ILLINOIS FORECLOSURE ACTIVITY UP 13 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Decreases 10 Percent From a August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Illinois documented 6,221 foreclosure filings in August, a up 13 percent from the previous month, and a 10 percent decrease from August 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.

 

“The number of Illinois homeowners in some stage of foreclosure rose in August, but was down from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The shakeout of borrowers with adjustable subprime mortgages continues to sweep the state, although the bulk of the foreclosure filings last month were in the Chicago area.”

 

The Prairie State documented the ninth highest foreclosure total in the nation for August. The state’s foreclosure rate of one foreclosure filing for every 827 households ranked it 16th among the 50 states.

 

Total foreclosure filings in Illinois were well behind the 57,875 filings tallied by national leader California, and far behind second ranked Florida with 33,932 foreclosure filings for the month. Ohio came in third highest with a total of 17,793 foreclosure filings. Texas reported the nation’s fourth highest total with 16,970 foreclosure filings entering some stage of the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in August were Michigan, Georgia, Arizona, Colorado and Nevada.

 

Cook County leads the state in foreclosure total

Cook County led all the state in foreclosure activity for August, reporting 3,499 foreclosure filings — 56 percent of the state total. Will County reported the second highest total with 381 foreclosure filings. Du Page County came in third with 380 foreclosure filings for the month. Kane County reported the fourth highest total with 379 foreclosure filings. Lake County rounded out the state’s top five reporting 366 filings entering some stage of the foreclosure pipeline in August.

 

Kane County posts highest foreclosure rate

Kane County posted the highest foreclosure rate in the state for August, one foreclosure filing for every 432 households — 1.9 times the state average and 1.2 times the national average. McHenry County posted the second highest rate, one foreclosure filing for every 502 households — 1.7 times the state average and on par with the national average. Will County posted the third highest rate, one foreclosure filing for every 568 households — 1.5 times the state average. Winnebago County posted the fourth highest foreclosure rate, one foreclosure filing for every 582 households and Kankakee County came in fifth at a rate of one foreclosure filing for every 604 households.

 

State makes significant contribution to national total

Total foreclosure filings in Illinois accounted for 3 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Illinois

0

118

595

4,677

831

6,221

827

0.62

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

1

0

1

30,190

0.02

0.03

Bond

0

0

1

0

0

1

7,035

0.07

0.12

Boone

0

1

2

6

1

10

1,776

0.29

0.47

Cass

0

0

0

0

0

0

n/a 

0.00

0.00

Champaign

0

1

0

22

10

33

2,441

0.21

0.34

Christian

0

0

0

0

1

1

15,341

0.03

0.05

Clark

0

0

1

0

0

1

8,061

0.06

0.10

Clinton

0

1

0

4

0

5

2,933

0.17

0.28

Coles

0

0

0

10

3

13

1,793

0.28

0.46

Cook

0

56

379

2,541

523

3,499

613

0.83

1.35

Crawford

0

0

1

1

0

2

4,490

0.11

0.18

De Kalb

0

1

5

34

5

45

810

0.63

1.02

Dewitt

0

0

0

0

0

0

n/a 

0.00

0.00

Douglas

0

0

0

0

0

0

n/a 

0.00

0.00

Du Page

0

7

31

327

15

380

929

0.55

0.89

Edgar

0

1

0

0

0

1

8,825

0.06

0.09

Effingham

0

0

0

0

0

0

n/a 

0.00

0.00

Ford

0

1

0

1

2

4

1,549

0.33

0.53

Franklin

0

0

0

0

2

2

9,213

0.06

0.09

Fulton

0

0

1

1

0

2

8,200

0.06

0.10

Grundy

0

0

1

1

0

2

8,685

0.06

0.10

Hancock

0

0

0

0

0

0

n/a 

0.00

0.00

Hardin

0

0

0

0

0

0

n/a 

0.00

0.00

Henry

0

1

0

1

2

4

5,400

0.09

0.15

Iroquois

0

0

0

0

0

0

n/a 

0.00

0.00

Jackson

0

0

0

0

1

1

27,817

0.02

0.03

Jefferson

0

0

0

1

0

1

17,535

0.03

0.05

Jersey

0

0

0

0

0

0

n/a 

0.00

0.00

Jo Daviess

0

0

0

0

2

2

6,428

0.08

0.13

Kane

0

4

24

321

30

379

432

1.18

1.92

Kankakee

0

1

2

51

17

71

604

0.84

1.37

Kendall

0

0

2

38

1

41

687

0.74

1.20

Knox

0

0

0

0

2

2

11,988

0.04

0.07

La Salle

0

2

0

0

0

2

24,273

0.02

0.03

Lake

0

5

45

260

56

366

674

0.76

1.23

Lawrence

0

0

1

0

0

1

7,181

0.07

0.12

Lee

0

0

2

1

0

3

4,889

0.10

0.17

Livingston

0

1

1

0

0

2

7,786

0.07

0.11

Logan

0

0

0

0

0

0

n/a 

0.00

0.00

Macon

0

2

7

31

5

45

1,147

0.44

0.72

Macoupin

0

0

0

2

0

2

10,983

0.05

0.08

Madison

0

4

4

54

36

98

1,175

0.43

0.70

Marion

0

0

0

0

2

2

9,221

0.06

0.09

Marshall

0

0

0

0

0

0

n/a 

0.00

0.00

Mason

0

0

0

1

0

1

7,102

0.07

0.12

Massac

0

0

0

0

1

1

7,121

0.07

0.12

Mchenry

0

2

9

178

29

218

502

1.02

1.65

Mclean

0

1

1

20

9

31

2,146

0.24

0.39

Menard

0

0

0

0

0

0

n/a 

0.00

0.00

Monroe

0

0

0

0

0

0

n/a 

0.00

0.00

Montgomery

0

0

0

0

0

0

n/a 

0.00

0.00

Morgan

0

0

0

0

1

1

15,622

0.03

0.05

Moultrie

0

0

1

1

0

2

2,971

0.17

0.28

Ogle

0

1

0

0

0

1

21,557

0.02

0.04

Peoria

0

2

2

40

5

49

1,656

0.31

0.50

Perry

0

0

1

0

0

1

9,782

0.05

0.08

Piatt

0

0

0

0

0

0

n/a 

0.00

0.00

Pike

0

0

0

0

1

1

8,181

0.06

0.10

Randolph

0

0

0

14

4

18

755

0.68

1.10

Richland

0

0

0

0

0

0

n/a 

0.00

0.00

Rock Island

0

2

2

3

0

7

9,291

0.05

0.09

Saint Clair

0

4

7

136

13

160

697

0.73

1.19

Saline

0

1

0

1

0

2

6,419

0.08

0.13

Sangamon

0

2

4

0

4

10

8,933

0.06

0.09

Schuyler

0

0

0

0

0

0

n/a 

0.00

0.00

Scott

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

0

0

0

0

0

n/a 

0.00

0.00

Tazewell

0

0

1

21

13

35

1,581

0.32

0.52

Vermilion

0

0

1

43

14

58

635

0.80

1.30

Warren

0

0

0

0

0

0

n/a 

0.00

0.00

Washington

0

0

0

0

0

0

n/a 

0.00

0.00

Whiteside

0

1

0

0

0

1

25,464

0.02

0.03

Will

0

7

41

325

8

381

568

0.90

1.46

Williamson

0

0

0

10

0

10

2,912

0.18

0.28

Winnebago

0

6

15

175

13

209

582

0.88

1.42

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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