2013_3rdQ Foreclosure Report2 (2)
Content
Division of Housing 3rd Quarter 2013 Foreclosure Report
The Colorado Division of Housing is a division of the Colorado Department of Local Affairs
November 13, 2013 Summary and Methods In response to recommendations from the Colorado Blue Ribbon Panel on Housing and the Colorado Foreclosure Prevention Task Force, the Colorado Division of Housing has compiled the attached information regarding foreclosures in Colorado. During the 2009 legislative session, the legislature passed, and the governor signed, House Bill 1197 which mandates that the foreclosure totals contained in this report be considered the official foreclosure statistics of the state of Colorado. The legislation also required that statistics on cures now be included and that Public Trustees submit the required information to the Division of Housing. These statistics have been collected to provide as accurate a view as possible of foreclosures in Colorado and to determine which regions of the state are most heavily impacted by foreclosures. The data is provided on a county-by-county basis and is based on foreclosure data reported by the Public Trustee’s office of each county. This report seeks to provide two essential pieces of information: Foreclosure Filing Statistics: The recording of the notice of election and demand (NED) is the event that begins the foreclosure process. In general, when a borrower is at least 3 months delinquent and in default, the lender will file an NED with the public trustee and the borrower will receive notice of the initial sale date. This notice will be sent from the public trustee’s office in the county in which the property is located, and at this point, the property is in foreclosure. The Public Trustee filings provide an objective measure of how many foreclosure proceedings have been initiated in a given county. Such filings can be “cured” and “withdrawn” before the property is sold at auction, meaning that not all foreclosure filings result in a final foreclosure sale. However, Public Trustee numbers are a useful indicator of the number of loans in a county that have become seriously delinquent, and they provide insights into the overall health of the real estate market within that county.
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We should note that in addition to single-family homes, condominiums, and townhomes, NED statistics include filings on agricultural, industrial, commercial, and multifamily properties. Vacant land is included as well. Foreclosure Sale Statistics: Approximately 110-125 days after the initial filing, the property may be sold at the Public Trustee auction to a third party or to the mortgage company. Once the foreclosure sale takes place, eviction proceedings will proceed during the next several weeks. As listed below, the foreclosure filings number and the foreclosure auction sales 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. For example, among properties that went to sale during a given quarter, a large portion of those foreclosures were filed at least four months earlier, meaning a foreclosure filing and foreclosure sale do not occur within the same quarter. The period between the foreclosure filing and the foreclosure sale at auction is legally at least 110 days, but in some cases, this period may actually last much longer. Why are both numbers important? The foreclosure filings number provides a view of how many borrowers have become seriously delinquent on their loans. Foreclosure filings provide a good guide to foreclosure activity in a given county, and while a property may be withdrawn from the foreclosure process after a filing is made, the filings statistics nevertheless indicate where borrowers are delinquent and in default. The foreclosure sale numbers generally indicate how many borrowers have lost all equity in the property as the result of it being sold to another party at auction, including the mortgage company, an investor, or others. Many households in the foreclosure process lose their properties through a variety of processes such as short sales and deed-in-lieuof-foreclosure agreements. Losing the property through a foreclosure sale, however, is generally most damaging to the credit of the borrower, and foreclosure (unless the property is sold at auction for more than the value of the loan) does not allow for the borrower to preserve any of the equity he or she might still have in that property. Study Findings During the third quarter of 2013, Colorado public trustees reported 3,745 foreclosure filings and 2,074 sales at auction (completed foreclosures). During the third quarter of 2012, there were 7,076 filings and 4,138 sales. Comparing year-over-year for the third quarter, foreclosure filings fell 47.1 percent and completed foreclosures fell 49.9 percent. Comparing the third quarter of 2013 to the second quarter of 2013, foreclosure filings fell 7.0 percent from 4,025 to 3,745. Foreclosure sales fell 22.0 percent from 2,658 to 2,074 during the same period.
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Comparing totals for the first three quarters of the year combined, foreclosure filings were down 46.1 percent from 2012 to 2013 dropping from 22,894 during 2012 to 12,341 during 2013. Foreclosure sales at auction fell 36.9 percent during the same period, dropping from 12,143 sales during 2012 to 7,667 during 2013. During the third quarter of 2013, foreclosure filings and sales both showed a continued trend of declining foreclosure activity. Below is a time series showing quarterly totals in foreclosure filings and sales. The large dip in sales shown during the second quarter of 2008 can be attributed to a change in the foreclosure time line that took effect on January 1, 2008 and led to a large temporary dip in the number of foreclosure sales during March, April, and May of that year. Graph 1: Quarterly Foreclosure Filings vs. Sales at Auction:
Quarterly foreclosure totals in Colorado
14000
12000
10000
8000
6000
4000
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Filings Sales
2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011q1 2011q2 2011q3 2011q4 2012q1 2012q2 2012q3 2012q4 2013q1 2013q2 2013q3
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Graph 2: Annual Foreclosure Totals:
50000 45000 40000 35000 30000 25000 20000 15000 10000 5000 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 YTD
Annual foreclosure totals
Filings Sales at auction
Note: Annual totals are available since 2003, but quarterly totals are only available since 2007. Table 1: Foreclosure Filings Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Foreclosure Filings 14,858 18,127 22,894 28,435 39,920 39,333 46,394 42,692 31,975 28,579 12,341 (January-September)
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Table 2: Foreclosure Sales at Auction Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 County Statistics Trends in different counties throughout the state vary considerably. The 12 metropolitan counties in Colorado now account for slightly more than 81 percent of all foreclosure filings activity in Colorado. However, in 2007 the 12 metropolitan counties accounted for more than 90 percent of foreclosure activity in Colorado, indicating that foreclosure activity outside the metropolitan areas has become relatively more common. Aggregate statewide totals and trends do not necessarily reflect changes in foreclosure totals at the county level as county-level changes were not uniform throughout the state. The map below shows foreclosure rates in each county. Categories reflect proportions of households completing the foreclosure process. Foreclosure Sales 8,239 10,566 13,642 17,451 25,054 21,306 20,437 23,891 19,617 15,903 7,667 (January-September)
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Map 1: Foreclosure rates in Colorado counties, 3rd Quarter 2013
Foreclosure rates are split into 4 categories: 1. (burgundy) More than 0.5 percent of all households. 2. (green) From .25 up to and including .50 percent of all households. 3. (orange) From 0.1 up to and including 0.25 percent of all households. 4. (yellow) 0.1 percent, or less, of all households.
Rates of foreclosure for each county are listed in Table 3 of the appendix. Statewide, there was approximately 1 completed foreclosure (foreclosure sale) per 982 households for the third quarter of 2013. Note that in the map, for the first time since the Division of Housing began tracking foreclosures, no county reported a foreclosure rate about 0.5 percent. None of the metropolitan counties were found among the counties with the top ten foreclosure rates. Most of the counties in the top ten were mountain counties including Grand, Saguache, San Juan, and Park counties. Pueblo County reported the highest foreclosure rate of the metropolitan counties, with Mesa County reporting the second-highest foreclosure rate among the metro counties. Pueblo reported a foreclosure rate of one foreclosure per 442 households while Mesa County reported a rate of 1 foreclosure per 561 households. See Table 3 for full listing.
