georgia foreclosure situation & outlook for slideshare

GEORGIA DISTRESSED SALES MARKET

with 2013 foreclosure market outlook

What we’ll cover today

• U.S. & State Historical Foreclosure Trends

• 2012 Market Summary

• Disposing of Distressed Inventory

• Conclusions

• RealtyTrac Resources

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U.S. AND STATE FORECLOSURE TRENDS

NATIONAL HISTORICAL TRENDS

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More than 10 million starts and nearly 5

million completions (REO) since January

2006

More than 10 million starts and nearly 5

million completions (REO) since January

2006

GEORGIA HISTORICAL TRENDS

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Foreclosure starts past peak, but REOs actually

increased slightly in 2012 from 2011

Foreclosure starts past peak, but REOs actually

increased slightly in 2012 from 2011

POSSIBLE BACKLOG FORMING?

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July court ruling corresponds with sharp

drop in foreclosure activity

July court ruling corresponds with sharp

drop in foreclosure activity

ROBO-SIGNING ROLLER COASTER

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Robo-signing controversy hits in

October 2010

Robo-signing controversy hits in

October 2010

13 straight months of annual declines until National Mortgage

Settlement finalized in April 2012

13 straight months of annual declines until National Mortgage

Settlement finalized in April 2012

GA Court of Appeals ruling in

July triggers another slowdown

GA Court of Appeals ruling in

July triggers another slowdown

HARDEST HIT GEORGIA COUNTIES

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2012 FORECLOSURE SUMMARY

• 1.8 million U.S. properties with foreclosure filings• Down 3% from 2011, down 36% from 2010• 25 states (mostly judicial) with increasing activity

• 105,000 Georgia properties with foreclosure filings• Down 4% from 2011, down 19% from 2010• 70 out of 159 counties with increasing activity• 2.58% of housing units with filing (No. 4 among states)

• 76,000 Atlanta properties with foreclosure filings• Down 5% from 2011, down 20% from 2010• 3.51% of housing units with filing (No. 7 among metros)

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DISPOSING OF DISTRESSED INVENTORY

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UNSOLD REO INVENTORY

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Atlanta has third highest REO inventory total behind

Chicago and Miami

Atlanta has third highest REO inventory total behind

Chicago and Miami

REO SALES PICKING BACK UP

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14% quarterly increase in Q314% quarterly increase in Q3

REO PRICES HOLDING STEADY

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SHORT SALES REALLY TAKING OFF

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40% annual increase in Q340% annual increase in Q3

BUT SHORT SALE PRICES SLIDING

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14% annual decrease in Q314% annual decrease in Q3

PLENTY OF POTENTIAL SHORT SALES

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SHORT SALES MOVING UPSTREAM

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31 states posted annual increases in non-

foreclosure short sales in Q3 2012

31 states posted annual increases in non-

foreclosure short sales in Q3 2012

32 percent increase in Georgia

32 percent increase in Georgia

CONCLUSIONS

• Plenty of inventory already in the pipeline• Banks will eventually release REOs for sale in

greater numbers• Short sales will continue to increase as an

alternative to foreclosure

• Possible jump in foreclosure activity later in 2013• Foreclosures delayed by court ruling will

eventually be pushed into the process

• Long-term foreclosure trend is still downward

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REALTYTRAC RESOURCES

• Local Stats & Trends (free and embeddable)• http://www.realtytrac.com/trendcenter/

• Real Estate News & Reports (free)• http://www.realtytrac.com/content

• Professional subscription (address-level access)• http://www.realtytrac.com/professionals

• Buyer leads (exclusive territories)• Call 800.306.5930

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