Colorado is again ranked on a top 10 list that is bleak for real estate. Colorado was ranked tenth for its foreclosure rate in November by RealtyTrac. The Irvine, Calif.-based company said that one out every 433 homes in Colorado was in some part of the foreclosure process last month. Nationally, one out of every 492 housing units is in some state of foreclosure, from the initial notice to the REO. An REO is the final stage of the foreclosure as defined by wikipedia.org: "Real estate owned or REO is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction.[1] A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. This is usually the case as the amount owed on the home is probably higher than the value of this foreclosure property. As soon as the bank repossess the property it is listed on their books as REO and categorized as an asset (non-performing)."

In total, RealtyTrac found 4,970 foreclosure filings in Colorado – 1,549 of them were REOs and 3,409 of them were what it calls Notice of Trustee Sales. RealtyTrac also had 13 what it calls Notice of Defaults. The number of foreclosure filings in Colorado were down 4.5 percent from November 2009, far below the 14.4 percent drop nationally. Foreclosures also were down 13.6 percent in Colorado from October, while nationally, foreclosures were down 21 percent in November from October.

Nationally, foreclosure activity showed a steep decline in November. Read the rest of the story including about the national foreclosure rate from Inside Real Estate News

If you are looking for Colorado homes in foreclosure you can see many of them on COhomefinder. Use the field 'Search for Anything' to type exactly what you're looking for.

For example if you are looking for foreclosure homes in Denver you could search "foreclosure Denver" and view all the listings that have foreclosure in their description and are located in Denver.