COLORADO FORECLOSURES DECREASE 31 PERCENT IN APRIL

Foreclosures Increase 43 Percent From a Year Ago

Arapahoe County Posts State’s Highest Foreclosure Rate

 

Irvine, Calif. – May 30, 2006 – Colorado reported 3,706 properties entering some stage of foreclosure in April, a 31 percent decline from the previous month but a 43 percent increase from the 2,595 foreclosures reported for April 2005, according to RealtyTrac’s April 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Despite the decrease in Colorado foreclosures in April, the state stills holds the highest foreclosure rate in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Slowed home price appreciation and record levels of consumer bankruptcies are keeping the numbers high.”

 

With one foreclosure filing for every 494 households (2.6 times the national average), Colorado‘s foreclosure rate ranked first among the 50 states. Overall, the state’s total accounted for 4.1 percent of the nation’s foreclosures. Only nine states reported more foreclosures for the month.

 

Reporting 797 properties entering some stage of foreclosure, Arapahoe County accounted for the majority of the state’s foreclosure filings in April. The county’s foreclosure rate of one foreclosure filing for every 247 households was the highest in the state (twice the state average). Denver had the second highest number of foreclosures with 735 filings.

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                         Colorado Foreclosure Market By County — April 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

Colorado

73

2,947

0

0

686

3,706

494

2.57

 

 

 

 

 

 

 

 

 

 

Adams

4

484

0

0

108

596

222

5.70

2.22

Arapahoe

8

669

0

0

120

797

247

5.14

2.00

Archuleta

0

1

0

0

0

1

6,212

0.20

0.08

Boulder

1

73

0

0

45

119

1,008

1.26

0.49

Broomfield

0

12

0

0

0

12

 

 

 

Chaffee

0

0

0

0

1

1

8,392

0.15

0.06

Clear Creek

0

3

0

0

0

3

1,709

0.74

0.29

Custer

0

0

0

0

1

1

2,989

0.42

0.17

Delta

4

6

0

0

2

12

1,031

1.23

0.48

Denver

19

624

0

0

92

735

342

3.71

1.44

Douglas

4

77

0

0

10

91

696

1.82

0.71

El Paso

8

314

0

0

35

357

629

2.02

0.79

Elbert

0

9

0

0

4

13

547

2.32

0.90

Fremont

0

3

0

0

3

6

2,858

0.44

0.17

Garfield

0

8

0

0

2

10

1,734

0.73

0.28

Gilpin

1

5

0

0

2

8

366

3.46

1.35

Grand

0

0

0

0

1

1

10,894

0.12

0.05

Gunnison

0

0

0

0

0

0

 

0.00

0.00

Huerfano

0

0

0

0

1

1

4,599

0.28

0.11

Jefferson

5

179

0

0

109

293

725

1.75

0.68

La Plata

0

3

0

0

0

3

6,922

0.18

0.07

Larimer

7

165

0

0

30

202

522

2.43

0.95

Mesa

0

16

0

0

13

29

1,670

0.76

0.30

Moffat

0

1

0

0

0

1

5,635

0.23

0.09

Montezuma

0

0

0

0

1

1

10,497

0.12

0.05

Montrose

0

1

0

0

1

2

7,101

0.18

0.07

Morgan

1

18

0

0

10

29

359

3.53

1.38

Otero

0

0

0

0

1

1

8,813

0.14

0.06

Park

2

8

0

0

10

20

535

2.37

0.92

Pitkin

0

2

0

0

0

2

5,048

0.25

0.10

Prowers

0

1

0

0

1

2

2,989

0.42

0.17

Pueblo

1

176

0

0

17

194

304

4.18

1.63

Rio Grande

0

0

0

0

0

0

 

0.00

0.00

Routt

2

2

0

0

1

5

2,243

0.57

0.22

Sedgwick

0

0

0

0

0

0

 

0.00

0.00

Summit

0

1

0

0

0

1

24,201

0.05

0.02

Teller

0

6

0

0

5

11

942

1.35

0.52

Washington

0

0

0

0

0

0

 

0.00

0.00

Weld

6

80

0

0

60

146

453

2.80

1.09

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. 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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