Many of my clients ask me about foreclosures in Summit County. It seems most are shocked to find that despite national news as to the real estate economy, we are very sheltered here. The foreclosure rate here is extremely low! It is 1/20th of a percent or .05%. That equates to only 1 in 1,995 homes. Here are some links that you may find useful on this topic as well:
http://www.realtytrac.com/MapSearch/FreeSearch.aspx
http://www.realtytrac.com/MapSearch/FreeSearch.aspx?a=b&a=b&searchType=state&statesel=co&accnt=137302
The next question my buyers ask is why. I could go on and on but here are a few of the many reasons.
1) 70% of properties here are second, third, investment properties where the lending guidelines are tighter to begin with. Also as of Dec 30% of all transactions were still cash. So the equity is there.
2) Supply and Demand. Simply what you see is what you get... unlike other parts of the country where new homes were being built at a rate that exceeded the demand, we are almost built out.
3) We are still a very affordable resort area in comparison to Vail, Aspen, Telluride etc.
If you are interested in looking for foreclosures, the best place is to go directly to the assessors page: http://www.co.summit.co.us/Treasurer/foreclosure_info.html
Kaycee
Tuesday, June 17, 2008
Thursday, June 5, 2008
How I ended up in Summit County
This is my very first blog.... When I was contemplating where to start, I realized I should begin with how I came to the place in my life where I began to call Summit County home.
I am from CA and had been living on the beach in San Diego for years. A good friend who I had met there decided to move to Boulder. I planned a vacation in October 2000 to visit her in Boulder. Immediately upon my arrival she was called away for a family emergency but offered for me to still stay and use her car to explore. I spent a few days in Boulder and had heard of Breckenridge so decided to take a drive up. I spent the day in awe of the beautiful mountains. That evening I stopped at the Breckenridge Brewery for dinner and when a group noticed I was eating alone, they offered for me to join them in a game of pool. I was so excited to meet "locals" and we chatted for hours about Summit County and how they arrived here too. Keep in mind that 70% of homes owned here are second/third home owners so most people aren't from here. Everyone has a story!
I drove around the next day and really felt home. I decided right then that I'd move here for the ski season and just enjoy mountain life! So here I am 8 years later. The saying in Summit County goes "you'll come for the winters and stay for the summers." The summers here are perfect! So while I still enjoy the winter activities it is the people who call this home and the summer days that really make Summit County so special to me.
I am from CA and had been living on the beach in San Diego for years. A good friend who I had met there decided to move to Boulder. I planned a vacation in October 2000 to visit her in Boulder. Immediately upon my arrival she was called away for a family emergency but offered for me to still stay and use her car to explore. I spent a few days in Boulder and had heard of Breckenridge so decided to take a drive up. I spent the day in awe of the beautiful mountains. That evening I stopped at the Breckenridge Brewery for dinner and when a group noticed I was eating alone, they offered for me to join them in a game of pool. I was so excited to meet "locals" and we chatted for hours about Summit County and how they arrived here too. Keep in mind that 70% of homes owned here are second/third home owners so most people aren't from here. Everyone has a story!
I drove around the next day and really felt home. I decided right then that I'd move here for the ski season and just enjoy mountain life! So here I am 8 years later. The saying in Summit County goes "you'll come for the winters and stay for the summers." The summers here are perfect! So while I still enjoy the winter activities it is the people who call this home and the summer days that really make Summit County so special to me.
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