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Foreclosures in Colorado and great opportunities for Colorado Home buyers and Colorado Real Estate Investors.

Foreclosures in Colorado and great opportunities for Colorado Home buyers and Colorado Real Estate Investors.

I took recently a seminar "Foreclosures in Colorado New Changes" and reading today's news and what I got updated in the seminar and the rest of the updates of the homes in Colorado and the situation Nationwide in many cities, Market is getting worst for many Colorado sellers in many areas, but for Colorado buyers is a great opportunity these days that usually not happens often.

Another great opportunity is that Colorado Buyers or Colorado Real estate Investors start buying more homes in Colorado for Rent or to lease and after these Colorado buyers retain and hold these homes for a while (some years) they will re sell them to get a good chunk from great returns.

Some issues involve many homes to be sold in Colorado, but if you are living without any hassle in your Colorado Home, retain it or rent it until market stabilizes better.

According to the data collected in the seminar that I took in Foreclosures in Colorado we are on the 8^th place from all states in foreclosures. Nevada is the 1^st and California is the 2^nd. I am not saying that Colorado is in better shape now. What I am trying to explain is that we started with this problem earlier than other states and right now other states as Nevada and California are worst in foreclosures than Colorado. HPI findings from the Office of federal housing Enterprise Oversight. If you want the to review this report, click it here and get it on PDF

If you need to sell your Colorado homes for a good reason because you are on a distress situation, please call me and I will be more than glad to help you or point you to the right direction. Please take a look of my past articles regarding short sales in Colorado and Colorado Related articles.

Please read the complete news / report here

Posted by Aurora Colorado Real Estate Ray Saenz, Colorado Realtor on 12/01/2007 10:45 PM

Comments (12)

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Originally posted at: Colorado Homes for Sale-Colorado Metro Denver Area Specialists: Foreclosures in Colorado and great opportunities for Colorado Home buyers and Colorado Real Estate Investors.

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12 Comments on Foreclosures in Colorado and great opportunities for Colorado Home buyers and Colorado Real Estate Investors.

DEC

2007

Ray - Foreclosure is an area I have not worked in, but I am certainly educating myself about the process. You seem to have found the seminar informative

Ray - I agree foreclosures can be a great investment as long as the home is priced correctly. Here we have quite a few foreclosures that are currently overpriced for the market.

Ray,

Foreclosures here are very high but I do not see most of them ready to give away the homes. The banks still seem a little reluctant. I think they should think about all the inventory they are going to hold...I think that they could spend up to 50K just to foreclose and maybe they are hoping to recoop some of the expense. I get calls from consumers looking for deals...when they hear the word foreclosure they think everyone is a deal. The banks will really have to look at the absorption rate of inventory to sales.

Ray--I echo what Neal says here. I don't know if the banks are really on board with selling these properties at drastic discounts. Their goal sometimes seems at odds with the homebuyer and they are often slow with the paperwork.

I do believe you are correct in advising homeowners that do not have to move to stay or be willing to price their homes in line with the lower foreclosed pricing.

As real estate is local, the reports are very helpful to those trying to understand where your state fits into the national foreclosure picture.

Good information Ray! Thanks for sharing it!

Good article Ray - it only costs about $8,000 to $15,000 foreclose (at least in most states) but BUT there are other losses such as the 3 or more months of missed revenue from failed payments, having the vacant property generating no income while deteriorating and having to go through the process and paying someone to see that the house is sold. Also, there are generally vacancy maintenance costs while the property is vacant. The problem is there are so many foreclosures right now and while the loss is taken in the year of foreclosure the loss actually becomes documentable and a "real" loss as opposed to a paper loss - that's why the owner holding the paper may not be ready to snap up offers. But don't let that stop you from offering low! Great stuff Ray.

Almost everywhere in the nation, at least in most major metropolitan areas, this is one of the best BUYER'S markets I have ever seen. That window doesn't stay open forever because as the first wave of sales are made the prices stabilize and then begin to increase. So what I am saying to your readers is if you are *thinking* about buying get off the fence because it, as always, will be the pioneers (the first ones off the fence) who reap the greatest benefits.

Ray, It is sad to see there are so many foreclosures everywhere but I'd have to agree that this is a wonderful time to buy a home or vacation house if you are looking.

DEC

2007

Jennifer,

All these seminars for me have been very informative, You always need to see the positive side, and I always learn something new, that's the good thing, even when you are not in foreclosures, believe me that we always learn and we never finish, so I learn together with many of you too many new things on different fields or areas.

Ray Saenz

DEC

2007

Hi Ray, this is great info for your Consumers. You're so right about ALWAYS learning. Keep up the great work!!!

DEC

2007

Ray: It sounds like an investor's dreamland right now. This is a great appeal to them. Good luck!!

DEC

2007

Ray,

Happy Holidays my frined...see you next year!

DEC

2007

Ray - in talking about the investment opportunity is there a market for rental properties or is your vacancy rate low

JUN

2008

Ray, How is the market doing since you posted this? Our foreclosure rate is pretty low here, but with the rising prices of gasoline, etc., it seems to be changing as people try to deal with the fact that their money is not going as far as it has been.

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