Bank Foreclosures in Denver Metro - 1/23/12
The Denver real estate market is very active with buyers looking for a deal or the ability to attain sweat equity. A bank foreclosure is different than a short sale, many times we get an answer within a week! If the property is in a prime location, and in good condition, you will expect to have multiple offers! Some banks are doing improvements and they show pretty well!
In the last couple of months, the median days on market for a bank foreclosure is 62 days and the banks have seen 88.15% of list price!
Some banks will pay closing costs, and very helpful for those first time home buyers!
Here are the results for a few cities in the South side of Denver and ONLY single detached homes. If you have a different city in mind, or a multi-family property, please give me a call!
Ask about the possibility for a 203 Rehab loan for some repairs!
Some banks do not offer FHA financing, and some are CASH only!
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Metro Brokers - House to Home, Inc.
GRI, ABR, CRS, CNE, e-Pro
Joan@JoanCox.com
A Denver Metropolitan Realtor
Joan: This is a good snapshot of the Bank Foreclosures in Denver Metro. I bet local consumers will like the breakout of areas/prices.
Joan, Nice way to show the many opportunities available in Denver and to explain the difference in Foreclosures and Short Sales!
There are some bank foreclosures that will be good for sweat equity, and have shown foreclosures lately where the bank has done quite a bit of work to make the home almost ready to move in.
Joan Cox, Denver Colorado area Realtor® in the know. Call Joan for all your real estate needs and put her expertise to work for you today!
I think foreclosures represent one of the best opportunites on the market right now. It is amazing that the bank's are actually throwing in some repairs to make deals work - it's about time. :)
Joan, Many lenders are paying for improvements such as carpet and paint. They finally figured out that they net more money by doing so. In many cases there are great buying opportunities with bank owned homes.
It's always interesting to see that some neighborhoods have very few foreclosures while other's seem to have the majority. This is very useful for any buyer looking to purchase this type of property.
Heeeeyyy Joan, great report to see these stats for foreclosure in Denver Metro area. I hope you can get some qualified buyer this quarter!
Joan--This report is great way to capture attention of buyers or investors. Hope your phone rings off the hook or your e-mail lights up with incoming messages. Good luck.
Joan, great report for the buyers, many affordable properties for 1st time home buyers and investors. Call Joan the local expert, she will find you some good buy.
Joan - this is such a great report and I really should do one. I keep procrastinating....
Joan,
Great report on the Denver foreclosure market. I'm with Toni, really need to do one myself
Let us all say a little prayer that bank foreclosures will decline during 2012 as the economy turns around.
John, some banks do a great job repairing/painting, etc. to provide a home that is ready to move in.
Debb, I saw a couple this week, I had to look again to make sure it was bank owned! It was beautiful!
Kathleen, there are also some properties that need everything, which allows those investors to what they do best, especially those investors with the knowledge to turn an ugly duckling into a swan!
Morgan, there are a couple areas in Denver that seem to have more foreclosures than others!
Eileen, I had a call from an investor that I will meet today!
Mary, funny it is this type of post that does cause my phone to ring!
Kwee, savvy buyers still know where to look for a great deal!
Toni, I see you got that report done -- good job!
Scott, buyers looking for deals gravitate to these types of posts!
Barbara-Jo, in Denver they are declining already!