COLORADO FORECLOSURES DOWN 12 PERCENT IN JUNE

State Remains Atop the Foreclosure Rate Rankings

 

IRVINE, Calif. – July 31, 2006 – Reporting 3,695 properties entered some stage of the foreclosure process in June, Colorado experienced a 12 percent decline from the 4,198 properties reported in May, according to the RealtyTrac™ June 2006 U.S. Foreclosure Market Report. Despite this latest monthly decline, however, the state’s foreclosure activity remains almost 61 percent ahead of the 2,299 properties reported for the same month last year.

 

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.

 

“While this one-month decline in foreclosure activity looks promising, Colorado remains the national leader in terms of overall foreclosure rate with one new foreclosure filing for every 495 households,” said James J. Saccacio, chief executive officer of RealtyTrac. “The nation’s energy predicament has undoubtedly benefited the state’s natural resources and mining employment sectors. Even with such economic expansion, however, high interest rates and a lackluster real estate market could still lead to more foreclosure activity in the future.”

 

Although number one in terms of foreclosure rate, Colorado ranked ninth in the country for total foreclosure activity reported in June. In addition to being the nation’s highest foreclosure rate on a per household basis, it was 2.6 times the national average.

 

Top Five Counties Account for Lion’s Share of Foreclosure Activity

Five out of the state’s 43 counties accounted for 76 percent of total foreclosure activity in Colorado for June. Denver County led the way with 773 properties entering some stage of the foreclosure process during the month. Adams County came in second with 610 properties in foreclosure, followed by Arapahoe County with 589 properties. El Paso County reported 429 properties in foreclosure, and Weld County rounded out the top five, reporting 393 properties entering the foreclosure pipeline.

 

Weld County Posts State’s Highest Foreclosure Rate

Weld County posted the state’s highest foreclosure rate in June, with one new foreclosure filing for every 168 households — almost three times the state average and 7.8 times the national average.  With one new foreclosure filing for every 217 households — 2.3 times the state average and 6 times the national average — Adams County had the second highest foreclosure rate in the state. Douglas County came in third reporting one new foreclosure filing for every 254 households — close to twice the state average and 5.2 times the national average — followed by Denver County reporting one new foreclosure filing for every 325 households and Arapahoe County reporting one new foreclosure filing for every 334 households.

 

Rocky Mountain State a Factor in National Total

The total number of foreclosures reported in Colorado accounted for 4 percent of the 88,194 properties that entered some stage of foreclosure nationwide in June. The national total represents a 5 percent decline from the May total of 92,746 foreclosures. The nation’s foreclosure rate declined to one new foreclosure filing for every 1,311 households during the month.

 

 

 

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 – June 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

21,866

38,382

2,966

9,598

15,382

88,194

1,311

Colorado

55

2,975

0

0

665

3,695

495

2.647

 

 

 

 

 

 

 

 

 

 

Adams

6

512

0

0

92

610

217

6.03

2.28

Alamosa

0

0

0

0

0

0

0.00

0.00

Arapahoe

5

496

0

0

88

589

334

3.92

1.48

Archuleta

1

0

0

0

1

2

3,106

0.42

0.16

Boulder

1

41

0

0

31

73

1,642

0.80

0.30

Broomfield

0

7

0

0

5

12

Chaffee

0

0

0

0

1

1

8,392

0.16

0.06

Clear Creek

0

3

0

0

0

3

1,709

0.77

0.29

Crowley

0

1

0

0

0

1

1,542

0.85

0.32

Delta

3

7

0

0

0

10

1,237

1.06

0.40

Denver

6

661

0

0

106

773

325

4.03

1.52

Dolores

0

0

0

0

0

0

0.00

0.00

Douglas

3

188

0

0

58

249

254

5.15

1.95

Eagle

0

0

0

0

0

0

0.00

0.00

El Paso

7

345

0

0

77

429

523

2.51

0.95

Elbert

0

11

0

0

1

12

593

2.21

0.84

Fremont

0

10

0

0

11

21

816

1.61

0.61

Garfield

0

2

0

0

1

3

5,779

0.23

0.09

Grand

0

0

0

0

0

0

0.00

0.00

Gunnison

0

0

0

0

0

0

0.00

0.00

Hinsdale

0

0

0

0

0

0

0.00

0.00

Jefferson

10

131

0

0

41

182

1,168

1.12

0.42

Kit Carson

0

1

0

0

1

2

1,715

0.76

0.29

La Plata

0

0

0

0

1

1

20,765

0.06

0.02

Lake

0

0

0

0

0

0

0.00

0.00

Larimer

1

119

0

0

21

141

747

1.75

0.66

Las Animas

0

0

0

0

0

0

0.00

0.00

Logan

0

0

0

0

1

1

8,424

0.16

0.06

Mesa

0

17

0

0

1

18

2,690

0.49

0.18

Montezuma

0

0

0

0

0

0

0.00

0.00

Montrose

0

8

0

0

0

8

1,775

0.74

0.28

Morgan

1

2

0

0

0

3

3,470

0.38

0.14

Otero

0

0

0

0

1

1

8,813

0.15

0.06

Ouray

0

0

0

0

0

0

0.00

0.00

Park

0

3

0

0

1

4

2,674

0.49

0.19

Pueblo

5

118

0

0

17

140

421

3.11

1.18

Rio Grande

0

0

0

0

0

0

0.00

0.00

Routt

0

0

0

0

1

1

11,217

0.12

0.04

San Miguel

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

5

0

0

6

11

942

1.39

0.53

Washington

0

0

0

0

0

0

0.00

0.00

Weld

6

286

0

0

101

393

168

7.78

2.94

 

 

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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