ILLINOIS FORECLOSURES INCREASE 12 PERCENT IN FEBRUARY

State Foreclosure Activity Up 32 Percent From February 2007

 

IRVINE, Calif. – March 26, 2008 – Illinois reported 8,758 properties with foreclosure filings in February, a 12 percent increase in activity from the previous month, and 32 percent above the level reported for February 2007, according to the latest RealtyTrac™ U.S. Foreclosure Market Report, 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 rose slightly in February,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is well above the national average there, and home prices have been decelerating. Both are significant factors explaining why foreclosure numbers have increased in many parts of the state.”

 

With a foreclosure rate of one in every 587 Illinois households receiving a foreclosure filing in February, Illinois ranks 12th highest among the 50 states.

 

Foreclosure activity in the Prairie State fell well short of national leader California which reported 53,629 properties with foreclosure filings in February. Florida had the nation’s second highest foreclosure total, reporting 32,447 properties with foreclosure filings for the month. Third place Texas posted 12,261 properties with foreclosure filings and fourth place Michigan had 10,957 properties with foreclosure filings for the month. The remaining states in the nation’s top 10 properties with foreclosure filings in February were Ohio, Arizona, Georgia, Colorado and Nevada.

 

Cook County leads the state in foreclosure activity for February

Cook County led all counties in foreclosure activity by a wide margin in February, reporting 4,219 properties with foreclosure filings — 48 percent of the state total. Second place Will County documented 700 properties with foreclosure filings. Lake and Du Page counties tied for third, each reporting 618 properties with foreclosure filings. Kane County reported the fourth highest foreclosure total with 509 properties with foreclosure filings for February.

 

Will County posts highest foreclosure rate for the month

Will County posted the highest foreclosure rate in the state for February, with one in every 309 households receiving a foreclosure filing for the month — 1.9 times the state average and 1.8 times the national average. Kane County posted the state’s second highest rate, with one in every 321 households receiving a foreclosure filing — 1.8 times the state average and 1.7 times the national average. Kankakee County posted the third highest rate, with one in every 338 households receiving a foreclosure filing — 1.7 times the state average and 1.7 times the national average.

 

State a major contributor to nation’s total in February

Total foreclosure filings in Illinois accounted for 4 percent of the 223,651 properties with foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, but is still 60 percent ahead of the total reported for February 2007. One in every 557 U.S. households received 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 by County – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Illinois

0

93

734

6,670

1,261

8,758

587

0.95

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

2

42

6

50

355

1.57

1.65

Brown

0

0

0

0

0

0

n/a

0.00

0.00

Bureau

0

0

0

0

0

0

n/a

0.00

0.00

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

2

0

0

0

2

2,944

0.19

0.20

Champaign

0

0

0

42

12

54

1,492

0.37

0.39

Christian

0

0

0

0

0

0

n/a

0.00

0.00

Clark

0

0

0

1

0

1

8,061

0.07

0.07

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Clinton

0

0

0

2

0

2

7,333

0.08

0.08

Coles

0

0

0

11

2

13

1,793

0.31

0.33

Cook

0

43

396

3,101

679

4,219

508

1.10

1.16

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

2

55

5

62

588

0.95

1.00

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

3

48

511

56

618

571

0.97

1.03

Edgar

0

1

0

0

0

1

8,825

0.06

0.07

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

0

0

0

n/a

0.00

0.00

Ford

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Fulton

0

0

1

0

0

1

16,399

0.03

0.04

Gallatin

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

1

0

0

0

1

6,515

0.09

0.09

Grundy

0

0

1

3

0

4

4,342

0.13

0.14

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

0

0

0

n/a

0.00

0.00

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

0

1

0

6

0

7

2,505

0.22

0.23

Jersey

0

0

0

0

0

0

n/a

0.00

0.00

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

6

48

415

40

509

321

1.73

1.83

Kankakee

0

0

19

93

15

127

338

1.65

1.74

Kendall

0

0

4

59

8

71

396

1.40

1.48

Knox

0

0

0

3

0

3

7,992

0.07

0.07

La Salle

0

0

2

55

9

66

736

0.76

0.80

Lake

0

4

40

485

89

618

399

1.39

1.47

Lawrence

0

0

0

0

0

0

n/a

0.00

0.00

Lee

0

1

0

0

0

1

14,668

0.04

0.04

Livingston

0

0

1

0

0

1

15,571

0.04

0.04

Logan

0

0

0

0

0

0

n/a

0.00

0.00

Macon

0

1

1

36

15

53

974

0.57

0.60

Macoupin

0

0

0

2

0

2

10,983

0.05

0.05

Madison

0

3

6

244

68

321

359

1.55

1.64

Marion

0

1

0

0

0

1

18,441

0.03

0.03

Marshall

0

0

0

0

0

0

n/a

0.00

0.00

Mason

0

1

0

1

0

2

3,551

0.16

0.17

Massac

0

1

0

1

0

2

3,561

0.16

0.16

Mcdonough

0

0

0

0

0

0

n/a

0.00

0.00

Mchenry

0

4

23

215

41

283

387

1.44

1.52

Mclean

0

0

8

32

7

47

1,415

0.39

0.42

Menard

0

1

0

0

0

1

5,614

0.10

0.10

Mercer

0

0

0

1

0

1

7,238

0.08

0.08

Monroe

0

0

0

5

2

7

1,747

0.32

0.34

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

0

0

0

15

0

15

1,041

0.53

0.56

Moultrie

0

0

0

0

0

0

n/a

0.00

0.00

Ogle

0

1

0

16

0

17

1,268

0.44

0.46

Peoria

0

2

19

80

9

110

738

0.75

0.80

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

1

0

7

2

10

1,359

0.41

0.43

Richland

0

0

0

0

0

0

n/a

0.00

0.00

Rock Island

0

2

0

67

40

109

597

0.93

0.98

Saint Clair

0

3

9

121

7

140

796

0.70

0.74

Saline

0

0

0

0

0

0

n/a

0.00

0.00

Sangamon

0

0

5

50

0

55

1,624

0.34

0.36

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

0

0

0

0

0

n/a

0.00

0.00

Tazewell

0

0

6

48

7

61

907

0.61

0.65

Union

0

0

0

0

0

0

n/a

0.00

0.00

Vermilion

0

1

0

27

13

41

898

0.62

0.65

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

1

0

1

25,464

0.02

0.02

Will

0

1

68

564

67

700

309

1.80

1.90

Williamson

0

0

1

14

1

16

1,820

0.31

0.32

Winnebago

0

8

22

239

61

330

369

1.51

1.59

Woodford

0

0

2

0

0

2

7,260

0.08

0.08

 

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved