Oklahoma Foreclosures in October

Statewide filings down 48 percent from September

 

Oklahoma reported 1,552 properties with foreclosure filings in October, down 48 percent from the previous month, but still 90 percent above the level reported in October 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 1,046 Oklahoma housing units received a foreclosure filing in October, the 35th highest foreclosure rate in the nation.

 

Oklahoma reported an impressive drop in foreclosure activity for October, though the number of foreclosure notices within the state remains nearly double what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remains well below the national average, which will likely help keep additional foreclosures at a minimum in the coming months should this trend continue.”

 

Le Flore County posts state’s top foreclosure rate in October

Le Flore County posted the highest county foreclosure rate in Oklahoma for October, with one in every 215 housing units receiving a foreclosure filing — 4.9 times the state average. Canadian County ranked second, reporting one in every 256 housing units receiving a foreclosure filing — 4.1 times the state average. Creek County had the third highest foreclosure rate, with one in every 348 housing units receiving a foreclosure filing — three times the state average. Grady County posted the fourth highest foreclosure rate, where one in every 446 housing units received a foreclosure filing during the month — 2.3 times the state average.

 

Tulsa County tops state in foreclosure totals during October

Tulsa County led all counties, totaling 532 properties with foreclosure filings for the month. Oklahoma County was second highest, documenting 219 properties with foreclosure filings. Canadian County was third highest total in the state, reporting 158 properties with foreclosure filings for October. Cleveland County came in fourth, reporting 142 properties with foreclosure filings, while the fifth highest total was in Le Flore County, where 98 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in October

Oklahoma accounted for less than 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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 Top Foreclosure Rates By County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Oklahoma

0

12,659

0

3,081

4,206

19,946

263

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Le Flore

0

0

0

0

98

98

215

1.79

4.87

Canadian

0

72

0

45

41

158

256

1.50

4.08

Creek

0

15

0

37

33

85

348

1.11

3.00

Grady

0

16

0

21

9

46

446

0.86

2.35

Tulsa

0

196

0

200

136

532

493

0.78

2.12

 

 

Oklahoma Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Oklahoma

0

12,659

0

3,081

4,206

19,946

263

-48.49

89.96

 

 

 

 

 

 

 

 

 

 

Tulsa

0

196

0

200

136

532

493

-68.41

39.27

Oklahoma

0

57

0

137

25

219

1,461

-60.33

121.21

Canadian

0

72

0

45

41

158

256

12.06

15,700.00

Cleveland

0

74

0

64

4

142

696

37.86

264.10

Le Flore

0

0

0

0

98

98

215

172.22

1,860.00

 

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