Denver Luxury Home Foreclosures

Denver Luxury Home ForeclosuresForeclosures are an unfortunate circumstance in any community. Besides the loss to the homeowner, banks that must repossess incur additional costs which put their investment at risk, and neighbors suffer the deterioration of their own property values. However, buyers with the means to purchase these foreclosures can provide a winning solution for everyone involved. Denver Luxury Home Foreclosures are a great deal for buyers who are ready to buy now.

This Denver Post article of February 28, 2013, reports that statewide foreclosure filings were down 24.9% in January compared to January of 2012. Denver County enjoyed the largest decline of all counties at 30.2%. Experts see this drop as “a sign that the worst of the housing crisis in Colorado is over and recovery has begun.”

While this is good news, it means that banks and homeowners are doubly anxious to get pending foreclosures off their hands. But buyers looking for bargains have to consider many potential pitfalls. The home may have been abandoned, stripped or left in disrepair, and it will be the buyer’s responsibility to make all repairs. If the house is purchased pre-foreclosure, the buyer may be required to evict the current residents. Also, there are likely to be unanticipated expenses involved, such as judgments or liens.

Given the potential gains and risks, the consumer journalist linked above strongly advises, “You’ll need competent assistance from a real estate agent, attorney, investor, or other professional familiar with local laws and the real estate market, specifically as they apply to your market’s foreclosure system.” This is where Metro Denver Luxury Homes excels.

Realtor® J. David Lampe and his team have extensive experience in all facets of real estate transactions as well as incisive knowledge of the foreclosure process in Denver County. With up-to-the-minute listings of Denver Luxury Home Foreclosures ready for your perusal, they are standing by to answer your questions.

The improving real-estate market throughout Colorado, but especially in Denver, means that your foreclosure purchase should more quickly rise in value. Take advantage of the foreclosure listings that remain and contact Metro Denver Luxury Homes today.