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Denver Real Estate Blog

Luxury Foreclosures and Short Sales

A small number of Denver luxury properties are available through foreclosure sales or as short sales. If you‚„re in the market for a Denver luxury home, you may be lucky enough to find one of these premium properties at a bargain price. Here‚„s what you shoud know about Denver luxury foreclosures and short sales:

Denver Luxury Foreclosures
Luxury foreclosures are generally any luxury home listed at above $1 million that is offered through a foreclosure sale. You can find lender-owned and bank-owned luxury homes all over the Denver area. This includes sprawling estates, stately homes, equestrian properties, etc.

Click here to see luxury foreclosures currently available in the Denver area.

Denver Luxury Short

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Mortgage rates dropped sharply this week, possibly improving the purchasing power of many home buyers. The 30-year fixed-rate mortgage, the most popular choice among buyers, averaged 4.39 percent this week, its lowest average for 2011, Freddie Mac reported in its weekly mortgage market survey. The 15-year fixed-rate mortgage and the 5-year adjustable rate-mortgage also both reached new historical record lows. 

Rates mostly dropped across the board amid signs of a weakening economy, Freddie Mac says. 

"Treasury bond yields fell markedly after signs the economy was weaker than what markets had previously thought allowing fixed mortgage rates to follow this week with the 15-year fixed and 5-year ARM setting new historical lows, says Frank Nothaft,

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WASHINGTON Oct 2, 2011 Fixed mortgage rates have fallen to historic new lows for a fourth straight week and are likely to fall further.

The average on a 30-year fixed mortgage fell to 4.01 percent from 4.09 percent this week, Freddie Mac said Thursday. That™s the lowest rate since the mortgage buyer began keeping records in 1971. The last time long-term rates were lower was in 1951, when most long-term home loans lasted just 20 or 25 years.

The average on a 15-year fixed mortgage, a popular refinancing option, ticked down to 3.28 percent. Economists say that™s the lowest rate ever for the loan.

Mortgage rates tend to track the yield on the 10-year Treasury note. The 10-year yield has risen this week to around 2 percent. A week ago, it touched 1.74

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Listing information last updated on April 6th, 2020 at 5:49pm MDT.

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