US website realtytrac.com, a provider of national foreclosure data, has been accused of undercounting the number of properties scheduled for auction in Atlanta, Georgia.
As inman.com reports, the Atlanta Journal-Constitution newspaper counted 7,462 foreclosure properties scheduled for auction during April 2009 after reviewing legal notices for five metropolitan Atlanta counties. The Atlanta Journal-Constitution said realtytrac.com listed 3,746 properties that were subjected to foreclosure sale notices that month.
Rick Sharga, realtytrac.com's vice president of marketing, told inman.com:
“People almost view us as a government entity right now, and when we miss a (property) record here and there, they get angry with us. Every time an issue's been raised, we do as good a job as possible perfecting what by nature is very imperfect data, and the complaints are fewer and fewer as time goes by. We stand by the numbers."
Sharga told inman.com that the discrepancy between realtytrac.com's numbers for April and those of the Atlanta Journal-Constitution was due to the fact that auctions of foreclosure properties are often postponed. “Our monthly reports are based on new activity, and we would be grossly and severely exaggerating the problem if we were reporting every time a lender rescheduled an auction”, Sharga said.
The Atlanta Journal-Constitution quotes one foreclosure expert as describing the foreclosure statistics situation in the US as “a mess”.