Sullivan Co. in-foreclosure sales hit regional low, Greene, Hawkins see big increases


Sales of Tri-Cities properties in-foreclosure followed the national down pattern in July in all but two local counties.

Compared to July last year, the share of in-foreclosure sales in Greene and Hawkins counties was substantially higher.

in-foreclosure sales

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According to RealtyTrac’s July  Home Sales report the sale of properties sold while in the foreclosure process (not including bank-owned properties) accounted for 6.4% of all single family and condo sales in July, down from 6.6 % in June and down from 8% in July 2014 to the lowest monthly share since January 2000 — the earliest that data is available.

In 61 of the 172 markets analyzed for in-foreclosure sales (35 percent), the share of in-foreclosure sales increased from a year ago, counter to the national trend. Those markets included Chicago, Atlanta, Boston, Baltimore and Pittsburgh. Hawkins and Greene were in this category.

Hawkins County had the highest share of in-foreclosure sales in the Tri-Cities in July and made a substantial increase from June.

Greene County’s share was the second highest in the region and consistent with the June share.

The data worth note is the Sullivan County share. It stood at less than a full percent compared to 5.4% July last year.

The regional other largest county market – Washington – was down but the share hasn’t changed that much from July last year.

RealtyTrac defines Properties in-foreclosure as a sale of a property that occurs while the property is actively in some stage of foreclosure (NOD, LIS, NTS or NFS). This includes only sales to third-party buyers or investors not involved in the foreclosure process. It does not include property transfers from the owner in default to the foreclosing bank or lender.

 

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