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
Inside Scoop. Real Estate information and articles from Summit County, Breckenridge, Keystone, Copper, Dillon and Silverthorne, Colorado.
Posts
