INDIANA FORECLOSURE ACTIVITY DOWN 1 PERCENT IN JUNE

IRVINE, Calif. – July 28, 2008 – Foreclosure filings were reported on 4,851 Indiana properties in June, a 1 percent decrease from the previous month, but still 18 percent above the level reported for June 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 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 Indiana remains elevated compared to this time last year, as is the case in many areas of the nation right now,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate is slowly edging up, although still below the national average. However, home price appreciation is also up slightly, which can at least partly account for the slight drop in foreclosure activity we saw in June.”

 

Indiana ranked 14th in the country in total properties with foreclosure filings for June. One in every 568 Indiana households received a foreclosure filing during the month, ranking ninth among the 50 states.

 

Marion County accounts for nearly half of state’s foreclosure activity for June

Marion County led the state, reporting 2,002 properties with foreclosure filings — 41 percent of the state total. Second highest total was in Lake County, reporting 517 properties with foreclosure filings. Allen County registered the third highest total, reporting 396 properties with foreclosure filings. St. Joseph County came in fourth, reporting 216 properties with foreclosure filings, followed by Elkhart County, which reported 176 properties with foreclosure filings for the month.

 

Highest foreclosure rate in the state posted in Marion County for June

With one in every 208 households receiving a foreclosure filing in June — 2.7 times the state average and 2.4 times the national average — Marion County posted the highest county foreclosure rate in the state for the month. Second highest rate was in Henry County, where one in every 286 households received a foreclosure filing — twice the state average and 1.8 times the national average. Blackford County had the third highest rate, with one in every 337 households receiving a foreclosure filing — 1.7 times the state average and 1.5 times the national average. Fourth highest rate was in Tipton County, where one in every 358 households received a foreclosure filing during the month. Madison County came in fifth place with a rate of one in every 370 households receiving a foreclosure filing in June.

 

State a minor contributor to nation’s foreclosure total in June

Indiana accounted for 2 percent of the 252,363 properties with foreclosure filings reported nationwide in June. The national total represents a decrease of more than 3 percent from the previous month but is still 53 percent ahead of the total reported for June 2007. One in every 501 U.S. households received a foreclosure filing during the month.

 

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 month — 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 month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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 – June 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

