Colorado Foreclosures Filings Drop Again in November
Some more good news for Colorado foreclosures this morning. The Denver business journal is reporting that Colorado foreclosure filings dropped over 20% from the previous month and over 24% from November of the past year.
We're seeing these numbers play out in a vastly decreased inventory of foreclosures for our buyers. While there are still some good deal available, you need to be able to move quickly and in many cases, outbid other buyers.
In addition, we're seeing Denver HUD homes moving quickly due to the recent $100 HUD down payment program. This is motivating many buyers who would normally not be in a position to buy.
From the Denver Business Journal:
Colorado saw sharp declines in the number of properties with foreclosure filings in November, both from the previous month and from November 2010, according to a monthly report Thursday from RealtyTrac Inc.
The state had 3,773 properties with filings last month, or one out of every 575 housing units statewide, down 20.22 percent from the October tally of 4,729 properties, or one in 458 properties, according to RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.
If you'd like to talk to our team of experts about the Colorado Foreclosure market of Denver HUD homes, give us a call at 303-726-1874. We can set you up on a daily email alert of all new foreclosures so you don't miss any of the best deals on the market.
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