OKLAHOMA FORECLOSURE ACTIVITY DOWN 21 PERCENT IN AUGUST

Statewide Foreclosure Activity Increases 5 Percent From August 2007

 

IRVINE, Calif. – Sept. 26, 2008 – Foreclosure filings were reported on 1,370 Oklahoma properties in August, a decrease of 21 percent from the previous month, but still 5 percent above of the level reported for August 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“As many states struggle with mounting unemployment, Oklahoma continues to report job market improvement, particularly in the professional and business services sectors,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure activity within the state, though up slightly from this time last year, declined significantly between July and August.”

 

Oklahoma ranked 28th in the country in total properties with foreclosure filings reported for August. One in every 1,173 Oklahoma households received a foreclosure filing during the month, ranking 31st among the 50 states.

 

Tulsa County tops in foreclosure activity for August

Tulsa County led Oklahoma, reporting 561 properties with foreclosure filings for the month. Oklahoma County came in second highest, reporting 368 properties with foreclosure filings. Third highest was Cleveland County, reporting 110 properties with foreclosure filings. Rogers County came in fourth place, documenting 52 properties with foreclosure filings. Okmulgee County came in fifth highest, reporting 48 properties with foreclosure filings during the month.

 

Okmulgee County reports highest foreclosure rate for August

Okmulgee County posted the top county foreclosure rate in the state, with one in every 369 households receiving a foreclosure filing during the month — 3.2 times the state average and 1.1 times the national average. Second highest rate was reported by Tulsa County, where one in every 462 households received a foreclosure filing — 2.5 times the state average and 0.9 times the national average. Third highest rate was registered in Rogers County, where one in every 590 households received a foreclosure filing — 2.0 times the state average and 0.7 times the national average.

 

State a minor contributor to nation’s foreclosure total in August

Oklahoma accounted for less than 1 percent of the 303,879 properties with foreclosure filings reported nationwide in August. The national total represents an increase of 12 percent from the previous month and is 27 percent ahead of the total reported for August 2007. The nation’s foreclosure rate increased to one in every 416 U.S. households receiving a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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.

 

           Oklahoma Foreclosure Market Data by County – August 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

61,903

57,156

69,693

24,234

90,893

303,879

416

n/a

n/a

Oklahoma

416

0

428

0

526

1,370

1,173

0.35

n/a

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

n/a

0.00

0.00

Alfalfa

0

0

0

0

0

0

n/a

0.00

0.00

Atoka

0

0

1

0

0

1

5,844

0.07

0.20

Beaver

0

0

1

0

0

1

2,778

0.15

0.42

Beckham

0

0

0

0

0

0

n/a

0.00

0.00

Blaine

0

0

0

0

1

1

5,261

0.08

0.22

Bryan

0

0

0

0

0

0

n/a

0.00

0.00

Caddo

0

0

0

0

1

1

13,426

0.03

0.09

Canadian

6

0

17

0

13

36

1,094

0.38

1.07

Carter

1

0

0

0

3

4

5,396

0.08

0.22

Cherokee

7

0

0

0

5

12

1,738

0.24

0.68

Choctaw

0

0

0

0

0

0

n/a

0.00

0.00

Cimarron

0

0

0

0

0

0

n/a

0.00

0.00

Cleveland

21

0

44

0

45

110

881

0.47

1.33

Coal

0

0

0

0

0

0

n/a

0.00

0.00

Comanche

1

0

0

0

0

1

46,685

0.01

0.03

Cotton

0

0

0

0

0

0

n/a

0.00

0.00

Craig

0

0

0

0

0

0

n/a

0.00

0.00

Creek

8

0

3

0

17

28

1,048

0.40

1.12

Custer

0

0

0

0

3

3

3,990

0.10

0.29

Delaware

6

0

0

0

5

11

2,155

0.19

0.54

Dewey

0

0

0

0

0

0

n/a

0.00

0.00

Ellis

0

0

0

0

0

0

n/a

0.00

0.00

Garfield

0

0

0

0

0

0

n/a

0.00

0.00

Garvin

0

0

0

0

2

2

6,444

0.06

0.18

Grady

4

0

7

0

5

16

1,274

0.33

0.92

Grant

1

0

0

0

0

1

2,655

0.16

0.44

Greer

0

0

0

0

0

0

n/a

0.00

0.00

Harmon

0

0

0

0

0

0

n/a

0.00

0.00

Harper

0

0

0

0

0

0

n/a

0.00

0.00

Haskell

0

0

0

0

0

0

n/a

0.00

0.00

Hughes

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

1

0

1

0

0

2

6,247

0.07

0.19

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Johnston

0

0

0

0

1

1

5,006

0.08

0.23

Kay

1

0

0

0

12

13

1,689

0.25

0.69

Kingfisher

0

0

0

0

2

2

3,039

0.14

0.39

Kiowa

0

0

0

0

0

0

n/a

0.00

0.00

Latimer

0

0

0

0

0

0

n/a

0.00

0.00

Le Flore

0

0

0

0

2

2

10,473

0.04

0.11

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Logan

5

0

0

0

3

8

1,800

0.23

0.65

Love

0

0

0

0

0

0

n/a

0.00

0.00

Major

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

0

0

0

0

0

n/a

0.00

0.00

Mayes

3

0

0

0

3

6

3,028

0.14

0.39

McClain

1

0

1

0

5

7

1,789

0.23

0.66

McCurtain

1

0

1

0

0

2

7,987

0.05

0.15

McIntosh

0

0

0

0

0

0

n/a

0.00

0.00

Murray

1

0

1

0

0

2

3,347

0.12

0.35

Muskogee

2

0

0

0

1

3

10,258

0.04

0.11

Noble

0

0

0

0

0

0

n/a

0.00

0.00

Nowata

0

0

0

0

0

0

n/a

0.00

0.00

Okfuskee

0

0

0

0

0

0

n/a

0.00

0.00

Oklahoma

143

0

98

0

127

368

860

0.48

1.36

Okmulgee

0

0

1

0

47

48

369

1.13

3.18

Osage

0

0

0

0

0

0

n/a

0.00

0.00

Ottawa

2

0

0

0

4

6

2,536

0.16

0.46

Pawnee

0

0

0

0

0

0

n/a

0.00

0.00

Payne

8

0

5

0

5

18

1,793

0.23

0.65

Pittsburg

0

0

0

0

0

0

n/a

0.00

0.00

Pontotoc

0

0

4

0

0

4

3,985

0.10

0.29

Pottawatomie

10

0

12

0

5

27

1,056

0.39

1.11

Pushmataha

0

0

0

0

0

0

n/a

0.00

0.00

Roger Mills

0

0

0

0

0

0

n/a

0.00

0.00

Rogers

24

0

1

0

27

52

590

0.70

1.99

Seminole

0

0

1

0

0

1

11,490

0.04

0.10

Sequoyah

0

0

0

0

0

0

n/a

0.00

0.00

Stephens

0

0

2

0

0

2

10,137

0.04

0.12

Texas

0

0

0

0

1

1

8,313

0.05

0.14

Tillman

0

0

0

0

0

0

n/a

0.00

0.00

Tulsa

157

0

224

0

180

561

462

0.90

2.54

Wagoner

1

0

1

0

1

3

9,329

0.04

0.13

Washington

1

0

2

0

0

3

7,585

0.05

0.15

Washita

0

0

0

0

0

0

n/a

0.00

0.00

Woods

0

0

0

0

0

0

n/a

0.00

0.00

Woodward

0

0

0

0

0

0

n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, 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 homes, with more than 1.3 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 MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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