COLORADO FORECLOSURE ACTIVITY DOWN 6 PERCENT IN SEPTEMBER

Foreclosure Activity Decreases 31 Percent From September 2007; Rate Ranks Top 10

 

IRVINE, Calif. – Monday, Oct. 27, 2008 – Colorado reported 4,345 properties with foreclosure filings in September, a 6 percent decrease from the previous month and down 31 percent from the level reported for September 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 482 Colorado households received a foreclosure filing, ranking 10th 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.

 

“Foreclosure activity in Colorado has declined both in September and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “A number of factors are contributing to the decrease we’re seeing in foreclosure filings throughout the state including an unemployment rate that is well below the national average, and home prices which have been appreciating during the past year.”

 

Colorado ranked 13th in the country in total foreclosures for the month.

 

Five counties dominate state’s foreclosure activity for September

Five Colorado counties accounted for 72 percent of all foreclosure activity in the state for September. Denver County led the way, reporting 886 properties with foreclosure filings for the month. Adams County documented the state’s second highest total, reporting 707 properties with foreclosure filings. Third highest was Arapahoe County, reporting 623 properties with foreclosure filings. El Paso County came in fourth place, documenting 496 properties with foreclosure filings, followed by Jefferson County with 399 properties with foreclosure filings.

 

Adams County posts top foreclosure rate for September

With one in every 225 households receiving a foreclosure filing for the month — 2.1 times the state average and 2.1 times the national average — Adams County tallied the highest county foreclosure rate in the state in September. Lincoln County posted the state’s second highest rate, with one in every 245 households receiving a foreclosure filing during the month — twice the state average and 1.9 times the national average. The third highest rate in the state was reported in Weld County, where one in every 302 households received a foreclosure filing in September — 1.6 times the state and national average.

 

State a minor contributor to nation’s foreclosure total in September

Colorado accounted for 2 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 U.S. households receiving 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 – September 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

Colorado

51

0

1,910

0

2,384

4,345

482

0.99

n/a

 

 

 

 

 

 

 

 

 

 

Adams

13

0

323

0

371

707

225

2.11

2.14

Alamosa

0

0

1

0

5

6

1,073

0.44

0.45

Arapahoe

11

0

282

0

330

623

364

1.30

1.32

Archuleta

0

0

3

0

8

11

728

0.65

0.66

Baca

0

0

0

0

0

0

 n/a

0.00

0.00

Bent

0

0

1

0

0

1

2,410

0.20

0.20

Boulder

1

0

35

0

59

95

1,292

0.37

0.37

Broomfield

0

0

23

0

13

36

533

0.89

0.90

Chaffee

0

0

3

0

0

3

3,208

0.15

0.15

Cheyenne

0

0

0

0

0

0

 n/a

0.00

0.00

Clear Creek

0

0

1

0

2

3

1,810

0.26

0.27

Conejos

0

0

2

0

1

3

1,423

0.33

0.34

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

3

0

1

4

3,279

0.14

0.15

Denver

4

0

303

0

579

886

306

1.55

1.58

Dolores

0

0

0

0

0

0

 n/a

0.00

0.00

Douglas

10

0

79

0

116

205

466

1.02

1.04

Eagle

0

0

6

0

1

7

3,730

0.13

0.13

El Paso

3

0

232

0

261

496

483

0.98

1.00

Elbert

0

0

2

0

10

12

717

0.66

0.67

Fremont

0

0

13

0

14

27

703

0.68

0.69

Garfield

0

0

4

0

4

8

2,580

0.18

0.19

Gilpin

0

0

0

0

0

0

 n/a

0.00

0.00

Grand

0

0

5

0

5

10

1,391

0.34

0.35

Gunnison

0

0

5

0

2

7

1,507

0.32

0.32

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

5

0

169

0

225

399

567

0.84

0.85

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

6

0

0

6

4,115

0.12

0.12

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Larimer

0

0

94

0

72

166

755

0.63

0.64

Las Animas

0

0

6

0

2

8

1,004

0.47

0.48

Lincoln

0

0

3

0

7

10

245

1.94

1.97

Logan

0

0

3

0

3

6

1,456

0.33

0.33

Mesa

0

0

41

0

10

51

1,123

0.42

0.43

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Moffat

0

0

3

0

0

3

2,001

0.24

0.24

Montezuma

0

0

3

0

2

5

2,221

0.21

0.22

Montrose

0

0

13

0

4

17

984

0.48

0.49

Morgan

1

0

9

0

9

19

586

0.81

0.82

Otero

0

0

5

0

10

15

594

0.80

0.81

Ouray

0

0

0

0

2

2

1,345

0.35

0.36

Park

0

0

0

0

0

0

 n/a

0.00

0.00

Phillips

0

0

0

0

1

1

2,059

0.23

0.23

Pitkin

0

0

1

0

2

3

3,682

0.13

0.13

Prowers

0

0

0

0

0

0

 n/a

0.00

0.00

Pueblo

1

0

57

0

76

134

493

0.96

0.98

Rio Blanco

0

0

1

0

0

1

3,019

0.16

0.16

Rio Grande

0

0

3

0

3

6

1,101

0.43

0.44

Routt

0

0

1

0

0

1

13,816

0.03

0.03

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

1

0

0

1

6,008

0.08

0.08

Sedgwick

0

0

0

0

0

0

 n/a

0.00

0.00

Summit

0

0

11

0

2

13

2,146

0.22

0.22

Teller

0

0

7

0

21

28

425

1.12

1.13

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

Weld

2

0

146

0

151

299

302

1.57

1.60

Yuma

0

0

1

0

0

1

4,392

0.11

0.11

 

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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