COLORADO FORECLOSURE ACTIVITY UP 9 PERCENT IN JANUARY

Activity Up 41 Percent From January 2007; Foreclosure Rate Ranked No. 5

 

IRVINE, Calif. – Feb. 26, 2008 – Colorado reported 6,833 foreclosure filings in January, the 10th highest foreclosure total in the country. The total represented a 9 percent increase from the previous month, and was up 41 percent from January 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 300 households was 1.8 times the national average, ranking fifth highest nationwide.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Despite numerous attempts by state and local officials to stem the tide of foreclosures in Colorado, activity remains at an elevated level in the Centennial State,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s housing market hasn’t regained its footing yet so we could still see an increase in foreclosure activity for the foreseeable future.”

 

However, activity in the Centennial State was well below national leader California by more than 50,300 foreclosure filings in January. The second highest foreclosure total was reported in Florida with 30,178 foreclosure filings. Texas remained a distant third with 14,698 foreclosure filings, followed by Ohio in fourth place with 12,785 filings for the month. Michigan and Georgia ran neck and neck with 10,746 filings and 10,665 filings respectively. The remaining states in the nation’s top 10 for total foreclosure filings in January were Arizona, Massachusetts and Illinois.

 

Top five counties account for bulk of state’s activity in January

Foreclosure activity in five Colorado counties accounted for 72 percent of all the state’s filings in January. Denver County led the way with 1,627 foreclosure filings for the month. Arapahoe County came in a close second with 1,108 foreclosure filings. Adams County was third with 835 foreclosure filings for the month. Jefferson County posted the fourth highest foreclosure total with 790 foreclosure filings, followed by fifth place Weld County with 562 filings in some stage of the foreclosure process.

 

Weld County posts highest foreclosure rate

Weld county led the state with the highest foreclosure rate for January, one foreclosure filing for every 154 households — twice the state average and 3.5 times the national average. Denver County posted the second highest foreclosure rate for the month, one foreclosure filing for every 165 households — 1.8 times the state average and 3.2 times the national average. Adams County posted the third highest foreclosure rate, one foreclosure filing for every 185 households — 1.6 times the state average and 2.9 times the national average.

 

State a major contributor to nation’s total in January

Total filings in Colorado accounted for 3 percent of the 223,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

            Colorado Foreclosure Market by County – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

Colorado

26

4,358

0

0

2,449

6,833

300

1.78

n/a

 

 

 

 

 

 

 

 

 

 

Adams

6

605

0

0

224

835

185

2.89

1.62

Alamosa

0

8

0

0

2

10

639

0.84

0.47

Arapahoe

1

612

0

0

495

1,108

201

2.65

1.49

Archuleta

0

5

0

0

0

5

1,555

0.34

0.19

Baca

0

0

0

0

0

0

 n/a

0.00

0.00

Bent

0

0

0

0

0

0

 n/a

0.00

0.00

Boulder

2

136

0

0

72

210

579

0.92

0.52

Broomfield

0

29

0

0

9

38

486

1.10

0.62

Chaffee

0

5

0

0

2

7

1,357

0.39

0.22

Cheyenne

0

0

0

0

0

0

 n/a

0.00

0.00

Clear Creek

0

5

0

0

7

12

451

1.19

0.67

Conejos

0

0

0

0

0

0

 n/a

0.00

0.00

Costilla

0

0

0

0

0

0

 n/a

0.00

0.00

Crowley

0

0

0

0

0

0

 n/a

0.00

0.00

Custer

0

0

0

0

0

0

 n/a

0.00

0.00

Delta

0

8

0

0

1

9

1,452

0.37

0.21

Denver

3

928

0

0

696

1,627

165

3.24

1.82

Dolores

0

0

0

0

2

2

644

0.83

0.47

Douglas

4

266

0

0

154

424

212

2.52

1.42

Eagle

0

3

0

0

2

5

5,079

0.11

0.06

El Paso

0

346

0

0

152

498

469

1.14

0.64

Elbert

0

14

0

0

5

19

440

1.21

0.68

Fremont

0

1

0

0

0

1

18,785

0.03

0.02

Garfield

1

6

0

0

1

8

2,515

0.21

0.12

Gilpin

0

2

0

0

0

2

1,634

0.33

0.18

Grand

0

6

0

0

2

8

1,665

0.32

0.18

Gunnison

0

1

0

0

0

1

10,301

0.05

0.03

Hinsdale

0

0

0

0

0

0

 n/a

0.00

0.00

Huerfano

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

1

534

0

0

255

790

284

1.88

1.06

Kiowa

0

0

0

0

0

0

 n/a

0.00

0.00

Kit Carson

0

1

0

0

0

1

3,562

0.15

0.08

La Plata

0

7

0

0

5

12

1,989

0.27

0.15

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Larimer

4

118

0

0

66

188

652

0.82

0.46

Las Animas

0

6

0

0

0

6

1,334

0.40

0.23

Lincoln

0

2

0

0

2

4

614

0.87

0.49

Logan

0

7

0

0

5

12

726

0.74

0.41

Mesa

0

44

0

0

20

64

874

0.61

0.34

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Moffat

0

2

0

0

0

2

2,975

0.18

0.10

Montezuma

0

2

0

0

0

2

5,552

0.10

0.05

Montrose

1

12

0

0

3

16

1,013

0.53

0.30

Morgan

0

16

0

0

3

19

581

0.92

0.52

Otero

0

8

0

0

2

10

893

0.60

0.34

Ouray

0

2

0

0

3

5

521

1.03

0.58

Park

2

0

0

0

0

2

6,272

0.09

0.05

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Pitkin

0

1

0

0

0

1

10,914

0.05

0.03

Prowers

0

5

0

0

2

7

874

0.61

0.34

Pueblo

0

149

0

0

107

256

254

2.10

1.18

Rio Blanco

0

1

0

0

0

1

2,979

0.18

0.10

Rio Grande

0

2

0

0

19

21

312

1.71

0.96

Routt

0

1

0

0

2

3

4,466

0.12

0.07

Saguache

0

0

0

0

0

0

 n/a

0.00

0.00

San Juan

0

0

0

0

0

0

 n/a

0.00

0.00

San Miguel

0

0

0

0

0

0

 n/a

0.00

0.00

Sedgwick

0

0

0

0

0

0

 n/a

0.00

0.00

Summit

0

14

0

0

5

19

1,445

0.37

0.21

Teller

1

0

0

0

0

1

11,734

0.05

0.03

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

Weld

0

438

0

0

124

562

154

3.46

1.95

Yuma

0

0

0

0

0

0

 n/a

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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