OHIO FORECLOSURE ACTIVITY INCREASE 8 PERCENT IN OCTOBER

 

Total Up 56 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Nov. 10, 2006 – Ohio reported 7,319 properties entering some stage of the foreclosure process in October, an 8 percent increase from the 6,794 properties reported in September, and a 56 percent gain from the 4,700 properties reported for the same month last year, according to the RealtyTrac™ October 2006 U.S. Foreclosure Market Report. The state had the seventh highest foreclosure rate in the nation for the month — reporting one new foreclosure filing for every 654 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 and The Wall Street Journal’s Real Estate Journal.

 

Ohio’s foreclosure rate continues to rank among the highest in the country,” said James J. Saccacio, chief executive officer of RealtyTrac. “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 53 percent of all foreclosure activity in Ohio for October. Cuyahoga County led the state reporting 2,294 properties entering some stage of the foreclosure process during the month. Montgomery County registered the second highest total, reporting 830 properties in some stage of the foreclosure process for the month, followed by Franklin County reporting the third highest total with 789 properties in the foreclosure pipeline.

 

Cuyahoga County posts state’s top foreclosure rate

Cuyahoga County posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 269 households — 2.4 times the state average and 3.7 times the national average. Next highest was Montgomery County reporting one new foreclosure filing for every 299 households — 2.2 times the state average and 3.3 times the national average. The third highest rate in the state was found in Auglaize County, which reported one new foreclosure filing for every 324 households — twice 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 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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 – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

Ohio

187

3,275

0

0

3,857

7,319

654

1.53

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

0.00

0.00

Allen

6

1

0

0

3

10

4,425

0.23

0.15

Ashland

0

0

0

0

5

5

4,166

0.24

0.16

Ashtabula

1

22

0

0

48

71

617

1.62

1.06

Athens

0

0

0

0

5

5

4,980

0.20

0.13

Auglaize

0

21

0

0

36

57

324

3.09

2.02

Belmont

0

1

0

0

11

12

2,603

0.38

0.25

Brown

0

1

0

0

0

1

17,193

0.06

0.04

Butler

5

9

0

0

79

93

1,396

0.72

0.47

Carroll

0

0

0

0

0

0

0.00

0.00

Champaign

0

0

0

0

5

5

3,178

0.31

0.21

Clark

1

4

0

0

72

77

793

1.26

0.82

Clermont

0

3

0

0

107

110

629

1.59

1.04

Clinton

0

1

0

0

2

3

5526

0.18

0.12

Columbiana

0

2

0

0

10

12

3840

0.26

0.17

Coshocton

0

0

0

0

10

10

1611

0.62

0.41

Crawford

0

0

0

0

0

0

0.00

0.00

Cuyahoga

41

947

0

0

1,306

2,294

269

3.72

2.43

Darke

1

0

0

0

9

10

2158

0.46

0.30

Defiance

0

1

0

0

0

1

16040

0.06

0.04

Delaware

3

2

0

0

17

22

1926

0.52

0.34

Erie

0

6

0

0

1

7

5000

0.20

0.13

Fairfield

1

35

0

0

23

59

813

1.23

0.80

Fayette

0

0

0

0

12

12

992

1.01

0.66

Franklin

24

316

0

0

449

789

597

1.68

1.09

Fulton

0

2

0

0

5

7

2319

0.43

0.28

Geauga

1

0

0

0

4

5

6561

0.15

0.10

Greene

1

48

0

0

50

99

588

1.70

1.11

Guernsey

0

0

0

0

1

1

18771

0.05

0.03

Hamilton

17

451

0

0

9

477

783

1.28

0.83

Hancock

1

0

0

0

14

15

1986

0.50

0.33

Hardin

1

16

0

0

21

38

340

2.95

1.92

Harrison

0

0

0

0

0

0

0.00

0.00

Henry

0

4

0

0

0

4

2908

0.34

0.22

Highland

1

3

0

0

14

18

977

1.02

0.67

Hocking

0

1

0

0

1

2

6071

0.16

0.11

Holmes

1

0

0

0

0

1

12280

0.08

0.05

Huron

0

0

0

0

0

0

0.00

0.00

Jefferson

0

0

0

0

0

0

0.00

0.00

Knox

0

2

0

0

4

6

3632

0.28

0.18

Lake

0

57

0

0

38

95

984

1.02

0.66

Lawrence

0

0

0

0

6

6

4532

0.22

0.14

Licking

1

0

0

0

43

44

1335

0.75

0.49

Logan

0

0

0

0

0

0

0.00

0.00

Lorain

2

130

0

0

67

199

560

1.79

1.17

Lucas

5

390

0

0

71

466

421

2.38

1.55

Madison

0

24

0

0

6

30

478

2.09

1.37

Mahoning

4

13

0

0

52

69

1620

0.62

0.40

Marion

2

4

0

0

0

6

4368

0.23

0.15

Medina

1

1

0

0

14

16

3550

0.28

0.18

Meigs

0

0

0

0

0

0

0.00

0.00

Mercer

0

0

0

0

11

11

1443

0.69

0.45

Miami

1

0

0

0

3

4

10139

0.10

0.06

Montgomery

13

375

0

0

442

830

299

3.34

2.18

Morgan

0

1

0

0

0

1

7771

0.13

0.08

Morrow

0

0

0

0

3

3

4044

0.25

0.16

Muskingum

0

1

0

0

12

13

2705

0.37

0.24

Ottawa

0

16

0

0

1

17

1502

0.67

0.44

Pickaway

0

2

0

0

13

15

1240

0.81

0.53

Portage

1

1

0

0

32

34

1768

0.57

0.37

Preble

1

3

0

0

0

4

4297

0.23

0.15

Richland

2

30

0

0

34

66

804

1.24

0.81

Ross

0

0

0

0

11

11

2678

0.37

0.24

Sandusky

0

1

0

0

12

13

1943

0.52

0.34

Scioto

0

0

0

0

0

0

0.00

0.00

Seneca

1

0

0

0

0

1

23692

0.04

0.03

Shelby

1

14

0

0

1

16

1168

0.86

0.56

Stark

15

108

0

0

336

459

342

2.92

1.91

Summit

21

67

0

0

196

284

813

1.23

0.80

Trumbull

6

6

0

0

67

79

1204

0.83

0.54

Tuscarawas

0

1

0

0

7

8

4764

0.21

0.14

Union

0

26

0

0

2

28

543

1.84

1.20

Van Wert

0

9

0

0

1

10

1236

0.81

0.53

Warren

0

28

0

0

34

62

947

1.06

0.69

Washington

0

8

0

0

4

12

2313

0.43

0.28

Wayne

0

27

0

0

5

32

1323

0.76

0.49

Williams

0

7

0

0

0

7

2306

0.43

0.28

Wood

3

26

0

0

0

29

1637

0.61

0.40

Wyandot

1

0

0

0

0

1

9324

0.11

0.07

 

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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