Wednesday, June 2, 2010

Colorado Foreclosures

Everyone keeps saying, "The recession is over and Colorado is fairing better than other places." The recession is hardly over for the thousands of Colorado families who have filed for foreclosure. A small sign of improvement can be seen in first quarter filings this year which were down 4.3%. So things seem to be getting better according to a report issued by the Colorado Department of Local Affairs' Division of Housing.

Sam Mamet's recent newsletter from the Colorado Municipal League gave statistics on page 5 which I wish to share with you. The sentences below are from the CML newsletter and are also found in the Local Affairs report:

New foreclosure filings rose to 11,136 in our state during this years first quarter and that's up 6%. 2010 first quarter total for foreclosure sales at auction was highest since the third quarter of 2007. Driving the large number of foreclosure sales were the record-high totals of new foreclosure filings experienced during the second and third quarter of last year.

Since the first quarter of 2009, foreclosure filings have fallen in Adams, Denver, El Paso and Larimer Counties. Mesa County reported the largest increase among metropolitan counties during the first quarter with new filings increasing 126.9%.

Weld reported the highest foreclosure rate among all metropolitan counties with 178 households per foreclosure sale at auction during the first quarter. There were 192 households per foreclosure sale in Adams County, and 234 households per foreclosure sale in Arapahoe County. In Denver County, there were 329 households per foreclosure sale.

Boulder County reported the lowest foreclosure rate among metropolitan counties with 605 households per foreclosure sale during the first quarter of this year.

Many Colorado families are being helped to avoid foreclosure by calling the Colorado Foreclosure Hotline.

So thanks, Sam Mamet, for helping inform us on foreclosures in Colorado. For the full report visit Bet you are going to make a mistake on this one.

So things seem to be looking better, unless you are a family which is in foreclosure.

No comments: