For 1 out of every 45 Colorado households (or 40,000 families), 2007 was a stress-filled, heartbreaking year. These were the families who lost their homes (for varying reasons) in foreclosure.
For those who lost their homes in this way, their emotional reactions to the event often led them to take everything of value that they could from the home - appliances, light fixtures, wiring, carpet, and more. Some even felt so angry at the bank repossessing the home that they inflicted damages on the house in retaliation. Every foreclosed home has some kind of story like this and you feel for the previous owners.
As we all know, though, one person's heartbreak is another's opportunity. And, here in Denver, incredible opportunities still abound in the foreclosure market. Buyers and investors for these kinds of homes will find opportunities that span the gamut. Some homes will be in good shape and require minimal repairs for move in, while others will have so many missing parts and damages it will require a close, careful evaluation of repair/rehab costs for use in determining final purchase price.
If Denver foreclosures are of interest to you, I am here to help. Just call me at (303)956-5292.