Ohio Foreclosure Activity Rises in October

Statewide filings up 2 percent  from September

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 8,691 Ohio properties in  October, a 2 percent increase from September, but still 34 percent below the  level reported for October 2010, according  to the latest RealtyTrac® U.S. Foreclosure Market Report.

Ohio had the 14th highest foreclosure  rate in the nation, reporting one in every 586 housing units with a foreclosure  filing in October.

California continues to lead the nation in terms of total foreclosure  activity, reporting 55,312 properties with foreclosure filings for October. Second  ranked Florida reported 33,073 properties with foreclosure filings during the  month. Third place was Michigan, where 16,106 properties with foreclosure  filings were reported. Illinois had the fourth highest total, reporting 12,522 properties  with foreclosure filings while Arizona took fifth place, tallying 10,626 properties  with foreclosure filings.

The remaining states that make up the nation’s  top 10 in October include Georgia (10,010), Texas (9,845), Ohio (8,691), Nevada  (6,307) and Colorado (4,729). The top 10 accounted for 72 percent of the  nation’s total foreclosure activity for the month.

Wyandot County posts top foreclosure rate in the  state for October
  One in every 152 housing units in Wyandot County  had a foreclosure filing in October — 3.7 times the national average and 3.9  times the state average — the highest foreclosure rate of all Ohio counties for the month. Lucas County had  the second highest rate of one in every 271 housing units with a foreclosure  filing during the month — 2.1 times the national average and 2.2 times the  state average. Fayette County had the third highest rate of one in every 336  housing units with a foreclosure filing during the month — 1.7 times the  national average and 1.7 times the the state average.

Cuyahoga County has state’s highest foreclosure  total in October
  Cuyahoga County had the highest level of foreclosure activity in  the state, reporting 1,270 properties with foreclosure filings for October. Franklin  County was second highest, reporting 871 properties with foreclosure filings. Lucas  County was third, reporting 753 properties with foreclosure filings. Fourth  highest was Hamilton County, recording 682 properties with foreclosure filings.  Summit County was fifth highest, tallying 641 properties with foreclosure  filings for the month.

State the nation’s eighth largest contributor to total  foreclosure activity in October
  Ohio accounted for 4 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

 

Ohio Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Ohio

0

3,798

0

2,323

2,570

8,691

586

0.96

n/a

 

 

 

 

 

 

 

 

 

 

Wyandot

0

7

0

8

49

64

152

3.70

3.85

Lucas

0

264

0

204

285

753

271

2.08

2.16

Fayette

0

5

0

21

12

38

336

1.68

1.74

Butler

0

164

0

92

139

395

366

1.54

1.60

Madison

0

19

0

14

9

42

369

1.53

1.59

 Ohio Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Ohio

0

3,798

0

2,323

2,570

8,691

586

1.71

-34.32

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

758

0

288

224

1,270

488

-15.95

-39.58

Franklin

0

498

0

256

117

871

605

-23.73

-47.75

Lucas

0

264

0

204

285

753

271

32.80

-5.16

Hamilton

0

225

0

272

185

682

564

19.02

-50.54

Summit

0

359

0

135

147

641

380

93.07

1.10

 

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