OHIO FORECLOSURES INCREASE 16 PERCENT IN JANUARY

Activity Up 3 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Feb. 25, 2007 – Ohio documented 8,504 new foreclosure filings in January, the fifth highest foreclosure total in the country and an increase of 16 percent from the previous month, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one new foreclosure filing for every 562 households continued to rank seventh highest among the states.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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.

 

Ohio’s monthly foreclosure total consistently ranked among the 10 highest state totals throughout 2006 and remains a member of that hierarchy as we begin 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “There are a number of factors at work here, including a lower home sales volume, plus a very low home price appreciation rate, higher unemployment and more bankruptcy filings, to name a few, that can have tremendous impact on homeowners’ ability to avoid foreclosure.”

 

Bulk of state foreclosures found in five counties

The combined foreclosure filings in five counties accounted for 66 percent of all foreclosures in Ohio for January. Cuyahoga County documented the state’s highest total of the month, 2,109 new foreclosure filings. Franklin County documented the second highest total in the state, 1,726 new filings. Hamilton County had the state’s third highest total with 701 new filings. Lucas County documented 551 new foreclosure filings, giving it the fourth highest total in the state. Montgomery County rounded out the state’s top five, reporting 540 filings in the foreclosure pipeline during the month.

 

Franklin County leads state in foreclosure rate

Franklin County posted Ohio’s highest foreclosure rate in January — one new foreclosure filing for every 273 households — 2.1 times the state average and 3.3 times the national average. Cuyahoga County registered the second highest rate — one new foreclosure filing for every 293 households — nearly twice the state average and more than three times the national average. Union County came in third with a foreclosure rate of one new foreclosure filing for every 324 households — 1.7 times the state average and 2.7 times the national average. Stark County posted the state’s fourth highest foreclosure rate, one new foreclosure filing for every 347 households— 1.6 times the state average and 2.6 times the national average. Lucas County came in fifth with a foreclosure rate of one new foreclosure filing for every 356 households — 1.6 times the state average and 2.5 times the national average.

 

State accounts for 7 percent of national total

Ohio’s state total accounted for 7 percent of the 130,511 new foreclosure filings nationwide in January. The national total was up 19 percent from the previous month and a 25 percent increase from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Ohio

