Colorado Foreclosure Activity Rises in Third Quarter

Total foreclosure filings up 11 percent from Q2; Up 13 percent from Q3 2008.

 

Colorado reported 16,265 properties with foreclosure filings in the third quarter of 2009, an increase of 11 percent from the previous quarter and 13 percent above the level reported in the third quarter 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

Foreclosure activity in Colorado was down 4 percent in September from the previous month to 6,212 properties with foreclosure filings, but still up 43 percent from September 2008.

 

“Colorado foreclosures rose in the third quarter of 2009, placing the state within the nation’s top ten states most affected by foreclosures for the period,” said James J. Saccacio, chief executive officer of RealtyTrac. “While Colorado’s 7 percent unemployment rate remains well below the 9.8 percent national average, there are a considerable number of families living under the poverty line and thus becoming affected by the threat of foreclosure.”

 

One in every 131 Colorado housing units received a foreclosure filing during the third quarter, ranking ninth among the 50 states.

 

Adams County posts state’s top foreclosure rate in the third quarter

Adams County posted the highest county foreclosure rate in the state for the third quarter, with one in every 70 housing units receiving a foreclosure filing — twice the national average and 1.9 times the state average. Weld County was a close second, with one in every 75 housing units receiving a foreclosure filing during the quarter — 1.8 times the national average and 1.7 times the state average. Arapahoe County posted the third highest foreclosure rate, where one in every 98 housing units received a foreclosure filing — 1.4 times the national average and 1.3 times the state average.

 

Arapahoe County leads state in foreclosure activity in the third quarter

Arapahoe County led the state in foreclosure activity, reporting 2,331 properties with foreclosure filings for the quarter. Adams County had the second highest total, reporting 2,322 properties with foreclosure filings. Denver County came in third, tallying 1,999 properties with foreclosure filings. El Paso County posted the fourth highest foreclosure activity for the quarter, reporting 1,855 properties with foreclosure filings. Jefferson County documented 1,435 properties with foreclosure filings, the state’s fifth highest foreclosure total in the quarter.

 

State a modest contributor to nation’s foreclosure activity for quarter and month

Colorado accounted for 2 percent of the 937,840 properties with foreclosure filings reported nationwide for the third quarter and 2 percent of the 343,638 properties with foreclosure filings reported for September. Total U.S. activity declined 5.4 percent between the second and third quarter of the year, but was up 23 percent from the third quarter of 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter, the highest quarterly foreclosure rate since RealtyTrac began issuing its report in 2005.

 

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 – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

n/a

n/a

Colorado

41

0

11,437

0

4,787

16,265

131

1.04

n/a

 

 

 

 

 

 

 

 

 

 

Adams

1

0

1,455

0

866

2,322

70

1.95

1.87

Weld

4

0

822

0

408

1,234

75

1.82

1.74

Arapahoe

3

0

1,621

0

707

2,331

98

1.39

1.33

Pueblo

2

0

408

0

221

631

106

1.28

1.23

Douglas

1

0

691

0

173

865

115

1.19

1.14

 

 

Colorado Top Foreclosure Totals by County – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 09

% Chg Q3 08

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

5.40

22.50

Colorado

41

0

11,437

0

4,787

16,265

131

11.43

12.53

 

 

 

 

 

 

 

 

 

 

Arapahoe

3

0

1,621

0

707

2,331

98

8.07

6.10

Adams

1

0

1,455

0

866

2,322

70

14.05

-3.85

Denver

6

0

1,352

0

641

1,999

137

-0.60

-20.71

El Paso

13

0

1,217

0

625

1,855

131

1.98

17.18

Jefferson

4

0

960

0

471

1,435

159

-2.38

3.76

 

 

Colorado Top Foreclosure Rates By County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

n/a

n/a

Colorado

15

0

4,242

0

1,955

6,212

342

1.09

n/a

 

 

 

 

 

 

 

 

 

 

Adams

1

0

622

0

458

1,081

150

2.48

2.28

Weld

3

0

276

0

139

418

221

1.68

1.55

Douglas

0

0

293

0

126

419

237

1.57

1.45

Pueblo

0

0

203

0

80

283

237

1.57

1.44

Arapahoe

1

0

675

0

271

947

241

1.54

1.42

 

 

Colorado Top Foreclosure Totals by County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Aug 09

% Chg Sept 08

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

-4.14

29.20

Colorado

15

0

4,242

0

1,955

6,212

342

-4.02

42.97

 

 

 

 

 

 

 

 

 

 

Adams

1

0

622

0

458

1,081

150

35.13

52.90

Arapahoe

1

0

675

0

271

947

241

2.05

52.01

Denver

4

0

480

0

247

731

375

-17.96

-17.49

El Paso

4

0

403

0

191

598

407

-17.74

20.56

Jefferson

1

0

350

0

179

530

430

-15.34

32.83

 

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