Bank and government foreclosed properties increased during the period January-June 2010 in South Carolina. A rise of 34% was recorded by the state for the said period when compared with the first six months of 2009. These foreclosures include households who are receiving a default notice for the first time and those properties that are already available for sale.
The problem of foreclosure has affected all aspects of housing in the state, including Greenville foreclosure investing. Despite the rise in foreclosure activities during the January-June six-month period of 2010, foreclosed properties account for less than one percent of the total number of dwellings in the state. South Carolina is ranked 20th among all states in terms of foreclosure filings for the period in focus.
Housing market statistics for the six-month period under scrutiny showed that South Carolina foreclosures had a ratio of one household for every 117 being under some form of foreclosure. Filings totaled 17,616 during the January-June period, representing less than 1% of total dwellings in the region.
The Lowcountry region recorded the highest numbers of bank and government foreclosed properties during the first half of the current year. Dorchester County recorded the highest foreclosure rate for the period, with one household in the county for every 55 being in some form of foreclosure. Dorchester is followed by Beaufort County, with a ratio of one household in distress for every 57.
For people who buy foreclosure properties for sale, their next choice would be Berkeley County which came in third in the whole state. The county had one household in distress for every 70 residential properties. Charleston County, on the other hand, had one household in distress for every 72 dwellings, while Greenville County has one household in some form of foreclosure for every 79 residences.
When it comes to the area with the lowest foreclosure rate, Bamberg County took the price. Bamberg had a ratio of one dwelling under stress for every 3,588. This represents a foreclosure rate of 0.03% for the first half of 2010. Meanwhile Allendale and Abbeville counties had no recorded bank or government foreclosed properties for the period January-June 2010.
