Foreclosure. Report Douglas County Property 3,000 2,680 2,500 2,403 2,180 2,000 1,856 1,500 1,258 1,279 1,000 1, ,062 1,051

Transcription

1 3, 2,68 2,5 2,43 2,18 2, Douglas County Property 1,856 1,5 Foreclosure 1,258 1, Report , ,62 1,51 1, Page 1 of 12

2 Table of contents PAGE Douglas County foreclosure quick facts 3 Definitions and notes 4 Monthly foreclosure filings 5 Monthly foreclosure sales 6 Quarterly foreclosure filings and sales 7 Annual foreclosure filings and sales 8 Denver Metro Area foreclosure filings and sales 9 Foreclosure filings property type 1 Geographic summaries by master plan area 11 Zip code summaries 12 foreclosures 3/2/21 Page 2 of 12

3 Douglas County foreclosure quick facts SUMMARY FACTS Number of foreclosure filings in Douglas County in 21 2,43 Number of foreclosure sales in Douglas County in 21 1,279 Annual growth rate in foreclosure filings -1.3% Annual growth rate foreclosure sales 21.7% Douglas County share of Denver Metro Area foreclosure filings 1.5% Residential share of all foreclosure filings in Douglas County 96.8% Vacant land share of all foreclosure filings in Douglas County 2.4% Commercial, Office, and Industrial share of all foreclosure filings in Douglas County.8% foreclosures 2/18/211 Page 3 of 12

4 Definitions and notes ACRONYMS APT = Apartments COI = Commercial, Office, and Industrial CONDO = Condominium MFRES = Multifamily residential RES = Residential SFRES = Single family residential TWNHS = Townhouse CMP = Comprehensive Master Plan PUA = Primary Urban Area CPSUA = Castle Pines Separated Urban Area PINSUA = Pinery Separated Urban Area ROXSUA = Roxborough Separated Urban Area MPAs = Municipal Planning Areas INC = Incorporated area UNINC = Unincorporated area NOTES Foreclosure filings are election and demand notices, or the initial foreclosure notice, and do not represent the number of foreclosures that have actually gone to sale. Foreclosure sales are those foreclosed properties that have gone to auction sale. The Denver Metro Area here refers to the 7-county Denver Metro Area, including Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, and Jefferson counties. Castle Pines, Castle Rock, Larkspur, Lone Tree, and Parker are entirely within Douglas County. Aurora and Littleton are only partially within Douglas County. The numbers shown here for Aurora and Littleton represent only the portions of those municipalities that are in Douglas County. The unincorporated subdivisions of Stonegate, Cottonwood, Cottonwood South, and Compark are included in the PUA rather than the PARMPA. "Single family" housing (SFRES) refers to all single family detached housing. Housing that is sometimes referred to as single family attached units are all included in the multifamily housing type. "Multifamily" housing (MFRES) includes all single family attached units, townhouses, condos, duplexes, triplexes, and apartments. The term "townhouses" includes townhouses, duplexes, and triplexes. Detached single occupancy condominiums are included in multifamily residential because of the nature of their collective ownership. Urban refers to those bulk geographic areas designated for urban density in the Douglas County CMP. The Urban designations include the PUA, all SUAs, all MPAs, and all the incorporated areas. foreclosures 2/18/211 Page 4 of 12

5 Monthly foreclosure filings Election and demand notices are the initial foreclosure filings and do not represent the number of foreclosures that actually have gone to sale. Foreclosure sales are illustrated on a later page. Foreclosure filings reached a new high in August 29 with 284 election and demand notices in one month. The upward trend in foreclosure filings had been accelerating since the latter part of 26. Foreclosure filings in 21, totaling 2,43 filings, were 1% lower than in & 21 ELECTION AND DEMAND NOTICES MONTHLY FORECLOSURE FILINGS JANUARY FEBRUARY MARCH APRIL MAY JUNE MONTHLY AVERAGES JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER ANNUAL 1,856 2,18 2,68 2,43 GROWTH 37.9% 17.5% 22.9% -1.3% MONTHLY FORECLOSURE FILINGS (ELECTION AND DEMAND) JAN3 APR3 JUL3 OCT3 JAN4 APR4 JUL4 OCT4 JAN5 APR5 JUL5 OCT5 JAN6 APR6 JUL6 OCT6 JAN7 APR7 JUL7 OCT7 JAN8 APR8 JUL8 OCT8 JAN9 APR9 JUL9 OCT9 JAN1 APR1 JUL1 OCT1 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC foreclosures 2/18/211 Page 5 of 12

