The foreclosures in the county of Broomfield and Boulder of Colorado are increasing day by day which is having a very negative effect on the real estate of the region. From January to June, it has been observed that there has been a 16 percent increase in the foreclosure filings in Colorado as compared to the last year during the same period of time. According to the Colorado Division of Housing’s Department of Local Affairs, it decelerated by 6 percent from the first quarter to the second quarter.

However, some observers are very positive that there will be an easing in the foreclosures very soon. The community relations director of the Colorado Division of Housing Ryan McMaken has said that an increase of 16 percent is not that big when seen in the national context. The number of foreclosure filings from 2005 to 2006 has shown a 30 percent increase and that from 2006 to 2007 has shown a 40 percent increase. Thus the scenario now is much better when compared to these periods.

The number of foreclosures in the counties of Boulder and Broomfield is the highest. From January to June, it has been recorded that there were 575 foreclosure filings. In Boulder County, there has been one foreclosure filing per 197 houses. This is considered to the lowest in the whole metro area of Denver. On the other hand, there have been about 152 foreclosure filings in Broomfield County with one foreclosure for every 112 households. The number of foreclosure filing in the real estate of Boulder and Broomfield has increased over the years in the period from January to June. They have shown an increase of 35 and 48 percent respectively. The Douglas County foreclosures have spurted to 49 percent from January to June of 2008 in comparison to the first quarter of 2007.

The increase in the Weld County during the second quarter and from January to June stands respectively at 20 and 23 percent. There has been one foreclosure filing for every 44 households in Adams County, one foreclosure filing for every 65 households in Denver County, and one foreclosure filing for every 344 households in Garfield County. A buffer in foreclosures is there in the Boulder City due to the increasing demand of real estate and growth controlling measures. It is anticipated that there can be an increase in foreclosures in the Broomfield County in the near future. The betterment of the situation depends on how fast the US can come out of its sluggish pace of economy.

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