Colorado Foreclosure Activity Rises in August

Filings increase 18 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 5,854 Colorado properties in August, an 18 percent increase from the previous month but a 10 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Colorado saw another hike in foreclosure activity in August, though the state’s number of filings remained well below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Contributing the its foreclosure issues, unemployment within the state rose for the month as well, hitting 8.2 percent – the highest rate reported in over one year.”

 

The state reported the 11th highest state foreclosure rate, as one in every 368 Colorado housing units received a foreclosure filing during the month.

 

Weld County leads the state in foreclosure rate for August

Weld County, where one in every 174 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Colorado. One in every 187 housing units received a foreclosure filing in Garfield County, for the second highest rate in the state. Coming in third was Douglas County, where one in every 209 housing units received a foreclosure filing in August. Fourth highest was Adams County, where one in every 223 housing units received a foreclosure filing. Teller County came in fifth, with one in every 243 housing units receiving a foreclosure filing during the month.

 

Arapahoe County posts top foreclosure total for August

Arapahoe County led Colorado in total foreclosure activity for August, reporting 811 properties with foreclosure filings. Adams County documented the second highest foreclosure activity, where 737 properties with foreclosure filings were reported. Denver County came in third, tallying 668 properties with foreclosure filings. Fourth highest was El Paso County, where 657 properties with foreclosure filings were reported. Weld County came in fifth, reporting 541 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Colorado accounted for 2 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Colorado Top Foreclosure Rates By County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Colorado

14

0

3,744

0

2,096

5,854

368

1.04

n/a

 

 

 

 

 

 

 

 

 

 

Weld

2

0

323

0

216

541

174

2.19

2.12

Garfield

0

0

79

0

38

117

187

2.04

1.97

Douglas

2

0

286

0

197

485

209

1.82

1.76

Adams

1

0

478

0

258

737

223

1.71

1.65

Teller

0

0

33

0

17

50

243

1.57

1.51

 

 

Colorado Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Colorado

14

0

3,744

0

2,096

5,854

368

17.55

-9.55

 

 

 

 

 

 

 

 

 

 

Arapahoe

1

0

506

0

304

811

285

3.71

-12.61

Adams

1

0

478

0

258

737

223

35.98

-7.88

Denver

2

0

399

0

267

668

415

7.92

-25.03

El Paso

3

0

423

0

231

657

375

5.29

-9.63

Weld

2

0

323

0

216

541

174

9.74

0.19

 

 

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