COLORADO FORECLOSURES INCREASE 18 PERCENT IN MARCH

Activity Up 16 Percent From a Year Ago; Foreclosure Rate Nation’s Second Highest

 

IRVINE, Calif. – April 23, 2007 – Colorado documented 6,267 foreclosure filings in March, an 18 percent increase from a revised February total, and a 16 percent increase from March 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 currently has the second highest foreclosure rate in the country,” said James J. Saccacio, chief executive officer of RealtyTrac. “Families in Colorado are struggling to keep their homes. Foreclosures are up, sales are down and prices are stagnant.

 

The Centennial State ranked 8th in the county in total foreclosures reported for March. The state’s foreclosure rate of one foreclosure filing for every 292 households — 2.7 times the national average — ranked second among the 50 states.

 

Five counties account for majority of state’s foreclosure activity

The combined foreclosure filings of five counties accounted for 75 percent of all foreclosures in Colorado in March. Arapahoe County led the way, documenting 1,221 foreclosure filings for the month. Adams County documented the second highest total, reporting 1,152 foreclosure filings. Denver County came in third, reporting 1,128 foreclosure filings. Jefferson County documented 692 foreclosure filings, the fourth highest total in the state. El Paso County rounded out the top five, reporting 489 filings in the foreclosure pipeline during the month.

 

Adams, Weld and Arapahoe counties post top foreclosure rates

Adams County tallied the highest foreclosure rate in the state for March, with one foreclosure filing for every 115 households — 2.5 times the state average and 6.7 times the national average. Weld County registered the second highest rate — one foreclosure filing for every 155 households — 1.9 times the state average and five times the national average. Arapahoe County tallied the third highest foreclosure rate, with one foreclosure filing for every 161 households — 1.8 times the state average and 4.8 times national average. Denver County posted the state’s fourth highest foreclosure rate at one foreclosure filing for every 223 households — 1.3 times the state average and 3.5 times national average.

 

State makes significant contribution to national total

Total foreclosure filings in Colorado accounted for 4 percent of the 490,150 foreclosure filings nationwide in March. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during 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 – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,134

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Colorado

64

5,224

0

0

979

6,267

292

2.65

n/a

 

 

 

 

 

 

 

 

 

 

Adams

5

1,037

0

0

110

1,152

115

6.74

2.54

Alamosa

0

7

0

0

4

11

553

1.40

0.53

Arapahoe

12

878

0

0

331

1,221

161

4.81

1.81

Archuleta

0

3

0

0

0

3

2,071

0.37

0.14

Boulder

0

210

0

0

55

265

452

1.71

0.65

Broomfield

0

17

0

0

4

21

683

1.13

0.43

Chaffee

0

2

0

0

3

5

1,678

0.46

0.17

Clear Creek

1

8

0

0

1

10

513

1.51

0.57

Costilla

0

0

0

0

0

0

n/a 

0.00

0.00

Delta

0

13

0

0

5

18

687

1.13

0.42

Denver

17

1,009

0

0

102

1,128

223

3.48

1.31

Dolores

0

0

0

0

0

0

n/a 

0.00

0.00

Douglas

3

197

0

0

23

223

284

2.73

1.03

Eagle

0

1

0

0

2

3

7,370

0.11

0.04

El Paso

4

421

0

0

64

489

459

1.69

0.64

Elbert

0

5

0

0

3

8

889

0.87

0.33

Fremont

0

24

0

0

6

30

572

1.36

0.51

Garfield

0

19

0

0

0

19

912

0.85

0.32

Gilpin

0

0

0

0

0

0

n/a 

0.00

0.00

Grand

0

0

0

0

0

0

n/a 

0.00

0.00

Gunnison

0

3

0

0

0

3

3,045

0.25

0.10

Huerfano

0

3

0

0

0

3

1,533

0.51

0.19

Jefferson

6

538

0

0

148

692

307

2.52

0.95

Kiowa

0

0

0

0

1

1

817

0.95

0.36

La Plata

0

5

0

0

2

7

2,966

0.26

0.10

Larimer

5

196

0

0

34

235

448

1.73

0.65

Las Animas

0

11

0

0

3

14

545

1.42

0.54

Logan

0

2

0

0

1

3

2,808

0.28

0.10

Mesa

1

37

0

0

2

40

1,211

0.64

0.24

Moffat

0

1

0

0

0

1

5,635

0.14

0.05

Montezuma

0

2

0

0

0

2

5,249

0.15

0.06

Montrose

0

20

0

0

8

28

507

1.53

0.58

Morgan

0

11

0

0

0

11

946

0.82

0.31

Otero

0

18

0

0

12

30

294

2.64

0.99

Park

1

20

0

0

8

29

369

2.10

0.79

Pitkin

0

1

0

0

0

1

10,096

0.08

0.03

Pueblo

3

112

0

0

0

115

512

1.51

0.57

Rio Grande

0

2

0

0

1

3

952

0.81

0.31

Routt

0

2

0

0

0

2

5,609

0.14

0.05

Sedgwick

0

0

0

0

1

1

1,387

0.56

0.21

Summit

0

2

0

0

0

2

12,101

0.06

0.02

Teller

1

9

0

0

2

12

864

0.90

0.34

Weld

5

378

0

0

43

426

155

4.99

1.88

 

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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