COLORADO FORECLOSURE ACTIVITY DOWN 1 PERCENT IN FEBRUARY

Activity Up 27 Percent From February 2007; Foreclosure Rate Ranked No. 5

 

IRVINE, Calif. – March 26, 2008 – Colorado reported 6,737 properties with foreclosure filings for February, the ninth highest foreclosure total in the country. The total represented a 1 percent decrease from the previous month, but is still 27 percent above the level reported for February 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 305 Colorado households received a foreclosure filing during the month, the fifth highest foreclosure rate among the states and 1.8 times the national average.

 

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.

 

“Although foreclosure filings in Colorado slowed slightly in February, we are still seeing double-digit growth on a year-over-year basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “Colorado’s housing market is still struggling, so we expect to see an increase in foreclosure activity in the months ahead.”

 

Foreclosure activity in the Centennial State is still well behind national leader California, which documented 53,629 properties with foreclosure filings in February. Florida is also way ahead in second place, reporting 32,447 properties with foreclosure filings, while third place Texas had 12,261 properties with foreclosure filings for the month. Michigan reported 10,957 properties with foreclosure filings for the fourth highest total, followed closely by Ohio reporting 10,386 properties with foreclosure filings, the nation’s fifth highest total. The remaining states in the nation’s top 10 for total foreclosure filings in February were Arizona, Illinois, Georgia and Nevada.

 

Top five counties lead state in foreclosure activity in February

Foreclosure activity in five Colorado counties accounted for 75 percent of all the state’s foreclosure filings in February. Denver County continued to lead the state by a large margin in foreclosure activity in February, reporting 1,395 properties with foreclosure filings. Second place Arapahoe County documented 1,308 properties with foreclosure filings, while third place Adams County reported 1,164 properties with foreclosure filings for the month. El Paso County posted the state’s fourth highest total, reporting 636 properties with foreclosure filings. Jefferson County registered the fifth highest total, reporting 534 properties with foreclosure filings.

 

Adams County posts highest foreclosure rate

Adams County led the state with a rate of one in every 133 households receiving a foreclosure filing — 2.3 times the state average and 4.2 times the national average. Arapahoe County posted the state’s second highest rate, with one in every 171 households receiving a foreclosure filing — 1.8 times the state average and 3.3 times the national average. The third highest rate was documented in Denver County, where one in every 193 households received a foreclosure filing — 1.6 times the state average and 2.9 times the national average.

 

State a major contributor to nation’s total in February

Total filings in Colorado accounted for 3 percent of the 223,651 properties with foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, but is still 60 percent ahead of the total reported for February 2007. One in every 557 U.S. households received a foreclosure filing during the

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. 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 – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Colorado

100

3,993

0

0

2,644

6,737

305

1.83

n/a

 

 

 

 

 

 

 

 

 

 

Adams

6

621

0

0

537

1,164

133

4.20

2.30

Alamosa

0

2

0

0

2

4

1,598

0.35

0.19

Arapahoe

11

800

0

0

497

1,308

171

3.26

1.79

Archuleta

0

7

0

0

2

9

864

0.64

0.35

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

4

96

0

0

40

140

868

0.64

0.35

Broomfield

0

23

0

0

12

35

528

1.05

0.58

Chaffee

0

3

0

0

3

6

1,584

0.35

0.19

Cheyenne

0

0

0

0

0

0

 n/a

0.00

0.00

Clear Creek

0

8

0

0

6

14

386

1.44

0.79

Conejos

0

0

0

0

0

0

 n/a

0.00

0.00

Costilla

0

0

0

0

1

1

2,281

0.24

0.13

Crowley

0

0

0

0

0

0

 n/a

0.00

0.00

Custer

0

0

0

0

0

0

 n/a

0.00

0.00

Delta

3

12

0

0

9

24

544

1.02

0.56

Denver

19

655

0

0

721

1,395

193

2.89

1.58

Dolores

0

1

0

0

0

1

1,288

0.43

0.24

Douglas

7

174

0

0

85

266

338

1.65

0.90

Eagle

1

8

0

0

3

12

2,116

0.26

0.14

El Paso

14

442

0

0

180

636

367

1.52

0.83

Elbert

1

26

0

0

8

35

239

2.33

1.28

Fremont

2

0

0

0

0

2

9,393

0.06

0.03

Garfield

0

7

0

0

1

8

2,515

0.22

0.12

Gilpin

1

5

0

0

2

8

409

1.36

0.75

Grand

0

5

0

0

2

7

1,903

0.29

0.16

Gunnison

0

4

0

0

4

8

1,288

0.43

0.24

Hinsdale

0

0

0

0

0

0

 n/a

0.00

0.00

Huerfano

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

10

386

0

0

138

534

420

1.33

0.73

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

7

0

0

2

9

2,652

0.21

0.11

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Larimer

3

191

0

0

66

260

471

1.18

0.65

Las Animas

0

7

0

0

3

10

801

0.70

0.38

Lincoln

1

6

0

0

0

7

351

1.59

0.87

Logan

0

4

0

0

5

9

968

0.58

0.31

Mesa

0

31

0

0

17

48

1,165

0.48

0.26

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Moffat

1

0

0

0

0

1

5,950

0.09

0.05

Montezuma

0

4

0

0

0

4

2,776

0.20

0.11

Montrose

0

19

0

0

1

20

810

0.69

0.38

Morgan

0

12

0

0

4

16

690

0.81

0.44

Otero

0

8

0

0

6

14

638

0.87

0.48

Ouray

0

1

0

0

1

2

1,303

0.43

0.23

Park

0

0

0

0

0

0

 n/a

0.00

0.00

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Pitkin

2

7

0

0

1

10

1,091

0.51

0.28

Prowers

0

0

0

0

0

0

 n/a

0.00

0.00

Pueblo

3

138

0

0

75

216

301

1.85

1.01

Rio Blanco

1

0

0

0

0

1

2,979

0.19

0.10

Rio Grande

0

3

0

0

9

12

546

1.02

0.56

Routt

2

2

0

0

0

4

3,350

0.17

0.09

Saguache

0

0

0

0

0

0

 n/a

0.00

0.00

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

13

0

0

2

15

1,830

0.30

0.17

Teller

3

9

0

0

2

14

838

0.66

0.36

Washington

0

0

0

0

1

1

2,369

0.24

0.13

Weld

5

246

0

0

196

447

194

2.87

1.57

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 homes, 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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