Foreclosures down 43 percent from 2012
by Sarah Fay Campbell
There are 93 foreclosurerelated advertisements in today's legal section of The Newnan Times-Herald.
The total is up from last month's 76, but it is still the second-lowest number since July of 2007.
Foreclosures have been down significantly in 2013, except for a slight uptick in February and March, and Coweta's housing market is booming - with higher prices, quick sell times and multiple offers.
Nationally, completed foreclosures in July, the last month for which those figures are available, were down 25 percent from a year ago, according to CoreLogic. There was a 8.6 percent decrease from June 2013 to July 2013.
There were 49,000 completed foreclosures in the U.S. in July 2013, compared to 65,000 in July 2012.
That's still signif icantly higher than before the housing crisis began in 2008. Between 2000 and 2006, completed foreclosures averaged 21,000 per month.
The national foreclosure inventory is also down. That's the total number of homes that are in some stage of the foreclosure process. In July 2012, it was 1.4 million; in July 2013, it was 949,000.
'As the housing market continues to recover, the foreclosure inventory is declining quickly, down by 32 percent from a year ago,' said Mark Fleming, chief economist for CoreLogic.
'Continued strength in the housing market will contribute to our outlook for ongoing improvement in the stock of distressed assets through the end of this year.'
'Every state posted a yearover- year decline in foreclosures and serious delinquencies fell to the lowest level since December 2008,' said Anand Nallathambi, president and CEO of CoreLogic.
Most of the foreclosures in today's paper are single-family homes.
Two commercial properties are 30 Bullsboro Drive, the location of Southern Mattress and Furniture, and 1373 Bullsboro Drive, Southern Mattress Outlet. Both are owned by Peter Hurler and Albert Dumas.
Also in the foreclosure advertisements are the Smokerise duplexes on Georgian Drive, owned by Atlas Investment Properties.