News 9 reported earlier this week that foreclosures are on the Decline in Oklahoma, and nationally. We’ve weathered that storm pretty well all along, as evidenced by this tidbit:

In Oklahoma, one out of every 1,851 homes faces foreclosure in May, compared to the national rate of one in every 398 homes

While the ‘experts’ will tell you that we’re not out of the woods yet, I’m not sure Oklahoma ever really stumbled into the forest.

‘Foreclosure’ is one of the big buzz words among the home-buying public these days, and for good reason; it’s hammered into our heads each night as we turn on the tube. Naturally, as a result, the perception with the general public is that foreclosures are everywhere and they can be bought for fifty cents on the dollar.

Here’s some reality though.  According to Dave Ramsey, roughly 60% of the foreclosures currently littering the US real estate market are located in only 4 states (California, Nevada, Arizona, and Florida), leaving the remaining 46 states with a very small piece of the foreclosure pie.

CNNMoney.com just published some more interesting foreclosure statistics, and one in particular was quite staggering:

• In Las Vegas, one in every 22 homes was subject to a foreclosure filing in the first three months of the year