ILLINOIS FORECLOSURE ACTIVITY DOWN 11 PERCENT IN APRIL

Foreclosure Activity Up 54 Percent From April 2008; Fifth Highest Rate in Nation

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 13,647 Illinois properties in April, an 11 percent decrease from the previous month, but still 54 percent above the level reported for April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 384 Illinois housing units received a foreclosure filing during the month, the fifth highest state foreclosure rate in the nation.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 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 slowed down in April, but was still significantly up from a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “With its unemployment rate around 9 percent, and layoffs heavy in both manufacturing and construction, more foreclosures are likely in the coming months.”

 

Illinois came in fifth highest total for the month.  California tallied 96,560 properties with foreclosure filings. Second ranked Florida reported 64,588 properties with foreclosure filings. Nevada narrowly beat out Arizona for third highest total for the month, reporting 16,266 properties with foreclosure filings compared to Arizona’s 16,245 properties with foreclosure filings, the nation’s fourth highest total. Ohio, Georgia, Texas, Michigan and Virginia completed the nation’s top 10 for total properties with foreclosure filings in April.

 

Cook County accounted for more than half of state’s foreclosure activity in April

Cook County led the state, reporting 7,850 properties with foreclosure filings for the month. Will County reported 1,023 properties with foreclosure filings, the state’s second highest county total. Du Page County came in third highest, reporting 859 properties with foreclosure filings. Lake County came in fourth, documenting 742 properties with foreclosure filings, while the fifth highest total was in Kane County, where 682 properties with foreclosure filings were reported for the month.

 

Kendall County post state’s top foreclosure rate in April

Kendall County topped the list, with one in every 119 housing units receiving a foreclosure filing — 3.2 times the state average and 3.1 times the national average. Will County had the second highest foreclosure rate, with one in every 224 housing units receiving a foreclosure filing — 1.7 times the state average and 1.7 times the national average. Kane County documented the third highest foreclosure rate, where one in every 252 housing units received a foreclosure filing during the month — 1.5 times the state average and 1.5 times the national average.

 

State the fifth largest contributor to nation’s foreclosure total in April

Illinois accounted for 4 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

          Illinois Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Illinois

0

6,407

0

3,942

3,298

13,647

384

-11.37

54.40

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

3

0

3

10,107

0.00

 n/a

Alexander

0

1

0

2

0

3

1,540

200.00

 n/a

Bond

0

2

0

4

0

6

1,195

0.00

500.00

Boone

0

0

0

36

19

55

339

-39.56

3.77

Brown

0

0

0

0

0

0

 n/a

 n/a

 n/a

Bureau

0

3

0

9

0

12

1,298

71.43

1100.00

Calhoun

0

1

0

1

0

2

1,410

100.00

 

