Mesa County foreclosure activity down for December, but up for 2010

While property foreclosure activity slowed in Mesa County in December, proportional increases in year-end totals for foreclosure listings and sales were far greater than in any of 11 other metropolitan counties in Colorado.

According to the latest statistics from the Colorado Division of Housing, 128 foreclosure filings and 69 foreclosure sales were reported in Mesa County in December.

Filings constitute the beginning the legal foreclosure process. Filings can be cured or withdrawn before properties are sold, however. Sales indicate how many properties have been sold at the end of the foreclosure process with ownership reverting to the lender or passing to a third party. Because of the period between filings and sales, the two don’t occur in the same month.

The number of filings reported in December in Mesa County was down nearly 13 percent from November and nearly 45 percent from December 2009.

The number of sales reported in December 2010 in Mesa County climbed 19 percent from November, but dropped more than 4 percent from December 2009.

For all of 2010, though, foreclosure filings and sales continued to increased compared to the previous two years.

A total of 1,672 filings were reported in Mesa County in 2010, up nearly 30 percent from 2009 and more than 278 percent from 2008.

A total of 980 sales were reported in Mesa County in 2010, up 173 percent from 2009 and nearly 861 percent from 2008.

Mesa County was the only one of 12 metropolitan counties in Colorado to experience year-over-year growth in foreclosure filings in 2010.

Elsewhere, proportional declines ranged from 4.4 percent in Jefferson County to 17.8 percent in Weld County.

The year-over-year proportional gain in foreclosure sales in Mesa County was by far the largest among the 12 counties. Elsewhere, changes ranged from a 23.4 percent increase in Boulder County to a 7.3 percent decrease in Denver County.

For 2010, Mesa County reported a foreclosure rate of one sale for every 57 households, a ratio that ranked third highest among the 12 metro counties. Weld County reported the highest rate at one sale for every 50 households, while Adams County was a close second at one sale for every 52 households.

For December 2010, a total of 2,893 foreclosure filings and 1,342 foreclosure sales were reported for the 12 counties. Compared to December 2009, filings dropped 21.3 percent and sales declined 19.2 percent.

For all of 2010, a total of 35,875 filings and 20,070 sales were reported for the 12 counties. Compared to 2009, filings increased 9.6 percent and sales climbed 5.6 percent.

An analysis of the six-month moving average of filings and sales reflects a downward trend in foreclosure activity in Colorado over the past several months.

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 Feb 15 2011. 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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