INDIANA FORECLOSURE ACTIVITY DECREASES 12 PERCENT IN SEPTEMBER

Yearly Total Up 12 Percent From September 2006, Rate in Nation’s Top 10

 

IRVINE, Calif. – Oct. 26, 2007 – Indiana reported 4,430 foreclosure filings in September, down 12 percent from the previous month but still up 12 percent from September 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 615 households ranked 10th highest 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.

 

“Although foreclosure activity in Indiana declined in September, the state still ranked 13th highest foreclosure total in the country for the month. Despite the monthly decline, activity was still up slightly from the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate is currently above the national average, plus the rate of home price appreciation in the state has slowed down considerably. These factors are contributing to the overall rise in foreclosure activity.”

 

Top five counties account for bulk of state activity

Total foreclosure filings in five Indiana counties accounted for 73 percent of the state’s activity in September. Marion County reported 2,026 foreclosure filings, the most of any county for the month. Allen County was second, reporting 421 filings, followed by Lake County with 395 filings for the month. St Joseph County reported the fourth highest county total with 269 filings, followed by Elkhart County with 100 filings.

 

Highest foreclosure rate reported in Marion County

With a rate of one foreclosure filing for every 204 households — three times the state average  and 2.7 times the national average — Marion County reported the highest county foreclosure rate in the state for September. Second was Henry County with one foreclosure filing for every 285 households — 2.2 times the state average and two times the national average — followed by Noble County with one filing for every 334 households — 1.8 times the state average and 1.7 times the national average. Wayne County posted the fourth highest foreclosure rate with one foreclosure filing for every 337 households — 1.8 times the state average and 1.7 times the national average, followed by Allen County with one filing for every 355 households — 1.7 times the state average and 1.6 times the national average.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in Indiana accounted for 2 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. 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.

 

 

                           Indiana Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Indiana

0

23

2,018

895

1,494

4,430

615

0.91

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

12,935

0.04

0.05

Allen

0

2

168

102

149

421

355

1.57

1.73

Bartholomew

0

0

19

0

0

19

1,629

0.34

0.38

Benton

0

0

1

0

0

1

3,886

0.14

0.16

Blackford

0

0

12

0

6

18

356

1.57

1.73

Boone

0

0

0

0

1

1

20,582

0.03

0.03

Brown

0

0

2

0

0

2

3,886

0.14

0.16

Carroll

0

0

9

0

0

9

1,023

0.54

0.60

Cass

0

0

1

0

17

18

958

0.58

0.64

Clark

0

0

1

3

2

6

7,664

0.07

0.08

Clay

0

0

1

0

3

4

2,908

0.19

0.21

Clinton

0

0

1

0

2

3

4,540

0.12

0.14

Crawford

0

0

0

0

2

2

2,705

0.21

0.23

Daviess

0

0

0

0

0

0

 

0.00

0.00

De Kalb

0

1

1

1

0

3

5,712

0.10

0.11

Dearborn

0

1

0

0

0

1

19,546

0.03

0.03

Decatur

0

0

8

0

0

8

1,329

0.42

0.46

Delaware

0

0

5

0

1

6

8,780

0.06

0.07

Dubois

0

0

0

0

1

1

16,581

0.03

0.04

Elkhart

0

0

37

20

43

100

758

0.73

0.81

Fayette

0

0

13

0

13

26

435

1.28

1.41

Floyd

0

0

23

0

0

23

1,345

0.41

0.46

Fountain

0

0

0

0

1

1

7,916

0.07

0.08

Franklin

0

1

3

1

0

5

1,838

0.30

0.33

Fulton

0

0

0

0

0

0

 

0.00

0.00

Gibson

0

0

3

0

1

4

3,736

0.15

0.16

Grant

0

2

3

0

2

7

4,520

0.12

0.14

Greene

0

0

0

0

0

0

 

0.00

0.00

Hamilton

0

0

2

5

32

39

2,349

0.24

0.26

Hancock

0

0

29

8

4

41

640

0.87

0.96

Harrison

0

0

0

0

0

0

 

