OHIO FORECLOSURE ACTIVITY UP 6 PERCENT IN NOVEMBER

Filings Statewide Decrease 21 Percent From November 2007; Rate Ranks No. 7

 

IRVINE, Calif. – Dec. 29, 2008 – Total foreclosure filings in Ohio bounced higher for the third straight month, increasing 6 percent in November to 12,883 properties with foreclosure filings, however 21 percent below the level reported in November 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 392 Ohio housing units 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.

 

“Although November’s foreclosure activity in Ohio returned to the level reported at the beginning of the year, the good news is that the numbers are well below the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state currently holds one of the top 10 unemployment rates in the nation and continues to see layoffs in the manufacturing sector. In addition, home sales continue to decline — even with falling home prices. If these trends continue, it is likely that the foreclosure situation here will remain unchanged in the near term.”

 

Foreclosure activity in the Buckeye State remained sixth highest in the nation for November, and was far below the level set by national leader California which reported 60,491 properties with foreclosure filings in November. Ohio was also well behind second place Florida, which reported 49,190 properties with foreclosure filings for the month. Michigan climbed from seventh to third highest for the month, documenting 14,594 properties with foreclosure filings. Nevada remained in fourth place, reporting 13,962 properties with foreclosure filings. Arizona fell from third to fifth highest, reporting 13,136 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in November were Georgia, Illinois, Texas and Virginia.

 

Five counties lead state in foreclosure activity for November

The state’s top five counties accounted for 50 percent of its foreclosure activity in November. Leading the way was Cuyahoga County, reporting 1,999 properties with foreclosure filings. Second highest total was in Franklin County, reporting 1,652 properties with foreclosure filings. Hamilton County was third, reporting 993 properties with foreclosure filings. In fourth place was Lucas County, documenting 939 properties with foreclosure filings, followed by Montgomery County with 898 properties with foreclosure filings for the month.

 

Perry County posts top foreclosure rate for November

With one in every 166 housing units receiving a foreclosure filing — 2.4 times the state average and 2.9 times the national average — Perry County reported the highest foreclosure rate in the state in November. Second highest rate was reported in Lucas County, where one in every 216 housing units received a foreclosure filing — 1.8 times the state average and 2.3 times the national average. Third highest rate was documented in Butler County, where one in every 220 housing units received a foreclosure filing during the month — 1.8 times the state average and 2.2 times the national average.

 

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

Ohio accounted for 5 percent of the 259,085 properties with foreclosure filings reported nationwide in November. The national total represented a decrease of more than 7 percent from the previous month but was still 28 percent ahead of the total reported for November 2007. One in every 488 U.S. housing units 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 – November 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,416

