COLORADO FORECLOSURE ACTIVITY DOWN 3 PERCENT IN DECEMBER

Activity Up 29 Percent From December 2006; Foreclosure Rate Ranked No. 4

 

IRVINE, Calif. – Jan. 25, 2008 – Colorado reported 6,262 foreclosure filings in December, down 3 percent from the previous month, but still up 29 percent from December 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 328 households was 1.8 times the national average and ranked fourth highest nationwide.

 

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 seems to be moderating in Colorado as the level was slightly down in December and not significantly up from the level reported for the same month last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment, which has risen slightly, is still below the national average, although home prices are appreciating at a slower rate, and the number of bankruptcy filings has increased, all of which are contributing to the continuation of foreclosure activity in the state.

 

Foreclosure activity in the Centennial State was well below national leader California by more than 47,000 foreclosure filings in December. Second highest total was reported in Florida with almost 25,000 more filings than found in Colorado for the month. Third place Texas reported almost 6,000 more filings, while fourth place Ohio reported 5,800 more foreclosure filings in December. The remaining states in the nation’s top 10 for total foreclosure filings in December were Michigan, Nevada, Illinois, Georgia and Arizona.

 

Top five counties account for bulk of state’s activity in December

Foreclosure activity in five Colorado counties accounted for 70 percent of all the state’s filings in December. Arapahoe County led the way with 1,193 foreclosure filings for the month. Adams County came in a close second with 1,191 foreclosure filings. Jefferson County was third with 876 foreclosure filings for the month. Fourth highest foreclosure total was reported by El Paso County with 632 foreclosure filings, followed by fifth place Weld County with 467 filings in some stage of the foreclosure process.

 

Adams County posts highest foreclosure rate

Adams county led the state with the highest foreclosure rate for December, one foreclosure filing for every 130 households — 2.5 times the state average and 4.5 times the national average. Weld County posted the second highest foreclosure rate for the month — one foreclosure filing for every 186 households — 1.8 times the state average and 3.1 times the national average. The third highest foreclosure rate, one foreclosure filing for every 187 households — 1.8 times the state average and 3.1 times the national average — was posted by Arapahoe County.

 

State a major contributor to nation’s total in December

Total foreclosure filings in Colorado accounted for 3 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 577 U.S. households for the month.

 

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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Colorado

51

3,975

0

0

2,236

6,262

328

1.76

n/a

 

 

 

 

 

 

 

 

 

 

Adams

5

710

0

0

476

1,191

130

4.45

2.53

Alamosa

0

4

0

0

1

5

1,279

0.45

0.26

Arapahoe

11

712

0

0

470

1,193

187

3.09

1.75

Archuleta

0

5

0

0

2

7

1,111

0.52

0.30

Baca

4

0

0

0

0

4

614

0.94

0.53

Bent

0

0

0

0

0

0

n/a

0.00

0.00

Boulder

3

133

0

0

105

241

504

1.14

0.65

Broomfield

0

27

0

0

10

37

499

1.16

0.66

Chaffee

0

3

0

0

1

4

2,375

0.24

0.14

Cheyenne

0

0

0

0

0

0

 n/a

0.00

0.00

Clear Creek

0

8

0

0

2

10

541

1.07

0.61

Conejos

0

0

0

0

0

0

 n/a

0.00

0.00

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

6

0

0

2

8

1,633

0.35

0.20

Denver

9

345

0

0

110

464

579

1.00

0.57

Dolores

0

0

0

0

0

0

 n/a

0.00

0.00

Douglas

1

352

0

0

81

434

207

2.78

1.58

Eagle

0

2

0

0

2

4

6,349

0.09

0.05

El Paso

4

426

0

0

202

632

369

1.56

0.89

Elbert

1

20

0

0

16

37

226

2.56

1.45

Fremont

0

5

0

0

2

7

2,684

0.22

0.12

Garfield

0

1

0

0

0

1

20,116

0.03

0.02

Gilpin

0

3

0

0

4

7

467

1.24

0.70

Grand

0

1

0

0

1

2

6,660

0.09

0.05

Gunnison

0

2

0

0

1

3

3,434

0.17

0.10

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

3

460

0

0

413

876

256

2.25

1.28

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

4

0

0

2

6

3,978

0.15

0.08

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Larimer

5

160

0

0

76

241

508

1.14

0.64

Las Animas

0

1

0

0

1

2

4,003

0.14

0.08

Lincoln

0

0

0

0

1

1

2,455

0.24

0.13

Logan

0

5

0

0

8

13

670

0.86

0.49

Mesa

0

34

0

0

6

40

1,399

0.41

0.23

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Moffat

0

3

0

0

0

3

1,983

0.29

0.17

Montezuma

0

6

0

0

1

7

1,586

0.36

0.21

Montrose

0

17

0

0

3

20

810

0.71

0.40

Morgan

0

11

0

0

6

17

649

0.89

0.50

Otero

1

12

0

0

1

14

638

0.91

0.51

Ouray

0

1

0

0

0

1

2,606

0.22

0.13

Park

0

18

0

0

3

21

597

0.97

0.55

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Pitkin

0

1

0

0

0

1

10,914

0.05

0.03

Prowers

0

0

0

0

0

0

 n/a

0.00

0.00

Pueblo

0

139

0

0

81

220

296

1.95

1.11

Rio Blanco

0

1

0

0

0

1

2,979

0.19

0.11

Rio Grande

0

0

0

0

0

0

 n/a

0.00

0.00

Routt

1

4

0

0

0

5

2,680

0.22

0.12

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

6

0

0

3

9

3,051

0.19

0.11

Teller

0

4

0

0

2

6

1,956

0.30

0.17

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

Weld

3

323

0

0

141

467

186

3.11

1.77

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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