Tuesday, October 09, 2007

Record Foreclosures in Denver

by Osman Parvez
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A few weeks ago, I had dinner with a friend who had just bought a foreclosed home. A smart investor (and lending officer), he ran the numbers thoroughly and dived-in at a very attractive price.

Foreclosures are truly a cloud with a silver lining. For the previous owners, it was a painful experience but hopefully one they will recover from. For the new buyers, it's a fresh start and if they did their homework, a savvy investment.

There are opportunities out there.

More on the regional impact of foreclosures. From the Rocky Mountain News:

More than 19,000 foreclosures have been filed in the seven-county Denver area in the first nine months of the year, only about 300 shy of the record set for all of 2006.

There were 19,120 foreclosures in the first three quarters of the year, marking a 37 percent jump from the 14,001 filed through September of last year, county public trustee offices said Monday. A record 19,425 foreclosures were filed in 2006.



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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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