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Steamboat Springs — Colorado is leading the country in foreclosure rates, but Routt County is not a significant contributor to that rate.

Nearly every foreclosure in Routt County comes through Routt County Treasurer Jeanne Whiddon's office. There have been 40 foreclosures in her office this year; she anticipates another 10 before the year is out.

"I don't think 50 for a county this size is an unreasonable amount," Whiddon said. "Whatever the trend is statewide, we don't see it here."

The number of foreclosures expected in Routt County in 2006 is comparable to recent years, but it is nowhere near the 400 foreclosures that came through the office in a single year during the 1980s when the real estate market took a hit nationwide.

"It can happen here," Whiddon said.

Industry analysts have focused their attention on the Front Range to understand Colorado's high foreclosure rate.

RealtyTrac, an online foreclosure listing service, reported Colorado had the highest rate for the second consecutive quarter. For the third quarter of 2006, there was one new foreclosure filing for every 127 households. That is 2.9 times the national average. To help address the problem, a group of Colorado private-sector and government organizations have set up a hotline that aims to curb foreclosures. The number is 1-877-601-HOPE.

Exerts blame creative and risky financing options that allow people to live in homes they can not afford when interest rates began to rise and short-term loans are due. A massive amount of new construction on the Front Range resulted in a large inventory of new homes, but construction since has slowed, and the economy is stabilizing, said John Kerst, president of First National Bank of Steamboat Springs.

"That's when you find those individuals who have stretched to get into a new home," he said. "The real estate market has definitely slowed down, and that is beginning to affect the markets on the Front Range."

All one has to do to realize the market is still strong in Routt County is look at the large amount of construction occurring, Kerst said.

"We're a small market," Kerst said. "We have been relatively stable in our market, and we have not seen the slowdown like in the Front Range."

The energy and mining industries in Northwest Colorado contribute to a strong regional economy, Kerst said, and while tourism is a big part of the Routt County economy, the area is diverse. "I think we have a good balance between summer and winter tourism," he said.

- To reach Matt Stensland, call 871-4210

or e-mail mstensland@steamboatpilot.com