INDIANA FORECLOSURE ACTIVITY DOWN 3 PERCENT IN FEBRUARY

Activity Decreases 14 Percent From February 2008

 

IRVINE, Calif. – March 27, 2009 – Indiana reported 4,406 properties with foreclosure filings in February, a 3 percent decrease from the previous month and 14 percent below the level reported for February 2008, 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 decreased both in February and as compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, the state’s  unemployment rate remains high which could lead to additional foreclosure activity in the coming months.”

 

Indiana ranked 11th in the country in total properties with foreclosure filings for February. One in every 631 Indiana housing units received a foreclosure filing during the month, the 13th highest state foreclosure rate in the nation.

 

Top five counties account for bulk of state in foreclosure activity in February

Five Indiana counties accounted for 64 percent of all foreclosure activity in the state for February. Marion County led the way, reporting 1,640 properties with foreclosure filings for the month. Lake County was second highest, reporting 437 properties with foreclosure filings. Third highest was Allen County, reporting 374 properties with foreclosure filings. Hamilton County was in fourth place, documenting 197 properties with foreclosure filings. Fifth highest total was tallied in St. Joseph County, where 159 properties with foreclosure filings were reported.

 

Marion County post state’s top foreclosure rate for February

With one in every 255 housing units receiving a foreclosure filing — 2.5 times the state average and 1.7 times the national average — Marion County reported the highest county foreclosure rate in the state for February. Fayette County came in second, with one in every 365 housing units receiving a foreclosure filing — 1.7 times the state average and 1.2 times the national average. Third highest rate was documented in Johnson County, where one in every 380 housing units received a foreclosure filing during the month — 1.7 times the state average and 1.2 times the national average.

 

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

Indiana accounted for 2 percent of the 290,631 properties with foreclosure filings reported nationwide in February. The national total represented a 6 percent increase in activity from the previous month and was 30 percent ahead of the total reported for February 2008. One in every 440 U.S. housing units 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 – February 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

