ILLINOIS FORECLOSURES INCREASE 11 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 70 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – Illinois documented 7,680 new foreclosure filings in January, an 11 percent increase from the previous month, and a 70 percent decrease from January 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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 continues at a strong pace, keeping its foreclosure rate among the nation’s 10 highest,” said James J. Saccacio, chief executive officer of RealtyTrac. “An increase in home sale inventory and slowing home price appreciation is making it more difficult for distressed homeowners to sell their way out of foreclosure.”

 

Illinois ranked seventh in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 637 households ranked ninth among the 50 states.

 

Cook County leads the state in foreclosure total

Cook County led the state in foreclosure activity once again, its 4,459 new foreclosure filings accounting for 58 percent of the Illinois total. Will County reported the second highest total, 564 new foreclosure filings, and Lake County tallied the third highest total in the state, 510 new foreclosure filings. Du Page County rounded out the state’s top five, reporting 402 new filings in the foreclosure pipeline during the month.

 

Will County posts highest foreclosure rate

Will County posted the highest foreclosure rate in the state for January, one new foreclosure filing for every 311 households — more than twice the state average and 2.9 times the national average. Winnebago County posted the second highest foreclosure rate, one new foreclosure filing for every 328 households — nearly twice the state average and 2.7 times the national average. Kane County had the third highest rate, with one new filing for every 361 households — 1.8 times the state average and 2.5 times the national average. McHenry County was fourth highest, reporting one new filing for every 382 households, and Lake County came in fifth with one new filing for every 443 households.

 

State makes significant contribution to national total

Illinois accounted for 6 percent of the 130,511 foreclosure filings nationwide in January, up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households 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 by County – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Illinois

31

13

706

6,307

623

7,680

637

1.39

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

1

0

1

29,386

0.03

0.02

Bond

0

0

0

1

0

1

6,690

0.13

0.10

Boone

0

0

1

24

0

25

617

1.44

1.03

Champaign

0

0

0

23

3

26

2,895

0.31

0.22

Christian

0

0

0

0

2

2

7,496

0.12

0.08

Clinton

0

0

0

3

0

3

4,602

0.19

0.14

Coles

0

0

0

0

0

0

n/a

0.00

0.00

Cook

20

3

418

3,746

272

4,459

470

1.88

1.35

De Kalb

0

1

1

40

5

47

702

1.26

0.91

Dewitt

0

0

0

0

1

1

7,282

0.12

0.09

Douglas

0

0

0

1

0

1

8,005

0.11

0.08

Du Page

0

1

23

352

26

402

835

1.06

0.76

Edgar

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

1

0

0

0

1

9,053

0.10

0.07

Ford

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

1

1

18,105

0.05

0.04

Fulton

0

0

1

2

0

3

5,413

0.16

0.12

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Grundy

0

0

1

21

7

29

519

1.71

1.23

Hamilton

0

0

0

0

0

0

n/a

0.00

0.00

Henry

1

0

0

0

0

1

21,270

0.04

0.03

Iroquois

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

0

0

0

0

1

1

26,844

0.03

0.02

Jasper

0

1

0

0

0

1

4,294

0.21

0.15

Jefferson

0

0

0

0

1

1

16,990

0.05

0.04

Jersey

0

0

0

0

0

0

n/a

0.00

0.00

Jo Daviess

0

0

0

0

1

1

12,003

0.07

0.05

Johnson

0

0

0

0

1

1

5,046

0.18

0.13

Kane

1

1

38

322

23

385

361

2.45

1.76

Kankakee

0

0

3

26

10

39

1,041

0.85

0.61

Kendall

0

0

3

37

1

41

476

1.86

1.34

Knox

0

0

2

1

0

3

7,906

0.11

0.08

La Salle

0

0

0

1

0

1

46,438

0.02

0.01

Lake

3

2

32

428

45

510

443

2.00

1.44

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Livingston

0

0

0

0

1

1

15,297

0.06

0.04

Logan

0

0

0

1

0

1

11,872

0.07

0.05

Macon

0

0

7

24

17

48

1,047

0.85

0.61

Macoupin

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

1

5

90

49

145

751

1.18

0.85

Marion

0

0

0

0

1

1

18,022

0.05

0.04

Marshall

0

0

0

1

0

1

5,914

0.15

0.11

Mason

0

0

1

1

1

3

2,344

0.38

0.27

Massac

0

0

0

0

1

1

6,951

0.13

0.09

McDonough

0

0

0

0

0

0

n/a

0.00

0.00

McHenry

1

0

16

206

20

243

382

2.32

1.67

Mclean

1

0

0

44

7

52

1,153

0.77

0.55

Menard

0

0

0

0

0

0

n/a

0.00

0.00

Monroe

0

0

0

4

3

7

1,536

0.58

0.41

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Moultrie

0

0

0

0

1

1

5,743

0.15

0.11

Ogle

0

0

0

0

1

1

20,420

0.04

0.03

Peoria

0

0

2

54

7

63

1,241

0.71

0.51

Perry

0

0

0

0

1

1

9,457

0.09

0.07

Piatt

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

Putnam

1

0

0

1

0

2

1,444

0.61

0.44

Randolph

0

0

0

2

3

5

2,666

0.33

0.24

Richland

0

0

0

0

1

1

7,468

0.12

0.09

Rock Island

0

0

2

0

0

2

32,245

0.03

0.02

Saint Clair

0

0

6

51

13

70

1,492

0.59

0.43

Saline

0

0

0

0

0

0

n/a

0.00

0.00

Sangamon

0

0

2

56

13

71

1,204

0.74

0.53

Schuyler

0

0

0

0

0

0

n/a

0.00

0.00

Stephenson

0

0

1

2

0

3

7,238

0.12

0.09

Tazewell

0

0

2

43

7

52

1,019

0.87

0.63

Union

0

0

0

0

0

0

n/a

0.00

0.00

Vermilion

0

0

2

0

1

3

12,116

0.07

0.05

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Will

2

1

71

435

55

564

311

2.85

2.05

Williamson

0

0

0

2

0

2

13,852

0.06

0.05

Winnebago

1

1

66

261

20

349

328

2.70

1.94

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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