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 ATTOM, a leading curator of land, property, and real estate data, today released its July 2024 U.S. Foreclosure Market Report, which shows there were a total of 31,929 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 15 percent from a month ago and up slightly by .2 percent from a year ago. 

“July’s foreclosure activity reflects a slight shift in the housing market,” said Rob Barber, CEO at ATTOM. “With an 18 percent increase in foreclosure starts and a 14 percent rise in completed foreclosures from last month, these shifts may highlight growing pressures in certain areas.  However soaring home prices seem to continue and have spiked the value of homes across the nation, which boosts equity for homeowners at virtually every stage of paying off mortgages. Monitoring these next few months will help us better understand the implications for the real estate sector.”

Delaware, Nevada, and Utah post highest foreclosure rates

Nationwide, one in every 4,414 housing units had a foreclosure filing in July 2024. States with the highest foreclosure rates were Delaware (one in every 2,214 housing units with a foreclosure filing); Nevada (one in every 2,245 housing units); Utah (one in every 2,289 housing units); New Jersey (one in every 2,607 housing units); and Illinois (one in every 2,660 housing units).

Among the 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in July 2024 were Provo–Orem, UT (one in every 940 housing units with a foreclosure filing); Macon, GA (one in every 1,167 housing units); Columbia, SC (one in every 1,587 housing units); Spartanburg, SC (one in every 1,895 housing units); and Atlantic City–Hammonton, NJ (one in every 1,910 housing units).

Those metropolitan areas with a population greater than 1 million with the worst foreclosure rates in July 20244 were: Las Vegas, NV (one in every 2,089 housing units); Philadelphia, PA (one in every 2,197 housing units); Jacksonville, FL (one in every 2,274 housing units); Chicago, IL (one in every 2,279 housing units); and Riverside, CA (one in every 2,556 housing units).

Greatest numbers of foreclosure starts in California, Florida, and Texas

Lenders started the foreclosure process on 21,870 U.S. properties in July 2024, up 18 percent from last month and up 4 percent from a year ago.

States that had the greatest number of foreclosure starts in July 2024 included: California (2,342 foreclosure starts); Florida (2,339 foreclosure starts); Texas (2,222 foreclosure starts); Illinois (1,221 foreclosure starts); and New York (1,145 foreclosure starts).

Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in July 2024 included: New York, NY (1,286 foreclosure starts); Chicago, IL (1,555 foreclosure starts); Philadelphia, PA (782 foreclosure starts); Miami, FL (758 foreclosure starts); and Los Angeles, CA (689 foreclosure starts).

Foreclosure completion numbers increase from last month

Lenders repossessed 3,282 U.S. properties through completed foreclosures (REOs) in July 2024, up 14 percent from last month and down 2 percent from last year.

States that had the greatest number of REOs in July 2024, included: New York (377 REOs); California (370 REOs); Illinois (221 REOs); Pennsylvania (219 REOs); and Michigan (212 REOs).

Those major metropolitan statistical areas (MSAs) with a population greater than 1 million that saw the greatest number of REOs in July 2024 included: New York, NY (271 REOs); Chicago, IL (136 REOs); San Francisco, CA (104 REOs); Detroit, MI (100 REOs); and Los Angeles (97 REOs).

Report methodology

The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.

CareSource, a nonprofit, managed care organization serving 440,000 Georgians, today announced Dr. Minh Nguyen as the chief medical officer (CMO) for CareSource Georgia. Dr. Nguyen is responsible for overseeing CareSource Georgia’s clinical strategy, population health, health equity and the quality of health care services, and work to improve health outcomes for patients through collaboration with providers and community-based organizations. 

“Dr. Nguyen has been an instrumental part of our Georgia leadership team, and his expertise and passion for improving the health and well-being of our members make him exceptionally well-suited to lead our clinical operations,” said Jason Bearden, market president for CareSource Georgia. “He will continue to further our goal of expanding access to care in addition to developing and leading initiatives that not only meet quality and safety objectives but improve health outcomes for Georgians.”  

