Denver, CO (PRWEB) February 22, 2008
New Foreclosure Online, a leading source of foreclosure listings, is seeing an unusually high number of foreclosure homes in the state of Colorado. The number of foreclosure filings in Colorado increased by 40 percent in 2007 compared to the prior year, according to the Colorado Division of Housing. This increase made a noticeable difference in the number of foreclosure homes listed in the New Foreclosure Online database.
In the past, New Foreclosure Online has seen the majority of their listings in states like California, Florida, Nevada and Arizona. But with a total of 39,915 foreclosures filed in Colorado in 2007, the state is quickly becoming a foreclosure hotspot. The number of Colorado foreclosure sales was also up by 45 percent in 2007, so it is clearly becoming a popular setting for real estate investors looking for affordable homes. While Colorado was once considered one of the slowest foreclosure markets, it is quickly turning into one of the fastest.
The experts at New Foreclosure Online believe there are many reasons why the number of foreclosure listings in Colorado has increased. Many of the homes could be a result of real estate speculators who bought homes to flip them for a profit in a short period of time who were unsuccessful. It is more likely, however, that they are a result of home buyers who could not afford to make the payments after their adjustable rate mortgages increased. It is an unfortunate occurrence, but new home buyers are able to buy these properties at extremely low prices as a result.
For more information about foreclosure homes, visit http://www.newforeclosureonline.com.
About New Foreclosure Online:
New Foreclosure Online provides a helpful list of foreclosed homes, which provide buyers with an inexpensive way to find a home. A large database of foreclosed houses is perfect for those who are looking to invest in a virtually risk-free real estate opportunity. With a complete list, buyers can find the home of their dreams, or their next investment. The complete list can also provide information about each foreclosed house or, in some cases, about pre-foreclosed houses and auctions.
Thousands of houses are foreclosed each day in the United States, and even more people are interested in buying one for one reason of another. As soon as they find a house that fits into their budget and preferences, they can buy it. The process is simple, but without this list, finding the house is nearly impossible. By joining NewForeclosureOnline.com, buyers can also find everything they want to know about this market, the legal steps of the process and the possibilities of investment.
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