The Numbers are out for the total number of Colorado bank Owned homes that sold in 2013. According to the MLS data, the number of Bank Owned homes sold in 2013 was nearly half of the total number sold in 2012 and just over a third of the total sold in 2011.
We’ve included the chart below and as you can see, the past year of the rapidly improving market for Denver homes has had a major impact on the inventory of bank owned homes.
While this lack of inventory in the foreclosure market is great news for current homebuyers, we’ve seen this decrease in inventory take a significant toll on buyers looking at Denver investment properties and Denver fix and flip homes. With the inventory cut in half, the same pool of investors has been competing for fewer and fewer properties – making the competition fierce.
If you are interested in the investment property market, give our team a call. Many times investment properties never make the MLS. If we know what you are looking for, often times we can find homes for you before the market knows about them. Call us today at 303-726-1874.
Based on information from Metrolist®, Inc. for the period 2010 through 2013 Note: This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.