Listings of Pre Foreclosures in El Paso County Not As Bad As Other Areas- By: John Cutts
The level of problem faced by El Paso County, Colorado in terms of foreclosures and listings of pre foreclosures is much better than other counties in the state; but at the same time, is worse than some local areas. To put it in simpler terms, the county is in the middle level if foreclosure problems within the whole state are to be considered.
Foreclosure filings data for August 2010, including foreclosure listings in Colorado Springs, showed the county recording a 3.8% decline compared with August 2009. When compared with the 12 metro areas of the state, seven have bigger percentage decreases than El Paso, with Adams recording the highest decline for August at over 24%.
When it comes to statewide data, Colorado foreclosure lists and filings recorded a drop of 10.1% in August compared with the same month in 2009. Looking at the January-August 2010 period, filings in El Paso County recorded an 11.8% drop compared with January-August 2009. The figure is exactly the same when statewide decline for the eight-month period is considered.
Five counties in Colorado have bigger declines than El Paso when year-to-date period is considered. Foreclosure rates and listings of pre foreclosures declined considerably in Denver during the January-August 2010 period, with the metro area recording a 22.1% drop in filings for that period, the biggest among all counties.
Despite the decline in the foreclosure filings and house foreclosure listings numbers of El Paso, local realtors are predicting that the county's total is on course to reach 4,800 by the end of 2010. The total would be the second worst for the county, with 2009 being its worst annual filing year when 5,470 foreclosure notices were issued.
August 2010 figures showed the county having one foreclosure completed during the month out of 833 properties. Among all local areas in the state, Boulder has the best foreclosure ratio for August, with one foreclosure completed in the city for every 2,029 residential properties.
Adams, on the other hand, had the worst ratio at one household out of 616 receiving a filing in August. When data for all 12 Colorado metro areas are added up, the ratio for foreclosure filings and listings of pre foreclosures is one household out of every 904.
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