ILLINOIS FORECLOSURES DECREASE 4 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 10 Percent From July 2006

 

IRVINE, Calif. – August 24, 2007 – Illinois documented 5,530 foreclosure filings in July, a 4 percent decrease from the previous month, but still a 10 percent increase from July 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.

 

“Although Illinois saw a slight month-to-month decline in activity for July, foreclosures in the state are still up from a year earlier,” said James J. Saccacio, chief executive officer of RealtyTrac. “Moreover, existing-home sales in the Chicago area dropped 13 percent from the year before in July and sales are down 10 percent statewide as the turmoil in the subprime mortgage industry is keeping buyers out of the market.”

 

Illinois documented the 9th highest foreclosure total in the nation for July, well behind top-rated California. The state’s foreclosure rate of one foreclosure filing for every 930 households ranked 15th among the 50 states.

 

Total foreclosure filings in Illinois were well behind national leader California, which tallied 39,013 foreclosure filings for July. The state also lagged far behind second ranked Florida, which reported 19,179 filings for the month. Michigan came in third with a foreclosure totel of 13,979 filings. Ohio ranked fourth with 13,316 filings, followed Georgia with 12,602 filings in some stage of the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in July were Texas, Colorado, Arizona and Nevada.

 

Cook County leads the state in foreclosure total

Cook County far and away led all counties in foreclosure activity for July, reporting 3,209 foreclosure filings — 58 percent of the state total. Will County reported the second highest foreclosure total with 527 foreclosure filings. Du Page County tallied the third highest foreclosure total in the state with 382 foreclosure filings. Kane County reported the fourth highest foreclosure total with 287 foreclosure filings. Lake County was a close fifth, reporting 286 filings in the foreclosure pipeline in July.

 

Will County posts highest foreclosure rate

Will County posted the highest foreclosure rate in the state for July, one foreclosure filing for every 410 households — 2.3 times the state average and 1.7 times the national average. Kendall County posted the second highest foreclosure rate, one foreclosure filing for every 494 households — 1.9 times the state average and 1.4 the national average. Kane County posted the third highest foreclosure rate, one foreclosure filing for every 570 households — 1.6 times the state average and 1.2 the national average. Winnebago County posted the fourth highest foreclosure rate, reporting one foreclosure filing for every 641 households. Cook County had the fifth highest county rate at one foreclosure filing for every 668 households.

 

State makes significant contribution to national total

Total foreclosure filings in Illinois accounted for 3 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Illinois

1

153

605

4,243

528

5,530

930

0.75

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

1

0

2

15,095

0.05

0.06

Boone

0

2

0

5

2

9

1,973

0.35

0.47

Brown

0

0

0

0

0

0

n/a 

0.00

0.00

Bureau

0

0

1

0

0

1

15,525

0.04

0.06

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

1

0

10

3

14

5,754

0.12

0.16

Clark

0

0

0

0

1

1

8,061

0.09

0.12

Clinton

0

0

0

2

0

2

7,333

0.09

0.13

Coles

0

0

1

8

1

10

2,331

0.30

0.40

Cook

1

71

402

2,453

282

3,209

668

1.04

1.39

De Kalb

0

0

0

22

1

23

1,584

0.44

0.59

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

5

26

325

26

382

924

0.75

1.01

Edgar

0

0

0

0

0

0

n/a 

0.00

0.00

Ford

0

0

0

0

0

0

n/a 

0.00

0.00

Franklin

0

1

1

0

0

2

9,213

0.08

0.10

Fulton

0

0

0

0

0

0

n/a 

0.00

0.00

Greene

0

0

0

1

0

1

6,515

0.11

0.14

Grundy

0

0

0

15

6

21

827

0.84

1.12

Hamilton

0

1

0

0

0

1

4,098

0.17

0.23

Hancock

0

0

0

0

0

0

n/a 

0.00

0.00

Henry

0

0

0

1

0

1

21,599

0.03

0.04

Iroquois

0

0

0

0

0

0

n/a 

0.00

0.00

Jackson

0

0

0

1

0

1

27,817

0.02

0.03

Jefferson

0

1

0

0

0

1

17,535

0.04

0.05

Jersey

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

9

22

228

28

287

570

1.22

1.63

Kankakee

0

1

3

24

3

31

1,384

0.50

0.67

Kendall

0

1

1

50

5

57

494

1.40

1.88

Knox

0

0

1

0

0

1

23,975

0.03

0.04

La Salle

0

1

0

0

10

11

4,413

0.16

0.21

Lake

0

9

33

220

24

286

863

0.80

1.08

Lee

0

1

0

0

0

1

14,668

0.05

0.06

Logan

0

0

0

2

1

3

4,004

0.17

0.23

Macon

0

3

3

1

2

9

5,735

0.12

0.16

Macoupin

0

0

0

0

0

0

n/a 

0.00

0.00

Madison

0

6

3

71

25

105

1,097

0.63

0.85

Marion

0

2

5

0

0

7

2,634

0.26

0.35

Marshall

0

0

0

0

0

0

n/a 

0.00

0.00

Mason

0

0

2

1

0

3

2,367

0.29

0.39

Massac

0

0

0

0

0

0

n/a 

0.00

0.00

McDonough

0

0

0

0

0

0

n/a 

0.00

0.00

McHenry

0

3

15

123

5

146

750

0.92

1.24

Mclean

0

0

1

11

4

16

4,158

0.17

0.22

Menard

0

0

0

0

0

0

n/a 

0.00

0.00

Mercer

0

1

0

0

0

1

7,238

0.10

0.13

Monroe

0

0

0

4

0

4

3,057

0.23

0.30

Montgomery

0

0

1

0

0

1

12,687

0.05

0.07

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

0.04

Peoria

0

1

3

22

7

33

2,458

0.28

0.38

Piatt

0

0

2

1

0

3

2,373

0.29

0.39

Pike

0

0

0

0

0

0

n/a 

0.00

0.00

Pope

0

0

1

0

0

1

2,433

0.28

0.38

Pulaski

0

1

0

0

0

1

3,422

0.20

0.27

Putnam

0

0

0

0

0

0

n/a 

0.00

0.00

Randolph

0

0

0

1

1

2

6,793

0.10

0.14

Richland

0

1

1

0

0

2

3,865

0.18

0.24

Rock Island

0

3

1

1

0

5

13,007

0.05

0.07

Saint Clair

0

7

8

30

8

53

2,104

0.33

0.44

Saline

0

0

0

1

0

1

12,837

0.05

0.07

Sangamon

0

2

4

1

1

8

11,166

0.06

0.08

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

1

1

0

0

2

11,049

0.06

0.08

Tazewell

0

3

1

6

0

10

5,535

0.13

0.17

Vermilion

0

0

2

8

8

18

2,046

0.34

0.45

Washington

0

0

0

0

0

0

n/a 

0.00

0.00

Whiteside

0

0

0

1

0

1

25,464

0.03

0.04

Will

0

8

41

422

56

527

410

1.69

2.27

Williamson

0

0

2

20

0

22

1,324

0.52

0.70

Winnebago

0

6

17

150

17

190

641

1.08

1.45

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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