Posted on in Colorado
Here is something I’d like to know. How many investor-owned properties were foreclosed in 2007? What about the first half of 2008? My theory is that speculators getting zero-down, stated income, non-owner occupied, negative amortizing loans contributed more to the unraveling of the credit markets than primary homeowners who got a low rate adjustable mortgage. But here’s the rub, where is the the data that supports my theory? It’s not measured! RealtyTrac just announced that Colorado fell to 10th place in September for foreclosure data. The story can be read here http://budurl.com/bwl4. RealtyTrac reports seem more self-serving than a societal benefit. RealtyTrac caters to foreclosure bargain hunters. Reporting these statistics gets RealtyTrac lots of love in the news and the blogosphere and the resulting sensationalism feeds their business model by driving new customers to their service. The problem is that their reporting methodology results in inaccurate measurements and comparisons. There are instances when some Colorado homeowners get counted twice or […]
by jberman