Colorado Springs Vintage Homes Blog

Foreclosures in Colorado Springs continue on the upswing

Foreclosures on the rise in El Paso County

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I was doing some research for a couple of clients on foreclosures this morning, and pulled up the current foreclosure reports for Colorado Springs as of November 30th, 2009    We’re definitely still on the upswing for foreclosure filings with a 16% increase in 2009 from 2008.   Last year the average monthly rate for new foreclosures was 384, this year the monthly rate is 446.  Here’s the link to the Report and here’s a quick summary of the last several years:

2004    2,298 Filings

2006     2,570 Filings

2007     3,556 Filings

2008     4,602 Filings

2009     4,910 Filings

The Foreclosure numbers in the Colorado Springs area for 2009 are at an all time high; but when you look at the foreclosures numbers in the 1980s, 3,476 in 1988, the percentage of homes was much higher as the population was vastly different in 1988 vs. 2009.   So maybe it’s not so bad; but still there are plenty on the foreclosed homes on market.

My guess is that this will equate to even more bank-owned properties being listed for sale next year; hence even more important to utilize a Colorado Springs Realtor who knows the market and understands purchasing bank-owned properties.    I recently just obtained the SFR Designation by the National Real Estate Association; which required a variety of classes and webinars and it specifically gives me even more training for buyers wanting to purchase Bank-owned (REO’s) and Short Sales in the Colorado Springs Area.

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Kathy (719-287-1049)   KTorline@msn.com

Tags: colorado foreclosure process, colorado springs co foreclosures, colorado springs foreclosures, El Paso County Public Trustee, foreclosure filings in El Paso County, Short sales & foreclosure Resource Certification, short sales in Colorado Springs

This entry was posted on Thursday, December 3rd, 2009 at 10:00 am and is filed under 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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