COLORADO FORECLOSURE ACTIVITY DECREASES 14 PERCENT IN FIRST QUARTER

State Activity Down 34 Percent From Q1 2008

Monthly Activity Up 32 percent in March, Drops 10 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 12,605 Colorado properties in the first quarter of 2009, a 14 percent decrease from the previous quarter and 34 percent below the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Centennial State reported 5,580 properties with foreclosure filings in March, a 32 percent increase from the previous month but down 10 percent from its March 2008 total.

 

“Foreclosure activity in Colorado was down for the first quarter of the year and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s unemployment rate has been on the rise during the past year, it is still below the national average. This is a significant factor in containing foreclosures here from skyrocketing higher as they are in many other states right now.”

 

Colorado documented the 11th highest raw number of properties receiving foreclosure filings in the first quarter. One in every 169 housing units received a foreclosure filing during the quarter — the 12th highest state foreclosure rate in the country during the quarter.

 

Five counties largest contributors to state total for the quarter

Five Colorado counties accounted for 63 percent of the state’s overall foreclosure activity during the first quarter. Adams County had the highest total for the quarter, reporting 1,801 properties with foreclosure filings. El Paso County came in second highest, reporting 1,768 properties with foreclosure filings for the quarter. Arapahoe County was close behind in third, reporting 1,695 properties with foreclosure filings. Denver County registered the fourth highest total, documenting 1,658 properties with foreclosure filings. Fifth highest total was tallied in Jefferson County, where 1,081 properties with foreclosure filings were reported.

 

Gilpin County posts highest foreclosure rate in the state for first quarter

With one in every 73 housing units receiving a foreclosure filing — 2.3 times the state average and 2.2 times the national average — Gilpin County posted the state’s highest county foreclosure rate in Q1 2009. Weld County was second highest, with a rate of one in every 86 housing units receiving a foreclosure filing — twice the state average and 1.9 times the national average. Third highest rate was documented in Adams County, where one in every 90 housing units received a foreclosure filing during the quarter — 1.9 times the state average and 1.8 times the national average.

 

State a significant contributor to nation’s foreclosure total for Q1 2009

Colorado accounted for 2 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter  — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice 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 filed against a property during the quarter — which is extremely rare — only the most recent filing is counted in the report.

 

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

 

                          Colorado Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16%

23.63%

Colorado

7

0

9,186

0

3,412

12,605

169

-13.84%

-33.64%

 

 

 

 

 

 

 

 

 

 

Adams

2

0

1,215

0

584

1,801

90

-17.27%

-38.26%

Alamosa

0

0

12

0

0

12

539

-25.00%

-36.84%

Arapahoe

1

0

1,191

0

503

1,695

135

-27.56%

-46.92%

Archuleta

0

0

35

0

3

38

218

40.74%

90.00%

Baca

0

0

0

0

0

0

Bent

0

0

0

0

0

0

Boulder

1

0

277

0

78

356

347

-4.04%

-20.18%

Broomfield

0

0

69

0

29

98

206

-20.33%

-10.09%

Chaffee

0

0

7

0

1

8

1,219

-20.00%

-46.67%

Cheyenne

0

0

0

0

0

0

Clear Creek

0

0

11

0

1

12

454

-29.41%

-63.64%

Conejos

0

0

6

0

0

6

715

-14.29%

Costilla

0

0

2

0

1

3

768

200.00%

200.00%

Crowley

0

0

0

0

0

0

-100.00%

Custer

0

0

1

0

0

1

3,844

Delta

0

0

33

0

6

39

339

-20.41%

-11.36%

Denver

0

0

1,242

0

416

1,658

165

-25.88%

-61.70%

Dolores

0

0

1

0

0

1

1,285

0.00%

-66.67%

Douglas

0

0

589

0

152

741

134

-9.30%

-24.54%

Eagle

0

0

47

0

6

53

503

15.22%

103.85%

El Paso

1

0

1,258

0

509

1,768

138

-9.61%

7.28%

Elbert

0

0

60

0

10

70

126

32.08%

-23.91%

Fremont

0

0

57

0

3

60

319

-6.25%

1900.00%

Garfield

0

0

32

0

9

41

520

70.83%

78.26%

Gilpin

0

0

27

0

20

47

73

4600.00%

213.33%

Grand

0

0

32

0

1

33

445

0.00%

94.12%

Gunnison

0

0

32

0

0

32

337

18.52%

128.57%

Hinsdale

0

0

0

0

0

0

Huerfano

0

0

1

0

0

1

5,027

-50.00%

Jackson

0

0

0

0

0

0

Jefferson

1

0

789

0

291

1,081

211

-20.28%

-36.19%

Kiowa

0

0

0

0

0

0

Kit Carson

0

0

0

0

0

0

-100.00%

-100.00%

La Plata

0

0

51

0

4

55

460

-12.70%

111.54%

Lake

0

0

0

0

3

3

1,443

200.00%

Larimer

0

0

479

0

142

621

205

4.37%

-3.27%

Las Animas

0

0

17

0

1

18

447

-10.00%

-10.00%

Lincoln

0

0

2

0

0

2

1,226

-60.00%

-92.00%

Logan

0

0

10

0

0

10

875

-56.52%

-64.29%

Mesa

0

0

154

0

29

183

321

36.57%

39.69%

Mineral

0

0

0

0

0

0

Moffat

0

0

15

0

0

15

402

114.29%

Montezuma

0

0

16

0

1

17

654

-22.73%

21.43%

Montrose

0

0

39

0

5

44

391

2.33%

2.33%

Morgan

0

0

39

0

22

61

183

64.86%

17.31%

Otero

0

0

26

0

3

29

307

70.59%

-9.38%

Ouray

0

0

16

0

0

16

172

128.57%

128.57%

Park

0

0

40

0

7

47

279

-77.29%

1075.00%

Phillips

0

0

0

0

0

0

-100.00%

Pitkin

0

0

7

0

0

7

1,607

40.00%

-46.15%

Prowers

0

0

4

0

1

5

1,216

-58.33%

-54.55%

Pueblo

0

0

357

0

144

501

134

0.80%

-26.65%

Rio Blanco

0

0

0

0

0

0

-100.00%

-100.00%

Rio Grande

0

0

11

0

14

25

266

316.67%

-44.44%

Routt

0

0

41

0

5

46

309

206.67%

475.00%

Saguache

0

0

1

0

0

1

3,756

0.00%

San Juan

0

0

1

0

1

2

362

100.00%

San Miguel

0

0

8

0

0

8

770

60.00%

Sedgwick

0

0

0

0

0

0

Summit

0

0

37

0

3

40

706

8.11%

17.65%

Teller

0

0

68

0

40

108

112

68.75%

-0.92%

Washington

0

0

0

0

8

8

296

Weld

1

0

721

0

356

1,078

86

2.57%

-23.76%

Yuma

0

0

0

0

0

0

-100.00%

-100.00%

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

   

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