Foreclosure - It Is Not So Cloudy In Garfield County

The weather is bad. Foreclosure clouds are raging across the land. In some places the rumblings are ominous pointing to worse days ahead. In Colorado the bleak weather worsens with the additional burden of 10,017 foreclosure listings during the second quarter of this year. But Garfield County is relatively better off than other regions.

In Garfield County in every 506 units there is one foreclosure. In La Plata County situated also on the Western Slope, the ratio is slightly worse with one foreclosure for every 479 properties. Across the state the average figure during the first half of 2007 is one filing for 181 houses.

Colorado Division of Housing has been posting statistics on its own website. According to it during the first quarter of this year Garfield County had 18 foreclosures. During the second quarter the number rose to 19. In La Plata the increase was from 17 to 23 during the second quarter of this year. The jump was noticeable in Eagle County from 14 to 45 during the second quarter. In Mesa County there was a slight fall from 102 to 89. Pitkin County made its debut in the foreclosure scandal from zero to 3 during the same period.

During the first half of this year the total number of foreclosure listings across the state is 19,460. Earlier during the previous week the Colorado Division of Housing released these figures. Analyzing the same it appears that in the state on an average there has been a 6% increase from the first quarter to the second. The trend points to a worsening of the clouds. Most probably the speed will increase to 25% before the year dies out. Foreclosures will touch 36,000. The picture will become clear taking into note that in 2006 the reporting had been 28,435 listings.

Now to take a look at the localized break up. Most of the foreclosures have been concentrated in the Counties of Adam and Denver. In the former the listings had jumped by 19% during he last two quarters – that is from 1,456 to 1,734. It will help to take into account that in many other counties there was not much difference between the foreclosure figures between the first and the second quarters.

Except for sunshine pockets here and there the situation continues to be grim with no hope for the forthcoming months.

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