OKLAHOMA FORECLOSURES INCREASE 4 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 45 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Oklahoma reported 1,430 properties entering some stage of the foreclosure process in September, up 4 percent from the 1,378 properties reported in August, and a 45 percent increase above the 983 properties reported for the same month last year, according to the RealtyTrac™ September 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

“Though Oklahoma is still adding jobs, the rate of employment growth is beginning to slow,” said James J. Saccacio, chief executive officer of RealtyTrac. “Oklahoma foreclosures have been consistently elevated and are near the highest reported in a decade.”

 

Oklahoma ranked 19th in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 1,045 households — just below the national average — ranks it 17th among the 50 states.

 

Three counties account for nearly all of the state’s foreclosure activity

Three counties accounted for 82 percent of the state’s activity. Oklahoma County had the largest share, reporting 503 properties entering some stage of the foreclosure process during the month. Tulsa County had the second highest total, reporting 366 properties entering some stage of foreclosure. Third highest was Comanche County, reporting 297 properties in foreclosure.

 

Highest foreclosure rate reported in Comanche County

Comanche County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 153 households — 6.8 times the state average and 6.7 times the national average. Reporting one new foreclosure filing for every 492 households — 2.1 times the state average and 2.1 times the national average — Canadian County had the second highest foreclosure rate in the state.

 

Oklahoma makes small contribution to national total

Oklahoma’s foreclosure activity accounted for just over 1 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents an almost 1 percent decrease in activity from the 113,300 foreclosures reported in August. The national foreclosure rate increased to one new foreclosure filing for every 1,030 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

    

 

                    Oklahoma Foreclosure Market by County – September 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

25,379

43,840

6,285

19,338

17,368

112,210

1,030

Oklahoma

465

487

0

0

478

1,430

1,045

0.99

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

0.00

0.00

Canadian

31

28

0

0

10

69

492

2.09

2.12

Cherokee

0

0

0

0

0

0

0.00

0.00

Choctaw

0

1

0

0

0

1

7,539

0.14

0.14

Cleveland

48

33

0

0

16

97

875

1.18

1.19

Comanche

0

0

0

0

297

297

153

6.74

6.83

Cotton

0

1

0

0

0

1

3,085

0.33

0.34

Craig

0

1

0

0

0

1

6,459

0.16

0.16

Creek

2

1

0

0

0

3

9,329

0.11

0.11

Delaware

1

0

0

0

0

1

2,290

0.45

0.46

Garfield

0

0

0

0

0

0

0.00

0.00

Grady

0

10

0

0

0

10

1,944

0.53

0.54

Jackson

0

1

0

0

0

1

12,377

0.08

0.08

Kingfisher

0

0

0

0

0

0

0.00

0.00

Lincoln

0

0

0

0

3

3

4,571

0.23

0.23

Logan

0

2

0

0

0

2

6,953

0.15

0.15

Love

0

0

0

0

0

0

0.00

0.00

Mayes

0

2

0

0

0

2

8,712

0.12

0.12

McClain

0

6

0

0

0

6

1,865

0.55

0.56

Mcintosh

0

1

0

0

0

1

12,640

0.08

0.08

Murray

1

0

0

0

0

1

6,479

0.16

0.16

Muskogee

0

1

0

0

0

1

29,575

0.03

0.04

Nowata

0

0

0

0

1

1

4,705

0.22

0.22

Oklahoma

187

244

0

0

72

503

587

1.76

1.78

Osage

9

0

0

0

4

13

1,448

0.71

0.72

Ottawa

0

1

0

0

0

1

14,842

0.07

0.07

Payne

0

0

0

0

0

0

0.00

0.00

Pittsburg

0

1

0

0

0

1

21,520

0.05

0.05

Pottawatomie

0

7

0

0

0

7

3,900

0.26

0.27

Rogers

14

0

0

0

9

23

1,195

0.86

0.87

Sequoyah

0

1

0

0

0

1

16,940

0.06

0.06

Tulsa

165

142

0

0

59

366

667

1.55

1.57

Wagoner

0

1

0

0

0

1

23,174

0.04

0.05

Washington

7

2

0

0

7

16

1,391

0.74

0.75

 

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 construction properties, with more than 1 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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