COLORADO FORECLOSURE ACTIVITY DECREASES 4 PERCENT IN SEPTEMBER

Activity Up 40 Percent From a Year Ago; Rate in Nation’s Top 10

 

IRVINE, Calif. – Oct. 26, 2007 – Colorado reported 6,290 foreclosure filings in September, the ninth highest total in the nation. Foreclosure activity decreased 4 percent from the previous month, but was still up 40 percent from September 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 326 households — 1.7 times the national average — ranked it eighth among the 50 states.

 

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 fell slightly in September after hitting its peak so far this year in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “As the adjustable rates on subprime loans continue to reset in the near future we are very likely going to see more foreclosure filings in Colorado.”

 

Five counties account for majority of state’s foreclosure activity

The combined foreclosure filings of five counties accounted for 73 percent of all foreclosures in Colorado in September. Arapahoe County documented the highest county foreclosure total in the state, reporting 1,406 foreclosure filings for the month. Denver County came in second, reporting 1,002 foreclosure filings. Adams County reported the state’s third highest total with 958 foreclosure filings. Jefferson County had fourth highest total in the state with 784 foreclosure filings. Fifth highest total was reported in El Paso County with 460 foreclosure filings.

 

Arapahoe County posts top foreclosure rate in the state

Arapahoe County tallied the highest foreclosure rate in Colorado for September, one foreclosure filing for every 159 households — 2.1 times the state average and 3.5 times the national average. Adams County registered the second rate in the state, one foreclosure filing for every 161 households — twice the state average and 3.5 times the national average. Weld County came in third, with a rate of one foreclosure filing for every 220 households — 1.5 times the state average and 2.5 times national average. Fourth highest rate was posted by Otero County with one foreclosure filing for every 223 households — 1.5 times the state average and 2.5 times national average.

 

State makes significant contribution to national total

Total foreclosure filings in Colorado accounted for 3 percent of the 223,538 foreclosure filings reported nationwide in September. The national total represents an 8 percent decrease from the previous month, but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 557 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 – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Colorado

67

5,472

0

0

751

6,290

326

1.71

n/a

 

 

 

 

 

 

 

 

 

 

Adams

14

915

0

0

29

958

161

3.46

2.02

Alamosa

0

2

0

0

2

4

1,598

0.35

0.20

Arapahoe

4

1,012

0

0

390

1,406

159

3.51

2.06

Archuleta

0

6

0

0

0

6

1,296

0.43

0.25

Baca

0

0

0

0

0

0

n/a 

0.00

0.00

Bent

0

0

0

0

0

0

n/a 

0.00

0.00

Boulder

2

165

0

0

37

204

596

0.94

0.55

Broomfield

2

34

0

0

4

40

462

1.21

0.71

Chaffee

0

3

0

0

0

3

3,167

0.18

0.10

Cheyenne

0

0

0

0

0

0

n/a 

0.00

0.00

Clear Creek

0

12

0

0

2

14

386

1.44

0.85

Conejos

0

0

0

0

0

0

n/a 

0.00

0.00

Costilla

0

0

0

0

10

10

228

2.44

1.43

Crowley

0

1

0

0

0

1

1,586

0.35

0.21

Custer

0

0

0

0

0

0

n/a 

0.00

0.00

Delta

1

23

0

0

0

24

544

1.02

0.60

Denver

11

972

0

0

19

1,002

268

2.08

1.22

Dolores

0

3

0

0

0

3

429

1.30

0.76

Douglas

5

265

0

0

2

272

331

1.68

0.99

Eagle

0

4

0

0

0

4

6,349

0.09

0.05

El Paso

12

440

0

0

8

460

507

1.10

0.64

Elbert

0

14

0

0

4

18

464

1.20

0.70

Fremont

0

22

0

0

7

29

648

0.86

0.50

Garfield

0

8

0

0

0

8

2,515

0.22

0.13

Gilpin

0

4

0

0

0

4

817

0.68

0.40

Grand

0

0

0

0

0

0

n/a 

0.00

0.00

Gunnison

0

1

0

0

0

1

10,301

0.05

0.03

Hinsdale

0

0

0

0

0

0

n/a 

0.00

0.00

Huerfano

0

1

0

0

0

1

4,975

0.11

0.07

Jackson

0

0

0

0

0

0

n/a 

0.00

0.00

Jefferson

5

604

0

0

175

784

286

1.95

1.14

Kiowa

0

0

0

0

0

0

n/a 

0.00

0.00

Kit Carson

0

0

0

0

0

0

n/a 

0.00

0.00

La Plata

0

14

0

0

0

14

1,705

0.33

0.19

Lake

0

0

0

0

0

0

n/a 

0.00

0.00

Larimer

4

155

0

0

5

164

747

0.75

0.44

Las Animas

0

6

0

0

3

9

890

0.63

0.37

Lincoln

0

1

0

0

1

2

1,228

0.45

0.27

Logan

0

12

0

0

3

15

581

0.96

0.56

Mesa

0

57

0

0

4

61

917

0.61

0.36

Mineral

0

0

0

0

0

0

n/a 

0.00

0.00

Moffat

0

4

0

0

0

4

1,488

0.37

0.22

Montezuma

0

9

0

0

0

9

1,234

0.45

0.26

Montrose

0

4

0

0

1

5

3,240

0.17

0.10

Morgan

0

10

0

0

0

10

1,104

0.50

0.30

Otero

1

20

0

0

19

40

223

2.50

1.46

Ouray

0

0

0

0

0

0

n/a 

0.00

0.00

Park

0

2

0

0

0

2

6,272

0.09

0.05

Phillips

0

0

0

0

0

0

n/a 

0.00

0.00

Pitkin

0

0

0

0

0

0

n/a 

0.00

0.00

Prowers

0

2

0

0

4

6

1,020

0.55

0.32

Pueblo

1

254

0

0

9

264

246

2.26

1.33

Rio Blanco

0

0

0

0

0

0

n/a 

0.00

0.00

Rio Grande

0

12

0

0

2

14

468

1.19

0.70

Routt

0

1

0

0

0

1

13,398

0.04

0.02

Saguache

0

0

0

0

1

1

3,634

0.15

0.09

San Juan

0

0

0

0

0

0

n/a 

0.00

0.00

San Miguel

0

0

0

0

0

0

n/a 

0.00

0.00

Sedgwick

0

0

0

0

0

0

n/a 

0.00

0.00

Summit

0

1

0

0

0

1

27,456

0.02

0.01

Teller

0

15

0

0

3

18

652

0.85

0.50

Washington

0

0

0

0

0

0

n/a 

0.00

0.00

Weld

5

382

0

0

7

394

220

2.53

1.48

Yuma

0

0

0

0

0

0

n/a 

0.00

0.00

 

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

 

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