Homes Foreclosure Auctions in Mesa Most Active in Colorado

Homes foreclosure auctions in Mesa County had been the most active among auctions in the 12 largest counties in Colorado in January this year based on percentage increases, according to data from the Colorado Division of Housing.

The number of completed foreclosures listed for the January 2010 auctions shot up by more than 4 times the number listed in January last year and almost 6 times the number in January 2008.

The number of initiated foreclosures also increased in January by more than 2 times the number in January last year and more than 3 times the number in January 2008.

Of the 12 largest Colorado counties, 8 counties posted declines in foreclosure filings compared to filings in January 2008, the month foreclosure activity started to gain ground in the state. Foreclosure activity started late in Mesa County, surging by a significant rate only in 2009. In January this year, foreclosure activity slowed in 10 of the 12 largest counties while it surged in Boulder and in Mesa.

In Mesa County, foreclosure activity surged to 145 filings in January this year, an increase from 56 filings in January last year and from 41 filings in January 2008. Total sales of foreclosure homes also increased in January this year, with 70 units sold at homes foreclosure auctions or sold back to lenders. Only 16 foreclosure homes got sold in January last year and in January 2008, only 12 units were sold.

As of February 19, lenders have already filed 106 foreclosure actions with the Mesa County Public Trustee’s Office, according to public trustee officer Sharon Ener. He added however that although more properties in Mesa County are entering foreclosure auctions over the past months, the pace of sales had not been as active.

Based on number of foreclosure filings in January, Mesa County ranked 7th among the 12 largest counties. It ranked 10th based on foreclosure sales.

Meanwhile, Mesa County real estate professionals were encouraged when total home sales in January surged by 46 percent compared to sales in January 2009. The Colorado Association of Realtors reported that 99 houses were sold in January this year, an increase from 68 houses sold in January last year.

As homes foreclosure auctions get more active with more listings, home prices continued to fall. The average sales price in January this year decreased to $192,222, compared to the average price of $206,667 in January last year.

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