Foreclosure homes in Evergreen, CO are starting to pop back up again. For a while the area had a very low foreclosure rate. There are a few reasons why the foreclosure rate in Evergreen is so low, appreciation. If anyone started getting behind on their mortgage they would just refi and pull some cash out to keep going. One thing we have noticed in the last year, appreciation isn’t really what it has been the last few years. We are seeing prices level off for now. What that means is that the market may see more foreclosures for sale in Evergreen and the rest of the Denver Foothills.
Buying a foreclosure in Evergreen or anywhere else is tricky. It really isn’t for everyone. I tell my buyers that buying a foreclosure, especially these days isn’t worth it. Foreclosures are a better deal in a buyers market. Because the bank doesn’t want to hold them for for long they take less money to sell the property faster. When the properties are selling fast anyways the bank doesn’t need to discount the price as much.
Throw into that the unknown cost of possible repairs. The bank has never lived in the home so they don’t know the history. The bank does not (usually) fill out a seller property disclosure. This means you might not know of any know issues.
With that being said and you would like to try to purchase a foreclosure in Evergreen please let us know!
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