We have continued to report here on the overall decline in available Denver homes for sale and the latest report from RealtyTrac may explain one of the key factors: Colorado Foreclosures are down an amazing 47% for the first half of 2013 when compared to 2012. The month over month comparison is even more impressive with the month of just showing a 64% drop off compared to June of last year.
While the numbers nationally have been improving, the national drop off for foreclosures is only 23%, meaning that Colorado is seeing twice the improvement that other states are seeing.
From The Denver Business Journal:
The number of foreclosure filings in Colorado from January through June is down nearly 50 percent from the same period of 2012, and the state has dropped to 17th in the nation in terms of filings, according to RealtyTrac Inc.
Colorado had 11,238 properties with foreclosure filings in the first half of this year, down 47.8 percent from the same period a year earlier. That equated to one filing for every 196 household units, said RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.
For the month of June, Colorado’s foreclosure filings fell 64 percent from June 2012 to 1,309 filings, or one filing for every 1,679 household units.
If you are an investor, you are all too aware of the lack of available properties for fix and flips and buy and holds. The competition for these tyoe of homes is fierce and you need to be working with a team of experts to find the right homes and make fast, aggressive bids. Give us a call today to learn how our team of experts can help you thrive in this highly competitive market for Colorado Foreclosures.