0

2

2

11,912

0.10

0.06

Twiggs

0

0

0

0

0

0

0.00

0.00

Union

0

0

0

0

0

0

0.00

0.00

Upson

0

0

0

0

0

0

0.00

0.00

Walker

0

2

0

0

2

4

6,394

0.19

0.10

Walton

1

13

0

0

18

32

703

1.77

0.94

Ware

0

0

0

0

1

1

15,831

0.08

0.04

Washington

0

0

0

0

0

0

0.00

0.00

Wayne

0

0

0

0

1

1

10,827

0.12

0.06

White

0

0

0

0

1

1

9,454

0.13

0.07

Whitfield

0

8

0

0

1

9

4,414

0.28

0.15

Wilcox

0

0

0

0

0

0

0.00

0.00

Worth

0

0

0

0

0

0

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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