There is good news on the Colorado foreclosure front this Christmas. Foreclosures in Colorado’s 12 most populated counties declined last month, according to the Colorado Division of Housing. The number of foreclosures in Colorado’s largest counties decreased 4.2 percent to 2,932 from 3,059 from October to November. Unfortunately, these numbers may provide a bit of … Continue reading Foreclosures Decline in Colorado’s Largest Counties
There is good news and bad news on the Colorado foreclosure front. According to a recent article in The Denver Post, fewer Colorado homeowners are entering foreclosure. That’s the good news, but unfortunately, once they get behind on their mortgages, more of them are losing their homes. As of the end of September, Colorado foreclosure … Continue reading Colorado Foreclosure Update
As the summer winds down, there is good news and bad news for the Denver real estate market. Let’s get the bad news out of the way first. The Denver housing market continues to feel the hangover effect from the homebuyer tax credit that expired at the end of April. The number of homes sold … Continue reading Denver Real Estate Update – August 2010
Denver interest rates have continued to decrease in recent weeks, with the average 30-year loan rate now hovering around 4.5 percent. The average rate on this same loan product was 5.25 percent a year ago. We can’t emphasize enough how important it is to take advantage of these low interest rates, since you may never … Continue reading Denver Interest Rates Continue to Set Record Lows
RealtyTrac released new foreclosure filing statistics last week, revealing that Colorado has the country’s tenth highest foreclosure rate in the second quarter of 2010. Colorado’s foreclosure filings decreased 4.59 percent from the first quarter of this year, but increased 4.73 percent from the same quarter of last year. According to the report, in the second quarter … Continue reading What is Colorado’s Foreclosure Rate?
Where are the most short sales in Denver? According to a recent article in the Business Journal, at the end of the first quarter of this year, there were 2,492 single-family short sales in the Denver real estate market. Which county had the most short sales listed for sale? Arapahoe County had the most listed … Continue reading Where are the Most Short Sales in Denver?
Several states, including California, Florida, Michigan, and Arizona, plan to bail out their troubled homeowners, using a total of $1.4 billion that the Obama Administration is allotting them. The money will go to help unemployed and underwater homeowners with their mortgage troubles. The plans vary by state, but have two things in common – paying … Continue reading States to Bail out Troubled Homeowners
There were some new short sale guidelines implemented last month that are already having a large impact on Denver short sales. While they do not apply to Fannie Mae and Freddie Mac loans, they do apply to any lender participating in the Obama Administration’s Home Affordable Modification Program, including Bank of America and JP Morgan Chase. The new guidelines … Continue reading New Guidelines for Short Sales in Denver
Denver recently tied for 6th place with Los Angeles in CNBC’s, “The Best US Cities to Buy a Foreclosed Home.” The study found that the average foreclosure discount in Denver is 27%, and that the number of foreclosures as a % of resales is 25%. The non-foreclosure median price is $225,000, compared to the foreclosure … Continue reading Avoid Foreclosure in Denver
Banks are Warming Up to Short Sales While banks have notoriously been resistant to short sales, as this recession crawls on, they are beginning to warm up to short sales in increasing numbers. During the first six months of 2009, the number of short sales tripled to 40,000 from a year earlier. Why the change … Continue reading Banks are Warming Up to Short Sales