Metro foreclosures drop

Finally, some good news on foreclosures: Filings in the seven-county Denver area in the second quarter fell by 7.5 percent from the first quarter.

There were 6,992 foreclosure filings in the metro area in the second quarter, compared with 7,565 filings in the first quarter.

In the first half of the year, however, foreclosures are still up 15.6 percent from the same period in 2007.

Foreclosures remain on a record pace with 14,600 filings received in the first six months by public trustee offices in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties, compared with 12,626 in the same period last year. But experts are encouraged that the pace of foreclosures is slowing.

In the first half of 2007, foreclosures rose by 25 percent from the same period in 2006, for example.

Adams County saw a 48 percent increase in foreclosures in the first six months of 2007 compared with the same period in 2006, while this year foreclosures are up 12 percent compared with the first half of 2007.

"I'm hoping that this foreclosure tsunami that has wiped out so many homes is starting to roll back," said Ed Jalowsky, principal of Hottest Homes Realty. "But I still think it is going to take six to 12 months for it all to work itself out."
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