INDIANA FORECLOSURE ACTIVITY DOWN 6 PERCENT IN OCTOBER

Filings Statewide Increase 2 Percent From October 2007

 

IRVINE, Calif. – Nov. 26, 2008 – Foreclosure filings were reported on 5,404 Indiana properties in October, a decrease of 6 percent from the previous month, but still 2 percent above the level reported for October 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 filings decreased slightly in Indiana between September and October, though activity remains a bit higher than at this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Considering the condition of Indiana’s economy and with unemployment on the rise, these minor changes to the state’s foreclosure activity are likely welcome news to local homeowners. With many Indiana workers reporting income below the state’s 2001 recession levels, about one quarter of the state’s working population earns too little to meet the basic needs of a family of four.”

 

Indiana ranked 12th in the country in total properties with foreclosure filings for October. One in every 510 Indiana housing units received a foreclosure filing during the month, ranking 14th among the 50 states.

 

Marion County tops in foreclosure activity for October

Marion County led the state in terms of total properties with foreclosure activity for October, reporting 1,890 properties with foreclosure filings for the month. Lake County came in second highest, reporting 611 properties with foreclosure filings. Allen County ranked third highest, reporting 453 properties with foreclosure filings. Johnson County came in fourth place, documenting 232 properties with foreclosure filings.

 

Marion County post state’s top rate for October

With one in every 220 housing units receiving a foreclosure filing during the month — 2.3 times the state average and 2.1 times the national average — Marion County led the state in terms of foreclosure rate. Second highest rate was reported in Johnson County, where one in every 233 housing units received a foreclosure filing — 2.2 times the state average and 1.9 times the national average. Third highest rate was documented in Fayette County, where one in every 298 housing units received a foreclosure filing during the month — 1.7 times the state average and 1.5 times the national average.

 

State a moderate contributor to nation’s foreclosure total in October

Indiana accounted for 2 percent of the 279,561 properties with foreclosure filings reported nationwide in October. The national total represented an increase of more than 5 percent from the previous month and was almost 25 percent ahead of the total reported for October 2007. One in every 452 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 – October 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,036

