Foreclosure in Denver>Question Details

C Frank, Both Buyer and Seller in Colorado

I saw the $1MM foreclosed homes on CNNMoney. How do i get $1MM foreclosurer information for Colorado?

Asked by C Frank, Colorado Fri Mar 7, 2008

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C Frank: Free free to sign up for free lists --- of bank owned properties, HUDs, fixers, corporate owned-- and pre-foreclosures. You can sign up for daily lists-- or weekly lists. We are here-- to help you through the process. There are a ton of great deals out there--- waiting for the right Buyer and Investor.
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0 votes Thank Flag Link Fri Apr 11, 2008
I agree with Kent Palmer below. Make friends with someone who has an "in" on the REO business. I am part of the corporate team of REO with Coldwell Banker Residential. Our relationships with the big banks goes deep. There is a way (...) to get a list of foreclosures coming to/already on the market and I can supply one to you. Simply drop me an email from my website. There is a home that comes to mind that was orginally purchased over 1.0 million dollars that went into foreclosure within a year (NOT currently listed in MLS- meaning no competition with the rest of the world). Depending on where you want to live- south? Let me know-
0 votes Thank Flag Link Mon Mar 10, 2008
Hi Frank,
You want to make sure the property has that kind of value. Often you will find that more is owed on a property than it is worth - or will be worth in your lifetime. You are aware of the lender fraud in the state no doubt. There is (to my knowledge) no easy website or avenue to access to just simply find a list of "good deals."
The main concern in any purchase is location - does it support the values you expect? does it have a history of favorable market acceptance? What potental does the location offer (any new projcets to stimulate the surrounding area).
There have been at least 3 or 4 such deals in my own golf course neighborhood in the last 18 months. All were purchased below value and revamped. Fortunately the buyers are stying in the houses for a while I imagine to dodge the cap. gain taxes.
By the way, I am a broker and certified res. appraiser with over 30 years experience, if I could help you make some $$$, Let me know. I also have income properties - it's a fabously time to buy. Like I said Location is everything.....and knowledge is golden.

Warren Petracek GRI, SRES
Broker Associate, Certified Res. Appraiser
0 votes Thank Flag Link Fri Mar 7, 2008
You can do a search at the courthouse, make friends with a top producing REO broker or agent or you could call me. I have lived in Colorado for 37 years many of them in Colorado's most desirable neighborhoods. Not only do I know which million dollar homes have been foreclosed, I know who used to own them and who the builder is and what year which designer won awards for which home. I know Colorado Luxury, I am a fierce negotiator and I know a deal when I see one. If you are serious, I look forward to hearing from you.
0 votes Thank Flag Link Fri Mar 7, 2008
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