Colorado Foreclosure Fillings Set New Record

Date: Nov. 23rd, 2009
Contact: Alice Marsh Real Estate Resource Center

The Denver Business Journal reported today that there were 12,468 foreclosure filings in the 3rd quarter, setting a new all-time record. Completed foreclosure, however, are down from last year!

This is the 4th consecutive quarter in which statewide foreclosure fillings have increased, according to the state's latest "official" release of statewide foreclosure statistics as mandated earlier this year by the state Legislature.

The 3rd quarter filings are up 3% from the 2nd quarter which in turn was up 15% from the 1st quarter.

Total fillings this year for the 9 months ending September 30 were 35,112, up 18% from the same period 2008.

On a brighter note, the number of completed foreclosures (14,971) during the first 9 months of 2009 is down 8% from the same period in 2008. This decline is especially pronounced in Denver which is down 14% from the same period in 2008. Adams County dropped 3.5% and Douglas County dipped by
2.7%. Boulder County, however, rose nearly 30% from the previous year.
Denver County has a completed foreclosure rate of 1 in 113; Adams County is