Steamboat Foreclosures - Spring Update
We are seeing more signs of stabilization in Colorado with Foreclosures down 40% in April and 7 months straight as measured in the 12 largest counties. This gives a a pretty good trend in some regards but may be influenced by the delays caused by poor management of documentation at the banks. See the article here.
Foreclosures will still be high in Steamboat Springs in 2011 but buyer demand is meeting with banks that are increasingly more realistic and we are moving through them at a decent pace. This is also true for short sales as more of the banks price to the market to avoid foreclosure. I had a good conversation with the Routt County Treasurer about a week ago and she is seeing Foreclosure activity level off some. You can search Steamboat Foreclosures and Bank owned properties , this also includes Short Sales.
Right now the opportunity is the chance to get some of the best properties at very good prices before we are down to the leftovers. This has some people looking more seriously for the right property. In some segments there isn't much in the way of quality properties left even though by the numbers suply is high but in others there are still some choice ones out there.