DENVER CO REAL ESTATE TRENDS -GOOD STUFF!
1) Colorado foreclosures in 2011 reached their lowest level since 2006. New foreclosure filings last year totaled 31,914, down 25 percent from 2010 levels.
2) For the first time in Colorado, landlords and property owners are able to buy rent default insurance, protecting them if a tenant defaults on rent payments. It starts at $250 per year in premiums for properties with rental rates up to $1,200 per month.
3) More banks are offering home owners incentives to sell their houses in a short sale to prevent a costly foreclosure to the bank. In fact, some banks are offering struggling home owners as much as $35,000 to do a short sale.
4) The number of houses sold in metro Denver in January was up 14.6 percent to 2,470, compared to 2,156 the same month a year ago.
5) The apartment vacancy rate in metro Denver was 5.4% in the fourth quarter of 2011 - the lowest year-end rate in 12 years.
6) The 10,443 houses on the market in January was down 41.6 percent in January compared to a year ago, when 17,890 homes were for sale.
Anybody think this might be a solid groundwork for a HUGE year in real estate? You are darn right. Parker CO Homes and Castle Rock CO Homes and ALL homes in the Denver Metro area are poised for a rebound. We are ready.