ILLINOIS FORECLOSURES INCREASE 40 PERCENT IN APRIL

Activity Up 99 Percent From a Year Ago

Cook County Posts State’s Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – Illinois reported 6,451 properties entering some stage of foreclosure in April, a 40 percent increase from the previous month and a 99 percent increase from the 3,236 foreclosures reported in April 2005, according to RealtyTrac’s April 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.

 

Illinois holds one of the higher foreclosure rates in the nation and that number appears to be climbing,” said James J. Saccacio, chief executive officer of RealtyTrac. “Continued job losses in the manufacturing sector and slower home value appreciation are contributing to the persistent rise.”

 

With one foreclosure filing for every 758 households (1.7 times the national average), Illinois‘ foreclosure rate ranked 10th in the country. Overall, the state total accounted for 7.1 percent of the nation’s foreclosures with only three states – Texas, California and Florida –  reporting more filings for the month.

 

Reporting 4,008 properties entering some stage of foreclosure, Cook County accounted for the majority of the state’s foreclosure filings for April. The county’s foreclosure rate of one foreclosure filing for every 523 households was the highest in the state and almost 1.5 times the state average.

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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 — April 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

Illinois

3,914

1,465

0

0

1,072

6,451

758

1.67

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

3

4

7347

0.17

0.10

Boone

0

0

0

0

2

2

7707

0.16

0.10

Bureau

0

0

0

0

2

2

7666

0.17

0.10

Champaign

28

0

0

0

14

42

1792

0.71

0.42

Christian

1

0

0

0

0

1

14992

0.08

0.05

Clark

0

0

0

0

2

2

3908

0.32

0.19

Clay

0

0

0

0

1

1

6394

0.20

0.12

Clinton

3

0

0

0

1

4

3451

0.37

0.22

Coles

0

0

0

0

1

1

22768

0.06

0.03

Cook

2,415

1,021

0

0

572

4,008

523

2.43

1.45

De Kalb

41

12

0

0

3

56

589

2.15

1.29

Douglas

0

0

0

0

1

1

8005

0.16

0.09

Du Page

172

94

0

0

23

289

1161

1.09

0.65

Fayette

0

0

0

0

2

2

4527

0.28

0.17

Franklin

0

0

0

0

0

0

 

0.00

0.00

Fulton

0

1

0

0

2

3

5413

0.23

0.14

Grundy

8

0

0

0

4

12

1253

1.01

0.60

Henry

1

1

0

0

1

3

7090

0.18

0.11

Iroquois

1

0

0

0

0

1

13362

0.09

0.06

Jackson

0

0

0

0

0

0

 

0.00

0.00

Jefferson

0

2

0

0

0

2

8495

0.15

0.09

Jersey

0

0

0

0

3

3

2973

0.43

0.26

Kane

111

49

0

0

10

170

818

1.55

0.93

Kankakee

34

2

0

0

12

48

846

1.50

0.90

Kendall

27

18

0

0

0

45

434

2.92

1.75

Knox

0

0

0

0

2

2

11859

0.11

0.06

La Salle

10

2

0

0

3

15

3096

0.41

0.24

Lake

234

65

0

0

74

373

606

2.09

1.25

Lawrence

0

0

0

0

1

1

7014

0.18

0.11

Lee

0

1

0

0

1

2

7155

0.18

0.11

Logan

1

0

0

0

1

2

5936

0.21

0.13

Macon

27

1

0

0

19

47

1069

1.19

0.71

Macoupin

0

0

0

0

4

4

5274

0.24

0.14

Madison

31

4

0

0

19

54

2017

0.63

0.38

Marion

0

0

0

0

1

1

18022

0.07

0.04

Mason

1

0

0

0

1

2

3517

0.36

0.22

Mchenry

123

32

0

0

24

179

519

2.44

1.46

Mclean

17

0

0

0

15

32

1874

0.68

0.40

Mercer

0

1

0

0

0

1

7109

0.18

0.11

Monroe

11

0

0

0

1

12

896

1.42

0.85

Montgomery

1

0

0

0

0

1

12525

0.10

0.06

Morgan

0

1

0

0

0

1

15291

0.08

0.05

Moultrie

0

0

0

0

0

0

 

0.00

0.00

Ogle

0

1

0

0

3

4

5105

0.25

0.15

Peoria

22

3

0

0

29

54

1448

0.88

0.52

Piatt

0

1

0

0

0

1

6798

0.19

0.11

Randolph

4

0

0

0

1

5

2666

0.48

0.28

Richland

1

0

0

0

0

1

7468

0.17

0.10

Rock Island

3

1

0

0

7

11

5863

0.22

0.13

Saint Clair

103

3

0

0

19

125

836

1.52

0.91

Saline

0

0

0

0

2

2

6180

0.21

0.12

Sangamon

29

3

0

0

29

61

1401

0.91

0.54

Shelby

0

0

0

0

1

1

10060

0.13

0.08

Stephenson

1

0

0

0

3

4

5428

0.23

0.14

Tazewell

46

1

0

0

18

65

815

1.56

0.93

Vermilion

0

2

0

0

6

8

4544

0.28

0.17

Whiteside

0

0

0

0

1

1

25025

0.05

0.03

Will

404

138

0

0

91

633

277

4.57

2.73

Will

404

138

0

0

91

633

27703

0.05

0.03

Williamson

0

0

0

0

1

1

2790

0.45

0.27

Winnebago

2

4

0

0

35

41

6744

0.19

0.11

Woodford

1

0

0

0

1

2

7347

0.17

0.10

 

 

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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