Once COVID hit the Denver metro area, I started getting calls. Those who were laid off or furloughed AND from potential buyers wondering if and when we would start to see distressed housing available again.
Luckily, those clients who called to let me know they were unemployed did get replacement jobs, and did not have to sell after-all. THANKFULLY.
Have we seen more foreclosures or short sales? I looked this morning, and a total of EIGHT foreclosures are in Denver, with a few others around the State of Colorado. There were NO short sales available.
with homeowners seeing so much equity in their homes, they would be wise to list their home and sell prior to foreclosures versus losing so much equity. Buyers would never know they are unemployed, and NEED to sell their home.
This is still a very good time to buy, the interest rates are SO low, it is unbelievable!