My colleague, Pam Metzger at Colorado Landmark , crunched the numbers and here is the latest on foreclosure activity and bank owned (also called REO which stands for Real Estate Owned) property sales in Boulder County.
As the data below shows, the number of REO properties sold in the 1st quarter of 2009 is down 30% from the same period in 2008, and down almost 14% from the same period in 2007. Prices of bank-owneds in 2009 have crept up only slightly from 2008. Over 60% of those properties were sold at prices below $200,000. This is great news for first-time homebuyers interested in Longmont who want to take advantage of historically low interest rates and bargain home prices. It’s also a great time to pick up a rental property if you are interested in investment opportunities.
hot on elephant
A letter to the Anger that refuses to Leave Me. 1,360 share Learn to Rock your Social Media & Write Mindfully with Waylon Lewis & Elephant’s Editors. 5 shares 2017’s First Full Moon in Cancer: Everything we Want is on the Other Side of Fear. 22,482 shares Why I Snort Raw Cacao. 8,954 shares The Best Marriage Advice from a Divorced Woman. 1,940 share If you Love her, Don’t Destroy Her. 6,213 shares The True Meaning of Friday the 13th (isn’t what we think). 5,208 shares The Power of Saying “He’s just Not into Me.” 1,754 share How to Disentangle ourselves from Karmic Relationships that Drive us Crazy. 134 shares You’ve Ruined Me for Anyone Else. 1,692 share