Colorado Foreclosure Activity Declines in January

Statewide filings down 16 percent from December; Up 16 percent from a year ago

 

Foreclosure activity in Colorado decreased in January to 5,029 properties with foreclosure filings, a 16 percent decline from December 2009 but still 16 percent ahead of January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Colorado fell in January but was still up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in default notices, which fell 39 percent for the month. The state’s unemployment rate remains well below the national average, and its home sales picked up during the fourth quarter. If these trends continue, we may see foreclosures continue to decrease here in the near future.”

 

Colorado ranked 14th in the country in total foreclosures for the month. With one in every 428 housing units receiving a foreclosure filing, its foreclosure rate ranked 12th among the 50 states.

 

Weld County posts top foreclosure rate in the state for January

With one in every 220 housing units receiving a foreclosure filing — 1.8 times the national average and 1.9 times the state average — Weld County posted the state’s highest county foreclosure rate in January. Douglas County was second, with one in every 243 housing units receiving a foreclosure filing — 1.7 times the national average and 1.8 times the state average. Adams County came in third highest, with one in every 283 housing units receiving a foreclosure filing — 1.4 times the national average and 1.5 times the state average. Fourth highest rate was in Garfield County, where one in every 308 housing units — 1.3 times the national average and 1.4 times the state average — received a foreclosure filing during the month. The fifth highest total was reported in Ouray County, where one in every 312 housing units — 1.3 times the national average and 1.4 times the state average — received a foreclosure filing during the month.

 

Arapahoe County dominates state in total foreclosure filings for January

Arapahoe County led all counties, totaling 703 properties with foreclosure filings for the month. El Paso County was second highest, documenting 685 properties with foreclosure filings. Reporting 669 properties with foreclosure filings for the month, Denver County had the third highest total. Adams County came in fourth highest, reporting 580 properties with foreclosure filings, followed by Jefferson County where 428 properties with foreclosure filings were reported.

 

State a minor contributor to nation’s foreclosure total in January

Colorado accounted for 2 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: DefaultNotice of Default (NOD) and Lis Pendens (LIS); Auction — 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Colorado Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Colorado

20

0

3,227

0

1,782

5,029

428

0.96

n/a

 

 

 

 

 

 

 

 

 

 

Weld

0

0

225

0

202

427

220

1.84

1.94

Douglas

0

0

264

0

154

418

243

1.67

1.76

Adams

0

0

384

0

196

580

283

1.43

1.51

Garfield

0

0

65

0

6

71

308

1.32

1.39

Ouray

0

0

6

0

3

9

312

1.30

1.37

 

           

 

Colorado Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Dec 09

% Chg

Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Colorado

20

0

3,227

0

1,782

5,029

428

-16.31

16.33

 

 

 

 

 

 

 

 

 

 

Arapahoe

4

0

427

0

272

703

329

-18.26

27.59

El Paso

5

0

459

0

221

685

359

2.54

34.58

Denver

5

0

403

0

261

669

414

-2.90

7.73

Adams

0

0

384

0

196

580

283

-20.00

-14.71

Jefferson

0

0

264

0

164

428

535

-20.89

18.23

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved