OHIO FORECLOSURES DECREASE 10 PERCENT IN DECEMBER

Total Up 9 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Jan. 15, 2007 – Ohio reported 7,349 properties entering some stage of the foreclosure process in December, a 10 percent decrease from the 8,200 properties reported in November, but still a 9 percent gain from the 6,767 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report. The state registered the seventh highest state foreclosure rate in the nation — one new foreclosure filing for every 651 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 properties from nearly 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 had the fourth highest total foreclosures in the nation for December, and has consistently ranked among the highest in the country this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Home price appreciation that ranked second lowest among the states in the fourth quarter, along with rising energy prices and higher interest rates could push a growing number of distressed homeowners into foreclosure.”

 

Cuyahoga, Franklin and Montgomery counties lead state in activity

Three counties accounted for 50 percent of all foreclosure activity in Ohio for December. Cuyahoga County led the state with 2,249 properties entering some stage of the foreclosure process during the month. Franklin County registered the second highest total with 769 properties entering some stage of foreclosure. Montgomery County documented the third highest total with 699 properties in the foreclosure pipeline.

 

Top foreclosure rate posted in Cuyahoga County

Cuyahoga County posted the top foreclosure rate in the state for December, reporting one new foreclosure filing for every 274 households — 2.4 times the state average and 3.8 times the national average. Lucas County posted the second highest foreclosure rate, reporting one new foreclosure filing for every 305 households — 2.1 times the state average and 3.5 times the national average. Reporting one new foreclosure filing for every 355 households — 1.8 times the state average and 3 times the national average — Montgomery County documented the state’s third highest rate. Stark County came in fourth, reporting one new foreclosure filing for every 386 households — 1.7 times the state average and 2.7 times the national average.

 

State a significant contributor to national total

Ohio accounted for 7 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                        Ohio Foreclosure Market by County – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Ohio

165

3,062

0

0

4,122

7,349

651

1.62

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

11,822

0.09

0.06

Allen

1

1

0

0

1

3

14,748

0.07

0.04

Ashland

0

1

0

0

4

5

4,166

0.25

0.16

Ashtabula

2

32

0

0

30

64

684

1.54

0.95

Athens

1

1

0

0

3

5

4,980

0.21

0.13

Auglaize

0

10

0

0

0

10

1,848

0.57

0.35

Belmont

0

0

0

0

6

6

5,206

0.20

0.13

Brown

0

1

0

0

10

11

1,563

0.67

0.42

Butler

5

7

0

0

175

187

694

1.52

0.94

Carroll

1

0

0

0

3

4

3,254

0.32

0.20

Champaign

0

0

0

0

9

9

1,766

0.60

0.37

Clark

1

6

0

0

50

57

1,071

0.98

0.61

Clermont

1

15

0

0

71

87

796

1.33

0.82

Clinton

1

2

0

0

1

4

4,144

0.25

0.16

Columbiana

1

4

0

0

3

8

5,760

0.18

0.11

Coshocton

0

0

0

0

8

8

2,013

0.52

0.32

Crawford

0

1

0

0

0

1

21,178

0.05

0.03

Cuyahoga

36

1,011

0

0

1,202

2,249

274

3.84

2.37

Darke

1

0

0

0

1

2

10,792

0.10

0.06

Delaware

3

2

0

0

16

21

2,018

0.52

0.32

Erie

1

1

0

0

1

3

11,667

0.09

0.06

Fairfield

1

65

0

0

15

81

592

1.78

1.10

Fayette

0

2

0

0

4

6

1,984

0.53

0.33

Franklin

20

510

0

0

239

769

613

1.72

1.06

Fulton

0

0

0

0

12

12

1,353

0.78

0.48

Geauga

1

1

0

0

2

4

8,201

0.13

0.08

Greene

0

47

0

0

46

93

626

1.68

1.04

Hamilton

8

328

0

0

200

536

697

1.51

0.93

Hancock

1

3

0

0

8

12

2,482

0.42

0.26

Hardin

0

16

0

0

8

24

538

1.96

1.21

Highland

1

13

0

0

12

26

676

1.56

0.96

Hocking

0

3

0

0

0

3

4,047

0.26

0.16

Huron

2

2

0

0

0

4

5,899

0.18

0.11

Jackson

1

0

0

0

6

7

1,987

0.53

0.33

Jefferson

0

3

0

0

1

4

8,300

0.13

0.08

Knox

1

0

0

0

10

11

1,981

0.53

0.33

Lake

3

47

0

0

59

109

858

1.23

0.76

Lawrence

0

0

0

0

6

6

4,532

0.23

0.14

Licking

7

2

0

0

36

45

1,306

0.81

0.50

Logan

0

0

0

0

20

20

1,079

0.98

0.60

Lorain

3

58

0

0

0

61

1,826

0.58

0.36

Lucas

10

88

0

0

545

643

305

3.45

2.13

Madison

0

21

0

0

8

29

494

2.13

1.32

Mahoning

7

15

0

0

231

253

442

2.39

1.47

Marion

0

1

0

0

0

1

26,209

0.04

0.02

Medina

1

2

0

0

16

19

2,989

0.35

0.22

Mercer

0

1

0

0

2

3

5,292

0.20

0.12

Miami

1

3

0

0

0

4

10,139

0.10

0.06

Monroe

1

0

0

0

0

1

7,212

0.15

0.09

Montgomery

10

283

0

0

406

699

355

2.97

1.83

Morrow

0

0

0

0

8

8

1,517

0.70

0.43

Muskingum

1

3

0

0

30

34

1,034

1.02

0.63

Ottawa

0

9

0

0

1

10

2,553

0.41

0.25

Paulding

0

1

0

0

0

1

8,478

0.12

0.08

Perry

1

1

0

0

0

2

6,828

0.15

0.10

Pickaway

0

2

0

0

18

20

930

1.13

0.70

Pike

0

1

0

0

5

6

1,934

0.55

0.34

Portage

0

30

0

0

22

52

1,156

0.91

0.56

Preble

1

2

0

0

0

3

5,729

0.18

0.11

Richland

1

48

0

0

38

87

610

1.73

1.07

Ross

0

1

0

0

12

13

2,266

0.47

0.29

Sandusky

0

2

0

0

14

16

1,578

0.67

0.41

Scioto

0

2

0

0

10

12

2,838

0.37

0.23

Seneca

1

0

0

0

0

1

23,692

0.04

0.03

Shelby

0

14

0

0

0

14

1,334

0.79

0.49

Stark

9

190

0

0

208

407

386

2.73

1.69

Summit

13

32

0

0

132

177

1,304

0.81

0.50

Trumbull

1

15

0

0

36

52

1,829

0.58

0.36

Tuscarawas

0

3

0

0

11

14

2,722

0.39

0.24

Union

0

2

0

0

8

10

1,522

0.69

0.43

Van Wert

1

0

0

0

30

31

399

2.64

1.63

Warren

1

33

0

0

35

69

851

1.24

0.77

Washington

0

6

0

0

1

7

3,966

0.27

0.16

Wayne

0

31

0

0

8

39

1,085

0.97

0.60

Williams

0

3

0

0

0

3

5,380

0.20

0.12

Wood

1

22

0

0

8

31

1,531

0.69

0.43

 

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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