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Foreclosures in Northern Colorado

From Randy Nelson/Employing Broker/Owner at Blue Tree Real Estate Ltd, November 1, 2013

Foreclosures for Northern Colorado are getting fewer and fewer. The NED list last week for Larimer county was down to 7, Weld county 7, Adams county (which normally leads the pack and still does today) had 30 and Boulder county had only 4. …The NED (Notice of Election and Demand) is kind of a future snapshot of the upcoming foreclosures 120 days from now . Some of them never see the final foreclosure sale since they can be pulled for a variety of reasons. Bankruptcy, owners redeem, the property is short saled and some banks just don’t want them in their inventory. There is one in Fort Morgan that is at $70K but needs about $30K in repairs but USDA does not want it in their inventory for some reason. The place might be worth about $120 when fixed up but it would take the right person and an approved short sale. Slim possibility on someone buying it as a short sale but that would be the best avenue since if you pick it up at public trustee you would be stuck with all those city fines, water bills, taxes and anything else following the property. Hopefully more will be coming.