Colorado Foreclosure Activity Increases in July

Statewide filings up 8 percent from June

 

Foreclosure activity in Colorado increased 8 percent in July to 4,980 properties with foreclosure filings, 9 percent below the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Colorado foreclosures were up in July but down from a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed 71 percent for the month. Home sales throughout the state were less than half the national average during the past year. These factors have played a part in the recent rise in foreclosure activity.”

 

Colorado ranked 15th in the country in total foreclosures for the month. With one in every 432 housing units receiving a foreclosure filing, its foreclosure rate ranked 13th among the 50 states.

 

Weld County posts top county foreclosure rate in July

One in every 191 housing units in Weld County received a foreclosure filing in July, giving it the top county foreclosure rate in the state for the month. Arapahoe County posted the second highest rate, with one in every 296 housing units receiving a foreclosure filing during the month. Coming in third was Adams County, where one in every 303 housing units received a foreclosure filing in July.

 

Arapahoe County dominates state with top foreclosure total for July

Reporting 782 properties with foreclosure filings in July, Arapahoe County led the state in total foreclosure activity. Second highest El Paso County reported 624 properties with foreclosure filings. Denver County came in third highest, tallying 619 properties with foreclosure filings. Fourth highest was Adams County, where 542 properties with foreclosure filings were reported. Weld County was fifth, reporting 493 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Colorado accounted for 2 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Colorado

24

0

3,144

0

1,812

4,980

432

0.92

n/a

 

 

 

 

 

 

 

 

 

 

Weld

2

0

248

0

243

493

191

2.08

2.27

Arapahoe

6

0

491

0

285

782

296

1.34

1.46

Adams

3

0

341

0

198

542

303

1.31

1.43

Garfield

0

0

38

0

34

72

304

1.31

1.42

Broomfield

0

0

36

0

21

57

371

1.07

1.16

 

 

Colorado Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Colorado

24

0

3,144

0

1,812

4,980

432

8.47

-9.26

 

 

 

 

 

 

 

 

 

 

Arapahoe

6

0

491

0

285

782

296

44.81

3.85

El Paso

4

0

385

0

235

624

394

12.43

-14.17

Denver

3

0

388

0

228

619

448

19.73

-10.94

Adams

3

0

341

0

198

542

303

1.88

-26.66

Weld

2

0

248

0

243

493

191

57.01

10.04

 

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