Time for some good news in the world of Colorado Real Estate! According to a report released last week by the Colorado Division of Housing, new foreclosure filings in the state of Colorado were down 46.1% the first 9 months of 2013 compared to the same period in 2012.
This puts new foreclosure filings at levels last seen in 2004, and this is a good sign!
Even if you’ve never been in the precarious position of facing home foreclosure yourself, the deluge of foreclosures over the past several years as our nation faced the Great Recession have affected everyone. No matter the state of your own mortgage, if a neighbor next door or down the street experienced home foreclosure or a short sale, the value of your home was likely affected. The tides have truly turned. While foreclosure will still be part of the larger picture of Real Estate, it is no longer the driving force of the market.
So what to do? Count your blessings, and consider your next move. If you’ve been holding on to a property – whether your home or an investment property – waiting for the market to come back around – it’s your time to shine!
So let’s talk turkey. You might be ready to make a move in the next six weeks, or you might be thinking about your options six months down the road. Either way, advice from an experienced professional will give you the edge in the Real Estate market.