OHIO FORECLOSURES INCREASE 12 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 143 Percent From July 2006; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Aug. 24, 2007 – Ohio reported 13,316 foreclosure filings in July, up 12 percent from the previous month, and the fourth highest state foreclosure total in the nation. On an annual basis, the state’s foreclosure level was up 143 percent from July 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate, one foreclosure filing for every 376 households, ranked sixth highest in the nation and was 1.8 times the national average.

 

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.

 

“So far in 2007 Ohio has remained among the top five states in terms of monthly foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in the state has increased well beyond the national average. Also, home sales and prices have declined at least slightly in many areas of the state, causing increased inventory. Taken together these are major contributing factors as to why foreclosure levels are remaining high in the state.”

 

Total foreclosure filings in the Buckeye State were well behind national leader California, which tallied 39,013 foreclosure filings for July. The state also lagged far behind second-ranked Florida, which reported 19,179 filings for the month. Michigan beat out Ohio for third highest total by little more than 650 filings. Georgia reported the nation’s fifth highest total, with 12,602 filings entering some stage of the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in July were Texas, Colorado, Arizona, Illinois and Nevada.

 

Four counties account for bulk of all foreclosure activity in July

Four Ohio counties accounted for 58 percent of all activity in the state for July. Once again Cuyahoga County reported the highest county total in the state, with 3,711 foreclosure filings. Franklin County tallied the second highest total, reporting 1,800 filings. Third highest total was in Summit County, which reported 1,224 filings. The fourth highest total was reported in Hamilton County, with 1,001 filings in some stage of the foreclosure pipeline.

 

Putnam County posts state’s highest foreclosure rate

Reporting one foreclosure filing for every 162 households — 2.3 times the state average and 4.3 times the national average — Putnam County posted the highest county foreclosure rate in the state for July. Cuyahoga County came in second with a foreclosure rate of one foreclosure filing for every 167 households — 2.3 times the state average and 4.2 times the national average. Summit County posted the state’s third highest rate, one foreclosure filing for every 196 households — 1.9 times the state average and 3.5 times the national average. Lucas County was fourth, posting a rate of one foreclosure filing for every 242 households. Franklin County rounded out the state’s top five counties with a foreclosure rate of one filing for every 285 households.

 

State a major contributor to national total

Total foreclosure filings in Ohio accounted for 7 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate was one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Ohio

