Foreclosure activity jumps in Tri-Cities region
After eight consecutive months of decline, home foreclosure activity in and around the Tri-Cities increased sharply from a month ago, returning to levels more typical of a year ago.
According to the latest data released by home foreclosure tracking company RealtyTrac, the number of homes in some stage of the foreclosure process in the Tri-Cities and six surrounding ZIP codes increased 124 percent in September from August.
Compared to a year earlier, however, local foreclosure activity remained virtually unchanged in the region.
RealtyTrac’s data indicated that 202 homes were in foreclosure in September in the local nine-ZIP code region, which includes the Tri-Cities of St. Charles, Geneva and Batavia, and Elburn, Sugar Grove, South Elgin, North Aurora, Maple Park and much of Campton Hills.
A year earlier, the region suffered 200 foreclosures. However, a month earlier, 90 homes were going through foreclosure in and around the Tri-Cities.
In the three primary ZIP codes in the Tri-Cities, foreclosure activity also remained virtually unchanged from a year ago. In the St. Charles 60174, Geneva 60134, and Batavia 60510 ZIP codes, combined, 83 homes were in foreclosure in September, compared to 84 in September 2012.
In August 2013, the Tri-Cities suffered 42 foreclosures.
The increases marked an end to months of decline in foreclosure activity within the region. From January to August, foreclosures had decreased each month compared to the same period in 2012, often by more than 50 percent.
That had mirrored a national trend in which foreclosure activity nationwide has declined each month for 36 months.
In September, foreclosures declined 27 percent nationally again. However, in Illinois, while foreclosure defaults declined statewide, the number of properties actually being repossessed by lenders surged by 44 percent in the third quarter of the year, RealtyTrac said.
Within Illinois, Kane County remained one of the top counties in the state for foreclosure activity, as one in every 240 homes in the county was in some stage of the foreclosure process in September, according to RealtyTrac. Only Will County had a higher foreclosure rate among Illinois counties last month, RealtyTrac said.
By the numbers
After eight straight months of decline, foreclosure activity spiked again in September in and around the Tri-Cities. What happened in your ZIP code, compared to September 2012?
St. Charles 60174: 43 foreclosures, up from 34
Geneva 60134: 16 foreclosures, down from 23
Batavia 60510: 24 foreclosures, down from 27
St. Charles/Campton Hills 60175: 26 foreclosures, up from 14
Elburn 60119: 16 foreclosures, up from 15
North Aurora 60542: 23 foreclosures, down from 27
South Elgin 60177: 40 foreclosures, up from 38
Sugar Grove 60554: 10 foreclosures, down from 20