Measure of refinancing and real estate sales increases
A measure of refinancing and real estate sales has increased in Mesa County. According to the latest information from the Colorado Division of Housing, the Mesa County public trustee’s office released 1,635 deeds of trust during the third quarter. That number constitutes a nearly 9 percent increase over the second quarter and an almost 22 percent increase over the third quarter of 2011.
A deed of trust is released when a real estate loan is paid off, whether through refinancing, sale of the property or final payment on a mortgage. The majority of deed releases occur as a result of refinancing or sales. Through the first three quarters of 2012, 4,980 deeds of trust were released in Mesa County. That’s a 1.6 percent gain over the same span in 2011.
Expressed as a ratio of the number of deed releases divided by the number of occupied households, Mesa County ranked near the bottom among 21 Colorado counties for which third-quarter figures were reported.
Mesa County reported 2.6 deed releases per 100 households. Delta County ranked lowest of all with 2 deed releases per 100 households. By comparison, Douglas County ranked first among the 21 counties with 6.8 deed releases per 100 households. On an annual basis, deed releases have declined in each of last five years in Mesa County, decreasing from 14,900 in 2006 to 6,424 in 2011.
Combined deed releases for the 21 counties during the third quarter of 2012 climbed to a three-year high of 78,240. That’s a more than 54 percent increase over the third quarter of last year. Through the first three quarters of 2012, deed releases in the 21 counties totalled 218,138, a nearly 23 percent increase over the same span last year.