Industrial foreclosures absent from Jan. numbers

by Sarah Fay Campbell

There were 62 foreclosure-related advertisements listed in The Newnan Times-Herald this month, and all were for residential properties.

There was not a commercial or industrial property listed in the January foreclosure advertisements — and that’s a rarity. There was one foreclosure for multiple lots in the Savannah Woods subdivision, but the rest of the advertisements were for single-family homes.

This month’s total is continuing a trend of significantly lower numbers since August 2013 that have brought us statistics not seen since 2006.

There were also 62 foreclosures in October 2013. In November, there were just 57 — the lowest number since at least 2005. Nationally, the U.S. foreclosure inventory is down 34 percent from a year ago, according to CoreLogic, a residential property information, analytics and services provider.

CoreLogic’s November National Foreclosure Report was released on Jan. 3. The report tracks completed foreclosures, whereas foreclosure advertisements indicate the start of the foreclosure process.

There were 46,000 completed foreclosures in the United States in November, down from 64,000 in November 2012.

In comparison, during the residential boom years of 200 to 2006, there were an average of 21,000 foreclosures per month, nationwide.

Foreclosure numbers over the last year for Coweta County are:

• Feb. 2013 - 166 (up from 165 in 2012, 0.99 percent)

• March 2013 - 178 (up from 164 in 2012, or 7.9 percent)

• April 2013 - 108 (down from 162 in 2012, or -33 percent)

• May 2013 - 105 (down from 214 in 2012, or -51 percent)

• June 2013 - 105 (down from 185 in 2012, or -57 percent)

• July 2013 - 128 (down from 224 in 2012, or - 57 percent)

• Aug. 2013 - 76 (down from 160 in 2012, or 52.5 percent)

• Sept. 2013 - 93 (down from 163 in 2012, or - 43 percent)

• Oct. 2013 - 62 (down from 165 in 2012, or - 62 percent)

• Nov. 2013 - 57 (down from 140 in 2012, or -59 percent)

• Dec. 2013 - 73 (down from 102 in 2012, or -28 percent)

• Jan. 2014 - 62 (down from 115 in 2013, or -46 percent)

(Source: The Newnan Times-Herald legal advertising department.)





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