The Olympics are on and TV is all about competition right now. We as a country are keeping track, counting our Gold, Silver and Bronze. It’s fun to watch the daily competition as it becomes a nice diversion from the daily troubles. Watching others succeed despite the odds is so positive and uplifting!
When we are talking Olympics, being first place is the goal. Second and third are ok, but first is best.
When it comes to leading the country in foreclosures first place is not where you want to be. That’s when coming in last or at the very least the middle of the pack is so much better.
Year end stats were very kind to Colorado, we fell in the rankings. Instead of being #11 we are now #12. Yippee!
According to RealtyTrac:
A total of 5,029 Colorado properties were in foreclosure in September, or one in every 428 households.
That was down 16% from January 2009.
OK, we’ll take it, gladly.
While I may take joy in the news that our Denver real estate market is improving, I still feel for my associates and homeowners across the country. It’s tough living through a bad real estate market. There’s not much I can offer in the way of help, but I do know things will get better.
Years ago in another down market I lamented to a client who was an REO specialist. He offered words of wisdom (and comfort) to me by telling me things would get better. A market has ups and downs. The market will only go down so far before it becomes very attractive to investors and home buyers then they come back in, invest and the market swings back, up.
Right now some will see the real estate market as the “glass half empty.” Others (the investors) view it as the “glass half full.” Yes, for some who have the cash and the credit, now is a time of great opportunity.
The window of opportunity will not stay open for long, so I ask, “What are you doing about it?”
If you want to search for Homes in Denver, specifically Denver Foreclosures, feel free to use my MLS-IDX site. It was developed with the consumer in mind. Go see for yourself!
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Unfortunately, my market is in 1st place (Las Vegas) and I don’t think we will be relinquishing that position for some time.
Tony, At least your area has lots of jobs, that along should help in the recovery. Am I correct? Or has your job market decreased too?