The Greenville area saw a decrease of 2 percent in foreclosure filings compared with the second quarter. However, foreclosures are up 10 percent compared to 2009. RealtyTrac is the source.
Compared to the rest of South Carolina, Greenville is ranked third highest in foreclosure filings behind Charleston and Myrtle Beach. Spartanburg ranked fourth in foreclosures.
NAHB reports that the Upstate of South Carolina has relatively low foreclosures, particularly compared to the rest of the country. As reported in the NAHB Fall Construction Forecast Conference, 23 percent of all foreclosures in the country are in Florida, and 77 percent of all foreclosures are in just 13 states, primarily concentrated in the Southwest and the “Rust Belt.”
In another report by GSA Business, 93 percent of their readers said they want to know if a home is in financial distress when buying a home. Most agreed that foreclosed homes require work and should sell for less than a home not in financial distress.