It is coming as no surprise. The volume of foreclosed homes included in Colorado foreclosure listings is expected to further rise as the number of foreclosed homes in the state continues to rise. In fact, foreclosures in the state are getting worse. Data released by property tracking firm RealtyTrac Inc, for October 2008, show that Colorado is now the No. 5 top state in terms of volume of home foreclosures.

Colorado is now trailing closely behind Nevada (No. 1), Arizona (No. 2), Florida (No. 3) and California (No. 4) in the list of top states where foreclosures are at their highest. Colorado has jumped from being at No. 10. What has happened? Obviously, the number of foreclosed homes in the state has grown significantly.

As mentioned, the number of houses featured in Colorado foreclosure listings is sure to climb. That is because one home in every 390 houses in the state is now undergoing foreclosure. The number was already sufficient to boost the state's standing in the list of top states with high foreclosures. It will also boost the availability of cheaper foreclosed homes in the market.

Much of foreclosed homes in Colorado are in Weld County, where a home in every 216 households is being foreclosed. Adams County follows Weld in having high foreclosure rate. In October, one in 262 houses is undergoing foreclosure. Overall, across the state, 5,374 households received notices for foreclosures in October. Most of those homes are expected to directly go into repossession by banks and financial institutions.

This should give light to more homebuyers and investors who aim to buy at cheaper costs in Colorado. Most units at Colorado foreclosure listings are available with about 10% to 20% price markdowns from actual home values. Not surprisingly, more people are accessing foreclosure listings in the state.