ILLINOIS FORECLOSURES DECREASE 15 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 36 Percent From a Year Ago; Foreclosure Rate Ranks No. 10 in Nation

 

IRVINE, Calif. – Dec. 19, 2007 – Illinois documented 8,238 foreclosure filings in November, a nearly 15 percent decrease from the previous month, but still up 36 percent from November 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 decreased by double digits in November,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, foreclosure filings could escalate this coming spring as adjustable rate mortgage loans reset to much higher interest rates. That could further flood the Illinois housing market with foreclosure homes.”

 

Illinois documented the seventh highest foreclosure total in the nation for November. The state’s foreclosure rate of one foreclosure filing for every 624 households ranked 10th highest among the 50 states.

 

Cook County leads the state in foreclosure total

Cook County far and away led all counties in foreclosure activity for November, reporting 4,678 foreclosure filings — more than 56 percent of the state total. Will County reported the second highest foreclosure total, with 634 foreclosure filings. Lake County tallied the third highest foreclosure total in the state, with 396 foreclosure filings. Du Page County reported the fourth highest foreclosure total, with 393 foreclosure filings. Kane County rounded out the state’s top five, reporting 300 filings in the foreclosure pipeline for November.

 

Will County posts highest foreclosure rate

Will County posted the highest foreclosure rate in the state for November, with one foreclosure filing for every 341 households — 1.8 times the state average. Sangamon County posted the second highest foreclosure rate, one foreclosure filing for every 402 households — 1.6 times the state average and 1.5 times the national average. Kankakee County posted the third highest foreclosure rate, one foreclosure filing for every 405 households — 1.5 times the state average. La Salle County posted the fourth highest foreclosure rate, one foreclosure filing for every 449 households — 1.4 times the state average.

 

State makes minor contribution to national total

Total foreclosure filings in Illinois accounted for 4 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represented a 10 percent decrease from the previous month, but was still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Illinois

0

29

872

6,018

1,319

8,238

624

0.98

n/a

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Alexander

0

0

0

0

0

0

n/a

0.00

0.00

Bond

0

0

0

0

0

0

n/a

0.00

0.00

Boone

0

0

0

4

1

5

3,552

0.17

0.18

Brown

0

0

0

0

0

0

n/a

0.00

0.00

Bureau

0

0

0

1

0

1

15,525

0.04

0.04

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Carroll

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

49

4

53

1,520

0.41

0.41

Christian

0

0

1

0

0

1

15,341

0.04

0.04

Clark

0

1

0

0

0

1

8,061

0.08

0.08

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Clinton

0

0

0

1

0

1

14,666

0.04

0.04

Coles

0

0

0

13

8

21

1,110

0.56

0.56

Cook

0

15

618

3,409

636

4,678

458

1.35

1.36

Crawford

0

0

0

0

0

0

n/a

0.00

0.00

Cumberland

0

0

0

0

0

0

n/a

0.00

0.00

De Kalb

0

0

6

41

8

55

662

0.93

0.94

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

1

55

299

38

393

899

0.69

0.70

Edgar

0

0

0

0

0

0

n/a

0.00

0.00

Edwards

0

0

0

0

0

0

n/a

0.00

0.00

Effingham

0

0

0

0

0

0

n/a

0.00

0.00

Fayette

0

0

0

1

0

1

9,324

0.07

0.07

Ford

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

1

1

18,425

0.03

0.03

Fulton

0

0

0

1

0

1

16,399

0.04

0.04

Gallatin

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Grundy

0

0

1

1

1

3

5,790

0.11

0.11

Hamilton

0

0

0

0

0

0

n/a

0.00

0.00

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

Henderson

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

0

0

0

1

1

21,599

0.03

0.03

Iroquois

0

0

0

0

1

1

13,580

0.05

0.05

Jackson

0

0

0

1

0

1

27,817

0.02

0.02

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Jersey

0

0

0

0

1

1

9,490

0.06

0.07

Jo Daviess

0

0

0

0

0

0

n/a

0.00

0.00

Johnson

0

0

0

0

0

0

n/a

0.00

0.00

Kane

0

0

30

216

54

300

545

1.13

1.15

Kankakee

0

0

4

87

15

106

405

1.52

1.54

Kendall

0

1

10

31

6

48

586

1.05

1.06

Knox

0

0

1

0

2

3

7,992

0.08

0.08

La Salle

0

1

1

85

21

108

449

1.37

1.39

Lake

0

0

48

263

85

396

623

0.99

1.00

Lawrence

0

1

0

0

0

1

7,181

0.09

0.09

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Livingston

0

0

0

0

0

0

n/a

0.00

0.00

Logan

0

0

0

1

1

2

6,006

0.10

0.10

Macon

0

0

4

50

27

81

637

0.97

0.98

Macoupin

0

0

1

1

1

3

7,322

0.08

0.09

Madison

0

0

7

71

33

111

1,038

0.59

0.60

Marion

0

0

1

0

1

2

9,221

0.07

0.07

Marshall

0

0

0

0

0

0

n/a

0.00

0.00

Mason

0

0

0

0

0

0

n/a

0.00

0.00

Massac

0

0

1

0

1

2

3,561

0.17

0.18

McDonough

0

0

0

0

0

0

n/a

0.00

0.00

McHenry

0

0

13

148

17

178

615

1.00

1.02

Mclean

0

1

0

104

15

120

554

1.11

1.13

Menard

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

0

1

0

1

7,238

0.09

0.09

Monroe

0

0

0

8

2

10

1,223

0.50

0.51

Montgomery

0

0

0

1

0

1

12,687

0.05

0.05

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Moultrie

0

0

0

0

0

0

n/a

0.00

0.00

Ogle

0

0

0

0

1

1

21,557

0.03

0.03

Peoria

0

1

1

72

8

82

989

0.62

0.63

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Piatt

0

0

0

0

0

0

n/a

0.00

0.00

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Pope

0

0

0

0

0

0

n/a

0.00

0.00

Pulaski

0

0

0

0

0

0

n/a

0.00

0.00

Putnam

0

0

0

1

0

1

3,063

0.20

0.20

Randolph

0

0

0

7

1

8

1,698

0.36

0.37

Richland

0

0

0

0

1

1

7,730

0.08

0.08

Rock Island

0

0

2

37

27

66

985

0.63

0.63

Saint Clair

0

3

3

177

20

203

549

1.12

1.14

Saline

0

1

0

0

0

1

12,837

0.05

0.05

Sangamon

0

0

0

126

96

222

402

1.53

1.55

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

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

2

1

0

0

3

7,366

0.08

0.08

Tazewell

0

0

1

37

4

42

1,318

0.47

0.47

Union

0

0

0

0

0

0

n/a

0.00

0.00

Vermilion

0

0

0

2

0

2

18,414

0.03

0.03

Wabash

0

0

0

0

0

0

n/a

0.00

0.00

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

Wayne

0

0

0

0

0

0

n/a

0.00

0.00

White

0

0

0

0

0

0

n/a

0.00

0.00

Whiteside

0

0

0

0

0

0

n/a

0.00

0.00

Will

0

1

43

460

130

634

341

1.81

1.83

Williamson

0

0

2

22

0

24

1,213

0.51

0.51

Winnebago

0

0

17

189

49

255

477

1.29

1.31

Woodford

0

0

0

0

1

1

14,519

0.04

0.04

 

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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