Dr. Nguyen most recently served as market medical officer for CareSource Georgia where he led and supported all quality, population health and clinical initiatives to manage and improve health outcomes for members. He also serves on the CareSource Health Equity Advocacy Team (HEAT) to help ensure health equity activities and standards are embedded into organizational policies and procedures.  

“As a physician, I believe that health care is about more than treating physical illness. It’s about caring for the whole health of individuals and the communities where they live,” said Nguyen. “I am proud to be part of an organization that is committed to addressing social determinants of health and to advancing health equity across our state. As chief medical officer, I will work with our team and community partners to continue to find innovative ways to close gaps in care and improve quality of care and health outcomes.” 

Prior to joining CareSource, Dr. Nguyen served in various leadership and clinical roles at Harvard Faculty Physician and WellStar. Dr. Nguyen is a graduate of the University of California San Diego and the Ross University School of Medicine. He completed his family medicine residency at the University of Massachusetts Medical School.  

Today, Sorbet, a fintech solution that helps employees access the cash value of their unused paid time off (PTO) as they accrue it, released its PTO Report 2024, the first post-pandemic assessment of PTO. The report sheds light on the ongoing PTO crisis in America, impacting both employees and employers – uncovering PTO trends, issues, and YOY shifts in PTO policies across industries, states, gender, age and more.

The comprehensive survey found that nearly two-thirds (62%) of Americans don’t use all of their PTO. This is climbing at an alarming rate – shy of doubling from just 4 years ago. 5.5% of American workers did not take any PTO in 2023.

The increase in unused PTO – up 14.7% since 2017 – presents a significant challenge for employees and employers alike. Employees begin to accumulate an asset that they typically can’t access unless they separate from their current employer. For employers, PTO represents one of the most expensive, unutilized and underappreciated employee benefits, with the lowest perceived ROI – while their employees grow increasingly frustrated and disgruntled by financial pressure and burnout. But despite buzz around unlimited PTO policies, the policy has only been adopted by less than 15% of American companies – in fact, more than half of companies still offer traditional PTO policies by which unused PTO accrues, carries over and gets paid out at termination.

The data reveals a concerning glimpse into American work culture — modern, younger and remote workers aren’t taking vacation days. ⅓ of American employees (32%) say it’s difficult to take time off when working from home.  Gen Z employees are 15% more likely to say it’s difficult to take time off – therefore, employees between ages 21-34 take about one week less vacation time than employees over 55.

The report also revealed inequalities in employee workplace benefits, especially across gender, industry and region. Women take 10% less PTO than men, and are more comfortable taking sick days than vacation days. As far as industry, employees in the finance space take the most advantage of their time off, using 78% of their allocated time. Minnesotans seem to utilize the most PTO — allotting an average of 18 vacation days — and Minnesota is also the #1 State for employee PTO utilization (14 days used).

“Unused PTO is worth actual money and can be used as an additional source of compensation,” says Veetahl Eilat-Raichel, co-founder + CEO of Sorbet. “PTO can also be used as a cash benefit to reduce financial stress. Employers need supportive PTO benefits in the workplace which offer employees choice and flexibility – including the ability to advance unused PTO days.”

Selected as one of the 20 most promising startups in 2021, Sorbet’s app allows employees to unlock the value of their unused PTO days through a cash advance, allowing them to access money that they never even knew existed – while offering employers the ability to provide their employees an impactful financial benefit – risk and cost free.

For a more in-depth look at the survey findings, please visit https://www.getsorbet.com/.

Hartsfield-Jackson Atlanta International Airport (ATL) is the best airport for business travel in the U.S., scoring 7.98 out of 10. With 237 direct routes, over 43% offering business class, it excels in connectivity. There are 40 hotels within two miles, ideal for travelers with late arrivals or early departures. Just an 18-minute drive from downtown Atlanta, it ensures easy access to meetings. The airport features over 100 shops and numerous restaurants, offering diverse cuisine from reuben sandwiches to sushi.

