Colorado Foreclosure Activity Increases Slightly in 2009

Rate ranks #10 nationally; activity up 28 percent from 2007;

Statewide filings up 15 percent from November

 

Colorado ended 2009 tallying 50,514 properties with foreclosure filings, a slight increase from the total reported for 2008 and 28 percent higher than the level reported for all of 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  With one in every 42 housing units receiving a foreclosure filing, Colorado’s foreclosure rate ranked 10th highest in the nation for the year.

 

Colorado reported 6,009 properties with foreclosure filings in December, a 15 percent increase over the previous month, and up 13 percent from December 2008. The state’s foreclosure rate — one in every 354 housing units received a foreclosure filing — was the 13th highest in the nation for the month.

 

“Colorado’s foreclosure activity ticked up slightly in December, causing the state to round out our list of the top ten hardest hit states in terms of foreclosures for 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “With unemployment levels the highest experienced by the state since the 1980s, it comes as little surprise Colorado remained among the worst affected areas in the nation for much of the year.”

 

Weld County posted state’s highest foreclosure rate for 2009

With one in every 24 housing units receiving a foreclosure filing in 2009, Weld County posted the highest county foreclosure rate in the state for the year. In second place, Adams County also reported a rate of one in every 24 housing units receiving a foreclosure filing. Douglas County came in third highest, reporting one in every 32 housing units receiving a foreclosure filing. Arapahoe County was fourth highest with one in every 33 housing units receiving a foreclosure filing. Fifth highest rate was in Pueblo County, where one in every 38 housing units received a foreclosure filing during the year.

 

Arapahoe County led state in foreclosure activity for 2009

Arapahoe County tallied the highest foreclosure activity in the state for 2009, reporting 7,011 properties with foreclosure filings. Adams County came in second, documenting 6,783 properties with foreclosure filings. Reporting 6,368 properties with foreclosure filings for the year, Denver County had the third highest total in the state. El Paso County was fourth highest, reporting 6,172 properties with foreclosure filings, followed by Jefferson County in fifth place, tallying 4,671 properties with foreclosure filings for all of 2009.

 

State a modest contributor to nation’s foreclosure total in 2009

Colorado accounted for 2 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Colorado

50,514

2.37

42

0.23

28.20

 

 

 

 

 

 

Weld

3,934

4.25

24

6.53

43.16

Adams

6,783

4.18

24

-14.94

2.69

Douglas

3,144

3.17

32

23.58

67.23

Arapahoe

7,011

3.07

33

-14.07

-0.30

Pueblo

1,758

2.62

38

-3.57

5.84

 

 

Colorado Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Colorado

50,514

2.37

42

0.23

28.20

 

 

 

 

 

 

Arapahoe

7,011

3.07

33

-14.07

-0.30

Adams

6,783

4.18

24

-14.94

2.69

Denver

6,368

2.32

43

-27.80

1.08

El Paso

6,172

2.53

39

11.23

69.10

Jefferson

4,671

2.05

49

2.05

14.09

 

 

Colorado Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Colorado

33

0

3,836

0

2,140

6,009

354

1.03

n/a

 

 

 

 

 

 

 

 

 

 

Grand

1

0

15

0

114

130

113

3.24

3.13

Weld

0

0

349

0

122

471

197

1.86

1.80

Douglas

0

0

175

0

310

485

205

1.79

1.73

Adams

0

0

484

0

241

725

224

1.64

1.58

Arapahoe

3

0

596

0

261

860

266

1.38

1.33

 

 

Colorado Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Colorado

33

0

3,836

0

2,140

6,009

354

15.47

12.97

 

 

 

 

 

 

 

 

 

 

Arapahoe

3

0

596

0

261

860

266

14.67

14.21

Adams

0

0

484

0

241

725

224

13.99

-5.84

Denver

1

0

457

0

231

689

398

8.16

-8.50

El Paso

0

0

501

0

167

668

365

1.21

-3.47

Jefferson

6

0

351

0

184

541

421

7.55

-9.98

 

 

 

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