El Paso County per the Colorado Springs Business Journal reports that foreclosures are up over the previous year.  It should be no surprise that foreclosures are on the rise, but be aware that those numbers present an opportunity for homebuyers looking to capitalize on great deals offered by banks.  The banking community is controlling the number of foreclosures that they are releasing so as to create more demand and limit their losses.  It is speculated that the banks will unleash their bank owned properties in larger numbers in hopes to get them off their books in 2010.  So take a look at this article here, but keep these other realizations in mind while reading the journal.

bank owned, Colorado Springs Business Journal, El Paso County