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Boulder County reported the lowest foreclosure rate among metropolitan counties with 1 completed foreclosure per 3,853 households. From 2006 through 2008, few mountain counties or Western Slope counties were found among the counties with high foreclosure rates. In recent quarters, however, counties from these parts of the state are common. It is important to note that counties with small populations are also prone to very volatile foreclosure rates as a small rise or fall in the total number of foreclosures can significantly change the foreclosure rate in a small county for a quarter. Future Outlook If current trends continue, the year-end foreclosure totals for Colorado will be similar to what was reported in 2004. This means that 2013 is looking to finish the year at a tenyear low for foreclosures. During 2004, there were approximately 18,000 foreclosure filings and 10,500 sales. At this point there is a well-established downward trend, but this does not guarantee continued declines. However, with home prices on the rise and stable employment, current economic conditions point toward continued declines in foreclosure. Also, new mortgage loan originations continue to be down significantly from 2007 peak levels. With continued declines in the total number of mortgage loans serviced in the state in recent years, the number of potential foreclosures has declined as well. Methods The Colorado Division of Housing has sought to collect foreclosure information on all 64 counties. Data is collected directly from the Public Trustee’s office in each county. Some numbers in this report reflect corrections made to statistics reported in earlier reports. The per-household calculation for each county is based on 2012 (the most recent year available) estimates of occupied households provided by the Colorado State Demographer. The household number is that of “total occupied housing units” in each county. Owneroccupant totals are only available for a minority of Colorado counties, so for purposes of consistency across all counties, occupied housing unit totals are used. The Colorado Division of Housing wishes to acknowledge the invaluable assistance of Carol Snyder, the former Public Trustee of Adams County, Robert Sagel, the Public Trustee of Morgan County, and the Public Trustee Association, although neither Ms. Snyder, Mr. Sagel, nor the Association bear any responsibility for any errors or for the conclusions and analysis contained in this summary.
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Table 3: Foreclosure rates based on the number of occupied housing units per completed foreclosure and percentage of all occupied housing units. 2012 household numbers are the most recent available.
Foreclosure rate by no. of households per completed foreclosure 256 270 307 322 335 337 339 372 379 389 411 412 436 441 442 475 509 521 538 561 593 615 679 683 718 752 765 776 784 788 851 871 895 901 938 979 982
County Grand Sedgwick Saguache Lincoln San Juan Hinsdale Park Moffat Delta Garfield Las Animas Gilpin Bent Archuleta Pueblo Rio Grande Ouray Clear Creek Fremont Mesa San Miguel Teller Montrose Eagle Adams Routt Huerfano Conejos Weld Summit Otero Dolores Rio Blanco Philips Gunnison Arapahoe Lake
2012 household estimates 6,153 1,081 2,763 1,934 335 337 7,110 5,208 12,521 20,637 6,158 2,471 1,744 5,293 63,675 4,746 2,034 4,170 16,680 58,375 3,559 9,841 16,288 19,130 160,058 9,776 3,059 3,105 93,286 11,826 7,663 871 2,686 1,801 6,566 232,959 2,947
2013 3rd Q foreclosure sales 24 4 9 6 1 1 21 14 33 53 15 6 4 12 144 10 4 8 31 104 6 16 24 28 223 13 4 4 119 15 9 1 3 2 7 238 3
Foreclosure rate by percentage 0.39% 0.37% 0.33% 0.31% 0.30% 0.30% 0.30% 0.27% 0.26% 0.26% 0.24% 0.24% 0.23% 0.23% 0.23% 0.21% 0.20% 0.19% 0.19% 0.18% 0.17% 0.16% 0.15% 0.15% 0.14% 0.13% 0.13% 0.13% 0.13% 0.13% 0.12% 0.11% 0.11% 0.11% 0.11% 0.10% 0.10%
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El Paso Logan Morgan Elbert Montezuma Prowers La Plata Crowley Jefferson Broomfield Pitkin Denver Chaffee Baca Douglas Custer Washington Larimer Alamosa Kit Carson Boulder Yuma Cheyenne Costilla Jackson Kiowa Mineral StateTotal
245,223 7,989 10,311 8,454 10,488 4,878 21,546 1,274 223,195 22,351 8,175 278,571 7,696 1,659 106,541 1,915 1,933 124,784 6,074 3,067 123,281 3,944 810 1,582 618 625 353 2,036,183
247 8 10 8 9 4 17 1 173 17 6 183 5 1 64 1 1 63 3 1 32 1 0 0 0 0 0 2,074
0.10% 0.10% 0.10% 0.09% 0.09% 0.08% 0.08% 0.08% 0.08% 0.08% 0.07% 0.07% 0.06% 0.06% 0.06% 0.05% 0.05% 0.05% 0.05% 0.03% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10%
993 999 1031 1057 1165 1220 1267 1274 1290 1315 1363 1522 1539 1659 1665 1915 1933 1981 2025 3067 3853 3944 n/a n/a n/a n/a n/a 982
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Table 4: Cures (Foreclosures cured through the Public Trustee office in each county.)
Counties 2011 4th Q cures 34 1 30 3 0 0 4 20 3 0 0 0 0 0 0 3 40 0 14 3 2 32 2 5 0 3 2 0 2 0 49 0 0 2 1 22 2 0 1 7 0 1 2 2 3 2012 1st Q cures 29 0 41 1 0 0 0 21 0 0 0 0 1 0 1 1 62 0 32 4 3 50 4 7 0 2 2 0 1 0 43 0 1 2 0 32 1 2 1 11 0 0 6 4 2012 2nd Q cures 36 0 51 1 1 0 2 18 2 0 2 2 0 1 0 5 60 0 29 4 4 52 3 6 2 4 0 0 1 0 53 0 0 4 0 27 0 0 2 8 0 1 1 2 2 2012 3rd Q cures 28 0 35 2 0 0 3 15 0 0 1 0 0 0 5 40 1 25 4 1 39 3 6 1 4 1 0 0 0 32 0 0 4 0 30 2 0 2 6 1 4 2 4 2 2012 4th Q cures 29 0 36 3 0 0 3 19 1 0 0 0 0 0 0 3 52 0 19 4 2 35 1 3 2 3 1 0 0 0 23 0 0 6 0 30 0 0 0 7 0 1 6 2 1 2013 1st Q cures 36 0 34 0 0 0 3 17 0 0 0 1 0 1 0 2 49 0 27 9 1 53 3 1 0 0 3 0 2 0 46 0 0 2 0 17 4 1 4 12 0 1 0 4 3 2013 2nd Q cures 23 0 30 1 0 1 2 18 0 0 0 1 0 0 0 4 41 0 13 6 1 37 2 7 0 2 0 0 0 0 41 0 1 2 0 15 0 0 1 13 0 0 1 3 2 2013 3rd Q cures 31 0 48 0 0 0 1 14 4 0 0 0 0 0 1 28 0 16 4 2 32 3 3 1 2 1 0 2 0 30 1 0 3 0 16 2 0 1 11 0 0 0 2 1
Adams Alamosa Arapahoe Archuleta Baca Bent Broomfield Boulder Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield* Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma Montrose Morgan
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Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
0 0 0 0 4 0 15 0 0 6 0 0 5 0 7 2 0 15 0 349
0 0 0 1 0 19 1 1 0 0 0 1 0 8 1 0 22 1 420
3 0 1 0 3 0 14 1 1 0 0 0 0 0 6 5 0 2 1 423
1 0 4 0 2 0 17 2 1 3 0 2 1 0 2 1 0 22 1 362
0 0 2 0 1 0 10 0 0 0 0 0 2 0 2 5 1 19 2 336
0 0 3 0 0 0 13 0 0 0 0 0 0 0 4 1 0 18 0 375
1 0 3 0 2 0 18 2 0 2 0 0 2 0 4 1 0 14 3 320
0 0 0 0 4 0 4 0 0 0 0 0 1 0 2 1 1 13 1 287
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Table 5: Percent change in year-over-year foreclosure filings and sales:
2012 3rdQ Filings 803 37 896 33 1 1 214 50 11 1 11 5 6 4 8 74 733 1 369 109 39 925 68 144 20 40 22 2 16 1 658 0 4 48 18 236 24 7 23 288 2 27 25 56 2013 3rdQ Filings 416 6 424 14 3 2 97 15 5 0 11 0 3 3 2 39 448 1 166 53 26 458 45 55 7 14 18 1 7 0 304 1 5 33 4 139 13 3 14 207 0 9 16 42 2012 3rdQ Sales 460 3 494 21 1 8 94 23 5 0 10 0 0 2 4 30 414 1 165 61 40 448 56 74 7 31 25 0 12 2 350 0 5 34 8 149 14 5 11 224 0 17 17 58 2013 3rdQ Sales 223 3 238 12 1 4 32 17 5 0 8 4 0 1 1 33 183 1 64 28 8 247 31 53 6 24 7 1 4 0 173 0 1 17 3 63 15 6 8 104 0 14 9 24
Counties Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma Montrose
YOY change -48.2 -83.8 -52.7 -57.6 200.0 100.0 -54.7 -70.0 -54.5 -100.0 0.0 -100.0 -50.0 -25.0 -75.0 -47.3 -38.9 0.0 -55.0 -51.4 -33.3 -50.5 -33.8 -61.8 -65.0 -65.0 -18.2 -50.0 -56.3 -100.0 -53.8 n/a 25.0 -31.3 -77.8 -41.1 -45.8 -57.1 -39.1 -28.1 -100.0 -66.7 -36.0 -25.0
YOY change -51.5 0.0 -51.8 -42.9 0.0 -50.0 -66.0 -26.1 0.0 n/a -20.0 n/a n/a -50.0 -75.0 10.0 -55.8 0.0 -61.2 -54.1 -80.0 -44.9 -44.6 -28.4 -14.3 -22.6 -72.0 n/a -66.7 -100.0 -50.6 n/a -80.0 -50.0 -62.5 -57.7 7.1 20.0 -27.3 -53.6 n/a -17.6 -47.1 -58.6
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Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
30 23 12 54 2 23 3 282 12 9 63 7 1 19 0 42 44 4 376 10 7,076
20 13 4 29 0 7 1 203 5 10 39 2 0 6 2 22 36 2 214 1 3,745
-33.3 -43.5 -66.7 -46.3 -100.0 -69.6 -66.7 -28.0 -58.3 11.1 -38.1 -71.4 -100.0 -68.4 n/a -47.6 -18.2 -50.0 -43.1 -90.0 -47.1
17 17 6 42 2 14 2 221 6 8 28 10 0 12 1 89 35 3 237 5 4,138
10 9 4 21 2 6 4 144 3 10 13 9 1 6 4 15 16 1 119 1 2,074
-41.2 -47.1 -33.3 -50.0 0.0 -57.1 100.0 -34.8 -50.0 25.0 -53.6 -10.0 n/a -50.0 300.0 -83.1 -54.3 -66.7 -49.8 -80.0 -49.9
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Table 6: Percent change from 2nd Q 2013 to 3rd Q 2013:
Counties 2013 2nd Q Filings 472 6 503 17 2 9 111 28 12 0 13 2 4 4 5 34 377 1 198 44 16 500 39 80 12 16 17 1 6 0 354 1 2 43 4 136 13 3 12 198 0 15 17 2013 3rd Q Filings 416 6 424 14 3 2 97 15 5 0 11 0 3 3 2 39 448 1 166 53 26 458 45 55 7 14 18 1 7 0 304 1 5 33 4 139 13 3 14 207 0 9 16 n/a -40.0 -5.9 n/a -14.1 0.0 150.0 -23.3 0.0 2.2 0.0 0.0 16.7 4.5 n/a -15.4 -100.0 -25.0 -25.0 -60.0 14.7 18.8 0.0 -16.2 20.5 62.5 -8.4 15.4 -31.3 -41.7 -12.5 5.9 0.0 16.7 Percent Change -11.9 0.0 -15.7 -17.6 50.0 -77.8 -12.6 -46.4 -58.3 2013 2nd Q Sales 292 3 291 14 0 4 71 11 10 1 9 3 0 5 2 32 215 1 90 32 16 362 55 45 4 11 19 1 13 0 206 0 2 15 7 68 23 6 10 168 0 12 9 2013 3rd Q Sales 223 3 238 12 1 4 32 17 5 0 8 4 0 1 1 33 183 1 64 28 8 247 31 53 6 24 7 1 4 0 173 0 1 17 3 63 15 6 8 104 0 14 9 n/a 16.7 0.0 n/a -16.0 n/a -50.0 13.3 -57.1 -7.4 -34.8 0.0 -20.0 -38.1 n/a -80.0 -50.0 3.1 -14.9 0.0 -28.9 -12.5 -50.0 -31.8 -43.6 17.8 50.0 118.2 -63.2 0.0 -69.2 n/a 0.0 -54.9 54.5 -50.0 -100.0 -11.1 33.3 Percent Change -23.6 0.0 -18.2 -14.3
Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma
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Montrose Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
49 17 11 7 25 2 15 6 199 8 12 27 4 1 9 6 36 28 3 230 3 4,025
42 20 13 4 29 0 7 1 203 5 10 39 2 0 6 2 22 36 2 214 1 3,745
-14.3 17.6 18.2 -42.9 16.0 -100.0 -53.3 -83.3 2.0 -37.5 -16.7 44.4 -50.0 -100.0 -33.3 -66.7 -38.9 28.6 -33.3 -7.0 -66.7 -7.0
30 13 12 3 18 2 6 6 155 2 9 21 5 4 7 0 35 22 2 163 5 2,658
24 10 9 4 21 2 6 4 144 3 10 13 9 1 6 4 15 16 1 119 1 2,074 n/a
-20.0 -23.1 -25.0 33.3 16.7 0.0 0.0 -33.3 -7.1 50.0 11.1 -38.1 80.0 -75.0 -14.3 -57.1 -27.3 -50.0 -27.0 -80.0 -22.0
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Table 7: Foreclosure totals for the first three quarters of each year, compared. (Q1+Q2+Q3):
Counties 1stQ+2nd+3rd Q 2012 Filings 1stQ+2nd+3rd Q 2013 Filings YOY Change 1stQ+2nd+3rd Q 2012 Sales 1stQ+2nd+3rd Q 2013 Sales YOY Change
Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma
2518 58 2896 99 5 18 642 173 39 4 38 16 18 13 25 188 2476 9 1253 375 160 2702 219 468 46 138 102 2 41 4 2127 0 19 172 35 857 78 18 46 974 4 81 91
1364 22 1451 46 5 13 332 84 23 0 41 12 12 15 8 106 1305 3 584 166 70 1507 159 229 26 58 52 3 25 0 1087 2 11 106 20 457 58 8 37 587 0 50 53
-45.8 -62.1 -49.9 -53.5 0.0 -27.8 -48.3 -51.4 -41.0 -100.0 7.9 -25.0 -33.3 15.4 -68.0 -43.6 -47.3 -66.7 -53.4 -55.7 -56.3 -44.2 -27.4 -51.1 -43.5 -58.0 -49.0 50.0 -39.0 -100.0 -48.9 n/a -42.1 -38.4 -42.9 -46.7 -25.6 -55.6 -19.6 -39.7 -100.0 -38.3 -41.8
1352 20 1425 61 3 14 276 70 21 0 39 4 1 7 11 113 1187 3 525 256 88 1325 160 275 21 95 72 0 26 3 1031 1 16 100 27 429 63 14 26 645 0 55 69
791 14 852 48 3 10 171 46 21 2 23 10 0 8 11 105 637 3 278 112 41 1021 132 159 22 56 38 3 24 0 598 0 6 58 17 254 57 17 31 433 0 32 36 n/a
-41.5 -30.0 -40.2 -21.3 0.0 -28.6 -38.0 -34.3 0.0 -41.0 150.0 -100.0 14.3 0.0 -7.1 -46.3 0.0 -47.0 -56.3 -53.4 -22.9 -17.5 -42.2 4.8 -41.1 -47.2 n/a -7.7 -100.0 -42.0 -100.0 -62.5 -42.0 -37.0 -40.8 -9.5 21.4 19.2 -32.9 n/a -41.8 -47.8
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Montrose Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
213 96 70 37 176 8 80 17 901 34 41 193 23 4 70 3 216 174 7 1263 21 22,894
143 58 47 13 90 7 41 18 603 17 33 104 13 2 30 9 104 87 9 705 11 12,341
-32.9 -39.6 -32.9 -64.9 -48.9 -12.5 -48.8 5.9 -33.1 -50.0 -19.5 -46.1 -43.5 -50.0 -57.1 200.0 -51.9 -50.0 28.6 -44.2 -47.6 -46.1
151 52 52 19 113 7 34 10 607 16 21 86 17 5 36 6 144 111 5 713 9 12,143
93 36 33 12 62 5 28 13 455 11 26 64 17 6 23 5 75 56 7 451 9 7,667
-38.4 -30.8 -36.5 -36.8 -45.1 -28.6 -17.6 30.0 -25.0 -31.3 23.8 -25.6 0.0 20.0 -36.1 -16.7 -47.9 -49.5 40.0 -36.7 0.0 -36.9
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Table 8: Foreclosure totals in each county for past 5 quarters:
Counties 2012 3rd Q Filings 803 37 896 33 1 1 214 50 11 1 11 5 6 4 8 74 733 1 369 109 39 925 68 144 20 40 22 2 16 1 658 0 4 48 18 2012 4th Q Filings 664 12 693 26 4 3 147 37 14 0 13 2 0 4 7 56 588 1 281 80 38 652 76 98 10 30 35 0 11 1 523 0 4 40 6 2013 1st Q Filings 476 10 524 15 0 2 124 41 6 0 17 10 5 8 1 33 480 1 220 69 28 549 75 94 7 28 17 1 12 0 429 0 4 30 12 2013 2ndQ Filings 472 6 503 17 2 9 111 28 12 0 13 2 4 4 5 34 377 1 198 44 16 500 39 80 12 16 17 1 6 0 354 1 2 43 4 2013 3rd Q Filings 416 6 424 14 3 2 97 15 5 0 11 0 3 3 2 39 448 1 166 53 26 458 45 55 7 14 18 1 7 0 304 1 5 33 4 2012 3rd Q Sales 460 3 494 21 1 8 94 23 5 0 10 0 0 2 4 30 414 1 165 61 40 448 56 74 7 31 25 0 12 2 350 0 5 34 8 2012 4th Q Sales 430 5 402 17 1 2 96 26 3 1 5 1 0 3 4 38 418 1 166 48 14 498 53 75 9 28 15 0 8 0 304 0 3 26 12 2013 1st Q Sales 276 8 323 22 2 2 68 18 6 1 6 3 0 2 8 40 239 1 124 52 17 412 46 61 12 21 12 1 7 0 219 0 3 26 7 2013 2nd Q Sales 292 3 291 14 0 4 71 11 10 1 9 3 0 5 2 32 215 1 90 32 16 362 55 45 4 11 19 1 13 0 206 0 2 15 7 2013 3rd Q Sales 223 3 238 12 1 4 32 17 5 0 8 4 0 1 1 33 183 1 64 28 8 247 31 53 6 24 7 1 4 0 173 0 1 17 3
Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake
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Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma Montrose Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
236 24 7 23 288 2 27 25 56 30 23 12 54 2 23 3 282 12 9 63 7 1 19 0 42 44 4 376 10 7,076
221 18 3 13 272 0 12 22 58 27 23 2 31 0 33 6 281 5 14 37 5 1 19 1 48 49 4 313 11 5,685
182 32 2 11 182 0 26 20 52 21 23 2 36 5 19 11 201 4 11 38 7 1 15 1 46 23 4 261 7 4,571
136 13 3 12 198 0 15 17 49 17 11 7 25 2 15 6 199 8 12 27 4 1 9 6 36 28 3 230 3 4,025
139 13 3 14 207 0 9 16 42 20 13 4 29 0 7 1 203 5 10 39 2 0 6 2 22 36 2 214 1 3,745
149 14 5 11 224 0 17 17 58 17 17 6 42 2 14 2 221 6 8 28 10 0 12 1 89 35 3 237 5 4,138
130 11 3 7 202 0 16 21 35 14 17 4 37 1 10 5 172 12 10 36 2 1 11 0 25 33 1 225 7 3,760
123 19 5 13 161 0 6 18 39 13 12 5 23 1 16 3 156 6 7 30 3 1 10 1 25 18 4 169 3 2,935
68 23 6 10 168 0 12 9 30 13 12 3 18 2 6 6 155 2 9 21 5 4 7 0 35 22 2 163 5 2,658
63 15 6 8 104 0 14 9 24 10 9 4 21 2 6 4 144 3 10 13 9 1 6 4 15 16 1 119 1 2,074
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The Colorado Division of Housing is a division of the Colorado Department of Local Affairs
November 13, 2013 Summary and Methods In response to recommendations from the Colorado Blue Ribbon Panel on Housing and the Colorado Foreclosure Prevention Task Force, the Colorado Division of Housing has compiled the attached information regarding foreclosures in Colorado. During the 2009 legislative session, the legislature passed, and the governor signed, House Bill 1197 which mandates that the foreclosure totals contained in this report be considered the official foreclosure statistics of the state of Colorado. The legislation also required that statistics on cures now be included and that Public Trustees submit the required information to the Division of Housing. These statistics have been collected to provide as accurate a view as possible of foreclosures in Colorado and to determine which regions of the state are most heavily impacted by foreclosures. The data is provided on a county-by-county basis and is based on foreclosure data reported by the Public Trustee’s office of each county. This report seeks to provide two essential pieces of information: Foreclosure Filing Statistics: The recording of the notice of election and demand (NED) is the event that begins the foreclosure process. In general, when a borrower is at least 3 months delinquent and in default, the lender will file an NED with the public trustee and the borrower will receive notice of the initial sale date. This notice will be sent from the public trustee’s office in the county in which the property is located, and at this point, the property is in foreclosure. The Public Trustee filings provide an objective measure of how many foreclosure proceedings have been initiated in a given county. Such filings can be “cured” and “withdrawn” before the property is sold at auction, meaning that not all foreclosure filings result in a final foreclosure sale. However, Public Trustee numbers are a useful indicator of the number of loans in a county that have become seriously delinquent, and they provide insights into the overall health of the real estate market within that county.
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We should note that in addition to single-family homes, condominiums, and townhomes, NED statistics include filings on agricultural, industrial, commercial, and multifamily properties. Vacant land is included as well. Foreclosure Sale Statistics: Approximately 110-125 days after the initial filing, the property may be sold at the Public Trustee auction to a third party or to the mortgage company. Once the foreclosure sale takes place, eviction proceedings will proceed during the next several weeks. As listed below, the foreclosure filings number and the foreclosure auction sales 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. For example, among properties that went to sale during a given quarter, a large portion of those foreclosures were filed at least four months earlier, meaning a foreclosure filing and foreclosure sale do not occur within the same quarter. The period between the foreclosure filing and the foreclosure sale at auction is legally at least 110 days, but in some cases, this period may actually last much longer. Why are both numbers important? The foreclosure filings number provides a view of how many borrowers have become seriously delinquent on their loans. Foreclosure filings provide a good guide to foreclosure activity in a given county, and while a property may be withdrawn from the foreclosure process after a filing is made, the filings statistics nevertheless indicate where borrowers are delinquent and in default. The foreclosure sale numbers generally indicate how many borrowers have lost all equity in the property as the result of it being sold to another party at auction, including the mortgage company, an investor, or others. Many households in the foreclosure process lose their properties through a variety of processes such as short sales and deed-in-lieuof-foreclosure agreements. Losing the property through a foreclosure sale, however, is generally most damaging to the credit of the borrower, and foreclosure (unless the property is sold at auction for more than the value of the loan) does not allow for the borrower to preserve any of the equity he or she might still have in that property. Study Findings During the third quarter of 2013, Colorado public trustees reported 3,745 foreclosure filings and 2,074 sales at auction (completed foreclosures). During the third quarter of 2012, there were 7,076 filings and 4,138 sales. Comparing year-over-year for the third quarter, foreclosure filings fell 47.1 percent and completed foreclosures fell 49.9 percent. Comparing the third quarter of 2013 to the second quarter of 2013, foreclosure filings fell 7.0 percent from 4,025 to 3,745. Foreclosure sales fell 22.0 percent from 2,658 to 2,074 during the same period.
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Comparing totals for the first three quarters of the year combined, foreclosure filings were down 46.1 percent from 2012 to 2013 dropping from 22,894 during 2012 to 12,341 during 2013. Foreclosure sales at auction fell 36.9 percent during the same period, dropping from 12,143 sales during 2012 to 7,667 during 2013. During the third quarter of 2013, foreclosure filings and sales both showed a continued trend of declining foreclosure activity. Below is a time series showing quarterly totals in foreclosure filings and sales. The large dip in sales shown during the second quarter of 2008 can be attributed to a change in the foreclosure time line that took effect on January 1, 2008 and led to a large temporary dip in the number of foreclosure sales during March, April, and May of that year. Graph 1: Quarterly Foreclosure Filings vs. Sales at Auction:
Quarterly foreclosure totals in Colorado
14000
12000
10000
8000
6000
4000
2000
Filings Sales
2007Q1 2007Q2 2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2 2009Q3 2009Q4 2010Q1 2010Q2 2010Q3 2010Q4 2011q1 2011q2 2011q3 2011q4 2012q1 2012q2 2012q3 2012q4 2013q1 2013q2 2013q3
0
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Graph 2: Annual Foreclosure Totals:
50000 45000 40000 35000 30000 25000 20000 15000 10000 5000 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 YTD
Annual foreclosure totals
Filings Sales at auction
Note: Annual totals are available since 2003, but quarterly totals are only available since 2007. Table 1: Foreclosure Filings Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Foreclosure Filings 14,858 18,127 22,894 28,435 39,920 39,333 46,394 42,692 31,975 28,579 12,341 (January-September)
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Table 2: Foreclosure Sales at Auction Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 County Statistics Trends in different counties throughout the state vary considerably. The 12 metropolitan counties in Colorado now account for slightly more than 81 percent of all foreclosure filings activity in Colorado. However, in 2007 the 12 metropolitan counties accounted for more than 90 percent of foreclosure activity in Colorado, indicating that foreclosure activity outside the metropolitan areas has become relatively more common. Aggregate statewide totals and trends do not necessarily reflect changes in foreclosure totals at the county level as county-level changes were not uniform throughout the state. The map below shows foreclosure rates in each county. Categories reflect proportions of households completing the foreclosure process. Foreclosure Sales 8,239 10,566 13,642 17,451 25,054 21,306 20,437 23,891 19,617 15,903 7,667 (January-September)
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Map 1: Foreclosure rates in Colorado counties, 3rd Quarter 2013
Foreclosure rates are split into 4 categories: 1. (burgundy) More than 0.5 percent of all households. 2. (green) From .25 up to and including .50 percent of all households. 3. (orange) From 0.1 up to and including 0.25 percent of all households. 4. (yellow) 0.1 percent, or less, of all households.
Rates of foreclosure for each county are listed in Table 3 of the appendix. Statewide, there was approximately 1 completed foreclosure (foreclosure sale) per 982 households for the third quarter of 2013. Note that in the map, for the first time since the Division of Housing began tracking foreclosures, no county reported a foreclosure rate about 0.5 percent. None of the metropolitan counties were found among the counties with the top ten foreclosure rates. Most of the counties in the top ten were mountain counties including Grand, Saguache, San Juan, and Park counties. Pueblo County reported the highest foreclosure rate of the metropolitan counties, with Mesa County reporting the second-highest foreclosure rate among the metro counties. Pueblo reported a foreclosure rate of one foreclosure per 442 households while Mesa County reported a rate of 1 foreclosure per 561 households. See Table 3 for full listing.
