I just did some quick research, and found that single-family detached homes that sold in Arvada in the past six months between $130,000 and $140,000 had an 82% distressed rate (foreclosures and short sales). Arvada has been considered less of a disaster than some other areas, so I was surprised to see that high of a number, and decided to do some comparison with other cities.
Westminster had a 63% distressed percentage.
Broomfield had an 88% distressed percentage. (There were only 8 homes sold in that price range in the past six months.)
Golden had a 100% distressed percentage, but there were only two homes sold in that price range in the past six months.
*Denver (141 homes in that price range!) had 55% (I never would have guessed Denver would be lower than Arvada!)
Thornton had 50%. I'm surprised to see Thornton is the lowest, although Thornton is too far east to really qualify as being between Denver and Boulder. But it is usually the place you can find the best deals.
Maybe it's the price range? Looking at single-family detached homes sold as foreclosures and short sales between $200,000 and $250,000 in the past six months:
Arvada - 18% short sales and foreclosures
Westminster - 19% short sales and foreclosures
Broomfield - 16% short sales and foreclosures
Golden - 17% short sales and foreclosures
*Denver - 21% short sales and foreclosures
Thornton - 28% short sales and foreclosures
*There were so many, I just looked over a sample of Denver's sales
Those numbers are a lot prettier than the lower price range! And they're more the spread I would have expected, based on my experiences out there in the'field'.
So if you're looking for a home between Denver and Boulder, remember that you need detailed information from an experienced real estate agent who knows the price range and neighborhoods you're considering. How you handle buying a short sale is different from a foreclosure, which is different from a non-distressed sale. Even amongst short sales and foreclosures there many different kinds, and many different 'rules' to follow.
Happy house shopping!
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Arvada is a historic town between Denver and Boulder in Jefferson County, Colorado. There are many different neighborhood styles and homes prices, all served by well-loved schools. Call me to talk about the kind of neighborhood you dream of living in.
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