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First Quarter Summary - Bank Owned and Short Sales - by Jean Wolter

The first quarter activity for bank owned properties, in comparison with 2010, in the Winter Park, Grand Lake and Granby areas varies depending on the property type. There is a definite increase in listings. In Granby there are currently 12 Bank owned homes and townhomes available last year there were 7. We have seen 3 homes sold in Granby this year vs. 2 last year. Grand Lakes active bank owned homes have increased from 5 last year to 13 this year, with 1 sold last year and 5 sold this year. Grand Lake is showing the largest increase in active bank owned listings compared with Granby and Winter Park. There are 6 additional bank owned homes and townhomes listings in Winter Park this year with a total of 10. 4 bank owned homes have closed vs. 2 last year. The total increase for the three areas combined is $50% for active listings and 41% for sold homes. The total number of active bank owned condos in all three areas has decreased by 50%. Currently there are 2 active bank owned condos in Granby and in Winter Park and one in Grand Lake. We have seen 2 bank owned condos sell this year one in Granby and one in Winter Park. The bank owned vacant land listings have increased significantly in the Winter Park area. Currently there are 41 vacant lots listed this year. Last year there were 5. Granby has 15 active listings vs. 11 last year and Grand Lake is the same with 4. In general there has been an increase this year in the total active short sale listings with a few decreases here and there. The short sale transactions have increased across the board this first quarter with Granby Condos seeing the largest increase with one short sale sold last year and 8 sold this year. One question that is on everyones mind is how many more foreclosures will we see in 2011? The Grand County Public Trustee foreclosure list is actually down 28% as of March 31, 2011. This year there are 40 properties listed for foreclosure. Last year there were 56. Maybe this is a good sign that foreclosures are slowing down? It is still a fantastic time to find a great deal if you are considering a mountain investment. As always visitour website for a complete list of available Bank Owned and Short Sale properties in the Winter Park, Grand Lake and Granby Areas.

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