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Boulder County reported the lowest foreclosure rate among metropolitan counties with 1 completed foreclosure per 3,853 households. From 2006 through 2008, few mountain counties or Western Slope counties were found among the counties with high foreclosure rates. In recent quarters, however, counties from these parts of the state are common. It is important to note that counties with small populations are also prone to very volatile foreclosure rates as a small rise or fall in the total number of foreclosures can significantly change the foreclosure rate in a small county for a quarter. Future Outlook If current trends continue, the year-end foreclosure totals for Colorado will be similar to what was reported in 2004. This means that 2013 is looking to finish the year at a tenyear low for foreclosures. During 2004, there were approximately 18,000 foreclosure filings and 10,500 sales. At this point there is a well-established downward trend, but this does not guarantee continued declines. However, with home prices on the rise and stable employment, current economic conditions point toward continued declines in foreclosure. Also, new mortgage loan originations continue to be down significantly from 2007 peak levels. With continued declines in the total number of mortgage loans serviced in the state in recent years, the number of potential foreclosures has declined as well. Methods The Colorado Division of Housing has sought to collect foreclosure information on all 64 counties. Data is collected directly from the Public Trustee’s office in each county. Some numbers in this report reflect corrections made to statistics reported in earlier reports. The per-household calculation for each county is based on 2012 (the most recent year available) estimates of occupied households provided by the Colorado State Demographer. The household number is that of “total occupied housing units” in each county. Owneroccupant totals are only available for a minority of Colorado counties, so for purposes of consistency across all counties, occupied housing unit totals are used. The Colorado Division of Housing wishes to acknowledge the invaluable assistance of Carol Snyder, the former Public Trustee of Adams County, Robert Sagel, the Public Trustee of Morgan County, and the Public Trustee Association, although neither Ms. Snyder, Mr. Sagel, nor the Association bear any responsibility for any errors or for the conclusions and analysis contained in this summary.
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Table 3: Foreclosure rates based on the number of occupied housing units per completed foreclosure and percentage of all occupied housing units. 2012 household numbers are the most recent available.
Foreclosure rate by no. of households per completed foreclosure 256 270 307 322 335 337 339 372 379 389 411 412 436 441 442 475 509 521 538 561 593 615 679 683 718 752 765 776 784 788 851 871 895 901 938 979 982
County Grand Sedgwick Saguache Lincoln San Juan Hinsdale Park Moffat Delta Garfield Las Animas Gilpin Bent Archuleta Pueblo Rio Grande Ouray Clear Creek Fremont Mesa San Miguel Teller Montrose Eagle Adams Routt Huerfano Conejos Weld Summit Otero Dolores Rio Blanco Philips Gunnison Arapahoe Lake
2012 household estimates 6,153 1,081 2,763 1,934 335 337 7,110 5,208 12,521 20,637 6,158 2,471 1,744 5,293 63,675 4,746 2,034 4,170 16,680 58,375 3,559 9,841 16,288 19,130 160,058 9,776 3,059 3,105 93,286 11,826 7,663 871 2,686 1,801 6,566 232,959 2,947
2013 3rd Q foreclosure sales 24 4 9 6 1 1 21 14 33 53 15 6 4 12 144 10 4 8 31 104 6 16 24 28 223 13 4 4 119 15 9 1 3 2 7 238 3
Foreclosure rate by percentage 0.39% 0.37% 0.33% 0.31% 0.30% 0.30% 0.30% 0.27% 0.26% 0.26% 0.24% 0.24% 0.23% 0.23% 0.23% 0.21% 0.20% 0.19% 0.19% 0.18% 0.17% 0.16% 0.15% 0.15% 0.14% 0.13% 0.13% 0.13% 0.13% 0.13% 0.12% 0.11% 0.11% 0.11% 0.11% 0.10% 0.10%
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El Paso Logan Morgan Elbert Montezuma Prowers La Plata Crowley Jefferson Broomfield Pitkin Denver Chaffee Baca Douglas Custer Washington Larimer Alamosa Kit Carson Boulder Yuma Cheyenne Costilla Jackson Kiowa Mineral StateTotal
245,223 7,989 10,311 8,454 10,488 4,878 21,546 1,274 223,195 22,351 8,175 278,571 7,696 1,659 106,541 1,915 1,933 124,784 6,074 3,067 123,281 3,944 810 1,582 618 625 353 2,036,183
247 8 10 8 9 4 17 1 173 17 6 183 5 1 64 1 1 63 3 1 32 1 0 0 0 0 0 2,074
0.10% 0.10% 0.10% 0.09% 0.09% 0.08% 0.08% 0.08% 0.08% 0.08% 0.07% 0.07% 0.06% 0.06% 0.06% 0.05% 0.05% 0.05% 0.05% 0.03% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10%
993 999 1031 1057 1165 1220 1267 1274 1290 1315 1363 1522 1539 1659 1665 1915 1933 1981 2025 3067 3853 3944 n/a n/a n/a n/a n/a 982
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Table 4: Cures (Foreclosures cured through the Public Trustee office in each county.)
