Buying homes in foreclosure is such a time-honored real estate investment strategy that Foreclosure Investing for Dummies is a book that exists. Bad news, dummies, there aren’t a lot of homes in foreclosure in Denver to buy.
Yep, Denver has had only 996 homes in foreclosure over the past year, according to the latest report from Corelogic. That’s a decrease of 42.3 percent from last year.
The serious delinquency rate in the city, a loose stand-in for relative strength of the city’s housing market is still at 0.9 percent. So again, don’t expect a flood of foreclosure in the city anytime soon.
Dying to hear whether Colorado busted out of that five-way tie for lowest percentage of homes in foreclosure among mortgaged homes? Sorry, the state is still battling it out with Minnesota, Arizona, Utah and Michigan.
That means only 3,824 homes are in the process of foreclosure in the whole state.