COLORADO FORECLOSURES INCREASE 19 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Rate Ranks No. 4 in Nation; Activity Up 27 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Colorado documented 6,425 foreclosure filings in November, a 19 percent increase from the previous month, and a 27 percent increase from November 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

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.

 

Colorado continues to struggle with a stubbornly high foreclosure rate,” said James J. Saccacio, chief executive officer of RealtyTrac. “Colorado’s housing woes have yet to bottom out, as foreclosure filings push more homeowners into default. Most of the state’s foreclosure activity is on the Front Range. The counties with high foreclosure filing totals in November were Adams, Denver, Arapahoe, and Weld counties.”

 

Colorado ranked 9th in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 320 households ranked 4th highest among the 50 states and was 1.9 times the national average.

 

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

Four counties — Adams, Denver, Arapahoe and Jefferson — accounted for 63 percent of all foreclosure in Colorado in November. Adams County documented the highest foreclosure total, reporting 1,105 foreclosure filings for the month. Denver County documented the second highest foreclosure total in the state, reporting 1,015 foreclosure filings. Arapahoe County documented the state’s third highest foreclosure total, 1,013 foreclosure filings. Jefferson County documented the fourth highest foreclosure total, with 938 foreclosure filings for the month.

 

Adams, Weld and Arapahoe counties post top foreclosure rate

Adams County tallied Colorado’s highest county foreclosure rate in November, one foreclosure filing for every 140 households — 2.3 times the state average and 4.4 times the national average. Weld County registered the second highest foreclosure rate, one foreclosure filing for every 151 households — 2.1 times the state average and 4.1 times the national average. Arapahoe County tallied the third highest foreclosure rate, one foreclosure filing for every 220 households — 2.8 times national average. Jefferson County posted the state’s fourth highest foreclosure rate, one foreclosure filing for every 239 households — 2.6 times the national average.

 

State accounts for 3 percent of national total

Total foreclosure filings in Colorado accounted for 3 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Colorado

70

3,323

0

0

3,032

6,425

320

1.93

n/a

 

 

 

 

 

 

 

 

 

Adams

15

583

0

0

507

1,105

140

4.41

2.29

Alamosa

0

3

0

0

6

9

710

0.87

0.45

Arapahoe

16

376

0

0

621

1,013

220

2.80

1.45

Archuleta

0

4

0

0

1

5

1,555

0.40

0.21

Baca

0

1

0

0

0

1

2,455

0.25

0.13

Bent

0

0

0

0

0

0

n/a  

0.00

0.00

Boulder

2

92

0

0

121

215

565

1.09

0.57

Broomfield

0

25

0

0

10

35

528

1.17

0.61

Chaffee

0

2

0

0

1

3

3,167

0.19

0.10

Cheyenne

0

0

0

0

0

0

n/a  

0.00

0.00

Clear Creek

0

1

0

0

6

7

772

0.80

0.41

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

10

0

0

1

11

1188

0.52

0.27

Denver

14

548

0

0

453

1,015

265

2.33

1.21

Dolores

0

1

0

0

0

1

1,288

0.48

0.25

Douglas

4

246

0

0

92

342

263

2.34

1.21

Eagle

0

9

0

0

2

11

2,309

0.27

0.14

El Paso

6

138

0

0

161

305

765

0.81

0.42

Elbert

0

11

0

0

2

13

643

0.96

0.50

Fremont

0

21

0

0

17

38

494

1.25

0.65

Garfield

0

15

0

0

0

15

1,341

0.46

0.24

Gilpin

0

6

0

0

7

13

251

2.45

1.27

Grand

0

4

0

0

4

8

1,665

0.37

0.19

Gunnison

0

1

0

0

1

2

5,151

0.12

0.06

Hinsdale

0

0

0

0

0

0

n/a  

0.00

0.00

Huerfano

0

1

0

0

0

1

4,975

0.12

0.06

Jackson

0

0

0

0

0

0

n/a  

0.00

0.00

Jefferson

3

415

0

0

520

938

239

2.58

1.34

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

4

0

0

0

4

5,968

0.10

0.05

Lake

0

0

0

0

0

0

n/a  

0.00

0.00

Larimer

3

207

0

0

84

294

417

1.48

0.77

Las Animas

0

4

0

0

0

4

2,002

0.31

0.16

Lincoln

0

4

0

0

2

6

409

1.51

0.78

Logan

0

9

0

0

17

26

335

1.84

0.95

Mesa

0

35

0

0

13

48

1,165

0.53

0.27

Mineral

0

0

0

0

0

0

n/a  

0.00

0.00

Moffat

0

0

0

0

0

0

n/a  

0.00

0.00

Montezuma

0

4

0

0

0

4

2,776

0.22

0.12

Montrose

0

11

0

0

2

13

1,246

0.49

0.26

Morgan

0

16

0

0

10

26

425

1.45

0.75

Otero

0

7

0

0

11

18

496

1.24

0.64

Ouray

0

0

0

0

0

0

n/a  

0.00

0.00

Park

0

19

0

0

11

30

418

1.47

0.76

Phillips

0

0

0

0

0

0

n/a  

0.00

0.00

Pitkin

0

1

0

0

0

1

10,914

0.06

0.03

Prowers

0

7

0

0

13

20

306

2.02

1.04

Pueblo

1

96

0

0

109

206

316

1.95

1.01

Rio Blanco

0

0

0

0

0

0

n/a  

0.00

0.00

Rio Grande

0

2

0

0

3

5

1,311

0.47

0.24

Routt

0

1

0

0

2

3

4,466

0.14

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

11

0

0

0

11

2,496

0.25

0.13

Teller

0

13

0

0

10

23

510

1.21

0.63

Washington

0

1

0

0

0

1

2,369

0.26

0.13

Weld

6

358

0

0

212

576

151

4.09

2.12

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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