INDIANA FORECLOSURE ACTIVITY DECREASES 7 PERCENT IN FEBRUARY

Yearly Total Up 50 Percent From February 2007; Rate in Nation’s Top 10

 

IRVINE, Calif. – Mar. 26, 2008 – Indiana reported 5,147 properties with foreclosure filings in February. After a 50 percent increase in January, statewide activity decreased 7 percent for the month but is still 50 percent above the level reported for February 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 529 households received a foreclosure filing during the month, ranking it the ninth highest foreclosure rate 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.

 

Indiana was one of the few states that experienced a decrease in foreclosures during the month of February,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s current unemployment rate is well below the national average and its home price appreciation exceeded that of many states last year. These factors are probably contributing factors to the recent decline foreclosure activity we’re seeing.”

 

Five counties account for largest share of state total in February

Five counties accounted for 67 percent of all properties with foreclosure filings in Indiana for February. Marion County led the state reporting with 2,191 properties with foreclosure filings for the month. Lake County was second, reporting 504 properties with foreclosure filings, followed by Allen County with 327 filings properties with foreclosure filings. St Joseph County came in fourth with 227 properties with foreclosure filings and Hamilton County was fifth, reporting 182 properties with foreclosure filings.

 

Highest foreclosure rate for the month posted in Marion County

With a rate of one in every 188 households receiving a foreclosure filing — 2.8 times the state average and three times the national average — Marion County reported the highest county foreclosure rate in the state for February. Second highest rate was reported by Blackford County with one in every 337 households receiving a foreclosure filing — 1.6 times the state average and 1.7 times the national average. Madison County came in third with one in every 370 households receiving a foreclosure filing — 1.4 times the state average and 1.5 times the national average. Howard County was fourth with a rate of one in every 374 households receiving a foreclosure filing — 1.4 times the state average and 1.5 times the national average. Henry County came in a close fifth with a rate of one in every 375 households receiving a foreclosure filing — also 1.4 times the state average and 1.5 times the national average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Indiana accounted for 2 percent of the 223,651 foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, and is 60 percent above the total reported for February 2007. 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 – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Indiana

