COLORADO FORECLOSURES DECREASE 10 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity 88 Percent Above a Year Ago; Foreclosure Rate Falls to Second Highest

 

IRVINE, Calif. – Dec. 11, 2006 – Colorado reported 5,051 properties entering some stage of the foreclosure process in November, a 10 percent decrease from the 5,592 properties reported in October, but still an 88 percent increase above the 2,687 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.  

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 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.

 

Colorado’s foreclosure rate remains high despite a slight decrease in foreclosures this month,” said James J. Saccacio, chief executive officer of RealtyTrac. “Colorado’s home price appreciation was significantly below the national average in the third quarter, which means homeowners facing the prospect of foreclosure may not have as much equity to work with if they try to sell or refinance out of their predicament.”

 

Four counties account for majority of state’s foreclosure activity

Four counties accounted for 65 percent of all foreclosures in Colorado during November. Leading the way was Adams County, reporting 1,003 properties entering some stage of the foreclosure process for the month. Denver County had the second highest total, reporting 995 properties entering some stage of foreclosure. Third highest was Arapahoe County, reporting 764 properties entering foreclosure, followed closely by Jefferson County, reporting 506 properties entering some stage of the foreclosure pipeline.

 

Adams, Weld and Denver counties post top foreclosure rates

Adams County also led the state in terms of foreclosure rate, reporting one new foreclosure filing for every 132 households — 2.7 times the state average and 7.3 times the national average. Next highest was Weld County, reporting one new foreclosure filing for every 155 households — 2.3 times the state average and 6.2 times the national average. Reporting one new foreclosure filing for every 253 households — 1.4 times the state average and 3.8 times the national average — Denver County’s foreclosure rate ranked third highest for the month.

 

State still national foreclosure rate leader

After eight consecutive months as the nation’s highest, Colorado’s foreclosure rate fell to second highest in November. The state documented one new foreclosure filing for every 362 households during the month. Colorado’s foreclosure activity accounted for 4 percent of the 120,334 properties entering some stage of foreclosure nationwide during the month. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 households.  

 

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).

 

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

 

                      Colorado Foreclosure Market by County – November 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Colorado

42

4,106

0

0

903

5,051

362

2.65

n/a

 

 

 

 

 

 

 

 

 

 

Adams

7

791

0

0

205

1,003

132

7.26

2.74

Alamosa

0

1

0

0

3

4

1,522

0.63

0.23

Arapahoe

7

632

0

0

125

764

258

3.73

1.40

Archuleta

0

0

0

0

1

1

6,212

0.15

0.05

Boulder

1

84

0

0

49

134

895

1.07

0.40

Broomfield

0

29

0

0

6

35

n/a

n/a

n/a

Chaffee

0

0

0

0

2

2

4,196

0.22

0.08

Clear Creek

0

9

0

0

0

9

570

1.68

0.63

Delta

0

8

0

0

0

8

1,547

0.62

0.23

Denver

9

813

0

0

173

995

253

3.80

1.43

Douglas

2

116

0

0

11

129

491

1.95

0.73

Eagle

0

1

0

0

0

1

22,111

0.04

0.01

El Paso

4

331

0

0

36

371

605

1.58

0.59

Elbert

1

12

0

0

5

18

395

2.43

0.91

Fremont

1

26

0

0

8

35

490

1.96

0.74

Garfield

0

0

0

0

2

2

8,668

0.11

0.04

Grand

0

0

0

0

0

0

n/a 

0.00

0.00

Gunnison

0

2

0

0

0

2

4,568

0.21

0.07

Jefferson

1

357

0

0

148

506

420

2.28

0.86

La Plata

1

18

0

0

1

20

1,038

0.92

0.34

Lake

0

0

0

0

0

0

n/a 

0.00

0.00

Larimer

0

148

0

0

27

175

602

1.59

0.60

Las Animas

0

0

0

0

5

5

1,526

0.63

0.23

Logan

0

3

0

0

2

5

1,685

0.57

0.21

Mesa

1

71

0

0

4

76

637

1.50

0.56

Moffat

0

3

0

0

0

3

1,878

0.51

0.19

Montezuma

0

8

0

0

1

9

1,166

0.82

0.31

Montrose

0

17

0

0

2

19

747

1.28

0.48

Morgan

0

12

0

0

2

14

744

1.29

0.48

Otero

0

1

0

0

4

5

1,763

0.54

0.20

Park

0

4

0

0

2

6

1,783

0.53

0.20

Pitkin

0

2

0

0

1

3

3,365

0.28

0.10

Pueblo

2

204

0

0

22

228

258

3.71

1.40

Rio Blanco

0

1

0

0

1

2

1,428

0.67

0.25

Routt

0

4

0

0

0

4

2,804

0.34

0.12

Sedgwick

0

1

0

0

0

1

1,387

0.69

0.26

Summit

1

1

0

0

1

3

8,067

0.11

0.04

Teller

1

22

0

0

2

25

414

2.31

0.87

Weld

3

373

0

0

52

428

155

6.21

2.34

Yuma

0

1

0

0

0

1

4,295

0.22

0.08

 

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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