OHIO FORECLOSURE ACTIVITY DOWN 1 PERCENT IN JANUARY

Foreclosure Filings Statewide Down 12 Percent From January 2008; Rate Ranks No. 10

 

IRVINE, Calif. – Feb. 27, 2009 – Foreclosure filings were reported on 11,199 Ohio properties in January, down 1 percent from the previous month, and 12 percent below the level reported for January 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 452 Ohio housing units received a foreclosure filing during the month, the 10th 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.

 

“Although foreclosures in Ohio decreased slightly in January and from this time last year, the state still remains among the nation’s top 10 in foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “With Ohio’s unemployment rate at 7.8 percent and expected to climb even higher, the Buckeye State is likely to see an increase in foreclosure activity in the months ahead.”

 

California started off the new year as it closed out 2008, leading the nation once again in total foreclosure activity for the month. As it did all of last year, Florida trailed California, ranking second highest in total foreclosure activity, reporting 40,770 properties with foreclosure filings. Arizona took third position for the second straight month, reporting 14,674 properties with foreclosure filings. Illinois came in a close fourth, documenting 14,447 properties with foreclosure filings, followed by Nevada which took fifth place by a narrow margin, reporting 14,444 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in January were Michigan, Ohio, Georgia, Texas and Virginia.

 

Five counties account for bulk of state activity in January

Five Ohio counties accounted for 50 percent of all foreclosure activity in the state during January. Cuyahoga County led the state in foreclosure activity for January, reporting 1,924 properties with foreclosure filings for the month. Franklin County was second highest, reporting 1,659 properties with foreclosure filings. Montgomery County came in third place, reporting 753 properties with foreclosure filings. Hamilton County came in fourth, documenting 643 properties with foreclosure filings. Summit County posted the fifth highest foreclosure activity, where 582 properties with foreclosure filings were reported.

 

Huron County posts state’s highest foreclosure rate for January

Huron County reported the highest foreclosure rate in Ohio for January, with one in every 261 housing units receiving a foreclosure filing — 1.7 times the state average and 1.8 times the national average. Licking County posted the state’s second highest foreclosure rate, with one in every 296 housing units received a foreclosure filing — 1.5 times the state average and 1.6 times the national average. Stark County documented the third highest foreclosure rate, where one in every 300 housing units received a foreclosure filing during the month — 1.5 times the state average and 1.6 times the national average.

 

State contributed 4 percent to nation’s foreclosure total in January

Ohio accounted for 4 percent of the 274,399 properties with foreclosure filings reported nationwide in January. The national total represented a decrease of more than 9 percent from the previous month but was still nearly 18 percent ahead of the total reported for January 2008. One in every 466 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.

 

               Ohio Foreclosure Market Data by County – January 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,681

