Foreclosures in Erie, Colorado
Before you venture into the Erie foreclosure market, you need to decide whether a short sale or foreclosure is better for you. A foreclosure is also known as a bank owned home or REO (real estate owned). These terms all refer to the fact that ownership of the home has reverted to the lender, so buyers will need to negotiate with a bank instead of a private homeowner. At below market prices, foreclosure properties can provide buyers with a great opportunity to buy affordable real estate in the Boulder region. The median price for Erie foreclosures is currently around $240,000.
If you're in the market for a distressed property, but aren't sure if Erie is right for you, be sure to check out our listings in these other areas: Boulder, Louisville, Lafayette, Longmont, and Broomfield.
Erie CO Foreclosure Listings
Want to customize your home search?
Try our fully customizable search feature to find just the homes that fit your needs. Or Register with BoulderCO.com, and you can access complete listing details, take virtual tours of select homes, bookmark favorite listings, save your search parameters, and more. Registration is free and secure.
Erie Bank Owned Homes & Short Sales
Unlike bank owned homes, short sales take place prior to the foreclosure filling, when a homeowner is having difficulty paying their mortgage. Essentially, the homeowner tries to sell his or her home for less than is owed on the mortgage. This requires approval from the lender, but is one way for both parties to avoid the foreclosure process.
For buyers, short sales can be an excellent way to save money on a house, while being less risky than a foreclosure. This is because the homeowner is still living in the house and actively trying to attract a buyer. The homeowner is motivated to sell, so he will care for the house more than someone losing their home to foreclosure.
There are drawbacks however, as short sales can be time consuming and require a lot of paperwork. There's also no guarantee that the bank will approve of a short sale, but if you find a property you love, a short sale might be worth the effort. Our team of Erie real estate agents will be able to recommend properties that make good financial sense.
Want to Learn More About Erie Foreclosures?
Contact the experts at BoulderCo.com for advice about buying or selling a home in Boulder County, Colorado. Contact us online, call us locally at 303.449.7000 or toll-free at 1.800.825.7000.
Terms and Conditions: The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC., DBA RECOLORADO®,. Real estate listings held by brokers other than RE/MAX of Boulder are marked with the IDX Logo. This information is being provided for the consumers personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.
Copyright 2016 METROLIST, INC., DBA RECOLORADO®,. -- All Rights Reserved 6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listing information last updated on August 30th, 2016 at 2:34pm MDT.