Everyone swears their home is an "investment" and that it is worth xxx amount of dollars, and that the "market price" cannot possibly be misleading. But "Denvers" are happening all over the country. Yet it is said that "experts are taken by surprise."

Rising interest rates, a glut of unsold homes on the market and falling home prices in some submarkets drove up Denver-area real estate foreclosures by more than 30 percent in the first quarter of this year compared with the first three months of 2005. The 31.5 percent jump is the largest year-over-year percentage increase for a quarter in almost two years.

The jump to 4,764 foreclosures compared with 3,624 in the first three months of 2005 took some experts by surprise. Public trustee offices in Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties estimated the number of foreclosures they expect to open this month.

"That is disturbing," said economist Patty Silverstein of the soaring number of foreclosures.