OKLAHOMA FORECLOSURE ACTIVITY UP 6 PERCENT IN FEBRUARY

Foreclosure Activity Decreases 42 Percent From February 2008

 

IRVINE, Calif. – March 27, 2009 – Oklahoma reported 1,030 properties with foreclosure filings in February, a 6 percent increase from the previous month, but 42 percent below the level reported for February 2008, 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.

 

“Although Oklahoma foreclosures increased in February, the numbers are down significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Oklahoma’s unemployment rate continues to remain well below the national average, and home values have not declined as far as many other states. These factors are likely responsible for the overall decline in foreclosure activity.”

 

Oklahoma ranked 31st in the country in total foreclosures reported for the month. With one in every 1,576 housing units receiving a foreclosure filing, its foreclosure rate ranked 34th among the 50 states.

 

Six counties account for bulk of state foreclosure activity in February

Six Oklahoma counties accounted for 83 percent of all foreclosure activity in the state during February. Tulsa County led the way, reporting 537 properties with foreclosure filings for the month. Oklahoma County was second highest, reporting 204 properties with foreclosure filings. Third highest was Kay County, reporting 31 properties with foreclosure filings. Canadian County and Payne County both came in fourth place, each documenting 27 properties with foreclosure filings. Wagoner County posted the fifth highest foreclosure total, where 25 properties with foreclosure filings were reported.

 

Tulsa County posts highest foreclosure rate for February

Tulsa County reported the highest county foreclosure rate in the state for February, with one in every 488 housing units receiving a foreclosure filing — 3.2 times the state average and equaling national average. Kay County came in second, with one in every 710 housing units receiving a foreclosure filing — 2.2 times the state average. Carter County posted the third highest foreclosure rate, where one in every 1,141 housing units received a foreclosure filing during the month.

 

State contributes less than one percent to nation’s foreclosure total in February

Oklahoma accounted for less than one percent of the 290,631 properties with foreclosure filings reported nationwide in February. The national total represented a 6 percent increase in activity from the previous month and was 30 percent ahead of the total reported for February 2008. One in every 440 U.S. housing units 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 – February 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

54,064

55,509

78,234

28,729

74,095

290,631

440

n/a

n/a

Oklahoma

261

0

542

0

227

1,030

1,576

0.28

n/a

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

1

1

8,710

0.05

0.18

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

3

0

1

0

0

4

1,318

0.33

1.20

Bryan

0

0

0

0

0

0

 n/a

0.00

0.00

Caddo

0

0

0

0

1

1

13,462

0.03

0.12

Canadian

0

0

27

0

0

27

1,499

0.29

1.05

Carter

15

0

0

0

4

19

1,141

0.39

1.38

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

0

0

2

0

1

3

32,924

0.01

0.05

Coal

0

0

0

0

0

0

 n/a

0.00

0.00

Comanche

0

0

0

0

2

2

23,611

0.02

0.07

Cotton

0

0

0

0

0

0

 n/a

0.00

0.00

Craig

1

0

0

0

0

1

6,591

0.07

0.24

Creek

13

0

1

0

8

22

1,346

0.33

1.17

Custer

0

0

0

0

0

0

 n/a

0.00

0.00

Delaware

3

0

1

0

3

7

3,416

0.13

0.46

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

4

0

0

0

0

4

3,230

0.14

0.49

Grady

7

0

0

0

1

8

2,564

0.17

0.61

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

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

1

0

0

0

0

1

3,439

0.13

0.46

Johnston

0

0

0

0

0

0

 n/a

0.00

0.00

Kay

21

0

0

0

10

31

710

0.62

2.22

Kingfisher

3

0

0

0

0

3

2,036

0.22

0.77

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

6

0

0

0

0

6

3,509

0.13

0.45

Lincoln

0

0

0

0

1

1

14,241

0.03

0.11

Logan

7

0

0

0

3

10

1,447

0.30

1.09

Love

0

0

1

0

0

1

4,244

0.10

0.37

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

5

0

0

0

6

11

1,658

0.27

0.95

McClain

1

0

8

0

1

10

1,277

0.34

1.23

McCurtain

1

0

0

0

0

1

16,039

0.03

0.10

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

1

0

0

0

8

9

3,435

0.13

0.46

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

4

0

165

0

35

204

1,568

0.28

1.00

Okmulgee

0

0

0

0

1

1

17,764

0.02

0.09

Osage

2

0

0

0

5

7

2,869

0.15

0.55

Ottawa

1

0

0

0

1

2

7,630

0.06

0.21

Pawnee

0

0

0

0

0

0

 n/a

0.00

0.00

Payne

9

0

12

0

6

27

1,219

0.36

1.29

Pittsburg

0

0

0

0

0

0

 n/a

0.00

0.00

Pontotoc

0

0

4

0

0

4

4,012

0.11

0.39

Pottawatomie

10

0

4

0

4

18

1,593

0.28

0.99

Pushmataha

0

0

0

0

1

1

5,983

0.07

0.26

Roger Mills

0

0

0

0

0

0

 n/a

0.00

0.00

Rogers

8

0

1

0

10

19

1,646

0.27

0.96

Seminole

0

0

0

0

0

0

 n/a

0.00

0.00

Sequoyah

0

0

0

0

0

0

 n/a

0.00

0.00

Stephens

1

0

0

0

0

1

20,348

0.02

0.08

Texas

0

0

0

0

0

0

 n/a

0.00

0.00

Tillman

0

0

1

0

0

1

4,332

0.10

0.36

Tulsa

122

0

314

0

101

537

488

0.90

3.23

Wagoner

12

0

0

0

13

25

1,157

0.38

1.36

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

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.

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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