OHIO FORECLOSURE ACTIVITY DOWN 6 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Activity Up 99 Percent From November 2006; Foreclosure Rate Ranks No. 3

 

IRVINE, Calif. – Dec. 19, 2007 – Ohio reported 16,308 foreclosure filings in November, the third highest total in the nation. Foreclosure activity declined 6 percent from the previous month, but was up 99 percent from November 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state posted the third highest foreclosure rate in the nation — one foreclosure filing for every 307 households — twice 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 November, the state has one of the nation’s highest foreclosure rates,” said James J. Saccacio, chief executive officer of RealtyTrac. “The mortgage crisis is significant in Ohio, and foreclosure activity could reach even new heights next year.

 

Although the Buckeye State’s foreclosure activity in November was the third highest in November, it was well behind national leader California, which reported 39,992 foreclosure filings for the month. The state also trailed second place Florida by more than 12,900 foreclosure filings. Texas and Michigan reported the fourth and fifth highest totals in the nation respectively, each with more than 11,000 foreclosure filings for the month. Georgia came in sixth highest with 8,968 filings entering the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in November were Illinois, Nevada, Colorado and New York.

 

Cuyahoga County dominates in foreclosure total

Cuyahoga County posted the highest foreclosure total in the state for November, with 3,938 foreclosure filings. Montgomery County posted the second highest foreclosure total, with 1,638 foreclosure filings for the month. Hamilton County reported the third highest foreclosure total, with 1,401 foreclosure filings. Franklin County had the fourth highest foreclosure total, reporting 1,310 foreclosure filings.

 

Montgomery County reports highest foreclosure rate

Montgomery County tallied the state’s highest foreclosure rate for November, one foreclosure filing for every 155 households — nearly twice the state average and nearly four times the national average. Cuyahoga County posted the state’s second highest foreclosure rate, with one foreclosure filing for every 158 households — 1.9 times the state average and 3.9 times the national average. Lucas County registered the third highest foreclosure rate in the state, one foreclosure filing for every 163 households, followed by Stark County with one foreclosure filing for every 169 households.

 

State contributes to nation’s monthly total

Total foreclosure filings in Ohio accounted for 2 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represented a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per  Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Ohio

