Foreclosures are up a bit in Colorado compared with last year, but the market continues to improve across the board. This is still a great time to get into a house with interest rates and values starting to rise.
In article by John Mossman in the Denver Post, he states Foreclosure Filings rose a total of 14% compared to July of last year. The silver lining though, is that this is a much healthier market on the whole…
“While foreclosure filings rose slightly, they are still well below the volumes in 2010,” said Craig Wildrick of Vectra Bank.
“In 2011, many institutions slowed foreclosure filings given the controversy and legal settlements underway. The slight increase also could indicate that lenders are getting through evaluation of delinquent borrows for loss mitigation options, and are initiating the foreclosure process.”
So the good news is that there are still some deals to be had, but things are moving fast in Denver with rates at historic lows.