AGENT MLS HOME FINDER

The Colorado real estate market continues to suffer from one of the highest rates of foreclosure in the United States, although it does seem to be making at least a gradual effort towards recovery. According to a November 19, 2009 article from the Associated Press in Denver, “Colorado had a record-high number of new foreclosures in the third quarter, when new filings hit 12,468. The quarter ending Sept. 30 was the fourth consecutive quarter in which new foreclosure filings increased. For the year so far, new foreclosure filings in Colorado are up about 18 percent compared to the same period in 2008. The news isn’t all bad, though. Housing officials say Thursday that there are fewer completed foreclosures this year. The total number of completed foreclosures fell 8 percent during the first three quarters of the year when compared to the same period last year.”

In a small bright spot for Colorado homes for sale, the state dropped out of the top ten in foreclosures nationwide. According to a November 12, 2009 article in the Northern Colorado Business Report, “Colorado came in at No. 11 among the states with the highest foreclosure activity in the month of October, dropping out of the top 10 for the first time since March, when it placed No. 12, according to a report by Irvine-based RealtyTrac. The October report shows Colorado’s foreclosure activity dropping by 18.75 percent from September and 6.08 percent from October of 2008.” On the other hand, mortgage rates have fallen, presenting an opportunity for prospective buyers, according to a November 26, 2009 article in the Denver Business Journal. It noted that “Colorado home mortgage rates continue to sink this week, reaching 4.54 percent on a 30-year fixed loan Wednesday, according to Zillow Mortgage Marketplace.”

Home sales of real estate in Colorado continued to remain slow, according to a November 23, 2009 article in the Denver Business Journal. The piece, by Mark Harden, found that “Home resales in Colorado and other western states rose 1.6 percent in October from the previous month and are up 12 percent from a year earlier, the National Association of Realtors reported Monday. The West’s rate of increase in sales of existing homes lagged the nation as a whole, which saw a 10.1 percent sales jump in October from the previous month and a 23.5 percent increase from October 2008, NAR said.”