Counties 2011 4th Q cures 34 1 30 3 0 0 4 20 3 0 0 0 0 0 0 3 40 0 14 3 2 32 2 5 0 3 2 0 2 0 49 0 0 2 1 22 2 0 1 7 0 1 2 2 3 2012 1st Q cures 29 0 41 1 0 0 0 21 0 0 0 0 1 0 1 1 62 0 32 4 3 50 4 7 0 2 2 0 1 0 43 0 1 2 0 32 1 2 1 11 0 0 6 4 2012 2nd Q cures 36 0 51 1 1 0 2 18 2 0 2 2 0 1 0 5 60 0 29 4 4 52 3 6 2 4 0 0 1 0 53 0 0 4 0 27 0 0 2 8 0 1 1 2 2 2012 3rd Q cures 28 0 35 2 0 0 3 15 0 0 1 0 0 0 5 40 1 25 4 1 39 3 6 1 4 1 0 0 0 32 0 0 4 0 30 2 0 2 6 1 4 2 4 2 2012 4th Q cures 29 0 36 3 0 0 3 19 1 0 0 0 0 0 0 3 52 0 19 4 2 35 1 3 2 3 1 0 0 0 23 0 0 6 0 30 0 0 0 7 0 1 6 2 1 2013 1st Q cures 36 0 34 0 0 0 3 17 0 0 0 1 0 1 0 2 49 0 27 9 1 53 3 1 0 0 3 0 2 0 46 0 0 2 0 17 4 1 4 12 0 1 0 4 3 2013 2nd Q cures 23 0 30 1 0 1 2 18 0 0 0 1 0 0 0 4 41 0 13 6 1 37 2 7 0 2 0 0 0 0 41 0 1 2 0 15 0 0 1 13 0 0 1 3 2 2013 3rd Q cures 31 0 48 0 0 0 1 14 4 0 0 0 0 0 1 28 0 16 4 2 32 3 3 1 2 1 0 2 0 30 1 0 3 0 16 2 0 1 11 0 0 0 2 1
Adams Alamosa Arapahoe Archuleta Baca Bent Broomfield Boulder Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield* Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma Montrose Morgan
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Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
0 0 0 0 4 0 15 0 0 6 0 0 5 0 7 2 0 15 0 349
0 0 0 1 0 19 1 1 0 0 0 1 0 8 1 0 22 1 420
3 0 1 0 3 0 14 1 1 0 0 0 0 0 6 5 0 2 1 423
1 0 4 0 2 0 17 2 1 3 0 2 1 0 2 1 0 22 1 362
0 0 2 0 1 0 10 0 0 0 0 0 2 0 2 5 1 19 2 336
0 0 3 0 0 0 13 0 0 0 0 0 0 0 4 1 0 18 0 375
1 0 3 0 2 0 18 2 0 2 0 0 2 0 4 1 0 14 3 320
0 0 0 0 4 0 4 0 0 0 0 0 1 0 2 1 1 13 1 287
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Table 5: Percent change in year-over-year foreclosure filings and sales:
2012 3rdQ Filings 803 37 896 33 1 1 214 50 11 1 11 5 6 4 8 74 733 1 369 109 39 925 68 144 20 40 22 2 16 1 658 0 4 48 18 236 24 7 23 288 2 27 25 56 2013 3rdQ Filings 416 6 424 14 3 2 97 15 5 0 11 0 3 3 2 39 448 1 166 53 26 458 45 55 7 14 18 1 7 0 304 1 5 33 4 139 13 3 14 207 0 9 16 42 2012 3rdQ Sales 460 3 494 21 1 8 94 23 5 0 10 0 0 2 4 30 414 1 165 61 40 448 56 74 7 31 25 0 12 2 350 0 5 34 8 149 14 5 11 224 0 17 17 58 2013 3rdQ Sales 223 3 238 12 1 4 32 17 5 0 8 4 0 1 1 33 183 1 64 28 8 247 31 53 6 24 7 1 4 0 173 0 1 17 3 63 15 6 8 104 0 14 9 24
Counties Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma Montrose
YOY change -48.2 -83.8 -52.7 -57.6 200.0 100.0 -54.7 -70.0 -54.5 -100.0 0.0 -100.0 -50.0 -25.0 -75.0 -47.3 -38.9 0.0 -55.0 -51.4 -33.3 -50.5 -33.8 -61.8 -65.0 -65.0 -18.2 -50.0 -56.3 -100.0 -53.8 n/a 25.0 -31.3 -77.8 -41.1 -45.8 -57.1 -39.1 -28.1 -100.0 -66.7 -36.0 -25.0
YOY change -51.5 0.0 -51.8 -42.9 0.0 -50.0 -66.0 -26.1 0.0 n/a -20.0 n/a n/a -50.0 -75.0 10.0 -55.8 0.0 -61.2 -54.1 -80.0 -44.9 -44.6 -28.4 -14.3 -22.6 -72.0 n/a -66.7 -100.0 -50.6 n/a -80.0 -50.0 -62.5 -57.7 7.1 20.0 -27.3 -53.6 n/a -17.6 -47.1 -58.6
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Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
30 23 12 54 2 23 3 282 12 9 63 7 1 19 0 42 44 4 376 10 7,076
20 13 4 29 0 7 1 203 5 10 39 2 0 6 2 22 36 2 214 1 3,745
-33.3 -43.5 -66.7 -46.3 -100.0 -69.6 -66.7 -28.0 -58.3 11.1 -38.1 -71.4 -100.0 -68.4 n/a -47.6 -18.2 -50.0 -43.1 -90.0 -47.1
17 17 6 42 2 14 2 221 6 8 28 10 0 12 1 89 35 3 237 5 4,138
10 9 4 21 2 6 4 144 3 10 13 9 1 6 4 15 16 1 119 1 2,074
-41.2 -47.1 -33.3 -50.0 0.0 -57.1 100.0 -34.8 -50.0 25.0 -53.6 -10.0 n/a -50.0 300.0 -83.1 -54.3 -66.7 -49.8 -80.0 -49.9
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Table 6: Percent change from 2nd Q 2013 to 3rd Q 2013:
Counties 2013 2nd Q Filings 472 6 503 17 2 9 111 28 12 0 13 2 4 4 5 34 377 1 198 44 16 500 39 80 12 16 17 1 6 0 354 1 2 43 4 136 13 3 12 198 0 15 17 2013 3rd Q Filings 416 6 424 14 3 2 97 15 5 0 11 0 3 3 2 39 448 1 166 53 26 458 45 55 7 14 18 1 7 0 304 1 5 33 4 139 13 3 14 207 0 9 16 n/a -40.0 -5.9 n/a -14.1 0.0 150.0 -23.3 0.0 2.2 0.0 0.0 16.7 4.5 n/a -15.4 -100.0 -25.0 -25.0 -60.0 14.7 18.8 0.0 -16.2 20.5 62.5 -8.4 15.4 -31.3 -41.7 -12.5 5.9 0.0 16.7 Percent Change -11.9 0.0 -15.7 -17.6 50.0 -77.8 -12.6 -46.4 -58.3 2013 2nd Q Sales 292 3 291 14 0 4 71 11 10 1 9 3 0 5 2 32 215 1 90 32 16 362 55 45 4 11 19 1 13 0 206 0 2 15 7 68 23 6 10 168 0 12 9 2013 3rd Q Sales 223 3 238 12 1 4 32 17 5 0 8 4 0 1 1 33 183 1 64 28 8 247 31 53 6 24 7 1 4 0 173 0 1 17 3 63 15 6 8 104 0 14 9 n/a 16.7 0.0 n/a -16.0 n/a -50.0 13.3 -57.1 -7.4 -34.8 0.0 -20.0 -38.1 n/a -80.0 -50.0 3.1 -14.9 0.0 -28.9 -12.5 -50.0 -31.8 -43.6 17.8 50.0 118.2 -63.2 0.0 -69.2 n/a 0.0 -54.9 54.5 -50.0 -100.0 -11.1 33.3 Percent Change -23.6 0.0 -18.2 -14.3
Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma
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Montrose Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
49 17 11 7 25 2 15 6 199 8 12 27 4 1 9 6 36 28 3 230 3 4,025
42 20 13 4 29 0 7 1 203 5 10 39 2 0 6 2 22 36 2 214 1 3,745
-14.3 17.6 18.2 -42.9 16.0 -100.0 -53.3 -83.3 2.0 -37.5 -16.7 44.4 -50.0 -100.0 -33.3 -66.7 -38.9 28.6 -33.3 -7.0 -66.7 -7.0
30 13 12 3 18 2 6 6 155 2 9 21 5 4 7 0 35 22 2 163 5 2,658
