OKLAHOMA FORECLOSURE ACTIVITY INCREASES 2 PERCENT IN FIRST QUARTER

State Foreclosure Activity Down 10 Percent From Q1 2008

Monthly Foreclosure Activity Up 9 percent in March, Down 23 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 2,912 Oklahoma properties in the first quarter of 2009, a 2 percent increase from the previous quarter, and 10 percent below the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Oklahoma reported 1,119 properties with foreclosure filings in March, a 9 percent increase from the previous month, but still 23 percent below its March 2008 total.

 

“Oklahoma’s foreclosure activity increased only slightly in the first quarter of 2009 and remained significantly lower than at the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, unemployment is expected to burden the state further in the coming months, which would certainly lead to additional financial distress among homeowners.”

 

Oklahoma ranked 31st in the country in total properties with foreclosure filings for the quarter. One in every 557 Oklahoma housing units received a foreclosure filing during the month, the 34th highest state foreclosure rate in the nation.

 

Tulsa County the single largest contributor to state total for the quarter

Tulsa County led the state reporting 1,285 properties with foreclosure filings. Oklahoma County was second, reporting 583 properties with foreclosure filings for the quarter. Kay County was in third, reporting 209 properties with foreclosure filings. Canadian County registered the fourth highest total, documenting 92 properties with foreclosure filings.

 

Kay County posts state’s top foreclosure rate in the state for first quarter

Kay County led the state, with one in every 105 housing units receiving a foreclosure filing — 5.3 times the state average. Tulsa County came in second, with one in every 204 housing units receiving a foreclosure filing — 2.7 times the state average. Grady County posted the third highest foreclosure rate, where one in every 336 housing units received a foreclosure filing during the month — 1.7 times the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Oklahoma accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

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 quarter  — 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 quarter — which is extremely rare — only the most recent filing is counted in the report.

 

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 – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%? from Q4 08

%? from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

Oklahoma

802

0

1,249

0

861

2,912

557

1.68

-10.10

 

 

 

 

 

 

 

 

 

 

Adair

1

0

1

0

1

3

2,903

50.00%

Alfalfa

0

0

0

0

0

0

Atoka

0

0

0

0

0

0

Beaver

0

0

0

0

0

0

Beckham

0

0

0

0

0

0

-100.00%

Blaine

5

0

3

0

0

8

659

100.00%

Bryan

0

0

0

0

0

0

-100.00%

-100.00%

Caddo

0

0

3

0

1

4

3,366

33.33%

Canadian

1

0

86

0

5

92

440

17.95%

-32.35%

Carter

27

0

0

0

8

35

619

29.63%

218.18%

Cherokee

22

0

0

0

13

35

599

105.88%

105.88%

Choctaw

0

0

0

0

0

0

-100.00%

Cimarron

0

0

0

0

0

0

Cleveland

0

0

13

0

2

15

6,585

-86.49%

-93.93%

Coal

0

0

0

0

0

0

Comanche

0

0

1

0

3

4

11,806

-98.86%

Cotton

0

0

1

0

0

1

3,147

Craig

2

0

1

0

1

4

1,648

-42.86%

Creek

18

0

3

0

29

50

592

-12.28%

100.00%

Custer

0

0

0

0

3

3

4,008

Delaware

9

0

1

0

6

16

1,495

-44.83%

45.45%

Dewey

0

0

0

0

0

0

Ellis

0

0

0

0

0

0

Garfield

0

0

0

0

0

0

-100.00%

-100.00%

Garvin

7

0

0

0

0

7

1,846

75.00%

Grady

30

0

16

0

15

61

336

64.86%

48.78%

Grant

0

0

0

0

0

0

Greer

0

0

0

0

0

0

Harmon

0

0

0

0

0

0

Harper

0

0

0

0

0

0

Haskell

0

0

1

0

0

1

5,804

0.00%

Hughes

0

0

0

0

0

0

-100.00%

Jackson

0

0

1

0

0

1

12,533

Jefferson

1

0

0

0

0

1

3,439

0.00%

Johnston

0

0

0

0

0

0

Kay

37

0

0

0

172

209

105

1000.00%

736.00%

Kingfisher

3

0

1

0

0

4

1,527

-55.56%

100.00%

Kiowa

0

0

0

0

0

0

Latimer

1

0

0

0

0

1

4,863

Le Flore

33

0

0

0

12

45

468

28.57%

200.00%

Lincoln

1

0

0

0

2

3

4,747

-25.00%

Logan

24

0

0

0

13

37

391

-47.14%

8.82%

Love

0

0

1

0

0

1

4,244

Major

0

0

0

0

0

0

Marshall

0

0

0

0

0

0

Mayes

20

0

1

0

9

30

608

3.45%

57.89%

McClain

9

0

17

0

6

32

399

113.33%

3100.00%

McCurtain

10

0

0

0

1

11

1,458

57.14%

83.33%

McIntosh

0

0

0

0

0

0

-100.00%

Murray

0

0

0

0

0

0

-100.00%

Muskogee

1

0

2

0

20

23

1,344

-55.77%

-17.86%

Noble

0

0

1

0

0

1

5,185

0.00%

Nowata

0

0

1

0

0

1

4,839

Okfuskee

0

0

0

0

0

0

Oklahoma

12

0

469

0

102

583

549

-7.90%

-53.95%

Okmulgee

0

0

1

0

1

2

8,882

0.00%

Osage

2

0

1

0

5

8

2,510

60.00%

-65.22%

Ottawa

2

0

0

0

1

3

5,086

0.00%

Pawnee

0

0

0

0

3

3

2,570

50.00%

Payne

7

0

31

0

7

45

731

-18.18%

21.62%

Pittsburg

0

0

0

0

0

0

-100.00%

Pontotoc

0

0

14

0

0

14

1,146

27.27%

Pottawatomie

29

0

21

0

22

72

398

14.29%

50.00%

Pushmataha

0

0

0

0

1

1

5,983

Roger Mills

0

0

0

0

0

0

Rogers

18

0

4

0

28

50

626

-39.02%

-41.18%

Seminole

0

0

0

0

0

0

Sequoyah

0

0

1

0

0

1

18,001

0.00%

Stephens

2

0

0

0

3

5

4,070

0.00%

Texas

0

0

0

0

0

0

Tillman

0

0

2

0

0

2

2,166

Tulsa

423

0

546

0

316

1,285

204

35.41%

22.73%

Wagoner

32

0

3

0

34

69

419

-6.76%

-2.82%

Washington

13

0

1

0

16

30

765

275.00%

-3.23%

Washita

0

0

0

0

0

0

Woods

0

0

0

0

0

0

Woodward

0

0

0

0

0

0

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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