Colorado Foreclosure Activity Falls in February

Statewide filings down 14 percent from January

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,655 Colorado properties in February, a 14 percent decrease from January and 13 percent below the level reported for February 2011, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Colorado had the 11th highest foreclosure rate in the nation, reporting one in every 605 housing units with a foreclosure filing in February.

Garfield County posts top foreclosure rate in the state for February
 One in every 243 housing units in Garfield County had a foreclosure filing in February — 2.6 times the national average and 2.5 times the state average — the highest foreclosure rate of all Colorado counties for the month. Eagle County had the second highest rate of one in every 377 housing units with a foreclosure filing during the month — 1.7 times the national average and 1.6 times the state average. Adams County had the third highest rate of one in every 379 housing units with a foreclosure filing during the month — 1.7 times the national average and 1.6 times the state average.

Arapahoe County has top foreclosure total in February
 Arapahoe County led the state in foreclosure activity, reporting 511 properties with foreclosure filings for the month. Adams County was second highest, reporting 431 properties with foreclosure filings. Jefferson County was third, reporting 422 properties with foreclosure filings. Fourth highest was El Paso County, recording 419 properties with foreclosure filings. Denver County was fifth, tallying 357 properties with foreclosure filings for the month.

State a moderate contributor to total foreclosure activity in February
 Colorado accounted for 2 percent of the 206,900 properties with foreclosure filings reported nationwide in February. Total U.S. activity decreased by 2 percent from January and was down over 8 percent from the level reported in February 2011. One in every 637 U.S. housing units received a foreclosure filing during the month.

“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore, CEO of RealtyTrac. “Although national foreclosure activity was pushed lower by decreases in a handful of larger states, 21 states posted annual increases in foreclosure activity, the most states with annual increases since November 2010.

“The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued. “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

Colorado Top Foreclosure Rates By County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

n/a

n/a

Colorado

0

0

2,119

0

1,536

3,655

605

1.05

n/a

 

 

 

 

 

 

 

 

 

 

Garfield

0

0

42

0

54

96

243

2.62

2.49

Eagle

0

0

42

0

41

83

377

1.69

1.60

Adams

0

0

221

0

210

431

379

1.68

1.60

Weld

0

0

121

0

129

250

385

1.65

1.57

Pueblo

0

0

101

0

51

152

457

1.39

1.32

  Colorado Top Foreclosure Totals by County – February 2012

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 12

% Chg Feb 11

 

 

 

 

 

 

 

 

 

 

United States

23,058

35,828

60,700

23,480

63,834

206,900

637

-1.92

-8.09

Colorado

0

0

2,119

0

1,536

3,655

605

-13.55

-13.12

 

 

 

 

 

 

 

 

 

 

Arapahoe

0

0

292

0

219

511

466

-5.89

1.79

Adams

0

0

221

0

210

431

379

-17.59

-21.92

Jefferson

0

0

239

0

183

422

545

4.98

-9.44

El Paso

0

0

268

0

151

419

603

-20.79

-5.84

Denver

0

0

227

0

130

357

801

-3.77

-31.35

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved