Colorado Foreclosure Activity Up Slightly in February

Statewide filings increase 2 percent from January

 

Foreclosure activity in Colorado rose in February to 5,154 properties with foreclosure filings, up 2 percent from the previous month and 22 percent above the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Colorado’s foreclosure level was up slightly in February,” said James J. Saccacio, chief executive officer of RealtyTrac. “The biggest increase was in auction notices, which grew 6 percent for the month.”

 

Colorado ranked 11th in the country in total foreclosures for the month. With one in every 418 housing units receiving a foreclosure filing, its foreclosure rate ranked 11th among the 50 states.

 

Weld County posts top foreclosure rate in the state for February

With one in every 218 housing units receiving a foreclosure filing — 1.9 times the national average and 1.9 the state average — Weld County posted the state’s highest county foreclosure rate in February. Adams County was second, with one in every 242 housing units receiving a foreclosure filing — 1.7 times the national average and 1.7 times the state average. Douglas County came in third highest, with one in every 285 housing units receiving a foreclosure filing — 1.5 times the national average and 1.5 times the state average.

 

Arapahoe County reports highest foreclosure total in February

Arapahoe County led the state in foreclosure activity, totaling 715 properties with foreclosure filings for February. Adams County was second, documenting 679 properties with foreclosure filings. Reporting 594 properties with foreclosure filings for the month, El Paso County ranked third highest. Jefferson County came in fourth place, reporting 582 properties with foreclosure filings, while the fifth highest total was in Denver County, where 554 properties with foreclosure filings were reported for the month.

 

State a significant contributor to nation’s monthly foreclosure total

Colorado accounted for 2 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 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: DefaultNotice 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 – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Colorado

19

0

3,416

0

1,719

5,154

418

1.00

n/a

 

 

 

 

 

 

 

 

 

 

Weld

1

0

243

0

187

431

218

1.92

1.91

Adams

1

0

410

0

268

679

242

1.73

1.73

Douglas

2

0

232

0

122

356

285

1.47

1.46

Rio Grande

0

0

13

0

9

22

303

1.38

1.38

Arapahoe

0

0

502

0

213

715

324

1.29

1.29

 

 

Colorado Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Jan 10

% Chg

Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Colorado

19

0

3,416

0

1,719

5,154

418

2.49

22.16

 

 

 

 

 

 

 

 

 

 

Arapahoe

0

0

502

0

213

715

324

1.71

14.95

Adams

1

0

410

0

268

679

242

17.07

11.49

El Paso

4

0

350

0

240

594

414

-13.28

-15.98

Jefferson

6

0

402

0

174

582

393

35.98

80.19

Denver

3

0

386

0

165

554

500

-17.19

0.00

 

 

 

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