Colorado Foreclosures: A Value with a View
Photo by Brooks Elliott
There are currently approximately 28,000 Colorado foreclosures in the market. That is a somewhat higher number than other states with a similar population. The unemployment rate in Colorado, currently at 8.5%, has been somewhat lower than the overall US rate.
The economy in Colorado has been somewhat cyclical in the past, in part because the energy business has such a large presence. With huge hydrocarbon deposits, the Colorado shale has more oil than the rest of the world’s proven reserves. The number of Colorado foreclosures has dropped in several of the Front Range towns during the last month:
* The number of Evergreen foreclosures fell by 0.98% during the last month. There are 132 foreclosed homes on the market now at an average price of $440,000. Evergreen is in the mountains just west of Denver and is at an altitude over 7,000 feet.
* The number of Boulder foreclosures fell by 1.17% during the last month. There are 182 foreclosed homes on the market now at an average price of $468,800. Boulder is just north of the greater Denver area and is the home of the University of Colorado.
* The number of Monument foreclosures fell by 1.70% during the last month. There are 83 foreclosed homes on the market now at an average price of $379,300. Monument is located just north of Colorado Springs at the base of the mountains.
* The number of Sedalia foreclosures fell by 1.96% during the last month. Only 1 home went into foreclosure during the last month. The average price of listed homes in Sedalia is $524,900. Sedalia is a small town with a population of only 1,246 in Douglas County, south of Denver.
* The number of Erie foreclosures fell by 2.22% during the last month. There are 105 foreclosed homes on the market now at an average price of $258,600.
* The number of Golden foreclosures fell by 2.65% during the last month. There are 204 foreclosed homes on the market now at an average price of $215,000.
Colorado is known for its exceptional beauty Magnificent mountains, crystal clear lakes, streams and rivers, and skiing resorts all make for a huge array of outdoor recreational opportunities.
For a family looking to start home ownership, now may be the best chance to make that move. Reduced prices for Colorado foreclosures together with historically low mortgage interest rates make a home within reach for many who have been excluded from the market.
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