0.00

0.00

Hendricks

0

1

5

0

2

8

6,397

0.09

0.10

Henry

0

0

2

0

73

75

285

1.95

2.16

Howard

0

1

2

1

48

52

754

0.74

0.82

Huntington

0

1

3

1

1

6

2,663

0.21

0.23

Jackson

0

0

1

0

2

3

6,039

0.09

0.10

Jasper

0

0

0

0

10

10

1,253

0.44

0.49

Jay

0

0

0

1

0

1

9,386

0.06

0.07

Jefferson

0

0

1

0

0

1

14,099

0.04

0.04

Jennings

0

0

2

1

0

3

4,185

0.13

0.15

Johnson

0

0

73

1

3

77

678

0.82

0.91

Knox

0

0

0

0

0

0

 

0.00

0.00

Kosciusko

0

0

0

1

14

15

2,330

0.24

0.26

La Porte

0

1

5

1

2

9

5,284

0.11

0.12

Lagrange

0

0

2

1

1

4

3,494

0.16

0.18

Lake

0

2

239

4

150

395

520

1.07

1.18

Lawrence

0

1

3

0

0

4

5,320

0.10

0.12

Madison

0

0

22

35

4

61

965

0.58

0.64

Marion

0

6

926

638

456

2,026

204

2.74

3.02

Marshall

0

0

9

0

3

12

1,591

0.35

0.39

Martin

0

0

0

0

0

0

 

0.00

0.00

Miami

0

0

2

0

1

3

5,276

0.11

0.12

Monroe

0

0

17

7

13

37

1,503

0.37

0.41

Montgomery

0

0

0

1

0

1

16,440

0.03

0.04

Morgan

0

0

0

2

1

3

9,402

0.06

0.07

Newton

0

0

0

1

0

1

6,015

0.09

0.10

Noble

0

0

28

30

0

58

334

1.67

1.84

Ohio

0

0

0

0

0

0

 

0.00

0.00

Orange

0

0

0

0

2

2

4,365

0.13

0.14

Owen

0

0

0

0

0

0

 

0.00

0.00

Parke

0

0

3

0

3

6

1,301

0.43

0.47

Perry

0

0

0

1

0

1

8,458

0.07

0.07

Pike

0

0

0

0

0

0

 

0.00

0.00

Porter

0

0

33

0

60

93

681

0.82

0.90

Posey

0

0

1

0

0

1

11,561

0.05

0.05

Pulaski

0

0

0

0

0

0

 

0.00

0.00

Putnam

0

0

2

1

13

16

884

0.63

0.70

Randolph

0

0

7

0

10

17

706

0.79

0.87

Ripley

0

0

0

0

1

1

11,517

0.05

0.05

Rush

0

0

0

0

0

0

 

0.00

0.00

Scott

0

0

0

0

7

7

1,517

0.37

0.41

Shelby

0

1

2

0

9

12

1,540

0.36

0.40

Spencer

0

0

1

6

0

7

1,279

0.44

0.48

St Joseph

0

0

93

1

175

269

417

1.34

1.47

Starke

0

0

0

1

2

3

3,551

0.16

0.17

Steuben

0

0

13

0

7

20

942

0.59

0.65

Sullivan

0

0

0

0

1

1

9,173

0.06

0.07

Switzerland

0

0

0

0

0

0

 

0.00

0.00

Tippecanoe

0

1

22

1

27

51

1,284

0.43

0.48

Tipton

0

0

0

0

3

3

2,356

0.24

0.26

Union

0

0

0

0

1

1

3,333

0.17

0.18

Vanderburgh

0

0

66

6

3

75

1,072

0.52

0.57

Vermillion

0

0

0

0

0

0

 

0.00

0.00

Vigo

0

0

45

1

30

76

615

0.91

1.00

Wabash

0

0

1

0

1

2

7,213

0.08

0.09

Warren

0

0

0

0

0

0

 

0.00

0.00

Warrick

0

0

0

4

7

11

2,088

0.27

0.29

Washington

0

0

10

0

10

20

594

0.94

1.04

Wayne

0

1

32

2

57

92

337

1.65

1.82

Wells

0

0

3

0

0

3

3,848

0.14

0.16

White

0

0

0

0

0

0

 

0.00

0.00

Whitley

0

0

0

5

0

5

2,728

0.20

0.23

 

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 homes, 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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