Carroll

0

1

0

0

0

1

8,304

-66.67

0.00

Cass

0

3

0

1

0

4

1,489

-20.00

 n/a

Champaign

0

12

0

17

18

47

1,786

6.82

-17.54

Christian

0

5

0

3

0

8

1,923

166.67

300.00

Clark

0

0

0

0

0

0

 n/a

 n/a

 n/a

Clay

0

0

0

0

0

0

 n/a

 n/a

 n/a

Clinton

0

2

0

2

1

5

3,007

-64.29

0.00

Coles

0

4

0

10

2

16

1,460

-5.88

60.00

Cook

0

4,022

0

2,041

1,787

7,850

277

1.76

49.13

Crawford

0

0

0

1

0

1

8,956

-66.67

 n/a

Cumberland

0

0

0

0

0

0

 n/a

 n/a

 n/a

De Kalb

0

41

0

25

35

101

383

-15.13

102.00

Dewitt

0

0

0

0

0

0

 n/a

-100.00

 n/a

Douglas

0

0

0

2

1

3

2,772

200.00

 n/a

Du Page

0

287

0

344

228

859

418

-24.45

76.02

Edgar

0

1

0

0

0

1

8,811

-83.33

 n/a

Edwards

0

0

0

0

0

0

 n/a

 n/a

 n/a

Effingham

0

3

0

2

0

5

2,914

150.00

 n/a

Fayette

0

3

0

1

0

4

2,323

300.00

 n/a

Ford

0

0

0

0

0

0

 n/a

-100.00

 n/a

Franklin

0

5

0

11

0

16

1,150

60.00

433.33

Fulton

0

2

0

6

0

8

2,060

-33.33

 n/a

Gallatin

0

0

0

0

0

0

 n/a

-100.00

 n/a

Greene

0

1

0

3

0

4

1,629

0.00

300.00

Grundy

0

1

0

4

0

5

3,671

-16.67

66.67

Hamilton

0

1

0

0

0

1

4,078

 n/a

 n/a

Hancock

0

0

0

2

0

2

4,601

0.00

 n/a

Hardin

0

0

0

0

0

0

 n/a

 n/a

 n/a

Henderson

0

0

0

0

0

0

 n/a

-100.00

 n/a

Henry

0

3

0

7

0

10

2,172

-41.18

900.00

Iroquois

0

0

0

0

1

1

13,642

0.00

0.00

Jackson

0

1

0

2

0

3

9,450

-25.00

200.00

Jasper

0

0

0

0

0

0

 n/a

-100.00

 n/a

Jefferson

0

7

0

2

5

14

1,252

-30.00

600.00

Jersey

0

1

0

4

0

5

1,959

-16.67

 n/a

Jo Daviess

0

3

0

5

0

8

1,644

166.67

 n/a

Johnson

0

0

0

2

0

2

2,631

-33.33

 n/a

Kane

0

295

0

260

127

682

252

-25.79

66.34

Kankakee

0

0

0

4

33

37

1,193

32.14

-58.89

Kendall

0

89

0

164

27

280

119

16.18

344.44

Knox

0

0

0

13

4

17

1,411

-85.22

 n/a

La Salle

0

80

0

12

8

100

492

122.22

1011.11

Lake

0

301

0

206

235

742

340

-30.13

42.15

Lawrence

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lee

0

1

0

9

1

11

1,344

22.22

-52.17

Livingston

0

0

0

1

0

1

15,663

-75.00

0.00

Logan

0

1

0

2

0

3

4,010

-62.50

0.00

Macon

0

27

0

30

18

75

694

82.93

120.59

Macoupin

0

5

0

13

0

18

1,228

28.57

1700.00

Madison

0

108

0

0

90

198

592

-8.33

48.87

Marion

0

2

0

0

0

2

9,204

 n/a

100.00

Marshall

0

0

0

3

0

3

2,048

0.00

 n/a

Mason

0

1

0

0

1

2

3,548

100.00

 n/a

Massac

0

1

0

2

0

3

2,393

-25.00

 n/a

McDonough

0

2

0

0

0

2

7,151

-33.33

0.00

McHenry

0

139

0

145

104

388

295

-26.10

73.99

Mclean

0

38

0

0

14

52

1,306

-66.45

-26.76

Menard

0

1

0

1

0

2

2,841

-80.00

100.00

Mercer

0

0

0

2

0

2

3,659

-71.43

0.00

Monroe

0

9

0

1

2

12

1,066

-7.69

140.00

Montgomery

0

5

0

0

0

5

2,536

-16.67

400.00

Morgan

0

4

0

1

6

11

1,423

-15.38

 n/a

Moultrie

0

2

0

2

0

4

1,511

33.33

 n/a

Ogle

0

15

0

3

9

27

815

-46.00

200.00

Peoria

0

30

0

8

14

52

1,582

-34.18

-59.38

Perry

0

0

0

0

0

0

 n/a

-100.00

 n/a

Piatt

0

0

0

0

0

0

 n/a

-100.00

 n/a

Pike

0

0

0

0

0

0

 n/a

-100.00

 n/a

Pope

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pulaski

0

0

0

0

0

0

 n/a

-100.00

 n/a

Putnam

0

2

0

0

0

2

1,564

-60.00

 n/a

Randolph

0

3

0

2

4

9

1,522

50.00

28.57

Richland

0

0

0

0

0

0

 n/a

-100.00

 n/a

Rock Island

0

23

0

15

19

57

1,149

-87.97

-12.31

Saint Clair

0

131

0

1

44

176

651

-22.81

7.32

Saline

0

1

0

5

0

6

2,131

50.00

 

Sangamon

0

20

0

1

26

47

1,925

-53.92

-58.77

Schuyler

0

0

0

0

0

0

 n/a

 n/a

 n/a

Scott

0

1

0

0

0

1

2,544

 n/a

 n/a

Shelby

0

0

0

0

0

0

 n/a

 n/a

 n/a

Stark

0

0

0

4

0

4

702

 n/a

 n/a

Stephenson

0

0

0

4

1

5

4,436

-58.33

 n/a

Tazewell

0

45

0

0

4

49

1,152

-10.91

-5.77

Union

0

1

0

0

0

1

8,117

0.00

 n/a

Vermilion

0

15

0

21

31

67

548

34.00

116.13

Wabash

0

1

0

0

0

1

5,868

-66.67

 n/a

Warren

0

0

0

3

1

4

1,967

100.00

 n/a

Washington

0

0

0

0

1

1

6,723

-66.67

 n/a

Wayne

0

0

0

0

0

0

 n/a

-100.00

 n/a

White

0

0

0

1

0

1

7,607

0.00

 n/a

Whiteside

0

3

0

14

0

17

1,505

70.00

1600.00

Will

0

393

0

324

306

1,023

224

-15.31

111.36

Williamson

0

23

0

8

0

31

955

-29.55

10.71

Winnebago

0

156

0

105

71

332

376

1.22

53.00

Woodford

0

17

0

0

0

17

877

466.67

 n/a

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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