INDIANA FORECLOSURES INCREASE 12 PERCENT IN JULY

Activity Up 37 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – August 11, 2006 – Indiana reported 3,325 properties entering some stage of the foreclosure process in July, up 12 percent from the 2,972 properties reported in June, but still 37 percent above the 2,426 properties reported for the same month last year. Reporting one new filing for every 759 households, the state has the eighth highest foreclosure rate in the country, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“After two straight monthly declines, foreclosure activity was back on the rise in July giving Indiana the 10th highest monthly total in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Lower sales volume and price appreciation, along with higher interest rates, are most likely some of the contributing factors explaining why 1,001 mortgages defaulted this month, the fourth highest number of defaults in the nation.”

 

Indiana was also in the top 10 for the most properties that went to trustee’s sale for the month. The state’s foreclosure total was 159 foreclosures less than ninth place New York, and more than 9,000 foreclosures less than top-rated Texas. The rest of the top 10 in order from highest to lowest included Florida, California, Michigan, Ohio, Illinois, Georgia and Colorado.

 

Marion County activity responsible for bulk of state total

Activity in Marion County, reporting 1,982 properties entering some stage of the foreclosure process, accounted for 60 percent of all foreclosures in Indiana for July. The second highest total for the month was recorded in Allen County reporting 281 new foreclosure filings. Other notable foreclosure totals were reported in St. Joseph County with 210 properties, Vanderburgh County with 134 properties and Lake County with 118 properties in the foreclosure pipeline.

 

Marion County reports state’s highest foreclosure rate

In addition to having the state’s highest foreclosure total, Marion County also posted the state’s highest foreclosure rate for July, reporting one new foreclosure filing for every 195 households — 3.9 times the state average and 6.4 times the national average. Blackford County had the second highest rate in the state, reporting one new foreclosure filing for every 410 households — 1.8 times the state average and three times the national average. Allen County completed the top three, reporting one new foreclosure filing for every 494 households — 1.5 times the state average and 2.5 times the national average.

 

State activity has minor impact on national total

Indiana‘s foreclosures accounted for less than 4 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                         Indiana Foreclosure Market by County – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Indiana