24 10 9 4 21 2 6 4 144 3 10 13 9 1 6 4 15 16 1 119 1 2,074 n/a
-20.0 -23.1 -25.0 33.3 16.7 0.0 0.0 -33.3 -7.1 50.0 11.1 -38.1 80.0 -75.0 -14.3 -57.1 -27.3 -50.0 -27.0 -80.0 -22.0
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Table 7: Foreclosure totals for the first three quarters of each year, compared. (Q1+Q2+Q3):
Counties 1stQ+2nd+3rd Q 2012 Filings 1stQ+2nd+3rd Q 2013 Filings YOY Change 1stQ+2nd+3rd Q 2012 Sales 1stQ+2nd+3rd Q 2013 Sales YOY Change
Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma
2518 58 2896 99 5 18 642 173 39 4 38 16 18 13 25 188 2476 9 1253 375 160 2702 219 468 46 138 102 2 41 4 2127 0 19 172 35 857 78 18 46 974 4 81 91
1364 22 1451 46 5 13 332 84 23 0 41 12 12 15 8 106 1305 3 584 166 70 1507 159 229 26 58 52 3 25 0 1087 2 11 106 20 457 58 8 37 587 0 50 53
-45.8 -62.1 -49.9 -53.5 0.0 -27.8 -48.3 -51.4 -41.0 -100.0 7.9 -25.0 -33.3 15.4 -68.0 -43.6 -47.3 -66.7 -53.4 -55.7 -56.3 -44.2 -27.4 -51.1 -43.5 -58.0 -49.0 50.0 -39.0 -100.0 -48.9 n/a -42.1 -38.4 -42.9 -46.7 -25.6 -55.6 -19.6 -39.7 -100.0 -38.3 -41.8
1352 20 1425 61 3 14 276 70 21 0 39 4 1 7 11 113 1187 3 525 256 88 1325 160 275 21 95 72 0 26 3 1031 1 16 100 27 429 63 14 26 645 0 55 69
791 14 852 48 3 10 171 46 21 2 23 10 0 8 11 105 637 3 278 112 41 1021 132 159 22 56 38 3 24 0 598 0 6 58 17 254 57 17 31 433 0 32 36 n/a
-41.5 -30.0 -40.2 -21.3 0.0 -28.6 -38.0 -34.3 0.0 -41.0 150.0 -100.0 14.3 0.0 -7.1 -46.3 0.0 -47.0 -56.3 -53.4 -22.9 -17.5 -42.2 4.8 -41.1 -47.2 n/a -7.7 -100.0 -42.0 -100.0 -62.5 -42.0 -37.0 -40.8 -9.5 21.4 19.2 -32.9 n/a -41.8 -47.8
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Montrose Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
213 96 70 37 176 8 80 17 901 34 41 193 23 4 70 3 216 174 7 1263 21 22,894
143 58 47 13 90 7 41 18 603 17 33 104 13 2 30 9 104 87 9 705 11 12,341
-32.9 -39.6 -32.9 -64.9 -48.9 -12.5 -48.8 5.9 -33.1 -50.0 -19.5 -46.1 -43.5 -50.0 -57.1 200.0 -51.9 -50.0 28.6 -44.2 -47.6 -46.1
151 52 52 19 113 7 34 10 607 16 21 86 17 5 36 6 144 111 5 713 9 12,143
93 36 33 12 62 5 28 13 455 11 26 64 17 6 23 5 75 56 7 451 9 7,667
-38.4 -30.8 -36.5 -36.8 -45.1 -28.6 -17.6 30.0 -25.0 -31.3 23.8 -25.6 0.0 20.0 -36.1 -16.7 -47.9 -49.5 40.0 -36.7 0.0 -36.9
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Table 8: Foreclosure totals in each county for past 5 quarters:
Counties 2012 3rd Q Filings 803 37 896 33 1 1 214 50 11 1 11 5 6 4 8 74 733 1 369 109 39 925 68 144 20 40 22 2 16 1 658 0 4 48 18 2012 4th Q Filings 664 12 693 26 4 3 147 37 14 0 13 2 0 4 7 56 588 1 281 80 38 652 76 98 10 30 35 0 11 1 523 0 4 40 6 2013 1st Q Filings 476 10 524 15 0 2 124 41 6 0 17 10 5 8 1 33 480 1 220 69 28 549 75 94 7 28 17 1 12 0 429 0 4 30 12 2013 2ndQ Filings 472 6 503 17 2 9 111 28 12 0 13 2 4 4 5 34 377 1 198 44 16 500 39 80 12 16 17 1 6 0 354 1 2 43 4 2013 3rd Q Filings 416 6 424 14 3 2 97 15 5 0 11 0 3 3 2 39 448 1 166 53 26 458 45 55 7 14 18 1 7 0 304 1 5 33 4 2012 3rd Q Sales 460 3 494 21 1 8 94 23 5 0 10 0 0 2 4 30 414 1 165 61 40 448 56 74 7 31 25 0 12 2 350 0 5 34 8 2012 4th Q Sales 430 5 402 17 1 2 96 26 3 1 5 1 0 3 4 38 418 1 166 48 14 498 53 75 9 28 15 0 8 0 304 0 3 26 12 2013 1st Q Sales 276 8 323 22 2 2 68 18 6 1 6 3 0 2 8 40 239 1 124 52 17 412 46 61 12 21 12 1 7 0 219 0 3 26 7 2013 2nd Q Sales 292 3 291 14 0 4 71 11 10 1 9 3 0 5 2 32 215 1 90 32 16 362 55 45 4 11 19 1 13 0 206 0 2 15 7 2013 3rd Q Sales 223 3 238 12 1 4 32 17 5 0 8 4 0 1 1 33 183 1 64 28 8 247 31 53 6 24 7 1 4 0 173 0 1 17 3
Adams Alamosa Arapahoe Archuleta Baca Bent Boulder Broomfield Chaffee Cheyenne Clear Creek Conejos Costilla Crowley Custer Delta Denver Dolores Douglas Eagle Elbert El Paso Fremont Garfield Gilpin Grand Gunnison Hinsdale Huerfano Jackson Jefferson Kiowa Kit Carson La Plata Lake
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Larimer Las Animas Lincoln Logan Mesa Mineral Moffat Montezuma Montrose Morgan Otero Ouray Park Philips Pitkin Prowers Pueblo Rio Blanco Rio Grande Routt Saguache San Juan San Miguel Sedgwick Summit Teller Washington Weld Yuma Totals
236 24 7 23 288 2 27 25 56 30 23 12 54 2 23 3 282 12 9 63 7 1 19 0 42 44 4 376 10 7,076
221 18 3 13 272 0 12 22 58 27 23 2 31 0 33 6 281 5 14 37 5 1 19 1 48 49 4 313 11 5,685
182 32 2 11 182 0 26 20 52 21 23 2 36 5 19 11 201 4 11 38 7 1 15 1 46 23 4 261 7 4,571
136 13 3 12 198 0 15 17 49 17 11 7 25 2 15 6 199 8 12 27 4 1 9 6 36 28 3 230 3 4,025
139 13 3 14 207 0 9 16 42 20 13 4 29 0 7 1 203 5 10 39 2 0 6 2 22 36 2 214 1 3,745
149 14 5 11 224 0 17 17 58 17 17 6 42 2 14 2 221 6 8 28 10 0 12 1 89 35 3 237 5 4,138
130 11 3 7 202 0 16 21 35 14 17 4 37 1 10 5 172 12 10 36 2 1 11 0 25 33 1 225 7 3,760
123 19 5 13 161 0 6 18 39 13 12 5 23 1 16 3 156 6 7 30 3 1 10 1 25 18 4 169 3 2,935
68 23 6 10 168 0 12 9 30 13 12 3 18 2 6 6 155 2 9 21 5 4 7 0 35 22 2 163 5 2,658
63 15 6 8 104 0 14 9 24 10 9 4 21 2 6 4 144 3 10 13 9 1 6 4 15 16 1 119 1 2,074
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