OHIO FORECLOSURE ACTIVITY DECREASES 3 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 1 Percent From Q1 2008; Foreclosure Rate Ranks No. 11

Monthly Foreclosure Activity Up 12 percent in March, Up 12 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 31,595 Ohio properties in the first quarter of 2009, a 3 percent decrease from the previous quarter, and 1 percent ahead of the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 160 Ohio housing units received a foreclosure filing during the quarter, the 11th highest state foreclosure rate in the nation.

 

The Buckeye State reported 12,611 properties with foreclosure filings in March, a 12 percent increase from the previous month and 12 percent above its March 2008 total.

 

“Although Ohio foreclosures decreased slightly in the first quarter, they have been climbing steadily this year and still remain among the nation’s highest,” said James J. Saccacio, chief executive officer of RealtyTrac. “During the past year, the state lost nearly 230,000 jobs and its unemployment rate is still above the national average. This, in addition to slow home sales and falling home prices, is likely keeping Ohio among the top ten states.”

 

Ohio documented the seventh highest raw number of properties receiving foreclosure filings in the first quarter, its foreclosure rate — one in every 160 housing units received a foreclosure filing during the quarter — came in 11th among the 50 states.

 

Five counties largest contributors to state total for the quarter

Five Ohio counties accounted for 46 percent of the state’s overall foreclosure activity during the first quarter. Cuyahoga County came in first place, reporting 5,205 properties with foreclosure filings. Franklin County was second, reporting 4,322 properties with foreclosure filings for the quarter. Lucas County was a close third, reporting 1,875 properties with foreclosure filings. Montgomery County registered the fourth highest total, documenting 1,730 properties with foreclosure filings. Hamilton County registered the fifth highest foreclosure total, where 1,546 properties with foreclosure filings were reported.

 

Wyandotte County scores highest rates in the state for first quarter

Wyandotte County led the state, with one in every 78 housing units receiving a foreclosure filing — 2.1 times the state average and twice the national average. Huron County came in second, with one in every 87 housing units receiving a foreclosure filing — 1.8 times the state and national average. Licking County posted the third highest foreclosure rate, where one in every 96 housing units received a foreclosure filing during the month — 1.7 times the state and national average.

 

State the contributes 4 to nation’s foreclosure total for Q1 2009

Ohio accounted for 4 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

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 quarter — 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 quarter — which is extremely rare — only the most recent filing is counted in the report.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                              Ohio Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%? from Q4 08

%? from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16%

23.63%

Ohio

0

12,279

137

10,398

8,781

31,595

160

-3.14%

1.10%

 

 

 

 

 

 

 

 

 

 

