OHIO FORECLOSURE ACTIVITY UP 10 PERCENT IN OCTOBER ACCORDING

 

Activity Up 136 Percent From October 2006; Foreclosure Rate Ranks No. 4

 

IRVINE, Calif. – Nov. 26, 2007 – Ohio reported 17,276 foreclosure filings in October, the third highest foreclosure total in the nation. Total foreclosure activity in the state rose 10 percent from September and was 136 percent above the total filings reported for October 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 290 households was 1.9 times the national average and ranked fourth highest among the 50 states.

 

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.

 

“Total foreclosure filings in Ohio were at their second highest level for the year so far in October, and were more than double the total reported for the same month last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Through the first three quarters of 2007, home sales and home prices are down in Ohio while unemployment is significantly above the national average. These factors are helping maintain the high levels of foreclosure activity in the state, which has documented the third highest foreclosure filings total in six out of the 10 months so far this year.

 

Although ranked third in the country for October, foreclosure activity in the Buckeye State lagged far behind national leader California by more than 33,000 foreclosure filings. Second ranked Florida totaled nearly 13,000 more foreclosure filings than Ohio, while fourth place Michigan tallied almost 4,000 fewer filings for the month. Fifth place Texas had almost 5,000 fewer filings entering some stage of the foreclosure pipeline for the month. The remaining states in the nation’s top 10 for total foreclosure filings in October were Georgia, Illinois, Nevada, New York and Arizona.

 

Cuyahoga County leads state in foreclosure filings and rate for month

Cuyahoga County led all Ohio counties, both in terms of total foreclosure filings and foreclosure rate in October. Foreclosure filings in Cuyahoga County for the month totaled 4,596 filings, a rate of one foreclosure filing for every 135 households — 2.1 times the state average and 4.1 times the national average.

 

Lorain County had the second highest foreclosure rate, one foreclosure filing for every 160 households — 1.8 times the state average and 3.5 times the national average. Summit County had the third highest foreclosure rate in the state, one foreclosure filing for every 189 households — 1.5 times the state average and 2.9 times the national average.

 

Franklin County tallied the second highest foreclosure total for the month, with 1,887 foreclosure filings. Third highest foreclosure total was reported by Hamilton County, with 1,442 foreclosure filings.

 

Total foreclosure filings in the three top counties accounted for 46 percent of all filings entering some stage of the foreclosure pipeline in the state for the month.

 

State a significant contributor to nation’s total for the month

Total filings in Ohio accounted for nearly 8 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Ohio

