4:02 am December 13, 2010, by Henry Unger
Foreclosure notices in metro Atlanta fell 30 percent in December from a record level in November, according to data released Monday by Equity Depot.
For all of 2010, a new record of 127,140 notices was set, eclipsing last year’s record by 8.6 percent, Equity Depot said. Foreclosure notices this year were 60 percent greater than they were in 2008.
“With decreased property values and continued high unemployment in Georgia, it’s hard to forecast any decline for 2011,” Barry Bramlett, president of Alpharetta-based Equity Depot, said in an email to the AJC.
Foreclosure notices of sale published this month are for auctions set for next month.
For December, there were 9,703 notices in the metro area. That’s down from November’s record of 13,834, but still very high.
It may be instructive to look at the entire fourth quarter of the year for a more accurate picture of what’s been happening lately. That’s because one month’s numbers may be artificially distorted since some lenders imposed a short moratorium on foreclosures to investigate internal paperwork problems.
For the fourth quarter, notices were up 18 percent when compared with the same period last year.
For all of 2010, Gwinnett surpassed Fulton as the leading county for foreclosure actions in Georgia with 26,502 notices, Equity Depot said.
Fulton ended up with 24,446 notices, followed by DeKalb with 19,307. Cobb was fourth with 15,000 notices, followed by Clayton with 10,451.
- Henry Unger, The Biz Beat
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