OHIO FORECLOSURE ACTIVITY INCREASES 34 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 138 Percent From August 2006; Foreclosure Rate in Nation’s Top 5

 

IRVINE, Calif. – Sept. 21, 2007 – Ohio reported 17,793 foreclosure filings in August, a 34 percent increase from the previous month and the third highest foreclosure total in the nation. The state total was also up 138 percent from August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. With one foreclosure filing for every 281 households — 1.8 times the national average — the state’s foreclosure rate ranked fifth highest in the nation.

 

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.

 

Ohio’s foreclosure activity has remained in the nation’s top five so far this year, with August being the highest it has been all year and more than double the activity reported a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “A number of factors are contributing to this trend, including an unemployment rate that is well above the national average, lackluster homes sales and a much lower rate of home price appreciation.”

 

California led the nation again in total foreclosure filings, reporting 40,000 more foreclosure filings than the Buckeye State. Second-ranked Florida far outdistanced Ohio by almost 16,000 filings. Fourth place Texas reported 800 fewer foreclosure filings than Ohio, while fifth place Michigan had 2,000 fewer filings than Ohio for the month. The remaining states in the nation’s top 10 for total foreclosure filings in August were Georgia, Arizona, Colorado, Illinois and Nevada.

 

Cuyahoga County tops in foreclosure total and rate in August

Cuyahoga County led the state in foreclosure total and foreclosure rate for August, reporting 5,191 foreclosure filings at a rate of one foreclosure filing for every 120 households — 2.4 times the state average and 4.3 times the national average.

 

Franklin County reported the second highest county total, with 2,608 foreclosure filings. Third highest total was in Summit County, which reported 1,550 foreclosure filings. Summit County also posted the state’s second highest foreclosure rate, one foreclosure filing for every 155 households — 1.8 times the state average and 3.3 times the national average.

 

The remaining counties with significant foreclosure totals include Montgomery County, reporting 1,444 foreclosure filings, and Lucas County, with 1,194 filings entering some stage of the foreclosure pipeline. Lucas County also posted the third highest foreclosure rate in the state, one foreclosure filing for every 170 households — 1.7 times the state average and three times the national average.

 

In all, the top five counties accounted for 67 percent of all foreclosure activity in the state for the month.

 

