OHIO FORECLOSURE ACTIVITY DECREASE 9 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Total Up 17 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Oct. 11, 2006 – Ohio reported 6,794 properties entering some stage of the foreclosure process in September, a 9 percent decrease from the 7,468 properties reported in August, but still a 17 percent gain from the 5,799 properties reported for the same month last year, according to the RealtyTrac™ September 2006 U.S. Foreclosure Market Report. The state had the ninth highest foreclosure rate in the nation for the month — reporting one new foreclosure filing for every 704 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.

 

“A slight improvement in job growth, and a modest increase in home prices slowed the foreclosure rate slightly last month in Ohio,” said James J. Saccacio, chief executive officer of RealtyTrac. “But as winter approaches rising energy prices and higher interest rates could push a growing number of distressed homeowners into foreclosure.”

 

Cuyahoga, Franklin, Montgomery counties lead state in activity

Three counties accounted for 57 percent of all foreclosure activity in Ohio for September. Cuyahoga County led the state reporting 1,431 properties entering some stage of the foreclosure process during the month. Franklin County registered the second highest total, reporting 1,405 properties in some stage of the foreclosure process for the month. Montgomery County reported the third highest total with 1,018 properties in the foreclosure pipeline.

 

Montgomery County posts state’s top foreclosure rate

Montgomery County posted the top foreclosure rate in the state for September, reporting one new foreclosure filing for every 244 households — 2.9 times the state average and 4.2 times the national average. Next highest was Greene County reporting one new foreclosure filing for every 325 households — 2.2 times the state average and 3.2 times the national average. The third highest rate in the state was found in Franklin County, which reported one new foreclosure filing for every 335 households — 2.1 times the state average and 3.1 times the national average.

 

State total a significant contributor to monthly national total

Ohio’s foreclosure activity accounted for 6 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents a 1 percent decrease 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).

 

                        Ohio 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

Ohio

95

3,390

0

0

3,309

6,794

704

1.46

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

11,822

0.09

0.06

Allen

1

3

0

0

0

4

11,061

0.09

0.06

Ashland

0

0

0

0

9

9

2,315

0.45

0.30

Ashtabula

0

50

0

0

16

66

664

1.55

1.06

Athens

0

1

0

0

5

6

4,150

0.25

0.17

Auglaize

0

6

0

0

1

7

2,640

0.39

0.27

Belmont

0

0

0

0

3

3

10,412

0.10

0.07

Brown

0

1

0

0

3

4

4,298

0.24

0.16

Butler

2

6

0

0

85

93

1,396

0.74

0.50

Carroll

0

1

0

0

7

8

1,627

0.63

0.43

Champaign

0

3

0

0

3

6

2,648

0.39

0.27

Clark

0

3

0

0

45

48

1,272

0.81

0.55

Clermont

1

40

0

0

44

85

814

1.27

0.86

Clinton

1

4

0

0

0

5

3,315

0.31

0.21

Columbiana

0

6

0

0

13

19

2,425

0.42

0.29

Coshocton

0

0

0

0

6

6

2,685

0.38

0.26

Crawford

0

1

0

0

1

2

10,589

0.10

0.07

Cuyahoga

26

570

0

0

835

1,431

431

2.39

1.63

Darke

0

0

0

0

16

16

1,349

0.76

0.52

Defiance

0

0

0

0

1

1

16,040

0.06

0.04

Delaware

0

4

0

0

30

34

1,246

0.83

0.56

Erie

1

7

0

0

3

11

3,182

0.32

0.22

Fairfield

1

94

0

0

21

116

414

2.49

1.70

Fayette

0

0

0

0

7

7

1,701

0.61

0.41

Franklin

17

778

0

0

610

1,405

335

3.07

2.10

Fulton

0

0

0

0

5

5

3,246

0.32

0.22

Geauga

0

1

0

0

6

7

4,686

0.22

0.15

Greene

0

41

0

0

138

179

325

3.17

2.16

Guernsey

0

1

0

0

1

2

9,386

0.11

0.08

Hamilton

2

396

0

0

6

404

924

1.11

0.76

Hancock

1

1

0

0

13

15

1,986

0.52

0.35

Hardin

0

4

0

0

10

14

922

1.12

0.76

Harrison

1

0

0

0

0

1

7,680

0.13

0.09

Highland

0

20

0

0

9

29

606

1.70

1.16

Holmes

0

1

0

0

0

1

12,280

0.08

0.06

Huron

0

0

0

0

0

0

0.00

0.00

Jefferson

0

1

0

0

0

1

33,201

0.03

0.02

Knox

0

0

0

0

10

10

2,179

0.47

0.32

Lake

0

89

0

0

30

119

786

1.31

0.90

Lawrence

0

0

0

0

9

9

3,021

0.34

0.23

Licking

0

1

0

0

57

58

1,013

1.02

0.69

Logan

0

0

0

0

8

8

2,696

0.38

0.26

Lorain

4

142

0

0

70

216

516

2.00

1.37

Lucas

2

23

0

0

69

94

2,088

0.49

0.34

Madison

0

2

0

0

8

10

1,434

0.72

0.49

Mahoning

5

5

0

0

21

31

3,605

0.29

0.20

Marion

1

2

0

0

1

4

6,552

0.16

0.11

Medina

0

0

0

0

11

11

5,163

0.20

0.14

Mercer

0

1

0

0

3

4

3,969

0.26

0.18

Miami

0

2

0

0

2

4

10,139

0.10

0.07

Montgomery

9

422

0

0

587

1,018

244

4.22

2.88

Morgan

0

0

0

0

0

0

0.00

0.00

Morrow

0

0

0

0

6

6

2,022

0.51

0.35

Muskingum

0

1

0

0

9

10

3,516

0.29

0.20

Ottawa

0

4

0

0

0

4

6,383

0.16

0.11

Perry

1

1

0

0

0

2

6,828

0.15

0.10

Pickaway

0

0

0

0

11

11

1,691

0.61

0.42

Pike

0

0

0

0

9

9

1,289

0.80

0.55

Portage

1

53

0

0

23

77

780

1.32

0.90

Preble

0

0

0

0

1

1

17,186

0.06

0.04

Putnam

1

0

0

0

0

1

12,753

0.08

0.06

Richland

0

76

0

0

31

107

496

2.08

1.42

Ross

0

0

0

0

23

23

1,281

0.80

0.55

Sandusky

1

0

0

0

6

7

3,608

0.29

0.20

Seneca

0

0

0

0

2

2

11,846

0.09

0.06

Shelby

1

14

0

0

0

15

1,245

0.83

0.57

Stark

4

137

0

0

65

206

762

1.35

0.92

Summit

6

242

0

0

143

391

590

1.75

1.19

Trumbull

3

8

0

0

50

61

1,559

0.66

0.45

Tuscarawas

0

1

0

0

16

17

2,242

0.46

0.31

Union

1

0

0

0

3

4

3,804

0.27

0.19

Van Wert

0

0

0

0

2

2

6,182

0.17

0.11

Warren

0

54

0

0

41

95

618

1.67

1.14

Washington

0

2

0

0

5

7

3,966

0.26

0.18

Wayne

1

33

0

0

23

57

743

1.39

0.95

Williams

0

12

0

0

0

12

1,345

0.77

0.52

Wood

0

19

0

0

1

20

2,373

0.43

0.30

Wyandot

0

0

0

0

0

0

0.00

0.00

 

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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