COLORADO FORECLOSURES INCREASE 4 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Rate Nation’s Fifth Highest; Activity Up 55 Percent From July 2006

 

IRVINE, Calif. – August 24, 2007 – Colorado documented 5,920 foreclosure filings, ranking it the seventh highest foreclosure total in the nation for July. The monthly total represents a 4 percent increase from the previous month, and is up 55 percent from July 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state’s foreclosure rate of one new foreclosure filing for every 347 households — twice the national average — ranked fifth highest in the nation.

 

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‘s foreclosure ranking dropped from third to fifth among U.S. states in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “Plus, the state’s foreclosure rate is improving after leading the nation for most of last year. Moreover, Colorado’s unemployment rate remains well below the national average, and home price appreciation is still positive — both good signs that can help sustain the local housing market.”

 

Five counties account for majority of state’s foreclosure activity

The combined foreclosure filings of five Colorado counties accounted for 73 percent of all foreclosures in the state in July. Arapahoe County documented the highest total, reporting 1,269 foreclosure filings for the month. Denver County counted the second highest total in the state, reporting 1,259 foreclosure filings. Adams County came in with the state’s third highest total, 758 foreclosure filings. Jefferson County documented 640 foreclosure filings, giving it the fourth highest total in the state. El Paso County rounded out the state’s top five, reporting 452 filings in the foreclosure pipeline during the month.

 

Arapahoe County posts top foreclosure rate in the state

Arapahoe County tallied the highest foreclosure rate in Colorado for July, with one foreclosure filing for every 176 households — twice the state average and 4 times the national average. Weld County posted the second highest foreclosure rate, one foreclosure filing for every 198 households — 1.8 times the state average and 3.5 times the national average. Adams County tallied the third highest rate, one foreclosure filing for every 204 households — 1.7 times the state average and 3.4 times national average. Fourth highest rate was posted in Denver County at one foreclosure filing for every 213 households — 1.6 times the state average and 3.3 times national average.

 

State accounts for 3 percent national total

Total foreclosure filings in Colorado accounted for 3 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Colorado

59

5,261

0

0

600

5,920

347

2.00

n/a

 

 

 

 

 

 

 

 

 

 

Adams

3

725

0

0

30

758

204

3.40

1.70

Alamosa

1

7

0

0

0

8

799

0.87

0.43

Arapahoe

14

967

0

0

288

1,269

176

3.94

1.97

Archuleta

0

2

0

0

1

3

2,591

0.27

0.13

Boulder

2

179

0

0

38

219

555

1.25

0.63

Broomfield

1

28

0

0

6

35

528

1.31

0.66

Chaffee

0

7

0

0

4

11

864

0.80

0.40

Delta

0

10

0

0

3

13

1,005

0.69

0.35

Denver

15

1,232

0

0

12

1,259

213

3.25

1.63

Dolores

0

0

0

0

0

0

n/a

0.00

0.00

Douglas

4

279

0

0

4

287

314

2.21

1.11

Eagle

0

2

0

0

0

2

12,698

0.05

0.03

El Paso

5

446

0

0

1

452

516

1.34

0.67

Elbert

0

13

0

0

3

16

522

1.33

0.66

Fremont

0

27

0

0

0

27

696

1.00

0.50

Garfield

0

3

0

0

0

3

6,705

0.10

0.05

Grand

0

0

0

0

0

0

n/a

0.00

0.00

Gunnison

0

3

0

0

0

3

3,434

0.20

0.10

Jefferson

5

440

0

0

195

640

351

1.98

0.99

La Plata

0

12

0

0

0

12

1,989

0.35

0.17

Lake

0

0

0

0

0

0

n/a

0.00

0.00

Larimer

5

128

0

0

0

133

921

0.75

0.38

Las Animas

0

1

0

0

4

5

1,601

0.43

0.22

Logan

0

7

0

0

0

7

1,244

0.56

0.28

Mesa

1

36

0

0

0

37

1,512

0.46

0.23

Moffat

0

4

0

0

0

4

1,488

0.47

0.23

Montezuma

0

5

0

0

0

5

2,221

0.31

0.16

Montrose

0

2

0

0

1

3

5,400

0.13

0.06

Morgan

0

17

0

0

1

18

613

1.13

0.57

Otero

0

4

0

0

3

7

1,275

0.54

0.27

Ouray

0

1

0

0

0

1

2,606

0.27

0.13

Park

1

1

0

0

0

2

6,272

0.11

0.06

Prowers

0

3

0

0

0

3

2,039

0.34

0.17

Pueblo

1

212

0

0

1

214

304

2.28

1.14

Rio Grande

0

0

0

0

0

0

n/a

0.00

0.00

Summit

0

1

0

0

0

1

27,456

0.03

0.01

Teller

0

24

0

0

0

24

489

1.42

0.71

Weld

1

433

0

0

5

439

198

3.51

1.76

 

 

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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