Updates on Charleston SC Foreclosures

So how is South Carolina and Charleston, SC doing when it comes to foreclosures? News articles across the board show foreclosure rates going up one month, and down the next. South Carolina seems to be holding its own right in the middle of the pack when it comes to state foreclosure rankings. The Charleston area seems a bit strong than most however. No doubt we have our fair share of distressed properties that have help drag prices down in most neighborhoods. A review of the top ten sales agents in the area reveals that 9 out of the 10 are agents that deal mostly with foreclosure properties according to the Charleston Trident Association of REALTORS Multiple Listing Service for 2011. Buyers and investors are out there snapping up foreclosures.

Andy Owens of the Charleston Regional Business Journal writes "Across South Carolina, May foreclosure rates were highest mostly in coastal counties, including Beaufort, Berkeley, Charleston, Dorchester and Horry, the data show. Smaller counties, by population, had the fewest number of foreclosure filings, and several showed no filings for the month."
Foreclosure rates "This list includes the 10 counties with the highest rates of foreclosure filings for May in South Carolina. Rate indicates homes in distress, meaning having received at least a notice of default. Lower numbers indicate more homes are in foreclosure as a percentage of homeownership in the county."

County Beaufort Dorchester Charleston Berkeley Kershaw Horry Sumter Pickens Greenville Lexington State average U.S. average

Rate 1 in 386 1 in 447 1 in 464 1 in 468 1 in 471 1 in 504 1 in 544 1 in 560 1 in 579 1 in 579 1 in 730 1 in 605

Source: ReatlyTrac | Article: Charleston Regional Business Journal by Andy Owens