Is there a time a foreclosure is good?  Not for the former owners.  It never is a good time for them.  It wrecks their credit and uproots their families. 

But sometimes it's good for a street or a neighborhood.  I point to an example of a street in Greeley Colorado where there is a church that my family and I attend.  This street has quite a few homes on it.  Over the last year or so I've noticed several homes on this street get foreclosed on and then bought by new owners.  Prior to foreclosure the former owners let the maintenance slide and the place falls apart.  By this I mean siding falling off.  Windows broken and just boarded, lawn dying.  I imagine the interior of these Greeley Colorado foreclosures was even worse.  After they were put on the market and have been sold to a new buyer each of these homes has been fixed up and refurbished.  New roofs, sidings, landscaping.  I think most of the people that bought these homes are now living there.  They look great now.  It has really made the street and neighborhood look good.

These days on the news around the country or right here in Greeley Colorado you hear about how the evil banks are taking advantage of homeowners and foreclosing on them.  I don't want to sound heartless, but there are some people that regardless of if they were qualified to buy and own a Greeley Colorado home or not should NOT own real estate.  Some people just don't have the responsibility to own real estate.  I handled two foreclosure listings last year that were a mess when I was able to get in to clean them up.  One was a 1 bedroom condo in west Greeley.  The place just smelled awful.  I'm sure the new owner replaced the carpets.  There was a place where it looked like a dog or a cat continuosly used for a bathroom.  Hair and trash everywhere.  Now this damage didn't just happen when the former owner found they were being foreclosed on.  This shows irresponsibility the whole time this person owned the place.   Then there was the half duplex listing I had.  So much trash everywhere in this house.  Dirty diapers in bags all over mixed with beer bottles.  Once again this abuse of the property started most likely as soon as the former owners moved in. 

There are those that say the lenders took advantage of people that shouldn't have bought real estate.  That may be true.  It also is the government's fault for pushing the lenders to lower their standards so anyone could buy a home.  Even if they couldn't afford it.   

Of my 13 Greeley Colorado area foreclosure listings I handled last year there was only one of them that I felt sorry for.  I never met the former owners, but they left the house clean and the keys on the counter.  The rest were owned by landlords that lost the houses or in the case of the condo irresponsible owners. 

There are many times that people lose their homes for sad reasons.  Such as loss of jobs or medical bills being to much.  Or in the case of the Gateway Estates area in Greeley Colorado a Real Estate developer, an appraisor and a lender taking advantage of people that didn't know what they were signing as they didn't read english that well and were lied to by someone they trusted. 

This Greeley Colorado Foreclosure Market does have a silver lining.   Many responsible buyers that with the previous values of real estate couldn't even hope to buy a home.  Now with stronger lending standards with more money down required and lower sales prices these people can buy a home and start their future. 

If you would like to learn more about buying a low priced foreclosure home in the Greeley Colorado Foreclosure market visit www.greeleycoloradoforeclosures.com.  There you can download a free list of foreclosures that have come on the market in the last week in Greeley Colorado.

For all things Greeley Colorado Real Estate visit www.greeley-weldcountyhomesforsale.com.

If you have questions call me at 970-302-1233 or send me an e-mail using the following form.

Thanks and have a great day!

Marc Oster

Y and M Real Estate LLC

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