0

124

5,549

3,737

7,866

17,276

290

1.91

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

2

1

2

5

2,418

0.23

0.12

Allen

0

0

1

24

31

56

806

0.69

0.36

Ashland

0

1

1

19

17

38

570

0.97

0.51

Ashtabula

0

0

50

0

137

187

243

2.28

1.19

Athens

0

0

1

7

5

13

1,940

0.29

0.15

Auglaize

0

0

9

0

29

38

506

1.10

0.57

Belmont

0

0

0

0

3

3

10,464

0.05

0.03

Brown

0

0

23

0

23

46

393

1.41

0.74

Butler

0

2

4

75

250

331

422

1.31

0.69

Carroll

0

0

0

0

5

5

2,620

0.21

0.11

Champaign

0

0

1

1

12

14

1,194

0.46

0.24

Clark

0

0

3

3

146

152

407

1.36

0.71

Clermont

0

0

102

21

105

228

336

1.65

0.86

Clinton

0

1

34

1

1

37

477

1.16

0.61

Columbiana

0

0

3

26

23

52

904

0.61

0.32

Coshocton

0

1

0

0

5

6

2,708

0.20

0.11

Crawford

0

0

2

13

38

53

386

1.44

0.75

Cuyahoga

0

80

1,652

845

2,019

4,596

135

4.11

2.15

Darke

0

0

6

0

17

23

964

0.58

0.30

Defiance

0

0

11

0

2

13

1,280

0.43

0.23

Delaware

0

0

13

33

51

97

588

0.94

0.49

Erie

0

0

25

9

4

38

976

0.57

0.30

Fairfield

0

0

1

38

86

125

437

1.27

0.66

Fayette

0

1

1

0

27

29

428

1.30

0.68

Franklin

0

2

777

549

559

1,887

272

2.04

1.07

Fulton

0

0

3

10

15

28

609

0.91

0.48

Gallia

0

0

1

0

0

1

13,477

0.04

0.02

Geauga

0

0

17

18

20

55

635

0.87

0.46

Greene

0

0

4

53

70

127

502

1.11

0.58

Guernsey

0

0

0

0

24

24

814

0.68

0.36

Hamilton

0

3

452

252

735

1,442

266

2.09

1.09

Hancock

0

1

28

12

81

122

261

2.13

1.11

Hardin

0

0

3

0

7

10

1,315

0.42

0.22

Harrison

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

0

8

0

0

8

1,505

0.37

0.19

Highland

0

0

12

1

32

45

403

1.38

0.72

Hocking

0

0

0

0

0

0

 n/a

0.00

0.00

Holmes

0

0

0

1

0

1

12,574

0.04

0.02

Huron

0

0

7

0

1

8

3,061

0.18

0.09

Jackson

0

0

0

0

13

13

1,119

0.50

0.26

Jefferson

0

2

0

12

0

14

2,401

0.23

0.12

Knox

0

0

18

0

18

36

653

0.85

0.44

Lake

0

0

49

36

105

190

511

1.09

0.57

Lawrence

0

0

0

0

2

2

13,726

0.04

0.02

Licking

0

0

1

0

46

47

1,368

0.41

0.21

Logan

0

0

0

1

37

38

601

0.92

0.48

Lorain

0

5

234

258

254

751

160

3.47

1.81

Lucas

0

3

281

166

612

1,062

191

2.91

1.52

Madison

0

0

23

1

9

33

464

1.20

0.63

Mahoning

0

3

6

100

159

268

424

1.31

0.68

Marion

0

1

0

1

59

61

446

1.24

0.65

Medina

0

0

1

49

78

128

502

1.11

0.58

Meigs

0

0

0

0

0

0

 n/a

0.00

0.00

Mercer

0

0

15

1

13

29

573

0.97

0.51

Miami

0

1

25

0

2

28

1,493

0.37

0.19

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

4

254

361

559

1,178

215

2.58

1.35

Morgan

0

0

0

0

0

0

 n/a

0.00

0.00

Morrow

0

0

0

0

2

2

6,439

0.09

0.05

Muskingum

0

0

2

37

25

64

556

1.00

0.52

Noble

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

0

0

20

1

1

22

1,211

0.46

0.24

Paulding

0

0

0

1

2

3

2,928

0.19

0.10

Perry

0

0

2

0

0

2

7,030

0.08

0.04

Pickaway

0

0

2

24

30

56

350

1.58

0.83

Pike

0

0

0

1

4

5

2,443

0.23

0.12

Portage

0

0

46

20

87

153

419

1.32

0.69

Preble

0

0

1

0

1

2

8,958

0.06

0.03

Putnam

0

0

0

0

1

1

13,323

0.04

0.02

Richland

0

2

43

47

48

140

391

1.42

0.74

Ross

0

0

1

21

10

32

947

0.59

0.31

Sandusky

0

0

0

0

21

21

1,239

0.45

0.23

Scioto

0

0

12

13

1

26

1,339

0.41

0.22

Seneca

0

0

1

0

5

6

4,060

0.14

0.07

Shelby

0

0

0

0

28

28

700

0.79

0.41

Stark

0

4

395

124

261

784

207

2.68

1.40

Summit

0

5

590

259

417

1,271

189

2.93

1.53

Trumbull

0

2

150

99

219

470

206

2.70

1.41

Tuscarawas

0

0

1

28

27

56

694

0.80

0.42

Union

0

0

14

9

17

40

450

1.23

0.64

Van Wert

0

0

1

0

9

10

1,270

0.44

0.23

Vinton

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

0

54

0

41

95

758

0.73

0.38

Washington

0

0

0

0

1

1

28,047

0.02

0.01

Wayne

0

0

12

54

48

114

396

1.40

0.73

Williams

0

0

9

0

2

11

1,530

0.36

0.19

Wood

0

0

29

1

8

38

1,337

0.41

0.22

Wyandot

0

0

0

0

2

2

4,819

0.12

0.06

 

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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