6 Monthly foreclosure sales The number of properties in Douglas County going to foreclosure sale maintained a relatively constant pace from 26 to 29. In 21, sales increased 22%, showing a monthly average of 17 sales. That's the highest foreclosure sales volume seen in the County. MONTHLY FORECLOSURE SALES JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER FORECLOSURE SALES NOVEMBER DECEMBER MONTHLY AVERAGES ANNUAL 992 1,62 1,51 1,279 GROWTH 28.1% 7.1% -1.% 21.7% JAN FEB MAR APR MAY JUN JUL 18 7 AUG SEP OCT NOV DEC MONTHLY FORECLOSURE SALES JAN5 MAR5 MAY5 JUL5 SEP5 NOV5 JAN6 MAR6 MAY6 JUL6 SEP6 NOV6 JAN7 MAR7 MAY7 JUL7 SEP7 NOV7 JAN8 MAR8 MAY8 JUL8 SEP8 NOV8 JAN9 MAR9 MAY9 JUL9 SEP9 NOV9 JAN1 MAR1 MAY1 JUL1 SEP1 NOV1 foreclosures 2/17/211 Page 6 of 12

7 Quarterly foreclosure filings and sales Looking at foreclosure activity in Douglas County on a quarterly basis emphasizes the acceleration of the foreclosure filings trend in contrast to the relative stability of the foreclosure sales trend. Foreclosure filings peaked in 29 at a quarterly average of 67 filings per quarter, then dropped to 61 per quarter in 21. Foreclosure sales were flat from 26 to 29 on a quarterly average basis, but rose to 32 sales per quarter in 21. QUARTERLY FORECLOSURE FILINGS Q1 Q2 Q3 Q4 AVE QUARTERLY AVERAGES QUARTERLY FORECLOSURE SALES Q1 Q2 Q3 Q4 AVE 23 NA NA NA NA 24 NA NA NA NA 25 NA FILINGS SALES QUARTERLY FORECLOSURE FILINGS (ELECTION AND DEMAND) AND SALES Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 1Q28 2Q28 3Q28 4Q28 1Q29 2Q29 3Q29 4Q29 1Q21 2Q21 3Q21 4Q21 FILINGS SALES foreclosures 2/18/211 Page 7 of 12

8 Annual foreclosure filings and sales There were 2,43 foreclosure filings and 1,279 foreclosure sales in Douglas County during 21. Foreclosure filings in 21 were down 1% from the level recorded in 29. Foreclosure sales in 21 were up 27% from the level seen in 29. Foreclosure filings in Douglas County were 1,33% higher in 21 than that experienced in the year 2. The volume of foreclosure filings recorded in Douglas County in 21 made up 18% of all the foreclosure filings registered since the year % SHARES OF FILINGS SINCE % 21 2.% 22 3.% % % ANNUAL FORECLOSURE FILINGS AND SALES FILINGS GROWTH SALES GROWTH % NA % NA % NA % NA % % % NA % NA 26 1, % 1, , % % 28 2, % 1,62 7.1% 29 2, % 1,51-1.% 21 2,43-1.3% 1, % % % ANNUAL FORECLOSURE FILINGS (ELECTION AND DEMAND) AND SALES 3, 2,68 2,5 2,18 2,43 2, 1,856 1,5 1,258 1, , ,62 1,51 1, FILINGS SALES foreclosures 2/18/211 Page 8 of 12

9 Denver Metro Area foreclosure filings and sales During 21, a total of 1% of all the foreclosure filings in the 7-county Denver Metro Area were located in Douglas County. The County also posted 1% of the foreclosure sales in the Denver Metro Area in FORECLOSURE FILINGS JEFFERSON 16.5% ADAMS 2.9% 6% 5% 4% 3% 2% 1% ANNUAL CHANGES IN FORECLOSURE FILINGS 22.7% 26.8% 23.8% 14.% 3.% 29.6% 37.9% 35.2% 3.5% 48.3% 39.6% 4.4% 16.9% 22.9% 6.8% 18.% DOUGLAS 1.5% ARAPAHOE 23.5% % -1% -2% % -1.5% DOUGLAS COUNTY DENVER METRO COLORADO % -11.7% -8.% DENVER 21.6% SOURCE: DIVISION OF HOUSING, COLORADO DEPARTMENT OF LOCAL AFFAIRS SOURCE: DIVISION OF HOUSING, COLORADO DEPARTMENT OF LOCAL AFFAIRS FORECLOSURE FILINGS BROOMFIELD 1.3% BOULDER 5.8% ADAMS 6,246 5,558 5,647 4,891 ARAPAHOE 6,259 5,876 6,233 5,5 BOULDER 1,9 1,41 1,437 1,352 BROOMFIELD ANNUAL CHANGES IN FORECLOSURE SALES DENVER 7,99 6,212 6,141 5,53 DOUGLAS 1,865 2,18 2,68 2,452 JEFFERSON 3,588 3,669 4,27 3,849 METRO AREA 27,122 24,89 26,52 23,393 STATE 39,92 39,333 46,394 42,692 FORECLOSURE SALES ADAMS 4,454 3,429 2,739 2,856 ARAPAHOE 4,177 3,376 2,84 3,212 BOULDER BROOMFIELD DENVER 5,79 4,362 3,18 2,88 DOUGLAS 992 1,69 1,51 1,279 JEFFERSON 2,18 1,754 1,643 2,7 METRO AREA 17,613 14,58 12,1 12,998 STATE 25,54 21,36 2,437 23,891 SOURCE: DIVISION OF HOUSING, COLORADO DEPARTMENT OF LOCAL AFFAIRS Douglas County has shown higher annual rates of growth in foreclosure filings than the overall Denver Metro Area and the State for five years in a row. In 26, only 6% of the foreclosure filings in the 7-county Denver Metro Area were in Douglas County. By 29 that number had grown to 1% of all foreclosure filings. Similarly, the Douglas County share of all foreclosure sales in the 7-county Denver Metro Area in 27 stood at 6%. By 21, that share had grown to 1%. 25% 2% 15% 1% 5% % -5% -1% -15% -2% SOURCE: DIVISION OF HOUSING, COLORADO DEPARTMENT OF LOCAL AFFAIRS 7.8% % -15.% -1.7% % -4.1% 21.7% DOUGLAS COUNTY DENVER METRO COLORADO 8.3% 16.9% foreclosures 2/18/211 Page 9 of 12

