OHIO FORECLOSURE ACTIVITY UP 6 PERCENT IN OCTOBER

Filings Statewide Decrease 30 Percent From October 2007; Rate Ranks No. 10

 

IRVINE, Calif. – Nov. 26, 2008 – Ohio dropped one spot in October to rank sixth highest foreclosure activity in the nation, reporting 12,109 properties with foreclosure filings, a 6 percent increase from the previous month but down 30 percent from the level reported in October 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 417 Ohio housing units received a foreclosure filing during the month, the 10th 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.

 

“On a monthly basis, Ohio’s foreclosure activity ticked up slightly in October, however activity seems to be easing somewhat on yearly basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state’s unemployment rate remains high, leaving many homeowners in economic despair and possibly facing foreclosure down the road in the near future.”

 

Foreclosure activity around The Buckeye State was far below national leader California, which reported 56,954 properties with foreclosure filings in October. The state total was also well below second place Florida, which reported 54,324 properties with foreclosure filings for the month. Arizona took over third place once again, reporting 17,507 properties with foreclosure filings. Nevada dropped down to fourth highest, documenting 14,483 properties with foreclosure filings. Illinois moved up from seventh to fifth highest, reporting 12,681 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in October were Michigan, Georgia, Texas and New Jersey.

 

Cuyahoga County tops in foreclosure activity for October

Cuyahoga County led the state once again, reporting 1,892 properties with foreclosure filings for the month. Franklin County came in second highest, reporting 1,458 properties with foreclosure filings. Lucas County ranked third, reporting 833 properties with foreclosure filings. Summit County came in fourth place, documenting 803 properties with foreclosure filings. Hamilton County rounded out the state’s top five, reporting 708 properties with foreclosure filings.

 

Clark County post state’s top rate for October

With one in every 209 housing units receiving a foreclosure filing in October — twice the state average and 2.2 times the national average — Clark County posted the highest foreclosure rate in the state. Second highest rate was reported in Lucas County, where one in every 243 housing units received a foreclosure filing — 1.7 times the state average and 1.9 times the national average. Third highest rate was documented in Brown County, where one in every 268 housing units received a foreclosure filing during the month — 1.6 times the state average and 1.7 times the national average.

 

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

Ohio accounted for 4 percent of the 279,561 properties with foreclosure filings reported nationwide in October. The national total represented an increase of more than 5 percent from the previous month and was almost 25 percent ahead of the total reported for October 2007. The nation’s foreclosure rate rose to one in every 452 U.S. housing units 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 – October 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,036

