Locating Colorado Foreclosures For Investment Purposes
There are many web sites and classified ads trying to get your money for foreclosure information. Most of these companies will provide you with a list of pre-foreclosures that may or may not be offered for sale. In my 17 years of tracking, analyzing, buying and selling foreclosures – both as an investor and as a Real Estate Broker – I have found that only about 10% of properties in foreclosure are for sale. The other 90% of folks in foreclosure don’t try to sell for various reasons. They may not understand the short sale process, they may be trying to save the property from foreclosure, they may have abandoned the property, or they may just be burrying their heads in the proverbial sand.
The best way to find foreclosure and pre-foreclosure properties is to find a local, experienced Real Estate Agent that specializes in foreclosures. The agent should be versed in the foreclosure process from start to finish, have experience buying and selling foreclousres, have a database of pre-foreclousres (or at least regular access to them), and be able to advise you on the market value and possible profits (and pitfalls) of investing in foreclosures.
I have 17 years experience in foreclosures, pre-foreclosures and REO sales. I work in the following Counties in Colorado:
Pitkin, Eagle, Garfield and Eagle.
Kimberly McKinley
REOcolorado@gmail.com
McKinley Real Estate Sales
970.379.4559
Uncategorized | dkitchell July 14, 2009
10 Comments to “Locating Colorado Foreclosures For Investment Purposes”
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