From the Daily Camera:
Colo. foreclosures decline in 2010; Boulder County posts lowest rate in metro counties
By Alicia Wallace Camera Business Writer
Posted: 02/10/2011 10:15:14 PM MST
Fewer Colorado residents filed for foreclosure last year than in 2009, but state housing officials caution that it’s too soon to tell whether a turnaround has taken hold.
The number of foreclosure filings in 2010 fell 8 percent to 46,394, according to a report from the Colorado Division of Housing. Sales of foreclosure properties at auction rose 16.9 percent — an increase housing officials say was expected because of the record number of Colorado homeowners who defaulted on their mortgages during the past two years.
“It could be that we’ve moved through that inventory and that sales will actually start to move down,” said Ryan McMaken, a Colorado Division of Housing spokesman. “Will 2011 be a year of recovery? I don’t know yet.”
Rising unemployment drove the state’s foreclosure filings to their peak level in 2009, and filings, in general, have slowly declined since, he said. That trend continuing will hinge on the overall economic health, he added.
Boulder County finished the fourth quarter with the lowest foreclosure rate among metropolitan counties, with one completed foreclosure per every 1,071 households. The rate was calculated off a 2009 estimate of 118,912 houses.
The declines seem to align with what D.B. Wilson, a Re/Max of Boulder partner, is seeing on the ground level. Wilson has sold homes on the secondary market since he became a Fannie Mae REO Broker in 1992.
Golly gee. To hear some in Longmont tell it, foreclosures are running riot! It’s all the liberals fault! Hm. Not so much apparently. Kind of puts a stick in the spokes of the wingnuts. But then again their wheels don’t go ’round all that well as it is… heck they barely reach the ground most times.