Keeping you informed on market statistics, real estate news, and events around town

Thursday, November 10, 2011

Bank owned moving quickly in Eagle County

Sales of bank-owned properties and “short” sales are driving the county's down valley real estate market.

In the lower valley, and especially in Gypsum, there are some bargains available. One bank-owned property is worth more than $180,000 on the county's property-tax rolls. It's on the market at $104,900. An older single-family, one-bedroom home there is listed for less than $90,000.

There were 132 completed real estate sales in the county in September, the highest one-month total since October of 2008. But three years ago, those sales totaled more than $165.3 million. The total for September of this year was just less than $83 million. In fact, September's sales volume was only 35 percent of the total recorded in September of 2010 on 18 fewer sales.

Bank-owned property — about 20 percent of September's total — seems to be moving pretty quickly.

In the Vail Multiple Listing System there are currently a total of 29 Bank owned properties listed for sale as of 11/10/2011. Bank owned can be a perceived value but Buyers should also consider there is value in regular properties for sale.

2 comments:

  1. This really informative post . I have no info about the bank plan. But i thought bank always take right decision .
    Personal Tax Accountants in Toronto

    ReplyDelete
  2. Hello
    If there is true there will be a an extreme increase of homes and lesser demand. Eventually, price of houses will go down.
    Individual Tax Returns

    ReplyDelete