Colorado Foreclosure Activity Drops in November

Statewide  filings down 20 percent from October

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — were reported on 3,773 Colorado properties in November, a 20 percent decrease from October and 24 percent below the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Colorado had the 11th highest foreclosure rate in the nation, reporting one in every 575 housing units with a foreclosure filing in November — on par with the national average.

Garfield County posts top foreclosure rate in the  state for November
One in every 253 housing units in Garfield County had a foreclosure filing in November — 2.3 times the  national average and 2.3 times the state average — the highest foreclosure rate of all Colorado counties for the month. Adams County had the second highest  rate of one in every 315 housing units with a foreclosure filing during the  month — 1.8 times the national average and 1.8 times the state average. Weld  County had the third highest rate of one in every 324 housing units with a  foreclosure filing during the month — 1.8 times the national average and 1.8  times the state average.

Arapahoe County has highest foreclosure total in  November
Arapahoe County tallied  the highest level of foreclosure activity in the state, reporting 579  properties with foreclosure filings for the month. Adams County had the second  highest total, reporting 517 properties with foreclosure filings. Jefferson  County was third, reporting 513 properties with foreclosure filings. Fourth  highest was El Paso County, recording 400 properties with foreclosure filings. Denver County was fifth highest, tallying 342 properties with foreclosure filings for  the month.

State a moderate contributor to total foreclosure  activity in November
Colorado accounted for 2 percent  of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent  from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve  seen in each of the past four years, November’s numbers suggest a new set of  incoming foreclosure waves, many of which may roll into the market as REOs or  short sales sometime early next year,” said James Saccacio, co-founder of  RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago,  the smallest annual decrease over the past 12 months, and some bellwether  states such as California, Ohio and Massachusetts actually posted  year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that  started the foreclosure process over the past few months are now being  scheduled for public foreclosure auction.”

 Colorado Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Colorado

0

0

2,461

0

1,312

3,773

575

1.01

n/a

 

 

 

 

 

 

 

 

 

 

Garfield

0

0

45

0

43

88

253

2.29

2.27

Adams

0

0

381

0

136

517

315

1.84

1.82

Weld

0

0

160

0

132

292

324

1.79

1.78

Pueblo

0

0

134

0

62

196

347

1.67

1.66

Delta

0

0

23

0

14

37

362

1.60

1.59

 Colorado Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Colorado

0

0

2,461

0

1,312

3,773

575

-20.22

-24.08

 

 

 

 

 

 

 

 

 

 

Arapahoe

0

0

392

0

187

579

404

0.52

-3.82

Adams

0

0

381

0

136

517

315

-13.55

-9.93

Jefferson

0

0

357

0

156

513

446

27.30

6.21

El Paso

0

0

252

0

148

400

619

-23.66

-31.51

Denver

0

0

230

0

112

342

817

-35.59

-35.59

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