ILLINOIS FORECLOSURES INCREASE 6 PERCENT IN APRIL

Activity Up 29 Percent From a Year Ago; Foreclosure Rate Ranks in Top 10

 

IRVINE, Calif. – May 18, 2007 – Illinois documented 8,298 foreclosure filings in April, a 6 percent increase from the previous month, and a 29 percent increase from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 589 households was the ninth highest in the nation.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 remains strong, keeping the state among the nation’s top 10 for total foreclosure filings so far this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “An exploding inventory of unsold homes and slowing home price appreciation is making it more difficult for distressed homeowners in Illinois to sell their way out of foreclosure.”

 

Illinois documented the fifth highest foreclosure total in the nation for April, well behind top-rated California, which led the nation with 30,505 foreclosure filings. Reporting 14,318 foreclosures filings, Florida was securely in second place, followed by Ohio in third place with 11,431 foreclosure filings in April. Texas had the fourth highest foreclosure level, reporting 11,424 foreclosure filings. The remaining states in the nation’s top 10 for the month were Georgia, Michigan, Colorado, Connecticut and Arizona.

 

Cook County leads the state in foreclosure total

Cook County far and away led all counties in foreclosure activity for April, reporting 5,107 foreclosure filings — 62 percent of the state total. Will County reported the second highest total with 580 foreclosure filings. Lake County tallied the third highest total with 457 foreclosure filings. Du Page County reported the fourth highest total with 446 foreclosure filings. Kane County rounded out the state’s top five, reporting 358 filings in the foreclosure pipeline.

 

Kendall County posts highest foreclosure rate in the state

Kendall County tallied the highest foreclosure rate in Illinois for April, reporting one foreclosure filing for every 257 households — 2.3 times the state average and 3.1 times the national average. Will County posted the second highest rate with one foreclosure filing for every 303 households — almost twice the state average and 2.6 times the national average. McHenry County came in third with one foreclosure filing for every 319 households — 1.9 times the state average and 2.5 times the national average. Fourth highest rate in the state was posted in Kane County with one foreclosure filing for every 388 households — 1.5 times the state average and twice the national average. Cook County posted the fifth highest rate, reporting one foreclosure filing for every 410 households.

 

State makes significant contribution to national total

Total foreclosure filings in Illinois accounted for 6 percent of the 147,708 foreclosure filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,795

7,388

21,085

22,269

147,708

783

n/a

n/a

Illinois

0

114

742

6,819

623

8,298

589

1.33

n/a

 

 

 

 

 

 

 

 

 

 

Adams

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

2

2

0

0

4

3,854

0.20

0.15

Calhoun

0

0

0

0

0

0

n/a 

0.00

0.00

Carroll

0

1

0

0

0

1

7,945

0.10

0.07

Cass

0

0

0

0

0

0

n/a 

0.00

0.00

Champaign

0

0

0

12

7

19

3,962

0.20

0.15

Christian

0

0

0

0

0

0

n/a 

0.00

0.00

Clay

0

1

0

0

0

1

6,394

0.12

0.09

Clinton

0

2

0

6

0

8

1,726

0.45

0.34

Coles

0

1

0

0

0

1

22,768

0.03

0.03

Cook

0

49

440

4,299

319

5,107

410

1.91

1.44

De Kalb

0

0

4

40

2

46

717

1.09

0.82

Dewitt

0

1

0

0

0

1

7,282

0.11

0.08

Douglas

0

0

0

0

0

0

n/a 

0.00

0.00

Du Page

0

2

48

378

18

446

753

1.04

0.78

Edgar

0

0

0

0

0

0

n/a 

0.00

0.00

Effingham

0

0

1

0

0

1

13,959

0.06

0.04

Ford

0

0

0

0

0

0

n/a 

0.00

0.00

Franklin

0

1

1

1

0

3

6,035

0.13

0.10

Fulton

0

0

0

1

0

1

16,240

0.05

0.04

Greene

0

0

0

0

0

0

n/a 

0.00

0.00

Grundy

0

1

0

25

9

35

430

1.82

1.37

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

Henry

0

2

0

0

0

2

10,635

0.07

0.06

Iroquois

0

0

1

0

0

1

13,362

0.06

0.04

Jackson

0

1

0

1

0

2

13,422

0.06

0.04

Jasper

0

1

0

0

0

1

4,294

0.18

0.14

Jefferson

0

0

0

0

0

0

n/a 

0.00

0.00

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

5

31

305

17

358

388

2.02

1.52

Kankakee

0

1

8

46

10

65

625

1.25

0.94

Kendall

0

0

3

72

1

76

257

3.05

2.29

Knox

0

1

1

0

0

2

11,859

0.07

0.05

La Salle

0

0

0

2

1

3

15,479

0.05

0.04

Lake

0

4

44

368

41

457

494

1.58

1.19

Livingston

0

0

1

0

1

2

7,649

0.10

0.08

Logan

0

1

0

1

0

2

5,936

0.13

0.10

Macon

0

0

3

38

40

81

620

1.26

0.95

Macoupin

0

0

0

1

0

1

21,097

0.04

0.03

Madison

0

2

2

81

44

129

845

0.93

0.70

Marion

0

0

0

1

0

1

18,022

0.04

0.03

Marshall

0

1

0

0

2

3

1,971

0.40

0.30

Mason

0

0

0

2

0

2

3,517

0.22

0.17

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

10

267

11

291

319

2.45

1.85

Mclean

0

1

1

21

5

28

2,142

0.37

0.28

Menard

0

0

0

0

0

0

n/a 

0.00

0.00

Monroe

0

0

0

4

0

4

2,687

0.29

0.22

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

0

0

n/a 

0.00

0.00

Peoria

0

0

3

23

7

33

2,370

0.33

0.25

Perry

0

1

0

0

0

1

9,457

0.08

0.06

Piatt

0

0

0

0

0

0

n/a 

0.00

0.00

Pike

0

1

0

0

0

1

8,011

0.10

0.07

Putnam

0

0

0

0

0

0

n/a 

0.00

0.00

Randolph

0

0

1

2

0

3

4,443

0.18

0.13

Rock Island

0

2

1

1

0

4

16,122

0.05

0.04

Saint Clair

0

6

13

101

10

130

803

0.97

0.73

Sangamon

0

1

4

30

9

44

1,942

0.40

0.30

Stark

0

0

0

0

0

0

n/a 

0.00

0.00

Stephenson

0

0

1

0

0

1

21,713

0.04

0.03

Tazewell

0

0

1

42

14

57

929

0.84

0.63

Union

0

1

0

0

0

1

7,894

0.10

0.07

Vermilion

0

0

2

0

0

2

18,175

0.04

0.03

Wayne

0

1

0

0

0

1

7,959

0.10

0.07

Whiteside

0

2

2

0

0

4

6,256

0.13

0.09

Will

0

9

40

477

54

580

303

2.59

1.95

Williamson

0

1

0

15

1

17

1,630

0.48

0.36

Winnebago

0

4

73

156

0

233

491

1.59

1.20

Woodford

0

1

0

0

0

1

13,487

0.06

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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