Foreclosure Trends 
There are currently 9 blog entries related to this category.
A $75M Investment for Adoba Eco Hotel & Suites
Wednesday, January 9th, 2013 at 10:27am. 262 Views, 0 Comments.
Denver’s Adoba Eco Hotel & Suites, a local hotel developer, recently gained financial boost after it received a $75M investment from Delaware’s M1T Partners LP for its expansion.
An SEC Registered Investment Advisory, M1T uses funds to invest in underfunded opportunistic projects, developmental projects, as well as special situations, as mentioned in a news release.
Adoba President and CEO, Jim Henderson stated that the company is able to create LEED-certified hotels through the construction of new buildings or by renovating existing ones, enabling the creation of green jobs and for the next five years, which will revolutionize the hospitality sector.
Adoba calls itself the hotel sector’s first self-sustaining LEED…
Residential Real Estate Prices in Metro Denver Shoots Back to Records High
Tuesday, January 1st, 2013 at 7:33pm. 258 Views, 0 Comments.
Residential prices are quickly rising back to their pre-real estate bubble prices. This is brought about by a lot of competing buyers and a because of the low supply of available homes. According to Metrolist Inc. statistics is showing an upward trend. Single-family homes have been sold for a median price of $250,000, which is almost the same price back in 2006 before the economy started tanking. The prices of these single-family homes already shot up by 8.8% in October compared to last year’s prices. According to Metrolist Inc., so far that’s the highest rate of increase seen for detached homes since the early 2000s.
But experts are giving everyone a word of caution, not all communities in the area are experiencing the same…
A Great Deal or a Disaster Waiting to Happen?
Wednesday, August 25th, 2010 at 12:23pm. 671 Views, 1 Comments.
With a housing market that continues to slump combined with constant news coverage of a foreclosure tidal wave, many buyers are looking to get in on the action. REALTORS® across the nation have reported a trend in buyers hunting for that great deal on a foreclosed home. Although the current housing market provides some amazing homes at a great value, buying a foreclosed home can still be a risky venture. It is important to know the pros and cons of purchasing a foreclosure.
First off there are different types of properties that are generally referred to as foreclosures. A home that is in danger of falling into foreclosure but is still owned by the homeowner is known as a “pre-foreclosure”. One of the pros to buying a pre-foreclosure is that oftentimes…
Denver Foreclosures Declined 46% In Past Year
Monday, April 27th, 2009 at 3:39pm. 941 Views, 0 Comments.
Foreclosure filings in the Denver metro area declined nearly 46 percent in the first three months of 2009 from the same period a year ago, Denver Business Journal reported. The data is based on figures released by RealtyTrac, Inc. in its “Metropolitan Foreclosure Market Report.” The company is an Irvine, California-based marketer of foreclosure properties.
Among the 203 large U.S. urban areas listed by RealtyTrac, the Denver-Aurora area ranked 60th in foreclosure filings in the first quarter of 2009. One in every 144 households in the area (7,250 properties) was in some stage of the foreclosure process in the first three months of the year, according to RealtyTrac. The total is down more than 22 percent from fourth quarter 2008 and down almost 46 percent…
U.S. Mortgage Rates Fall To 4 Decade Low
Thursday, April 2nd, 2009 at 12:29pm. 869 Views, 0 Comments.
Borrowing money for home loans is now at its lowest level in almost four decades according to today's Denver Business Journal report.
Freddie Mac says the average 30-year fixed-rate mortgage fell to 4.78 percent this week. This is a full 1 percent lower than a year ago and the lowest 30 year rate since Freddie Mac started track rates in 1971. Also, the average one year adjustable rate mortgage hit 4.75 percent this week.
Frank Nothaft, Freddie Mac's chief economist, said “Mortgage rates followed other interest rates lower this week amid reports of slower economic growth. The final estimate of economic growth in the fourth quarter was revised lower and personal incomes fell 0.2 percent in February, below market consensus.”
Denver’s Foreclosure Situation Better Than Portrayed
Saturday, March 14th, 2009 at 2:18pm. 732 Views, 0 Comments.
The Federal Reserve Bank of Kansas City released a study on March 4, 2009 that indicates the foreclosure situation in Denver is not as bleak as it is often portrayed, reports the Denver Business Journal.
Findings in the Federal Reserve’s study show:
- Although up to 46 percent of the adjustable-rate mortgage loans in the Denver area have yet to reset, the recent decline in short-term interest rates should make readjusted rates less painful for those borrowers. For example, the London Interbank Offered Rate [LIBOR] has declined to below 3 percent, which means a reset of around 8.8 percent.
- More than 60 percent of Denver-area subprime loans are current.
- Although more than 78 percent of Denver-area subprime loans have adjustable rates (compared to 65 percent…
Colorado Fares Better Than Most In Mortgage Delinquencies
Wednesday, March 11th, 2009 at 9:13pm. 602 Views, 0 Comments.
Although more Coloradans fell behind on their mortgages in the fourth quarter of 2008, the state fared better than most, according to the Mortgage Bankers Association.
Colorado’s delinquency rate ranked 42nd nationwide in the fourth quarter, with first being the highest rate and 50th the lowest. California, Florida, Nevada, Arizona and Michigan continue to dominate the delinquency numbers.
In 2008, foreclosure activity fell in Colorado for the first time since the state began keeping records in 2003, according to the Colorado Division of Housing. In January, the state ranked 25th nationwide in foreclosures started.
The Denver Business Journal also reported…
More Than Half of Last Year’s Foreclosures Occurred In Only 35 Counties
Tuesday, March 10th, 2009 at 5:09pm. 665 Views, 0 Comments.
Thirty-five counties representing about 20 percent of U.S. households accounted for more than 50 percent of last year’s foreclosures, reports USA Today writer Brad Heath. And about 25 percent of them took place in eight counties in Arizona, California, Florida and Nevada.
Spread over a dozen states, the 35 counties had more than 1.5 million foreclosure actions last year. That number is more than the foreclosures recorded in the entire country in 2006.
In contrast, in more than 650 other counties – about a fifth of the nation – the number of foreclosure actions has actually dropped in the last two years.
Most of the counties leading in foreclosures are clustered in areas, such as Southern California and South Florida, where home values rose dramatically in…
Colorado Foreclosure Trends
Thursday, October 16th, 2008 at 8:45pm. 822 Views, 0 Comments.
On August 5, 2008, the Colorado Division of Housing reported
foreclosure filings rose in the second quarter of 2008 however the rate
of increase is moderating.
The number of foreclosure filings provides a sound view of how many
borrowers have become seriously delinquent and/in default on their home
loans.
During the first quarter of 2008, 11,630 foreclosure filings were
reported by Colorado public trustees. And, in the second quarter, the
public trustees reported 10,875 foreclosures.
January to June 2008, there were 22,500 foreclosure filings and there
were 39,915 filings reported during the entire year of 2007.
Comparatively, the second quarter of 2007 to second quarter of 2008,
Colorado sustained a 9% increase in foreclosure filings.…
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