INDIANA FORECLOSURE ACTIVITY DECREASES 6 PERCENT IN FIRST QUARTER

State Activity Down 11 Percent From Q1 2008

Monthly Activity Up 16 percent in March, Up Less than One Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 12,457 Indiana properties in the first quarter of 2009, a 6 percent decrease from the previous quarter and 11 percent below the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Hoosier State reported 5,126 properties with foreclosure filings in March, a 16 percent increase from the previous month and less than one percent above its March 2008 total.

 

“Foreclosure activity in Indiana declined somewhat on a quarterly basis and compared to the same period last year,” said James J. Saccacio, Chief executive officer of RealtyTrac. “One contributing factor to this is home prices, which have not decreased statewide to the extent they have in many other states.”

 

Indiana documented the 12th highest raw number of properties receiving foreclosure filings in the first quarter. Its foreclosure rate — one in every 223 housing units receiving a foreclosure filing during the quarter — came in 14th among the 50 states.

 

Five counties account for bulk of state foreclosure total for the quarter

Five Indiana counties accounted for 62 percent of the state’s overall foreclosure activity during the first quarter. Marion County had the most activity during the quarter, reporting 4,217 properties with foreclosure filings. Lake County was second, reporting 1,360 properties with foreclosure filings for the quarter. Allen County was third highest, reporting 963 properties with foreclosure filings. St Joseph County registered the fourth highest total, documenting 596 properties with foreclosure filings. Fifth highest total was tallied in Hamilton County, where 553 properties with foreclosure filings were reported.

 

Marion County posts state’s highest foreclosure rate for first quarter

With one in every 99 housing units receiving a foreclosure filing — 2.3 times the state average and 1.6 times the national average — Marion County posted the highest county foreclosure rate for Q1 2009. Miami County came in second, with one in every 136 housing units receiving a foreclosure filing — 1.6 times the state average and 1.2 times the national average. Third highest rate was documented in Johnson County, where one in every 140 housing units received a foreclosure filing during the month — 1.6 times the state average and 1.1 times the national average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Indiana accounted for nearly 2 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter  — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the quarter — which is extremely rare — only the most recent filing is counted in the report.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                              Indiana Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16%

23.63%

Indiana

0

4,588

93

4,523

3,253

12,457

223

-6.01%

-10.61%

 

 

 

 

 

 

 

 

 

 