54,064

55,509

78,234

28,729

74,095

290,631

440

n/a

n/a

Indiana

0

1,386

3

1,603

1,414

4,406

631

0.70

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

2

3

4,378

0.10

0.14

Allen

0

156

0

110

108

374

407

1.08

1.55

Bartholomew

0

0

0

12

3

15

2,092

0.21

0.30

Benton

0

0

0

0

1

1

3,894

0.11

0.16

Blackford

0

1

0

0

7

8

800

0.55

0.79

Boone

0

1

0

22

6

29

750

0.59

0.84

Brown

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

0

1

1

2

4,681

0.09

0.13

Cass

0

0

0

6

2

8

2,155

0.20

0.29

Clark

0

0

0

34

4

38

1,249

0.35

0.50

Clay

0

1

0

1

2

4

2,912

0.15

0.22

Clinton

0

0

0

1

3

4

3,412

0.13

0.18

Crawford

0

0

0

3

4

7

768

0.57

0.82

Daviess

0

3

0

0

0

3

4,109

0.11

0.15

De Kalb

0

1

0

0

1

2

8,690

0.05

0.07

Dearborn

0

0

0

4

2

6

3,338

0.13

0.19

Decatur

0

9

0

9

1

19

569

0.77

1.11

Delaware

0

10

0

0

8

18

2,938

0.15

0.21

Dubois

0

5

0

0

1

6

2,799

0.16

0.23

Elkhart

0

49

0

57

44

150

516

0.85

1.22

Fayette

0

16

0

8

7

31

365

1.21

1.73

Floyd

0

0

0

0

2

2

15,734

0.03

0.04

Fountain

0

5

0

0

4

9

877

0.50

0.72

Franklin

0

3

0

0

0

3

3,107

0.14

0.20

Fulton

0

6

0

0

0

6

1,605

0.27

0.39

Gibson

0

13

0

3

7

23

657

0.67

0.96

Grant

0

0

0

0

7

7

4,521

0.10

0.14

Greene

0

0

0

0

1

1

15,743

0.03

0.04

Hamilton

0

75

0

97

25

197

504

0.87

1.25

Hancock

0

28

0

21

22

71

387

1.14

1.63

Harrison

0

0

0

0

2

2

7,496

0.06

0.08

Hendricks

0

0

0

1

2

3

18,241

0.02

0.03

Henry

0

3

0

41

3

47

457

0.96

1.38

Howard

0

49

0

1

14

64

615

0.72

1.02

Huntington

0

1

0

1

0

2

8,061

0.05

0.08

Jackson

0

0

0

0

1

1

18,343

0.02

0.03

Jasper

0

0

0

3

3

6

2,159

0.20

0.29

Jay

0

0

0

0

1

1

9,379

0.05

0.07

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

36

0

89

21

146

380

1.16

1.66

Knox

0

0

0

0

1

1

17,613

0.02

0.04

Kosciusko

0

18

0

21

22

61

587

0.75

1.07

La Porte

0

12

0

0

14

26

1,856

0.24

0.34

Lagrange

0

0

0

1

1

2

7,197

0.06

0.09

Lake

0

61

0

136

240

437

479

0.92

1.32

Lawrence

0

0

0

3

3

6

3,538

0.12

0.18

Madison

0

63

0

13

6

82

724

0.61

0.87

Marion

0

593

2

561

484

1,640

255

1.73

2.47

Marshall

0

15

0

13

0

28

690

0.64

0.91

Martin

0

0

0

0

0

0

 n/a

0.00

0.00

Miami

0

8

0

0

14

22

720

0.61

0.88

Monroe

0

0

0

40

2

42

1,354

0.33

0.47

Montgomery

0

15

0

2

8

25

662

0.67

0.95

Morgan

0

11

0

49

14

74

388

1.14

1.63

Newton

0

1

0

5

0

6

1,015

0.43

0.62

Noble

0

17

0

21

5

43

458

0.96

1.38

Ohio

0

0

0

0

0

0

 n/a

0.00

0.00

Orange

0

1

0

6

3

10

873

0.50

0.72

Owen

0

0

0

0

1

1

10,451

0.04

0.06

Parke

0

0

0

3

1

4

1,962

0.22

0.32

Perry

0

0

0

0

0

0

 n/a

0.00

0.00

Pike

0

0

0

0

0

0

 n/a

0.00

0.00

Porter

0

0

0

0

15

15

4,368

0.10

0.14

Posey

0

0

0

0

1

1

11,667

0.04

0.05

Pulaski

0

0

0

2

0

2

3,123

0.14

0.20

Putnam

0

0

0

0

12

12

1,203

0.37

0.52

Randolph

0

0

0

5

8

13

928

0.47

0.68

Ripley

0

1

0

11

1

13

913

0.48

0.69

Rush

0

0

0

1

0

1

7,708

0.06

0.08

Scott

0

0

0

7

4

11

985

0.45

0.64

Shelby

0

0

0

1

15

16

1,177

0.37

0.54

Spencer

0

0

0

0

0

0

 n/a

0.00

0.00

St Joseph

0

3

1

80

75

159

716

0.61

0.88

Starke

0

0

0

0

1

1

10,868

0.04

0.06

Steuben

0

0

0

11

1

12

1,602

0.27

0.39

Sullivan

0

0

0

0

1

1

9,147

0.05

0.07

Switzerland

0

0

0

0

0

0

 n/a

0.00

0.00

Tippecanoe

0

35

0

2

28

65

1,030

0.43

0.61

Tipton

0

0

0

4

4

8

903

0.49

0.70

Union

0

0

0

0

1

1

3,350

0.13

0.19

Vanderburgh

0

0

0

18

46

64

1,273

0.35

0.50

Vermillion

0

0

0

0

0

0

 n/a

0.00

0.00

Vigo

0

24

0

23

20

67

706

0.62

0.89

Wabash

0

17

0

0

1

18

802

0.55

0.79

Warren

0

0

0

0

1

1

3,846

0.11

0.16

Warrick

0

0

0

0

10

10

2,423

0.18

0.26

Washington

0

0

0

13

14

27

443

0.99

1.42

Wayne

0

0

0

17

9

26

1,195

0.37

0.53

Wells

0

13

0

5

0

18

647

0.68

0.97

White

0

0

0

1

3

4

3,221

0.14

0.20

Whitley

0

6

0

3

2

11

1,263

0.35

0.50

 

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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