georgia foreclosure situation & outlook for slideshare
TRANSCRIPT
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
©RealtyTrac Inc. 2012, Not for Distribution 2
U.S. AND STATE FORECLOSURE TRENDS
NATIONAL HISTORICAL TRENDS
©RealtyTrac Inc. 2013, Not for Distribution 4
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
©RealtyTrac Inc. 2013, Not for Distribution 18
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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