Runs up to about 40% in South Carolina, in the third quarter

By Andy Owens
aowens@scbiznews.com
Published on 14 October 2010

Executions in South Carolina were more than 39% in the third quarter compared to the same period in 2009, a real estate tracking firm reported national today.

RealtyTrac, which published its quarterly report on the national beleaguered housing market, also showed that the foreclosure filings distressed properties in State rallied around 13% of second quarter for the third quarter of 2010.

One out of every property 195 houses in South Carolina had at least one deposit against him in the third quarter, show data of RealtyTrac. Nationally, closing numbers fell by almost 1% since the third quarter of 2009 and 2010 Q3. on a monthly basis, foreclosures jumped more than 25% in September than in the same month in 2009.

All these numbers could change dramatically in the coming months whether crossing a national stop on foreclosures.

State of the United States Officials are investigating the actions of mortgage companies after some lenders said that there was a problem with unverified information and possibly spoofed in closing documents.

Shutdown problems escalated during the week after Bank of America, JPMorgan Chase and GMAC Mortgage voluntarily put a halt in executions until they could review their roles and processes.

"Whether creditors may resolve the problem of documentation quickly then we'd expect the temporary truce in foreclosure activity to be followed by a parallel increase in activity as many foreclosures late next in the process of foreclosure," said RealtyTrac CEO James j. Saccacio.

Distressed assets represent almost one-third of all home sales, RealtyTrac data show.

Many of the most populous state municipalities saw more foreclosures in the third quarter of 2010 than in the third quarter of 2009, with two exceptions. Richland counties and Greenville had fewer in the second quarter of 2010 and in the third quarter of 2009. less populous Newberry County also fell in both columns.

Executions in South Carolina
The chart below shows percentage changes in foreclosures in selected municipalities in South Carolina.County

The Grand Strand
Georgetown
Horry

Lowcountry
Berkeley
Charleston
Dorchester

Midlands
Lexington
Newberry
Orangeburg
Richland
Sumter

Upstate
Anderson
Greenville
Spartanburg

Statewide

chg.% Q2 2010

-2.56%
% 84 11

% 32 79
-2.82%
% 37.92

15%
-29.03%
% 15.29
64%
% 35 03

88%
-11.44%
-% 19.78

12.67%

chg.% in Q3 2009

% 58 33
% 107.68

% 58 07
% 28 71
64% 102.

% 42 38
-% 55 10
-7.55%
-8.34%
% 54 74

% 152.24
-6.85%
% 212.77

evaluation%

Source: RealtyTrac

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