COLORADO FORECLOSURES SHOW SLIGHT DECREASE IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Foreclosure Rate Drops From First to Fourth Place Among the States

 

IRVINE, Calif. – Feb. 25, 2007 – Colorado documented 4,853 new foreclosure filings in January, a decrease of less than 1 percent from the previous month, but still 30 percent above the level recorded in January 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 850,000 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.

 

“January’s slight decline in the number of Colorado foreclosures is a bright sign in the state’s housing market. But an oversupply of residential real estate and a declining construction market could continue to drag the number of foreclosures upward again,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Colorado ranked 10th in the county in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 377 households ranked fourth among the 50 states.

 

Five counties account for majority of state’s foreclosure activity

The combined new foreclosure filings of five counties accounted for 65 percent of all foreclosures in Colorado in January. Arapahoe County documented the highest total, reporting 987 new foreclosure filings for the month. Adams County documented the second highest total in the state, 679 new filings. Reporting 616 new foreclosure filings, Jefferson County had the state’s third highest total. Denver County documented 474 new foreclosure filings, giving it the fourth highest total in the state. El Paso County rounded out the state’s top five, reporting 414 new filings in the foreclosure pipeline during the month.

 

Weld, Pueblo and Adams counties post top foreclosure rate

Weld County tallied the highest foreclosure rate in Colorado for January, one new foreclosure filing for every 173 households — 2.2 times the state average and five times the national average. Pueblo County registered the second highest rate, with one new foreclosure filing for every 175 households — 2.2 the state average and 5 times the national average. Adams County came in third with a foreclosure rate of one new foreclosure filing for every 195 households — 1.9 times the state average and 4.5 times national average. Arapahoe County posted the state’s fourth highest foreclosure rate, one new foreclosure filing for every 199 households— 1.9 times the state average and 4.4 times national average.

 

State accounts for 4 percent national total

Colorado accounted for 4 percent of the 130,511 foreclosure filings nationwide in January. The national total was up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Colorado

119

3,694

0

0

1,040

4,853

377

2.35

n/a

 

 

 

 

 

 

 

 

 

 

Adams

16

559

0

0

104

679

195

4.54

1.93

Alamosa

0

3

0

0

0

3

2,029

0.44

0.19

Arapahoe

13

722

0

0

252

987

199

4.44

1.89

Archuleta

0

1

0

0

1

2

3,106

0.29

0.12

Boulder

1

107

0

0

61

169

709

1.25

0.53

Broomfield

0

17

0

0

4

21

n/a

n/a

n/a

Chaffee

0

2

0

0

2

4

2,098

0.42

0.18

Clear Creek

0

7

0

0

1

8

641

1.38

0.59

Conejos

0

2

0

0

0

2

1,943

0.46

0.19

Custer

0

0

0

0

0

0

n/a

0.00

0.00

Delta

0

25

0

0

2

27

458

1.93

0.82

Denver

34

370

0

0

70

474

530

1.67

0.71

Dolores

0

0

0

0

0

0

n/a

0.00

0.00

Douglas

12

263

0

0

39

314

202

4.39

1.87

Eagle

0

0

0

0

0

0

n/a

0.00

0.00

El Paso

14

320

0

0

80

414

542

1.63

0.70

Elbert

0

11

0

0

1

12

593

1.49

0.64

Fremont

0

16

0

0

3

19

902

0.98

0.42

Garfield

1

9

0

0

1

11

1,576

0.56

0.24

Grand

0

1

0

0

0

1

10,894

0.08

0.03

Gunnison

0

0

0

0

1

1

9,135

0.10

0.04

Huerfano

0

2

0

0

0

2

2,300

0.39

0.16

Jefferson

7

372

0

0

237

616

345

2.57

1.09

Kit Carson

0

0

0

0

0

0

n/a

0.00

0.00

La Plata

0

10

0

0

0

10

2,077

0.43

0.18

Lake

0

2

0

0

0

2

1,957

0.45

0.19

Larimer

2

145

0

0

46

193

546

1.62

0.69

Las Animas

0

1

0

0

0

1

7,629

0.12

0.05

Logan

0

3

0

0

0

3

2,808

0.32

0.13

Mesa

1

52

0

0

7

60

807

1.10

0.47

Moffat

0

3

0

0

0

3

1,878

0.47

0.20

Montezuma

0

2

0

0

0

2

5,249

0.17

0.07

Montrose

1

13

0

0

2

16

888

1.00

0.42

Morgan

2

10

0

0

0

12

868

1.02

0.43

Otero

1

9

0

0

3

13

678

1.31

0.56

Park

0

7

0

0

4

11

972

0.91

0.39

Phillips

0

1

0

0

0

1

2,014

0.44

0.19

Prowers

0

1

0

0

0

1

5,977

0.15

0.06

Pueblo

3

262

0

0

72

337

175

5.07

2.16

Rio Blanco

0

1

0

0

0

1

2,855

0.31

0.13

Rio Grande

0

0

0

0

0

0

n/a

0.00

0.00

Routt

1

4

0

0

0

5

2,243

0.39

0.17

San Miguel

0

0

0

0

0

0

n/a

0.00

0.00

Summit

0

8

0

0

0

8

3,025

0.29

0.12

Teller

0

21

0

0

4

25

414

2.14

0.91

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Weld

10

330

0

0

43

383

173

5.13

2.18

 

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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