ILLINOIS FORECLOSURES DECREASE 16 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Down 2 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Illinois documented 5,755 foreclosure filings in June, a 16 percent decrease from the previous month, and a 2 percent decline from June 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in Illinois is down slightly for June — after spiking in April — and from the same month last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “But foreclosure activity could escalate again in Illinois as homeowners start feeling squeezed from the resetting of interest rates expected later in the year.”

 

Illinois documented the seventh highest foreclosure total in the nation for June, well behind top-rated California which led the nation with 38,801 foreclosure filings. Reporting 21,035 foreclosures filings, Florida was securely in second place, followed by third place Ohio with 11,879 foreclosure filings for the month. Michigan took fourth place, reporting 10,092 foreclosure filings. Texas came in fifth reporting 8,525 foreclosure filings, followed by sixth place Georgia with 7,191 foreclosure filings. The remaining states in the nation’s top 10 foreclosure totals include Arizona, Colorado and New Jersey.

 

Cook County leads the state in foreclosure total

Cook County far and away led all counties in foreclosure activity for June, reporting 3,087 foreclosure filings — 54 percent of the state total. Will County reported the second highest foreclosure total with 464 foreclosure filings. Du Page County tallied the third highest foreclosure total in the state with 355 foreclosure filings. Winnebago County reported the fourth highest foreclosure total, with 319 foreclosure filings. Lake County rounded out the state’s top five, reporting 292 filings in the foreclosure pipeline.

 

Kendall County posts highest foreclosure rate

Kendall County posted the highest foreclosure rate in the state for June, one foreclosure filing for every 275 households — 3.1 times the state average and 2.6 times the national average. Winnebago County posted the second highest foreclosure rate, one foreclosure filing for every 359 households — 2.4 times the state average and twice the national average. Vermilion County posted the third highest foreclosure rate, one foreclosure filing for every 367 households — 2.3 times the state average and 1.9 times the national average. Will County posted the fourth highest foreclosure rate, one foreclosure filing for every 378 households and Kane County came with the fifth highest rate, one foreclosure filing for every 531 households.

 

State makes significant contribution to national total

Total foreclosure filings in Illinois accounted for 3 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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 current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                           Illinois Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Illinois

0

86

656

4,219

794

5,755

849

0.83

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

1

2

3

9,795

0.07

0.09

Bond

0

0

0

1

0

1

6,690

0.11

0.13

Boone

0

0

1

16

7

24

642

1.10

1.32

Bureau

0

0

0

0

0

0

n/a

0.00

0.00

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Cass

0

0

0

0

0

0

n/a

0.00

0.00

Champaign

0

0

0

19

4

23

3,273

0.22

0.26

Christian

0

1

0

0

1

2

7,496

0.09

0.11

Clark

0

0

0

1

0

1

7,816

0.09

0.11

Clinton

0

0

0

3

0

3

4,602

0.15

0.18

Coles

0

0

0

5

6

11

2,070

0.34

0.41

Cook

0

33

424

2,287

343

3,087

679

1.04

1.25

De Kalb

0

1

1

33

2

37

892

0.79

0.95

Dewitt

0

0

0

0

0

0

n/a

0.00

0.00

Douglas

0

0

0

1

0

1

8,005

0.09

0.11

Du Page

0

2

38

295

20

355

945

0.74

0.90

Edgar

0

0

1

0

0

1

8,611

0.08

0.10

Effingham

0

0

1

0

0

1

13,959

0.05

0.06

Ford

0

0

0

0

1

1

6,060

0.12

0.14

Franklin

0

0

0

0

1

1

18,105

0.04

0.05

Fulton

0

0

0

1

0

1

16,240

0.04

0.05

Grundy

0

0

1

5

0

6

2,507

0.28

0.34

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

1

0

0

1

2

10,635

0.07

0.08

Iroquois

0

0

1

0

1

2

6,681

0.11

0.13

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Jersey

0

0

0

0

0

0

n/a

0.00

0.00

Jo Daviess

0

0

0

0

1

1

12,003

0.06

0.07

Johnson

0

0

0

0

1

1

5,046

0.14

0.17

Kane

0

8

16

220

18

262

531

1.33

1.60

Kankakee

0

1

4

29

13

47

864

0.81

0.98

Kendall

0

2

4

60

5

71

275

2.56

3.09

Knox

0

1

0

2

2

5

4,743

0.15

0.18

La Salle

0

0

1

2

1

4

11,610

0.06

0.07

Lake

0

8

32

231

21

292

774

0.91

1.10

Lee

0

0

2

0

0

2

7,155

0.10

0.12

Livingston

0

0

0

0

0

0

n/a

0.00

0.00

Logan

0

0

0

0

2

2

5,936

0.12

0.14

Macon

0

0

1

15

4

20

2,512

0.28

0.34

Macoupin

0

0

1

1

0

2

10,549

0.07

0.08

Madison

0

2

4

104

91

201

542

1.30

1.57

Marion

0

0

1

3

0

4

4,506

0.16

0.19

Marshall

0

0

0

1

0

1

5,914

0.12

0.14

Mason

0

0

0

1

0

1

7,033

0.10

0.12

Massac

0

0

1

0

1

2

3,476

0.20

0.24

McHenry

0

3

11

134

23

171

543

1.30

1.56

Mclean

0

1

1

20

12

34

1,764

0.40

0.48

Menard

0

0

0

0

0

0

n/a

0.00

0.00

Monroe

0

0

0

2

0

2

5,375

0.13

0.16

Montgomery

0

0

1

1

0

2

6,263

0.11

0.14

Morgan

0

0

0

0

1

1

15,291

0.05

0.06

Ogle

0

0

1

0

0

1

20,420

0.03

0.04

Peoria

0

1

3

18

14

36

2,172

0.32

0.39

Piatt

0

0

1

0

0

1

6,798

0.10

0.12

Pike

0

0

0

0

1

1

8,011

0.09

0.11

Putnam

0

0

0

0

0

0

n/a

0.00

0.00

Randolph

0

0

0

6

2

8

1,666

0.42

0.51

Richland

0

0

0

0

1

1

7,468

0.09

0.11

Rock Island

0

3

2

6

9

20

3,224

0.22

0.26

Saint Clair

0

0

9

29

9

47

2,222

0.32

0.38

Sangamon

0

1

4

3

2

10

8,546

0.08

0.10

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Shelby

0

0

0

0

0

0

n/a

0.00

0.00

Stark

0

0

0

0

0

0

n/a

0.00

0.00

Stephenson

0

1

0

1

1

3

7,238

0.10

0.12

Tazewell

0

2

2

25

11

40

1,324

0.53

0.64

Vermilion

0

1

4

75

19

99

367

1.92

2.31

Whiteside

0

0

1

0

0

1

25,025

0.03

0.03

Will

0

3

43

319

99

464

378

1.86

2.24

Williamson

0

0

2

9

2

13

2,131

0.33

0.40

Winnebago

0

10

36

234

39

319

359

1.96

2.37

Woodford

0

0

0

0

0

0

n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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