Chapter 3: Distressing News about Distressed Sales and Foreclosures!
According to CoreLogic’s December statistics for Colorado, December 2011 delivered 1,870 short sales and bank real estate liquidations (applause!). However, December 2011 had 2,130 completed foreclosures, 260 more foreclosures completed than distressed property liquidations (boo, hiss!). The Statistics for Denver, Colorado are very similar. So, for this recent month foreclosures completed outpaced liquidations by 14%! PLUS, there were 4,359 pre-foreclosure filings – meaning foreclosures started. Wow. Foreclosures started were 105% larger than foreclosures completed. These numbers seem to conflict with the “low inventory” claims from the Denver (Dinosaur) Post. It is easily resolved by recognizing the Government and major banks’ growing inventories of houses foreclosed and mothballed, but not listed for sale. Our borrowers know this market will be her for several more years and we are supporting their efforts to maximize their profits over the long haul.
Check out my other Blog Posts and Free Reports on my Web site for additional ideas about the market. Read more tomorrow on this fascinating subject!
Comments(0)