2007 Foreclosure Statistics By Denver Metro Counties
|
Counties |
2007
Filings
(Jan-Sept.) |
2007
Sales
(Jan-Sept.) |
2007
1st Quarter
Filings |
2007
1st
Quarter
Sales |
2007
2nd Quarter
Filings |
2007
2nd Quarter
Sales |
2007
3rd Quarter
Filings |
2007
3rd Quarter
Sales |
|
Adams County
Foreclosures |
4,540 |
3,435 |
1,456 |
1,000 |
1,734 |
1,180 |
1,350 |
1,255 |
|
Arapahoe County
Foreclosures |
4,529 |
3,154 |
1,569 |
969 |
1,478 |
969 |
1,482 |
1,088 |
|
Denver County
Foreclosures |
5,879 |
3,727 |
1,940 |
900 |
2,151 |
979 |
1,788 |
1,848* |
|
Douglas County
Foreclosures |
1,267 |
1,031 |
373 |
338 |
457 |
412 |
437 |
281 |
|
Jefferson County
Foreclosures |
2,554 |
1,601 |
839 |
527 |
826 |
543 |
889 |
531 |
*Denver reported a spike in foreclosure sales from 979 during the second quarter to 1,848 during the third. However, this number reflects recent re-processing of 835 foreclosure files and does not reflect an actual increase in new mortgage defaults in Denver. The spike in foreclosures sales does not signal a new trend in Denver. |
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Colorado Division Of Housing Foreclosure Report
As listed below, the foreclosure filings number and the foreclosure sale number are two independent numbers. In other words, the properties that went to final sale during the current quarter are not the same properties which entered the foreclosure process the same quarter.
Fore Example, among properties that went to sale during the third quarter, a large portion of those foreclosures were actually filed during the second quarter of 2007. The properties that entered foreclosure during the third quarter will only proceed to sale during a future quarter.
Foreclosure Sale Statistics:
|
Year |
Colorado Foreclosure Filings |
|
2003 Entire Year |
13,573 |
|
2004 Entire Year |
16,801 |
|
2005 Entire Year |
21,782 |
|
2006 Entire Year |
28,435 |
|
2007 Jan-Sept |
28,960 |
|
Year |
Colorado Foreclosure Sales |
|
2003 Entire Year |
6,258 |
|
2004 Entire Year |
7,782 |
|
2005 Entire Year |
12,699 |
|
2006 Entire Year |
15,112 |
|
2007 Jan-Sept |
19,025 |
Why are both numbers important?
The foreclosure filings number provides a view of how many borrowers have become seriously delinquent on their loans. The foreclosure sale numbers generally indicate how many households have lost all equity in the home as the result of a home being sold to another party.
This other party can be the mortgage company, an investor, or others. Many households in the foreclosure process lose their homes through a variety of processes such as short sales, and deed-in-lieu-of-foreclosure agreements.
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