OHIO FORECLOSURE ACTIVITY DOWN 26 PERCENT IN DECEMBER

Activity Up 64 Percent From December 2006; Foreclosure Rate Ranks No. 7

 

IRVINE, Calif. – Jan. 25, 2008 – Ohio reported 12,066 foreclosure filings in December, a 26 percent decrease from the previous month, but still a 64 percent increase from December 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state posted the seventh highest foreclosure rate in the nation — one foreclosure filing for every 415 households — 1.4 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.

 

“Although Ohio’s foreclosure activity decreased slightly in December, the state’s foreclosure crisis shows no sign of abating anytime soon,” said James J. Saccacio, chief executive officer of RealtyTrac. “Many Ohio homeowners took adjustable rate mortgages when the interest rates were low. Now, the payments are higher, and with gas and utility costs increasing people are losing their homes by the thousands to foreclosure.

 

Although the Buckeye State’s foreclosure activity level was the fourth highest in December, it was well behind national leader California which reported 53,292 foreclosure filings for the month. The state also trailed second place Florida which reported 31,219 foreclosure filings. Texas ranked third with 12,253 foreclosure filings. Michigan reported the fifth highest foreclosure total in the nation with 11,644 foreclosure filings for the month. The remaining states in the nation’s top 10 for total foreclosure filings in December were Nevada, Illinois, Georgia, Arizona and Colorado.

 

Cuyahoga County dominates in foreclosure total

Cuyahoga County reported the highest foreclosure total in the state for December with 2,541 foreclosure filings. Franklin County came in second highest with 1,801 foreclosure filings for the month. Summit County reported the third highest total with 1,286 foreclosure filings. Lucas County had the fourth highest foreclosure total, reporting 831 foreclosure filings followed by Montgomery County in fifth place with 819 filings entering some stage of the foreclosure process.

 

Summit County posts highest foreclosure rate in the state

Summit County tallied the state’s highest foreclosure rate for December, one foreclosure filing for every 187 households — 2.2 times the state average and 3.1 times the national average. Van Wert County posted the state’s second highest rate, one foreclosure filing for every 195 households — 2.1 times the state average and three times the national average. Stark County was third highest with a rate of one foreclosure filing for every 215 households, followed by Fayette County with a rate of one foreclosure filing for every 243 households.

 

State a major contributor to nation’s monthly total

Total foreclosure filings in Ohio accounted for 6 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per  Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Ohio

