Real Deals: Saturday, Nov. 8, 2008

Foreclosure rates increase

Foreclosure rates in the Oklahoma City area ticked up in August over August 2007, according to First American CoreLogic, a collector of national, state and local housing data. The company said the rate of foreclosures among outstanding mortgage loans was 1.4 percent in August, up from 1.1 percent in August 2007. Foreclosure activity in Oklahoma City was far lower than the national foreclosure rate of 4.4 percent. There were 2,446 outstanding foreclosures in Oklahoma City, including new and existing filings, First American CoreLogic said.

Home prices up in metro area

Home prices in the Oklahoma City area were up in August compared to August 2007, according to First American CoreLogic Loan Performance Home Price Index, which tracks price trends for repeat home sales. Prices rose 2.41 percent compared to August 2007, with a median price of $133,500, the company said. Nationally, home prices fell by 7.8 percent, with a median price of $203,900.

Director named for association

Anne M. Woody, executive director of the Oklahoma Real Estate Commission, was inducted as president of the Association of Real Estate License Law Officials at a recent conference in Indianapolis. Woody started working at the commission in 1973. She was appointed executive director in 2001. She has been a member of the Association of Real Estate License Law Officials for 22 years.

Schmidt joins Baker First

Ben Schmidt has joined Oklahoma City’s Baker First Commercial Real Estate Services as a broker associate. Previously, he was the leasing broker for Will Rogers Business Park and was an associate for three years with NAI Sullivan Group. He is a member of the Commercial Real Estate Council of Oklahoma City and the Oklahoma CCIM Chapter, an affiliate of the National Association of Realtors that designates the holder as a Certified Commercial Investment Member.

Apartment occupancy up

Oklahoma City’s apartment occupancy ticked up to 92.1 percent in the first half of 2008, according to Hendricks & Partners midyear update. It was the highest second-quarter occupancy on record, the firm said. Five of the city’s six submarkets reported increases in occupancy, Hendricks & Partners said.

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