COLORADO FORECLOSURE ACTIVITY DECLINES 7 PERCENT IN APRIL

Activity Up 57 Percent From a Year Earlier; Foreclosure Rate No. 2 In Nation

 

IRVINE, Calif. – May 18, 2007 – Colorado reported 5,826 foreclosure filings in April, a 7 percent decline in activity from the previous month, but still 57 percent ahead of the level reported for the same month last year, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state posted the second highest foreclosure rate in the country for the month — one foreclosure filing for every 314 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.

 

“This is the first monthly decline in foreclosure activity Colorado has experienced this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is at the lowest point seen in years, but excessive borrowing from subprime lenders continues to plague the state, leaving many homeowners stranded as they attempt to sell homes that are worth less than they currently owe on their mortgages.”

 

The Centennial State’s foreclosure total for the month was far lower than national leader California, where more than 30,500 foreclosure filings were reported. Second place Florida reported more than 14,000 filings — nearly 2.5 times Colorado’s total. Third place Ohio and fourth place Texas both reported totals that were more than twice Colorado’s total. Illinois, Georgia and Michigan all reported higher foreclosure totals than Colorado for the month, while Connecticut and Arizona rounded out the rest of the nation’s top 10 with lower foreclosure totals. The state’s foreclosure rate for the month was 2.5 times the national average.

 

Arapahoe County leads the state in foreclosure total

Arapahoe County led all Colorado counties, reporting 1,246 foreclosure filings for April. Adams County had the second highest total for the month, reporting 938 foreclosure filings. The third highest total was reported by Jefferson County, with 648 filings. El Paso County tallied the fourth highest total with 600 foreclosure filings for the month. Denver County tallied the fifth highest total with 551 filings in the foreclosure pipeline. Altogether the top five counties accounted for 68 percent of all filings in the state for the month.

 

Adams County posts highest foreclosure rate in the state

Adams County led the state in foreclosure rate for the month with one foreclosure filing for every 141 households — 2.2 times the state average and 5.5 times the national average. Arapahoe County reported the second highest rate — one foreclosure filing for every 158 households — twice the state average and five times the national average. The third highest rate was reported in Weld County, one filing for every 165 households — 1.9 times the state average and 4.7 times the national average. Pueblo County had the fourth highest rate, one filing for every 185 households, followed by Douglas County with one filing for every 192 households.

 

State makes significant contribution to national total

Total foreclosure filings in Colorado accounted for 4 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate was one foreclosure filing for every 783 U.S. households during 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Colorado

37

4,787

0

0

1,002

5,826

314

2.49

n/a

 

 

 

 

 

 

 

 

 

 

Adams

7

812

0

0

119

938

141

5.54

2.22

Alamosa

0

1

0

0

1

2

3,044

0.26

0.10

Arapahoe

4

862

0

0

380

1,246

158

4.96

1.99

Archuleta

0

1

0

0

1

2

3,106

0.25

0.10

Boulder

0

124

0

0

30

154

779

1.01

0.40

Broomfield

1

28

0

0

11

40

358

2.19

0.88

Chaffee

0

1

0

0

0

1

8,392

0.09

0.04

Clear Creek

0

1

0

0

0

1

5,128

0.15

0.06

Delta

1

9

0

0

1

11

1,125

0.70

0.28

Denver

11

493

0

0

47

551

456

1.72

0.69

Dolores

0

1

0

0

0

1

1,193

0.66

0.26

Douglas

3

316

0

0

11

330

192

4.08

1.64

Eagle

0

1

0

0

0

1

22,111

0.04

0.01

El Paso

3

534

0

0

63

600

337

2.32

0.93

Elbert

0

20

0

0

11

31

229

3.41

1.37

Fremont

0

20

0

0

3

23

745

1.05

0.42

Garfield

0

12

0

0

18

30

578

1.35

0.54

Grand

0

1

0

0

0

1

10,894

0.07

0.03

Huerfano

0

2

0

0

0

2

2,300

0.34

0.14

Jefferson

2

465

0

0

181

648

328

2.39

0.96

La Plata

0

15

0

0

3

18

1,154

0.68

0.27

Lake

0

1

0

0

0

1

3,913

0.20

0.08

Larimer

1

268

0

0

32

301

350

2.24

0.90

Las Animas

0

7

0

0

5

12

636

1.23

0.49

Logan

0

1

0

0

1

2

4,212

0.19

0.07

Mesa

0

39

0

0

1

40

1,211

0.65

0.26

Moffat

0

2

0

0

0

2

2,818

0.28

0.11

Montezuma

0

5

0

0

2

7

1,500

0.52

0.21

Montrose

0

21

0

0

4

25

568

1.38

0.55

Morgan

0

11

0

0

4

15

694

1.13

0.45

Otero

0

8

0

0

3

11

801

0.98

0.39

Park

0

8

0

0

3

11

972

0.81

0.32

Phillips

0

1

0

0

0

1

2,014

0.39

0.16

Pitkin

0

3

0

0

0

3

3,365

0.23

0.09

Prowers

0

3

0

0

4

7

854

0.92

0.37

Pueblo

3

294

0

0

21

318

185

4.22

1.70

Rio Blanco

0

1

0

0

0

1

6,003

0.13

0.05

Rio Grande

0

0

0

0

1

1

2,855

0.27

0.11

Routt

1

4

0

0

0

5

2,243

0.35

0.14

Summit

0

3

0

0

0

3

8,067

0.10

0.04

Teller

0

25

0

0

3

28

370

2.12

0.85

Washington

0

0

0

0

0

0

n/a

n/a

n/a 

Weld

0

363

0

0

38

401

165

4.74

1.90

 

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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