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Homeowners continued to bail out of their properties at a dazzling pace in February as foreclosure sales climbed more than 362 percent in Mesa County.
The Colorado Division of Housing reported in its monthly survey that foreclosure sales surged to 74 in February from 16 in February 2009.
The percentage change was the highest in the state for metropolitan counties tracked in the survey — a distinction the Mesa County housing market has held for many months, division of housing data showed. Data were released this week.
Ryan McMaken, communications director of the housing division, said the foreclosure situation in Mesa County seems to be getting worse. Foreclosure sales in Mesa County were up 338 percent in January and 324 percent in the fourth quarter of 2009.
Each period is compared with the same time a year earlier.
“The data is clear,” he said.
Broomfield County posted the second highest percentage increase in the state last month as sales climbed 75 percent. Boulder County rounded out the top three with a 27 percent gain.
Conversely, five counties recorded decreases in foreclosure sales. Weld County posted a 19.8 percent drop with Denver County down about 18 percent. Adams County notched a nearly 17 percent decrease with Jefferson County down about 9 percent.
El Paso County saw foreclosure sales fall 7 percent in February. Twelve metro counties are covered in the survey.
For the 12 counties, foreclosure sales rose 14 percent to 1,664 in February from 1,460 in February 2009.
Also on the upswing in Mesa County were foreclosure filings, which spiked roughly 223 percent to 142 in February from 44 in February 2009. The most recent percentage reading was also the highest in the state last month.
Filings decreased in four counties including Larimer, which saw activity drop 24 percent last month.
All told foreclosure filings increased 6.5 percent to 3,042 from 2,856.
The foreclosure process generally begins when a borrower is three months behind in his or her payments. At that point the lender typically files a notice of election and demand with the public trustee's office of the county in which the property sits.
Data are based on foreclosure information reported by the public trustee's office in each county.
The Colorado Division of Housing reported in its monthly survey that foreclosure sales surged to 74 in February from 16 in February 2009.
The percentage change was the highest in the state for metropolitan counties tracked in the survey — a distinction the Mesa County housing market has held for many months, division of housing data showed. Data were released this week.
Ryan McMaken, communications director of the housing division, said the foreclosure situation in Mesa County seems to be getting worse. Foreclosure sales in Mesa County were up 338 percent in January and 324 percent in the fourth quarter of 2009.
Each period is compared with the same time a year earlier.
“The data is clear,” he said.
Broomfield County posted the second highest percentage increase in the state last month as sales climbed 75 percent. Boulder County rounded out the top three with a 27 percent gain.
Conversely, five counties recorded decreases in foreclosure sales. Weld County posted a 19.8 percent drop with Denver County down about 18 percent. Adams County notched a nearly 17 percent decrease with Jefferson County down about 9 percent.
El Paso County saw foreclosure sales fall 7 percent in February. Twelve metro counties are covered in the survey.
For the 12 counties, foreclosure sales rose 14 percent to 1,664 in February from 1,460 in February 2009.
Also on the upswing in Mesa County were foreclosure filings, which spiked roughly 223 percent to 142 in February from 44 in February 2009. The most recent percentage reading was also the highest in the state last month.
Filings decreased in four counties including Larimer, which saw activity drop 24 percent last month.
All told foreclosure filings increased 6.5 percent to 3,042 from 2,856.
The foreclosure process generally begins when a borrower is three months behind in his or her payments. At that point the lender typically files a notice of election and demand with the public trustee's office of the county in which the property sits.
Data are based on foreclosure information reported by the public trustee's office in each county.
