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Local Business

Foreclosure activity ebbs a bit from ’12

Another wave of foreclosures washed through the local housing market in March.

But, according to the latest round of foreclosure filings data, the problem appears to have eased a bit since last spring.

Compared to March 2012, foreclosure actions decreased by about 12 percent last month in a nine-ZIP code area that includes the Tri-Cities of St. Charles, Geneva and Batavia, and six other nearby communities, including Campton Hills, Elburn, Sugar Grove and North Aurora, according to data supplied by foreclosure tracking company RealtyTrac.

In all, 213 homes in that region faced some kind of foreclosure-related action brought by lenders in March, RealtyTrac reported.

A year earlier, the region had suffered 243 foreclosure actions.

However, March’s foreclosure activity represented a worsening of the problem compared to February. In March, 181 homes in the local nine-ZIP code area received foreclosure filings, meaning the region suffered an 18 percent increase last month versus the previous month.

Similar trends were seen within the Tri-Cities.

In the four ZIP codes that cover St. Charles, Geneva and Batavia, foreclosure activity dipped by about 13 percent from 116 foreclosure filings in March 2012 to 101 filings last month.

Compared to February, however, foreclosure activity in the Tri-Cities increased by about 6 percent in March.

Most local communities, individually, logged little change in their foreclosure rates in March, compared to a year earlier. Foreclosure activity increased slightly in the St. Charles 60175 ZIP code, as well as in South Elgin, compared to March 2012.

However, foreclosure activity decreased slightly in all other communities for which data was supplied.

Kane County earned a dubious rank in RealtyTrac’s most recent roundup of foreclosure data, recording the worst foreclosure rate among counties in a state that ranked among the worst in the country for home foreclosure activity.

One in every 441 homes in Illinois was in foreclosure last month, giving the state the third worst foreclosure rate in the country.

In Kane County, one in every 218 homes faced foreclosure action last month, RealtyTrac said.

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