Colorado Foreclosure Activity Up Slightly in November

Statewide filings increase 3 percent from previous month; down from last year

 

Colorado foreclosure activity rose in November to 5,204 properties with foreclosure filings, up 3 percent from the previous month, but 2 percent below the level reported in November 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Colorado rose slightly in November, although to a level that was incrementally lower than this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest yearly decline was in default notices, which fell 54 percent from November 2008. The state still holds one of the lower unemployment rates in the nation, and home sales are beginning to pick up. These are major contributing factors the overall decline in foreclosure activity.”

 

Colorado ranked 12th in the country in total foreclosure filings for the month. With one in every 409 housing units receiving a foreclosure filing, its foreclosure rate ranked 11th among the 50 states.

 

Weld County posts state’s highest foreclosure rate in November

With one in every 225 housing units receiving a foreclosure filing — 1.9 times the national average and 1.8 times the state average — Weld County posted the highest county foreclosure rate in the state for November. Adams County had the second highest rate, with one in every 255 housing units receiving a foreclosure filing — 1.6 times the national average and 1.6 times the state average. Arapahoe County came in third highest, with one in every 305 housing units receiving a foreclosure filing — 1.4 times the national average and 1.3 times the state average.

 

Five counties responsible for bulk of state’s foreclosure filings in November

Five counties accounted for 61 percent of all foreclosure filings in the state during November. Arapahoe County led all counties, totaling 750 properties with foreclosure filings for the month. El Paso County was second highest, documenting 660 properties with foreclosure filings. Reporting 637 properties with foreclosure filings for the month, Denver County had the third highest total in the state. Adams County was fourth highest, reporting 636 properties with foreclosure filings, while Jefferson County came in fifth, reporting 503 properties with foreclosure filings for the month.

 

State a contributor to nation’s foreclosure total in November

Colorado accounted for 2 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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: DefaultNotice 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Colorado

22

0

3,299

0

1,883

5,204

409

1.02

n/a

 

 

 

 

 

 

 

 

 

 

Weld

0

0

230

0

181

411

225

1.85

1.82

Adams

1

0

386

0

249

636

255

1.64

1.60

Arapahoe

3

0

446

0

301

750

305

1.37

1.34

Douglas

13

0

195

0

111

319

311

1.34

1.31

Archuleta

0

0

19

0

6

25

332

1.26

1.23

 

 

Colorado Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Colorado

22

0

3,299

0

1,883

5,204

409

3.11

-2.31

 

 

 

 

 

 

 

 

 

 

Arapahoe

3

0

446

0

301

750

305

25.63

-29.64

El Paso

1

0

358

0

301

660

369

3.94

2.96

Denver

1

0

422

0

214

637

431

10.21

-15.96

Adams

1

0

386

0

249

636

255

-1.70

-31.83

Jefferson

0

0

338

0

165

503

453

-10.18

20.62

 

 

 

 

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