Foreclosure Activity Update in the Vail Valley

Foreclosure activity in the Valley seems to have leveled off according to the statistics from the Eagle County Assessor.

The graph below shows the total number of foreclosures filed in Eagle County on an annual basis since 2005.

Vail Valley Foreclosure Filings

The graph below shows foreclosure sales in Eagle County.

Vail Valley Foreclosure Sales

All of these statistics are from the Eagle County Assessor.  I took the liberty of projecting both filings and sales through the end of 2011 based on the current rate through 5/17/11.

Sales are up this year but filings are down which should translate to fewer foreclosure sales in the future.

Does this mean fewer homeowners in the Valley are in distressed properties?  Not necessarily.  This could simply mean that lenders are more actively pursuing short sales rather than foreclosures.  Short sales cost lenders less than foreclosures.

There are still many distressed properties on the market.  Until employment picks up and the number of listings comes down, I think we will continue to see a high level of foreclosures and short sales.

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  1. #1 by Clayton Moore on May 30, 2011 - 10:44 am

    Not trying to be a pessimist nor negative – only informative…
    Before any of our Eagle County Realtor friends break out the Champagne – you might want to read this…

    • #2 by Terry Nolan on May 31, 2011 - 6:20 am

      I agree that the mess in Cordillera will probably impact our local real estate scene negatively. Hopefully cooler heads will prevail and they will get it figured out. I’d hate to see those three courses ruined due to mismanagement.

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