1,001

1,475

0

0

849

3,325

759

1.64

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

12,404

0.10

0.06

Allen

55

132

0

0

94

281

494

2.52

1.54

Bartholomew

0

1

0

0

2

3

9,951

0.13

0.08

Benton

0

1

0

0

0

1

3,818

0.33

0.20

Blackford

0

15

0

0

0

15

410

3.04

1.85

Boone

2

1

0

0

1

4

4,482

0.28

0.17

Cass

1

2

0

0

1

4

4,155

0.30

0.18

Clark

1

2

0

0

1

4

10,294

0.12

0.07

Clay

0

5

0

0

1

6

1,850

0.67

0.41

Clinton

0

1

0

0

2

3

4,422

0.28

0.17

Daviess

0

0

0

0

2

2

5,949

0.21

0.13

De Kalb

0

1

0

0

0

1

16,144

0.08

0.05

Dearborn

1

23

0

0

0

24

741

1.68

1.02

Decatur

0

0

0

0

0

0

0.00

0.00

Delaware

2

23

0

0

1

26

1,963

0.63

0.39

Dubois

1

0

0

0

0

1

15,511

0.08

0.05

Elkhart

1

2

0

0

29

32

2,118

0.59

0.36

Fayette

0

3

0

0

0

3

3,660

0.34

0.21

Floyd

0

4

0

0

0

4

7,272

0.17

0.10

Fountain

0

2

0

0

0

2

3,846

0.32

0.20

Franklin

0

0

0

0

1

1

8,596

0.14

0.09

Fulton

2

0

0

0

0

2

4,562

0.27

0.17

Gibson

0

4

0

0

0

4

3,531

0.35

0.22

Grant

0

0

0

0

26

26

1,175

1.06

0.65

Greene

0

0

0

0

2

2

7,527

0.17

0.10

Hamilton

0

4

0

0

0

4

16,120

0.08

0.05

Hancock

0

0

0

0

1

1

21,750

0.06

0.03

Harrison

0

0

0

0

0

0

0.00

0.00

Hendricks

1

6

0

0

2

9

4,359

0.29

0.17

Henry

0

2

0

0

10

12

1,716

0.73

0.44

Howard

2

4

0

0

4

10

3,760

0.33

0.20

Huntington

0

1

0

0

2

3

5,090

0.24

0.15

Jackson

1

1

0

0

1

3

5,712

0.22

0.13

Jasper

1

0

0

0

2

3

3,745

0.33

0.20

Jay

0

0

0

0

1

1

9,074

0.14

0.08

Jefferson

0

0

0

0

0

0

0.00

0.00

Jennings

0

0

0

0

1

1

11,469

0.11

0.07

Johnson

0

4

0

0

1

5

9,019

0.14

0.08

Knox

0

0

0

0

3

3

5,768

0.22

0.13

Kosciusko

0

0

0

0

2

2

16,094

0.08

0.05

La Porte

1

3

0

0

9

13

3,509

0.35

0.22

Lagrange

0

1

0

0

1

2

6,469

0.19

0.12

Lake

6

9

0

0

103

118

1,652

0.75

0.46

Lawrence

0

2

0

0

2

4

5,140

0.24

0.15

Madison

1

30

0

0

10

41

1,389

0.90

0.55

Marion

851

656

0

0

475

1,982

195

6.38

3.89

Marshall

0

1

0

0

1

2

9,050

0.14

0.08

Miami

15

1

0

0

4

20

765

1.63

0.99

Monroe

0

0

0

0

1

1

50,846

0.02

0.01

Morgan

5

7

0

0

4

16

1,619

0.77

0.47

Newton

0

0

0

0

0

0

0.00

0.00

Noble

21

9

0

0

0

30

608

2.05

1.25

Ohio

0

0

0

0

0

0

0.00

0.00

Orange

0

1

0

0

0

1

8,348

0.15

0.09

Owen

0

0

0

0

0

0

0.00

0.00

Parke

0

1

0

0

0

1

7,539

0.17

0.10

Perry

2

3

0

0

2

7

1,175

1.06

0.65

Porter

1

0

0

0

0

1

57,616

0.02

0.01

Posey

0

1

0

0

0

1

11,076

0.11

0.07

Pulaski

0

0

0

0

1

1

5,918

0.21

0.13

Putnam

0

1

0

0

1

2

6,753

0.18

0.11

Randolph

0

1

0

0

7

8

1,472

0.85

0.52

Ripley

1

1

0

0

0

2

5,241

0.24

0.14

Rush

0

2

0

0

2

4

1,834

0.68

0.41

Scott

0

1

0

0

1

2

4,869

0.26

0.16

Shelby

0

2

0

0

6

8

2,204

0.57

0.34

Spencer

2

4

0

0

0

6

1,389

0.90

0.55

St Joseph

4

203

0

0

3

210

510

2.44

1.49

Starke

0

0

0

0

0

0

0.00

0.00

Steuben

1

0

0

0

1

2

8,669

0.14

0.09

Sullivan

0

1

0

0

1

2

4,402

0.28

0.17

Switzerland

0

0

0

0

0

0

0.00

0.00

Tippecanoe

1

36

0

0

3

40

1,459

0.85

0.52

Tipton

0

2

0

0

0

2

3,424

0.36

0.22

Vanderburgh

0

131

0

0

3

134

569

2.19

1.33

Vigo

0

55

0

0

4

59

766

1.63

0.99

Wabash

0

2

0

0

0

2

7,017

0.18

0.11

Warrick

16

13

0

0

0

29

708

1.76

1.07

Washington

0

1

0

0

1

2

5,596

0.22

0.14

Wayne

1

49

0

0

6

56

544

2.29

1.40

Wells

0

0

0

0

2

2

5,485

0.23

0.14

White

0

1

0

0

1

2

6,042

0.21

0.13

Whitley

1

0

0

0

0

1

12,545

0.10

0.06

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 construction properties, with more than 1 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. 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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