Colorado Foreclosure Auctions Lowest in Six Years

Dated: 01/01/2013

Views: 1038

 

According to a recent report, foreclosure auction sales in twelve metropolitan counties in Colorado in August fell to a six-year low. Additionally, according to the Colorado Division of Housing, foreclosure filings were down 1.6 percent. The division tracked foreclosure activity the following metro counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, El Paso, Jefferson, Larimer, Mesa, Pueblo and Weld.

Foreclosure auction sales in Colorado’s metro counties were down 10.4 percent in August,  compared with August 2011. During the same period, foreclosure filings fell to 2,287 from 2,325.

For the first eight months of the year, foreclosure filings were up four percent in 2012 when compared to the same period last year. However forclosrue auctions sales were down 25.7 percent over the same period. There were a total of 8,541 auction sales in the first eight months of this year, compared with 11,502 during the same time last year. Foreclosure filings are the initial action that begins the foreclosure process. Auction sales represent foreclosures that have been sold at auction at the end of the foreclosure process.

Ryan McMaken, a spokesman for the CDH said, “With all of the slowdowns and administrative delays that pushed foreclosure filings down so far last year, I expected a larger increase in filings this year that we’re seeing. Instead, new foreclosures are only up slightly this year, while completed foreclosures really dropped off, reflecting last year’s big drop in new filings.”

Comparing the first eight months of this year with the same period last year, the counties with the largest declines in foreclosure filings were Weld and Boulder counties where filings decreased by 8.3 percent and 8.6 percent, respectively.

Ten of twelve counties surveyed showed decreases in foreclosure auction sales during the first eight months of this year when compared to the same time in 2011.  The counties with the largest decreases in foreclosure auction sales were Douglas County and Denver County where auction sales decreased by 37.9 percent and 37.2 percent, respectively.

Blog author image

Carla Winter - Raymond Selix

Ray and Carla have been working as a team since 1995. Carla’s extensive knowledge of the Denver area real estate market not only includes over 35 years as a Real Estate Broker Associate but also in....

Latest Blog Posts

Denver Home Price Gains Leveling Out With Rest Of US

According to the S&P CoreLogic Case-Shiller Indices for June, home price gains are continuing to slow across much of the country, including in metro Denver, where they are starting to move in line

Read More

Denver Home Sales See A Decline In August

Despite mortgage rates reaching their lowest levels in three years, according to the Denver Metro Association of Realtors (DMAR), buyers purchased 5,219 homes and condos last month in metro Denver,

Read More

Colorado Federal Housing Authority First Time Home Buyer Programs

Many people are aware of traditional loan options for first-time buyers, but there are also several options at the state level that can help Colorado house hunters become homeowners. Here we’ll

Read More

Neighborhood Spotlight CoryMerrill

Cory-Merrill is a quiet neighborhood near south Denver, with a population of around 4,749. For a variety of reasons, Cory-Merrill is one of the best places to live in Colorado.Bounded by South

Read More