INDIANA FORECLOSURE ACTIVITY UP 9 PERCENT IN SEPTEMBER

Foreclosure Activity Increases 30 Percent From September 2007; Rate in Top 10

 

IRVINE, Calif. – Monday, Oct. 27, 2008 – Indiana reported 5,745 properties with foreclosure filings in September, a 9 percent increase from the previous month and 30 percent ahead of the level reported for September 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 480 Indiana households received a foreclosure filing during the month, the ninth highest state foreclosure rate in the nation.

 

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 was up both in September and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Factors contributing to this rise in activity include the state’s unemployment rate, which rose two percent during the past year and is now well above the national average, and the overall decline in the housing market.”

 

Indiana ranked 12th in the country in total foreclosure filings for the month.

 

Six counties dominate state’s foreclosure activity for September

Six Indiana counties accounted for 70 percent of all foreclosure activity in the state for September. Marion County led the way, reporting 1,962 properties with foreclosure filings for the month. Allen County documented the state’s second highest total, reporting 671 properties with foreclosure filings. Third highest was Lake County, reporting 569 properties with foreclosure filings. Madison County came in fourth place, documenting 329 properties with foreclosure filings. St. Joseph and John County ran fifth and sixth, reporting 259 and 258 properties with foreclosure filings respectively.

 

Madison County posts top foreclosure rate for September

With one in every 180 households receiving a foreclosure filing for the month — 2.7 times the state average and 2.6 times the national average — Madison County tallied the highest county foreclosure rate in the state in September. Johnson County posted the state’s second highest rate, with one in every 209 households receiving a foreclosure filing during the month — 2.3 times the state average and 2.3 times the national average. The third highest rate in the state was reported in Marion County, where one in every 212 households received a foreclosure filing in September — 2.3 times the state average and 2.2 times the national average.

 

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

Indiana accounted for 2 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 U.S. households receiving 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 – September 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

