Colorado Foreclosure Activity Falls in October

Statewide filings down 19 percent from September

 

Colorado reported 5,047 properties with foreclosure filings in October, down 19 percent from the previous month and 6 percent below the level reported in October 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity declined significantly in Colorado in October to a level below that reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment has been on the decline the past few months, a significant factor in reducing the number of properties entering the foreclosure process.”

 

Colorado ranked 15th nationally for total foreclosure activity in October. One in every 421 Colorado housing units received a foreclosure filing during the month, the 11th highest foreclosure rate in the nation.

 

Douglas County posts state’s top foreclosure rate in October

With one in every 236 housing units receiving a foreclosure filing — 1.6 times the national average and 1.8 times the state average — Douglas County posted the highest county foreclosure rate in the state for October. Weld County ranked second, reporting one in every 242 housing units receiving a foreclosure filing — 1.6 times the national average and 1.7 times the state average. Adams County had the third highest rate, with one in every 251 housing units receiving a foreclosure filing — 1.5 times the national average and 1.7 times the state average. Fourth highest foreclosure rate was in Teller County, where one in every 335 housing units received a foreclosure filing during the month — 1.2 times the national average and 1.3 times the state average. Arapahoe County had the fifth highest total, reporting one in every 383 housing units receiving a foreclosure filing — on par with the national average and 1.1 times the state average.

 

Adams County tops state in foreclosure total for October

Adams County led all counties, totaling 647 properties with foreclosure filings for October. El Paso County was second highest, documenting 635 properties with foreclosure filings. Reporting 597 properties with foreclosure filings for the month, Arapahoe County was third highest. Denver County came in fourth, reporting 578 properties with foreclosure filings, while the fifth highest total was in Jefferson County, where 560 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in October

Colorado accounted for 2 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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 Top Foreclosure Rates By County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Colorado

10

0

3,776

0

1,261

5,047

421

0.91

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

1

0

301

0

118

420

236

1.63

1.78

Weld

1

0

268

0

114

383

242

1.59

1.74

Adams

0

0

460

0

187

647

251

1.54

1.68

Teller

0

0

27

0

9

36

335

1.15

1.26

Arapahoe

0

0

507

0

90

597

383

1.01

1.10

 

 

Colorado Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Colorado

10

0

3,776

0

1,261

5,047

421

-18.75

-6.08

 

 

 

 

 

 

 

 

 

 

Adams

0

0

460

0

187

647

251

-40.15

-3.86

El Paso

3

0

461

0

171

635

384

6.19

-18.49

Arapahoe

0

0

507

0

90

597

383

-36.96

-19.54

Denver

3

0

404

0

171

578

474

-20.93

-44.10

Jefferson

1

0

387

0

172

560

407

5.66

13.82

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