Metro Denver foreclosures drop 46 percent? Clear the beach!

Hi Karl---

You are right about your gut instincts.  We can almost take our data with a grain of salt.  What we are hearing in Florida is that another cycle of foreclosures is on the way.  The existing short sales, foreclosures, and bank-owned properties are getting dried up, there's a sort of calm before this next storm.

There's a lot of uncertainty out there.  Luckily, even though Florida is a tremendously distressed state (one of our counties just declared a state of emergency due to its 12.8% unemployment and high foreclosures), we, like you, are still a destination state.  We have sunshine, the beaches, etc.  We are in a major cleansing process right now.

Perfect analogy, the tsunami: cleared beaches, no clouds in the sky, an eery calm...and then the big wave returns...

We'll look back on this and have stories to tell---Great post, thanks!

The wave is coming. I've been watching our market and can see it coming.  The Washington Post had 20 pages of Trustee Sales in the paper this week then anyone paying attention has to figure all of those properties are headed to the market.  And this has been going on for months yet our inventory like yours is way down.