OHIO FORECLOSURES INCREASE 39 PERCENT IN APRIL

Activity Up 135 Percent From a Year Ago; Foreclosure Rate in Top 5

 

IRVINE, Calif. – May 18, 2007 – Ohio tallied 11,431 foreclosure filings, the third highest state total in the nation for April. Foreclosure activity in the state increased 39 percent from the previous month, and surged 135 percent from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 418 households ranked fifth in the nation.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.

 

“This is the first time in over a year that a state besides California, Florida or Texas has broken into the nation’s top three for total foreclosure activity. Ohio has consistently ranked in the nation’s top five since last year, however,” said James J. Saccacio, chief executive officer of RealtyTrac. “Job losses in the manufacturing sector along with rising interest rates among subprime borrowers at least partially explain why more and more Ohio homeowners are being forced into foreclosure.”

 

Bulk of state foreclosures found in five counties

The combined foreclosure filings in five counties accounted for 62 percent of all foreclosures in Ohio for April. Cuyahoga County documented the state’s highest foreclosure total for the month, reporting 2,824 foreclosure filings. Franklin County documented the second highest foreclosure total in the state, with 1,765 foreclosure filings. Summit County had the state’s third highest foreclosure total with 1,156 foreclosure filings. Montgomery County documented the state’s fourth highest total with 771 foreclosure filings. Hamilton County rounded out the state’s top five, reporting 565 foreclosure filings in April.

 

Summit County leads state in foreclosure rate

Summit County posted Ohio’s highest foreclosure rate in April, reporting one foreclosure filing for every 200 households — 2.1 times the state average and 3.9 times the national average. Cuyahoga County registered the second highest rate, reporting one foreclosure filing for every 218 households — 1.9 times the state average and 3.6 times the national average. Butler County posted the third highest rate with one foreclosure filing for every 242 households — 1.7 times the state average and 3.2 times the national average. Fayette County posted the state’s fourth highest foreclosure rate, with one foreclosure filing for every 243 households — 1.7 times the state average and 3.2 times the national average.

 

State makes significant contribution to national total

Total foreclosure filings in Ohio accounted for 8 percent of the 147,708 foreclosure filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Ohio

