Vail Valley Real Estate Blog

While it is difficult to get away from the media frenzy associated with the sub-prime industry and foreclosures, people buying and selling homes and condos in Eagle County Colorado have less to worry about.  According to the Mortgage Bankers Association National Delinquency Survey, 4 states, Colorado not being one of them, is where the biggest problem lies and in 34 states the foreclosure rate is actually decreasing.

Out of the 27,500 whole ownership properties in Eagle County, year to date there have been only 43 foreclosures.  The other good news is that nearly 40% of those get cured before going to sales.  The foreclosure rate on timeshares or fractional ownership has decreased as well from 89 in 2006 to 63 in 2007. Timeshares and fractional ownership make up a large portion or owners in Eagle County and the Vail Valley with the number being in the thousands.

This information is welcome news to home buyers, condo buyers and sellers in the Vail Valley.  This is still an excellent place to purchase property be it investment property, a second home or your full time residence.  If however you are looking for some great foreclosure, you will need to look elsewhere.  Even if a property does go into foreclosure, the lenders know that this is such a great place to buy and sell real estate, that they will keep the property and make money selling them in the future.

For the full article read Mountain Homes & Properties September 14, 2007.  Chris Neuswanger