OHIO FORECLOSURE ACTIVITY UP LESS THAN 1 PERCENT IN FEBRUARY

Foreclosure Activity Increases 8 Percent From February 2008

Foreclosure Rate Ranks No. 10 Among the States

 

IRVINE, Calif. – March 27, 2009 – Ohio reported 11,231 properties with foreclosure filings in February, a less than 1 percent increase from the previous month, and 8 percent above the level reported for February 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 451 Ohio housing units received a foreclosure filing during the month, the tenth 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.

 

“Foreclosure activity rose slightly in Ohio in February, remaining above the level seen at the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment claims have gone up exponentially within the state, adding to its foreclosure issues, though its jobless rate remains better than in many parts of the nation.”

 

Ohio ranked seventh in the country in total properties with foreclosure filings for February. California led the nation in total properties with foreclosure filings, reporting 80,775 filings for February. Second-ranked Florida reported 46,391 properties with foreclosure filings in February. Arizona reported 18,119 properties with foreclosure filings, the nation’s third highest state total. Next was Nevada, which reported 15,783 properties with foreclosure filings, followed by Illinois, which reported 14,218 properties with foreclosure filings for the month. The remaining states in the nation’s top 10 for total properties with foreclosure filings in February were Texas, Georgia and Virginia.

 

Cuyahoga County leads state in foreclosure activity

Cuyahoga County led the state, reporting 2,028 properties with foreclosure filings for the month. Franklin County was second highest, reporting 1,148 properties with foreclosure filings. Third highest was Lucas County, reporting 694 properties with foreclosure filings. Butler County was in fourth place, documenting 674 properties with foreclosure filings. Fifth highest total was tallied in Stark County, where 546 properties with foreclosure filings were reported.

 

Clark County posts top foreclosure rate

Clark County reported the highest county foreclosure rate in Ohio for February, with one in every 207 housing units receiving a foreclosure filing — 2.2 times the state average and 2.1 times the national average. Huron County came in second, with one in every 212 housing units receiving a foreclosure filing — 2.1 times the state average and 2.1 times the national average. Butler County posted the third highest foreclosure rate, where one in every 214 housing units received a foreclosure filing during the month — 2.1 times the state average and 2.1 times the national average.

 

State the seventh largest contributor to nation’s foreclosure total in February

Ohio accounted for 4 percent of the 290,631 properties with foreclosure filings reported nationwide in February. The national total represented a 6 percent increase in activity from the previous month and was 30 percent ahead of the total reported for February 2008. One in every 440 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 – February 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