Los Angeles International Airport (LAX) has the second-highest business travel score at 6.90 out of 10. The airport features 22 lounges and 30 hotels within two miles, catering to one of the busiest cities in the U.S. LAX offers 189 direct routes, with over half providing business class. Travelers can enjoy a variety of shops, restaurants, and a unique farmers market with fresh produce and food stands.

Miami International Airport (MIA) shares the second-best business travel score of 6.90. It offers 22 lounges and 189 direct routes, over half with business class. Miami’s role as a hub for technology, creative industries, and international trade, especially with the Caribbean and South America, makes it a key business destination. The airport’s Shoppes at Ocean Drive in Terminal D provides a top-tier shopping experience, while travelers can also enjoy spas, a yoga room, and a chapel for relaxation.

The research also revealed:

• The U.S. airport with the most lounges is John F. Kennedy International Airport (JFK), with 27 total. JFK is the main airport serving New York City, operating direct routes to 193 destinations, 67% of which allow for business class travel.

• Dubai International Airport (DXB) is the best international airport for business trips, earning a 9.73 out of 10. It is also one of the best-connected airports in the world, with 264 direct flight routes, 94.7% of which offer business class travel. 

The Best US Airports For Business Travel:

For the full report visit booking.com

The ATL Airport Chamber is thrilled to announce the success of its 3rd Annual “Stuff the Plane: School Supply Drive and Distribution,” held at the iconic Delta Flight Museum. The event, which took place on August 7, 2024, provided over 250 students from the Metro-Atlanta area with essential school supplies and an unforgettable experience. 

The “Stuff the Plane” initiative is more than just a school supply drive; it is a testament to the Chamber’s unwavering commitment to empowering youth and fostering educational success within the community. By equipping students with the tools they need for the upcoming school year, the Chamber aims to set the stage for academic achievement and personal growth.

“We are incredibly proud of this year’s event,” said Carmenlita Scott, CEO and President of The ATL Airport Chamber. “Seeing the joy on the faces of these students as they received their book bags and toured the Delta Flight Museum was truly heartwarming. It is events like these that underscore our dedication to making a tangible difference in the lives of young people.”

The event was made possible through the collaborative efforts of the Chamber’s exceptional leadership team, including Natasha Bowles, in partnership with the Delta leadership team and several government representatives. Special recognition is due to Representative Eric Bell II, who shared his wealth of knowledge on aviation careers with the students, leaving a lasting impact on their aspirations.

The ATL Airport Chamber extends its heartfelt thanks to everyone who donated, volunteered, and supported this initiative. Your contributions are helping to pave the way for a brighter future for the youth in our community.

As we celebrate the success of “Stuff the Plane,” we look forward to continuing our impactful work through future initiatives that support education and community empowerment.

For more information about The ATL Airport Chamber and upcoming events, please visit airportchamber.com or follow us on social media.

Contact Information

• Address: 600 S. Central Avenue, Suite 100, Atlanta, GA 30354

• Phone: (404) 209-0910

• Email: cscott@airportchamber.com 

• Website: airportchamber.com

Social Media

• Facebook: https://www.facebook.com/ATLAirportChamber

• LinkedIn: https://www.linkedin.com/company/atl-airport-chamber

• Twitter: https://x.com/airport_chamber

• Instagram: https://www.instagram.com/atlairportchamber?igsh=ZjVqNXhuaDRzZDB2

Hashtags: #StuffThePlane #SchoolSupplyDrive #ATLAirportChamber #DeltaFlightMuseum #CommunitySupport #EducationMatters #BackToSchool

Jamestown, a global, design-focused real estate investment and management firm with $11.7 billion in assets under management as of June 30, 2024, today announced it will acquire the Atlanta subsidiary of Cincinnati-based North American Properties (NAP), a family-owned real estate company founded by William J. Williams, Sr. in 1954. The Atlanta subsidiary, which has $2 billion in assets under management as of June 2024, is an owner/operator and real estate services provider of mixed-use properties in suburban, high-growth markets across the Eastern U.S. 

