OHIO FORECLOSURE ACTIVITY UP 1 PERCENT IN SEPTEMBER

Filings Statewide Decrease 27 Percent From September 2007; Rate Ranks in Top 10

 

IRVINE, Calif. – Oct. 27, 2008 – Ohio reported 11,470 properties with foreclosure filings in September, up 1 percent from the previous month but a 27 percent decline from the total reported in September 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 440 Ohio households received a foreclosure filing during the month, the seventh 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.

 

Ohio’s foreclosure activity has fluctuated within a narrow range so far this year, so this slight monthly uptick in September comes as no real surprise,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is up almost two percent this year to a level way above the national average. As in many states around the country right now, home sales are up but they are mostly foreclosed properties selling at greatly reduced prices. Home prices overall are still running negative on an annual basis. Taken together everything points to continued foreclosure activity in Ohio for the indefinite future.

 

Foreclosure activity in The Buckeye State was way below national leader California which reported 69,548 properties with foreclosure filings in September. The state’s activity was also much lower than second place Florida, which documented 47,956 properties with foreclosure filings for the month. Nevada posted the third highest level in the nation, reporting 13,022 properties with foreclosure filings. Arizona moved down one rank to fourth place, reporting 12,982 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in September were Michigan, Illinois, Georgia, Texas and New Jersey.

 

Cuyahoga County leads the pack in foreclosure activity for September

Cuyahoga County led Ohio in foreclosure activity in September, reporting 1,711 properties with foreclosure filings. Franklin County came in second highest, reporting 1,430 properties with foreclosure filings for the month. Hamilton County came in third, reporting 970 properties with foreclosure filings. Fourth highest was Lucas County, where 779 properties with foreclosure filings were reported. Summit County reported 599 properties with foreclosure filings, the fifth highest total in the state for the month.

 

Clark County posts top foreclosure rate in the state for September

Clark County posted the highest county foreclosure rate in Ohio for September, with one in every 247 households receiving a foreclosure filing — 1.8 times the state average and 1.9 times the national average. Marion County registered the second highest rate, where one in every 253 households received a foreclosure filing — 1.7 times the state average and 1.9 times the national average. Huron County recorded the third highest rate, with one in every 254 households receiving a foreclosure filing during the month.

 

State a major contributor to nation’s foreclosure total in September

Ohio accounted for 4 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 U.S. households receiving 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 – September 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

