Oklahoma and other States See a Significant Drop

Some areas in Oklahoma have experienced declining number of foreclosure homes on auction. In Chickasha, foreclosure activities dropped for November compared with July when the city recorded its highest single month foreclosed property total for the year 2010. Although the total is not too high when compared with other cities in the U.S., for an area the size of Chickasha, the number is already considered significant.

Some areas in Oklahoma have experienced declining number of foreclosure homes on auction. In Chickasha, foreclosure activities dropped for November compared with July when the city recorded its highest single month foreclosed property total for the year 2010. Although the total is not too high when compared with other cities in the U.S., for an area the size of Chickasha, the number is already considered significant.

The region has been hit with high levels of Oklahoma City foreclosures and foreclosed real estate in other areas of the state in 2010. For Chickasha, the highest for the year was posted in July, with the city reaching a total of 35 foreclosed properties. Since then though, the number has not gone beyond 22 for every month, with the November total reaching only 18.

Although this is considered a small number compared with Oklahoma foreclosures in other cities and towns of the state, the total means that one household out of every 538 in Chickasha is under some form of foreclosure. The city's foreclosure percentage, along with that of Grady County, is also higher when compared with the statewide figure for November 2010. Chickasha's foreclosure activity per area was 0.19% for the month as opposed to the statewide percentage of 0.11. Grady County, on the other hand, had a 0.18% foreclosure rate.

Despite the foreclosure homes on auction percentages, both the city and the whole state did better than the U.S. National foreclosed property percentage by area in November was pegged at 0.20%, which translates to a ratio of one household for every 492. For the Oklahoma state, one household out of every 870 received a filing for the month, while Grady County had a ratio of one for every 538.

For Grady County, the best performing community for November was Rush Springs which only had one foreclosure for November. Tuttle recorded a total of eight foreclosures, while Minco had four. Amber, like Rush Springs, also had one. Analysts stated that despite the low totals, foreclosure rates in the three Grady County areas are rising.

Compared with the rest of the U.S., most local communities in Oklahoma are doing well in terms of foreclosure homes on auction numbers. However, because of their small totals, any increase will create a considerable percentage jump, analysts have added.