ILLINOIS FORECLOSURES DECREASE 5 PERCENT IN SEPTEMBER

Statewide Foreclosure Activity Up 24 Percent From September 2007

 

IRVINE, Calif. – Oct. 27, 2008 – Illinois reported 10,204 properties with foreclosure filings in September, a 5 percent decrease in activity from the previous month, but still 24 percent above the level reported for September 2007, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. One in every 510 Illinois households received a foreclosure filing in September, the 12th highest foreclosure rate in the nation.

 

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 slightly in September due partially to changes in state laws that have at least temporarily slowed down the pace at which lenders are moving forward with foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “A number of factors are at play right now. Unemployment is up more than one percent so far this year to well above the national average. Home prices are running negative compared to last year. Plus, Cook County Sheriff Tom Dart has suspended all foreclosure evictions in the area. All of these can have an impact on foreclosure activity in the months ahead.”

 

Foreclosure activity in the Prairie State fell well short of national leader California which reported 69,548 properties with foreclosure filings in September. Florida tallied the nation’s second highest total, reporting 47,956 properties with foreclosure filings for the month. Nevada moved up to third highest total, reporting 13,022 properties with foreclosure filings. Arizona dropped down one notch to fourth highest, documenting 12,982 properties with foreclosure filings. Ohio ranked fifth, reporting 11,470 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in September were Michigan, Georgia, Texas and New Jersey.

 

Cook County leads the state in foreclosure activity for September

Cook County led the way in September, reporting 5,318 properties with foreclosure filings — 52 percent of the state total. Second place St. Clair County documented 675 properties with foreclosure filings. Lake County came in a close third, reporting 672 properties with foreclosure filings, followed by fourth place Will County reporting 671 properties with foreclosure filings. Du Page County had the state’s fifth highest total, reporting 603 properties with foreclosure filings for September.

 

Saint Clair County posts highest foreclosure rate in September

With one in every 168 households receiving a foreclosure filing — three times the state average and 2.8 times the national average — St. Clair County had the highest foreclosure rate in the state for September. Will County had the second highest rate, with one in every 334 households receiving a foreclosure filing — 1.5 times the state average and 1.4 times the national average. Third highest rate was posted in Kane County, where one in every 340 households received a foreclosure filing during the month — 1.5 times the state average and 1.4 times the national average.

 

State a major contributor to nation’s total in September

Illinois accounted for 4 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 U.S. households receiving a foreclosure filing during 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 Data by County – September 2008

