Saturday, December 24, 2005

Denver and Boulder Foreclosures

by Osman Parvez


Denver and Boulder Foreclosures.

There's a new piece from the Rocky Mountain News proclaiming an increase in foreclosures in 2005. The headlines scream, "Foreclosure Fatigue, '05 worst in 15 years!"

It sounds like the housing market is collapsing, doesn't it? Well the sky isn't exactly falling here in the Denver/Boulder region. Read behind the attention getting headlines.

What do you find? The number of foreclosures isn't adjusted for the base of homes. In other words, it doesn't take into account the greater number of homes (and homeowners) that exist today than in previous years. Buried in the article, this is mentioned, "...in 1988, foreclosures accounted for a greater percentage of the entire housing market than they do today."

The article also notes good news: a slowing rate of increase for new foreclosures, despite rising interest rates.

Finally, in counties where the Realty Unique team is most active (Boulder and Broomfield) there are actually fewer foreclosures this year than last. In the case of Boulder, there are 15.3% fewer foreclosures. Now that's good news indeed!


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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

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