This article appeared in the Northern Colorado Business Report. This is just one sign of recovery in our area.
IRVINE, Calif. – Colorado dropped out of RealtyTrac’s top 10 listings of states with the highest foreclosure activity in January, slipping to No. 11. It was the first month since December 2005 that the state has not been in the Irvine-based foreclosure tracker’s top 10.
Nevada retained the No. 1 spot on the list, followed by California, Arizona, Florida, Oregon, Illinois, Michigan, Georgia, Idaho and Ohio.
RealtyTrac reported that nationwide foreclosure activity in January was down by 10 percent from December 2008 but up 18 percent from January 2008. Colorado’s foreclosure activity rate was down by about 37 percent from January 2008. The state ended 2008 with the fifth-highest rate of foreclosure activity.
Adams County had the state’s highest number of new foreclosures in January with 680. Weld County had the fifth-highest number with 401 and Larimer County was eighth with 205.
“The extensive foreclosure efforts on the part of lenders and government agencies appear to have impacted the January numbers — particularly the Fannie Mae and Freddie Mac moratorium on all foreclosure sales that was extended through the end of January along with Florida’s voluntary 45-day freeze on all new foreclosure actions and scheduling of foreclosure sales that was announced at the beginning of December,” said James Saccacio, RealtyTrac CEO.