During 2008 there was an 81% increase in foreclosures nationwide when compared with 2007. During the same period foreclosures were down 11.8% in the seven county Denver Metro area. Colorado has been in the top five states in foreclosures for the last three or four years (not a good thing). We are ahead of the wave but might not yet be out of the woods.
Factors helping our area include: less speculation during the past 3 years, relatively stable prices (not boom and bust) and an effective Foreclosure Hotline operated by a Colorado non-profit.
Nationally foreclosures are delaying economic recovery and are flooding some markets with low priced distressed homes. Boulder County is seeing far fewer than even most metro area counties and a foreclosure in the City of Boulder is very rare.
Click here to read the nationwide report on foreclosures prepared by RealtyTrac.