Sometimes you have to take what you read and watch in the news with a grain of salt. Then there are times like these, and news like the foreclosure rate in the Denver real estate market.
I've been reading about this trend for months and months, just like everyone else. And I've seen evidence that there are still pockets of real strength in this market. Ever-popular places like Wash Park and Highlands may weather this storm pretty well. Places like Boulder and Louisville and Golden still seem pretty strong.
But I had to take a moment when I realized that 75% of our pending contracts are on short sale and foreclosure properties.
It's sad to say that the market will likely get much worse before it gets better. No new news here, just the continuing realization that we are seeing something extraordinary in this real estate market.
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