In Mesa County Foreclosure Auctions are the Highest in Colorado
Mesa County has been witnessing in January 2010 the highest number of auctions in the 12 mega counties of Colorado according to the increase of percentages as per the data released by Colorado Division of Housing.
In January this year the number of foreclosure auctions jumped by more than four times the number of the same month in the previous year and six times more than 2008 January. The number of foreclosures that started also spiked last January by over two times the number of 2009 January and three times more than the numbers of 2008 January.
Eight counties of the twelve largest counties of Colorado posted drops in foreclosure posting as compared to January 2008. Foreclosure activity had picked up speed from that month in Colorado. In Mesa County the wave came comparatively late but it began to significantly surge from 2009. In January 2010 foreclosure numbers slowed down in 10 of the mega 12 counties but it swelled in Boulder and Mesa.
In Mesa county there were 145 foreclosure filings in 2010 January – an increase of 56 filings from January 2009 filings. In January 2008 there had been 41 foreclosure postings. The total number of sales of foreclosed units also jumped in this January. 70 houses were sold at the auctions or taken over by the banks. In January 2009, 16 foreclosed units had been sold. In January the number had been 12.
Till 19th February the lenders have taken 106 foreclosure actions according to Sharon Ener of Mesa County Public Trustee’s Office. He explained that although more units in Mesa County were entering the foreclosure zone over the past few months the pace of sales has not been equal to it and comparatively slow. In foreclosure sales Mesa County ranked 10th.
Realtors in Mesa County are feeling positive when the total number of sales of residential units in January went up by 46% in comparison to 2009 January. According to Colorado Association of Realtors in January 99 units were sold marking a spike from the 68 houses that were sold in 2009 January.
The prices however continue to tumble with more foreclosed units rushing into the market. In January 2010 the average sales value dropped to $192,222 as compared to the average sale price of $206,667 in 2009 January.
The figures are not too bright and fears about a backlash remain.
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In Mesa County Foreclosure Auctions are the Highest in Colorado
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