As part of the transaction, a Jamestown affiliate will make an investment in the platform’s portfolio comprised of Colony Square (Atlanta, Georgia), The Forum Peachtree Corners (Peachtree Corners, Georgia), Avenue East Cobb (Marietta, Georgia), Birkdale Village (Huntersville, North Carolina), Ridge Hill (Yonkers, New York), and Newport on the Levee (Newport, Kentucky).  

The acquisition also includes the platform’s real estate services business that manages Avalon (Alpharetta, Georgia), Mercato (Naples, Florida), and Riverton (Sayreville, New Jersey). These third-party services engagements will add to Jamestown’s growing real estate services business, which currently includes 22 projects across 19 cities and ten countries.

“Jamestown’s North Star is to create inspiring places that serve as the foundation of community life and reinforce a sense of place and belonging, while generating value for investors,” said Michael Phillips, President of Jamestown. “This acquisition will bolster our differential advantage in the market as a vertically integrated, mixed-use operator with a focus on placemaking. Their expertise around suburban placemaking is a great complement for our urban placemaking expertise, as well as our grocery-anchored shopping center business.”  

“Our goal is to be the best mixed-use investor and operator globally, focusing on creating innovation hubs and community centers,” said Matt Bronfman, CEO of Jamestown. “As part of the firm’s next chapter, Jamestown plans to continue to scale its vertically integrated platform and mixed-use expertise to more markets. This acquisition advances our goal and is a major step toward realizing our long-term vision for the future.” 

Upon closing, which is subject to customary closing conditions, pending approval from lenders and investors, and anticipated to occur by the fourth quarter of 2024, the Atlanta-based operating platform and its assets will move forward under the Jamestown name—as will its more than 200 employees. Tim Perry, who is currently the Managing Partner of NAP’s Atlanta subsidiary, will join Jamestown’s executive team as a Managing Director and Co-Chief Investment Officer.    

“Joining Jamestown represents an exciting new chapter,” said Tim Perry, Managing Partner of NAP’s Atlanta subsidiary. “We look forward to continuing to create dynamic, community-focused destinations and unlocking new value creation opportunities as part of Jamestown’s global platform.” 

Established in 1996, NAP’s Atlanta subsidiary has a long track record of creating vibrant, mixed-use destinations. Over the last decade, the subsidiary has scaled its hospitality-forward, vertically integrated operating platform and positioned itself as a boutique, full-service developer pursuing opportunistic returns. This has allowed the subsidiary to assemble a portfolio of underutilized lifestyle destinations and maximize their potential through value-add, experiential redevelopment projects. The platform’s portfolio size has grown substantially in the last four years under the leadership of Perry. 

Cincinnati-based North American Properties will continue to own and operate real estate through its other affiliates and manage investments across its wide-ranging venture portfolio. The company will also continue to be an investor in the platform’s six owned assets. 

“Since we founded the Atlanta office 28 years ago, the team has built a great platform for the communities and partners it serves,” said Tom Williams, CEO of North American Properties. “Finding a like-minded partner in Jamestown is a great outcome for our people, and we look forward to continuing to invest in real estate alongside them.”

A newly published research report jointly completed by Incisiv, Verizon and Ericsson found supply chain disruptions and labor challenges are driving distribution operations to manage throughput more efficiently to remain competitive. The release of the 2024 State of Smart Distribution Study: The Age of Efficiency and Resilience reveals how retail, manufacturing and logistics companies plan to improve operational efficiency and employee productivity by leveraging innovative technologies.

Key findings include:

• Companies seek higher throughput at a lower incremental cost: The majority (78%) of companies surveyed rate managing operational costs as a top investment driver. Companies report lower satisfaction with complex, labor-intensive operational processes like order fulfillment (67%), and shipping and material handling (both 66%), which represent potential areas for process improvement and automation.
  
