OHIO FORECLOSURE ACTIVITY UP 2 PERCENT IN JULY

Foreclosure Activity Increases 1 Percent From July 2007; Rate Ranks No. 5

 

IRVINE, Calif. – Aug. 29, 2008 – Foreclosure filings were reported on 13,457 Ohio properties in July, the third highest total in the nation. This represents a 2 percent increase in foreclosure activity from the previous month but is little more than 1 percent ahead of the level reported for July 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 375 Ohio households received a foreclosure filing during the month, the fifth 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.

 

“Total foreclosure filings in Ohio for July were at their highest level so far this year, but the percentage of increase was by the narrowest of margins both on a monthly and yearly basis, said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment statewide has retreated to below the national average and home prices are moving in a positive direction in the short term. However, compared to last year home sales and prices are still down by double digits, meaning that the state’s housing market has not stabilized yet.”

 

Although still in the nation’s top five for foreclosure activity, the Buckeye State faired much better than national leader California, which reported 72,285 properties with foreclosure filings for the month. Florida remained in second place, reporting 45,884 properties with foreclosure filings. Arizona narrowly stayed in fourth place, reporting 13,350 properties with foreclosure filings for the month. Michigan kept its position in fifth place, reporting 11,591 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in July were Texas, Georgia, Nevada, Illinois and New York.

 

Four counties dominate the foreclosure landscape in July

Four Ohio counties accounted for 48 percent of all foreclosure activity in the state for July. Franklin County led the way, reporting 2,106 properties with foreclosure filings for the month. Cuyahoga County came in second highest, reporting 2,029 properties with foreclosure filings. Third place Summit County registered 1,274 properties with foreclosure filings. Fourth place Hamilton County reported 1,078 properties with foreclosure filings in July.

 

Highest foreclosure rate for July reported in Summit County

One in every 190 households received a foreclosure filing in Summit County during July, the top county foreclosure rate in the state for the month — nearly twice the state average and 2.4 times the national average. Marion County reported the second highest rate in the state, with one in every 212 households receiving a foreclosure filing — 1.8 times the state average and 2.2 times the national average. Third highest county rate was posted by Lorain County, where one in every 224 households received a foreclosure filing during the month — 1.7 times the state average and 2.1 times the national average.

 

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

Ohio accounted for 5 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 U.S. households received 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 – July 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

Ohio

0

4,533

58

4,809

4,057

13,457

375

1.24

n/a

 

 

 

 

 

 

 

 

 

Adams

0

1

0

1

0

2

6,034

0.08

0.06

Allen

0

30

0

1

48

79

573

0.81

0.65

Ashland

0

11

0

0

15

26

843

0.55

0.44

Ashtabula

0

21

1

54

42

118

386

1.20

0.97

Athens

0

11

0

1

10

22

1,145

0.41

0.33

Auglaize

0

5

0

9

10

24

807

0.58

0.46

Belmont

0

0

0

16

8

24

1,307

0.36

0.29

Brown

0

1

0

23

19

43

436

1.07

0.86

Butler

0

163

2

6

139

310

459

1.01

0.82

Carroll

0

0

0

1

4

5

2,616

0.18

0.14

Champaign

0

0

0

1

4

5

3,357

0.14

0.11

Clark

0

0

1

65

61

127

489

0.95

0.77

Clermont

0

55

0

53

63

171

453

1.02

0.83

Clinton

0

0

0

26

15

41

436

1.07

0.86

Columbiana

0

19

2

5

30

56

840

0.55

0.45

Coshocton

0

1

0

1

3

5

3,242

0.14

0.12

Crawford

0

20

2

1

3

26

793

0.59

0.47

Cuyahoga

0

1,000

15

448

566

2,029

306

1.52

1.22

Darke

0

0

0

12

5

17

1,311

0.35

0.29

Defiance

0

0

0

10

1

11

1,525

0.30

0.25

Delaware

0

69

0

4

55

128

471

0.99

0.80

Erie

0

12

1

48

9

70

535

0.87

0.70

Fairfield

0

52

0

74

44

170

327

1.42

1.15

Fayette

0

25

0

5

4

34

369

1.26

1.02

Franklin

0

414

5

995

692

2,106

246

1.88

1.52

Fulton

0

16

1

17

2

36

477

0.97

0.79

Gallia

0

0

0

0

0

0

n/a

0.00

0.00

Geauga

0

18

0

7

13

38

927

0.50

0.40

Greene

0

52

1

4

32

89

730

0.64

0.51

Guernsey

0

0

0

3

3

6

3,261

0.14

0.11

Hamilton

0

341

7

337

393

1,078

356

1.30

1.05

Hancock

0

13

0

19

22

54

609

0.76

0.62

Hardin

0

1

0

1

3

5

2,630

0.18

0.14

Harrison

0

0

0

0

1

1

7,766

0.06

0.05

Henry

0

0

0

7

9

16

760

0.61

0.49

Highland

0

2

0

17

15

34

536

0.87

0.70

Hocking

0

1

0

10

3

14

897

0.52

0.42

Holmes

0

4

0

0

2

6

2,115

0.22

0.18

Huron

0

10

1

48

15

74

333

1.39

1.13

Jackson

0

4

0

2

1

7

2,086

0.22

0.18

Jefferson

0

19

1

1

4

25

1,342

0.35

0.28

Knox

0

26

0

2

3

31

769

0.60

0.49

Lake

0

89

0

66

76

231

424

1.10

0.89

Lawrence

0

0

0

0

7

7

3,917

0.12

0.10

Licking

0

1

0

2

53

56

1,167

0.40

0.32

Logan

0

1

0

13

7

21

1,093

0.42

0.34

Lorain

0

238

2

130

175

545

224

2.08

1.68

Lucas

0

195

5

491

79

770

263

1.76

1.42

Madison

0

6

0

7

12

25

616

0.75

0.61

Mahoning

0

112

1

3

5

121

942

0.49

0.40

Marion

0

0

0

78

51

129

212

2.19

1.77

Medina

0

30

1

4

16

51

1,283

0.36

0.29

Meigs

0

0

0

1

1

2

5,428

0.09

0.07

Mercer

0

0

0

3

11

14

1,193

0.39

0.31

Miami

0

0

0

28

30

58

725

0.64

0.52

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

453

3

185

148

789

322

1.44

1.16

Morgan

0

0

0

0

0

0

 n/a

0.00

0.00

Morrow

0

5

0

17

5

27

482

0.96

0.78

Muskingum

0

33

0

2

42

77

462

1.01

0.81

Noble

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

0

1

0

22

10

33

815

0.57

0.46

Paulding

0

0

0

1

4

5

1,761

0.26

0.21

Perry

0

4

1

7

3

15

942

0.49

0.40

Pickaway

0

30

0

0

9

39

506

0.92

0.74

Pike

0

0

0

6

7

13

949

0.49

0.40

Portage

0

49

1

91

38

179

362

1.28

1.04

Preble

0

0

0

13

10

23

780

0.59

0.48

Putnam

0

1

0

4

1

6

2,232

0.21

0.17

Richland

0

61

0

16

57

134

410

1.13

0.91

Ross

0

39

0

9

13

61

496

0.93

0.76

Sandusky

0

0

0

2

26

28

931

0.50

0.40

Scioto

0

14

0

31

6

51

682

0.68

0.55

Seneca

0

22

0

24

21

67

364

1.28

1.03

Shelby

0

0

0

18

5

23

863

0.54

0.43

Stark

0

245

2

181

236

664

247

1.88

1.52

Summit

0

243

0

860

171

1,274

190

2.44

1.97

Trumbull

0

92

2

9

53

156

621

0.75

0.60

Tuscarawas

0

33

0

0

34

67

581

0.80

0.65

Union

0

26

0

19

29

74

249

1.86

1.50

Van Wert

0

0

0

0

11

11

1,157

0.40

0.32

Vinton

0

0

0

0

1

1

5,725

0.08

0.07

Warren

0

64

0

60

129

253

294

1.58

1.28

Washington

0

0

0

1

1

2

14,014

0.03

0.03

Wayne

0

23

0

1

39

63

722

0.64

0.52

Williams

0

0

0

18

2

20

845

0.55

0.44

Wood

0

1

0

44

47

92

561

0.83

0.67

Wyandot

0

5

0

7

5

17

569

0.82

0.66

 

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved