Colorado Foreclosure Activity Lower in Second Quarter

Activity level falls 5 percent from Q1; rate 10th highest in nation

Foreclosure filings decrease 9 percent mid-year; down 5 percent in June

 

Colorado reported 15,287 properties with foreclosure filings for the second quarter of 2010, a 5 percent drop from the first quarter, but still 5 percent above the level reported in the second quarter of 2009. One in every 141 Colorado housing units received a foreclosure filing during the quarter, giving the state the tenth highest foreclosure rate in the nation.

 

Activity level in Colorado fell during the first half of 2010 as well as for the month of June. For the first six months of the year, Colorado reported 30,177 properties with foreclosure filings, a 9 percent fall in activity from the second half of 2009, but still 14 percent above the level reported mid-year 2009. In June the state tallied 4,591 properties with foreclosure filings, a decrease of 5 percent from the previous month and down 20 percent from June 2009.

 

“Foreclosure activity in Colorado fell between May and June, leaving activity lower for the second quarter and first half this year compared to the first quarter of this year and the second half of 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, unemployment is on track to be much higher in 2010 than expected, meaning additional foreclosure filings may be on the way.”

 

Cheyenne County posts state’s top foreclosure rate for the quarter

Cheyenne County posted the highest county foreclosure rate in Colorado during the second quarter, with one in every 49 housing units receiving a foreclosure filing — 2.9 times the national average. Douglas County came in second highest foreclosure rate, with one in every 82 housing units receiving a foreclosure filing — 1.8 times the national average. Wels County had the third highest rate, with one in every 87 housing units receiving a foreclosure filing — 1.7 times the national average.

 

Arapahoe County leads state in total foreclosures for the second quarter

Arapahoe County led Colorado in total foreclosures, reporting 1,884 properties with foreclosure filings for the quarter. El Paso County had the second highest total, reporting 1,860 properties with foreclosure filings. Reporting 1,829 properties with foreclosure filings for the quarter, Adams County came in third. Denver County was fourth, reporting 1,801 properties with foreclosure filings. Fifth highest total was Jefferson County, where 1,640 properties with foreclosure filings were reported for the quarter.

 

State a moderate contributor to nation’s quarterly total

Foreclosure activity in Colorado represented 2 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Colorado

44

9

10,002

0

5,232

15,287

141

1.02

n/a

 

 

 

 

 

 

 

 

 

 

Cheyenne

0

0

0

0

23

23

49

2.92

2.85

Douglas

5

1

910

0

314

1,230

82

1.75

1.71

Weld

2

0

652

0

431

1,085

87

1.66

1.63

Adams

5

0

1,161

0

663

1,829

90

1.61

1.57

Archuleta

0

0

60

0

17

77

110

1.31

1.28

 

 

Colorado Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Colorado

44

9

10,002

0

5,232

15,287

141

-4.59

4.73

 

 

 

 

 

 

 

 

 

 

Arapahoe

8

1

1,145

0

730

1,884

123

-15.17

-12.66

El Paso

0

2

1,226

0

632

1,860

132

-4.27

2.25

Adams

5

0

1,161

0

663

1,829

90

-8.50

-10.17

Denver

9

3

1,064

0

725

1,801

154

-12.23

-10.44

Jefferson

2

1

1,062

0

575

1,640

140

13.73

11.56

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved