Foreclosures In County Up In July
After falling to its lowest level in a year in June, the number of Beaufort County homes in some stage of foreclosure more than doubled to 418 in July, according to RealtyTrac, a California firm that compiles such data.
The number of homes in default or foreclosure has increased from a handful in some months of 2005 to an average of more than 300 a month in 2010.
July’s total means one in every 199 homes in Beaufort County is in foreclosure, according to RealtyTrac. That’s the second highest rate in the state.
Dorchester County ranked first with one in every 193 homes in foreclosure.
Charles Sampson, president of the Hilton Head Area Association of Realtors, said an increasing number of foreclosed properties seems to appear each month in the Multiple Listing Service of Hilton Head Island.
Although the number and dollar volume of sales are increasing compared to last year at his firm, Charter I Realty & Marketing, he fears the county’s tide of foreclosures for sale could continue as banks market foreclosed properties they haven’t previously listed.
Todd McDaniel, president of the Beaufort County Association of Realtors, said there are about 170 distressed properties listed in the Beaufort Multiple Listing Service, about double the number from a year and a half ago but not significantly higher than have been listed more recently.
“We may be at a point where it’s starting to level off,” he said.
Jasper County remains relatively untouched by foreclosure, RealtyTrac’s data show. Six homes — one in every 1,534 — were in some stage of foreclosure in July. That’s up slightly from June’s total of five.
Jasper County’s highest monthly total since January 2007 was 15 in February of this year.
Read more: http://www.islandpacket.com/2010/08/11/1336049/number-of-home-foreclosures-in.html#ixzz0wPtt1WTn
