INDIANA FORECLOSURE ACTIVITY UP 50 PERCENT IN JANUARY

Activity Up 48 Percent From January 2007

 

IRVINE, Calif. – Feb. 26, 2008 – Indiana reported 5,552 foreclosure filings in January, a 50 percent increase from the previous month and up 48 percent from January 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 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’s employment rate has been declining over the past months,” said James J. Saccacio, chief executive officer of RealtyTrac. “The effects of this trend are apparent as the number of foreclosures within the state rises.”

 

Indiana ranked 12th in the country in total foreclosures reported for January. The state’s foreclosure rate of one foreclosure filing for every 491 households ranked 11th among the 50 states.

 

Marion County tops in foreclosure filings for January

Marion County led the state, reporting 2,230 foreclosure filings in January. Lake County came in second, reporting 519 foreclosure filings for the month. Allen County had the third highest total with 390 foreclosure filings, followed by Madison County in fourth place with 311 filings for the month. Fifth highest total was reported in Elkhart County with 236 filings entering some stage of the foreclosure pipeline.

 

Marion County posts highest foreclosure rates in January

Marion County posted the highest foreclosure rate in the state for January, one foreclosure filing for every 185 households — 2.7 times the state average and 2.9 times the national average. Madison County followed in second place with a rate of one foreclosure filing for every 189 households — 2.6 times the state average and 2.8 times the national average. Third highest rate was reported in Scott County, one foreclosure filing for every 312 households — 1.6 times the state average and 1.7 times the national average.

 

State a minor contributor to nation’s total in January

Total filings in Indiana accounted for 2 percent of the 223,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 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 – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

Indiana

0

0

1,979

1,797

1,776

5,552

491

1.09

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

1

0

1

12,935

0.04

0.04

Allen

0

0

172

107

111

390

383

1.40

1.28

Bartholomew

0

0

14

0

0

14

2,211

0.24

0.22

Benton

0

0

0

0

0

0

 

0.00

0.00

Blackford

0

0

12

0

1

13

492

1.09

1.00

Boone

0

0

0

1

8

9

2,287

0.23

0.21

Brown

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

0

0

0

0

 n/a

0.00

0.00

Cass

0

0

9

1

0

10

1,724

0.31

0.28

Clark

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Clinton

0

0

0

0

0

0

 n/a

0.00

0.00

Crawford

0

0

2

0

2

4

1,353

0.40

0.36

Daviess

0

0

0

0

0

0

 n/a

0.00

0.00

De Kalb

0

0

0

0

0

0

 n/a

0.00

0.00

Dearborn

0

0

18

0

0

18

1,086

0.49

0.45

Decatur

0

0

4

9

0

13

818

0.65

0.60

Delaware

0

0

50

0

0

50

1,054

0.51

0.47

Dubois

0

0

0

0

0

0

 n/a

0.00

0.00

Elkhart

0

0

113

74

49

236

321

1.66

1.53

Fayette

0

0

13

0

10

23

492

1.09

1.00

Floyd

0

0

9

1

0

10

3,093

0.17

0.16

Fountain

0

0

0

9

0

9

880

0.61

0.56

Franklin

0

0

0

0

0

0

 n/a

0.00

0.00

Fulton

0

0

0

0

0

0

 n/a

0.00

0.00

Gibson

0

0

0

3

3

6

2,491

0.21

0.20

Grant

0

0

10

21

0

31

1,021

0.52

0.48

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Hamilton

0

0

0

59

25

84

1,091

0.49

0.45

Hancock

0

0

31

29

24

84

312

1.71

1.57

Harrison

0

0

0

0

0

0

 n/a

0.00

0.00

Hendricks

0

0

0

0

0

0

 n/a

0.00

0.00

Henry

0

0

28

16

18

62

345

1.55

1.42

Howard

0

0

0

51

33

84

467

1.14

1.05

Huntington

0

0

2

0

0

2

7,989

0.07

0.06

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jasper

0

0

2

0

7

9

1,392

0.38

0.35

Jay

0

0

1

0

2

3

3,129

0.17

0.16

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

0

37

51

0

88

593

0.90

0.83

Knox

0

0

0

1

0

1

17,659

0.03

0.03

Kosciusko

0

0

12

1

23

36

971

0.55

0.51

La Porte

0

0

113

1

0

114

417

1.28

1.18

Lagrange

0

0

0

7

0

7

1,996

0.27

0.25

Lake

0

0

218

192

109

519

396

1.35

1.24

Lawrence

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

144

73

94

311

189

2.82

2.59

Marion

0

0

459

892

879

2,230

185

2.89

2.65

Marshall

0

0

0

13

0

13

1,469

0.36

0.33

Martin

0

0

0

0

0

0

 n/a

0.00

0.00

Miami

0

0

0

15

20

35

452

1.18

1.09

Monroe

0

0

16

3

25

44

1,264

0.42

0.39

Montgomery

0

0

0

0

18

18

913

0.59

0.54

Morgan

0

0

0

5

0

5

5,641

0.09

0.09

Newton

0

0

2

0

0

2

3,008

0.18

0.16

Noble

0

0

35

14

0

49

395

1.35

1.24

Ohio

0

0

0

0

0

0

 n/a

0.00

0.00

Orange

0

0

8

0

7

15

582

0.92

0.84

Owen

0

0

0

0

1

1

10,264

0.05

0.05

Parke

0

0

1

0

1

2

3,902

0.14

0.13

Perry

0

0

2

3

0

5

1,692

0.32

0.29

Pike

0

0

0

0

0

0

 n/a

0.00

0.00

Porter

0

0

19

1

16

36

1,760

0.30

0.28

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

0

0

3

3

4,716

0.11

0.10

Randolph

0

0

2

0

18

20

600

0.89

0.82

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

14

0

20

34

312

1.71

1.57

Shelby

0

0

1

0

19

20

924

0.58

0.53

Spencer

0

0

3

7

0

10

896

0.60

0.55

St Joseph

0

0

118

6

40

164

684

0.78

0.72

Starke

0

0

0

0

0

0

 n/a

0.00

0.00

Steuben

0

0

10

0

30

40

471

1.13

1.04

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

0

31

70

34

135

485

1.10

1.01

Tipton

0

0

3

0

5

8

883

0.60

0.56

Union

0

0

6

0

4

10

333

1.60

1.47

Vanderburgh

0

0

165

0

0

165

487

1.10

1.01

Vermillion

0

0

0

0

0

0

 n/a

0.00

0.00

Vigo

0

0

35

0

95

130

359

1.49

1.37

Wabash

0

0

0

14

0

14

1,030

0.52

0.48

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Warrick

0

0

3

3

13

19

1,209

0.44

0.41

Washington

0

0

6

0

9

15

792

0.67

0.62

Wayne

0

0

17

14

0

31

1,000

0.53

0.49

Wells

0

0

7

14

0

21

550

0.97

0.89

White

0

0

1

0

0

1

12,807

0.04

0.04

Whitley

0

0

1

15

0

16

853

0.63

0.58

 

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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