We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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Boulder County had 389 new filings and 201 sales in 2013, down from 789 and 372, respectively, in 2012. Broomfield County had 109 new filings and 52 sales in 2013, down from 210 and 96.
Of the 12 metropolitan counties along the Front Range, Boulder County’s fourth-quarter rate of completed foreclosures per household of 0.02 percent was the lowest. Boulder County, which has 123,281 households, had 30 foreclosure auctions in the fourth quarter. Statewide, Boulder County’s rate was bested only by eight mostly rural or mountain counties that had zero foreclosures in the fourth quarter.
Boulder County’s 30 fourth-quarter auctions marked a 69 percent decline from the fourth quarter of 2012, while the county’s number of new filings dropped from 147 to 57 for the same period a year ago.
Broomfield County experienced an increase in new filings, from 15 to 25, from the third quarter of 2013 to the fourth quarter. But it, too, had steep decreases year over year – 32 percent in new filings and 77 percent, from 26 to 6, in auction sales.
The new numbers accompanied state figures that were the lowest since 2004. Colorado had 15,333 new filings in 2013 versus 28,579 a year earlier and 46,394 in 2009 at the depths of the recession. Not since 2004’s 18,127 new filings had the state seen fewer.
Colorado’s auction sales decreased similarly, from 15,903 in 2012 to 9,318 in 2013. That marked the lowest total since 10,566 in 2004.
“Colorado appears to be reaching the end of this foreclosure cycle,” Division of Housing economist Ryan McMaken said in a press release. “Foreclosure activity is now well below the crisis levels of 2007 and 2009.”
All of the state’s 12 metro counties reported year over year foreclosure declines from 2012 to 2013.