July Residential Foreclosure Analysis
Foreclosures were up slightly in July 2009 with 552 total compared to 543 in June.
The area with the highest incidences was Raleigh-38128 up 29% from June with a total of 52 foreclosures in July and an average tax appraisal value of $80,517.
The total number of foreclosure notices issued in Shelby County was fairly consistent with June seeing only a 1% increase, Frayser being issued the most notices (102).
The ZIP Codes with the highest inventory of foreclosed properties include: Frayser (38127), Westwood (38109), Raleigh (38128) and West Person/Elvis Presley (38106) with a combined total of 1,561 properties valued at over $89 million.
Fannie Mae had the most foreclosure inventory at the close of July with 383 properties valued at almost $40 million.
Read the latest article on foreclosures from The Daily News.