COLORADO FORECLOSURE ACTIVITY DOWN 1 PERCENT IN NOVEMBER

Foreclosure Activity Decreases 17 Percent From November 2007; Rate in Top 10

 

IRVINE, Calif. – Dec. 29, 2008 – Colorado reported 5,327 properties with foreclosure filings in November, a 1 percent decline from the previous month and down 17 percent from the level reported for November 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 393 Colorado housing units received a foreclosure filing during the month, giving it the eighth highest foreclosure rate in the nation.

 

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 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.

 

“The level of foreclosure activity in Colorado slowed down marginally in November and declined significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate was almost one percent below the national average in November, and its home values have not dropped as much as in many other states. Taken together these factors are contributing to this overall decline in foreclosure activity.”

 

Five counties dominate state’s foreclosure activity for November

Five Colorado counties accounted for 72 percent of all foreclosure activity in the state for November. Arapahoe County led the way, reporting 1,066 properties with foreclosure filings for the month. Adams County documented the state’s second highest total, reporting 933 properties with foreclosure filings. Third highest was Denver County, reporting 758 properties with foreclosure filings. El Paso County came in fourth, documenting 641 properties with foreclosure filings, followed by Jefferson County with 417 properties with foreclosure filings.

 

Park County posts top foreclosure rate for November

With one in every 80 housing units receiving a foreclosure filing for the month — 4.9 times the state average and 6.1 times the national average — Park County tallied the highest county foreclosure rate in the state for November. Adams County posted the state’s second highest rate, with one in every 171 housing units receiving a foreclosure filing during the month — 2.3 times the state average and 2.9 times the national average. The third highest rate in the state was reported in Arapahoe County, where one in every 213 housing units received a foreclosure filing in November — 1.9 times the state average and 2.3 times the national average.

 

State makes minor contribution to nation’s foreclosure total in November

Colorado accounted for 2 percent of the 259,085 properties with foreclosure filings reported nationwide in November. The national total represented a decrease of more than 7 percent from the previous month but was still 28 percent ahead of the total reported for November 2007. One in every 488 U.S. housing units received a foreclosure filing during the month.

 

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 month — 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 month — which is extremely rare — 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 Foreclosure Market Data by County – November 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

39,416

53,827

64,136

23,527

78,179

259,085

488

n/a

n/a

Colorado

48

0

3,144

0

2,135

5,327

393

1.24

n/a

 

 

 

 

 

 

 

 

 

Adams

4

0

595

0

334

933

171

2.86

2.31

Alamosa

0

0

5

0

0

5

1,287

0.38

0.31

Arapahoe

2

0

593

0

471

1,066

213

2.29

1.85

Archuleta

0

0

5

0

0

5

1,602

0.30

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

3

0

76

0

34

113

1,086

0.45

0.36

Broomfield

6

0

30

0

18

54

356

1.37

1.11

Chaffee

0

0

2

0

0

2

4,812

0.10

0.08

Cheyenne

0

0

0

0

0

0

 n/a

0.00

0.00

Clear Creek

1

0

5

0

0

6

905

0.54

0.43

Conejos

0

0

1

0

0

1

4,268

0.11

0.09

Costilla

0

0

0

0

0

0

 n/a

0.00

0.00

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

0

0

6

0

5

11

1,192

0.41

0.33

Denver

8

0

370

0

380

758

358

1.36

1.10

Dolores

0

0

0

0

0

0

 n/a

0.00

0.00

Douglas

6

0

166

0

77

249

383

1.27

1.03

Eagle

0

0

18

0

2

20

1,306

0.37

0.30

El Paso

3

0

402

0

236

641

374

1.30

1.05

Elbert

0

0

14

0

9

23

374

1.30

1.05

Fremont

0

0

24

0

1

25

760

0.64

0.52

Garfield

0

0

5

0

0

5

4,128

0.12

0.10

Gilpin

0

0

1

0

0

1

3,348

0.15

0.12

Grand

0

0

3

0

0

3

4,636

0.11

0.08

Gunnison

0

0

4

0

2

6

1,758

0.28

0.22

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

4

0

202

0

211

417

542

0.90

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

0

9

0

0

9

2,744

0.18

0.14

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Larimer

3

0

127

0

78

208

602

0.81

0.65

Las Animas

0

0

2

0

1

3

2,678

0.18

0.15

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Logan

0

0

0

0

0

0

 n/a

0.00

0.00

Mesa

0

0

41

0

14

55

1,041

0.47

0.38

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Moffat

0

0

0

0

0

0

 n/a

0.00

0.00

Montezuma

0

0

8

0

0

8

1,388

0.35

0.28

Montrose

0

0

6

0

3

9

1,860

0.26

0.21

Morgan

0

0

7

0

4

11

1,012

0.48

0.39

Otero

0

0

3

0

1

4

2,228

0.22

0.18

Ouray

0

0

5

0

0

5

538

0.91

0.73

Park

1

0

115

0

44

160

80

6.09

4.91

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Pitkin

0

0

0

0

1

1

11,047

0.04

0.04

Prowers

0

0

0

0

0

0

 n/a

0.00

0.00

Pueblo

1

0

103

0

54

158

418

1.17

0.94

Rio Blanco

0

0

3

0

0

3

1,006

0.48

0.39

Rio Grande

0

0

0

0

1

1

6,603

0.07

0.06

Routt

0

0

2

0

3

5

2,763

0.18

0.14

Saguache

0

0

0

0

1

1

3,698

0.13

0.11

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

0

11

0

0

11

2,536

0.19

0.16

Teller

1

0

17

0

2

20

595

0.82

0.66

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

Weld

5

0

158

0

148

311

290

1.68

1.35

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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