54,064

55,509

78,234

28,729

74,095

290,631

440

n/a

n/a

Ohio

0

4,453

2

3,376

3,400

11,231

451

0.98

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

2

15

19

633

0.70

0.71

Allen

0

28

0

40

13

81

560

0.79

0.81

Ashland

0

24

0

6

6

36

611

0.72

0.74

Ashtabula

0

31

0

15

35

81

564

0.78

0.80

Athens

0

33

0

0

15

48

525

0.84

0.86

Auglaize

0

4

0

14

14

32

609

0.72

0.74

Belmont

0

0

0

9

3

12

2,611

0.17

0.17

Brown

0

9

0

24

34

67

288

1.53

1.57

Butler

0

197

0

198

275

670

214

2.05

2.10

Carroll

0

1

0

0

4

5

2,609

0.17

0.17

Champaign

0

2

0

0

17

19

887

0.50

0.51

Clark

0

187

0

80

33

300

207

2.13

2.18

Clermont

0

127

0

27

31

185

420

1.05

1.07

Clinton

0

2

0

2

3

7

2,570

0.17

0.18

Columbiana

0

37

0

27

5

69

680

0.65

0.66

Coshocton

0

0

0

4

5

9

1,795

0.25

0.25

Crawford

0

14

0

21

9

44

469

0.94

0.96

Cuyahoga

0

794

0

662

572

2,028

306

1.44

1.47

Darke

0

0

0

16

14

30

744

0.59

0.61

Defiance

0

0

0

10

9

19

890

0.49

0.51

Delaware

0

60

0

54

25

139

443

0.99

1.02

Erie

0

3

0

10

3

16

2,345

0.19

0.19

Fairfield

0

41

0

0

47

88

637

0.69

0.71

Fayette

0

20

0

34

2

56

227

1.94

1.99

Franklin

0

523

2

188

435

1,148

455

0.97

0.99

Fulton

0

42

0

13

7

62

278

1.58

1.62

Gallia

0

0

0

0

1

1

13,337

0.03

0.03

Geauga

0

3

0

11

2

16

2,214

0.20

0.20

Greene

0

63

0

41

21

125

525

0.84

0.86

Guernsey

0

0

0

22

5

27

725

0.61

0.62

Hamilton

0

8

0

174

193

375

1,025

0.43

0.44

Hancock

0

37

0

0

6

43

785

0.56

0.57

Hardin

0

0

0

0

2

2

6,586

0.07

0.07

Harrison

0

0

0

0

1

1

7,737

0.06

0.06

Henry

0

1

0

0

6

7

1,748

0.25

0.26

Highland

0

1

0

20

21

42

436

1.01

1.04

Hocking

0

0

0

10

0

10

1,253

0.35

0.36

Holmes

0

0

0

3

2

5

2,532

0.17

0.18

Huron

0

43

0

33

41

117

212

2.08

2.13

Jackson

0

0

0

1

5

6

2,440

0.18

0.18

Jefferson

0

18

0

0

2

20

1,673

0.26

0.27

Knox

0

33

0

19

0

52

463

0.95

0.97

Lake

0

94

0

102

56

252

392

1.12

1.15

Lawrence

0

13

0

0

13

26

1,052

0.42

0.43

Licking

0

133

0

50

70

253

261

1.69

1.73

Logan

0

0

0

15

22

37

624

0.71

0.72

Lorain

0

123

0

130

80

333

369

1.19

1.22

Lucas

0

415

0

79

200

694

293

1.50

1.54

Madison

0

1

0

15

16

32

484

0.91

0.93

Mahoning

0

118

0

2

58

178

641

0.69

0.70

Marion

0

45

0

19

35

99

279

1.57

1.61

Medina

0

98

0

57

4

159

416

1.06

1.08

Meigs

0

0

0

0

0

0

 n/a

0.00

0.00

Mercer

0

0

0

5

10

15

1,115

0.39

0.40

Miami

0

0

0

17

3

20

2,109

0.21

0.21

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

140

0

235

145

520

490

0.90

0.92

Morgan

0

0

0

0

0

0

 n/a

0.00

0.00

Morrow

0

1

0

3

6

10

1,316

0.33

0.34

Muskingum

0

38

0

28

19

85

417

1.05

1.08

Noble

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

0

3

0

7

18

28

968

0.45

0.47

Paulding

0

0

0

5

2

7

1,259

0.35

0.36

Perry

0

6

0

13

9

28

506

0.87

0.89

Pickaway

0

25

0

9

4

38

520

0.85

0.87

Pike

0

0

0

8

1

9

1,374

0.32

0.33

Portage

0

60

0

23

19

102

639

0.69

0.71

Preble

0

0

0

14

23

37

487

0.90

0.93

Putnam

0

0

0

6

27

33

407

1.08

1.11

Richland

0

39

0

9

48

96

573

0.77

0.79

Ross

0

25

0

19

8

52

581

0.76

0.78

Sandusky

0

0

0

28

7

35

746

0.59

0.60

Scioto

0

29

0

13

19

61

569

0.77

0.79

Seneca

0

37

0

6

10

53

460

0.96

0.98

Shelby

0

0

0

14

39

53

378

1.17

1.19

Stark

0

160

0

293

93

546

301

1.46

1.50

Summit

0

132

0

148

135

415

585

0.75

0.77

Trumbull

0

100

0

91

78

269

360

1.22

1.25

Tuscarawas

0

32

0

36

28

96

406

1.08

1.11

Union

0

11

0

0

0

11

1,699

0.26

0.27

Van Wert

0

0

0

0

2

2

6,369

0.07

0.07

Vinton

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

94

0

48

84

226

336

1.31

1.34

Washington

0

0

0

1

1

2

13,986

0.03

0.03

Wayne

0

35

0

20

4

59

775

0.57

0.58

Williams

0

2

0

14

11

27

629

0.70

0.72

Wood

0

47

0

0

53

100

520

0.85

0.87

Wyandot

0

9

0

4

1

14

693

0.63

0.65

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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