Foreclosure filings, sales down across state and Mesa County
Colorado foreclosure filings fell to their lowest point in 18 months in May, according to a monthly foreclosure report released Thursday by the Colorado Division of Housing.
Foreclosure sales, which mark the end of the foreclosure process, whereas filings represent the beginning, also dipped, reaching their lowest statewide total in nine months.
“It’s good news statewide,” Colorado Division of Housing spokesman Ryan McMaken said.
Even Mesa County foreclosure filings and sales, which have been on the rise as Front Range foreclosures creep toward normalcy, decreased in May compared to April.
Still, the news isn’t perfect for Mesa County. Of the state’s 12 most populated counties, Mesa County alone had an increase in foreclosure filings in May 2010 compared to May 2009, increasing about 1 percent.
Mesa County also had the greatest increase in foreclosure sales year-over-year among the top 12, nearly quadrupling in May 2010 compared to May 2009.
The number of foreclosed homes Bray Real Estate Realtor Jason Holm has in his inventory has remained steady at about 40 to 50 at a time during the past few months, he said. Although it’s a heavier load than the eight or 10 foreclosed homes he could expect to handle a year ago, Holm said the number at least hasn’t increased, and he has plenty of interested buyers if the price is right.
“Buyers are definitely looking for a bargain right now,” Holm said.
“What we’re seeing across the board is the market is down 15 to 20 percent (from a year ago) on pricing. Our unit sales are up in Mesa County year-to-date probably 7 percent.”