Adams

0

1

1

0

3

5

2,627

400.00%

400.00%

Allen

0

381

6

295

281

963

158

7.12%

-4.65%

Bartholomew

0

0

0

47

1

48

654

17.07%

-2.04%

Benton

0

1

0

2

1

4

974

33.33%

300.00%

Blackford

0

1

1

17

7

26

246

-10.34%

62.50%

Boone

0

1

0

70

20

91

239

28.17%

911.11%

Brown

0

0

0

1

0

1

7,938

-66.67%

Carroll

0

0

1

17

1

19

493

-17.39%

58.33%

Cass

0

0

0

35

1

36

479

-20.00%

-40.00%

Clark

0

0

1

91

6

98

484

12.64%

1860.00%

Clay

0

1

0

4

1

6

1,941

50.00%

Clinton

0

0

0

7

1

8

1,706

60.00%

Crawford

0

0

0

3

4

7

768

-61.11%

-12.50%

Daviess

0

12

0

0

1

13

948

30.00%

De Kalb

0

1

0

1

3

5

3,476

0.00%

400.00%

Dearborn

0

2

0

45

1

48

417

0.00%

-4.00%

Decatur

0

21

0

24

1

46

235

12.20%

15.00%

Delaware

0

87

0

55

1

143

370

-16.37%

88.16%

Dubois

0

21

0

1

0

22

763

4.76%

Elkhart

0

102

3

195

128

428

181

16.94%

-18.32%

Fayette

0

30

2

13

22

67

169

-15.19%

24.07%

Floyd

0

0

0

5

0

5

6,293

-16.67%

-83.87%

Fountain

0

9

2

3

1

15

526

36.36%

-34.78%

Franklin

0

13

0

1

0

14

666

-6.67%

Fulton

0

12

0

2

0

14

688

-57.58%

7.69%

Gibson

0

24

1

7

15

47

322

14.63%

147.37%

Grant

0

0

2

10

3

15

2,110

50.00%

-68.09%

Greene

0

0

0

0

1

1

15,743

-66.67%

0.00%

Hamilton

0

175

1

245

132

553

180

10.38%

55.77%

Hancock

0

50

0

39

61

150

183

-23.47%

-15.25%

Harrison

0

0

0

3

0

3

4,997

0.00%

200.00%

Hendricks

0

0

1

5

2

8

6,840

-61.90%

300.00%

Henry

0

2

1

82

64

149

144

101.35%

-10.24%

Howard

0

132

2

130

10

274

144

-15.17%

20.70%

Huntington

0

1

0

6

0

7

2,303

-30.00%

75.00%

Jackson

0

0

0

2

0

2

9,172

0.00%

100.00%

Jasper

0

0

0

7

20

27

480

107.69%

80.00%

Jay

0

0

1

3

2

6

1,563

100.00%

50.00%

Jefferson

0

0

0

0

2

2

7,128

-66.67%

100.00%

Jennings

0

0

0

0

0

0

-100.00%

-100.00%

Johnson

0

161

0

143

91

395

140

-16.49%

26.60%

Knox

0

0

0

3

0

3

5,871

-25.00%

50.00%

Kosciusko

0

59

1

42

33

135

265

-11.18%

80.00%

La Porte

0

91

0

6

32

129

374

-20.37%

-53.76%

Lagrange

0

1

0

4

1

6

2,399

50.00%

-53.85%

Lake

0

352

13

446

549

1,360

154

-5.62%

-17.48%

Lawrence

0

0

1

7

0

8

2,654

0.00%

Madison

0

178

4

144

60

386

154

-28.52%

-33.68%

Marion

0

2,198

16

1,061

942

4,217

99

-7.50%

-21.89%

Marshall

0

41

0

39

0

80

242

1.27%

23.08%

Martin

0

0

0

0

1

1

4,921

0.00%

Miami

0

30

1

55

30

116

136

-23.68%

38.10%

Monroe

0

0

2

50

1

53

1,073

20.45%

-35.37%

Montgomery

0

47

2

5

26

80

207

-20.00%

166.67%

Morgan

0

28

1

77

21

127

226

-12.41%

535.00%

Newton

0

1

0

6

1

8

762

0.00%

300.00%

Noble

0

43

0

40

3

86

229

3.61%

-12.24%

Ohio

0

0

0

1

0

1

2,692

-50.00%

Orange

0

1

1

21

6

29

301

11.54%

0.00%

Owen

0

0

0

2

3

5

2,090

-37.50%

150.00%

Parke

0

1

0

7

3

11

713

-38.89%

10.00%

Perry

0

0

0

0

1

1

8,478

0.00%

-85.71%

Pike

0

0

1

0

0

1

6,029

Porter

0

1

0

26

37

64

1,024

-66.84%

-49.61%

Posey

0

0

0

1

0

1

11,667

-50.00%

Pulaski

0

0

0

9

0

9

694

50.00%

Putnam

0

0

0

4

31

35

413

-7.89%

105.88%

Randolph

0

0

4

21

21

46

262

4.55%

24.32%

Ripley

0

2

0

22

0

24

494

9.09%

Rush

0

0

0

1

0

1

7,708

-87.50%

Scott

0

0

0

31

24

55

197

52.78%

-3.51%

Shelby

0

0

0

5

39

44

428

25.71%

12.82%

Spencer

0

0

0

0

0

0

-100.00%

-100.00%

St Joseph

0

10

9

392

185

596

191

14.18%

-7.02%

Starke

0

1

1

2

0

4

2,717

100.00%

300.00%

Steuben

0

1

0

31

16

48

400

-11.11%

0.00%

Sullivan

0

0

1

0

2

3

3,049

50.00%

Switzerland

0

0

0

0

0

0

-100.00%

Tippecanoe

0

111

0

25

82

218

307

-33.13%

-34.73%

Tipton

0

0

0

23

19

42

172

44.83%

121.05%

Union

0

1

0

10

7

18

186

28.57%

5.88%

Vanderburgh

0

0

5

68

65

138

590

-17.86%

-44.80%

Vermillion

0

0

0

0

2

2

3,801

100.00%

Vigo

0

77

2

55

64

198

239

-8.76%

-16.81%

Wabash

0

36

0

2

1

39

370

0.00%

25.81%

Warren

0

0

0

1

0

1

3,846

Warrick

0

1

0

0

23

24

1,009

-17.24%

-62.50%

Washington

0

0

0

29

20

49

244

28.95%

13.95%

Wayne

0

0

2

86

9

97

320

19.75%

-28.15%

Wells

0

21

0

18

0

39

299

-23.53%

-17.02%

White

0

0

0

7

1

8

1,610

33.33%

700.00%

Whitley

0

14

0

22

4

40

347

21.21%

25.00%

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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