COLORADO FORECLOSURE ACTIVITY DOWN 19 PERCENT IN JANUARY

Filings Statewide Decrease 37 Percent From January 2008

 

IRVINE, Calif. – Feb. 27, 2009 – Foreclosure filings were reported on 4,323 Colorado properties in January, down 19 percent from the previous month and 37 percent below the level reported for January 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

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.

 

Colorado foreclosures are down both in January and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment levels are still lower than the national average, and home values have not declined as much as in many other states during the past year. These factors are contributing to the overall decline in foreclosures.”

 

Colorado ranked 14th in the country in total foreclosures for the month. With one in every 492 housing units receiving a foreclosure filing, its foreclosure rate ranked 11th among the 50 states.

 

Five counties account for bulk of state activity in January

Five Colorado counties accounted for 64 percent of all foreclosure activity in the state during January. Adams County led the pack, reporting 680 properties with foreclosure filings for the month. Denver County was second highest, reporting 621 properties with foreclosure filings. Arapahoe County came in third, reporting 551 properties with foreclosure filings. El Paso County placed fourth, documenting 509 properties with foreclosure filings. Fifth highest total was in Weld County, where 401 properties with foreclosure filings were reported.

 

Weld County posts state’s highest foreclosure rate for January

With one in every 231 housing units receiving a foreclosure filing — 2.1 times the state average and twice the national average — Weld County reported the highest foreclosure rate in the state for January. Adams County posted the state’s second highest rate, with one in every 238 housing units receiving a foreclosure filing — 2.1 times the state average and twice the national average. Third highest rate was documented in Elbert County, where one in every 285 housing units received a foreclosure filing during the month — 1.7 times the state average and 1.6 times the national average.

 

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

Colorado accounted for 2 percent of the 274,399 properties with foreclosure filings reported nationwide in January. The national total represented a decrease of more than 9 percent from the previous month but was still nearly 18 percent ahead of the total reported for January 2008. One in every 466 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 – January 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,681

52,435

80,986

27,520

66,777

274,399

466

n/a

n/a

Colorado

1

0

3,080

0

1,242

4,323

492

0.95

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

444

0

236

680

238

1.96

2.06

Alamosa

0

0

5

0

0

5

1,293

0.36

0.38

Arapahoe

1

0

391

0

159

551

415

1.12

1.19

Archuleta

0

0

6

0

0

6

1,384

0.34

0.36

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

0

0

84

0

18

102

1,211

0.38

0.41

Broomfield

0

0

31

0

12

43

469

0.99

1.05

Chaffee

0

0

1

0

1

2

4,874

0.10

0.10

Cheyenne

0

0

0

0

0

0

 n/a

0.00

0.00

Clear Creek

0

0

7

0

1

8

681

0.68

0.72

Conejos

0

0

5

0

0

5

858

0.54

0.57

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

9

0

2

11

1,201

0.39

0.41

Denver

0

0

434

0

187

621

442

1.06

1.11

Dolores

0

0

1

0

0

1

1,285

0.36

0.38

Douglas

0

0

243

0

54

297

334

1.39

1.47

Eagle

0

0

12

0

1

13

2,051

0.23

0.24

El Paso

0

0

345

0

164

509

479

0.97

1.03

Elbert

0

0

25

0

6

31

285

1.64

1.73

Fremont

0

0

16

0

1

17

1,127

0.41

0.44

Garfield

0

0

9

0

3

12

1,777

0.26

0.28

Gilpin

0

0

0

0

0

0

 n/a

0.00

0.00

Grand

0

0

10

0

0

10

1,470

0.32

0.33

Gunnison

0

0

3

0

0

3

3,591

0.13

0.14

Hinsdale

0

0

0

0

0

0

 n/a

0.00

0.00

Huerfano

0

0

1

0

0

1

5,027

0.09

0.10

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

0

266

0

96

362

630

0.74

0.78

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

13

0

0

13

1,948

0.24

0.25

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Larimer

0

0

163

0

42

205

621

0.75

0.79

Las Animas

0

0

6

0

0

6

1,342

0.35

0.37

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Logan

0

0

2

0

0

2

4,374

0.11

0.11

Mesa

0

0

52

0

15

67

876

0.53

0.56

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Moffat

0

0

5

0

0

5

1,206

0.39

0.41

Montezuma

0

0

8

0

0

8

1,390

0.34

0.35

Montrose

0

0

11

0

1

12

1,435

0.32

0.34

Morgan

0

0

19

0

8

27

414

1.13

1.19

Otero

0

0

6

0

0

6

1,484

0.31

0.33

Ouray

0

0

2

0

0

2

1,375

0.34

0.36

Park

0

0

12

0

8

20

655

0.71

0.75

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Pitkin

0

0

4

0

0

4

2,812

0.17

0.17

Prowers

0

0

2

0

0

2

3,041

0.15

0.16

Pueblo

0

0

136

0

53

189

355

1.31

1.39

Rio Blanco

0

0

0

0

0

0

 n/a

0.00

0.00

Rio Grande

0

0

5

0

12

17

391

1.19

1.26

Routt

0

0

6

0

0

6

2,368

0.20

0.21

Saguache

0

0

0

0

0

0

 n/a

0.00

0.00

San Juan

0

0

1

0

0

1

723

0.64

0.68

San Miguel

0

0

3

0

0

3

2,053

0.23

0.24

Sedgwick

0

0

0

0

0

0

 n/a

0.00

0.00

Summit

0

0

9

0

1

10

2,823

0.17

0.17

Teller

0

0

20

0

7

27

446

1.04

1.10

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

Weld

0

0

247

0

154

401

231

2.02

2.13

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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