Ohio

0

4,008

60

3,343

4,059

11,470

440

1.08

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

2

1

4

0

7

1,724

0.28

0.26

Allen

0

29

0

51

23

103

440

1.08

1.00

Ashland

0

19

1

17

10

47

466

1.02

0.94

Ashtabula

0

33

0

42

85

160

285

1.67

1.54

Athens

0

8

0

0

9

17

1,482

0.32

0.30

Auglaize

0

1

0

25

14

40

484

0.98

0.91

Belmont

0

0

0

18

14

32

980

0.48

0.45

Brown

0

25

0

11

23

59

318

1.50

1.39

Butler

0

214

2

93

119

428

332

1.43

1.32

Carroll

0

0

0

0

1

1

13,081

0.04

0.03

Champaign

0

3

0

0

18

21

799

0.59

0.55

Clark

0

151

0

44

56

251

247

1.92

1.78

Clermont

0

88

0

47

54

189

410

1.16

1.07

Clinton

0

2

0

3

10

15

1,191

0.40

0.37

Columbiana

0

57

0

1

13

71

663

0.72

0.66

Coshocton

0

0

0

13

12

25

648

0.73

0.68

Crawford

0

1

0

23

30

54

382

1.24

1.15

Cuyahoga

0

703

15

409

584

1,711

363

1.31

1.21

Darke

0

0

0

23

5

28

796

0.60

0.55

Defiance

0

3

0

12

1

16

1,049

0.45

0.42

Delaware

0

90

3

55

50

198

304

1.56

1.45

Erie

0

3

0

1

37

41

913

0.52

0.48

Fairfield

0

49

1

45

51

146

381

1.25

1.16

Fayette

0

7

0

18

8

33

380

1.25

1.16

Franklin

0

397

6

612

415

1,430

363

1.31

1.21

Fulton

0

12

0

5

3

20

859

0.55

0.51

Gallia

0

0

0

0

0

0

n/a 

0.00

0.00

Geauga

0

0

0

24

25

49

719

0.66

0.61

Greene

0

20

0

48

31

99

656

0.72

0.67

Guernsey

0

1

1

9

0

11

1,779

0.27

0.25

Hamilton

0

253

2

313

402

970

396

1.20

1.11

Hancock

0

19

0

6

16

41

803

0.59

0.55

Hardin

0

1

0

3

2

6

2,192

0.22

0.20

Harrison

0

0

0

0

1

1

7,766

0.06

0.06

Henry

0

1

0

4

2

7

1,738

0.27

0.25

Highland

0

0

0

22

24

46

396

1.20

1.11

Hocking

0

2

1

3

2

8

1,569

0.30

0.28

Holmes

0

0

0

7

1

8

1,586

0.30

0.28

Huron

0

51

0

17

29

97

254

1.87

1.73

Jackson

0

0

0

0

18

18

811

0.59

0.54

Jefferson

0

0

0

44

2

46

729

0.65

0.60

Knox

0

16

0

0

0

16

1,489

0.32

0.30

Lake

0

131

1

35

69

236

415

1.15

1.06

Lawrence

0

10

0

0

10

20

1,371

0.35

0.32

Licking

0

79

0

44

26

149

439

1.08

1.00

Logan

0

0

0

23

27

50

459

1.03

0.96

Lorain

0

110

1

55

138

304

401

1.19

1.10

Lucas

0

188

6

202

383

779

260

1.82

1.69

Madison

0

3

0

9

6

18

856

0.55

0.51

Mahoning

0

86

0

11

17

114

999

0.48

0.44

Marion

0

47

1

28

32

108

253

1.87

1.74

Medina

0

39

0

69

3

111

589

0.81

0.75

Meigs

0

0

0

0

0

0

n/a 

0.00

0.00

Mercer

0

1

0

4

5

10

1,670

0.28

0.26

Miami

0

0

0

5

12

17

2,472

0.19

0.18

Monroe

0

0

0

0

0

0

n/a 

0.00

0.00

Montgomery

0

250

7

73

235

565

450

1.05

0.98

Morgan

0

0

0

0

0

0

n/a 

0.00

0.00

Morrow

0

1

0

7

10

18

723

0.66

0.61

Muskingum

0

38

1

54

35

128

278

1.71

1.58

Noble

0

0

0

0

0

0

n/a 

0.00

0.00

Ottawa

0

0

0

6

8

14

1,921

0.25

0.23

Paulding

0

0

0

4

9

13

677

0.70

0.65

Perry

0

3

0

3

7

13

1,087

0.44

0.40

Pickaway

0

27

0

0

7

34

580

0.82

0.76

Pike

0

0

0

8

3

11

1,121

0.42

0.39

Portage

0

85

1

52

33

171

379

1.25

1.16

Preble

0

0

0

14

0

14

1,282

0.37

0.34

Putnam

0

1

0

6

0

7

1,913

0.25

0.23

Richland

0

47

1

17

63

128

429

1.11

1.02

Ross

0

25

0

8

13

46

658

0.72

0.67

Sandusky

0

1

0

14

13

28

931

0.51

0.47

Scioto

0

17

0

12

6

35

994

0.48

0.44

Seneca

0

20

0

23

11

54

451

1.05

0.97

Shelby

0

0

0

13

22

35

567

0.84

0.78

Stark

0

140

2

62

122

326

503

0.94

0.87

Summit

0

140

2

141

316

599

404

1.18

1.09

Trumbull

0

76

1

71

55

203

477

0.99

0.92

Tuscarawas

0

14

0

26

9

49

795

0.60

0.55

Union

0

17

0

41

10

68

271

1.75

1.62

Van Wert

0

0

1

8

9

18

707

0.67

0.62

Vinton

0

1

0

2

0

3

1,908

0.25

0.23

Warren

0

56

0

51

76

183

406

1.17

1.08

Washington

0

1

0

0

4

5

5,605

0.08

0.08

Wayne

0

18

0

40

43

101

450

1.05

0.98

Williams

0

1

1

11

2

15

1,127

0.42

0.39

Wood

0

65

1

17

3

86

600

0.79

0.73

Wyandot

0

9

0

2

7

18

537

0.88

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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