0

26

2,214

1,589

1,318

5,147

529

1.05

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Allen

0

2

87

95

143

327

457

1.22

1.16

Bartholomew

0

0

22

0

0

22

1,407

0.40

0.38

Benton

0

0

0

1

0

1

3,886

0.14

0.14

Blackford

0

0

19

0

0

19

337

1.65

1.57

Boone

0

0

1

0

0

1

20,582

0.03

0.03

Brown

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

9

0

0

9

1,023

0.54

0.52

Cass

0

0

16

0

13

29

595

0.94

0.89

Clark

0

0

4

2

3

9

5,109

0.11

0.10

Clay

0

0

3

0

0

3

3,878

0.14

0.14

Clinton

0

0

2

0

0

2

6,810

0.08

0.08

Crawford

0

0

4

0

1

5

1,082

0.51

0.49

Daviess

0

0

1

0

1

2

6,137

0.09

0.09

De Kalb

0

0

1

0

0

1

17,137

0.03

0.03

Dearborn

0

0

16

0

0

16

1,222

0.46

0.43

Decatur

0

0

12

5

1

18

591

0.94

0.90

Delaware

0

0

30

2

1

33

1,596

0.35

0.33

Dubois

0

0

0

0

0

0

 n/a

0.00

0.00

Elkhart

0

0

106

41

17

164

462

1.20

1.15

Fayette

0

0

11

1

8

20

565

0.98

0.94

Floyd

0

1

24

0

1

26

1,190

0.47

0.44

Fountain

0

1

1

5

0

7

1,131

0.49

0.47

Franklin

0

0

0

0

0

0

 n/a

0.00

0.00

Fulton

0

0

7

2

0

9

1,055

0.53

0.50

Gibson

0

0

3

2

1

6

2,491

0.22

0.21

Grant

0

0

12

1

0

13

2,434

0.23

0.22

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Hamilton

0

1

1

67

113

182

503

1.11

1.05

Hancock

0

0

20

12

7

39

673

0.83

0.79

Harrison

0

0

1

0

0

1

14,748

0.04

0.04

Hendricks

0

0

2

2

0

4

12,793

0.04

0.04

Henry

0

0

42

14

1

57

375

1.48

1.41

Howard

0

2

7

52

44

105

374

1.49

1.42

Huntington

0

1

1

2

0

4

3,995

0.14

0.13

Jackson

0

0

1

0

0

1

18,117

0.03

0.03

Jasper

0

0

0

0

6

6

2,088

0.27

0.25

Jay

0

0

1

2

0

3

3,129

0.18

0.17

Jefferson

0

0

0

1

0

1

14,099

0.04

0.04

Jennings

0

0

0

1

0

1

12,556

0.04

0.04

Johnson

0

0

68

33

1

102

512

1.09

1.03

Knox

0

0

1

1

0

2

8,830

0.06

0.06

Kosciusko

0

0

22

0

3

25

1,398

0.40

0.38

La Porte

0

0

35

51

0

86

553

1.01

0.96

Lagrange

0

0

0

4

0

4

3,494

0.16

0.15

Lake

0

3

216

138

147

504

407

1.37

1.30

Lawrence

0

0

3

0

0

3

7,093

0.08

0.07

Madison

0

1

55

73

30

159

370

1.50

1.43

Marion

0

7

870

827

487

2,191

188

2.96

2.81

Marshall

0

0

9

12

9

30

637

0.87

0.83

Martin

0

0

0

0

0

0

 n/a

0.00

0.00

Miami

0

1

2

10

15

28

565

0.99

0.94

Monroe

0

0

0

4

9

13

4,277

0.13

0.12

Montgomery

0

0

0

0

10

10

1,644

0.34

0.32

Morgan

0

0

0

8

1

9

3,134

0.18

0.17

Newton

0

0

1

0

0

1

6,015

0.09

0.09

Noble

0

0

13

15

7

35

553

1.01

0.96

Ohio

0

0

1

0

0

1

2,631

0.21

0.20

Orange

0

0

9

0

1

10

873

0.64

0.61

Owen

0

0

0

1

0

1

10,264

0.05

0.05

Parke

0

0

5

0

1

6

1,301

0.43

0.41

Perry

0

0

3

0

0

3

2,819

0.20

0.19

Pike

0

1

1

0

0

2

2,996

0.19

0.18

Porter

0

0

36

2

23

61

1,038

0.54

0.51

Posey

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

2

0

10

12

1,179

0.47

0.45

Randolph

0

1

13

0

0

14

858

0.65

0.62

Ripley

0

0

0

0

0

0

 n/a

0.00

0.00

Rush

0

1

0

0

0

1

7,671

0.07

0.07

Scott

0

0

2

0

6

8

1,327

0.42

0.40

Shelby

0

0

3

0

1

4

4,619

0.12

0.11

Spencer

0

0

3

4

1

8

1,119

0.50

0.47

St Joseph

0

2

110

4

111

227

494

1.13

1.07

Starke

0

0

0

1

0

1

10,654

0.05

0.05

Steuben

0

0

8

0

2

10

1,884

0.30

0.28

Sullivan

0

0

1

0

0

1

9,173

0.06

0.06

Switzerland

0

0

0

0

0

0

 n/a

0.00

0.00

Tippecanoe

0

0

36

44

19

99

662

0.84

0.80

Tipton

0

0

3

0

10

13

544

1.02

0.97

Union

0

0

1

0

0

1

3,333

0.17

0.16

Vanderburgh

0

0

79

3

1

83

969

0.57

0.55

Vermillion

0

0

0

0

0

0

 n/a

0.00

0.00

Vigo

0

0

46

0

37

83

563

0.99

0.94

Wabash

0

0

1

10

0

11

1,311

0.42

0.40

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Warrick

0

0

17

7

7

31

741

0.75

0.71

Washington

0

0

19

0

4

23

516

1.08

1.02

Wayne

0

0

51

7

3

61

508

1.10

1.04

Wells

0

0

0

12

1

13

888

0.63

0.60

White

0

1

1

0

0

2

6,404

0.09

0.08

Whitley

0

0

1

8

0

9

1,516

0.37

0.35

               

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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