ILLINOIS FORECLOSURES DOWN 8 PERCENT IN JUNE

Activity Up 56 Percent From a Year Ago Despite Monthly Decline

 

IRVINE, Calif. – July 31, 2006 – Illinois reported 5,880 properties entered some stage of the foreclosure process in June, an 8 percent decline from the 6,359 properties reported in May, but still 56 percent above the 3,765 properties reported for the same month last year, according to the RealtyTrac™ June 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.

 

“In Illinois, like in many parts of the country right now, jobs are being created in many business sectors but the rate of job growth isn’t enough to counter the increased cost of living due to higher energy costs and interest rates,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, with the state’s economy continuing to show signs of improvement it is not surprising that the amount of new foreclosures has decreased slightly.”

 

For June, Illinois posted the fifth highest foreclosure total in the country behind Texas, California, Florida and Ohio. The state’s foreclosure rate of one new foreclosure filing for every 832 households ranks seventh highest in the nation — almost 1.6 times the national average.

 

Cook County Accounts for Lion’s Share of State’s Foreclosure Activity

Reporting 3,335 properties in some stage of the foreclosure process, the largest share of the state’s foreclosures in June were found in Cook County. Other counties reporting notable levels of foreclosures for the month included Lake County with 461 properties, Will County with 428 properties, Kane County with 366 properties and Du Page County with 283 properties in foreclosure.

 

Kane County Posts Highest Foreclosure Rate

Kane County posted the state’s highest foreclosure rate in June, with one new foreclosure filing for every 380 households — 2.2 times the state average and 3.5 times the national average.  With one new foreclosure filing for every 410 households — twice the state average and 3.2 times the national average — Will County had the second highest foreclosure rate in the state. Completing the top five counties are Winnebago County reporting one new foreclosure filing for every 459 households, Mchenry County reporting one new foreclosure filing for every 489 households and Lake County reporting one new foreclosure filing for every 490 households.

 

State Total a Significant Contribution to Monthly National Total

Illinois‘ foreclosure total accounted for almost 7 percent of the 88,194 properties entering some stage of foreclosure nationwide in June. The national total represents a 5 percent decline from the May total of 92,746 foreclosures. The nation’s foreclosure rate declined to one new foreclosure filing for every 1,311 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 – June 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

21,866

38,382

2,966

9,598

15,382

88,194

1,311

Illinois

3,940

1,274

0

0

666

5,880

832

1.576

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

1

2

14,693

0.09

0.06

Bond

0

0

0

0

0

0

 

0.00

0.00

Boone

2

0

0

0

2

4

3,854

0.34

0.22

Bureau

0

0

0

0

0

0

 

0.00

0.00

Carroll

0

0

0

0

1

1

7,945

0.17

0.10

Cass

0

0

0

0

0

0

 

0.00

0.00

Champaign

18

0

0

0

4

22

3,422

0.38

0.24

Christian

0

0

0

0

1

1

14,992

0.09

0.06

Clinton

1

0

0

0

4

5

2,761

0.47

0.30

Coles

5

0

0

0

1

6

3,795

0.35

0.22

Cook

2,274

818

0

0

243

3,335

629

2.09

1.32

Crawford

0

0

0

0

1

1

8,785

0.15

0.09

De Kalb

19

17

0

0

4

40

825

1.59

1.01

Dewitt

0

0

0

0

0

0

 

0.00

0.00

Douglas

0

0

0

0

0

0

 

0.00

0.00

Du Page

185

79

0

0

19

283

1,186

1.11

0.70

Effingham

0

0

0

0

0

0

 

0.00

0.00

Ford

0

0

0

0

0

0

 

0.00

0.00

Franklin

0

0

0

0

0

0

 

0.00

0.00

Fulton

0

0

0

0

1

1

16,240

0.08

0.05

Greene

0

0

0

0

0

0

 

0.00

0.00

Grundy

1

0

0

0

0

1

15,040

0.09

0.06

Hamilton

0

0

0

0

0

0

 

0.00

0.00

Hancock

0

0

0

0

0

0

 

0.00

0.00

Henry

1

0

0

0

0

1

21,270

0.06

0.04

Iroquois

0

1

0

0

1

2

6,681

0.20

0.12

Jackson

0

0

0

0

0

0

 

0.00

0.00

Jefferson

0

0

0

0

1

1

16,990

0.08

0.05

Jersey

0

0

0

0

1

1

8,918

0.15

0.09

Jo Daviess

0

0

0

0

0

0

 

0.00

0.00

Kane

251

70

0

0

45

366

380

3.45

2.19

Kankakee

9

1

0

0

8

18

2,256

0.58

0.37

Kendall

18

8

0

0

1

27

723

1.81

1.15

Knox

0

0

0

0

1

1

23,717

0.06

0.04

La Salle

5

2

0

0

4

11

4,222

0.31

0.20

Lake

311

100

0

0

50

461

490

2.68

1.70

Lawrence

0

0

0

0

1

1

7,014

0.19

0.12

Lee

1

0

0

0

1

2

7,155

0.18

0.12

Livingston

1

0

0

0

1

2

7,649

0.17

0.11

Macon

9

1

0

0

33

43

1,168

1.12

0.71

Macoupin

0

0

0

0

0

0

 

0.00

0.00

Madison

22

3

0

0

16

41

2,657

0.49

0.31

Marion

0

1

0

0

0

1

18,022

0.07

0.05

Marshall

1

1

0

0

0

2

2,957

0.44

0.28

Mcdonough

0

0

0

0

0

0

 

0.00

0.00

Mchenry

114

51

0

0

25

190

489

2.68

1.70

Mclean

28

3

0

0

7

38

1,578

0.83

0.53

Menard

0

0

0

0

0

0

 

0.00

0.00

Mercer

0

1

0

0

0

1

7,109

0.18

0.12

Monroe

3

0

0

0

0

3

3,583

0.37

0.23

Morgan

0

0

0

0

0

0

 

0.00

0.00

Ogle

0

1

0

0

0

1

20,420

0.06

0.04

Peoria

30

0

0

0

20

50

1,564

0.84

0.53

Piatt

0

0

0

0

0

0

 

0.00

0.00

Putnam

0

0

0

0

0

0

 

0.00

0.00

Randolph

4

0

0

0

2

6

2,221

0.59

0.37

Rock Island

2

2

0

0

1

5

12,898

0.10

0.06

Saint Clair

78

12

0

0

31

121

863

1.52

0.96

Sangamon

35

8

0

0

20

63

1,356

0.97

0.61

Stephenson

0

1

0

0

0

1

21,713

0.06

0.04

Tazewell

23

0

0

0

10

33

1,605

0.82

0.52

Union

0

0

0

0

1

1

7,894

0.17

0.11

Vermilion

0

0

0

0

2

2

18,175

0.07

0.05

Wabash

0

0

0

0

0

0

 

0.00

0.00

Washington

0

0

0

0

1

1

6,385

0.21

0.13

White

1

0

0

0

0

1

7,393

0.18

0.11

Whiteside

1

1

0

0

0

2

12,513

0.10

0.07

Will

295

89

0

0

44

428

410

3.20

2.03

Williamson

0

0

0

0

1

1

27,703

0.05

0.03

Winnebago

192

2

0

0

55

249

459

2.85

1.81

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

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