53,827

64,136

23,527

78,179

259,085

488

n/a

n/a

Ohio

0

4,828

0

3,370

4,685

12,883

392

1.25

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Allen

0

34

0

45

7

86

527

0.93

0.74

Ashland

0

29

0

11

11

51

430

1.13

0.91

Ashtabula

0

32

0

20

48

100

456

1.07

0.86

Athens

0

6

0

7

8

21

1,200

0.41

0.33

Auglaize

0

2

0

4

16

22

880

0.55

0.44

Belmont

0

0

0

8

9

17

1,845

0.26

0.21

Brown

0

12

0

8

12

32

585

0.83

0.67

Butler

0

95

0

180

371

646

220

2.21

1.78

Carroll

0

0

0

0

0

0

 n/a

0.00

0.00

Champaign

0

1

0

7

9

17

987

0.49

0.40

Clark

0

98

0

40

49

187

332

1.47

1.18

Clermont

0

86

0

29

33

148

524

0.93

0.75

Clinton

0

5

0

3

6

14

1,276

0.38

0.31

Columbiana

0

26

0

54

6

86

547

0.89

0.72

Coshocton

0

1

0

5

10

16

1,013

0.48

0.39

Crawford

0

17

0

20

21

58

355

1.37

1.10

Cuyahoga

0

954

0

375

670

1,999

311

1.57

1.26

Darke

0

0

0

12

4

16

1,393

0.35

0.28

Defiance

0

0

0

7

1

8

2,098

0.23

0.19

Delaware

0

68

0

75

51

194

310

1.57

1.26

Erie

0

6

0

11

31

48

780

0.63

0.50

Fairfield

0

60

0

26

52

138

403

1.21

0.97

Fayette

0

11

0

1

24

36

349

1.40

1.12

Franklin

0

576

0

658

418

1,652

314

1.55

1.25

Fulton

0

12

0

8

2

22

781

0.62

0.50

Gallia

0

0

0

0

0

0

 n/a

0.00

0.00

Geauga

0

1

0

8

16

25

1,409

0.35

0.28

Greene

0

32

0

40

40

112

580

0.84

0.68

Guernsey

0

0

0

0

7

7

2,795

0.17

0.14

Hamilton

0

323

0

333

337

993

387

1.26

1.01

Hancock

0

27

0

6

4

37

889

0.55

0.44

Hardin

0

1

0

22

6

29

454

1.08

0.86

Harrison

0

0

0

0

0

0

 n/a

0.00

0.00

Henry

0

0

0

8

7

15

811

0.60

0.48

Highland

0

1

0

19

5

25

729

0.67

0.54

Hocking

0

1

0

10

3

14

897

0.54

0.44

Holmes

0

4

0

5

1

10

1,269

0.38

0.31

Huron

0

20

0

30

28

78

316

1.54

1.24

Jackson

0

0

0

5

1

6

2,433

0.20

0.16

Jefferson

0

12

0

16

8

36

932

0.52

0.42

Knox

0

16

0

0

33

49

486

1.00

0.81

Lake

0

98

0

19

78

195

502

0.97

0.78

Lawrence

0

6

0

0

11

17

1,613

0.30

0.24

Licking

0

79

0

5

43

127

515

0.95

0.76

Logan

0

1

0

10

15

26

883

0.55

0.44

Lorain

0

96

0

41

150

287

424

1.15

0.92

Lucas

0

406

0

235

298

939

216

2.26

1.81

Madison

0

1

0

8

13

22

700

0.70

0.56

Mahoning

0

103

0

34

130

267

427

1.14

0.92

Marion

0

38

0

30

34

102

268

1.82

1.46

Medina

0

66

0

41

39

146

448

1.09

0.87

Meigs

0

0

0

0

0

0

 n/a

0.00

0.00

Mercer

0

0

0

3

3

6

2,783

0.18

0.14

Miami

0

1

0

21

35

57

737

0.66

0.53

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

437

0

200

261

898

283

1.72

1.38

Morgan

0

2

0

0

1

3

2,669

0.18

0.15

Morrow

0

4

0

6

10

20

651

0.75

0.60

Muskingum

0

1

0

29

71

101

352

1.39

1.11

Noble

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

0

7

0

12

0

19

1,416

0.34

0.28

Paulding

0

0

0

3

1

4

2,202

0.22

0.18

Perry

0

4

0

0

81

85

166

2.93

2.35

Pickaway

0

13

0

23

15

51

387

1.26

1.01

Pike

0

0

0

0

4

4

3,084

0.16

0.13

Portage

0

39

0

55

58

152

426

1.14

0.92

Preble

0

0

0

20

12

32

561

0.87

0.70

Putnam

0

0

0

2

0

2

6,696

0.07

0.06

Richland

0

46

0

19

36

101

544

0.90

0.72

Ross

0

12

0

6

10

28

1,081

0.45

0.36

Sandusky

0

1

0

11

18

30

869

0.56

0.45

Scioto

0

0

0

0

4

4

8,696

0.06

0.05

Seneca

0

18

0

6

17

41

595

0.82

0.66

Shelby

0

0

0

7

1

8

2,481

0.20

0.16

Stark

0

275

0

108

132

515

319

1.53

1.23

Summit

0

289

0

96

402

787

307

1.59

1.27

Trumbull

0

85

0

99

27

211

459

1.06

0.85

Tuscarawas

0

17

0

5

13

35

1,112

0.44

0.35

Union

0

9

0

10

11

30

615

0.79

0.64

Van Wert

0

0

0

15

14

29

439

1.11

0.89

Vinton

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

65

0

26

83

174

427

1.14

0.92

Washington

0

0

0

0

13

13

2,156

0.23

0.18

Wayne

0

1

0

15

36

52

875

0.56

0.45

Williams

0

0

0

14

1

15

1,127

0.43

0.35

Wood

0

35

0

19

137

191

270

1.80

1.45

Wyandot

0

4

0

1

2

7

1,382

0.35

0.28

 

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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