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.

Read more about foreclosures in Erie, view listings for sale below, or Contact Us to buy or sell Erie real estate.

Erie CO Foreclosure Listings

All Listings $200,000 - $300,000 $400,000 - $500,000
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Home for Sale in Erie at 2272 Dogwood Drive: MLS® 8020512

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Homes for Sale in Erie, CO

$432,500

2272 Dogwood Drive

Erie, CO

  • 4 br
  • 4.0 ba
  • 3,689 ft²
  • 0.15 Acres

Single Family Home

MLS® #8020512

Status Active

Backs To Golf Course With Lovely Open View Of Course And Views Of Mountains (not Many Homes Offer The Kind Of Views You Get With This Property!) Great Floor Plan With Main Level Vaulted Master Suit...

Re/max 100 Inc.

Home for Sale in Erie at 643 Grimson Place: MLS® 737938

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Homes for Sale located at 643 Grimson Place, in the city of Erie, CO 80516

$298,880

643 Grimson Place

Erie, CO

  • 4 br
  • 3.0 ba
  • 3,296 ft²
  • 0.13 Acres

Single Family Home

MLS® #737938

Status Active

Short Sale! 360 Degree Views W/ Lake To The S, Mtn Views To The W, Front Range Mtns & Unobstructed Plains Views. Backs To Open Space & Trails, Walking Distance To Rec & Library, New Charter Academy...

Coldwell Banker Res-canyonblvd

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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.

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Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules. © Copyright IRES.

Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS.

Listing information last updated on October 1st, 2014 at 11:27am MDT.