State a major contributor to national total

Ohio accounted for 7 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Ohio

0

67

6,578

4,868

6,280

17,793

281

1.81

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

1

0

0

1

12,092

0.04

0.02

Allen

0

0

1

65

4

70

645

0.79

0.44

Ashland

0

0

0

12

11

23

941

0.54

0.30

Ashtabula

0

1

80

1

52

134

339

1.50

0.83

Athens

0

0

0

7

15

22

1,147

0.45

0.25

Auglaize

0

0

14

0

10

24

801

0.64

0.35

Belmont

0

0

0

0

5

5

6,279

0.08

0.04

Brown

0

0

2

0

12

14

1,290

0.40

0.22

Butler

0

0

5

297

30

332

421

1.21

0.67

Carroll

0

0

1

0

1

2

6,551

0.08

0.04

Champaign

0

0

2

0

15

17

983

0.52

0.29

Clark

0

0

3

2

57

62

999

0.51

0.28

Clermont

0

0

129

25

90

244

314

1.62

0.90

Clinton

0

0

4

2

1

7

2,522

0.20

0.11

Columbiana

0

0

1

16

18

35

1,342

0.38

0.21

Coshocton

0

1

0

0

4

5

3,249

0.16

0.09

Crawford

0

0

0

16

1

17

1,203

0.42

0.23

Cuyahoga

0

30

1,436

1,478

2,247

5,191

120

4.27

2.35

Darke

0

0

0

0

20

20

1,109

0.46

0.25

Defiance

0

0

0

2

0

2

8,317

0.06

0.03

Delaware

0

0

2

30

24

56

1,018

0.50

0.28

Erie

0

0

1

2

1

4

9,271

0.06

0.03

Fairfield

0

0

48

38

33

119

459

1.11

0.61

Fayette

0

0

44

8

19

71

175

2.92

1.61

Franklin

0

7

1,332

539

730

2,608

197

2.60

1.43

Fulton

0

0

1

4

14

19

898

0.57

0.31

Geauga

0

0

4

17

5

26

1,344

0.38

0.21

Greene

0

0

99

73

122

294

217

2.36

1.30

Guernsey

0

0

0

2

1

3

6,513

0.08

0.04

Hamilton

0

5

527

170

166

868

441

1.16

0.64

Hancock

0

0

2

0

13

15

2,123

0.24

0.13

Hardin

0

1

15

0

23

39

337

1.51

0.83

Harrison

0

0

0

0

1

1

7,785

0.07

0.04

Henry

0

0

7

0

1

8

1,505

0.34

0.19

Highland

0

0

9

1

10

20

907

0.56

0.31

Hocking

0

0

1

0

1

2

6,213

0.08

0.05

Huron

0

1

3

1

1

6

4,081

0.13

0.07

Jackson

0

0

0

0

22

22

661

0.77

0.43

Jefferson

0

0

0

8

3

11

3,056

0.17

0.09

Knox

0

0

0

0

23

23

1,022

0.50

0.28

Lake

0

1

163

18

112

294

330

1.55

0.85

Lawrence

0

0

0

5

16

21

1,307

0.39

0.22

Licking

0

1

3

4

35

43

1,495

0.34

0.19

Logan

0

0

3

2

1

6

3,804

0.13

0.07

Lorain

0

2

257

232

121

612

196

2.60

1.43

Lucas

0

2

276

362

554

1,194

170

3.01

1.66

Madison

0

0

12

0

9

21

728

0.70

0.39

Mahoning

0

2

11

109

144

266

427

1.19

0.66

Marion

0

1

1

0

5

7

3,885

0.13

0.07

Medina

0

0

2

55

18

75

856

0.60

0.33

Mercer

0

0

0

1

6

7

2,372

0.22

0.12

Miami

0

2

1

1

4

8

5,226

0.10

0.05

Monroe

0

0

2

0

19

21

346

1.48

0.81

Montgomery

0

1

643

295

505

1,444

176

2.91

1.60

Morrow

0

1

0

0

7

8

1,610

0.32

0.17

Muskingum

0

1

1

26

28

56

635

0.80

0.44

Noble

0

0

0

0

2

2

2,813

0.18

0.10

Ottawa

0

0

4

2

14

20

1,332

0.38

0.21

Perry

0

0

0

1

1

2

7,030

0.07

0.04

Pickaway

0

0

2

13

16

31

633

0.81

0.44

Pike

0

0

0

0

7

7

1,745

0.29

0.16

Portage

0

0

105

25

22

152

422

1.21

0.67

Preble

0

0

1

0

1

2

8,958

0.06

0.03

Putnam

0

0

0

0

3

3

4,441

0.11

0.06

Richland

0

1

47

0

33

81

676

0.75

0.42

Ross

0

0

3

8

11

22

1,378

0.37

0.20

Sandusky

0

0

1

0

15

16

1,626

0.31

0.17

Scioto

0

0

0

13

0

13

2,678

0.19

0.11

Seneca

0

0

1

0

1

2

12,181

0.04

0.02

Shelby

0

0

4

0

3

7

2,802

0.18

0.10

Stark

0

3

384

274

134

795

204

2.50

1.38

Summit

0

3

660

471

416

1,550

155

3.29

1.81

Trumbull

0

0

17

87

70

174

556

0.92

0.51

Tuscarawas

0

0

1

0

17

18

2,159

0.24

0.13

Union

0

0

16

12

16

44

409

1.25

0.69

Van Wert

0

0

1

0

4

5

2,540

0.20

0.11

Warren

0

0

141

35

43

219

329

1.55

0.86

Washington

0

0

0

0

6

6

4,675

0.11

0.06

Wayne

0

0

17

0

27

44

1,026

0.50

0.27

Williams

0

0

14

0

0

14

1,202

0.42

0.23

Wood

0

0

9

1

1

11

4,620

0.11

0.06

Wyandot

0

0

1

0

27

28

344

1.48

0.82

 

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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