0

76

4,114

2,920

4,956

12,066

415

1.39

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Allen

0

0

1

1

1

3

15,039

0.04

0.03

Ashland

0

0

0

0

1

1

21,653

0.03

0.02

Ashtabula

0

0

8

1

38

47

967

0.60

0.43

Athens

0

0

0

0

25

25

1,009

0.57

0.41

Auglaize

0

0

4

0

7

11

1,748

0.33

0.24

Belmont

0

0

0

0

22

22

1,427

0.40

0.29

Brown

0

0

1

1

15

17

1,062

0.54

0.39

Butler

0

1

7

122

63

193

725

0.80

0.57

Carroll

0

1

0

1

2

4

3,276

0.18

0.13

Champaign

0

0

1

1

17

19

880

0.66

0.47

Clark

0

0

1

2

57

60

1,032

0.56

0.40

Clermont

0

0

68

34

57

159

482

1.20

0.86

Clinton

0

0

27

0

1

28

631

0.92

0.66

Columbiana

0

1

2

2

27

32

1,468

0.39

0.28

Coshocton

0

0

1

1

8

10

1,625

0.36

0.26

Crawford

0

0

0

1

0

1

20,445

0.03

0.02

Cuyahoga

0

18

481

915

1,127

2,541

244

2.36

1.70

Darke

0

0

0

0

1

1

22,181

0.03

0.02

Defiance

0

0

0

0

0

0

n/a

0.00

0.00

Delaware

0

0

2

26

31

59

966

0.60

0.43

Erie

0

2

4

2

0

8

4,635

0.12

0.09

Fairfield

0

1

41

39

58

139

393

1.47

1.06

Fayette

0

0

21

0

30

51

243

2.37

1.71

Franklin

0

8

946

300

547

1,801

285

2.03

1.46

Fulton

0

0

0

7

4

11

1,551

0.37

0.27

Gallia

0

1

0

0

0

1

13,477

0.04

0.03

Geauga

0

0

1

22

10

33

1,059

0.55

0.39

Greene

0

1

35

47

40

123

518

1.11

0.80

Guernsey

0

0

0

0

10

10

1,954

0.30

0.21

Hamilton

0

5

288

158

346

797

481

1.20

0.86

Hancock

0

0

0

1

30

31

1,027

0.56

0.40

Hardin

0

0

3

1

1

5

2,631

0.22

0.16

Harrison

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

0

0

0

1

1

12,040

0.05

0.03

Highland

0

0

11

0

23

34

533

1.08

0.78

Hocking

0

0

0

0

1

1

12,425

0.05

0.03

Holmes

0

0

0

0

0

0

n/a

0.00

0.00

Huron

0

2

1

0

0

3

8,161

0.07

0.05

Jackson

0

1

0

0

0

1

14,550

0.04

0.03

Jefferson

0

1

0

14

0

15

2,241

0.26

0.19

Knox

0

0

1

0

14

15

1,568

0.37

0.26

Lake

0

2

58

6

91

157

618

0.93

0.67

Lawrence

0

1

0

1

5

7

3,922

0.15

0.11

Licking

0

0

0

0

44

44

1,461

0.40

0.28

Logan

0

1

0

0

1

2

11,411

0.05

0.04

Lorain

0

3

87

3

262

355

338

1.71

1.23

Lucas

0

4

287

229

311

831

244

2.37

1.70

Madison

0

0

0

0

24

24

637

0.91

0.65

Mahoning

0

0

1

107

100

208

547

1.06

0.76

Marion

0

0

0

1

33

34

800

0.72

0.52

Medina

0

0

0

62

39

101

636

0.91

0.65

Meigs

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

1

0

2

3

5,535

0.10

0.07

Miami

0

1

0

1

3

5

8,361

0.07

0.05

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

5

317

151

346

819

309

1.86

1.34

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Morrow

0

0

1

0

1

2

6,439

0.09

0.06

Muskingum

0

0

0

73

26

99

359

1.61

1.16

Noble

0

0

0

0

0

0

n/a

0.00

0.00

Ottawa

0

0

25

0

0

25

1,065

0.54

0.39

Paulding

0

0

9

0

6

15

586

0.99

0.71

Perry

0

0

0

0

1

1

14,059

0.04

0.03

Pickaway

0

0

0

0

10

10

1,961

0.29

0.21

Pike

0

0

0

0

4

4

3,054

0.19

0.14

Portage

0

3

22

5

17

47

1,364

0.42

0.30

Preble

0

0

12

3

0

15

1,194

0.48

0.35

Putnam

0

0

0

0

0

0

n/a

0.00

0.00

Richland

0

0

60

32

34

126

435

1.33

0.95

Ross

0

0

10

1

28

39

777

0.74

0.53

Sandusky

0

0

0

0

1

1

26,019

0.02

0.02

Scioto

0

1

1

0

8

10

3,481

0.17

0.12

Seneca

0

1

3

0

1

5

4,872

0.12

0.09

Shelby

0

0

0

0

0

0

n/a

0.00

0.00

Stark

0

5

329

195

226

755

215

2.68

1.93

Summit

0

5

712

163

406

1,286

187

3.09

2.22

Trumbull

0

1

68

79

88

236

410

1.41

1.01

Tuscarawas

0

0

0

0

38

38

1,023

0.56

0.41

Union

0

0

3

52

11

66

273

2.11

1.52

Van Wert

0

0

0

0

65

65

195

2.95

2.12

Vinton

0

0

0

0

0

0

n/a

0.00

0.00

Warren

0

0

77

33

63

173

416

1.39

1.00

Washington

0

0

0

0

10

10

2,805

0.21

0.15

Wayne

0

0

20

23

35

78

579

1.00

0.72

Williams

0

0

10

0

0

10

1,683

0.34

0.25

Wood

0

0

45

0

1

46

1,105

0.52

0.38

Wyandot

0

0

0

1

0

1

9,637

0.06

0.04

 

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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