52,435

80,986

27,520

66,777

274,399

466

n/a

n/a

Ohio

0

4,115

0

3,990

3,094

11,199

452

1.03

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

3

0

1

0

4

3,006

0.16

0.15

Allen

0

23

0

29

21

73

621

0.75

0.73

Ashland

0

13

0

14

9

36

611

0.76

0.74

Ashtabula

0

29

0

57

59

145

315

1.48

1.44

Athens

0

32

0

3

11

46

548

0.85

0.83

Auglaize

0

3

0

6

12

21

928

0.50

0.49

Belmont

0

0

0

14

7

21

1,492

0.31

0.30

Brown

0

20

0

19

5

44

438

1.06

1.03

Butler

0

124

0

134

125

383

375

1.24

1.21

Carroll

0

0

0

0

5

5

2,609

0.18

0.17

Champaign

0

0

0

1

14

15

1,123

0.42

0.40

Clark

0

36

0

31

35

102

609

0.77

0.74

Clermont

0

70

0

56

44

170

458

1.02

0.99

Clinton

0

2

0

16

14

32

562

0.83

0.80

Columbiana

0

36

0

12

15

63

744

0.63

0.61

Coshocton

0

0

0

12

10

22

734

0.63

0.62

Crawford

0

27

0

18

15

60

344

1.36

1.32

Cuyahoga

0

829

0

613

482

1,924

323

1.44

1.40

Darke

0

0

0

18

12

30

744

0.63

0.61

Defiance

0

0

0

10

12

22

768

0.61

0.59

Delaware

0

54

0

37

12

103

598

0.78

0.76

Erie

0

2

0

21

12

35

1,072

0.43

0.42

Fairfield

0

34

0

87

4

125

448

1.04

1.01

Fayette

0

7

0

4

16

27

470

0.99

0.96

Franklin

0

519

0

904

236

1,659

315

1.48

1.44

Fulton

0

1

0

10

8

19

906

0.51

0.50

Gallia

0

0

0

0

0

0

 n/a

0.00

0.00

Geauga

0

25

0

12

3

40

885

0.53

0.51

Greene

0

47

0

31

34

112

585

0.80

0.77

Guernsey

0

0

0

9

6

15

1,304

0.36

0.35

Hamilton

0

232

0

221

190

643

598

0.78

0.76

Hancock

0

32

0

4

12

48

703

0.66

0.64

Hardin

0

0

0

0

0

0

 n/a

0.00

0.00

Harrison

0

0

0

0

0

0

 n/a

0.00

0.00

Henry

0

0

0

9

5

14

874

0.53

0.52

Highland

0

0

0

13

23

36

508

0.92

0.89

Hocking

0

0

0

2

5

7

1,790

0.26

0.25

Holmes

0

2

0

7

9

18

703

0.66

0.64

Huron

0

41

0

16

38

95

261

1.78

1.73

Jackson

0

0

0

11

8

19

770

0.60

0.59

Jefferson

0

23

0

0

2

25

1,338

0.35

0.34

Knox

0

17

0

17

0

34

709

0.66

0.64

Lake

0

91

0

62

53

206

479

0.97

0.94

Lawrence

0

8

0

0

20

28

977

0.48

0.46

Licking

0

2

0

73

148

223

296

1.58

1.53

Logan

0

0

0

13

12

25

924

0.50

0.49

Lorain

0

102

0

97

15

214

574

0.81

0.79

Lucas

0

221

0

109

208

538

378

1.23

1.20

Madison

0

2

0

9

11

22

704

0.66

0.64

Mahoning

0

99

0

3

80

182

627

0.74

0.72

Marion

0

39

0

23

30

92

301

1.55

1.50

Medina

0

64

0

22

18

104

637

0.73

0.71

Meigs

0

0

0

0

1

1

10,830

0.04

0.04

Mercer

0

0

0

14

6

20

836

0.56

0.54

Miami

0

0

0

34

6

40

1,055

0.44

0.43

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

312

0

197

244

753

338

1.38

1.34

Morgan

0

1

0

0

0

1

8,039

0.06

0.06

Morrow

0

1

0

4

11

16

823

0.57

0.55

Muskingum

0

9

0

42

27

78

455

1.02

0.99

Noble

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

0

2

0

14

5

21

1,291

0.36

0.35

Paulding

0

0

0

4

1

5

1,763

0.26

0.26

Perry

0

1

0

9

2

12

1,181

0.39

0.38

Pickaway

0

10

0

5

14

29

682

0.68

0.66

Pike

0

1

0

0

2

3

4,121

0.11

0.11

Portage

0

52

0

39

20

111

587

0.79

0.77

Preble

0

0

0

17

14

31

581

0.80

0.78

Putnam

0

0

0

4

1

5

2,689

0.17

0.17

Richland

0

62

0

43

24

129

426

1.09

1.06

Ross

0

17

0

3

18

38

795

0.59

0.57

Sandusky

0

0

0

12

28

40

653

0.71

0.69

Scioto

0

17

0

12

9

38

914

0.51

0.49

Seneca

0

14

0

15

19

48

508

0.92

0.89

Shelby

0

0

0

21

2

23

870

0.54

0.52

Stark

0

187

0

186

176

549

300

1.56

1.51

Summit

0

277

0

178

127

582

417

1.12

1.08

Trumbull

0

95

0

118

64

277

350

1.33

1.29

Tuscarawas

0

15

0

12

12

39

999

0.47

0.45

Union

0

13

0

0

0

13

1,437

0.32

0.31

Van Wert

0

0

0

10

9

19

670

0.70

0.67

Vinton

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

34

0

30

36

100

759

0.61

0.60

Washington

0

0

0

0

5

5

5,594

0.08

0.08

Wayne

0

37

0

22

7

66

692

0.67

0.65

Williams

0

0

0

9

13

22

772

0.60

0.59

Wood

0

40

0

40

63

143

363

1.28

1.24

Wyandot

0

7

0

6

3

16

607

0.77

0.75

 

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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