267

4,323

0

0

3,914

8,504

562

1.58

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

11,822

0.07

0.05

Allen

3

2

0

0

1

6

7,374

0.12

0.08

Ashland

0

0

0

0

11

11

1,894

0.47

0.30

Ashtabula

3

39

0

0

8

50

876

1.01

0.64

Athens

2

0

0

0

3

5

4,980

0.18

0.11

Auglaize

0

11

0

0

5

16

1,155

0.77

0.49

Belmont

0

2

0

0

6

8

3,905

0.23

0.14

Brown

0

0

0

0

7

7

2,456

0.36

0.23

Butler

6

12

0

0

79

97

1,338

0.66

0.42

Carroll

0

0

0

0

3

3

4,339

0.20

0.13

Champaign

0

1

0

0

5

6

2,648

0.33

0.21

Clark

4

4

0

0

44

52

1,174

0.75

0.48

Clermont

3

51

0

0

42

96

721

1.23

0.78

Clinton

1

5

0

0

1

7

2,368

0.37

0.24

Columbiana

0

3

0

0

10

13

3,545

0.25

0.16

Coshocton

0

0

0

0

4

4

4,027

0.22

0.14

Crawford

0

0

0

0

0

0

n/a

0.00

0.00

Cuyahoga

61

902

0

0

1,146

2,109

293

3.03

1.92

Darke

1

0

0

0

7

8

2,698

0.33

0.21

Defiance

1

1

0

0

0

2

8,020

0.11

0.07

Delaware

2

5

0

0

30

37

1,145

0.77

0.49

Erie

3

5

0

0

3

11

3,182

0.28

0.18

Fairfield

0

43

0

0

27

70

686

1.29

0.82

Fayette

0

0

0

0

6

6

1,984

0.45

0.28

Franklin

49

1,113

0

0

564

1,726

273

3.25

2.06

Fulton

0

1

0

0

4

5

3,246

0.27

0.17

Gallia

0

1

0

0

0

1

13,498

0.07

0.04

Geauga

0

1

0

0

4

5

6,561

0.14

0.09

Greene

0

36

0

0

23

59

987

0.90

0.57

Hamilton

11

624

0

0

66

701

533

1.66

1.06

Hancock

3

7

0

0

17

27

1,103

0.80

0.51

Hardin

1

8

0

0

20

29

445

1.99

1.26

Harrison

0

1

0

0

0

1

7,680

0.12

0.07

Henry

1

0

0

0

0

1

11,633

0.08

0.05

Highland

0

13

0

0

11

24

733

1.21

0.77

Hocking

0

1

0

0

0

1

12,141

0.07

0.05

Holmes

0

1

0

0

1

2

6,140

0.14

0.09

Huron

0

0

0

0

1

1

23,594

0.04

0.02

Jackson

0

1

0

0

5

6

2,318

0.38

0.24

Jefferson

1

2

0

0

0

3

11,067

0.08

0.05

Knox

0

0

0

0

6

6

3,632

0.24

0.15

Lake

1

35

0

0

66

102

917

0.97

0.61

Lawrence

0

1

0

0

20

21

1,295

0.68

0.43

Licking

3

4

0

0

40

47

1,250

0.71

0.45

Logan

0

2

0

0

24

26

830

1.07

0.68

Lorain

8

127

0

0

67

202

551

1.61

1.02

Lucas

9

295

0

0

247

551

356

2.49

1.58

Madison

0

11

0

0

10

21

683

1.30

0.82

Mahoning

12

6

0

0

124

142

787

1.13

0.71

Marion

0

2

0

0

0

2

13,105

0.07

0.04

Medina

0

3

0

0

24

27

2,103

0.42

0.27

Meigs

1

0

0

0

0

1

10,782

0.08

0.05

Mercer

0

0

0

0

2

2

7,938

0.11

0.07

Miami

1

1

0

0

1

3

13,518

0.07

0.04

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

22

167

0

0

351

540

460

1.93

1.22

Morgan

0

0

0

0

0

0

 n/a

0.00

0.00

Morrow

0

0

0

0

3

3

4,044

0.22

0.14

Muskingum

3

1

0

0

13

17

2,068

0.43

0.27

Ottawa

0

7

0

0

1

8

3,192

0.28

0.18

Perry

1

0

0

0

3

4

3,414

0.26

0.16

Pickaway

0

2

0

0

19

21

886

1.00

0.64

Pike

0

0

0

0

2

2

5,801

0.15

0.10

Portage

0

70

0

0

30

100

601

1.47

0.94

Preble

2

1

0

0

0

3

5,729

0.15

0.10

Richland

6

19

0

0

28

53

1,001

0.88

0.56

Ross

1

0

0

0

27

28

1,052

0.84

0.53

Sandusky

0

1

0

0

9

10

2,525

0.35

0.22

Scioto

1

0

0

0

0

1

34,054

0.03

0.02

Seneca

0

0

0

0

2

2

11,846

0.07

0.05

Shelby

0

8

0

0

3

11

1,698

0.52

0.33

Stark

8

127

0

0

318

453

347

2.56

1.62

Summit

25

355

0

0

130

510

453

1.96

1.24

Trumbull

1

9

0

0

66

76

1,252

0.71

0.45

Tuscarawas

1

2

0

0

14

17

2,242

0.40

0.25

Union

0

42

0

0

5

47

324

2.74

1.74

Van Wert

0

13

0

0

3

16

773

1.15

0.73

Warren

3

80

0

0

40

123

477

1.86

1.18

Washington

1

4

0

0

5

10

2,776

0.32

0.20

Wayne

1

9

0

0

43

53

799

1.11

0.70

Williams

0

14

0

0

0

14

1,153

0.77

0.49

Wood

0

9

0

0

3

12

3,956

0.22

0.14

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 construction properties, 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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