Colorado Foreclosure Trends
Posted by TheHomeCart.com on Thursday, October 16th, 2008 at 8:45pm.On August 5, 2008, the Colorado Division of Housing reported
foreclosure filings rose in the second quarter of 2008 however the rate
of increase is moderating.
The number of foreclosure filings provides a sound view of how many
borrowers have become seriously delinquent and/in default on their home
loans.
During the first quarter of 2008, 11,630 foreclosure filings were
reported by Colorado public trustees. And, in the second quarter, the
public trustees reported 10,875 foreclosures.
January to June 2008, there were 22,500 foreclosure filings and there
were 39,915 filings reported during the entire year of 2007.
Comparatively, the second quarter of 2007 to second quarter of 2008,
Colorado sustained a 9% increase in foreclosure filings. The second
quarter filings were higher than the 10,017 foreclosures filed in the
second quarter of 2007 but down 6% from the years first quarter.
Foreclosure filings in Colorado increased 31% in 2005/2006 and 40% from
2006/2007. Current forecasts are that filings may only increase 10-20%
in 2007/2008. This would be a notably reduced annual increase.
Our select team here with TheHomeCart.com and Brokers Guild - Cherry Creek Ltd is committed to meeting all of your Colorado real estate needs. We use the latest technology and utmost degree of customer service to enhance your real estate buying and selling experience. Our team services the Denver Metro area helping buyers and sellers with homes, townhomes, condos, lofts, and investment properties. We specialize in offering relocation assistance for local, national and international buyers of homes and properties here in colorful Colorado. For more information about buying or selling your Denver area home, please contact us here at TheHomeCart.com.
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