Ohio Foreclosures Up in 2010

Foreclosure filings rise 6 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 108,160 Ohio properties for 2010, up 6 percent from a year ago, but still 5 percent below the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 10,523 Ohio properties in December 2010, a 1 percent increase from November, but still 10 percent lower than the level reported in December 2009. One in every 483 Ohio housing units received a foreclosure filing during the month.

 

“The number of foreclosure filings rose in Ohio in 2010 from the previous year, though it remained below what was reported in 2008, signaling a slowdown of the recession-induced surge in activity within the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “That said, the state ended 2010 with unemployment at 9.6 percent, high enough to drive foreclosure activity up further in the coming months.”

 

Ohio had the eighth highest total in the nation in 2010. California continues to be the top state, reporting 546,669 properties with foreclosure filings. Florida came in second, tallying 485,286 properties with foreclosure filings. Arizona came third, reporting 155,878 properties with foreclosure filings. Illinois had the fourth highest total, tallying 151,304 properties with foreclosure filings. Michigan had the fifth highest total, reporting 135,874 properties with a foreclosure filing.

 

The remaining states in the nation’s Top 10 for 2010 were Georgia (130,966), Texas (118,923), Nevada (106,160) and New Jersey (64,808). The top five states accounted for 51 percent of all foreclosure filings in the nation for the month.

 

Marion County posts state’s top foreclosure rate in 2010

Marion County posted the highest foreclosure rate in Ohio in 2010, with one in every 29 housing units receiving a foreclosure filing — 1.6 times the state average. Lucas County came in second, with one in every 33 housing units receiving a foreclosure filing in 2010 — 1.4 times the state average. The next highest was Franklin County, where one in every 36 housing units received a foreclosure filings during the year — 1.3 times the state average.

 

Cuyahoga County led the state in foreclosure activity in 2010

Cuyahoga County led Ohio in foreclosure activity, reporting 16,863 properties with foreclosure filings. Next highest was Franklin County, where 14,580 properties with foreclosure filings were reported. Montgomery County was third highest, reporting 6,873 properties with foreclosure filings for the year. Hamilton County came in fourth, tallying 6,676 properties with foreclosure filings. Fifth highest total for the year was in Lucas County, where 6,152 properties with foreclosure filings were reported.

 

State the nation’s eighth largest contributor to total foreclosure activity in 2010

Ohio accounted for 4 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

Ohio Top Foreclosure Rates By County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

Ohio

0

40,641

0

27,042

40,477

108,160

47

0.96

n/a

 

 

 

 

 

 

 

 

 

 

Marion

0

373

0

181

397

951

29

1.53

1.60

Lucas

0

2,254

0

1,637

2,261

6,152

33

1.36

1.42

Franklin

0

5,662

0

4,148

4,770

14,580

36

1.25

1.30

Cuyahoga

0

7,397

0

3,521

5,945

16,863

37

1.22

1.28

Montgomery

0

2,704

0

1,453

2,716

6,873

37

1.21

1.27

 

 

Ohio Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

1.67

23.23

Ohio

0

40,641

0

27,042

40,477

108,160

47

6.44

-4.76

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

7,397

0

3,521

5,945

16,863

37

3.92

-19.05

Franklin

0

5,662

0

4,148

4,770

14,580

36

18.88

-2.43

Montgomery

0

2,704

0

1,453

2,716

6,873

37

12.67

-8.95

Hamilton

0

1,728

0

2,719

2,229

6,676

58

9.08

-14.33

Lucas

0

2,254

0

1,637

2,261

6,152

33

9.97

-9.77

 

 

 

Ohio Top Foreclosure Rates By County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

Ohio

0

3,974

0

3,890

2,659

10,523

483

1.04

n/a

 

 

 

 

 

 

 

 

 

 

Lucas

0

127

0

518

157

802

254

1.97

1.90

Clinton

0

4

0

27

39

70

258

1.94

1.87

Cuyahoga

0

793

0

793

462

2,048

303

1.65

1.59

Franklin

0

640

0

807

140

1,587

331

1.51

1.46

Warren

0

86

0

74

62

222

347

1.44

1.39

 

 

Ohio Top Foreclosure Totals by County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

Ohio

0

3,974

0

3,890

2,659

10,523

483

0.62

-10.40

 

 

 

 

 

 

 

 

 

 

Cuyahoga

0

793

0

793

462

2,048

303

27.84

-5.14

Franklin

0

640

0

807

140

1,587

331

9.75

21.05

Lucas

0

127

0

518

157

802

254

41.70

24.53

Hamilton

0

210

0

202

222

634

607

-17.02

-18.82

Montgomery

0

303

0

196

123

622

410

-4.31

-5.18

 

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