Garfield County Foreclosures to top 400 this year

GLENWOOD SPRINGS REAL ESTATE— The region’s souring real estate market and sagging economy combined to send foreclosures in Garfield County (includes parts of Carbondale, Glenwood Springs, Silt and Rifle) skyrocketing to more than 400 for the year — as many as the previous four years combined.It’s the highest foreclosure rate in at least the past 30 years, and 64 percent higher than 1985, the last big spike, when foreclosures soared in the aftermath of the oil shale bust that rocked Garfield County.As bad as this year’s foreclosure rate was, though, next year could be as bad or worse.“Everybody I’ve talked to and my own opinion is, I don’t think we’re out of the woods,” said Public Trustee Bob Slade, who oversees foreclosures for the treasurer’s office. “I think we could have as many or even more [next year].”The volume of foreclosures coming in hasn’t slacked off, Slade said, and past experience shows that foreclosures keep coming even after the worst of the economic downturn.
By David Frey, Dec 25, 2009 Aspen Daily News

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