66,033

66,319

26,305

84,868

279,561

452

n/a

n/a

Ohio

0

4,546

0

3,240

4,323

12,109

417

1.08

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

2

2

4

3,017

0.15

0.14

Allen

0

31

0

26

39

96

472

0.96

0.88

Ashland

0

16

0

14

8

38

577

0.78

0.72

Ashtabula

0

27

0

27

47

101

451

1.00

0.92

Athens

0

15

0

11

7

33

763

0.59

0.55

Auglaize

0

6

0

10

10

26

745

0.61

0.56

Belmont

0

1

0

16

15

32

980

0.46

0.43

Brown

0

32

0

14

24

70

268

1.69

1.56

Butler

0

148

0

228

78

454

313

1.44

1.33

Carroll

0

0

0

0

3

3

4,360

0.10

0.10

Champaign

0

2

0

7

9

18

933

0.48

0.45

Clark

0

175

0

65

57

297

209

2.16

1.99

Clermont

0

120

0

80

73

273

284

1.59

1.47

Clinton

0

1

0

24

12

37

483

0.94

0.86

Columbiana

0

55

0

21

21

97

485

0.93

0.86

Coshocton

0

1

0

18

4

23

705

0.64

0.59

Crawford

0

23

0

11

13

47

439

1.03

0.95

Cuyahoga

0

728

0

426

738

1,892

328

1.38

1.27

Darke

0

1

0

14

4

19

1,173

0.39

0.36

Defiance

0

0

0

11

1

12

1,398

0.32

0.30

Delaware

0

60

0

35

39

134

449

1.01

0.93

Erie

0

7

0

47

42

96

390

1.16

1.07

Fairfield

0

37

0

19

34

90

617

0.73

0.67

Fayette

0

20

0

12

9

41

306

1.48

1.36

Franklin

0

489

0

503

466

1,458

356

1.27

1.17

Fulton

0

21

0

3

1

25

687

0.66

0.61

Gallia

0

1

0

0

0

1

13,386

0.03

0.03

Geauga

0

37

0

9

11

57

618

0.73

0.67

Greene

0

27

0

53

45

125

520

0.87

0.80

Guernsey

0

0

0

8

6

14

1,398

0.32

0.30

Hamilton

0

161

0

303

244

708

542

0.83

0.77

Hancock

0

33

0

9

13

55

598

0.76

0.70

Hardin

0

0

0

4

20

24

548

0.82

0.76

Harrison

0

0

0

0

0

0

 

0.00

0.00

Henry

0

1

0

8

3

12

1,014

0.45

0.41

Highland

0

1

0

3

16

20

911

0.50

0.46

Hocking

0

0

0

6

2

8

1,569

0.29

0.27

Holmes

0

0

0

1

0

1

12,687

0.04

0.03

Huron

0

34

0

24

16

74

333

1.36

1.25

Jackson

0

0

0

3

0

3

4,867

0.09

0.09

Jefferson

0

20

0

0

2

22

1,525

0.30

0.27

Knox

0

31

0

29

25

85

280

1.61

1.49

Lake

0

76

0

61

37

174

562

0.80

0.74

Lawrence

0

17

0

0

8

25

1,097

0.41

0.38

Licking

0

169

0

12

60

241

271

1.67

1.54

Logan

0

0

0

17

10

27

850

0.53

0.49

Lorain

0

224

0

64

111

399

305

1.48

1.36

Lucas

0

274

0

231

328

833

243

1.86

1.71

Madison

0

3

0

10

14

27

571

0.79

0.73

Mahoning

0

107

0

7

39

153

745

0.61

0.56

Marion

0

29

0

32

22

83

330

1.37

1.26

Medina

0

77

0

60

32

169

387

1.17

1.08

Meigs

0

0

0

8

0

8

1,357

0.33

0.31

Mercer

0

0

0

5

4

9

1,855

0.24

0.22

Miami

0

0

0

43

25

68

618

0.73

0.67

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

202

0

133

242

577

441

1.02

0.94

Morgan

0

0

0

0

0

0

 n/a

0.00

0.00

Morrow

0

1

0

3

10

14

930

0.49

0.45

Muskingum

0

57

0

12

47

116

306

1.47

1.36

Noble

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

0

3

0

1

2

6

4,483

0.10

0.09

Paulding

0

0

0

9

9

18

489

0.92

0.85

Perry

0

9

0

5

3

17

832

0.54

0.50

Pickaway

0

18

0

2

8

28

705

0.64

0.59

Pike

0

4

0

10

5

19

649

0.70

0.64

Portage

0

56

0

22

94

172

376

1.20

1.11

Preble

0

0

0

4

11

15

1,196

0.38

0.35

Putnam

0

0

0

4

0

4

3,348

0.13

0.12

Richland

0

69

0

42

24

135

407

1.11

1.02

Ross

0

18

0

6

10

34

891

0.51

0.47

Sandusky

0

0

0

19

12

31

841

0.54

0.50

Scioto

0

34

0

7

1

42

828

0.55

0.50

Seneca

0

32

0

10

4

46

530

0.85

0.79

Shelby

0

0

0

26

2

28

709

0.64

0.59

Stark

0

202

0

42

166

410

400

1.13

1.04

Summit

0

197

0

22

584

803

301

1.50

1.38

Trumbull

0

92

0

82

40

214

453

1.00

0.92

Tuscarawas

0

33

0

5

44

82

475

0.95

0.88

Union

0

10

0

10

22

42

439

1.03

0.95

Van Wert

0

0

0

0

13

13

979

0.46

0.43

Vinton

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

82

0

46

55

183

406

1.11

1.03

Washington

0

0

0

0

10

10

2,803

0.16

0.15

Wayne

0

52

0

38

34

124

367

1.23

1.14

Williams

0

0

0

6

0

6

2,818

0.16

0.15

Wood

0

26

0

19

22

67

771

0.59

0.54

Wyandot

0

11

0

1

0

12

806

0.56

0.52

 

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