10

89

5,961

4,197

3,059

13,316

376

1.84

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

1

1

3

0

5

2,418

0.29

0.16

Allen

0

1

1

84

2

88

513

1.35

0.73

Ashland

0

0

1

14

6

21

1,031

0.67

0.36

Ashtabula

0

0

4

0

13

17

2,674

0.26

0.14

Athens

0

0

0

8

4

12

2,102

0.33

0.18

Auglaize

0

0

7

8

0

15

1,282

0.54

0.29

Belmont

0

0

3

0

7

10

3,139

0.22

0.12

Brown

0

0

3

0

4

7

2,580

0.27

0.15

Butler

0

1

12

152

165

330

424

1.64

0.89

Carroll

0

0

0

1

1

2

6,551

0.11

0.06

Champaign

0

0

1

1

9

11

1,519

0.46

0.25

Clark

0

1

6

0

54

61

1,015

0.68

0.37

Clermont

0

0

105

28

83

216

355

1.95

1.06

Clinton

0

1

2

3

1

7

2,522

0.27

0.15

Columbiana

1

0

0

7

7

15

3,132

0.22

0.12

Coshocton

0

0

0

0

4

4

4,062

0.17

0.09

Crawford

0

1

3

16

2

22

929

0.75

0.40

Cuyahoga

1

32

1,413

1,130

1,135

3,711

167

4.15

2.25

Darke

0

0

2

0

11

13

1,706

0.41

0.22

Defiance

0

0

2

1

1

4

4,159

0.17

0.09

Delaware

0

0

4

46

27

77

740

0.94

0.51

Erie

0

0

4

2

1

7

5,297

0.13

0.07

Fairfield

0

0

43

36

36

115

475

1.46

0.79

Fayette

0

1

1

7

3

12

1,034

0.67

0.36

Franklin

0

9

1,017

527

247

1,800

285

2.43

1.32

Fulton

0

0

2

8

2

12

1,421

0.49

0.26

Geauga

0

0

5

33

8

46

760

0.91

0.50

Greene

0

1

32

6

23

62

1,028

0.67

0.37

Guernsey

0

0

2

0

1

3

6,513

0.11

0.06

Hamilton

1

13

753

223

11

1,001

383

1.81

0.98

Hancock

0

0

3

1

4

8

3,981

0.17

0.09

Hardin

0

1

13

2

9

25

526

1.32

0.71

Harrison

0

0

1

0

0

1

7,785

0.09

0.05

Henry

0

0

9

0

1

10

1,204

0.58

0.31

Highland

0

0

13

4

8

25

725

0.96

0.52

Hocking

0

0

1

2

0

3

4,142

0.17

0.09

Huron

0

0

1

8

1

10

2,448

0.28

0.15

Jackson

0

0

1

0

0

1

14,550

0.05

0.03

Jefferson

0

1

1

13

0

15

2,241

0.31

0.17

Knox

0

0

0

0

4

4

5,879

0.12

0.06

Lake

0

0

149

38

71

258

376

1.84

1.00

Lawrence

0

0

1

15

6

22

1,248

0.56

0.30

Licking

0

1

4

1

42

48

1,339

0.52

0.28

Logan

0

0

1

1

6

8

2,853

0.24

0.13

Lorain

1

0

272

53

29

355

338

2.05

1.11

Lucas

3

7

394

317

117

838

242

2.87

1.56

Madison

0

0

9

2

8

19

805

0.86

0.47

Mahoning

1

2

17

187

82

289

393

1.76

0.96

Marion

0

0

4

2

0

6

4,532

0.15

0.08

Medina

0

0

3

42

17

62

1,036

0.67

0.36

Mercer

0

0

0

0

4

4

4,151

0.17

0.09

Miami

0

0

1

0

1

2

20,903

0.03

0.02

Monroe

0

0

2

0

0

2

3,633

0.19

0.10

Montgomery

0

2

251

312

210

775

327

2.12

1.15

Morrow

0

0

1

0

5

6

2,146

0.32

0.18

Muskingum

0

1

4

29

11

45

790

0.88

0.48

Ottawa

0

0

14

3

1

18

1,480

0.47

0.25

Paulding

0

0

0

0

3

3

2,928

0.24

0.13

Perry

0

0

1

1

2

4

3,515

0.20

0.11

Pickaway

0

0

3

11

18

32

613

1.13

0.61

Pike

0

0

0

1

1

2

6,107

0.11

0.06

Portage

1

0

66

27

20

114

563

1.23

0.67

Preble

0

2

0

1

1

4

4,479

0.15

0.08

Putnam

0

1

0

1

80

82

162

4.27

2.31

Richland

0

1

12

50

17

80

685

1.01

0.55

Ross

0

1

3

23

18

45

674

1.03

0.56

Sandusky

0

1

1

0

17

19

1,369

0.51

0.27

Scioto

0

0

0

18

0

18

1,934

0.36

0.19

Seneca

0

0

1

0

0

1

24,362

0.03

0.02

Shelby

0

0

8

0

0

8

2,452

0.28

0.15

Stark

0

1

294

167

99

561

289

2.40

1.30

Summit

0

2

813

293

116

1,224

196

3.53

1.92

Trumbull

1

2

15

172

51

241

401

1.73

0.94

Tuscarawas

0

0

0

11

11

22

1,767

0.39

0.21

Union

0

0

10

13

10

33

546

1.27

0.69

Van Wert

0

0

0

0

1

1

12,700

0.05

0.03

Warren

0

1

88

30

45

164

439

1.58

0.86

Washington

0

0

11

0

5

16

1,753

0.40

0.21

Wayne

0

0

14

1

38

53

852

0.81

0.44

Williams

0

0

7

0

0

7

2,404

0.29

0.16

Wood

0

0

15

1

1

17

2,990

0.23

0.13

Wyandot

0

0

0

0

0

0

n/a

0.00

0.00

 

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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