OHIO FORECLOSURES DECREASE 8 PERCENT IN JULY

Activity Up 20 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – August 11, 2006 – Ohio reported 5,486 properties entering some stage of the foreclosure process in July, an 8 percent decline from 5,942 properties reported in June, but still 20 percent above the 4,592 properties reported for the same month last year, according to the RealtyTrac™ July 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.

 

“While this month’s 8 percent decline in foreclosure activity is good news after last month’s 13 percent increase, Ohio still has the fifth highest foreclosure total in the country,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s weak economy, as evidenced by a very soft real estate sector, is definitely affecting its ability to turn things around.”

 

Ohio‘s total foreclosure activity for July is slightly more than 500 foreclosures below fourth place Michigan and 4,500 foreclosures less than third place California. Second place Florida reported  5,000 more foreclosures than Ohio and first place Texas had 7,600 more foreclosures. The state’s foreclosure rate of one new foreclosure filing for every 872 households ranks it 9th in the nation –1.4 times the national average.

 

Three counties account for large share of state activity

Total activity in Cuyahoga, Franklin and Hamilton counties combined accounted for almost 55 percent of all foreclosures in Ohio for July. Cuyahoga County led the state, reporting 1,623 properties entering some stage of the foreclosure process for the month. Franklin County had the state’s second highest total. Reporting 788 properties in some stage of the process, followed by Hamilton County reporting 584 properties in the foreclosure pipeline.

 

Cuyahoga, Stark counties post highest rates in state

Cuyahoga County posted the highest foreclosure rate in Ohio for July, reporting one new foreclosure filing for every 380 households — 2.3 times the state average and 3.3 times the national average. Stark County had the second highest rate in the state, reporting one new foreclosure filing for every 411 households — 2.1 times the state average and 3 times the national average.

 

State activity makes contribution to national total

Ohio’s foreclosures accounted for almost 6 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 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 – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Ohio