66,033

66,319

26,305

84,868

279,561

452

n/a

n/a

Indiana

0

1,822

0

1,860

1,722

5,404

510

0.89

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Allen

0

176

0

100

177

453

334

1.35

1.53

Bartholomew

0

0

0

10

4

14

2,227

0.20

0.23

Benton

0

0

0

1

0

1

3,894

0.12

0.13

Blackford

0

1

0

6

0

7

915

0.49

0.56

Boone

0

0

0

12

13

25

851

0.53

0.60

Brown

0

0

0

1

0

1

7,860

0.06

0.06

Carroll

0

0

0

7

0

7

1,328

0.34

0.38

Cass

0

0

0

16

8

24

719

0.63

0.71

Clark

0

0

0

58

2

60

781

0.58

0.65

Clay

0

0

0

0

1

1

11,642

0.04

0.04

Clinton

0

0

0

1

0

1

13,638

0.03

0.04

Crawford

0

0

0

4

3

7

772

0.59

0.66

Daviess

0

0

0

0

0

0

 n/a

0.00

0.00

De Kalb

0

0

0

0

2

2

8,639

0.05

0.06

Dearborn

0

0

0

31

0

31

639

0.71

0.80

Decatur

0

6

0

5

1

12

891

0.51

0.57

Delaware

0

57

0

0

4

61

866

0.52

0.59

Dubois

0

9

0

0

0

9

1,861

0.24

0.27

Elkhart

0

35

0

38

68

141

544

0.83

0.94

Fayette

0

14

0

11

13

38

298

1.52

1.71

Floyd

0

0

0

2

2

4

7,803

0.06

0.07

Fountain

0

4

0

0

0

4

1,978

0.23

0.26

Franklin

0

4

0

1

1

6

1,544

0.29

0.33

Fulton

0

1

0

9

1

11

868

0.52

0.59

Gibson

0

4

0

0

7

11

1,367

0.33

0.37

Grant

0

2

0

0

0

2

15,830

0.03

0.03

Greene

0

0

0

1

1

2

7,905

0.06

0.06

Hamilton

0

38

0

110

52

200

478

0.94

1.07

Hancock

0

14

0

46

23

83

325

1.39

1.57

Harrison

0

0

0

0

1

1

14,890

0.03

0.03

Hendricks

0

1

0

1

7

9

5,937

0.08

0.09

Henry

0

0

0

38

4

42

511

0.88

1.00

Howard

0

60

0

4

5

69

571

0.79

0.89

Huntington

0

1

0

0

4

5

3,215

0.14

0.16

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jasper

0

0

0

1

1

2

6,373

0.07

0.08

Jay

0

0

0

1

0

1

9,394

0.05

0.05

Jefferson

0

0

0

2

0

2

7,097

0.06

0.07

Jennings

0

0

0

0

0

0

 n/a

0.00

0.00

Johnson

0

43

0

81

108

232

233

1.94

2.19

Knox

0

0

0

1

3

4

4,417

0.10

0.12

Kosciusko

0

26

0

16

1

43

824

0.55

0.62

La Porte

0

42

0

1

29

72

667

0.68

0.77

Lagrange

0

2

0

1

0

3

4,736

0.10

0.11

Lake

0

231

0

219

161

611

340

1.33

1.50

Lawrence

0

0

0

0

4

4

5,320

0.08

0.10

Madison

0

48

0

125

9

182

326

1.39

1.57

Marion

0

814

0

501

575

1,890

220

2.05

2.32

Marshall

0

15

0

13

10

38

506

0.89

1.01

Martin

0

0

0

0

0

0

 n/a

0.00

0.00

Miami

0

15

0

19

9

43

368

1.23

1.38

Monroe

0

0

0

0

1

1

56,353

0.01

0.01

Montgomery

0

29

0

0

6

35

471

0.96

1.08

Morgan

0

12

0

44

12

68

418

1.08

1.22

Newton

0

0

0

0

0

0

 n/a

0.00

0.00

Noble

0

12

0

16

3

31

631

0.72

0.81

Ohio

0

0

0

0

0

0

 n/a

0.00

0.00

Orange

0

0

0

2

7

9

970

0.47

0.53

Owen

0

0

0

1

3

4

2,598

0.17

0.20

Parke

0

0

0

7

2

9

869

0.52

0.59

Perry

0

0

0

0

1

1

8,470

0.05

0.06

Pike

0

0

0

0

0

0

 n/a

0.00

0.00

Porter

0

2

0

31

40

73

885

0.51

0.58

Posey

0

0

0

0

2

2

5,814

0.08

0.09

Pulaski

0

0

0

1

0

1

6,234

0.07

0.08

Putnam

0

1

0

2

5

8

1,796

0.25

0.28

Randolph

0

0

0

13

7

20

601

0.75

0.85

Ripley

0

1

0

7

2

10

1,170

0.39

0.44

Rush

0

1

0

0

3

4

1,923

0.23

0.27

Scott

0

0

0

14

12

26

413

1.09

1.24

Shelby

0

0

0

1

0

1

18,701

0.02

0.03

Spencer

0

0

0

0

1

1

9,029

0.05

0.06

St Joseph

0

5

0

71

126

202

560

0.81

0.91

Starke

0

0

0

0

2

2

5,365

0.08

0.10

Steuben

0

0

0

10

2

12

1,590

0.28

0.32

Sullivan

0

0

0

1

1

2

4,583

0.10

0.11

Switzerland

0

0

0

0

0

0

 n/a

0.00

0.00

Tippecanoe

0

41

0

49

54

144

460

0.98

1.11

Tipton

0

0

0

5

8

13

551

0.82

0.93

Union

0

1

0

0

1

2

1,675

0.27

0.30

Vanderburgh

0

3

0

15

37

55

1,474

0.31

0.35

Vermillion

0

0

0

0

0

0

 n/a

0.00

0.00

Vigo

0

21

0

24

45

90

523

0.86

0.98

Wabash

0

15

0

0

1

16

903

0.50

0.57

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Warrick

0

0

0

0

9

9

2,643

0.17

0.19

Washington

0

0

0

9

7

16

746

0.61

0.68

Wayne

0

0

0

27

6

33

942

0.48

0.54

Wells

0

12

0

13

0

25

465

0.97

1.10

White

0

0

0

1

1

2

6,428

0.07

0.08

Whitley

0

3

0

2

1

6

2,297

0.20

0.22

 

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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