BOULDER COUNTY FORECLOSURE RATE

Posted by DB Wilson on Monday, May 24th, 2010 at 3:00pm.

Foreclosure.  Not a pretty word, its mere mention can bring on a heavy-duty panic attack. Families dealing with traumatic events:  job loss, illness, divorce and death must know that there is help to be had.

“We sometimes forget that behind every distressed property is a distressed family and we need to use every tool at our disposal to help them through a very personal crisis,” said Dave Liniger, RE/MAX International Chairman and Co-Founder. “The new HAFA (Home Affordable Foreclosure Alternatives) Plan provides tremendous incentives for distressed homeowners and their lenders, which speeds up the Short Sale process, and provides a realistic alternative to foreclosure.”

According to a report released this week by Colorado’s Division of Housing, Boulder County had the lowest foreclosure rate among metropolitan Colorado counties in the first quarter of this year, recording one foreclosure sale per 605 households.  Boulder County’s relatively low unemployment rate and its avoidance of the real estate bubble, thanks to the dot-com bust, have contributed to the real estate market’s continued good health in our area.  Simply put, if families keep their jobs, they can pay their mortgages.  Comparing the first quarter 2010 to fourth quarter 2009, Boulder County’s foreclosure filings declined by 1.7% and sales increased by 35.7%. Statewide, the foreclosure activity appears to be stabilizing and has been pretty consistent since 2008. 

RE/MAX of Boulder is dedicated to helping families who are facing financial difficulties and assisting in the navigation of the new HAFA program. If you have questions, please call us at 303.449.7000 or 800.825.7000 or visit http://www.BoulderCO.com

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