Foreclosures Accounting for around 19% of Total Sales

November 4th, 2010

Foreclosures Accounting for around 19% of Total Sales

The rate of foreclosure properties is dramatically different throughout the U.S. these days. Many cities are seeing a dramatic decline of foreclosures and thus seeing and leveling off of prices if not a small increasing in real estate values. Others are just in the midst of the foreclosure dilemma. Steamboat is right in the middle. Because of the diversity of real estate owners, we’re seeing a consistent slow stream of foreclosures – and unfortunately it does not seem to be slowing down.

>This article on and the value of foreclosures raises a good questions: if you buy a foreclosed property are you getting a good deal? And in Steamboat Springs, Colorado that’s a very relevant question too. And the answer to this tough question really revolves around the reasoning of buying in the first place. If you’re buying to do a quick flip, I don’t know if I’d recommend buying a foreclosures. On the other hand, if you’re buying to live in the home, or stay in the home as a vacation property and get some great use out of the home, then yes, buying a foreclosed property might be just the value you’re looking for.

Of course there are many foreclosed homes in many different areas and in varying conditions, so it’s best to really work with a knowledgeable agent to recognize the good and bad with each situation.

For more on this topic or questions regarding real estate in Steamboat Springs, feel free to call Charlie at 970-846-6435 or write me an email at: charlie@steamboatsmyhome.com. I will answer your post or email promptly with candid and informed answers. Click here to view all properties in Steamboat Springs in “real time” — This is one of the few real estate sites showing all foreclosed and all short sale listings in real time and updated every few minutes.

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