Adams

0

6

1

4

15

26

462

333.33%

766.67%

Allen

0

83

0

89

58

230

197

-24.84%

36.09%

Ashland

0

53

0

40

18

111

198

0.91%

46.05%

Ashtabula

0

106

1

71

93

271

168

17.83%

25.46%

Athens

0

73

0

2

41

116

217

22.11%

364.00%

Auglaize

0

8

0

29

35

72

271

-13.25%

18.03%

Belmont

0

0

0

45

21

66

475

8.20%

-20.48%

Brown

0

60

0

54

54

168

115

21.74%

112.66%

Butler

0

305

4

364

596

1,269

113

4.96%

43.23%

Carroll

0

1

0

0

24

25

522

78.57%

108.33%

Champaign

0

2

0

29

43

74

228

37.04%

72.09%

Clark

0

304

1

114

87

506

123

-11.23%

19.91%

Clermont

0

256

0

129

107

492

158

-6.29%

-13.38%

Clinton

0

11

0

34

19

64

281

-7.25%

-13.51%

Columbiana

0

115

2

63

34

214

219

-6.55%

-8.55%

Coshocton

0

0

0

22

21

43

376

-15.69%

59.26%

Crawford

0

40

1

60

28

129

160

-11.03%

134.55%

Cuyahoga

0

2,111

20

1,738

1,336

5,205

119

-3.05%

-27.14%

Darke

0

0

1

41

30

72

310

30.91%

46.94%

Defiance

0

0

1

33

31

65

260

124.14%

96.97%

Delaware

0

196

0

151

60

407

151

1.75%

108.72%

Erie

0

37

2

44

39

122

308

-15.28%

-8.96%

Fairfield

0

105

1

99

96

301

186

1.69%

-29.84%

Fayette

0

39

2

41

19

101

126

7.45%

62.90%

Franklin

0

1,573

11

1,755

983

4,322

121

9.95%

-2.68%

Fulton

0

55

1

33

15

104

166

60.00%

126.09%

Gallia

0

0

1

0

0

1

13,337

-50.00%

0.00%

Geauga

0

28

1

28

10

67

529

-45.97%

-30.21%

Greene

0

152

0

73

68

293

224

6.93%

-5.79%

Guernsey

0

0

0

37

14

51

384

88.89%

Hamilton

0

461

10

629

446

1,546

249

-29.21%

-36.33%

Hancock

0

79

2

22

35

138

245

0.00%

-35.51%

Hardin

0

9

0

0

9

18

732

-73.13%

-71.88%

Harrison

0

0

0

0

1

1

7,737

0.00%

Henry

0

1

1

13

10

25

489

8.70%

66.67%

Highland

0

1

1

31

40

73

251

73.81%

-12.05%

Hocking

0

0

2

21

6

29

432

0.00%

Holmes

0

2

0

13

11

26

487

73.33%

Huron

0

99

1

76

109

285

87

34.43%

2275.00%

Jackson

0

0

0

19

17

36

407

16.13%

157.14%

Jefferson

0

56

3

0

1

60

558

-44.95%

20.00%

Knox

0

75

0

48

23

146

165

3.55%

-17.98%

Lake

0

270

3

176

140

589

168

9.68%

-3.76%

Lawrence

0

26

0

1

42

69

396

4.55%

305.88%

Licking

0

243

1

196

249

689

96

-1.29%

418.05%

Logan

0

5

1

35

39

80

289

23.08%

63.27%

Lorain

0

355

4

251

187

797

154

-12.51%

-23.44%

Lucas

0

968

9

317

581

1,875

108

-18.09%

8.51%

Madison

0

6

0

42

46

94

165

16.05%

42.42%

Mahoning

0

291

2

12

128

433

263

-23.90%

-17.21%

Marion

0

85

3

41

61

190

146

-24.00%

363.41%

Medina

0

227

0

118

40

385

172

-6.55%

406.58%

Meigs

0

0

1

0

1

2

5,415

-75.00%

Mercer

0

0

0

19

21

40

418

66.67%

-24.53%

Miami

0

0

2

93

81

176

240

15.79%

60.00%

Monroe

0

0

0

0

0

0

-100.00%

Montgomery

0

728

12

513

477

1,730

147

-7.98%

-23.52%

Morgan

0

1

0

0

0

1

8,039

-66.67%

Morrow

0

2

0

11

21

34

387

-10.53%

112.50%

Muskingum

0

79

1

94

57

231

154

-24.26%

124.27%

Noble

0

0

0

0

0

0

Ottawa

0

7

2

30

50

89

305

48.33%

169.70%

Paulding

0

0

0

14

7

21

420

-25.00%

-47.50%

Perry

0

10

1

30

8

49

289

-58.82%

75.00%

Pickaway

0

60

1

59

24

144

137

19.01%

213.04%

Pike

0

1

0

16

4

21

589

-38.24%

90.91%

Portage

0

172

1

86

68

327

199

-24.31%

-5.22%

Preble

0

2

0

44

47

93

194

63.16%

151.35%

Putnam

0

0

0

15

29

44

306

300.00%

633.33%

Richland

0

116

0

111

99

326

169

2.19%

-33.33%

Ross

0

53

1

27

39

120

252

20.00%

-18.37%

Sandusky

0

0

0

49

55

104

251

11.83%

593.33%

Scioto

0

62

0

35

29

126

276

43.18%

35.48%

Seneca

0

68

0

44

40

152

160

19.69%

913.33%

Shelby

0

0

0

38

39

77

260

79.07%

156.67%

Stark

0

489

7

648

330

1,474

112

20.33%

88.73%

Summit

0

564

8

424

327

1,323

184

-26.01%

-23.26%

Trumbull

0

255

3

294

213

765

127

26.45%

-3.65%

Tuscarawas

0

65

0

77

50

192

203

17.79%

108.70%

Union

0

46

0

30

8

84

222

12.00%

600.00%

Van Wert

0

0

0

12

13

25

510

-57.63%

-7.41%

Vinton

0

0

0

1

0

1

5,700

0.00%

Warren

0

263

1

134

144

542

140

14.35%

39.69%

Washington

0

0

1

1

5

7

3,996

-69.57%

0.00%

Wayne

0

99

0

55

24

178

257

-8.25%

33.83%

Williams

0

2

0

24

32

58

293

65.71%

107.14%

Wood

0

135

0

75

134

344

151

4.56%

391.43%

Wyandot

0

22

1

12

89

124

78

327.59%

 

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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