According to state Division of Housing in Colorado, new foreclosure filings fell 16.8% in January. Foreclosures are down a total of 40% from January 2008. Now here’s the good news for buyers looking for Denver Homes For Sale, foreclosure sales at actions are up 19% from the first of this year but down 60.8 percent from January of 08. We need more foreclosure homes for sale in the Denver market, there are investors with billions of dollars just waiting to invest it in real estate. The impact to our economy would be immense if the banks would steadily start feeding these properties into the Denver market vs. the few which have been hitting are bid so high there is no margin for profit.
The county with the largest decline in filing was Douglas. These homes are location in Highlands Ranch, Parker and Castle Rock. Now the largest increase was in Mesa County. And if you are comparing, Foreclosure did increase in all metropolitan county, but the small increase were Denver Homes.
As I mention above, we need these foreclosure to help revitalize the Denver real estate market, contractor, construction sales etc.
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