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Mesa County deed releases dip in third quarter

A measure of home loans and real estate sales declined in Mesa County during the third quarter, but remained well above levels for the previous two years.

According to the latest information from the Colorado Division of Housing, the Mesa County public trustee’s office released  2,003 deeds of trust during the third quarter of 2013.

That number constitutes a nearly 9 percent decrease from the second quarter of 2013. However, the latest number is up more than 11 percent from the third quarter of 2012 and nearly 52 percent from 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 a final payment. The release of deeds of trust offers an indicator of real estate activity in reflecting refinancing and sales.

Through the first three quarters of 2013, 6,788 deeds of trust were released in Mesa County. That’s more than 31 percent higher than the same span for 2012 and almost 39 percent higher than the same span in 2011.

For all of 2012, 7,853 deeds were released in Mesa County. That’s more than the totals for 2011 or 2010, but well below the peak of 19,134 deed releases recorded in 2003.

Expressed as a ratio of deed releases divided by the number of occupied households, Mesa County ranked near the bottom of 21 Colorado counties for which third quarter numbers were reported. Mesa County reported 3.2 deed releases for every 100 households.

Douglas County ranked first among the 21 counties during the third quarter with 7.3 deed releases per 100 households. Delta County ranked last with 2.2 deed releases per 100 households.

Deed releases from the 21 counties during the third quarter totalled 89,372, a nearly 6 percent decrease from the second quarter of 2013, but an almost 14 percent increase over the third quarter of 2012.

According to separate information reported by Heritage Title Co. in Grand Junction, 1,732 loans secured by real estate were issued during the third quarter in Mesa County. That number is down 26 percent from the third quarter of 2012.

Through the first three quarters of 2013, 6,091 loans secured by real estate were issued in the county. That number constitutes a slight increase over the same span in 2012.

The Business Times has served as the definitive source for Grand Junction business news since 1994. The journal offers news, views and advice you can use twice each month in print with daily updates online at www.TheBusinessTimes.com
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Posted by on Oct 23 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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