Foreclosures down in state but up in mountains
ASPEN – Foreclosure activity in Colorado decreased 15 percent last month, when compared with the same period a year earlier, suggesting the state’s housing market is stabilizing, industry data shows.
A total of 4,876 properties in the Centennial state were in some form of foreclosure in May, according to RealtyTrac Inc. The Southern California-based firm monitors such activity.
That translated to one foreclosure proceeding for every 436 households in the state in May.
Even though foreclosure activity was down, the state had the eighth highest rate in the nation last month. Nevada ranked first, followed by California and Florida. Data were released last week.
In Summit County, there were 31 foreclosures in May, compared to 15 in May, 2008, according to the county treasurer.
In Pitkin County, the number of properties entering foreclosure climbed to 11 last month from three in May 2008. Among the more notable foreclosures was a home belonging to Pamela Anne Phillips.
Phillips is wanted in Arizona in connection with the alleged murder of her ex-husband, Gary Triano.
A survey showed a good bit of support for local government action to bolster workforce housing in town. For now though, that support stops at supporting a new tax for funding.