There is good news on the Denver real estate front! A recent RealtyTrac report reveals that while Colorado still has the tenth highest foreclosure rate in the country, foreclosures continue to decline across the state. In September, there were 4,855 Colorado foreclosure filings, which equates to one out of every 447 housing units. This is … Continue reading Colorado Foreclosure Filings Down
Colorado’s foreclosure picture continues to improve. Realty Trac recently released updated numbers, revealing that Colorado’s foreclosure activity (during the first six months of 2011) fell 14.7 percent from last year. Colorado’s current foreclosure rate is one out of every 84 housing units. This is great news regarding the health of the Denver real estate market. … Continue reading Colorado’s Foreclosure Picture Continues to Improve
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
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
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
As one of the first Denver-area real estate agents to obtain the title of Certified Distressed Experts, or CDPE, in 2008, we are often asked about short sales – what is a short sale and how does the process work? A short sale is when a qualified homeowner offers his or her lender, in the form of … Continue reading Short Sale Experts in Denver, Colorado
The U.S. Treasury set long-awaited guidance yesterday, through the Home Affordable Foreclosure Alternatives Program, which is designed to expedite the short sale process of homes and for other loan modification alternatives to slow the rising rampant pace of foreclosures. Since TeamCox Realtors, Certified Distressed Property Experts, or “CDPE,” actively helps distressed Denver homeowners facing foreclosure, … Continue reading New Guidelines in Place to Help Denver Homeowners Avoid Foreclosure