Year-to-date (thru 7/30/12), foreclosure filings are up over the same period last year. Both Arapahoe ounty and Denver County are up 6%. Arapahoe County currently has 2,492 active foreclosures, Denver County has 2,242 active foreclosures - active foreclosures are properties that have received a Notice of Election and Demand (NED) but has not been completed through either auction or cure.
The market is screaming for investment inventory, but anecdotal and personal experience is that the banks are really dragging out the foreclosure timeline. By statue, the time between filing the NED and the foreclosure auction is 110 – 125 days. In reality, this timeline is often more than a year long...
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