0

67

5,192

4,271

6,778

16,308

307

2.00

n/a

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

1

2

6,046

0.10

0.05

Allen

0

0

2

34

8

44

1,025

0.60

0.29

Ashland

0

0

0

8

6

14

1,547

0.39

0.19

Ashtabula

0

5

45

1

86

137

332

1.85

0.92

Athens

0

1

0

14

7

22

1,147

0.53

0.26

Auglaize

0

1

4

1

4

10

1,923

0.32

0.16

Belmont

0

0

0

0

2

2

15,697

0.03

0.02

Brown

0

0

20

0

13

33

547

1.12

0.56

Butler

0

3

5

171

276

455

307

2.00

0.99

Carroll

0

0

2

0

11

13

1,008

0.61

0.30

Champaign

0

0

0

2

3

5

3,343

0.18

0.09

Clark

0

0

1

5

70

76

815

0.75

0.37

Clermont

0

1

87

7

74

169

454

1.35

0.67

Clinton

0

0

2

0

2

4

4,414

0.13

0.07

Columbiana

0

0

1

26

22

49

959

0.64

0.32

Coshocton

0

0

0

0

8

8

2,031

0.30

0.15

Crawford

0

0

0

14

0

14

1,460

0.42

0.21

Cuyahoga

0

16

1,426

1,216

1,280

3,938

158

3.91

1.94

Darke

0

0

16

0

18

34

652

0.94

0.47

Defiance

0

0

19

0

0

19

875

0.70

0.35

Delaware

0

0

2

2

42

46

1,239

0.49

0.24

Erie

0

0

41

6

3

50

742

0.83

0.41

Fairfield

0

1

93

28

31

153

357

1.72

0.86

Fayette

0

0

1

0

1

2

6,202

0.09

0.05

Franklin

0

3

340

479

488

1,310

391

1.57

0.78

Fulton

0

0

7

0

3

10

1,706

0.36

0.18

Gallia

0

0

0

0

0

0

n/a

0.00

0.00

Geauga

0

0

18

29

23

70

499

1.23

0.61

Greene

0

1

34

22

73

130

490

1.25

0.62

Guernsey

0

0

0

0

17

17

1,149

0.53

0.26

Hamilton

0

8

703

248

442

1,401

273

2.25

1.12

Hancock

0

0

13

0

3

16

1,990

0.30

0.15

Hardin

0

2

15

0

48

65

202

3.04

1.51

Harrison

0

0

1

0

0

1

7,785

0.07

0.03

Henry

0

0

6

0

1

7

1,720

0.35

0.17

Highland

0

0

11

2

15

28

648

0.95

0.47

Hocking

0

1

1

0

2

4

3,106

0.19

0.09

Holmes

0

0

0

0

0

0

n/a

0.00

0.00

Huron

0

0

1

0

0

1

24,484

0.02

0.01

Jackson

0

0

0

1

15

16

909

0.67

0.33

Jefferson

0

1

0

15

0

16

2,101

0.29

0.14

Knox

0

0

0

0

12

12

1,960

0.31

0.15

Lake

0

0

74

53

94

221

439

1.40

0.69

Lawrence

0

0

0

2

3

5

5,490

0.11

0.05

Licking

0

0

2

1

50

53

1,213

0.50

0.25

Logan

0

1

1

1

12

15

1,521

0.40

0.20

Lorain

0

1

203

300

204

708

170

3.63

1.81

Lucas

0

5

255

402

577

1,239

163

3.77

1.87

Madison

0

0

12

0

3

15

1,020

0.60

0.30

Mahoning

0

1

5

116

86

208

547

1.12

0.56

Marion

0

0

2

1

33

36

755

0.81

0.40

Medina

0

0

2

0

49

51

1,259

0.48

0.24

Meigs

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

6

1

5

12

1,384

0.44

0.22

Miami

0

1

60

1

4

66

633

0.97

0.48

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

2

612

295

729

1,638

155

3.98

1.98

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Morrow

0

0

0

0

10

10

1,288

0.47

0.23

Muskingum

0

0

1

1

14

16

2,223

0.27

0.13

Noble

0

0

0

0

0

0

n/a

0.00

0.00

Ottawa

0

0

4

1

1

6

4,439

0.13

0.06

Paulding

0

0

13

0

1

14

628

0.98

0.48

Perry

0

1

0

0

0

1

14,059

0.04

0.02

Pickaway

0

0

1

13

32

46

426

1.44

0.72

Pike

0

0

0

0

9

9

1,357

0.45

0.22

Portage

0

0

73

30

63

166

386

1.59

0.79

Preble

0

0

41

0

0

41

437

1.41

0.70

Putnam

0

0

0

0

0

0

n/a

0.00

0.00

Richland

0

1

42

75

107

225

243

2.53

1.26

Ross

0

0

5

24

69

98

309

1.99

0.99

Sandusky

0

0

2

2

28

32

813

0.75

0.37

Scioto

0

1

0

30

0

31

1,123

0.54

0.27

Seneca

0

1

2

0

0

3

8,121

0.07

0.03

Shelby

0

0

3

0

13

16

1,226

0.50

0.25

Stark

0

1

330

174

456

961

169

3.65

1.81

Summit

0

3

306

175

582

1,066

225

2.73

1.36

Trumbull

0

2

75

88

156

321

301

2.04

1.01

Tuscarawas

0

0

2

0

13

15

2,591

0.23

0.11

Union

0

0

1

0

18

19

948

0.65

0.32

Van Wert

0

0

1

1

8

10

1,270

0.48

0.24

Vinton

0

0

0

0

0

0

n/a

0.00

0.00

Warren

0

1

82

124

153

360

200

3.08

1.53

Washington

0

0

0

2

2

4

7,012

0.08

0.04

Wayne

0

0

18

25

26

69

654

0.94

0.46

Williams

0

0

9

0

0

9

1,870

0.32

0.16

Wood

0

0

30

2

57

89

571

1.07

0.53

Wyandot

0

0

0

0

1

1

9,637

0.06

0.03

 

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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