GEORGIA FORECLOSURES DECREASE 13 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 61 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Oct. 11, 2006 – Indiana reported 3,968 properties entering some stage of the foreclosure process in September, a 12 percent increase in activity from the 3,543 properties reported in August, and up 61 percent from the 2,458 properties reported for the same month last year, according to the RealtyTrac™ September 2006 U.S. Foreclosure Market Report. The state had the sixth highest foreclosure rate in the nation for the month — reporting one new foreclosure filing for every 636 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

“The rate of job growth in Indiana has improved slightly, but still remains well below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “Indiana’s foreclosure rates are rising because borrowers with adjustable-rate mortgages appear to be more vulnerable right now.”

 

Ranked ninth nationally in total foreclosure activity for September, Indiana trails far behind national leader California which reported 3.5 times as many foreclosures during the month. Second place Florida had three times as many foreclosures as Indiana for the month. However, less than 1,000 foreclosures separated Indiana from 10th place New York. The state’s foreclosure rate was 1.6 times the national average for the month.

 

Marion County accounts for more than half of state total

Reporting 2,149 properties entering some stage of the foreclosure process, Marion County accounted for 54 percent of all foreclosures in Indiana for September. The next highest total of foreclosure activity for the month was found in Lake County which reported 373 properties entering some stage of the foreclosure process, followed by Allen County where 282 foreclosures were reported.

 

Marion, Allen and Lake counties post state’s highest foreclosure rates

Reporting one new foreclosure filing for every 180 households — 3.5 times the state average and 5.7 times the national average — Marion County had the highest foreclosure rate in Indiana for September. The next highest rate was reported in Dearborn County with one new foreclosure filing for every 387 households — 1.7 times the state average and 2.7 times the national average. Randolph County had the third highest foreclosure rate, reporting one new foreclosure filing for every 491 households — 1.3 times the state average and twice the national average.

 

State makes notable contribution to national total

Indiana’s foreclosure activity accounted for 4 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents a 1 percent decrease in activity from the 113,300 foreclosures reported in August. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,030 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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                   Indiana Foreclosure Market by County – September 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

