Ohio foreclosures continue climb

[UpInArms]

http://www.bizjournals.com/columbus/stories/2006/07/17/daily11.html

While national foreclosure rates fell in June, Ohio moved up five places to post the 6th-highest foreclosure rate among the states, according to real estate information firm RealtyTrac Inc.

In its monthly report, RealtyTrac said Ohio had 5,942 properties entering some stage of foreclosure last month, up 13.4 percent from last month and 48.9 percent from last June. The firm said there was one property in foreclosure for every 805 households in the state.

Ohio was 11th on the list in May.

Although the national foreclosure rate fell 4.9 percent from May, it increased by 16.9 percent compared with a year earlier, with an average of one foreclosure for every 1,311 households, RealtyTrac said.

Colorado led the nation in foreclosure rates for the fourth month in a row, with one new foreclosure filing for every 495 households. It was followed by Nevada and Georgia, the real estate information firm said.

...more...

[mhr]

1. Maybe Freepers Get What Is Coming To Them In The End.

eom

[WCGreen]

2. I can tell you, driving around in one of the Toney Cleveland

suburbs, you get a feeling of panic in the air...

The more exclusive the area, the more likely there are for sale signs...

[UpInArms]

3. in the 80s - I remember entire neighborhoods for sale

and signs reading "best offer", "reduced for quick sale" and "owner transferred - negotiable!"

:eyes:

When Dimson said he "wanted to pick up whar his daddy lef' off", I definitely got a bad feeling.

[HughBeaumont]

11. Or you have the other scenario -

OK neighborhoods, moderately priced homes, on the market for 2 YEARS and cannot sell it.

That's what my dad is feeling right now. He lives in Vermilion, where Ford left, Lithonia Downlighting left, and there goes the tax base and local businesses that thrived off the employees of those plants. That city looks like a ramshackle flea market now.

He lowered the price of his 40-year-old, four-bedroom, 2 full bath (one with a jacuzzi), finished basement, finished dining room and kitchen, two car attached garage, walking distance to all schools and a pool, to $155k. STILL NO bites at all. That same house 25 minutes away where I live would sell for 210k easily, and it'd be a bargain.

[LiberalEsto]

15. In my Maryland neighborhood

that house would sell for more than $500,000!



A lot of these foreclosure problems are caused by predatory lending practices that target black and Hispanic people with higher loan costs, according to what a Dayton, OH, city councilman told me recently.

[WCGreen]

27. That is horrible.....

[orwell]

4. To put it in perspective...

...we are talking around 1/10 of 1%.

[Demit]

5. Still, up 49% from last year is a disturbing jump. n/t

[WCGreen]

6. It's gonna get worse here in Ohio.....

There just isn't the sustaining wealth growth here in North East Ohio to economically justify the number of home over the 350k price range...

[HughBeaumont]

13. Not hard to understand why . . .

Cold climate 7-8 months out of the year, lake effect winter winds that are so cold they make your lungs, skin and eyes burn, an outdated public transporation system that only benefits one section of the metro area (the East Side), not a whole lot to do in the city (or really, it's suburbs) after 5 unless you drink heavily, the city itself smells like vandalia onion gas in the morning, constant construction everywhere, aggressive panhandlers everywhere, 1/3 of Euclid Ave out of business, gouging parking rates, mediocre music scene and culture besides the Orchestra, consistenly lousy sports teams besides the Cavs . . .

yeah, what burgeoning young company or older corporation WOULDN'T want to set up shop here!??!?

[fasttense]

9. Foreclosure rates are only a symptom

When foreclosure rates start to climb it is a symptom of worsening economic conditions.

[slackmaster]

18. Thank you

113.4% of next to nothing is still next to nothing.

[ladjf]

7. Hey Ohioans. Things aren't going so well. Perhaps you might

rethink the Blackwell voting farces. He and his fellow Republicans are dragging your once great state into a dismal swamp of misery. Cast the bastards out and rejoin the U.S.

[HughBeaumont]

14. Strickland has a 53 to 37 lead over Crackwell in recent polling.

BootBlackwell is too big a wack-job even for the NASCAR dad set.

And it's the Central and Southwest counties that are killing us. Us Northern, Eastern and Franklin/Athens County people are outnumbered 84-15 by these backwoods religious-wrong jokers. We can only do so much.

[ladjf]

21. That's good news.

[samplegirl]

26. but give us some of that good time

religion. They will have to blatantly cheat to get Blackwell in.
Strickland is an ordained minister.

[samplegirl]

20. Nobody needs to remind us

some of us are just the innocent to this mayhem culture of corruption. Hopefully this economic disaster will force everyone
to go vote for the truth.

[samplegirl]

24. This did not

happen over night its been happening for the past fifteen years.
In my county.......our voting was 2 to 1 for Kerry.

[Roland99]

8. Friend of mine has been trying to sell for months now.

He's far from being in foreclosure (corporate transfer to another state) but he's in a very nice area of Cincinnati and has been trying to sell for over 6 months.

I can imagine how hard it is for someone who MUST sell but can't. Would explain the increase in foreclosures.

[Demeter]

10. Michigan's Been Like That for 5 Years

so there's no sympathy from us for Ohio, which gave us 4 MORE YEARS of shrinkage.

[Omaha Steve]

12. Ohio voted for Kerry, it was stolen away

It ain't their fault W is ruining America.

[Marie26]

16. *sigh*

Many, many, people in Ohio are losing their pensions from companies like Delphi & can't make mortgage payments anymore.

[samplegirl]

17. I live in a fairly

upscale neighborhood in N.E. Ohio and it is frightening to see
so many homes up for sale. Delphi has really affected my surrounding community.
Then you have Taft getting ready to give yet another tax break
before leaving in October. The GOP is running Ohio and it shows.

[karlrschneider]

19. 3 houses for sale within a block of us, few lookers

The location isn't everybody's cup of tea but perfect for us - rural, 3 blocks from a really nice
big lake, no traffic or crime to speak of and property taxes so low it's almost embarrassing.
But it isn't convenient for commuting so property goes cheap...we have a decent small house paid for
with cash & includes 16 lots, a large shop bldg & a horse barn ... $25,000. The ones for sale
are not quite that cheap but very affordable however they're having trouble selling. The one across
the street is about to go into default, the previous occupants moved to New York & can't keep up
payments on 2 houses.

[OhioChick]

22. Times are bad here........

I've never seen this many homes up for sale. We're not talking mansions, either. Not many jobs to be found, but many pink slips being handed out.

[samplegirl]

25. Even

skilled trade jobs been cut by Delphi Packard. I guess they can
contiune to blame Clinton.

[Taverner]

23. But boys can't kiss - that's what matters, right?

[llmart]

28. And they can't take our guns away................

that ole' Bush/Cheney team have done us a big favor what with sleeping with the NRA. Who needs food, a job and a roof over our heads as long as we have our guns!

Look, I was born and raised in Ohio and when I go back I see this mentality everywhere. If they're too stupid to have their priorities straight, then let them go down the tubes with the Repugs.

[Blue Diadem]

29. In the nearly 18 yrs we've been in this county, I've never seen so many

homes/properties being listed for Sheriff's sale because owners can't pay their RE taxes. I live in a rural county..not that highly populated. My son is looking to buy a house and has run across many that have been foreclosed upon and are now bank owned.