SOUTH CAROLINA FORECLOSURES INCREASE 16 PERCENT IN

NOVEMBER ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Down 42 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – South Carolina reported 522 properties entering some stage of the foreclosure process in November, a 16 percent increase from the 451 properties reported in October, but a 42 percent drop from the 898 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 more than 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.

 

“Job growth across South Carolina remains strong, especially within its services and construction sectors,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure activity is still lower than this time last year and demand for real estate loans remains high.”

 

South Carolina ranked 30th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 3,358 households — 0.29 times the national average — ranks it 35th among the 50 states.

 

Greenville County leads state in activity

Greenville County led the state reporting 88 properties entering some stage of the foreclosure process during the month. Anderson County registered the second highest total, reporting 69 properties in some stage of the foreclosure process for the month, followed by Richland County reporting the third highest total with 54 properties entering some stage of the foreclosure process.

 

Fairfield County posts state’s top foreclosure rate

Fairfield County posted the top foreclosure rate in the state for November, reporting one new foreclosure filing for every 649 households — 5.2 times the state average and 1.5 times the national average. Next highest was Anderson County reporting one new foreclosure filing for every 1,061 households — 3.2 times the state average and 0.9 times the national average. The third highest rate in the state was found in Edgefield County, which reported one new foreclosure filing for every 1,153 households — 2.9 times the state average and 0.8 times the national average.

 

State total has little impact on national total

South Carolina’s foreclosure activity accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s 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.

 

             South Carolina Foreclosure Market by County – November 2006

 

County 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

South Carolina

25

66

0

0

431

522

3,358

0.29

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

0

0

n/a

0.00

0.00

Aiken

0

1

0

0

29

30

2,066

0.46

1.62

Anderson

1

6

0

0

62

69

1,061

0.90

3.16

Barnwell

2

0

0

0

0

2

5,096

0.18

0.65

Beaufort

1

0

0

0

13

14

4,322

0.22

0.77

Berkeley

0

1

0

0

22

23

2,379

0.40

1.41

Charleston

1

17

0

0

11

29

4,863

0.19

0.69

Cherokee

0

0

0

0

0

0

n/a

0.00

0.00

Chester

0

2

0

0

0

2

7,187

0.13

0.46

Clarendon

0

0

0

0

1

1

15,303

0.06

0.21

Colleton

1

1

0

0

3

5

3,626

0.26

0.92

Darlington

2

0

0

0

0

2

14,471

0.06

0.23

Dillon

0

0

0

0

0

0

n/a

0.00

0.00

Dorchester

1

1

0

0

2

4

9,309

0.10

0.36

Edgefield

0

0

0

0

8

8

1,153

0.83

2.91

Fairfield

0

0

0

0

16

16

649

1.48

5.17

Florence

1

1

0

0

1

3

17,279

0.05

0.19

Georgetown

1

0

0

0

6

7

4,040

0.23

0.83

Greenville

0

9

0

0

79

88

1,850

0.51

1.81

Greenwood

0

4

0

0

0

4

7,061

0.13

0.47

Hampton

0

0

0

0

0

0

n/a

0.00

0.00

Horry

0

0

0

0

30

30

4,070

0.23

0.82

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Kershaw

0

1

0

0

0

1

22,683

0.04

0.14

Lancaster

0

0

0

0

12

12

2,080

0.46

1.61

Laurens

2

0

0

0

0

2

15,120

0.06

0.22

Lee

1

0

0

0

0

1

7,670

0.12

0.43

Lexington

0

2

0

0

48

50

1,820

0.52

1.84

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marlboro

0

0

0

0

0

0

n/a

0.00

0.00

McCormick

0

0

0

0

0

0

n/a

0.00

0.00

Newberry

0

1

0

0

0

1

16,805

0.05

0.20

Oconee

1

1

0

0

0

2

16,192

0.05

0.20

Orangeburg

2

1

0

0

24

27

1,456

0.66

2.30

Pickens

0

1

0

0

0

1

46,000

0.02

0.07

Richland

4

7

0

0

43

54

2,385

0.40

1.40

Saluda

0

0

0

0

0

0

n/a

0.00

0.00

Spartanburg

1

2

0

0

1

4

26,747

0.03

0.12

Sumter

0

4

0

0

19

23

1,815

0.52

1.85

Union

0

1

0

0

0

1

13,351

0.07

0.25

Williamsburg

1

0

0

0

0

1

15,552

0.06

0.21

York

2

2

0

0

1

5

13,212

0.07

0.25

 

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

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