Oklahoma Foreclosure Activity Falls in August

Filings decrease 1 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,980 Oklahoma properties in August, a 1 percent decrease from the previous month, but a 52 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Oklahoma reported a slight dip in foreclosure filings in August, though activity remained well above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state rose to 7 percent in August, marking almost a 23 year high. However, Oklahoma continues to ride out the effects of recession better than much of the nation in terms of both joblessness and foreclosure activity.”

 

The state reported the 33rd highest state foreclosure rate, as one in every 827 Oklahoma housing units received a foreclosure filing during the month.

 

Cherokee County leads the state in foreclosure rate for August

Cherokee County, where one in every 337 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Oklahoma. One in every 341 housing units received a foreclosure filing in Wagoner County, for the second highest rate in the state. Coming in third was Tulsa County, where one in every 363 housing units received a foreclosure filing in August. Fourth highest was Creek County, where one in every 378 housing units received a foreclosure filing. Canadian County came in fifth, with one in every 406 housing units receiving a foreclosure filing during the month.

 

State’s top foreclosure total for August posted in Tulsa County

Tulsa County led Oklahoma in total foreclosure activity for August, reporting 731 properties with foreclosure filings. Oklahoma County documented the second highest foreclosure activity, where 305 properties with foreclosure filings were reported. Cleveland County came in third, tallying 116 properties with foreclosure filings. Fourth highest was Comanche County, where 108 properties with foreclosure filings were reported. Canadian County came in fifth, reporting 102 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Oklahoma accounted for 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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 – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Oklahoma

0

681

10

699

590

1,980

827

0.46

n/a

 

 

 

 

 

 

 

 

 

 

Cherokee

0

45

0

0

18

63

337

1.13

2.46

Wagoner

0

32

0

46

9

87

341

1.12

2.43

Tulsa

0

319

4

267

141

731

363

1.05

2.28

Creek

0

22

0

23

34

79

378

1.01

2.19

Canadian

0

57

0

24

21

102

406

0.94

2.04

 

 

Oklahoma Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Oklahoma

0

681

10

699

590

1,980

827

-0.90

52.07

 

 

 

 

 

 

 

 

 

 

Tulsa

0

319

4

267

141

731

363

-4.69

26.69

Oklahoma

0

44

2

189

70

305

1,059

-16.89

63.10

Cleveland

0

48

1

56

11

116

864

-37.97

22.11

Comanche

0

0

1

0

107

108

445

10,700.00

2,600.00

Canadian

0

57

0

24

21

102

406

4.08

14.61

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved