According to this website (realtytrac.com) there are currently 201 foreclosures in Douglas County, which equals one in every 532 housing units.
The foreclosure rate in the United States saw a small downturn in 2011. In fact, it has been reported that every single month except for December during the year 2011 saw its foreclosure rate fall when compared to the same month during the previous year. These statistics mean that the number of foreclosure filings in the United States was down about 30 percent from 2010 – and some specific states saw an even greater percentage decrease.
While the above statistics seem very promising the real estate market and foreclosures in Douglas County are not necessarily out of the woods.
You may remember that in 2011 many mortgage companies halted their foreclosure proceedings as they conducted examinations into their foreclosure practices. At first glance of 2011 foreclosure numbers and percentages it looks like the numbers went down from 2010. However, numbers may actually increase in 2012 due to the backlog and delays associated with the temporary halt in 2011. Banks now releasing their ‘shadow inventory’ will temporarily flood the market with foreclosures, however, banks have guaranteed they will approve and move their foreclosure inventory in a shorter period of time than years before.
Because of this issue alone, foreclosures in Douglas County may see a rise in the coming months. The result of an increase in foreclosures will most likely lead to home prices that will not rise significantly over the next year, more opportunities to purchase homes via short sales, a higher number of REO properties, and better opportunities for buyers to find great deals on real estate in every category.
Because of the number of foreclosures in Douglas County there are still plenty of opportunities for home buyers and investors to find great opportunities.
Anyone who is interested in following foreclosure activity in Douglas County can visit http://www.WiseListingSystem.com to find information on all properties that are currently listed as foreclosures.
Another great resource for anyone who is considering purchasing real estate in Douglas County is CityData.com. This website provides a huge amount of statistical information related to home sale trends, home sale prices, area demographics, and more.
Foreclosures in Douglas County are likely to continue until the economy recovers more significantly than it seems to have over the past few months, which means there will be plenty of opportunities to find great deals on property of all types. Douglas County is one of the most coveted places to live in the State of Colorado and the Wise Listing Team is here to help you find the best opportunities available. Call us today at (303) 814-3684 and we will be happy to provide you with detailed information on how to buy foreclosure properties and realize instant equity. Search Short Sale Homes in Douglas County Colorado Here
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