Colorado Real Estate

Because of the new data showed Tuesday, the spring selling for this season does not look so good for both sellers and buyers. Foreclosure values are also double-selling.

Home prices in 20 cities almost fell 13 percent compared to last year. The report from S&P’s/Case-Shiller Home Price index shows that foreclosure filings between January and March has hit a new high. The government also claims that the market has hit a record for vacant homes.

David Blitzer, chairman of the index committee at S&P has noted that it gets worse in a month to month basis. The month of February also marked the sixth straight month for all 20 cities which experienced declines. Annual declines is obvious and 17 of the metro experiences this especially in Miami and Las Vegas.

Annual gain of 1.5 percent is only evident in Charlotte, N.C. It is the only city that has reached peak but is also declining month by month.

Home buyers with good credit though, have an abundance of options.

Four foreclose homes, and they still have not won any bids. Partners Jody Hanson and her boyfriend Scott Harrison have been bidding for a house they want but then, there are also a ton of people who wants to bid for a certain house too.

Sales in Las Vegas are foreclosures. One of every 54 household in Nevada received a foreclosure related notice. The state had a worst foreclosure rate in the first quarter according to RealtyTrac Inc.

There are more households this year that received a foreclosure filing notice during the quarter, and is higher compared to last year.

This recent quarter marks the seventh quarter for foreclosure highs.

The market’s slow recovery is also reflected to how people with credit problems experience difficulty in getting loans and paying down payments.

Falling home prices are driving up the number of loan defaults and foreclosures.

The housing crisis is not making it any better for the consumer since this problem is also linked to soaring food and fuel prices. A change to this sentiment has to be something that will turn things around not just the housing crisis, but also the general market for consumers.