2,941

4,945

0

0

3,545

11,431

418

1.87

n/a

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

4

5

2,364

0.33

0.18

Allen

65

4

0

0

0

69

641

1.22

0.65

Ashland

0

7

0

0

9

16

1,302

0.60

0.32

Ashtabula

1

44

0

0

37

82

534

1.47

0.78

Athens

2

0

0

0

3

5

4,980

0.16

0.08

Auglaize

6

13

0

0

0

19

973

0.80

0.43

Belmont

0

1

0

0

4

5

6,247

0.13

0.07

Brown

2

1

0

0

9

12

1,433

0.55

0.29

Butler

216

92

0

0

228

536

242

3.23

1.73

Carroll

0

0

0

0

0

0

n/a 

0.00

0.00

Champaign

0

4

0

0

5

9

1,766

0.44

0.24

Clark

1

10

0

0

41

52

1,174

0.67

0.36

Clermont

110

84

0

0

58

252

275

2.85

1.52

Clinton

3

4

0

0

2

9

1,842

0.43

0.23

Columbiana

17

45

0

0

7

69

668

1.17

0.63

Coshocton

2

0

0

0

13

15

1,074

0.73

0.39

Crawford

22

0

0

0

0

22

963

0.81

0.43

Cuyahoga

321

1,292

0

0

1,211

2,824

218

3.58

1.92

Darke

0

1

0

0

4

5

4,317

0.18

0.10

Defiance

0

1

0

0

0

1

16,040

0.05

0.03

Delaware

4

7

0

0

23

34

1,246

0.63

0.34

Erie

0

4

0

0

0

4

8,750

0.09

0.05

Fairfield

63

67

0

0

20

150

320

2.45

1.31

Fayette

24

18

0

0

7

49

243

3.22

1.72

Franklin

468

1,120

0

0

177

1,765

267

2.93

1.57

Fulton

17

0

0

0

10

27

601

1.30

0.70

Geauga

1

1

0

0

7

9

3,645

0.21

0.11

Greene

90

63

0

0

38

191

305

2.57

1.37

Guernsey

0

1

0

0

0

1

18,771

0.04

0.02

Hamilton

121

427

0

0

17

565

661

1.18

0.63

Hancock

1

1

0

0

17

19

1,568

0.50

0.27

Hardin

0

21

0

0

22

43

300

2.61

1.39

Harrison

0

0

0

0

0

0

n/a 

0.00

0.00

Henry

0

4

0

0

0

4

2,908

0.27

0.14

Highland

0

25

0

0

21

46

382

2.05

1.09

Hocking

3

3

0

0

0

6

2,024

0.39

0.21

Huron

1

1

0

0

2

4

5,899

0.13

0.07

Jackson

1

0

0

0

14

15

927

0.84

0.45

Jefferson

0

1

0

0

0

1

33,201

0.02

0.01

Knox

51

0

0

0

5

56

389

2.01

1.08

Lake

1

58

0

0

57

116

806

0.97

0.52

Lawrence

24

0

0

0

5

29

938

0.83

0.45

Licking

1

2

0

0

41

44

1,335

0.59

0.31

Logan

0

0

0

0

12

12

1,798

0.44

0.23

Lorain

0

133

0

0

10

143

779

1.01

0.54

Lucas

1

35

0

0

275

311

631

1.24

0.66

Madison

3

12

0

0

6

21

683

1.15

0.61

Mahoning

89

16

0

0

87

192

582

1.34

0.72

Marion

0

2

0

0

0

2

13,105

0.06

0.03

Medina

146

32

0

0

20

198

287

2.73

1.46

Mercer

0

0

0

0

3

3

5,292

0.15

0.08

Miami

1

2

0

0

1

4

10,139

0.08

0.04

Montgomery

91

246

0

0

434

771

322

2.43

1.30

Morgan

0

0

0

0

0

0

n/a 

0.00

0.00

Morrow

0

1

0

0

3

4

3,033

0.26

0.14

Muskingum

18

5

0

0

26

49

718

1.09

0.58

Ottawa

0

17

0

0

1

18

1,418

0.55

0.29

Perry

1

4

0

0

2

7

1,951

0.40

0.21

Pickaway

49

8

0

0

12

69

270

2.90

1.55

Pike

1

0

0

0

4

5

2,320

0.34

0.18

Portage

79

73

0

0

41

193

311

2.51

1.34

Preble

0

1

0

0

1

2

8,593

0.09

0.05

Putnam

0

0

0

0

0

0

n/a 

0.00

0.00

Richland

58

52

0

0

17

127

418

1.87

1.00

Ross

50

1

0

0

15

66

446

1.75

0.94

Sandusky

0

1

0

0

10

11

2,296

0.34

0.18

Scioto

0

0

0

0

0

0

n/a 

0.00

0.00

Seneca

0

2

0

0

1

3

7,897

0.10

0.05

Shelby

0

4

0

0

2

6

3,114

0.25

0.13

Stark

99

139

0

0

167

405

388

2.02

1.08

Summit

426

570

0

0

160

1,156

200

3.92

2.10

Trumbull

2

6

0

0

45

53

1,795

0.44

0.23

Tuscarawas

0

13

0

0

20

33

1,155

0.68

0.36

Union

0

0

0

0

3

3

5,072

0.15

0.08

Van Wert

0

0

0

0

3

3

4,121

0.19

0.10

Vinton

0

0

0

0

1

1

5,653

0.14

0.07

Warren

121

77

0

0

20

218

269

2.91

1.55

Washington

0

6

0

0

4

10

2,776

0.28

0.15

Wayne

61

26

0

0

20

107

396

1.98

1.06

Williams

0

8

0

0

1

9

1,793

0.44

0.23

Wood

1

24

0

0

0

25

1,899

0.41

0.22

Wyandot

5

1

0

0

0

6

1,554

0.50

0.27

 

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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