OHIO FORECLOSURES INCREASE 12 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Total Up 65 Percent From a Year Ago; Foreclosure Rate in Top 5

 

IRVINE, Calif. – Dec. 11, 2006 – Ohio reported 8,200 properties entering some stage of the foreclosure process in November, a 12 percent increase from the 7,319 properties reported in October, and a 65 percent gain from the 4,968 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report. The state registered the fourth highest state foreclosure rate in the nation — one new foreclosure filing for every 583 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’s foreclosure rate has consistently ranked among the highest in the country this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “That’s not too surprising given that Ohio’s home prices appreciation ranked second lowest among the states in the third quarter. And with winter approaching, rising energy prices and higher interest rates could push a growing number of distressed homeowners into foreclosure.”

 

Cuyahoga, Franklin, Hamilton counties lead state in activity

Three counties accounted for 46 percent of all foreclosure activity in Ohio for November. Cuyahoga County led the state with 1,944 properties entering some stage of the foreclosure process during the month. Franklin County registered the second highest total, 1,235, followed by Hamilton County, with 654 properties entering some part of the foreclosure pipeline.

 

Mahoning County posts state’s top foreclosure rate

Mahoning County posted the top foreclosure rate in the state for November, reporting one new foreclosure filing for every 254 households — 2.3 times the state average and 3.8 times the national average. Next highest was Cuyahoga County, reporting one new foreclosure filing for every 317 households — 1.8 times the state average and three times the national average. The third highest rate in the state was in Summit County, which reported one new foreclosure filing for every 343 households — 1.7 times the state average and 2.8 times the national average.

 

State accounts for 6 percent of monthly national total

Ohio accounted for 6 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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 – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Ohio

121

4,002

0

0

4,077

8,200

583

1.64

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

1

1

11,822

0.08

0.04

Allen

0

4

0

0

1

5

8,849

0.10

0.06

Ashland

0

1

0

0

12

13

1,602

0.60

0.36

Ashtabula

1

66

0

0

29

96

456

2.10

1.27

Athens

0

1

0

0

4

5

4,980

0.19

0.11

Auglaize

0

10

0

0

6

16

1,155

0.83

0.50

Belmont

0

0

0

0

8

8

3,905

0.24

0.14

Brown

1

2

0

0

14

17

1,011

0.95

0.57

Butler

3

10

0

0

91

104

1,248

0.77

0.46

Carroll

0

2

0

0

3

5

2,603

0.36

0.22

Champaign

0

0

0

0

4

4

3,973

0.24

0.14

Clark

0

6

0

0

68

74

825

1.16

0.70

Clermont

2

40

0

0

31

73

948

1.01

0.61

Clinton

0

4

0

0

0

4

4,144

0.23

0.14

Columbiana

3

5

0

0

16

24

1,920

0.50

0.30

Coshocton

0

0

0

0

5

5

3,221

0.29

0.18

Crawford

0

5

0

0

0

5

4,236

0.22

0.13

Cuyahoga

25

882

0

0

1,037

1,944

317

3.02

1.83

Darke

0

1

0

0

9

10

2,158

0.44

0.27

Defiance

0

2

0

0

0

2

8,020

0.12

0.07

Delaware

0

3

0

0

14

17

2,493

0.38

0.23

Erie

1

6

0

0

0

7

5,000

0.19

0.11

Fairfield

1

27

0

0

30

58

827

1.16

0.70

Fayette

0

0

0

0

19

19

627

1.53

0.93

Franklin

23

754

0

0

458

1,235

381

2.52

1.52

Fulton

0

2

0

0

4

6

2,705

0.35

0.21

Geauga

1

0

0

0

10

11

2,982

0.32

0.19

Greene

0

44

0

0

53

97

600

1.60

0.97

Guernsey

0

1

0

0

0

1

18,771

0.05

0.03

Hamilton

7

444

0

0

203

654

571

1.68

1.02

Hancock

0

2

0

0

15

17

1,752

0.54

0.33

Hardin

0

4

0

0

9

13

993

0.96

0.58

Henry

0

8

0

0

0

8

1,454

0.66

0.40

Highland

0

31

0

0

13

44

400

2.40

1.46

Hocking

0

0

0

0

0

0

n/a 

0.00

0.00

Huron

0

1

0

0

0

1

23,594

0.04

0.02

Jackson

0

1

0

0

0

1

13,909

0.06

0.04

Jefferson

1

4

0

0

1

6

5,534

0.17

0.10

Knox

0

2

0

0

4

6

3,632

0.26

0.16

Lake

1

56

0

0

46

103

908

1.05

0.64

Lawrence

0

1

0

0

4

5

5,438

0.17

0.10

Licking

3

2

0

0

35

40

1,469

0.65

0.39

Logan

1

3

0

0

2

6

3,595

0.26

0.16

Lorain

1

102

0

0

0

103

1,081

0.88

0.53

Lucas

2

162

0

0

175

339

579

1.66

1.00

Madison

1

0

0

0

7

8

1,792

0.53

0.32

Mahoning

5

14

0

0

421

440

254

3.78

2.29

Marion

1

0

0

0

34

35

749

1.28

0.77

Medina

2

1

0

0

35

38

1,495

0.64

0.39

Mercer

0

1

0

0

5

6

2,646

0.36

0.22

Miami

1

4

0

0

0

5

8,111

0.11

0.07

Montgomery

12

319

0

0

378

709

350

2.74

1.66

Morrow

0

0

0

0

1

1

12,132

0.07

0.04

Muskingum

0

5

0

0

19

24

1,465

0.65

0.39

Ottawa

0

14

0

0

0

14

1,824

0.52

0.32

Pickaway

0

1

0

0

19

20

930

1.03

0.62

Pike

0

3

0

0

3

6

1,934

0.49

0.30

Portage

0

94

0

0

28

122

493

1.95

1.18

Preble

1

2

0

0

0

3

5,729

0.16

0.10

Richland

2

80

0

0

26

108

491

1.95

1.18

Ross

0

0

0

0

18

18

1,637

0.58

0.35

Sandusky

0

0

0

0

17

17

1,485

0.64

0.39

Scioto

0

0

0

0

21

21

1,622

0.59

0.36

Seneca

1

0

0

0

0

1

23,692

0.04

0.02

Shelby

1

9

0

0

2

12

1,557

0.61

0.37

Stark

2

197

0

0

225

424

370

2.59

1.57

Summit

10

448

0

0

216

674

343

2.80

1.70

Trumbull

3

17

0

0

48

68

1,399

0.68

0.41

Tuscarawas

0

2

0

0

14

16

2,382

0.40

0.24

Union

2

2

0

0

2

6

2,536

0.37

0.23

Van Wert

0

10

0

0

0

10

1,236

0.77

0.47

Warren

0

34

0

0

67

101

581

1.65

1.00

Washington

0

4

0

0

4

8

3,470

0.27

0.16

Wayne

0

27

0

0

21

48

882

1.09

0.66

Williams

0

6

0

0

0

6

2,690

0.35

0.21

Wood

0

7

0

0

12

19

2,498

0.38

0.23

 

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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