completed a review of foreclosure trends for real estate foreclosures in Newton County, Georgia. The study revealed and found over 95% of all foreclosures in the county are being actively marketed for re-sale. RealtyStore, the nation’s premier, consumer-focused provider of residential foreclosure listings, found 25% of homes for sale in Newton County are foreclosures. This is a significant level of foreclosure saturation, exceeding nearby Rockdale County (17%) but trailing Henry County Georgia (27%).

According to RealtyStore’s foreclosure database, in Newton County, 447 total foreclosures are presently recorded, but not yet re-sold, countywide. From the total of this REO count, 428, or 96% are currently listed with a price for re-sale. The remaining 19 properties are considered pending for listing and comprise the county’s ‘shadow inventory’. Other markets across the country show much higher levels of shadow inventory.

“Newton County displays a high incidence of REO listed properties, similar to levels recently found in Rockdale County and Henry County” noted Peter Ranck, Vice President with RealtyStore. “Rockdale County presented 91% of foreclosures on the market, while Henry County posted 90%. Newton leads this group with a 95% listing rate. It appears banks and the government enterprise REO owners are motivated to list their local properties, moreso than in other markets. For example, a recent study of St Louis Missouri found foreclosure listing rates much lower, at 35%. Another example of low foreclosure listing incidence was recently found in Fort Bend County, outside Houston, Texas. There, 42% of local foreclosures are being actively marketed for re-sale. The balance of each of these market’s foreclosures continue to build up their respective shadow inventory levels. Not so in Newton County Georgia.”

Local home prices were analyzed in the county. Home prices overall were reported at a median price of $110,000. Foreclosures show a median listed price of $78,950, or 28% lower than the market at large. This ‘foreclosure discount’ price in Newton County is in line with industry estimates that suggest foreclosures offer list prices that average 25% to 32% below typical market median prices. It is understood that individual location, size, condition and existing amenities, among other factors, ultimately help determine home prices in general. However, foreclosures on average continue to post below market levels, such as in Newton County. View individual foreclosure listings at http://www.realtystore.com/foreclosures .

In terms of prices by foreclosure seller, bank foreclosures in Newton County showed the widest range, listing from $6,000 to $340,000, and a median price of $79,900. Bank foreclosures represent 79% of the county’s foreclosures. The rest of Newton County’s foreclosures are owned and listed for re-sale by government sponsored entities, such as Fannie Mae, the VA and HUD. A Freddie Mac or Fannie Mae foreclosure ranges in price from $19,900 to $209,000, with a median of $84,900. The VA owns one foreclosure in the county, which it has listed for public purchase at $67,900. HUD foreclosure listings in Newton County range from $10,000 up to $147,000, with a median price of $59,700. Note: the two lowest priced foreclosed bank and HUD properties currently listed for sale are vacant residential lots.

Learn more about listings of HUD homes at http://www.realtystore.com/foreclosures/hud-homes .

For additional details and specific bank foreclosures, http://www.realtystore.com/foreclosures/bank-foreclosure …

Glossary of foreclosure listings terms:

Shadow inventory = REO property which is held free and clear by an institutional owner (a bank or a government sponsored enterprise) but is not actively listed for re-sale or marketed to third parties, including the public.

REO = Real Estate Owned. These are homes or land foreclosed upon and having title fully assumed by a lending institution, bank or a government sponsored enterprise such as HUD homes, Fannie Mae or Freddie Mac.

Foreclosure listing = An REO property with a posted for-sale asking price.

Median price = The mid point of all prices of homes listed for sale in the market. The point where half of homes for sale are priced above and half are listed below the reported median price.

About RealtyStore
RealtyStore (www.realtystore.com), a division of Nations Info Corporation, is the leading provider of foreclosure listings and discount property data nationwide. RealtyStore’s mission is to empower its customers with the tools, education and analysis required to identify and potentially maximize profits with undervalued real estate. Collected from hundreds of public and private sources, RealtyStore’s proprietary database includes over 1 million listings including pre foreclosures, foreclosures, short sales, tax defaults and rent to own or owner financed listings. As the foreclosure listings industry leader, RealtyStore.com is the most visited foreclosure website, averaging over 1.1 million unique visitors per month in Q3, 2010. Realtystore.com is the only specialized foreclosures website to rank in the Hitwise Top 20 Internet Usage Report for the Real Estate Category (October 2010).

Reporting methodology
The RealtyStore County Foreclosures Review provides the total number of REO (real estate owned) foreclosed properties with a recording date on or before the date of this release. REO properties have completed the foreclosure process and have been repossessed by a bank or government sponsored loan guarantor such as Fannie Mae, Freddie Mac, HUD or the VA. REO title holders and inventory counts in any area can vary at any time. Counts and prices are accessed through RealtyStore’s proprietary database which is derived through hundreds of public and private data providers. Local housing market data is derived from third party and public records offices.