OHIO FORECLOSURES INCREASE 13 PERCENT IN JUNE

State Foreclosure Activity Up 49 Percent From a Year Ago

 

IRVINE, Calif. – July 31, 2006 – Ohio reported 5,942 properties entering some stage of the foreclosure process in June, a 13 percent increase over the 5,239 properties reported in May, and a 49 percent increase from the 3,990 properties reported for the same month last year, according to the RealtyTrac™ June 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.

 

“The Ohio economy is growing at a rate well below the national average. Higher wage jobs are being replaced by lower paying jobs, meaning the cost of living is eating up a higher percentage of incomes,” said James J. Saccacio, chief executive officer of RealtyTrac. “Those factors combined with a much slower rate of home appreciation and a lackluster housing market are fertile ground for increased foreclosures.”

 

Ohio registered the fourth highest number of foreclosures in June, behind Texas, California and Florida, and just slightly ahead of fifth place Illinois. Additionally, the state’s foreclosure rate of one new foreclosure filing for every 805 households ranks sixth highest in the nation –1.6 times the national average.

 

Cuyahoga, Franklin Counties Tops in Foreclosure Activity

Cuyahoga County barely beat out Franklin County for the state’s highest foreclosure total in June. Cuyahoga County reported 1,215 properties in some stage of the foreclosure process during the month compared to the 1,208 properties reported by Franklin County.

 

Highest Foreclosure Rates Found in Wayne, Franklin Counties

Wayne and Franklin counties posted the two highest foreclosure rates in the state for June. Reporting one new foreclosure filing for every 378 households, Wayne County had the highest rate — 2.1 times the state average and 3.5 times the national average. Franklin County came in a close second reporting one new foreclosure filing for every 390 households — 2.1 times the state average and 3.4 times the national average. Other notable foreclosure rates for the month included Stark County with one new filing for every 418 households, and Montgomery County with one new filing for every 447 households.

 

State Total a Significant Contribution to Monthly National Total

Ohio‘s foreclosure total accounted for almost 7 percent of the 88,194 properties entering some stage of foreclosure nationwide in June. The national total represents a 5 percent decline from the May total of 92,746 foreclosures. The nation’s foreclosure rate declined to one new foreclosure filing for every 1,311 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 – June 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

21,866

38,382

2,966

9,598

15,382

88,194

1,311

Ohio

88

3,782

0

0

2,072

5,942

805

1.629

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

0.00

0.00

Allen

1

3

0

0

3

7

6,321

0.21

0.13

Ashland

0

0

0

0

10

10

2,083

0.63

0.39

Ashtabula

1

50

0

0

9

60

730

1.80

1.10

Athens

0

0

0

0

4

4

6,225

0.21

0.13

Auglaize

1

11

0

0

1

13

1,421

0.92

0.57

Belmont

1

1

0

0

7

9

3,471

0.38

0.23

Brown

0

1

0

0

17

18

955

1.37

0.84

Butler

5

7

0

0

29

41

3,166

0.41

0.25

Champaign

0

2

0

0

9

11

1,445

0.91

0.56

Clark

2

2

0

0

32

36

1,696

0.77

0.47

Clermont

0

53

0

0

60

113

613

2.14

1.31

Clinton

0

3

0

0

16

19

872

1.50

0.92

Columbiana

0

2

0

0

2

4

11,521

0.11

0.07

Coshocton

0

0

0

0

13

13

1,239

1.06

0.65

Crawford

0

0

0

0

2

2

10,589

0.12

0.08

Cuyahoga

26

464

0

0

725

1,215

508

2.58

1.59

Darke

1

1

0

0

6

8

2,698

0.49

0.30

Delaware

1

3

0

0

18

22

1,926

0.68

0.42

Erie

1

6

0

0

0

7

5,000

0.26

0.16

Fairfield

0

1

0

0

22

23

2,087

0.63

0.39

Fayette

0

0

0

0

6

6

1,984

0.66

0.41

Franklin

9

994

0

0

205

1,208

390

3.36

2.06

Geauga

0

0

0

0

4

4

8,201

0.16

0.10

Greene

0

88

0

0

28

116

502

2.61

1.60

Hamilton

5

367

0

0

26

398

938

1.40

0.86

Hancock

0

1

0

0

13

14

2,128

0.62

0.38

Highland

0

19

0

0

13

32

549

2.39

1.46

Hocking

0

1

0

0

0

1

12,141

0.11

0.07

Huron

0

1

0

0

0

1

23,594

0.06

0.03

Knox

1

0

0

0

11

12

1,816

0.72

0.44

Lake

2

2

0

0

38

42

2,226

0.59

0.36

Lawrence

0

0

0

0

2

2

13,595

0.10

0.06

Licking

2

2

0

0

26

30

1,959

0.67

0.41

Logan

0

0

0

0

2

2

10,786

0.12

0.07

Lorain

1

112

0

0

2

115

968

1.35

0.83

Lucas

3

151

0

0

129

283

693

1.89

1.16

Madison

0

22

0

0

6

28

512

2.56

1.57

Mahoning

2

8

0

0

21

31

3,605

0.36

0.22

Marion

1

4

0

0

11

16

1,638

0.80

0.49

Medina

2

2

0

0

25

29

1,958

0.67

0.41

Mercer

0

2

0

0

0

2

7,938

0.17

0.10

Miami

0

3

0

0

0

3

13,518

0.10

0.06

Montgomery

5

535

0

0

16

556

447

2.93

1.80

Morrow

0

0

0

0

3

3

4,044

0.32

0.20

Muskingum

1

1

0

0

6

8

4,395

0.30

0.18

Ottawa

0

14

0

0

0

14

1,824

0.72

0.44

Perry

0

1

0

0

3

4

3,414

0.38

0.24

Pickaway

1

2

0

0

3

6

3,099

0.42

0.26

Pike

0

0

0

0

2

2

5,801

0.23

0.14

Portage

0

40

0

0

17

57

1,054

1.24

0.76

Preble

0

1

0

0

1

2

8,593

0.15

0.09

Putnam

0

0

0

0

1

1

12,753

0.10

0.06

Richland

0

1

0

0

23

24

2,211

0.59

0.36

Ross

0

4

0

0

11

15

1,964

0.67

0.41

Sandusky

0

0

0

0

12

12

2,104

0.62

0.38

Scioto

0

2

0

0

1

3

11,351

0.12

0.07

Shelby

0

24

0

0

1

25

747

1.75

1.08

Stark

3

213

0

0

160

376

418

3.14

1.93

Summit

7

357

0

0

93

457

505

2.60

1.59

Trumbull

0

8

0

0

77

85

1,119

1.17

0.72

Tuscarawas

0

2

0

0

18

20

1,906

0.69

0.42

Union

0

0

0

0

6

6

2,536

0.52

0.32

Van Wert

0

13

0

0

0

13

951

1.38

0.85

Warren

1

76

0

0

31

108

543

2.41

1.48

Washington

1

9

0

0

5

15

1,851

0.71

0.43

Wayne

0

86

0

0

26

112

378

3.47

2.13

Williams

1

0

0

0

0

1

16,140

0.08

0.05

Wood

0

3

0

0

2

5

9,494

0.14

0.08

Wyandot

0

1

0

0

1

2

4,662

0.28

0.17

 

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved