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Is 39% off a home possible? YES.

May 31, 2011

Foreclosures are slowly but surely taking over the Colorado market! During the first quarter foreclosures accounted for 30 percent of home sales. The average sales price in Colorado was $176,291, which is 39% below the average price for properties not in foreclosure.

Nationally, foreclosure properties are averaging $168,321, or 27% less than non-foreclosure properties in the same quarter.

RealtyTrac reported the sale of 4,032 homes in foreclosure during the  quarter, down 21 percent from a year ago and 29 percent less than in the fourth  quarter.

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