Fewer Colorado Foreclosures, Three Straight Quarters
For the last three quarters, the foreclosure rate in Colorado has dropped.
The Colorado Division of Housing reports that beginning with the last quarter in 2009, continuing through the first quarter, and into the second calendar quarter of 2010, the foreclosure rate in Colorado has continued to decline.
Foreclosures were down over 15% in the second quarter of 2010 as compared to the second quarter of 2009. Along with that optimistic statistic, the sale of foreclosed homes (REO’s or bank-owned homes) rose almost 18% during the second quarter of 2010, compared to the Q2 2009 stats.
These are great numbers, and it’s exactly what we want to see, both a decrease in foreclosures entering the market, and an increase in the sale of bank-0wned homes. This means the market is continuing to stabilize, and should give us all a more optimistic outlook on the Colorado housing market.
Call, text, or email me today! … I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.
Wondering how Boulder county compares to the rest of the area?
At one foreclosure per 777 households, Boulder County reported the lowest foreclosure rate of the Denver Metro Area.
Larimer and Weld County have also shown a positive sign of recovery with declining foreclosure rates; Weld is down almost 25% compared to last year, and Larimer is down almost 20%.
Whether folks are finding ways to pay their mortgages, finding new jobs, banks are negotiating new terms, homeowners are refinancing, or some combination of all of the above, the news is good and future is bright for Colorado in general, the front range area, and especially Boulder County… so put on your shades.
With record low interest rates, stabilizing markets overall, and continuing real estate market strength in most Boulder County cities and towns, we’re in pretty good shape.
Thinking about buying a new home, or getting ready to sell? It may be time to talk…
Call, Text, or Email me. I will listen to you.
You may also find my neighborhood profiles, and Boulder business profiles informative and useful. They’re both great ways to learn more about what’s going on in Boulder. Call, Text, or Email me today!
-Zachary Epps, GRI, ABR, REALTOR®, full-time RE/MAX professional, and author of the Boulder Real Estate and Neighborhood Guide.
Also, I’m never too busy for your referrals. As a real estate professional intent on giving back to the community, my relationship-based approach is exactly what you’ve been looking for in a helpful RE/MAX Professional.