COLORADO FORECLOSURES DECREASE 4 PERCENT IN DECEMBER

Activity 285 Percent Above a Year Ago; State Posts Nation’s Highest Foreclosure Rate

 

IRVINE, Calif. – Jan. 15, 2007 – Colorado reported 4,864 properties entering some stage of the foreclosure process in December, a 4 percent decrease from the 5,051 properties reported in November, but still 285 percent increase above the 1,264 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.  

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 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.

 

Colorado’s foreclosure rate remains high despite a slight decrease in foreclosures this month,” said James J. Saccacio, chief executive officer of RealtyTrac. “Colorado’s home price appreciation is significantly below the national average , which means homeowners facing the prospect of foreclosure may not have as much equity to work with if they try to sell or refinance out of their predicament.”

 

Four counties account for majority of state’s foreclosure activity

Four counties accounted for 61 percent of all foreclosures in Colorado during December. Denver County led the way, reporting 954 properties entering some stage of the foreclosure process for the month. Adams County had the second highest total, with 787 properties entering some stage of foreclosure. Arapahoe County had the third highest, with 629 properties entering foreclosure, followed closely by Jefferson County, reporting 605 properties entering some stage of the foreclosure pipeline.

 

Adams, Weld and Denver counties post top foreclosure rates

Adams County led the state in terms of foreclosure rate, reporting one new foreclosure filing for every 168 households — 2.2 times the state average and 6.3 times the national average. Weld County had the second highest total, with one new foreclosure filing for every 169 households — 2.2 times the state average and 6.2 times the national average. Douglas County posted the third highest foreclosure rate, with one new foreclosure filing for every 222 households — 1.7 times the state average and 4.7 times the national average.

 

State reports nation’s highest foreclosure rate

Colorado led the nation with the highest foreclosure rate in December. The state documented one new foreclosure filing for every 376 households during the month. Colorado’s foreclosure activity accounted for 4 percent of the 109,652 properties entering some stage of foreclosure nationwide during the month. The national total represents a decrease of 9 percent from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 households.  

 

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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – December 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Colorado

57

3,955

0

0

852

4,864

376

2.80

n/a

 

 

 

 

 

 

 

 

 

 

Adams

8

618

0

0

161

787

168

6.26

2.23

Arapahoe

12

459

0

0

158

629

313

3.37

1.20

Archuleta

0

3

0

0

0

3

2,071

0.51

0.18

Boulder

0

118

0

0

35

153

784

1.35

0.48

Broomfield

0

24

0

0

1

25

n/a 

n/a 

n/a 

Chaffee

0

7

0

0

2

9

932

1.13

0.40

Clear Creek

0

12

0

0

2

14

366

2.88

1.03

Costilla

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

5

0

0

4

9

1,375

0.77

0.27

Denver

16

835

0

0

103

954

264

4.00

1.43

Dolores

0

0

0

0

0

0

n/a 

0.00

0.00

Douglas

1

246

0

0

38

285

222

4.75

1.69

Eagle

0

7

0

0

0

7

3,159

0.33

0.12

El Paso

3

301

0

0

77

381

589

1.79

0.64

Elbert

1

6

0

0

1

8

889

1.19

0.42

Fremont

1

21

0

0

4

26

659

1.60

0.57

Garfield

0

25

0

0

0

25

693

1.52

0.54

Gilpin

1

7

0

0

1

9

325

3.24

1.16

Grand

0

1

0

0

1

2

5,447

0.19

0.07

Huerfano

1

2

0

0

0

3

1,533

0.69

0.25

Jefferson

4

470

0

0

131

605

351

3.00

1.07

Kit Carson

0

2

0

0

0

2

1,715

0.61

0.22

La Plata

0

13

0

0

0

13

1,597

0.66

0.24

Lake

0

1

0

0

0

1

3,913

0.27

0.10

Larimer

0

165

0

0

27

192

549

1.92

0.69

Las Animas

0

0

0

0

3

3

2,543

0.41

0.15

Logan

0

1

0

0

0

1

8,424

0.13

0.04

Mesa

1

32

0

0

7

40

1,211

0.87

0.31

Moffat

0

2

0

0

0

2

2,818

0.37

0.13

Montezuma

0

5

0

0

0

5

2,099

0.50

0.18

Montrose

0

6

0

0

0

6

2,367

0.45

0.16

Morgan

0

6

0

0

2

8

1,301

0.81

0.29

Otero

0

0

0

0

1

1

8,813

0.12

0.04

Park

0

21

0

0

10

31

345

3.06

1.09

Pitkin

0

1

0

0

1

2

5,048

0.21

0.07

Pueblo

1

145

0

0

37

183

322

3.27

1.17

Rio Grande

0

4

0

0

5

9

667

1.58

0.56

Routt

1

6

0

0

0

7

1,602

0.66

0.23

San Juan

2

0

0

0

0

2

316

3.34

1.19

Summit

0

6

0

0

0

6

4,034

0.26

0.09

Teller

0

22

0

0

3

25

414

2.54

0.91

Weld

4

350

0

0

37

391

169

6.23

2.22

 

 

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 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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