Ever wonder where the good news is these days?  Well, here is some food for thought:
 
There are a handful of states causing the negative media coverage, including Ohio, Michigan, and Indiana. The other states causing problems are the previously booming housing markets of California, Florida, Nevada, Arizona, Utah, and Illinois - notice that COLORADO is not on the list! Analysts have stated that the problems in the formerly red-hot housing markets of California, Florida, Nevada, and Arizona, are stemming from speculators walking away from mortgages that they can no longer afford.
 
Here are some other interesting facts:

1. 35% of homes in the United States do not have a mortgage.
2. Approximately 94.88% of mortgage loans are performing.
3. Only 25% of all mortgages are subprime loans, and of these, 75% are performing.
4. The foreclosure problems are mainly in the nine states mentioned above. 
5. The biggest foreclosure problems are in Michigan, Ohio, Nevada, California, and Indiana. Some of these are manufacturing states that have had massive job losses. Since 2001, Michigan has lost over 400,000 jobs. These states would probably have had problems no matter what the market was doing. 
6. The other states experienced significant over building. 25% of the foreclosures in these states are on properties that are held by investors who were speculating.
7. In Colorado (and 42 other states), the number of foreclosures has declined in 2007 and 2008 from 2006.

Buyers waiting to purchase a home when the all-clear signal is flashed will be left sitting on the sidelines. There is no question that there is bad news in some markets. While Colorado isn’t in the top foreclosure list, we’re having our issues, too. What irks me is that there is also a lot of good news that is either being buried or not being reported at all. TeamCox Realtors will continue to post the positive and negative news regarding the Denver housing market.

For more information on the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.

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