INDIANA FORECLOSURES DOWN 15 PERCENT IN JUNE

Activity Up 39 Percent From a Year Ago Despite Monthly Decline

 

IRVINE, Calif. – July 31, 2006 – Indiana reported 2,972 properties entered some stage of the foreclosure process in June, a 15 percent decline from the 3,494 properties reported in May, but still 39 percent above the 2,141 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.

 

“This is the second straight month of declining foreclosure levels in Indiana. And the year-over-year differential has gone down compared to May when it was 46 percent,” said James J. Saccacio, chief executive officer of RealtyTrac. “But while these are good signs of a recovering economy, rising short-term interest rates and a slowdown in the housing sector statewide can portend more foreclosures on the way.”

 

Far below the 11,355 foreclosures reported by national leader Texas, Indiana‘s total foreclosure activity was still high enough to place it 10th in the country overall. The state’s foreclosure rate of one new foreclosure filing for every 850 households ranked ninth highest in the nation — 1.5 times the national average.

 

Marion, Allen Counties Account for Lion’s Share of State’s Foreclosures

Marion County led the state, reporting 1,547 properties entering some stage of the foreclosure process during June, while Allen County reported 285 new foreclosure filings. Together, the two accounted for 73 percent of the state total for the month. The only other significant foreclosure activity was found in St. Joseph County, reporting 176 new foreclosure filings, Madison County, reporting 139 new foreclosure filings, and Lake County reporting 118 properties in the foreclosure pipeline.

 

Highest Foreclosure Rates in Marion, Wayne Counties

Marion County posted the state’s highest foreclosure rate in June, with one new foreclosure filing for every 250 households — 3.4 times the state average and 5.2 times the national average.  With one new foreclosure filing for every 272 households — 3.1 times the state average and 4.8 times the national average — Wayne County had the second highest foreclosure rate in the state. Completing the top five counties were Perry County reporting one new foreclosure filing for every 358 households, Madison County reporting one new foreclosure filing for every 410 households and Allen County reporting one new foreclosure filing for every 487 households.

 

State Total a Significant Contribution to Monthly National Total

Indiana‘s foreclosure total accounted for more than 3 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).

 

                          Indiana 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

Indiana

946

1,428

0

0

598

2,972

850

1.543

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

0

2

4

3,101

0.42

0.27

Allen

131

74

0

0

80

285

487

2.69

1.74

Bartholomew

0

0

0

0

1

1

29,853

0.04

0.03

Blackford

0

9

0

0

0

9

684

1.92

1.24

Boone

0

3

0

0

0

3

5,976

0.22

0.14

Brown

0

0

0

0

0

0

0.00

0.00

Carroll

0

1

0

0

0

1

8,675

0.15

0.10

Cass

0

2

0

0

0

2

8,310

0.16

0.10

Clark

1

3

0

0

0

4

10,294

0.13

0.08

Clay

0

3

0

0

1

4

2,774

0.47

0.31

Clinton

0

0

0

0

3

3

4,422

0.30

0.19

Crawford

0

1

0

0

0

1

5,138

0.26

0.17

Daviess

1

1

0

0

1

3

3,966

0.33

0.21

De Kalb

0

1

0

0

0

1

16,144

0.08

0.05

Dearborn

0

8

0

0

0

8

2,224

0.59

0.38

Delaware

0

1

0

0

5

6

8,505

0.15

0.10

Dubois

1

0

0

0

0

1

15,511

0.08

0.05

Elkhart

0

20

0

0

31

51

1,329

0.99

0.64

Fayette

0

1

0

0

0

1

10,981

0.12

0.08

Floyd

0

0

0

0

0

0

 

0.00

0.00

Fountain

0

1

0

0

0

1

7,692

0.17

0.11

Franklin

0

0

0

0

0

0

 

