COLORADO FORECLOSURES INCREASE 9 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Rate Nation’s Second Highest; Activity Up 51 Percent From a Year Ago

 

IRVINE, Calif. – June 15, 2007 – Colorado documented 6,321 foreclosure filings in May, a 9 percent increase from the previous month and a 51 percent increase from May 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‘s rising foreclosure rate shows no sign of abating in May,” said James J. Saccacio, chief executive officer of RealtyTrac. “Colorado currently has the second highest foreclosure rate in the country. Foreclosures are up and remain concentrated along the northern Front Range, with Adams, Weld, Arapahoe and Denver counties the hardest hit areas.”

 

Colorado ranked eighth in the county in total foreclosures reported for May. The state’s foreclosure rate of one foreclosure filing for every 290 households ranked second among the 50 states and was more than twice the national average.

 

Five counties account for majority of state’s foreclosure activity

Five counties accounted for 78 percent of all foreclosures in Colorado in May. Denver County documented the highest total, reporting 1,687 foreclosure filings for the month. Adams County documented the second highest total in the state, 1,129 foreclosure filings. Arapahoe County documented the state’s third highest total, 837 foreclosure filings. Jefferson County documented 747 foreclosure filings, giving it the fourth highest total in the state. El Paso County rounded out the state’s top five, reporting 523 filings entering some part of the foreclosure pipeline during the month.

 

Adams, Denver and Douglas counties post top foreclosure rate

Adams County tallied the highest foreclosure rate in Colorado for May, one foreclosure filing for every 117 households — 2.5 times the state average and 5.6 times the national average. Denver County registered the second highest rate, one foreclosure filing for every 149 households — 1.9 times the state average and 4.4 times the national average. Douglas County tallied the third highest foreclosure rate, one foreclosure filing for every 212 households — 1.4 times the state average and three times national average. Arapahoe County posted the state’s fourth highest foreclosure rate, with one foreclosure filing for every 235 households — 1.2 times the state average and 2.8 times national average.

 

State accounts for 4 percent national total

Total foreclosure filings in Colorado accounted for nearly 4 percent of the 176,137 foreclosure filings nationwide in May. The national total was up 19 percent from the previous month and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 656 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 – May 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

n/a

n/a

Colorado

69

5,813

0

0

439

6,321

290

2.27

n/a

 

 

 

 

 

 

 

 

 

 

Adams

6

1,108

0

0

15

1,129

117

5.58

2.46

Alamosa

0

4

0

0

2

6

1,015

0.64

0.28

Arapahoe

8

687

0

0

142

837

235

2.79

1.23

Archuleta

0

16

0

0

2

18

345

1.90

0.83

Boulder

2

127

0

0

46

175

685

0.95

0.42

Broomfield

0

20

0

0

3

23

623

1.05

0.46

Chaffee

0

3

0

0

1

4

2,098

0.31

0.13

Clear Creek

1

5

0

0

0

6

855

0.76

0.33

Conejos

0

2

0

0

0

2

1,943

0.33

0.14

Delta

0

20

0

0

5

25

495

1.32

0.58

Denver

23

1,651

0

0

13

1,687

149

4.40

1.94

Douglas

3

293

0

0

3

299

212

3.09

1.36

Eagle

0

1

0

0

0

1

22,111

0.02

0.01

El Paso

3

517

0

0

3

523

387

1.69

0.74

Elbert

0

10

0

0

3

13

547

1.19

0.52

Fremont

0

24

0

0

5

29

591

1.11

0.49

Garfield

0

15

0

0

7

22

788

0.83

0.36

Grand

0

0

0

0

0

0

n/a 

0.00

0.00

Gunnison

0

1

0

0

0

1

9,135

0.07

0.03

Huerfano

0

0

0

0

1

1

4,599

0.14

0.06

Jefferson

3

602

0

0

142

747

284

2.30

1.01

La Plata

0

15

0

0

3

18

1,154

0.56

0.25

Lake

0

1

0

0

0

1

3,913

0.16

0.07

Larimer

5

122

0

0

9

136

775

0.84

0.37

Las Animas

0

10

0

0

3

13

587

1.11

0.49

Lincoln

0

2

0

0

1

3

802

0.81

0.36

Logan

0

5

0

0

1

6

1,404

0.46

0.20

Mesa

1

55

0

0

1

57

850

0.77

0.34

Moffat

0

3

0

0

0

3

1,878

0.34

0.15

Montezuma

0

6

0

0

0

6

1,750

0.37

0.16

Montrose

0

15

0

0

0

15

947

0.69

0.30

Morgan

0

8

0

0

0

8

1,301

0.50

0.22

Otero

0

11

0

0

13

24

367

1.78

0.78

Ouray

0

0

0

0

0

0

n/a 

0.00

0.00

Park

1

15

0

0

2

18

594

1.10

0.48

Pitkin

0

1

0

0

1

2

5,048

0.13

0.05

Prowers

0

1

0

0

0

1

5,977

0.10

0.04

Pueblo

4

173

0

0

9

186

317

2.07

0.91

Rio Grande

0

2

0

0

0

2

1,428

0.45

0.20

Sedgwick

0

1

0

0

0

1

1,387

0.47

0.20

Summit

0

6

0

0

0

6

4,034

0.16

0.07

Teller

0

14

0

0

1

15

691

0.95

0.41

Weld

9

241

0

0

2

252

263

2.49

1.10

 

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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