53,544

48,996

53,904

24,356

71,563

252,363

501

n/a

n/a

Indiana

0

1,434

29

1,925

1,463

4,851

568

0.88

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

13,061

0.04

0.04

Allen

0

107

2

148

139

396

382

1.31

1.49

Bartholomew

0

0

0

13

1

14

2,227

0.22

0.26

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Blackford

0

0

0

19

0

19

337

1.48

1.69

Boone

0

0

0

0

8

8

2,660

0.19

0.21

Brown

0

0

0

0

0

0

n/a

0.00

0.00

Carroll

0

0

1

12

0

13

715

0.70

0.79

Cass

0

0

0

2

5

7

2,465

0.20

0.23

CLARK

0

0

1

2

1

4

11,711

0.04

0.05

Clay

0

0

0

0

2

2

5,821

0.09

0.10

Clinton

0

0

0

0

3

3

4,546

0.11

0.12

Crawford

0

0

0

3

3

6

900

0.56

0.63

Daviess

0

0

0

0

0

0

n/a

0.00

0.00

De Kalb

0

0

0

0

2

2

8,639

0.06

0.07

Dearborn

0

0

0

10

1

11

1,801

0.28

0.32

Decatur

0

11

0

9

1

21

509

0.98

1.12

Delaware

0

30

2

2

50

84

629

0.80

0.90

Dubois

0

0

0

0

0

0

n/a

0.00

0.00

Elkhart

0

0

0

135

41

176

435

1.15

1.30

Fayette

0

3

0

9

9

21

538

0.93

1.06

Floyd

0

0

0

0

0

0

n/a

0.00

0.00

Fountain

0

6

0

0

0

6

1,319

0.38

0.43

Franklin

0

0

0

0

1

1

9,266

0.05

0.06

Fulton

0

7

0

9

1

17

561

0.89

1.01

Gibson

0

1

0

7

3

11

1,367

0.37

0.42

Grant

0

0

0

3

2

5

6,332

0.08

0.09

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Hamilton

0

76

1

4

86

167

573

0.87

0.99

Hancock

0

1

0

28

19

48

561

0.89

1.01

Harrison

0

0

0

0

0

0

n/a

0.00

0.00

Hendricks

0

0

0

1

2

3

17,810

0.03

0.03

Henry

0

16

1

57

1

75

286

1.75

1.98

Howard

0

0

1

3

3

7

5,625

0.09

0.10

Huntington

0

0

1

1

1

3

5,358

0.09

0.11

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jasper

0

0

0

0

9

9

1,416

0.35

0.40

Jay

0

0

0

1

0

1

9,394

0.05

0.06

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Jennings

0

0

0

0

0

0

n/a

0.00

0.00

Johnson

0

44

1

27

5

77

701

0.71

0.81

Knox

0

0

0

0

2

2

8,833

0.06

0.06

Kosciusko

0

0

0

18

0

18

1,968

0.25

0.29

La Porte

0

19

0

58

11

88

545

0.92

1.04

Lagrange

0

0

1

0

0

1

14,209

0.04

0.04

Lake

0

160

1

248

108

517

402

1.25

1.41

Lawrence

0

0

0

0

1

1

21,278

0.02

0.03

Madison

0

71

2

81

6

160

370

1.35

1.53

Marion

0

808

10

560

624

2,002

208

2.41

2.73

Marshall

0

28

0

12

6

46

418

1.20

1.36

Martin

0

0

0

0

0

0

n/a

0.00

0.00

Miami

0

3

0

0

11

14

1,131

0.44

0.50

Monroe

0

0

0

10

0

10

5,635

0.09

0.10

Montgomery

0

0

0

1

4

5

3,300

0.15

0.17

Morgan

0

0

0

1

2

3

9,485

0.05

0.06

Newton

0

0

0

0

0

0

n/a

0.00

0.00

Noble

0

12

0

15

1

28

699

0.72

0.81

Ohio

0

0

0

0

0

0

n/a

0.00

0.00

Orange

0

0

0

4

4

8

1,091

0.46

0.52

Owen

0

0

0

0

0

0

n/a

0.00

0.00

Parke

0

0

0

8

2

10

783

0.64

0.73

Perry

0

0

0

1

0

1

8,470

0.06

0.07

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Porter

0

0

0

0

42

42

1,539

0.33

0.37

Posey

0

0

0

0

0

0

n/a

0.00

0.00

Pulaski

0

0

0

0

1

1

6,234

0.08

0.09

Putnam

0

0

0

1

7

8

1,796

0.28

0.32

Randolph

0

0

0

11

8

19

632

0.79

0.90

Ripley

0

0

0

0

0

0

n/a

0.00

0.00

Rush

0

0

0

0

0

0

n/a

0.00

0.00

Scott

0

0

0

10

7

17

631

0.79

0.90

Shelby

0

0

0

0

33

33

567

0.88

1.00

Spencer

0

0

0

0

0

0

n/a

0.00

0.00

St Joseph

0

0

0

128

88

216

523

0.96

1.09

Starke

0

0

0

0

1

1

10,729

0.05

0.05

Steuben

0

0

0

13

0

13

1,468

0.34

0.39

Sullivan

0

0

0

0

0

0

n/a

0.00

0.00

Switzerland

0

0

0

0

0

0

n/a

0.00

0.00

Tippecanoe

0

10

0

28

26

64

1,036

0.48

0.55

Tipton

0

0

0

17

3

20

358

1.40

1.59

Union

0

0

0

0

0

0

n/a

0.00

0.00

Vanderburgh

0

0

1

81

4

86

943

0.53

0.60

Vermillion

0

0

0

0

1

1

7,600

0.07

0.07

Vigo

0

0

0

41

27

68

692

0.72

0.82

Wabash

0

11

0

1

0

12

1,203

0.42

0.47

Warren

0

0

0

0

0

0

n/a

0.00

0.00

Warrick

0

0

0

8

20

28

849

0.59

0.67

Washington

0

0

0

6

10

16

746

0.67

0.76

Wayne

0

0

3

43

2

48

648

0.77

0.88

Wells

0

10

0

14

0

24

484

1.03

1.17

White

0

0

0

0

0

0

n/a

0.00

0.00

Whitley

0

0

0

1

1

2

6,890

0.07

0.08

 

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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