Tuesday, November 30, 2010

Recent articles of interest

Colorado urban foreclosure sales at 19-month low (11/23/2010)

Foreclosure sales at auction in Colorado’s largest counties fell to a 19-month low in October as the mortgage industry slowed down action on foreclosures, the state Division of Housing reported Monday.

Foreclosure sales in Colorado’s 12 urban counties totaled 1,308 in October, a decline of 38 percent from September’s total of 2,111 and down 13.8 percent from October 2009’s tally of 1,518, the report said.

Foreclosure dropping across Colorado (11/23/2010)
Those are both signs the Larimer County economy is bumping along, improving slowly.

Foreclosure sales statewide dropped to a 19-month low in the state's metropolitan counties, including Larimer and Weld, during October, making October's sales total the smallest since March 2009, according to a report released Monday by the Colorado Division of Housing.

For the first 10 months of the year, filings are down 16.2 percent while sales are up 17.2 percent, a sign that foreclosed homes are coming off the inventory

Region's foreclosure filings, sales fall in October

DENVER - Weld, Larimer and Denver counties have had the biggest decreases in foreclosure filings in the state through October, according to a report by the Department of Local Affairs' Division of Housing.

Weld County's foreclosure filings through October were down 17.3 percent over the same period in 2009, while Larimer County's filings were down by 16.2 percent. Denver County's filings were down by 17.9 percent.

Weld County starts to dig out of slump with a bit of foreclosure relief

Greeley and Weld County, battered with high foreclosure rates during the recession, finally got a dose of good news in third-quarter numbers from the Colorado Division of Housing.

Weld posted declines in both filings and foreclosure sales in the July-through-September statistics, bucking recent trends.

Weld posted 626 foreclosure filings in this year's third quarter compared to 905 in the year-ago period, a drop of 30.8 percent. The county had 685 filings in the second quarter, a 23.4 percent drop from 894 in the year-ago period.

Weld had 426 completed sales in the third quarter compared to 459 in the year-ago period, a 7.2 percent decrease. All of the state's other major counties had increases in year-over-year sales for the quarter.

“It's definitely needed in Weld County,” McMaken said of the latest numbers, “because they've gone on longer than other counties in terms of growing (rates) quarter over quarter over time.”