Colorado Foreclosures: Filings Fall 27 Percent in 2011

The Colorado Division of Housing released a new report today on Colorado Foreclosures. According to their data, new foreclosure notices in Colorado fell 27 percent from the same period in 2010.

Our team is seeing this data play out as the inventory of Denver foreclosures and Denver HUD homes continues to slowly fall. This decreasing inventory is reducing our clients choices on foreclosures and is drastically increasing the number ofr times our clients are forced into multiple bid situations on foreclosures. Our clients have been involved in more than half a dozen multiple bid situations over the past month.

From the Colorado Division of Housing:

Foreclosure filings fell to an 11-quarter low during the second quarter of this year, and although filings rose during the third quarter, they remain near 3-year lows. During the third quarter of this year, foreclosure filings totals were 35 percent below the peak in foreclosure filings reached during 2009. The year-over-year decline in foreclosure filings and in auction sales reflects an ongoing trend that began in late 2010.

If you'd like more specific data for your neighborhood or any area you are thinking or purchasing in, give our team a call at 303-726-1874. We can help you with all of the available foreclosures available and help educaate you on the different types of foreclosures and the process to place bids and make offer.