Colorado Springs Vintage Homes Blog

Banks, how low will they go?

WHAT CAN I EXPECT TO PAY?

For a FREE List of Foreclosures email Kathy Torline at KTorline@msn.com

I am consistently asked by buyers how much they can expect to pay for a Colorado Springs foreclosures.  My research shows that short sales and foreclosure sell for right around 97% to 99% of the list price.    If you think you will get a Colorado Springs foreclosure or a Colorado Springs short sale for 50% off, you are wrong and wasting your time.  These homes are already priced aggressively and ready to move. When you look at the SOLD price for the different categories, bank-owned home sold for 31% less than the “normal” sales in Colorado Springs  Here’s a quick recap of September Sales:

Colorado Springs Foreclosures September 2009

• 114 Foreclosures Sold (14% of the total sales for the month)
• $147,189  Average Sales Price
• 99% Sold for Price  vs. List Price
• Average days on market:  58

Colorado Springs Short Sales September 2009

• 63 Short Sales Sold (8% of the total sales for the month)
• $163,177 Average Short Sales Price
• 97% Sold for Price vs. List Price
• Average days on market:  157

All Colorado Springs Real Estate sales September 2009

• 823 Sales
• 97.2% Sold for Price  vs. List Price
• $214,848 Average Sales Price for Single Family Homes
• Average Days on Market:  74 for Single Family Homes

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Related Articles:

• 8 biggest mistakes made by Colorado Springs home buyers
• Buying HUD homes in Colorado Springs, Part I
• Buying HUD homes in Colorado Springs, Part II
• Colorado Springs HUD Homes – Part III in FAQ’s
• HUD homes available for $100.00 downpayment 

Tags: buying a Colorado Springs Short Sale, colorado springs co foreclosures, Prices for foreclosurse, prices for short sales

This entry was posted on Saturday, October 31st, 2009 at 6:34 am and is filed under For Buyers, Foreclosures and Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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