OKLAHOMA FORECLOSURE ACTIVITY UP 47 PERCENT IN JULY

Foreclosure Activity Up 92 Percent From July 2007

 

IRVINE, Calif. – Aug. 29, 2008 – Oklahoma reported 1,728 properties with foreclosure filings in July, a 47 percent increase from the previous month, and a 92 percent increase from July 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.

 

Oklahoma foreclosures are up both in July and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “At a time like this where the housing market has declined rapidly nationwide, most states are seeing a jump in foreclosures.”

 

Oklahoma ranked 26th in the country in total foreclosures reported for July. With one in every 930 households receiving a foreclosure filing, its foreclosure rate ranked 24th among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity

Five Oklahoma counties accounted for 89 percent of all foreclosure activity in the state for July. Oklahoma County documented the highest foreclosure total, reporting 809 properties with foreclosure filings. Tulsa County documented the second highest foreclosure total, reporting 597 properties with foreclosure filings. Cleveland County reported the third highest foreclosure total, reporting 56 properties with foreclosure filings. Canadian County posted the fourth highest foreclosure total, reporting 54 properties with foreclosure filings. Washington County came in fifth with 27 properties with foreclosure filings.

 

Oklahoma County posts top foreclosure rate for July

Oklahoma County tallied the highest county foreclosure rate in Oklahoma for July, with one in every 391 households receiving a foreclosure filing for the month — 2.4 times the state average. Tulsa County posted the state’s second highest foreclosure rate, with one in every 435 households receiving a foreclosure filing during the month — 2.1 times the state average. Canadian County posted the third highest foreclosure rate in Oklahoma, where one in every 730 households received a foreclosure filing in July.

 

State contributes 1 percent to nation’s foreclosure total in July

Oklahoma accounted for 1 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 U.S. households received 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 – July 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X  HH (rate)

/National Average

/State Average

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

Oklahoma

457

0

602

0

669

1,728

930

0.50

n/a

 

 

 

 

 

 

 

 

 

Adair

0

0

1

0

0

1

8,673

0.05

0.11

Alfalfa

0

0

0

0

0

0

 n/a

0.00

0.00

Atoka

0

0

0

0

0

0

 n/a

0.00

0.00

Beaver

0

0

0

0

0

0

 n/a

0.00

0.00

Beckham

0

0

0

0

0

0

 n/a

0.00

0.00

Blaine

0

0

0

0

0

0

 n/a

0.00

0.00

Bryan

0

0

0

0

0

0

 n/a

0.00

0.00

Caddo

0

0

0

0

0

0

 n/a

0.00

0.00

Canadian

17

0

23

0

14

54

730

0.64

1.28

Carter

0

0

0

0

6

6

3,598

0.13

0.26

Cherokee

0

0

0

0

0

0

 n/a

0.00

0.00

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

22

0

12

0

22

56

1,731

0.27

0.54

Coal

0

0

0

0

1

1

2,815

0.16

0.33

Comanche

0

0

2

0

1

3

15,562

0.03

0.06

Cotton

0

0

0

0

0

0

 n/a

0.00

0.00

Craig

0

0

0

0

1

1

6,579

0.07

0.14

Creek

7

0

1

0

9

17

1,725

0.27

0.54

Custer

0

0

0

0

0

0

 n/a

0.00

0.00

Delaware

4

0

0

0

6

10

2,371

0.20

0.39

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

3

3

4,296

0.11

0.22

Grady

6

0

3

0

1

10

2,038

0.23

0.46

Grant

0

0

0

0

0

0

 n/a

0.00

0.00

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

1

0

0

1

6,355

0.07

0.15

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

0

0

0

0

0

 n/a

0.00

0.00

Johnston

0

0

0

0

0

0

 n/a

0.00

0.00

Kay

0

0

1

0

4

5

4,390

0.11

0.21

Kingfisher

0

0

0

0

0

0

 n/a

0.00

0.00

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

2

0

2

4

5,236

0.09

0.18

Lincoln

0

0

1

0

8

9

1,576

0.29

0.59

Logan

5

0

0

0

5

10

1,440

0.32

0.65

Love

0

0

1

0

0

1

4,231

0.11

0.22

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

2

5

3,633

0.13

0.26

McClain

3

0

6

0

1

10

1,252

0.37

0.74

McCurtain

0

0

0

0

1

1

15,973

0.03

0.06

McIntosh

0

0

0

0

0

0

 n/a

0.00

0.00

Murray

0

0

0

0

0

0

 n/a

0.00

0.00

Muskogee

0

0

1

0

2

3

10,258

0.05

0.09

Noble

0

0

0

0

0

0

 n/a

0.00

0.00

Nowata

0

0

1

0

0

1

4,821

0.10

0.19

Okfuskee

0

0

0

0

0

0

 n/a

0.00

0.00

Oklahoma

243

0

276

0

290

809

391

1.19

2.38

Okmulgee

0

0

0

0

1

1

17,730

0.03

0.05

Osage

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

1

0

0

0

0

1

15,217

0.03

0.06

Pawnee

0

0

0

0

4

4

1,919

0.24

0.48

Payne

1

0

8

0

8

17

1,899

0.24

0.49

Pittsburg

0

0

2

0

1

3

7,442

0.06

0.12

Pontotoc

0

0

1

0

0

1

15,938

0.03

0.06

Pottawatomie

5

0

8

0

3

16

1,782

0.26

0.52

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

10

0

1

0

7

18

1,705

0.27

0.55

Seminole

0

0

1

0

0

1

11,490

0.04

0.08

Sequoyah

0

0

1

0

1

2

8,941

0.05

0.10

Stephens

0

0

1

0

0

1

20,274

0.02

0.05

Texas

0

0

0

0

0

0

 n/a

0.00

0.00

Tillman

0

0

0

0

0

0

 n/a

0.00

0.00

Tulsa

105

0

246

0

246

597

435

1.07

2.14

Wagoner

13

0

1

0

4

18

1,555

0.30

0.60

Washington

12

0

0

0

15

27

843

0.55

1.10

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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