10 Foreclosure filings property type A total of 97% of all the foreclosure filings during 29 in Douglas County were residential properties. Another 2% were various types of vacant land and 1% were commercial, office, or industrial properties. 21 FORECLOSURE FILINGS BY PROPERTY TYPE RES 96.8% 3, 2,5 2, 1,5 1, 5 RESIDENTIAL FORECLOSURE TRENDS 2,573 2,325 2,132 1, LAND 2.4% COI.8% Residential foreclosure filings declined at a 9.6% rate from 29 to 21, slightly less than the overall 1.3% reduction for all foreclosure filings. 21 RESIDENTIAL FORECLOSURE FILINGS CONDO 9.% TWNHS 4.% COI FORECLOSURE SQUARE FOOTAGE TRENDS 6, 5, 4, 3, 53, ,452 SFRES 87.1% 2, 1, 14,275 91, Single family residences made up 87% of all residential foreclosure filings in Douglas County during 21. Condominiums comprised 9% and townhouses represented 4%. In 21 there were 58 vacant land foreclosure filings. Of those, 5 were single family residential lots, 1 was a commercial lot and the rest were small representations in other categories. Commercial, office, and industrial property foreclosures with an existing building on the property grew from 2 filings in 27 to 21 filings in 29, then dropped to 19 in VACANT LAND FORECLOSURE TRENDS foreclosures 2/18/211 Page 1 of 12

11 Geographic summaries by master plan area A total of 47% of all foreclosure filings in Douglas County during 21 were located in the incorporated cities and towns whereas the incorporated areas comprise only 4% of the total housing stock of the County. The unincorporated area contained 53% of all foreclosure filings but has 6% of all housing stock in the County. DISTRIBUTION BY JURISDICTION During 21, 91% of all foreclosure filings were located in urban areas and 9% in nonurban areas. DISTRIBUTION BY URBAN AREA NONURBAN 9.% INC 46.8% UNINC 53.2% URBAN 91.% Similarly, the PUA had 32% of the foreclosure filings during 21 but contains 41% of all the housing stock in the County. A total of 24% of all foreclosure filings during 21 were located in Castle Rock and 18% in Parker. Those incorporated towns contain 17% and 15%, respectively, of all the housing stock in the County. FORECLOSURE FILINGS BY MASTER PLAN AREA SHARE OF ALL FORECLOSURE HOUSING FCLSR FILINGS STOCK FILINGS SHARE PUA 41.4% % CHATFIELD URBAN.%.% CPSUA 1.4% % PINSUA 3.8% % ROXSUA 3.% % MPAs.8% % NONURBAN 9.9% % UNINC SUBTOTAL 6.3% % AURORA.1%.% CASTLE PINES NORTH 3.4% % CASTLE ROCK 16.8% % LARKSPUR.1% 1.% LITTLETON.%.% LONE TREE 4.2% % PARKER 15.1% % INC SUBTOTAL 39.7% % NA 1.% COUNTY TOTAL 243 foreclosures 2/18/211 Page 11 of 12

12 Zip code summaries 21 FORECLOSURE FILING DISTRIBUTION BY ZIP CODE % % % 816 % % 818 7% 8133 % 8131 % 813 7% % % % % 819 8% % 812 % % % FORECLOSURE FILINGS BY ZIP CODE NA TOTAL 1,856 2,18 2,68 2,43 At 23%, the 8134 zip code had the largest share of foreclosure filings in Douglas County during 21. The 814 zip code has the second highest share with 16% of the foreclosure filings. foreclosures 2/18/211 Page 12 of 12