COLORADO FORECLOSURES DECREASE 14 PERCENT IN OCTOBER

Activity Down 4 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Nov. 26, 2007 – Colorado documented 5,379 foreclosure filings in October, a 14 percent decrease from the previous month, and a 4 percent decrease from October 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 382 households was 1.5 times the national average, ranking it seventh among the 50 states.

 

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.

 

“Total foreclosure filings in Colorado have dropped on both a monthly and yearly basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment has gone down statewide and is considerably below the national average which can only help the foreclosure situation. However, Northern Colorado — like Arapahoe, Adams, Jefferson and Weld counties — are still experiencing a significant amount of foreclosure activity.”

 

Colorado ranked 11th among the 50 states in total foreclosure filings reported for October, lagging far behind national leader California where 50,401 foreclosure filings were reported for the month. The other states in the nation’s top 10 for foreclosure activity were Florida, Ohio, Michigan, Texas, Georgia, Illinois, Nevada, New York and Arizona, which reported roughly 1,000 more foreclosure filings than Colorado for the month.

 

Four counties account for more than half of state’s foreclosure activity

Total foreclosure filings of four Colorado counties — Arapahoe, Adams, Jefferson and Weld — accounted for 58 percent of all activity in the state for October. Arapahoe County documented the highest foreclosure total, reporting 1,059 foreclosure filings for the month. Adams County came in second, reporting 917 foreclosure filings. Jefferson County reported the state’s third highest total with 705 foreclosure filings. Reporting 437 foreclosure filings, Weld County had the fourth highest foreclosure total in the state for the month.

 

Adams, Arapahoe and Weld counties post top three foreclosure rates

Adams County posted the highest foreclosure rate in Colorado for October, one foreclosure filing for every 168 households — 2.3 times the state average and 3.3 times the national average. Weld County tallied the second highest rate, one foreclosure filing for every 199 households — 1.9 times the state average and 2.8 times the national average. Arapahoe County posted the third highest rate, one foreclosure filing for every 211 households — 1.8 times the state average and 2.6 times national average. Fourth highest rate was reported in Clear Creek County, one foreclosure filing for every 300 households — 1.3 times the state average and 1.9 times the national average.

 

State a minor contributor to national total for the month

Total foreclosure filings in Colorado accounted for 2 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,598

22,485

48,356

53,609

224,452

555

n/a

n/a

Colorado

58

4,298

0

0

1,023

5,379

382

1.45

n/a

 

 

 

 

 

 

 

 

 

 

Adams

4

760

0

0

153

917

168

3.29

2.27

Alamosa

0

3

0

0

2

5

1,279

0.43

0.30

Arapahoe

8

642

0

0

409

1,059

211

2.63

1.81

Archuleta

0

4

0

0

1

5

1,555

0.36

0.25

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

0

117

0

0

56

173

702

0.79

0.54

Broomfield

0

31

0

0

4

35

528

1.05

0.72

Chaffee

0

3

0

0

0

3

3,167

0.18

0.12

Cheyenne

0

0

0

0

0

0

n/a

0.00

0.00

Clear Creek

0

7

0

0

11

18

300

1.85

1.27

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

13

0

0

3

16

817

0.68

0.47

Denver

10

674

0

0

67

751

358

1.55

1.07

Dolores

0

0

0

0

0

0

n/a

0.00

0.00

Douglas

12

166

0

0

8

186

484

1.15

0.79

Eagle

0

5

0

0

1

6

4,233

0.13

0.09

El Paso

2

340

0

0

28

370

631

0.88

0.61

Elbert

0

19

0

0

5

24

348

1.59

1.10

Fremont

1

21

0

0

14

36

522

1.06

0.73

Garfield

0

19

0

0

0

19

1,059

0.52

0.36

Gilpin

0

5

0

0

0

5

654

0.85

0.58

Grand

0

5

0

0

2

7

1,903

0.29

0.20

Gunnison

0

2

0

0

3

5

2,060

0.27

0.19

Hinsdale

0

0

0

0

0

0

n/a

0.00

0.00

Huerfano

0

1

0

0

0

1

4,975

0.11

0.08

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

7

528

0

0

170

705

318

1.74

1.20

Kiowa

0

0

0

0

0

0

n/a

0.00

0.00

Kit Carson

0

0

0

0

0

0

n/a

0.00

0.00

La Plata

0

10

0

0

0

10

2,387

0.23

0.16

Lake

0

0

0

0

0

0

n/a

0.00

0.00

Larimer

1

238

0

0

8

247

496

1.12

0.77

Las Animas

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

0

3

0

0

3

6

409

1.36

0.93

Logan

0

3

0

0

2

5

1,742

0.32

0.22

Mesa

0

46

0

0

11

57

981

0.57

0.39

Mineral

0

0

0

0

0

0

n/a

0.00

0.00

Moffat

0

2

0

0

0

2

2,975

0.19

0.13

Montezuma

0

1

0

0

0

1

11,104

0.05

0.03

Montrose

0

6

0

0

0

6

2,700

0.21

0.14

Morgan

1

10

0

0

0

11

1,004

0.55

0.38

Otero

0

7

0

0

1

8

1,116

0.50

0.34

Ouray

0

0

0

0

0

0

n/a

0.00

0.00

Park

0

3

0

0

14

17

738

0.75

0.52

Phillips

0

0

0

0

0

0

n/a

0.00

0.00

Pitkin

0

0

0

0

1

1

10,914

0.05

0.03

Prowers

2

0

0

0

0

2

3,059

0.18

0.12

Pueblo

3

162

0

0

12

177

367

1.51

1.04

Rio Blanco

1

1

0

0

1

3

993

0.56

0.38

Rio Grande

0

4

0

0

1

5

1,311

0.42

0.29

Routt

0

0

0

0

0

0

n/a

0.00

0.00

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

6

0

0

2

8

3,432

0.16

0.11

Teller

0

18

0

0

12

30

391

1.42

0.98

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Weld

6

413

0

0

18

437

199

2.79

1.92

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 construction properties, 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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