OKLAHOMA FORECLOSURES UP 3 PERCENT IN AUGUST

State’s Activity 19 Percent Higher Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Oklahoma reported 1,414 properties entering some stage of the foreclosure process in August, a 3 percent increase in activity from the 1,370 properties reported in July, and 19 percent above the 1,185 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and Knight Ridder Online.

 

“Despite robust economic growth in Oklahoma, foreclosure activity in the state has increased slightly over the summer,” said James J. Saccacio, chief executive officer of RealtyTrac. “This could be related to high energy prices and the slow down in real estate that is being witnessed in many parts of the country.”

 

Oklahoma ranked 19th in the country in total foreclosures reported for August. The state’s foreclosure rate of one new foreclosure filing for every 1,057 households — 95 percent of the national average — ranks it 14th among the 50 states.

 

Top two counties account for largest share of state total

Two counties accounted for 57 percent of all foreclosures in the state of Oklahoma for August. Leading the was Tulsa County, reporting 420 properties entering some stage of the foreclosure process. Oklahoma County had the second highest total, reporting 386 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Wagoner County

Wagoner County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 163 households — 6.5 times the state average and 6.2 times the national average.  Reporting one new foreclosure filing for every 205 households — 5.2 times the state average and 4.9 times the national average — Logan County had the second highest foreclosure rate in the state.

 

State has minor impact on national total

Oklahoma‘s foreclosure activity accounted for just over 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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 – August 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Oklahoma

466

396

0

0

552

1,414

1,057

0.95

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

0.00

0.00

Canadian

31

16

0

0

8

55

618

1.62

1.71

Carter

0

0

0

0

0

0

0.00

0.00

Cherokee

4

0

0

0

0

4

4,875

0.21

0.22

Choctaw

0

0

0

0

1

1

7,539

0.13

0.14

Cleveland

40

61

0

0

13

114

744

1.35

1.42

Cotton

0

1

0

0

0

1

3,085

0.33

0.34

Craig

0

0

0

0

0

0

0.00

0.00

Creek

0

2

0

0

0

2

13,993

0.07

0.08

Delaware

0

0

0

0

1

1

2,290

0.44

0.46

Garfield

1

0

0

0

0

1

26,047

0.04

0.04

Grady

1

10

0

0

1

12

1,620

0.62

0.65

Kingfisher

0

0

0

0

0

0

0.00

0.00

Le Flore

0

0

0

0

1

1

20,142

0.05

0.05

Logan

0

0

0

0

68

68

205

4.90

5.17

Mayes

0

0

0

0

0

0

0.00

0.00

McClain

0

9

0

0

0

9

1,243

0.81

0.85

Mcintosh

0

1

0

0

1

2

6,320

0.16

0.17

Murray

0

0

0

0

0

0

 

0.00

0.00

Muskogee

0

0

0

0

88

88

336

2.98

3.14

Okfuskee

0

1

0

0

0

1

5,114

0.20

0.21

Oklahoma

215

96

0

0

75

386

764

1.31

1.38

Okmulgee

1

0

0

0

0

1

17,316

0.06

0.06

Osage

4

1

0

0

3

8

2,353

0.43

0.45

Ottawa

0

1

0

0

0

1

14,842

0.07

0.07

Payne

0

1

0

0

2

3

9,775

0.10

0.11

Pittsburg

2

0

0

0

0

2

10,760

0.09

0.10

Pottawatomie

0

14

0

0

0

14

1,950

0.51

0.54

Rogers

37

0

0

0

14

51

539

1.86

1.96

Seminole

0

1

0

0

1

2

5,573

0.18

0.19

Sequoyah

0

0

0

0

1

1

16,940

0.06

0.06

Stephens

1

0

0

0

0

1

19,854

0.05

0.05

Tulsa

116

180

0

0

124

420

581

1.73

1.82

Wagoner

2

0

0

0

140

142

163

6.15

6.48

Washington

11

1

0

0

10

22

1,011

0.99

1.05

 

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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