COLORADO FORECLOSURES DECREASE 10 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Rate Nation’s Third Highest; Activity Up 54 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Colorado documented 5,705 foreclosure filings in June, a 10 percent decrease from the previous month, but still 54 percent above the total reported in June 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in Colorado let up slightly in June although on a yearly basis filings are still up by more than half,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure filings in Colorado continue to plague the state, especially in Adams, Arapahoe, Denver and Weld counties.”

 

Colorado ranked 9th in the county in total foreclosures reported for June. The state’s foreclosure rate of one foreclosure filing for every 317 households ranked third among the 50 states.

 

Five counties account for majority of state’s foreclosure activity

The combined foreclosure filings of five counties accounted for 75 percent of all foreclosures in Colorado in June. Denver County documented the highest total, reporting 1,229 foreclosure filings for the month. Arapahoe County documented the second highest total in the state, reporting 1,044 foreclosure filings. Third highest total was reported in Adams County with 1,023 foreclosure filings. Jefferson County came in fourth with 541 foreclosure filings. Weld County reported the state’s fifth highest total with 454 filings in the foreclosure pipeline.

 

Adams County posts state’s top foreclosure rate

Adams County tallied the highest foreclosure rate in Colorado for June, one foreclosure filing for every 130 households — 2.5 times the state average and 5.4 times the national average. Weld County registered the second highest foreclosure rate, one foreclosure filing for every 146 households — 2.2 times the state average and 4.8 times the national average. Arapahoe County posted the third highest foreclosure rate in the state, one foreclosure filing for every 189 households — 1.7 times the state average and 3.7 times national average. Denver County posted the state’s fourth highest foreclosure rate, one foreclosure filing for every 205 households — 1.6 times the state average and 3.4 times national average.

 

State makes significant contribution to national total

Total foreclosure filings in Colorado accounted for nearly 3 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for 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: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                          Colorado Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Colorado

99

5,095

0

0

511

5,705

317

2.22

n/a

 

 

 

 

 

 

 

 

 

 

Adams

16

958

0

0

49

1,023

5.43

2.45

2.44

Alamosa

0

2

0

0

1

3

0.35

0.16

0.15

Arapahoe

10

752

0

0

282

1,044

3.73

1.68

1.68

Archuleta

0

8

0

0

5

13

1.47

0.66

0.66

Boulder

3

78

0

0

3

84

0.49

0.22

0.22

Broomfield

1

31

0

0

2

34

1.67

0.75

0.75

Chaffee

0

5

0

0

3

8

0.67

0.30

0.30

Clear Creek

0

3

0

0

0

3

0.41

0.19

0.18

Delta

0

4

0

0

6

10

0.57

0.26

0.25

Denver

20

1,182

0

0

27

1,229

3.44

1.55

1.54

Dolores

0

0

0

0

0

0

0.00

0.00

0.00

Douglas

5

292

0

0

1

298

3.31

1.49

1.49

Eagle

0

3

0

0

0

3

0.10

0.04

0.04

El Paso

11

384

0

0

2

397

1.38

0.62

0.62

Elbert

0

5

0

0

2

7

0.69

0.31

0.31

Fremont

0

13

0

0

0

13

0.53

0.24

0.24

Garfield

0

3

0

0

0

3

0.12

0.05

0.05

Grand

0

3

0

0

0

3

0.19

0.09

0.08

Gunnison

0

1

0

0

0

1

0.08

0.03

0.03

Jefferson

13

443

0

0

85

541

1.79

0.81

0.80

La Plata

0

9

0

0

1

10

0.34

0.15

0.15

Lake

0

1

0

0

0

1

0.18

0.08

0.08

Larimer

4

226

0

0

5

235

1.57

0.71

0.70

Las Animas

0

3

0

0

3

6

0.55

0.25

0.24

Lincoln

0

1

0

0

3

4

1.17

0.53

0.52

Logan

0

6

0

0

0

6

0.50

0.23

0.22

Mesa

2

48

0

0

2

52

0.76

0.34

0.34

Moffat

0

1

0

0

0

1

0.12

0.06

0.05

Montezuma

0

5

0

0

0

5

0.34

0.15

0.15

Montrose

0

3

0

0

0

3

0.15

0.07

0.06

Morgan

0

9

0

0

0

9

0.61

0.27

0.27

Otero

0

1

0

0

1

2

0.16

0.07

0.07

Park

1

6

0

0

1

8

0.53

0.24

0.23

Pitkin

0

3

0

0

0

3

0.21

0.09

0.09

Prowers

0

2

0

0

5

7

0.82

0.37

0.37

Pueblo

4

156

0

0

8

168

2.01

0.90

0.90

Rio Grande

0

0

0

0

1

1

0.25

0.11

0.11

Routt

1

1

0

0

0

2

0.13

0.06

0.05

San Juan

0

1

0

0

0

1

1.11

0.50

0.50

Summit

0

1

0

0

0

1

0.03

0.01

0.01

Teller

1

8

0

0

0

9

0.61

0.28

0.27

Weld

7

434

0

0

13

454

4.83

2.17

2.17

 

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 1.3 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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