SOUTH CAROLINA FORECLOSURES UP 23 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State Activity Level Down 12 Percent From a Year Ago

 

IRVINE, Calif. – Nov. 10, 2006 – South Carolina reported 451 properties entering some stage of the foreclosure process in October, a 23 percent increase from the 368 properties reported in September, but declining 12 percent from the 513 properties reported for the same month last year, according to the RealtyTrac™ October 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 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.

 

“Although foreclosures in South Carolina increased for October, the numbers are still down from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Statistics show that employment growth throughout the state has continued to surpass the national average — especially in the information and construction sectors.  This is very likely contributing to the overall decline in foreclosures.”

 

South Carolina ranked 30th in the country in total foreclosures reported for October. The state’s foreclosure rate of one new foreclosure filing for every 3,886 households — way below the national average — ranks it 38th among the 50 states.

 

Greenville County has single highest foreclosure total in state

Greenville County led the state in foreclosures for October, reporting 77 properties entering some stage of the foreclosure process. Anderson County had the second highest total reporting 65 properties entering some stage of the foreclosure process for the month. Charleston County came in third with 57 properties entered the foreclosure pipeline. 

 

Anderson County posts state’s top foreclosure rate

Anderson County posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 1,126 households — 3.5 times the state average. Reporting one new foreclosure filing for every 1,347 households — 2.9 times the state average — Sumter County had the second highest foreclosure rate. Lexington County completed the top three with one new foreclosure filing for every 1,717 households — 2.3 times the state average.

 

State activity has minor impact on national total

South Carolina’s foreclosure activity accounted less than 1 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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).

 

               South Carolina Foreclosure Market by County – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

n/a

n/a

South Carolina

46

73

0

0

332

451

3,886

0.26

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

0

0

 n/a

0.00

0.00

Aiken

2

1

0

0

9

12

5,166

0.19

0.75

Allendale

0

0

0

0

0

0

 n/a

0.00

0.00

Anderson

0

6

0

0

59

65

1,126

0.89

3.45

Bamberg

0

0

0

0

0

0

 n/a

0.00

0.00

Barnwell

0

1

0

0

0

1

10,191

0.10

0.38

Beaufort

1

2

0

0

11

14

4,322

0.23

0.90

Berkeley

2

1

0

0

23

26

2,105

0.48

1.85

Calhoun

0

0

0

0

0

0

 n/a

0.00

0.00

Charleston

3

24

0

0

30

57

2,474

0.40

1.57

Cherokee

3

0

0

0

2

5

4,480

0.22

0.87

Chester

0

0

0

0

0

0

 n/a

0.00

0.00

Chesterfield

0

0

0

0

0

0

 n/a

0.00

0.00

Clarendon

0

0

0

0

0

0

 n/a

0.00

0.00

Colleton

1

1

0

0

0

2

9,065

0.11

0.43

Darlington

1

3

0

0

0

4

7,236

0.14

0.54

Dillon

1

0

0

0

0

1

12,679

0.08

0.31

Dorchester

2

1

0

0

0

3

12,412

0.08

0.31

Edgefield

0

0

0

0

0

0

 n/a

0.00

0.00

Fairfield

1

0

0

0

0

1

10,383

0.10

0.37

Florence

0

0

0

0

0

0

 n/a

0.00

0.00

Georgetown

1

1

0

0

5

7

4,040

0.25

0.96

Greenville

1

9

0

0

67

77

2,114

0.47

1.84

Greenwood

0

1

0

0

0

1

28,243

0.04

0.14

Hampton

0

0

0

0

0

0

 n/a

0.00

0.00

Horry

0

1

0

0

40

41

2,978

0.34

1.31

Jasper

0

0

0

0

0

0

 n/a

0.00

0.00

Kershaw

1

0

0

0

0

1

22,683

0.04

0.17

Lancaster

0

0

0

0

9

9

2,774

0.36

1.40

Laurens

1

0

0

0

0

1

30,239

0.03

0.13

Lee

1

0

0

0

0

1

7,670

0.13

0.51

Lexington

3

2

0

0

48

53

1,717

0.58

2.26

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Marlboro

1

1

0

0

0

2

5,947

0.17

0.65

Mccormick

0

0

0

0

0

0

 n/a

0.00

0.00

Newberry

1

3

0

0

0

4

4,201

0.24

0.93

Oconee

0

1

0

0

0

1

32,383

0.03

0.12

Orangeburg

3

2

0

0

2

7

5,615

0.18

0.69

Pickens

1

1

0

0

0

2

23,000

0.04

0.17

Richland

5

3

0

0

2

10

12,879

0.08

0.30

Saluda

0

0

0

0

0

0

 n/a

0.00

0.00

Spartanburg

4

2

0

0

0

6

17,831

0.06

0.22

Sumter

4

3

0

0

24

31

1,347

0.74

2.89

Union

1

0

0

0

0

1

13,351

0.07

0.29

Williamsburg

0

0

0

0

0

0

 n/a

0.00

0.00

York

1

3

0

0

1

5

13,212

0.08

0.29

 

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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