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

Illinois

0

5,863

25

930

3,386

10,204

510

0.93

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

0

0

2

15,126

0.03

0.03

Alexander

0

0

0

0

0

0

 n/a

0.00

0.00

Bond

0

1

0

0

0

1

7,127

0.07

0.07

Boone

0

2

1

1

6

10

1,825

0.26

0.28

Brown

0

0

0

0

0

0

 n/a

0.00

0.00

Bureau

0

1

0

0

0

1

15,553

0.03

0.03

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

12

0

2

7

21

3,923

0.12

0.13

Christian

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Clinton

0

6

0

0

0

6

2,480

0.19

0.21

Coles

0

6

0

5

0

11

2,120

0.22

0.24

Cook

0

3,074

9

535

1,700

5,318

406

1.17

1.26

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

32

0

4

9

45

840

0.57

0.61

Dewitt

0

0

0

0

1

1

7,504

0.06

0.07

Douglas

0

0

0

0

0

0

 n/a

0.00

0.00

Du Page

0

390

0

35

178

603

591

0.80

0.86

Edgar

0

1

0

0

0

1

8,818

0.05

0.06

Edwards

0

0

0

0

0

0

 n/a

0.00

0.00

Effingham

0

1

0

0

0

1

14,531

0.03

0.04

Fayette

0

0

0

0

0

0

 n/a

0.00

0.00

Ford

0

1

0

5

0

6

1,037

0.46

0.49

Franklin

0

0

0

0

0

0

 n/a

0.00

0.00

Fulton

0

1

0

0

1

2

8,222

0.06

0.06

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

22

0

18

10

50

359

1.32

1.42

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

0

0

 n/a

0.00

0.00

Iroquois

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

1

6

7

3,984

0.12

0.13

Jasper

0

0

0

0

1

1

4,455

0.11

0.11

Jefferson

0

8

0

1

10

19

923

0.51

0.55

Jersey

0

0

0

0

0

0

 n/a

0.00

0.00

Jo Daviess

0

0

0

0

1

1

13,025

0.04

0.04

Johnson

0

0

0

0

0

0

 n/a

0.00

0.00

Kane

0

324

5

43

122

494

340

1.40

1.50

Kankakee

0

0

0

3

8

11

3,965

0.12

0.13

Kendall

0

73

0

10

5

88

351

1.35

1.45

Knox

0

0

0

0

3

3

7,994

0.06

0.06

La Salle

0

50

1

0

7

58

844

0.56

0.60

Lake

0

417

1

40

214

672

373

1.27

1.37

Lawrence

0

0

0

0

0

0

 n/a

0.00

0.00

Lee

0

1

0

0

2

3

4,911

0.10

0.10

Livingston

0

0

0

1

0

1

15,626

0.03

0.03

Logan

0

0

0

0

1

1

12,023

0.04

0.04

Macon

0

15

0

5

13

33

1,570

0.30

0.32

Macoupin

0

6

0

4

0

10

2,206

0.22

0.23

Madison

0

171

0

9

31

211

552

0.86

0.92

Marion

0

4

1

1

0

6

3,074

0.15

0.17

Marshall

0

1

0

0

0

1

6,109

0.08

0.08

Mason

0

2

0

2

1

5

1,420

0.33

0.36

Massac

0

0

0

0

0

0

 n/a

0.00

0.00

McDonough

0

0

0

0

1

1

14,134

0.03

0.04

McHenry

0

195

1

23

79

298

377

1.26

1.35

McLean

0

50

0

4

9

63

1,068

0.44

0.48

Menard

0

0

0

0

0

0

 n/a

0.00

0.00

Mercer

0

0

1

0

1

2

3,658

0.13

0.14

Monroe

0

5

0

0

2

7

1,793

0.26

0.28

Montgomery

0

0

0

0

0

0

 n/a

0.00

0.00

Morgan

0

0

0

0

1

1

15,612

0.03

0.03

Moultrie

0

0

0

0

0

0

 n/a

0.00

0.00

Ogle

0

15

0

0

10

25

872

0.54

0.58

Peoria

0

75

0

20

25

120

681

0.70

0.75

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

0

0

0

 n/a

0.00

0.00

Randolph

0

11

0

1

0

12

1,138

0.42

0.45

Richland

0

0

0

0

0

0

 n/a

0.00

0.00

Rock Island

0

67

2

36

25

130

502

0.95

1.01

Saint Clair

0

110

1

4

560

675

168

2.83

3.04

Saline

0

0

0

0

0

0

 n/a

0.00

0.00

Sangamon

0

75

0

3

10

88

1,023

0.46

0.50

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

1

0

2

0

3

7,383

0.06

0.07

Tazewell

0

65

0

2

7

74

757

0.63

0.67

Union

0

0

0

0

0

0

 n/a

0.00

0.00

Vermilion

0

1

0

4

6

11

3,345

0.14

0.15

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

1

0

0

0

1

7,630

0.06

0.07

Whiteside

0

0

0

1

0

1

25,565

0.02

0.02

Will

0

394

2

73

202

671

334

1.42

1.53

Williamson

0

18

0

14

8

40

735

0.65

0.69

Winnebago

0

151

0

18

103

272

454

1.05

1.12

Woodford

0

5

0

0

0

5

2,935

0.16

0.17

 

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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