OHIO FORECLOSURE ACTIVITY DOWN 10 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 100 Percent From June 2006; Foreclosure Rate in Top 5

 

IRVINE, Calif. – July 31, 2007 – Ohio reported 11,879 foreclosure filings in June, a decrease of 10 percent from the previous month, but still leaving the state with the third highest foreclosure total in the country for the third consecutive month. Foreclosure activity remains high overall, up 100 percent from June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state also posted the sixth highest foreclosure rate in the nation, one foreclosure filing for every 403 households — 1.8 times the national average.

 

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.

 

“Even though foreclosure activity in Ohio has fluctuated by a narrow margin over the past three months, the number of foreclosure filings there have doubled on a yearly basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “Home sales have been increasing every month so far in 2007, but are still at a level below the same period last year. Plus, home prices remain on the decline. None of which is good news for homeowners trying to find their way out of foreclosure.”

 

Although substantial, the Buckeye State foreclosure total pales in comparison to national leader California, where 38,801 filings were reported in June. Florida posted the second highest foreclosure total, reporting 21,035 foreclosure filings. Michigan posted the fourth highest foreclosure total, reporting 10,092 foreclosure filings for the month. Texas reported a total of 8,525 filings in the foreclosure pipeline, ranking it fifth highest in the country. The remaining states in the nation’s top 10 for total foreclosures in June were Georgia, Illinois, Arizona, Colorado and New Jersey.

 

Four counties account for bulk of state foreclosure activity

Foreclosure filings in four Ohio counties accounted for 61 percent of all activity in the state for June. Leading all counties was Cuyahoga County, reporting 3,462 foreclosure filings for the month. Hamilton County tallied the second highest foreclosure total, with 1,494 foreclosure filings. Third highest total was reported in Franklin County with 1,157 foreclosure filings. Montgomery County registered the fourth highest county total with 1,103 filings in the foreclosure pipeline.

 

Highest foreclosure rate reported in Cuyahoga County

Cuyahoga County also posted the highest county foreclosure rate in Ohio for June, with one foreclosure filing for every 178 households — 2.3 times the state average and four times the national average. Montgomery County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 225 households — 1.8 times the state average and 3.1 times the national average. Hamilton County posted the third highest foreclosure rate, with one foreclosure filing for every 250 households — 1.6 times the state average and 2.8 times the national average. Fayette County posted the fourth highest county foreclosure rate, with one foreclosure filing for every 283 households. Clermont County rounded out the state’s top five with a rate of one foreclosure filing for every 293 households.

 

State a major contributor to nation’s monthly total

Total foreclosure filings in Ohio accounted for 7 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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.

 

 