25,379

43,840

6,285

19,338

17,368

112,210

1,030

Indiana

1,578

1,764

0

0

626

3,968

636

1.6

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

0

6

8

1,551

0.66

0.41

Allen

72

137

0

0

73

282

493

2.09

1.29

Bartholomew

2

21

0

0

0

23

1,298

0.79

0.49

Benton

0

0

0

0

0

0

0.00

0.00

Blackford

0

0

0

0

0

0

0.00

0.00

Boone

0

0

0

0

1

1

17,929

0.06

0.04

Brown

0

0

0

0

1

1

7,163

0.14

0.09

Carroll

0

1

0

0

1

2

4,338

0.24

0.15

Cass

1

0

0

0

1

2

8,310

0.12

0.08

Clark

1

0

0

0

0

1

41,176

0.03

0.02

Clay

0

1

0

0

0

1

11,097

0.09

0.06

Clinton

1

0

0

0

0

1

13,267

0.08

0.05

Davies

0

2

0

0

0

2

5,949

0.17

0.11

De Kalb

0

1

0

0

0

1

16,144

0.06

0.04

Dearborn

0

46

0

0

0

46

387

2.66

1.65

Decatur

0

0

0

0

1

1

9,992

0.10

0.06

Delaware

1

26

0

0

2

29

1,760

0.59

0.36

Dubois

1

0

0

0

0

1

15,511

0.07

0.04

Elkhart

1

56

0

0

24

81

837

1.23

0.76

Fayette

0

6

0

0

0

6

1,830

0.56

0.35

Floyd

1

5

0

0

0

6

4,848

0.21

0.13

Franklin

0

0

0

0

0

0

0.00

0.00

Fulton

0

15

0

0

0

15

608

1.69

1.05

Gibson

0

23

0

0

0

23

614

1.68

1.04

Grant

22

0

0

0

0

22

1,389

0.74

0.46

Greene

17

2

0

0

0

19

792

1.30

0.80

Hamilton

1

5

0

0

32

38

1,697

0.61

0.38

Hancock

1

18

0

0

2

21

1,036

0.99

0.61

Harrison

0

1

0

0

0

1

13,699

0.08

0.05

Hendricks

2

2

0

0

0

4

9,807

0.11

0.06

Henry

0

3

0

0

11

14

1,471

0.70

0.43

Howard

1

5

0

0

0

6

6,267

0.16

0.10

Huntington

0

1

0

0

0

1

15,269

0.07

0.04

Jasper

0

0

0

0

4

4

2,809

0.37

0.23

Jay

0

1

0

0

0

1

9,074

0.11

0.07

Jennings

0

2

0

0

0

2

5,735

0.18

0.11

Johnson

1

7

0

0

0

8

5,637

0.18

0.11

Knox

10

3

0

0

0

13

1,331

0.77

0.48

Kosciusko

0

22

0

0

0

22

1,463

0.70

0.43

La Porte

2

1

0

0

0

3

15,207

0.07

0.04

Lagrange

0

2

0

0

0

2

6,469

0.16

0.10

Lake

12

258

0

0

103

373

523

1.97

1.22

Lawrence

0

0

0

0

2

2

10,280

0.10

0.06

Madison

0

79

0

0

4

83

686

1.50

0.93

Marion

1,338

474

0

0

337

2,149

180

5.72

3.53

Marshall

0

2

0

0

0

2

9,050

0.11

0.07

Monroe

0

1

0

0

0

1

50,846

0.02

0.01

Montgomery

0

0

0

0

0

0

0.00

0.00

Morgan

12

6

0

0

0

18

1,439

0.72

0.44

Newton

0

0

0

0

0

0

0.00

0.00

Noble

11

14

0

0

0

25

729

1.41

0.87

Ohio

0

0

0

0

0

0

0.00

0.00

Orange

0

3

0

0

0

3

2,783

0.37

0.23

Owen

0

1

0

0

0

1

9,853

0.10

0.06

Parke

0

1

0

0

0

1

7,539

0.14

0.08

Perry

1

1

0

0

0

2

4,112

0.25

0.15

Pike

0

1

0

0

0

1

5,611

0.18

0.11

Porter

0

2

0

0

2

4

14,404

0.07

0.04

Posey

0

0

0

0

1

1

11,076

0.09

0.06

Putnam

1

5

0

0

0

6

2,251

0.46

0.28

Randolph

4

15

0

0

5

24

491

2.10

1.30

Ripley

0

0

0

0

0

0

0.00

0.00

Rush

0

1

0

0

0

1

7,337

0.14

0.09

Scott

0

11

0

0

0

11

885

1.16

0.72

Shelby

0

0

0

0

1

1

17,633

0.06

0.04

Spencer

4

2

0

0

0

6

1,389

0.74

0.46

St Joseph

7

168

0

0

4

179

598

1.72

1.06

Starke

1

4

0

0

1

6

1,700

0.61

0.37

Switzerland

0

0

0

0

0

0

0.00

0.00

Tippecanoe

0

37

0

0

0

37

1,577

0.65

0.40

Union

1

3

0

0

0

4

769

1.34

0.83

Vanderburgh

3

134

0

0

2

139

549

1.88

1.16

Vermillion

0

1

0

0

0

1

7,405

0.14

0.09

Vigo

0

45

0

0

1

46

983

1.05

0.65

Wabash

2

0

0

0

1

3

4,678

0.22

0.14

Warrick

8

15

0

0

0

23

893

1.15

0.71

Washington

0

4

0

0

0

4

2,798

0.37

0.23

Wayne

10

57

0

0

0

67

455

2.27

1.40

Wells

0

0

0

0

3

3

3,657

0.28

0.17

White

1

2

0

0

0

3

4,028

0.26

0.16

Whitley

24

0

0

0

0

24

523

1.97

1.22

 

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 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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