0.00

0.00

Gibson

0

11

0

0

1

12

1,177

1.11

0.72

Grant

1

3

0

0

12

16

1,910

0.69

0.44

Hamilton

1

2

0

0

2

5

12,896

0.10

0.07

Hancock

1

39

0

0

3

43

506

2.59

1.68

Hendricks

0

1

0

0

6

7

5,604

0.23

0.15

Henry

0

0

0

0

2

2

10,296

0.13

0.08

Howard

2

7

0

0

2

11

3,419

0.38

0.25

Huntington

0

1

0

0

1

2

7,635

0.17

0.11

Jackson

0

0

0

0

1

1

17,137

0.08

0.05

Jasper

0

2

0

0

8

10

1,124

1.17

0.76

Jay

0

0

0

0

0

0

 

0.00

0.00

Jefferson

0

0

0

0

0

0

 

0.00

0.00

Johnson

1

2

0

0

5

8

5,637

0.23

0.15

Knox

1

6

0

0

1

8

2,163

0.61

0.39

Kosciusko

1

0

0

0

0

1

32,188

0.04

0.03

La Porte

1

0

0

0

16

17

2,684

0.49

0.32

Lake

6

11

0

0

101

118

1,652

0.79

0.51

Lawrence

1

0

0

0

2

3

6,853

0.19

0.12

Madison

4

125

0

0

10

139

410

3.20

2.07

Marion

739

573

0

0

235

1,547

250

5.24

3.40

Marshall

0

0

0

0

1

1

18,099

0.07

0.05

Miami

0

0

0

0

1

1

15,299

0.09

0.06

Monroe

0

51

0

0

0

51

997

1.32

0.85

Montgomery

0

1

0

0

0

1

15,678

0.08

0.05

Morgan

10

11

0

0

1

22

1,178

1.11

0.72

Noble

4

19

0

0

0

23

793

1.65

1.07

Ohio

0

0

0

0

1

1

2,424

0.54

0.35

Owen

0

0

0

0

1

1

9,853

0.13

0.09

Parke

0

1

0

0

0

1

7,539

0.17

0.11

Perry

11

10

0

0

2

23

358

3.67

2.38

Porter

0

1

0

0

0

1

57,616

0.02

0.01

Posey

1

0

0

0

0

1

11,076

0.12

0.08

Pulaski

0

0

0

0

1

1

5,918

0.22

0.14

Putnam

0

0

0

0

2

2

6,753

0.19

0.13

Randolph

0

11

0

0

7

18

654

2.00

1.30

Ripley

0

0

0

0

0

0

 

0.00

0.00

Rush

0

0

0

0

1

1

7,337

0.18

0.12

Scott

0

0

0

0

1

1

9,737

0.13

0.09

Shelby

1

0

0

0

4

5

3,527

0.37

0.24

Spencer

2

2

0

0

0

4

2,083

0.63

0.41

St Joseph

8

164

0

0

4

176

608

2.16

1.40

Starke

1

0

0

0

2

3

3,400

0.39

0.25

Steuben

1

0

0

0

1

2

8,669

0.15

0.10

Sullivan

0

1

0

0

0

1

8,804

0.15

0.10

Switzerland

0

0

0

0

0

0

 

0.00

0.00

Tippecanoe

2

1

0

0

1

4

14,586

0.09

0.06

Tipton

0

1

0

0

0

1

6,848

0.19

0.12

Union

0

1

0

0

0

1

3,077

0.43

0.28

Vanderburgh

1

49

0

0

2

52

1,467

0.89

0.58

Vermillion

0

2

0

0

0

2

3,703

0.35

0.23

Vigo

2

86

0

0

1

89

508

2.58

1.67

Wabash

0

2

0

0

0

2

7,017

0.19

0.12

Warrick

8

17

0

0

1

26

790

1.66

1.08

Wayne

0

81

0

0

31

112

272

4.82

3.12

Wells

1

0

0

0

0

1

10,970

0.12

0.08

Whitley

0

2

0

0

0

2

6,273

0.21

0.14

 

 

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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