Colorado Foreclosures Present an Attractive Buying Opportunity for Potential Homebuyers
The market for Colorado foreclosures continue to remain active with over 30,000 foreclosed homes available across the state. The number of homes receiving foreclosure filings during the last month was nominally above the rate for the entire country. In a somewhat unusual situation, some of the highest foreclosure rates are in the more rural and less populated counties.
The overall rate of unemployment in Colorado has tracked very close to the national averages during this current downturn. Colorado has a history of wider economic swings because of the energy and tourism industries. This has affected the foreclosure rates across the state.
All of the towns in this grouping have seen a decline in the prices of foreclosed home sales during the last month.
* The price of Littleton foreclosures fell by 11.91% during the last month. There are 1,476 foreclosed homes on the market with an average price of $243,800.
* The price of Colorado Springs foreclosures fell by 10.69% during the last month. There are 2,646 foreclosed homes available on the market at an average price of $152,600.
* The price of Parker foreclosures fell by 24.2% during the last month. There are 639 foreclosed homes available at an average price of $206,300.
* The price of Westminster foreclosures fell by 8.62% during the last month. There are 337 foreclosed homes available at an average price of $135,200.
* The price of Longmont foreclosures fell by 13.14% during the last month. There are 692 foreclosed homes currently on the market at an average price of $229,900.
* The price of Fort Lupton foreclosures fell by 12.37% during the last month. There are currently 116 foreclosed homes on the market at an average price of $155,000.
Colorado is a very desirable place to live and there has been a significant inflow of new residents from places such as California. The state has a wide variety of attractions, including many real outdoor activities. World-class fly-fishing is available on hundreds of rivers, creeks and smaller streams.
Big game hunting for species such as elk, deer and Rocky Mountain sheep is also found here. A special goal for many mountain climbers is to scale the 53 mountain peaks over 14,000 feet as they can – many have climbed them all.
Because of the desire of many to live in Colorado, now can be the best time to consider the purchase of a Colorado foreclosure. Not only are prices at the lowest point in the last decade, mortgage interest rates are at historic lows as well. These combined make it possible to own a home for less than the monthly rent for a similar unit.
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