Indiana

0

1,606

29

2,294

1,816

5,745

480

0.99

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

13,061

0.04

0.04

Allen

0

231

1

228

211

671

225

2.11

2.13

Bartholomew

0

10

0

18

0

28

1,113

0.43

0.43

Benton

0

0

0

1

1

2

1,947

0.24

0.25

Blackford

0

0

0

0

16

16

400

1.19

1.20

Boone

0

1

0

25

10

36

591

0.80

0.81

Brown

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

0

7

0

7

1,328

0.36

0.36

Cass

0

0

0

18

11

29

595

0.80

0.81

Clark

0

3

0

13

1

17

2,756

0.17

0.17

Clay

0

0

1

1

2

4

2,911

0.16

0.16

Clinton

0

0

0

1

1

2

6,819

0.07

0.07

Crawford

0

0

0

0

0

0

 n/a

0.00

0.00

Daviess

0

1

0

0

0

1

12,271

0.04

0.04

De Kalb

0

0

0

1

1

2

8,639

0.05

0.06

Dearborn

0

0

0

1

3

4

4,954

0.10

0.10

Decatur

0

4

1

6

0

11

972

0.49

0.49

Delaware

0

19

1

2

9

31

1,704

0.28

0.28

Dubois

0

5

0

0

0

5

3,350

0.14

0.14

Elkhart

0

30

0

54

63

147

521

0.91

0.92

Fayette

0

4

0

11

0

15

754

0.63

0.64

Floyd

0

0

0

1

0

1

31,210

0.02

0.02

Fountain

0

5

0

0

1

6

1,319

0.36

0.36

Franklin

0

4

0

0

0

4

2,317

0.21

0.21

Fulton

0

7

0

0

2

9

1,060

0.45

0.45

Gibson

0

8

0

4

4

16

940

0.51

0.51

Grant

0

1

3

1

0

5

6,332

0.08

0.08

Greene

0

0

0

0

1

1

15,809

0.03

0.03

Hamilton

0

28

1

3

66

98

976

0.49

0.49

Hancock

0

10

0

26

32

68

396

1.20

1.21

Harrison

0

0

0

0

0

0

 n/a

0.00

0.00

Hendricks

0

1

0

1

0

2

26,715

0.02

0.02

Henry

0

0

0

17

57

74

290

1.64

1.65

Howard

0

22

1

89

4

116

339

1.40

1.41

Huntington

0

1

1

0

1

3

5,358

0.09

0.09

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jasper

0

0

0

0

1

1

12,746

0.04

0.04

Jay

0

1

0

1

0

2

4,697

0.10

0.10

Jefferson

0

0

0

0

0

0

 n/a

0.00

0.00

Jennings

0

0

0

0

1

1

12,638

0.04

0.04

Johnson

0

49

0

73

136

258

209

2.27

2.29

Knox

0

0

0

0

1

1

17,666

0.03

0.03

Kosciusko

0

15

0

23

19

57

621

0.76

0.77

La Porte

0

15

2

14

17

48

1,000

0.47

0.48

Lagrange

0

0

0

0

0

0

 n/a

0.00

0.00

Lake

0

190

3

261

115

569

365

1.30

1.31

Lawrence

0

0

2

0

0

2

10,639

0.04

0.05

Madison

0

80

1

86

162

329

180

2.64

2.66

Marion

0

716

5

808

433

1,962

212

2.24

2.26

Marshall

0

8

0

7

6

21

916

0.52

0.52

Martin

0

0

0

0

0

0

 n/a

0.00

0.00

Miami

0

11

0

17

6

34

466

1.02

1.03

Monroe

0

0

0

16

1

17

3,315

0.14

0.14

Montgomery

0

15

0

0

15

30

550

0.86

0.87

Morgan

0

8

0

23

7

38

749

0.63

0.64

Newton

0

0

0

4

0

4

1,511

0.31

0.32

Noble

0

18

0

16

1

35

559

0.85

0.86

Ohio

0

0

0

0

0

0

 n/a

0.00

0.00

Orange

0

0

0

2

5

7

1,247

0.38

0.38

Owen

0

1

0

3

0

4

2,598

0.18

0.18

Parke

0

0

0

0

0

0

 n/a

0.00

0.00

Perry

0

0

0

1

0

1

8,470

0.06

0.06

Pike

0

0

0

0

1

1

6,019

0.08

0.08

Porter

0

0

0

41

23

64

1,010

0.47

0.48

Posey

0

0

0

0

0

0

 n/a

0.00

0.00

Pulaski

0

0

0

2

0

2

3,117

0.15

0.15

Putnam

0

0

0

0

16

16

898

0.53

0.53

Randolph

0

1

0

17

5

23

522

0.91

0.92

Ripley

0

1

1

1

1

4

2,926

0.16

0.16

Rush

0

1

1

0

0

2

3,847

0.12

0.12

Scott

0

0

0

6

8

14

766

0.62

0.63

Shelby

0

0

1

0

20

21

891

0.53

0.54

Spencer

0

0

0

0

0

0

 n/a

0.00

0.00

St Joseph

0

9

0

168

82

259

436

1.09

1.10

Starke

0

0

0

0

0

0

 n/a

0.00

0.00

Steuben

0

0

0

8

9

17

1,122

0.42

0.43

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

31

1

44

35

111

597

0.80

0.80

Tipton

0

0

0

8

6

14

512

0.93

0.94

Union

0

0

0

0

0

0

 n/a

0.00

0.00

Vanderburgh

0

1

1

20

148

170

477

1.00

1.01

Vermillion

0

0

0

0

0

0

 n/a

0.00

0.00

Vigo

0

14

0

47

21

82

574

0.83

0.84

Wabash

0

10

1

2

1

14

1,031

0.46

0.47

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Warrick

0

0

0

0

11

11

2,162

0.22

0.22

Washington

0

0

0

5

5

10

1,194

0.40

0.40

Wayne

0

1

0

19

0

20

1,554

0.31

0.31

Wells

0

10

0

5

0

15

775

0.61

0.62

White

0

0

0

1

0

1

12,855

0.04

0.04

Whitley

0

5

0

16

0

21

656

0.72

0.73

 

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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