|Closing Conducted by:||Title Companies, Brokers, Attorneys|
|Primary Foreclosure Method:||Non-Judicial|
|Process Period:||2 - 5 months|
|Notice of Sale:||Trustee|
|Median Property Tax:||0.60%|
|Property Taxes by County:||http://www.tax-rates.org/colorado/property-tax#Counties|
Median Home Value: $501,345
1-Year Appreciation Rate: +19.1%
Median Home Value (1-Year Forecast): +12.1%
Median Sales Price: $526,000 (+18.8% year over year)
New Listings: 11,440 (-1.0% year over year)
Days On Market: 22 (-46.3% year over year)
Inventory Of Active Listings: 8,679 (-44.5% year over year)
Months Of Supply: 1 (-54.5% year over year)
Median Rent: $1,612 (+14.2% year over year)
Price-To-Rent Ratio: 25.91
Unemployment Rate: 6.1% (latest estimate by the Bureau Of Labor Statistics)
Population: 5,758,736 (latest estimate by the U.S. Census Bureau)
Median Household Income: $72,331 (latest estimate by the U.S. Census Bureau)
1 Bedroom $1,345
2 Bedroom $1,595
3 Bedroom $1,916
4 Bedroom $2,304
Tax Lien or Deed: Tax Lien State
Interest Rate: 9% (Plus Fed Rate) (rate is established by adding nine percentage points to the federal discount rate as of September 1, 2007, and rounding to the nearest full percent).
Redemption Period: 3 years until foreclosure can be initiated (non-judicial); plus 120 days after foreclosure initiation. = 3 years, 4 months.
Colorado Auction Practice Site - Daily Practice Auction
Adams County, CO - November - December
Arapahoe County, CO - November - December
Archuleta County, CO - November - December
Denver County, CO - November - December
Grand County, CO - November - December
Mesa County, CO - November - December
Morgan County, CO - November - December
Park County, CO - November - December
Weld County, CO - November - December
Long-term exit strategies look the most promising: Median home values in the Colorado real estate market have escalated almost exponentially in as little as a decade. As a result, deals with attractive profit margins are growing harder and harder to come by. However, passive income investors can navigate around today’s higher prices by renting the property out for an extended period of time. Several years of renting may prove more than enough to offset the extra money it took to secure the deal. Colorado’s current rental rates should generate enough cash flow to justify acquiring higher-priced assets.
Home values will continue to increase: The Colorado real estate market only has about one month of inventory; that's five months less than the typical, balanced market. As a result, demand will continue driving prices higher, just as it has for the last nine years. In fact, some forecasts are calling for an increase as high as 12.1% over the next year.
Inventory will remain tight: The Colorado real estate market is in dire need of housing inventory; it’s part of the reason prices have risen so high. The state only has about 20% of the available housing it would prefer. New construction projects are in the works, but the state needs far more inventory than what is expected to come to the market in the next year. More homes are expected to hit the market, but not enough to satiate current demand.