  
• Managing the workforce is a top priority: 86% of companies cite labor shortages and workforce management as significant challenges. Key issues include recruiting skilled workers (85%), competitive compensation (75%) and employee turnover (70%).
  
  
• Proven technologies earn strong demand: 81% of companies have or plan to deploy mobile devices by 2026 to improve productivity. Companies also plan to invest in RFID or Internet of Things inventory tracking (49%), robotics for picking and packing (45%) and camera vision for quality control, packing and returns (37%). While 84% of companies say AI will be a necessity to compete in the future, only 10% have a common understanding of AI across the enterprise.
  
  
• Enabling new operating capabilities requires upgrading the network infrastructure: 65% of companies say their current network cannot support their needs for the next 24 months. Also, 61% of companies are dissatisfied with the reliability of their in-facility network or connectivity.

“These results show how distribution operations have shifted toward increasing productivity to satisfy online shoppers’ evolving needs,” said Gaurav Pant, Chief Insights Officer, Incisiv. “Companies that empower their people with proven technologies and invest in infrastructure upgrades will gain a competitive advantage.”

“Recognizing the imperative to optimize operational efficiency, distribution organizations are accelerating the transition to next-generation distribution centers,” said Michael Weller, Practice Leader, Manufacturing, Energy and Utilities, Verizon Business. “The adoption of bandwidth-intensive, innovative technologies requires a reliable and secure connection that works across the entire enterprise facility.”

“This joint study reveals that operations and IT executives are facing challenges like unforeseen demands, labor shortages, and supply chain issues,” said Sandra Cutrona, Vice President and Head of Business Development for Customer Unit Verizon, Ericsson North America. “At Ericsson, we believe that connectivity is crucial. Our customers benefit from our solutions. We offer seamless, speedy and secure communication that high-performing neutral host 5G private networks can provide.”

To learn more, download the full results of the report 2024 State of Smart Distribution Study: The Age of Efficiency and Resilience. 

Dinova Inc., the authority in business dining, anticipates a continued surge in corporate dining activity after a recent Global Business Travel Association (GBTA) announcement that overall business travel spend is expected to reach a record $1.48 trillion in 2024. Business travelers are projected to spend $245 billion on food and beverage, the second-largest travel expense category.

Meanwhile, consumer dining spend has plateaued. Technomic, the leader in foodservice insights, reported negative average YOY growth for full-service (-1.5%) and limited-service (-1%) restaurants. In the Vericast 2024 Restaurant TrendWatch Survey, 68% of respondents said they are opting for grocery store food over restaurant meals to avoid rising costs.

“The record growth in business travel and dining spend is welcome news for restaurants when consumer sales and attitudes look bleak,” said Dinova CEO Alison Quinn. “As consumer traffic and spending continue to dampen, the business travel and dining boom offers a new avenue for growth.”

The spike in corporate travel spend is the latest in a string of promising business dining trends:

• Corporate catering has become the largest source of revenue for catering companies, with spend projected to soar to $103 billion by 2027.

• Catering purchases (over $250) now comprise over a third of business dining transactions, according to Dinova’s corporate cardholder data and analysis in Dinova’s latest State of Business Dining Report).

• U.S. corporate travelers spend an average of $700 out-of-pocket per trip, with 63% of that money used towards dining.

• Large events and conferences, a major business dining and catering driver, are back in full force, reaching 90% of pre-pandemic levels in major markets.

“Business dining needs are diverse, from quick fast food stops to sophisticated client dinners, meeting catering, and culture building,” said Quinn. “Millions of employees in our corporate dining program turn to our restaurant partners for all these occasions.”

“Restaurants in the Dinova dining program can tap into a dedicated and consistent base of business diners and gain a significant revenue opportunity in the face of weakening consumer sales.”

