COLORADO FORECLOSURES INCREASE 3 PERCENT IN JULY

State Activity Up 55 Percent From Year Ago: Foreclosure Rate Top in the Nation

 

IRVINE, Calif. – August 11, 2006 – The number of Colorado properties entering some stage of the foreclosure process was up 3 percent in July to 3,810 properties, giving it the eighth highest foreclosure total in the country. Reporting one new foreclosure filing for every 480 households — 2.6 times the national average — the state’s foreclosure rate was the highest in the nation for the month, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“After a one month decline in activity, this slight rise in foreclosures for July from the 3,695 properties reported in June looks promising,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state is not out of the woods yet as is evidenced by the fact that it’s been leading the nation in foreclosure rate for many months now.”

 

In terms of foreclosures for the month, Colorado‘s total was slightly less than 900 foreclosures lower than seventh place Georgia, and about 9,300 foreclosures lower than national leader Texas. Other states with higher totals for the month included Florida, California, Michigan, Ohio and Illinois.

 

Denver County tops state in foreclosure activity

Denver County led the state in foreclosure activity for July, reporting 722 properties entering some stage of the foreclosure process. Second highest total was reported in Adams County with 698 properties in the process, followed by Arapahoe County with the third highest total, reporting 653 properties in the foreclosure pipeline. El Paso County reported 518 properties in the process, making it the fourth highest total in the state for the month.

 

Weld, Adams counties is near dead heat for highest rate in the state

Weld County barely beat out Adams County for the highest foreclosure rate in Colorado for July. Reporting one new foreclosure filing for every 189 households — 2.5 times the state average and 6.6 times the national average — Weld County led the state in foreclosure rate, followed closely by Adams County reporting one new foreclosure filing for every 190 households — also 2.5 times the state average and 6.6 times the national average. Reporting one new foreclosure filing for every 270 households — 1.8 times the state average and 4.6 times the national average — Douglas County had the third highest rate in the state.

 

State has minor impact on national total

Colorado‘s foreclosures accounted for slightly more than 4 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 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: 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).

 

 

                     Colorado Foreclosure Market by County – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Colorado

101

3,019

0

0

690

3,810

480

2.60

 

 

 

 

 

 

 

 

 

 

Adams

12

602

0

0

84

698

190

6.56

2.53

Alamosa

0

0

0

0

2

2

3044

0.41

0.16

Arapahoe

6

472

0

0

175

653

301

4.13

1.59

Archuleta

1

0

0

0

0

1

6212

0.20

0.08

Boulder

7

41

0

0

7

55

2180

0.57

0.22

Broomfield

1

12

0

0

1

14

Clear Creek

0

3

0

0

1

4

1282

0.97

0.37

Conejos

0

0

0

0

0

0

0.00

0.00

Crowley

0

1

0

0

0

1

1542

0.81

0.31

Custer

0

0

0

0

0

0

0.00

0.00

Delta

0

0

0

0

0

0

0.00

0.00

Denver

14

620

0

0

88

722

348

3.58

1.38

Dolores

0

0

0

0

0

0

0.00

0.00

Douglas

7

201

0

0

27

235

270

4.62

1.78

Eagle

0

2

0

0

0

2

11056

0.11

0.04

El Paso

22

425

0

0

71

518

433

2.87

1.11

Elbert

0

15

0

0

11

26

274

4.55

1.76

Fremont

0

3

0

0

3

6

2858

0.44

0.17

Garfield

0

10

0

0

3

13

1334

0.93

0.36

Gilpin

0

5

0

0

0

5

586

2.13

0.82

Grand

0

0

0

0

0

0

0.00

0.00

Gunnison

0

0

0

0

0

0

0.00

0.00

Hinsdale

0

0

0

0

0

0

0.00

0.00

Jefferson

2

18

0

0

10

30

7083

0.18

0.07

La Plata

0

0

0

0

2

2

10383

0.12

0.05

Lake

0

1

0

0

0

1

3913

0.32

0.12

Larimer

22

156

0

0

35

213

495

2.52

0.97

Logan

0

5

0

0

0

5

1685

0.74

0.29

Mesa

0

13

0

0

5

18

2690

0.46

0.18

Montezuma

0

0

0

0

0

0

0.00

0.00

Montrose

0

5

0

0

0

5

2840

0.44

0.17

Morgan

0

0

0

0

2

2

5205

0.24

0.09

Ouray

0

0

0

0

1

1

2146

0.58

0.22

Park

0

4

0

0

3

7

1528

0.81

0.31

Pitkin

0

3

0

0

0

3

3365

0.37

0.14

Prowers

0

1

0

0

0

1

5977

0.21

0.08

Pueblo

4

177

0

0

22

203

290

4.29

1.65

Rio Grande

0

0

0

0

0

0

0.00

0.00

Routt

0

1

0

0

0

1

11217

0.11

0.04

San Miguel

0

0

0

0

0

0

0.00

0.00

Sedgwick

0

0

0

0

1

1

1387

0.90

0.35

Summit

2

0

0

0

0

2

12101

0.10

0.04

Teller

0

8

0

0

2

10

1036

1.20

0.46

Weld

1

215

0

0

134

350

189

6.59

2.54

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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