Colorado Springs foreclosed homes and houses for sale come in every conceivable shape and size, to say nothing of price. There are inexpensive condos jostling with moderately priced duplexes and the relatively costly multi-family residences. However, all are listed at tempting discounts on their prevalent market values, and hence, prove attractive options to the prospective homebuyers.
Colorado Springs: Admirable Relocation Choice
Colorado Springs is the region seat and the most crowded city of El Paso County, in the US. It figures among the 50 most populous cities in the nation. Colorado Springs is positioned near the lower base of one of the most well known Pikes Peak, American mountains, at the periphery of the Rocky Mountains. Colorado Springs is about 100 km from the state capital of Denver. A recent issue of Money magazine had adjudged Colorado Springs as the No. 1 Best Big City in “Best Places to Live in”. The suburban cities of Colorado Springs include Calhan, Fountain, Green Mountain Falls, Manitou Springs, Monument, Palmer Lake and Ramah.
Colorado Springs real estate has been predictably affected by the continuing explosive activity relating to the government foreclosures all across the US. In July, 2008, the overall new foreclosure activity in the US totaled 1,589,249, actual sales comprised 66,402, the average foreclosure sales price had been $66,402 and the average saving that the buyers got in terms of a percentage of the market value of homes bought had been 28%. The analogous respective figures in each of the four categories named in the previous sentence for the year ending in July, 2008 were: 9,007,087 new foreclosure activities, 423,713 sales, average sale price of $165,512, and average saving of 29%. According to Forbes magazine, the current top ten markets for buying a foreclosed home are: Charlotte, NC, Raleigh, NC, Nashville, TN, Oklahoma City, OK, San Antonio, TX, Albuquerque, NM, Knoxville, TN, Seattle, WA, Indianapolis, IN and Washington-Arlington-Alexandria, in that order.
Mortgage Officers & Home Agents
Colorado Springs mortgage loans can be expected to be given only by trustworthy officers from 2009. This reassurance flows from the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, which has formulated the setting up of a National Mortgage Licensing System and Registry. Under the aegis of this legislation, it will become compulsory for all those issuing loans as well as all individuals availing themselves of loans to register themselves with the union depository. This will doubtless ensure a welcome screening and purge of the mortgage sector.
Colorado Springs property auctions will be a lot easier for you to unravel and profit from if you allow yourself to be guided by Kristin Spiers, Bob Chandler, Charles Schoninter, Miguel Silva, Stephen Comer, or any other important real estate agent. The agents play the crucial role of matching complementary seller-buyer needs, and of leading to actual sales. Since the agent is compensated from the seller’s sale receipts, you get his expert counseling just free. Scout around for a really good agent before you hire one, because the agent plays a vital role in how you eventually fare at the foreclosure auctions.