The Future is Looking Brighter

By
Real Estate Agent with The MacGuire Team

Well, we all have seen the Colorado Springs real estate news. The media continues to spread Gloom & Doom. But what are the real facts about the current Foreclosure Situation. Here are some recent stats that we think you will find interesting! * 97.4% of all mortgages in the US are current. That means that 2.6% are either late or in foreclosure. It is estimated that .6 are late and 2.0 are in foreclosure. * 75% of all foreclosures occur in 5 states * Florida - heavy investment market Michigan - automobile industry effects California - impacted by soaring values in recent years Nevada - heavy ARM market Arizona - heavy ARM market * The remaining 25% of foreclosures are spread over 45 states. * In Colorado - there currently are 10,000 foreclosures, but many are multiple properties owned by the same person - so there are not 10,000 PEOPLE in default. The cities where there are the most foreclosures in Colorado are Denver and Pueblo.

Comments (4)

Derek and Mariana Wagner
The Artisan Group- Keller Williams Premier Realty - Colorado Springs, CO
The Artisan Group - Colorado Springs REALTORS®
Welcome to Active Rain! I am happy that you posted this. The "National Media" can be so confusing ...
Oct 23, 2007 03:07 PM
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate
Welcome to ActiveRain, Mike! This is exactly the kind of information that agents need to keep writing about to give the public the whole picture. And who better than agents to interpret what the numbers really mean?
Oct 23, 2007 03:37 PM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hi Mike,

Welcome to Active Rain! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

Oct 23, 2007 05:14 PM