COLORADO FORECLOSURE ACTIVITY DOWN 2 PERCENT IN APRIL

Activity Level Down 9 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 5,495 Colorado properties in April, a 2 percent decline from the previous month and 9 percent below the level reported for April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 387 Colorado housing units received a foreclosure filing during the month, the ninth highest state 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.

 

“Foreclosure activity in Colorado appears to be slowing down on both a monthly and yearly basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s decline in foreclosures is an interesting factor considered that its unemployment rate is now the highest recorded in more than two decades.”

 

Colorado ranked 12th in the country in total properties with foreclosure filings for April.

 

Five counties account for bulk of state foreclosure activity in April

Five Colorado counties accounted for 67 percent of all foreclosure activity in the state for April. Adams County tallied the highest activity level, reporting 920 properties with foreclosure filings for the month. Arapahoe County reported 811 properties with foreclosure filings, the state’s second highest county total. Denver County came in third highest, reporting 790 properties with foreclosure filings. El Paso County came in fourth, documenting 671 properties with foreclosure filings, while the fifth highest total was in Jefferson County, where 500 properties with foreclosure filings were reported for the month.

 

Adams County posts state’s top foreclosure rate for April

With one in every 176 housing units receiving a foreclosure filing — 2.2 times the state average and 2.1 times the national average — Adams County posted the highest county foreclosure rate in the state for April. Weld County had the second highest rate, with one in every 252 housing units receiving a foreclosure filing — 1.5 times the state average and 1.5 times the national average. Third highest rate was documented in Arapahoe County, where one in every 282 housing units received a foreclosure filing during the month — 1.4 times the state average and 1.3 times the national average.

 

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

Colorado accounted for 2 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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 – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Colorado

31

0

4,213

0

1,251

5,495

387

-1.52

-9.29

 

 

 

 

 

 

 

 

 

 

Adams

22

0

699

0

199

920

176

13.44

-10.51

Alamosa

0

0

4

0

0

4

1,616

0.00

0.00

Arapahoe

0

0

599

0

212

811

282

8.13

-23.56

Archuleta

0

0

20

0

0

20

415

-4.76

400.00

Baca

0

0

0

0

0

0

 n/a

 n/a

 n/a

Bent

0

0

0

0

0

0

 n/a

 n/a

 n/a

Boulder

1

0

132

0

30

163

758

-18.50

3.82

Broomfield

0

0

42

0

6

48

420

41.18

45.45

Chaffee

0

0

5

0

1

6

1,625

200.00

50.00

Cheyenne

0

0

0

0

0

0

 n/a

 n/a

 n/a

Clear Creek

0

0

5

0

0

5

1,090

25.00

-70.59

Conejos

0

0

3

0

0

3

1,430

200.00

 n/a

Costilla

0

0

0

0

2

2

1,153

 n/a

100.00

Crowley

0

0

0

0

0

0

 n/a

 n/a

-100.00

Custer

0

0

0

0

4

4

961

 n/a

 n/a

Delta

0

0

12

0

3

15

881

-40.00

36.36

Denver

1

0

571

0

218

790

347

4.77

-23.15

Dolores

0

0

0

0

0

0

 n/a

 n/a

-100.00

Douglas

2

0

210

0

78

290

342

-4.92

10.27

Eagle

0

0

27

0

0

27

987

42.11

68.75

El Paso

1

0

503

0

167

671

363

-7.70

-13.20

Elbert

0

0

22

0

0

22

401

-8.33

-12.00

Fremont

0

0

17

0

1

18

1,064

-25.00

800.00

Garfield

0

0

33

0

6

39

547

50.00

550.00

Gilpin

0

0

2

0

0

2

1,714

-92.59

-60.00

Grand

0

0

8

0

0

8

1,837

-27.27

100.00

Gunnison

0

0

18

0

0

18

599

20.00

500.00

Hinsdale

0

0

0

0

0

0

 n/a

 n/a

 n/a

Huerfano

0

0

0

0

0

0

 n/a

 n/a

 n/a

Jackson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Jefferson

2

0

382

0

116

500

456

-6.54

-3.85

Kiowa

0

0

0

0

0

0

 n/a

 n/a

 n/a

Kit Carson

0

0

0

0

0

0

 n/a

 n/a

 n/a

La Plata

0

0

49

0

2

51

497

88.89

410.00

Lake

0

0

0

0

3

3

1,443

 n/a

 n/a

Larimer

0

0

142

0

57

199

640

-16.03

-17.08

Las Animas

0

0

6

0

0

6

1,342

-50.00

0.00

Lincoln

0

0

2

0

0

2

1,226

0.00

 n/a

Logan

0

0

10

0

0

10

875

400.00

-9.09

Mesa

0

0

84

0

12

96

611

21.52

220.00

Mineral

0

0

0

0

0

0

 n/a

 n/a

 n/a

Moffat

0

0

5

0

0

5

1,206

-37.50

400.00

Montezuma

0

0

12

0

2

14

794

180.00

75.00

Montrose

0

0

34

0

1

35

492

118.75

191.67

Morgan

0

0

14

0

5

19

588

0.00

5.56

Otero

0

0

8

0

0

8

1,113

-11.11

-63.64

Ouray

0

0

3

0

1

4

687

-50.00

300.00

Park

0

0

26

0

0

26

504

52.94

2,500.00

Phillips

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pitkin

0

0

4

0

0

4

2,812

100.00

300.00

Prowers

0

0

3

0

0

3

2,027

200.00

-40.00

Pueblo

1

0

154

0

41

196

342

-9.26

-20.65

Rio Blanco

0

0

3

0

0

3

1,020

 n/a

200.00

Rio Grande

0

0

1

0

3

4

1,660

 n/a

 n/a

Routt

1

0

9

0

2

12

1,184

-60.00

500.00

Saguache

0

0

0

0

0

0

 n/a

 n/a

 n/a

San Juan

0

0

1

0

0

1

723

 n/a

 n/a

San Miguel

0

0

3

0

0

3

2,053

200.00

 n/a

Sedgwick

0

0

0

0

0

0

 n/a

 n/a

 n/a

Summit

0

0

20

0

0

20

1,412

33.33

42.86

Teller

0

0

16

0

1

17

709

-69.64

-56.41

Washington

0

0

0

0

0

0

 n/a

-100.00

 n/a

Weld

0

0

290

0

78

368

252

-25.05

-12.80

Yuma

0

0

0

0

0

0

 n/a

 n/a

 n/a

 

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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