                           Ohio Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Ohio

0

2,478

894

4,496

4,011

11,879

403

1.75

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

2

1

3

3,941

0.18

0.10

Allen

0

4

3

0

3

10

4,425

0.16

0.09

Ashland

0

0

1

5

7

13

1,602

0.44

0.25

Ashtabula

0

50

3

3

7

63

695

1.01

0.58

Athens

0

0

0

5

1

6

4,150

0.17

0.10

Auglaize

0

11

2

0

0

13

1,421

0.50

0.28

Belmont

0

0

1

0

10

11

2,840

0.25

0.14

Brown

0

1

1

2

7

11

1,563

0.45

0.26

Butler

0

2

8

267

25

302

430

1.64

0.94

Carroll

0

0

0

0

4

4

3,254

0.22

0.12

Champaign

0

0

3

1

4

8

1,986

0.35

0.20

Clark

0

0

8

3

55

66

925

0.76

0.44

Clermont

0

94

5

64

73

236

293

2.40

1.37

Clinton

0

2

1

2

1

6

2,763

0.25

0.15

Columbiana

0

1

4

25

8

38

1,213

0.58

0.33

Coshocton

0

0

0

2

9

11

1,464

0.48

0.27

Crawford

0

0

1

14

4

19

1,115

0.63

0.36

Cuyahoga

0

740

176

843

1,703

3,462

178

3.95

2.26

Darke

0

0

0

1

8

9

2,398

0.29

0.17

Defiance

0

0

1

0

3

4

4,010

0.18

0.10

Delaware

0

0

2

41

24

67

632

1.11

0.64

Erie

0

0

2

3

4

9

3,889

0.18

0.10

Fairfield

0

2

33

19

22

76

631

1.11

0.64

Fayette

0

23

1

13

5

42

283

2.48

1.42

Franklin

0

267

53

503

334

1,157

407

1.73

0.99

Fulton

0

4

0

21

11

36

451

1.56

0.89

Gallia

0

0

1

2

0

3

4,499

0.16

0.09

Geauga

0

0

3

27

6

36

911

0.77

0.44

Greene

0

26

8

48

40

122

477

1.48

0.84

Guernsey

0

0

2

1

0

3

6,257

0.11

0.06

Hamilton

0

334

130

848

182

1,494

250

2.82

1.61

Hancock

0

0

0

25

7

32

931

0.76

0.43

Hardin

0

4

2

2

12

20

645

1.09

0.62

Harrison

0

0

0

0

1

1

7,680

0.09

0.05

Henry

0

1

1

0

1

3

3,878

0.18

0.10

Highland

0

10

1

1

12

24

733

0.96

0.55

Hocking

0

0

2

1

2

5

2,428

0.29

0.17

Huron

0

0

1

4

1

6

3,932

0.18

0.10

Jackson

0

0

0

1

3

4

3,477

0.20

0.12

Jefferson

0

0

1

16

3

20

1,660

0.42

0.24

Knox

0

1

0

2

7

10

2,179

0.32

0.18

Lake

0

70

8

0

47

125

748

0.94

0.54

Lawrence

0

0

2

12

4

18

1,511

0.47

0.27

Licking

0

0

3

0

41

44

1,335

0.53

0.30

Logan

0

0

10

2

9

21

1,027

0.69

0.39

Lorain

0

1

12

81

71

165

675

1.04

0.60

Lucas

0

208

41

8

269

526

373

1.89

1.08

Madison

0

11

3

2

4

20

717

0.98

0.56

Mahoning

0

0

14

110

139

263

425

1.66

0.95

Marion

0

1

2

0

4

7

3,744

0.19

0.11

Medina

0

0

2

54

9

65

874

0.81

0.46

Mercer

0

0

0

0

7

7

2,268

0.31

0.18

Miami

0

0

2

0

3

5

8,111

0.09

0.05

Monroe

0

0

0

0

1

1

7,212

0.10

0.06

Montgomery

0

269

182

403

249

1,103

225

3.13

1.79

Morrow

0

0

0

0

4

4

3,033

0.23

0.13

Muskingum

0

1

3

24

17

45

781

0.90

0.52

Noble

0

0

0

0

0

0

n/a

0.00

0.00

Ottawa

0

20

1

0

4

25

1,021

0.69

0.39

Paulding

0

0

0

0

20

20

424

1.66

0.95

Perry

0

0

1

2

6

9

1,517

0.46

0.27

Pickaway

0

0

2

5

15

22

845

0.83

0.48

Portage

0

34

5

36

17

92

653

1.08

0.62

Preble

0

0

2

1

0

3

5,729

0.12

0.07

Richland

0

15

22

62

33

132

402

1.75

1.00

Ross

0

0

2

19

11

32

921

0.76

0.44

Sandusky

0

0

0

1

6

7

3,608

0.20

0.11

Scioto

0

0

2

29

2

33

1,032

0.68

0.39

Seneca

0

0

2

2

3

7

3,385

0.21

0.12

Shelby

0

4

0

0

3

7

2,669

0.26

0.15

Stark

0

82

21

146

153

402

391

1.80

1.03

Summit

0

55

47

469

152

723

319

2.20

1.26

Trumbull

0

0

9

93

56

158

602

1.17

0.67

Tuscarawas

0

0

2

12

18

32

1,191

0.59

0.34

Union

0

0

9

22

4

35

435

1.62

0.93

Van Wert

0

8

0

2

3

13

951

0.74

0.42

Warren

0

68

2

52

6

128

459

1.54

0.88

Washington

0

1

0

0

1

2

13,880

0.05

0.03

Wayne

0

40

5

20

8

73

580

1.21

0.69

Williams

0

6

5

0

0

11

1,467

0.48

0.27

Wood

0

7

10

0

2

19

2,498

0.28

0.16

Wyandot

0

0

0

10

0

10

932

0.76

0.43

 

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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