Dinova is the business dining solution that delivers spend visibility and savings for companies while also driving growth for restaurants. Learn more at www.Dinova.com.

CloudZero, the globally trusted leader in proactive cloud cost efficiency, today released the findings of its research report, “How Cloud Efficient Are Software Companies In 2024?” From interviewing hundreds of cloud operations and finance professionals, the survey found that most SaaS companies lack maturity when it comes to cloud cost management (CCM). That lack of maturity leads to increased costs and reduced profit margins. The report is available for download here. Additionally, CloudZero is launching the first-of-its-kind cloud cost benchmarking tool to help SaaS companies understand how efficient they are compared to their peers.

Cloud spending is expected to hit $675 billion this year, according to Gartner, and increased AI adoption will drive spending even higher. Although organizations continue to ramp up cloud spending, they’re not getting more cloud efficient. What’s missing is a solid understanding of how those costs tie back to business outcomes.

Key findings from CloudZero’s report include:

• Most companies don’t proactively manage cloud costs — just 39% of companies have implemented formalized CCM programs.

• 73% of companies report that cloud service provider costs represent at least 20% of their total cost of goods sold (COGS), and 28% report cloud costs accounting for more than half of their COGS.

• For nine out of 10 companies, at least 10% of their costs can’t be traced to the correct sources.

A lack of formalized CCM programs also means companies aren’t making the most of the advanced, powerful CCM approaches now available — including complete or near-complete cost allocation (just 9% say they’re using this), cloud cost chargeback (under half), and software code optimization (just 28%).

Additionally, organizations have struggled to calculate overall cloud cost efficiency, complicated by a lack of an industry-wide benchmark for this measure. CloudZero’s new Cloud Efficiency Rate (CER) is the industry’s first unifying benchmark for cloud efficiency for SaaS businesses. This report shows that top-quartile CER is 92% — meaning that only $0.08 of every dollar of revenue goes to cloud service provider(s). The finding underscores the positive financial impact CCM can have.

Phil Pergola, CEO of CloudZero, said, “For SaaS companies, the cloud is typically a top-three budget line item — yet most don’t have rigorous processes for managing their cloud efficiency or understanding the relationship to their unit economics at any level of granularity. Without it, they’re leaving a substantial amount of gross profit on the table. By better understanding and managing their Cloud Efficiency Rate, cloud-native organizations can improve their profitability — impacting both the top and bottom line.”

Trevelino/Keller, a nationally ranked Growth PR+Mkt agency, announced today its partnership with RAFTR Roofing + Exteriors (RAFTRx), a top-rated roofing and outdoor exterior solutions provider specializing in the insurance-claim sector. Trevelino/Keller supports RAFTRx with growth marketing, PR, web development and creative services. 

Every day, RAFTRx and its portfolio of highly regarded, multi-regional brands are improving neighborhoods and communities through a network of trained, certified craftsmen living and working in the communities they serve. They bring home and commercial owners peace of mind by guiding them through the fractured insurance process while providing quality roofing construction, replacement and repairs. Their platform enables local brands to operate at scale by providing them with the means to source resources at a national level.

“There’s no shortage of roofing companies out there,” explains Gyner Ozgul, CEO at RAFTRx. “But there is a shortage of quality roofing experiences. Our solution accounts for quality craftsmanship and exceptional service to give customers a superior roofing experience. We’ve partnered with Trevelino/Keller to help bring consistency across our portfolio of brands and spread awareness of our best-in-class offerings.” 

As a company, Trevelino/Keller brings more than 20 years of brand reputation, media strategy, growth marketing and creative services to its partnership with RAFTRx. 

“RAFTRx is a quickly emerging brand with a big strategy to build a national organization from the local market up, all designed to address a fragmented market that struggles to serve the residential and commercial markets,” says Dean Trevelino, Co-CEO at Trevelino/Keller. “It’s a tremendous opportunity and responsibility to be able to leverage our breadth of integrated capabilities and experience in home and commercial.”