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Foreclosures in the Durango real estate market as well as news about other locations.
The Durango real estate market has seen more and more foreclosures. The promise of a couple different banking and mortgage programs stated that the short term process of foreclosures would be held up. The BPO activity as well as the continued Durango property foreclosure listings has remained steady. The surrounding areas in Pagosa Springs and Cortez are still showing higher numbers than the local Durango homes. On a general note the foreclosure properties across the nation have seen a rise over the last several months. The article below shows the highest numbers of foreclosure in seven months.
http://www.youtube.com/watch?v=KHS0jpjwq_k
 
Foreclosures Reach 7-Month High
Daily Real Estate News | Friday, November 11, 2011 Lenders are picking up the pace of foreclosures again, as the foreclosure rate posted its highest level in seven months, RealtyTrac reported Thursday.
A total of 230,678 foreclosure filings were issued in October, a 7 percent increase over September. However, last month’s filings--which include default notices, auctions, and bank repossessions--were still 31 percent below October 2010 levels.  
“The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we’ve been in for the past year as lenders corrected ... more

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