108

2,932

0

0

2,446

5,486

872

1.43

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

11,822

0.11

0.07

Allen

0

1

0

0

2

3

14,748

0.08

0.06

Ashland

0

0

0

0

7

7

2,976

0.42

0.29

Ashtabula

0

18

0

0

17

35

1,251

1.00

0.70

Athens

0

0

0

0

7

7

3,557

0.35

0.25

Auglaize

0

8

0

0

0

8

2,310

0.54

0.38

Belmont

0

0

0

0

7

7

4,462

0.28

0.20

Brown

0

1

0

0

15

16

1,075

1.16

0.81

Butler

4

7

0

0

117

128

1,014

1.23

0.86

Carroll

0

2

0

0

2

4

3,254

0.38

0.27

Champaign

1

1

0

0

10

12

1,324

0.94

0.66

Clark

1

1

0

0

34

36

1,696

0.73

0.51

Clermont

1

21

0

0

40

62

1,117

1.12

0.78

Clinton

0

3

0

0

5

8

2,072

0.60

0.42

Columbiana

0

0

0

0

18

18

2,560

0.49

0.34

Coshocton

0

1

0

0

6

7

2,301

0.54

0.38

Crawford

0

0

0

0

2

2

10,589

0.12

0.08

Cuyahoga

33

708

0

0

882

1,623

380

3.28

2.29

Darke

0

1

0

0

1

2

10,792

0.12

0.08

Delaware

0

3

0

0

16

19

2,230

0.56

0.39

Erie

1

1

0

0

3

5

7,000

0.18

0.12

Fairfield

0

4

0

0

26

30

1,600

0.78

0.54

Fayette

0

0

0

0

3

3

3,968

0.31

0.22

Franklin

13

468

0

0

307

788

598

2.08

1.46

Gallia

0

1

0

0

2

3

4,499

0.28

0.19

Geauga

0

0

0

0

3

3

10,935

0.11

0.08

Greene

0

42

0

0

20

62

939

1.33

0.93

Hamilton

7

558

0

0

19

584

639

1.95

1.36

Hancock

0

4

0

0

16

20

1,489

0.84

0.59

Hardin

1

2

0

0

1

4

3,227

0.39

0.27

Henry

0

6

0

0

0

6

1,939

0.64

0.45

Highland

0

2

0

0

13

15

1,172

1.06

0.74

Hocking

0

0

0

0

0

0

0.00

0.00

Holmes

0

0

0

0

2

2

6,140

0.20

0.14

Huron

1

1

0

0

1

3

7,865

0.16

0.11

Jackson

0

1

0

0

1

2

6,955

0.18

0.13

Jefferson

0

1

0

0

0

1

33,201

0.04

0.03

Knox

0

2

0

0

4

6

3,632

0.34

0.24

Lake

2

2

0

0

22

26

3,596

0.35

0.24

Lawrence

0

1

0

0

3

4

6,797

0.18

0.13

Licking

1

1

0

0

56

58

1,013

1.23

0.86

Logan

0

0

0

0

1

1

21,571

0.06

0.04

Lorain

5

71

0

0

7

83

1,342

0.93

0.65

Lucas

7

163

0

0

81

251

782

1.59

1.12

Madison

0

9

0

0

16

25

574

2.17

1.52

Mahoning

6

8

0

0

51

65

1,719

0.72

0.51

Marion

0

3

0

0

7

10

2,621

0.48

0.33

Medina

1

1

0

0

10

12

4,733

0.26

0.18

Meigs

0

0

0

0

1

1

10,782

0.12

0.08

Mercer

0

1

0

0

2

3

5,292

0.24

0.16

Miami

0

3

0

0

2

5

8,111

0.15

0.11

Monroe

0

0

0

0

1

1

7,212

0.17

0.12

Montgomery

7

125

0

0

23

155

1,603

0.78

0.54

Morgan

0

0

0

0

1

1

7,771

0.16

0.11

Morrow

0

0

0

0

2

2

6,066

0.21

0.14

Muskingum

1

2

0

0

10

13

2,705

0.46

0.32

Ottawa

0

7

0

0

1

8

3,192

0.39

0.27

Paulding

0

0

0

0

2

2

4,239

0.29

0.21

Perry

1

1

0

0

0

2

6,828

0.18

0.13

Pickaway

1

1

0

0

8

10

1,860

0.67

0.47

Pike

0

0

0

0

2

2

5,801

0.21

0.15

Portage

2

41

0

0

40

83

724

1.72

1.20

Preble

0

0

0

0

3

3

5,729

0.22

0.15

Putnam

0

1

0

0

0

1

12,753

0.10

0.07

Richland

1

3

0

0

23

27

1,965

0.63

0.44

Ross

0

0

0

0

6

6

4,910

0.25

0.18

Sandusky

0

0

0

0

0

0

0.00

0.00

Scioto

0

1

0

0

2

3

11,351

0.11

0.08

Seneca

0

3

0

0

2

5

4,738

0.26

0.18

Shelby

0

7

0

0

1

8

2,335

0.53

0.37

Stark

2

230

0

0

150

382

411

3.03

2.12

Summit

2

226

0

0

155

383

603

2.07

1.45

Trumbull

1

8

0

0

67

76

1,252

1.00

0.70

Tuscarawas

1

3

0

0

19

23

1,657

0.75

0.53

Union

0

0

0

0

4

4

3,804

0.33

0.23

Van Wert

0

11

0

0

0

11

1,124

1.11

0.78

Warren

2

93

0

0

39

134

438

2.84

1.99

Washington

0

10

0

0

3

13

2,135

0.58

0.41

Wayne

1

23

0

0

9

33

1,283

0.97

0.68

Williams

0

0

0

0

1

1

16,140

0.08

0.05

Wood

0

4

0

0

3

7

6,781

0.18

0.13

Wyandot

1

0

0

0

0

1

9,324

0.13

0.09

 

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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