Colorado Forclosures Fall 58 Percent In 2013

Dated: 01/17/2014

Views: 927

Colorado experienced a 58 percent drop in foreclosure starts and 54 percent drop in foreclosure completions in 2013 compared with 2012, according to a national report released today. Colorado handily beat the U.S. average, which showed a year-over-year drop of 33 percent in foreclosure starts and a 31 percent drop in foreclosure completions, shows the report by California-based RealtyTrac. The biggest drop in the metro area was in the City and County of Denver, which boasted a year-over-year drop of 72.5 percent for total foreclosure activity, from the initial filing to the public trustee sale, known as a REO. Other counties showed similar percentage drops. Adams was down 65 percent; Arapahoe fell 70%; and Douglas and Jefferson were each down 69 percent. In Colorado, one out of every 132 households was in some state of the foreclosure process, while the national average was one out of very 96 households. In Colorado that equates to 0.76 percent of the total housing units, while the national average was 1.04 percent. The Denver area was one of the first places in the country to be swept up by the foreclosure spiral and for a number of years was considered one of the foreclosure capitals in the U.S. While Denver, Colorado and the entire country has is no longer caught in the foreclosure twister, during the past eight years, including 2013, 10.9 million U.S. properties have started the foreclosure process and 5.6 million have been repossessed by lenders through foreclosure, according to RealtyTrac.
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Ranae Urso

My name is RaNae Urso and I specialize in residential sales and buyer representation in the Denver Metro area. I have been in the real estate business over 14 years of my 30 years in Colorado. I enjo....

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