ILLINOIS FORECLOSURES INCREASE 17 PERCENT IN OCTOBER

Activity Up 25 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Nov. 26, 2007 – Illinois documented 9,674 foreclosure filings, the seventh highest foreclosure total in the nation for October. The total represents a 17 percent increase from the previous month, and a 25 percent increase from October 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 532 households ranked 10th among the 50 states.

 

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.

 

“Throughout Illinois the number of homeowners in some stage of foreclosure grew by double-digits in October and are up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure filings in Illinois were particularly pronounced in Cook, Lake and DuPage counties.”

 

Total foreclosure filings in Illinois were well behind national leader California, which tallied 50,401 foreclosure filings for October. Illinois also lagged far behind second ranked Florida, which reported 30,190 foreclosure filings for the month. Ohio ranked third with 17,276 foreclosure filings. Michigan reported the nation’s fourth highest foreclosure total, with 13,415 foreclosure filings in some stage of the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in October were Texas, Georgia, Nevada, New York and Arizona.

 

Cook County leads the state in foreclosure total

Cook County far and away led all counties in foreclosure activity for October, reporting 5,935 foreclosure filings — accounting for 61 percent of the state total for the month. Will County reported the second highest foreclosure total with 727 foreclosure filings. Lake County tallied the third highest foreclosure total in the state with 513 foreclosure filings. Du Page County reported the fourth highest foreclosure total with 509 foreclosure filings. Kane County rounded out the state’s top five reporting 378 filings in the foreclosure pipeline for October.

 

Kendall County posts highest foreclosure rate

Kendall County posted the highest foreclosure rate in the state for October, one foreclosure filing for every 186 households — 2.9 times the state average and three times the national average. Will County posted the second highest foreclosure rate, one foreclosure filing for every 298 households — 1.8 times the state average and 1.9 times the national average. Cook County posted the third highest rate, one foreclosure filing for every 361 households — 1.5 times the state average and 1.5 times the national average. McHenry County posted the fourth highest foreclosure rate, one foreclosure filing for every 391 households — 1.4 times both the state and national averages.

 

State makes significant contribution to national total

Total foreclosure filings in Illinois accounted for 4 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 U.S. households.

 

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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,598

22,485

48,356

53,609

224,452

555

n/a

n/a

Illinois

0

177

938

7,355

1,204

9,674

532

1.04

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

2

1

5

6,038

0.09

0.09

Alexander

0

0

0

0

0

0

n/a

0.00

0.00

Bond

0

0

0

0

1

1

7,035

0.08

0.08

Boone

0

0

0

22

4

26

683

0.81

0.78

Brown

0

0

0

0

0

0

n/a

0.00

0.00

Bureau

0

0

0

1

0

1

15,525

0.04

0.03

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Carroll

0

0

0

2

0

2

4,097

0.14

0.13

Cass

0

0

0

0

0

0

n/a

0.00

0.00

Champaign

0

1

1

29

6

37

2,177

0.25

0.24

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

1

0

0

0

1

6,568

0.08

0.08

Clinton

0

0

0

8

0

8

1,833

0.30

0.29

Coles

0

0

0

8

4

12

1,943

0.29

0.27

Cook

0

98

625

4,520

692

5,935

361

1.54

1.47

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

43

1

50

729

0.76

0.73

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

9

53

406

41

509

694

0.80

0.77

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

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

0

0

1

2

9,213

0.06

0.06

Fulton

0

0

0

0

0

0

n/a

0.00

0.00

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

0

19

1

20

868

0.64

0.61

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

0.02

Iroquois

0

1

0

1

0

2

6,790

0.08

0.08

Jackson

0

0

0

1

2

3

9,272

0.06

0.06

Jasper

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

0

1

0

0

1

2

8,768

0.06

0.06

Jersey

0

0

0

0

0

0

n/a

0.00

0.00

Jo Daviess

0

1

0

0

0

1

12,855

0.04

0.04

Johnson

0

0

0

0

0

0

n/a

0.00

0.00

Kane

0

11

39

286

42

378

433

1.28

1.23

Kankakee

0

0

2

50

13

65

660

0.84

0.81

Kendall

0

2

6

121

22

151

186

2.98

2.85

Knox

0

0

0

0

0

0

n/a

0.00

0.00

La Salle

0

1

1

36

17

55

883

0.63

0.60

Lake

0

7

81

344

81

513

481

1.15

1.11

Lawrence

0

0

0

0

0

0

n/a

0.00

0.00

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

0

0

0

n/a

0.00

0.00

Macon

0

4

2

34

14

54

956

0.58

0.56

Macoupin

0

0

2

1

0

3

7,322

0.08

0.07

Madison

0

8

8

84

32

132

873

0.64

0.61

Marion

0

0

1

0

0

1

18,441

0.03

0.03

Marshall

0

0

1

0

0

1

6,112

0.09

0.09

Mason

0

0

0

0

0

0

n/a

0.00

0.00

Massac

0

0

1

0

0

1

7,121

0.08

0.07

McDonough

0

0

0

0

0

0

n/a

0.00

0.00

McHenry

0

3

25

218

34

280

391

1.42

1.36

Mclean

0

0

1

5

3

9

7,391

0.08

0.07

Menard

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

0

0

1

1

7,238

0.08

0.07

Monroe

0

1

0

7

1

9

1,359

0.41

0.39

Montgomery

0

0

1

0

0

1

12,687

0.04

0.04

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

1

0

0

2

3

7,186

0.08

0.07

Peoria

0

2

1

82

22

107

758

0.73

0.70

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Piatt

0

0

0

0

1

1

7,118

0.08

0.07

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

0

0

6

3

9

1,510

0.37

0.35

Richland

0

1

0

0

1

2

3,865

0.14

0.14

Rock Island

0

0

1

19

12

32

2,032

0.27

0.26

Saint Clair

0

4

5

72

10

91

1,225

0.45

0.43

Saline

0

0

0

0

1

1

12,837

0.04

0.04

Sangamon

0

2

3

69

36

110

812

0.68

0.65

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

2

0

2

4

5,525

0.10

0.10

Tazewell

0

0

0

51

13

64

865

0.64

0.61

Union

0

0

0

0

0

0

n/a

0.00

0.00

Vermilion

0

1

0

0

5

6

6,138

0.09

0.09

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

1

0

0

0

1

6,670

0.08

0.08

Wayne

0

1

0

0

0

1

8,211

0.07

0.06

White

0

0

0

0

0

0

n/a

0.00

0.00

Whiteside

0

1

1

0

1

3

8,488

0.07

0.06

Will

0

5

47

604

71

727

298

1.86

1.79

Williamson

0

0

3

19

1

23

1,266

0.44

0.42

Winnebago

0

6

19

185

6

216

563

0.98

0.94

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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