Local foreclosures remain under 60 in July

by Sarah Fay Campbell

There are 57 foreclosure-related advertisements in today’s Newnan Times-Herald.

July is the fourth straight month that the foreclosure numbers have been below 60. The numbers over the past several months are even lower than foreclosure totals during the height of the housing boom. The lowest number from 2006 to mid-2013 was 60.

Though Coweta’s housing market has bounced back strongly and foreclosures are down to pre-recession levels, the numbers aren’t quite as good for the rest of the country.

Nationally, in May, there were 47,000 completed foreclosures, according to CoreLogic, which released its May report on July 8. That was down from 52,000 in May 2013, and up from 45,000 in April 2014.

Between 2000 and 2006, completed foreclosures averaged 21,000 per month, nationally, according to CoreLogic.

But the trends are still positive. In May, there were approximately 660,000 homes in the United States in some state of foreclosure. This is known as the “foreclosure inventory." A year ago, the foreclosure inventory stood at 1 million.

Between May 2013 and May 2014, every state except New York had double-digit declines in foreclosures.

During that time, Georgia remained in the top five states for the total number of foreclosures, with 31,819. Georgia’s foreclosure inventory was down 0.8 percent from a year ago.

Among the foreclosures listed in today’s paper are three tracts at 1700 Hwy. 34 East, including the Dairy Queen. Two tracts that make up the Dairy Queen property are owned by Rusdah Inc., and an adjacent tract is owned by Zaheen LLC.

Two other commercial foreclosures are re-runs.

The advertisement for property on Newnan Station Drive occupied by Bruster’s Ice Cream/Nathan's Famous ran last month as well. The property is owned by IC Real Estate Newnan LLC.

An advertisement for 21 Jackson Street, owned by Avondale Jackson LLC, also ran in May and June.

Foreclosure numbers over the last year are as follows:

• July 2014 - 57 (down from 128 in 2013, or - 55 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)

• Feb. 2014 - 60 (down from 166 in 2013, or -64 percent)

• March 2014 - 49 (down from 178 in 2013, or -72 percent)

• April 2014 - 56 (down from 108 in 2013, or - 48 percent)

• May 2014 - 51 (down from 105 in 2013, or -51 percent)

• June 2014 - 47 (down from 105 in 2013, or -55 percent)

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



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