ILLINOIS FORECLOSURES DOWN 15 PERCENT IN JULY

Activity Up 21 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – August 11, 2006 – Illinois reported 5,018 properties entering some stage of the foreclosure process in July, a 15 percent decline from the 5,880 properties reported in June, but still 21 percent above the 4,138 properties reported for the same month last year, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“This is the third straight monthly decline in foreclosures for Illinois, which still had the sixth highest foreclosure total in the nation for August despite these improvements,” said James J. Saccacio, chief executive officer of RealtyTrac. “Like much of the country Illinois suffered from a softer real estate sector with fewer home sales and a lower rate of price appreciation during the second quarter of 2006.”

 

Illinois‘ foreclosure activity totaled 400 fewer foreclosures than fifth place Ohio, and 1,000 fewer than fourth place Michigan. California reported 5,000 more foreclosures than Illinois and Florida 5,700 more foreclosures. National leader Texas had 8,000 more foreclosures than Illinois. The state’s foreclosure rate of one new foreclosure filing for every 975 households ranks 10th highest in the nation — almost 1.3 times the national average.

 

Coles County accounts for majority of state activity

Reporting 3,024 properties entering some stage of the foreclosure process, Coles County accounted for 60 percent of all foreclosure activity in the state for July. The second highest total in the state was reported by Will County with 441 properties entering some stage of the process. The third highest total was reported in Kane County with 314 properties in the foreclosure pipeline.

 

Highest foreclosure rate in Will County

Will County had the state’s highest foreclosure rate in August, reporting one new foreclosure filing for every 398 households — 2.5 times the state average and 3.1 times the national average.  Marion County had the second highest rate reporting one new foreclosure filing for every 525 households — 1.9 times the state average and 2.4 times the national average. Boone County completed the top three, reporting one new foreclosure filing for every 532 households — 1.8 times the state average and 2.3 times the national average.

 

State activity made contributed to monthly national total

Illinois’ foreclosures accounted for more than 5 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 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).

 

                           Illinois Foreclosure Market by County – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Illinois

1,765

242

684

1,682

645

5,018

975

1.28

 

 

 

 

 

 

 

 

 

 

Adams

0

0

2

0

0

2

14,693

0.08

0.07

Bond

1

0

0

0

0

1

6,690

0.19

0.15

Boone

19

0

0

4

6

29

532

2.34

1.83

Bureau

0

0

0

0

2

2

7,666

0.16

0.13

Carroll

10

0

0

0

1

11

6,844

0.18

0.14

Cass

0

0

0

0

1

1

14,992

0.08

0.07

Champaign

0

0

0

0

1

1

6,394

0.19

0.15

Christian

2

0

0

1

1

4

3,451

0.36

0.28

Clinton

0

0

0

2

5

7

3,253

0.38

0.30

Coles

1,018

130

453

1,024

399

3,024

693

1.80

1.41

Cook

15

1

8

24

1

49

673

1.85

1.45

Crawford

0

0

0

1

1

2

3,641

0.34

0.27

De Kalb

0

0

0

0

1

1

8,005

0.16

0.12

Dewitt

89

12

15

119

12

247

1,359

0.92

0.72

Douglas

0

0

0

0

0

0

0.00

0.00

Du Page

0

0

1

0

1

2

9,053

0.14

0.11

Effingham

0

0

1

0

0

1

16,240

0.08

0.06

Ford

0

0

0

0

0

0

0.00

0.00

Franklin

8

0

0

0

4

12

1,253

0.99

0.78

Fulton

0

0

0

0

0

0

0.00

0.00

Greene

0

0

1

0

0

1

21,270

0.06

0.05

Grundy

0

0

0

0

0

0

0.00

0.00

Hamilton

0

0

0

0

0

0

0.00

0.00

Hancock

0

0

0

0

0

0

0.00

0.00

Henry

0

0

0

0

0

0

0.00

0.00

Iroquois

108

7

19

84

26

244

570

2.19

1.71

Jackson

19

0

2

12

21

54

752

1.66

1.30

Jefferson

4

2

3

11

0

20

976

1.28

1.00

Jersey

0

0

0

0

7

7

3,388

0.37

0.29

Jo Daviess

0

0

5

1

4

10

4,644

0.27

0.21

Kane

92

19

48

124

31

314

719

1.73

1.35

Kankakee

0

0

0

0

1

1

7,014

0.18

0.14

Kendall

0

0

0

1

0

1

14,310

0.09

0.07

Knox

0

0

0

0

1

1

15,297

0.08

0.06

La Salle

46

0

4

0

16

66

761

1.64

1.28

Lake

0

0

0

1

2

3

7,032

0.18

0.14

Lawrence

0

0

3

0

1

4

27,236

0.05

0.04

Lee

0

0

1

0

2

3

6,007

0.21

0.16

Livingston

0

0

0

0

0

0

0.00

0.00

Macon

0

0

0

0

1

1

7,033

0.18

0.14

Macoupin

0

0

0

0

0

0

0.00

0.00

Madison

0

0

1

0

0

1

13,289

0.09

0.07

Marion

55

13

24

71

14

177

525

2.37

1.86

Marshall

7

0

2

4

11

24

2,499

0.50

0.39

Mcdonough

0

0

0

0

0

0

0.00

0.00

Mchenry

0

0

2

0

0

2

3,555

0.35

0.27

Mclean

0

0

0

0

0

0

0.00

0.00

Menard

0

0

0

0

0

0

0.00

0.00

Mercer

0

0

0

0

0

0

0.00

0.00

Monroe

0

0

1

0

0

1

20,420

0.06

0.05

Morgan

27

1

5

4

8

45

1,738

0.72

0.56

Ogle

0

0

1

0

0

1

9,457

0.13

0.10

Peoria

0

0

1

0

1

2

3,399

0.37

0.29

Piatt

0

0

0

0

1

1

8,011

0.16

0.12

Putnam

0

0

0

0

0

0

0.00

0.00

Randolph

0

0

0

0

0

0

0.00

0.00

Rock Island

0

0

0

0

0

0

0.00

0.00

Saint Clair

0

0

3

0

1

4

16,122

0.08

0.06

Sangamon

21

0

12

3

5

41

2,547

0.49

0.38

Stephenson

15

0

6

4

8

33

2,590

0.48

0.38

Tazewell

0

0

0

0

0

0

0.00

0.00

Union

0

0

0

0

3

3

7,238

0.17

0.13

Vermilion

20

0

3

10

12

45

1,177

1.06

0.83

Wabash

0

0

0

0

2

2

18,175

0.07

0.05

Washington

0

0

0

0

0

0

0.00

0.00

White

0

0

0

0

1

1

6,385

0.20

0.15

Whiteside

0

0

0

0

1

1

25,025

0.05

0.04

Will

160

57

53

151

20

441

398

3.13

2.45

Williamson

0

0

0

0

0

0

0.00

0.00

Winnebago

29

0

4

26

8

67

1,708

0.73

0.57

Woodford

0

0

0

0

0

0

0.00

0.00

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved