Taylor Realty Group | Colorado Real Estate ExpertsTaylor Realty Group | Colorado Real Estate Experts

Serving Denver Metro And Boulder County Since 2004!

Serving Denver Metro & Boulder County Since 2004!
Voted 5280 Magazine's FIVE STAR REALTOR (13 Year Winner)
303-669-2744
michael@taylorrealtygroup.net
  • Menu
  • Home
  • Search Homes
    • Featured Listings
    • All Listings
  • Buy
  • Sell
  • Lease
  • Blog
    • See All Posts
    • Buyer Tips & Advice
    • Seller Tips & Advice
    • Market Conditions
    • Mortgages & Loans
    • Homeowner Tips
    • Personal & Biz Updates
    • Just Sold!
  • Resources
    • Preferred Partners
    • Home Wealth Analysis
    • Instant Home Valuation
    • Find Best Realtors in US
    • Community Pages
      • Broomfield, Colorado Community Information
      • Denver Community Page Guide
      • Thornton, Colorado Community Information
      • Westminster, Colorado Community Information
      • Arvada, Colorado Community Information
  • About
    • Get To Know Us
    • Testimonials
    • Let’s Talk! (Contact Us)
    • Just Sold!

Will 2023 See a Ton of Foreclosures? No & Here’s Why

Everyone’s wondering about what the 2023 (and beyond) real estate market will bring. Fewer people are buying their first houses and the market prices have been in the stratosphere making homes less affordable. Given this trend, it’s natural to wonder if we’re going to see a huge correction or even a rash of foreclosures in our future. The signs are actually very optimistic! In today’s post we’re going to explore what those positive signs are & why I don’t think there will be a huge bump in foreclosures in the near future. If you have any questions about this article or want to have an expert consultation with Michael, give us a call today! We can’t wait to hear from you. Now, on to the post!

The Past We Are Not Doomed To Repeat

One of the major contributors to the 2008 crash (and subsequent explosion of foreclosures) was that the banks had their lending criteria so low, it was almost comical. Just about everyone was able to waltz into a lending office and come away with way more home than they could afford or could even use. Homes were cheaper and the dollar was stronger, so the amount of money changing hands in today’s dollars was astronomical. Well, the banks learned a valuable lesson from that 2008 experience and have since tightened their criteria for lending and currently have a much more stable portfolio of mortgage loans on the books. Buyers who have purchased homes since can actually afford them. Barring a catastrophic change in income or employment, they should be just fine and are not just “squeaking by”.

Party Like It’s 1979!

Current foreclosures are as low as they have been in the marketplace since 1979! That means that we are in a veritable golden age of market stability. This should give you confidence in investing your hard earned dollars into today’s and tomorrow’s market. So, that makes all of those bell bottoms you saved in your closet that much cooler.

COVID Was Less Of A Market Impact Than Expected

Some thought we would see foreclosures because of COVID and the forbearance options for homeowners. For those who don’t know, forbearance allowed borrowers to skip mortgage payments for up to a year if they expressed a financial hardship due to COVID. The caveat was that after the forbearance period expired, they must resume making on time payments. At this point, going into 2023, we are well past the forbearance expiration period and most borrowers who were in forbearance are now making on time payments.  Just like people thought the world was ending on December 31st, 1999, Y2K never came to pass, just like this COVID slump that never panned out. Many expected most of the borrowers in forbearance to go into default and this just hasn’t happened.

Don’t Count Out The Power Of Equity

Many homeowners in the current real estate market also have a substantial amount of  equity. If a homeowner gets catastrophically behind on mortgage payments and it goes into foreclosure,  they will most likely list their home and sell it before it forecloses. If we start to see people getting in trouble with their payments the first clue will be a large increase in the number of homes for sale/listed, that isn’t happening based on current market stats.

For The Road

As we move into the new year, keep in mind that the future is bright and the outlook is good in the real estate world. You just have to keep looking forward. Wondering how to accomplish that? Give us a call! We would love to talk to you and to help you along the buying process every step of the way. 

Posted in: Homeowner Tips

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Post navigation

« Buyers Are Like The Slow Boiling Frog & Getting Used To Higher Rates
Today’s Housing Market Is Nothing Like 15 Years Ago »

Blog Categories

    • ►Buyer Tips & Advice (85)
      • Buying Foreclosures (7)
      • Buying Short Sales (4)
      • Mortgages & Loans (9)
      • New Construction & Home Builders (4)
      • Transaction Tips (10)
      • Working With A Realtor (4)
    • ►Seller Tips & Advice (81)
      • Market Conditions/Trends/Insights (8)
      • Listing & Marketing (8)
      • Offers – Negotiating – Closing (4)
      • Choosing A Realtor (4)
      • Short Sales FAQ (5)
      • Thinking About Moving (Deciding If It Makes Sense) (4)
    • Market Updates (62)
    • Homeowner Tips (26)
    • Mortgages & Loans (24)
    • Personal & Biz Updates (32)
    • Weird ‘n Wacky News (4)
Search for:
WHY Taylor Realty Group?
Best Broomfield CO Real Estate Agent RealtorColorado home buyers and sellers need a consultant, not a salesperson. Our “STRATEGIC” approach is committed to providing Expert Guidance & Friendly Personal Service.
  • Unique Marketing System For Sellers = More $$ / Faster Results
    Learn More
  • Buyer Consulting Services = Smart, Confident Purchases
    Learn More

Get Started: Contact Mike Now!

Testimonials: Success Stories

Found Our Dream House

We rented with Michael for 3 years and they helped us looked for our dream house for 2 years.  Great Experience.

Bryce Jensen
Mike is a bulldog

Mike and his team are absolutely wonderful. They are all on top of it and super responsive. Mike is a bulldog and really knows his business. Everything went super smooth. I...

Cassie Jensen
Understands BOTH the Micro AND Macro Housing Trends

Super professional. More importantly Michael is the 1st realtor I’ve interacted with who understands both the micro AND macro housing trends. He also seemed to care about...

Greg Davenport
Honest, Professional and Knowledgeable

Michael sold us our first home and then a few years later we had to relocate and he sold our home for us. He’s honest, professional, knowledgeable and efficient. We were ...

Sean & Alyssa Burroughs
Future Dream Home

Mike and his team got us our starter home when we weren’t sure if we could get a home. Then helped us get our dream home by selling our starter home for more then we coul...

Emily Hauther

Read More Testimonials »

Socialize With Us!

Thinking About SELLING?
Seller Success Guide
  • What’s My Home Worth?
  • First 5 Things To Do
  • Interviewing Realtors: 16 Questions
  • Negotiating Like a Pro
  • Keep The Sale From Crashing

See SELLER Success Guide!

Thinking About BUYING?
Buyer Quickstart Guide
  • Clarify Your Goals
  • Choosing The Best Mortgage & Lender
  • How To Find Best Listings First!
  • Negotiate Best Possible Offer & Make Sure It Closes

See BUYER Quickstart Guide!

Homes For Sale By City

Let's Talk! How can I help?
First Name
Last Name*
Email
Comments
Lead Source

Contact Us

Taylor Realty Group

303-669-2744
michael@taylorrealtygroup.net

1499 West 120th Ave #110 Westminster CO 80234

Get Our Email Newsletter

Explore Cities

  • Arvada
  • Aurora
  • Boulder
  • Brighton
  • Broomfield
  • Castle Rock
  • Centennial
  • Commerce City
  • Denver
  • Englewood
  • Erie
  • Firestone
  • Frederick
  • Greenwood Village
  • Highlands Ranch
  • Lafayette
  • Lakewood
  • Littleton
  • Lone Tree
  • Longmont
  • Louisville
  • Northglenn
  • Parker
  • Superior
  • Thornton
  • Wheat Ridge

Meet Michael, Your Real Estate Agent

Real Estate Agent Broomfield Thornton Westminster Colorado Colorado home buyers and sellers need a consultant, not a salesperson. I specialize in Broomfield, Thornton, & Westminster real estate but am often referred to help people throughout Denver Metro & Boulder County! My commitment to you: Expert Guidance & Friendly Personal Service!
  • 5280 Magazine’s FIVE STAR REALTOR (13 Year Winner)
  • Featured on HGTV!
  • Top 5% of Realtors Nationwide!
  • Full Time CO Realtor Since 2004
logos-325

Meet Michael - Your Consultant

Voted 5280 Magazine's FIVE STAR REALTOR
Based on Overall Client Satisfaction (2010 - 2018) 

Taylor Realty Group | Since 2004

1499 West 120th Ave #110 Westminster CO 80234

© 2025 · Log in · Privacy Policy

MENU
  • Home
  • Search Homes
    • Featured Listings
    • All Listings
  • Buy
  • Sell
  • Lease
  • Blog
    • See All Posts
    • Buyer Tips & Advice
    • Seller Tips & Advice
    • Market Conditions
    • Mortgages & Loans
    • Homeowner Tips
    • Personal & Biz Updates
    • Just Sold!
  • Resources
    • Preferred Partners
    • Home Wealth Analysis
    • Instant Home Valuation
    • Find Best Realtors in US
    • Community Pages
      • Broomfield, Colorado Community Information
      • Denver Community Page Guide
      • Thornton, Colorado Community Information
      • Westminster, Colorado Community Information
      • Arvada, Colorado Community Information
  • About
    • Get To Know Us
    • Testimonials
    • Let’s Talk! (Contact Us)
    • Just Sold!