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The annual numbers are in and the total number of Colorado foreclosures in 2013 were down 54% compared to the number of foreclosures in 2012. THese numbers have resulted in Colorado dropping from the state ranked 10th in foreclosures to a ranking of 22.
Keep in mind that these numbers are for foreclosure filings, not sales and represent the initial filing of documents with the county. Many filings never turn into actual sales as the foreclosure can be stopped by home owners through payoff, short sale or various other options. However, these numbers are a good predictor of foreclosure sales in the state and follow the same trend lines. We are hoping to have full foreclosure sales number out later this month for the entire year of 2013. From the Denver Business Journal: Colorado experienced a sharp decline in foreclosure filings in 2013 from the year before, according to RealtyTrac’s year-end foreclosure market report. The state recorded a total of 16,684 foreclosure filings last year, or one in every 132 households, which was down 54 percent from 2012, said RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties. Those numbers ranked Colorado 22nd in the nation in its foreclosure rate, compared with 10th in the nation at the end of 2012. Colorado had 6,829 completed foreclosures last year, down 54 percent from 2012. If you have been following our reports here, you’ll see that these number are very much in line with the number of available Denver HUD homes and other Denver foreclosures on the market. The availability has decreased dramatically over the past 18 months and has left investors looking for other alternatives. For more details or numbers on a specific area, contact our team at 303-726-1874.
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