In December 2011 there have been 42 foreclosure actions; 27 with fee simple (100%) ownership, and 15 for timeshares. In December the Summit County Treasurer’s Office issued 18 Public Trustee’s Deeds - 9 for fee simple ownership, and 9 for timeshares.
The breakdown of the type of foreclosure actions for 2011 is as follows. There have been 326 Notice of Election and Demands which is the first step in the foreclosure process. This starts the foreclosure timeline and is not yet a sale of the property. There have been 12 Certificate of Purchase actions which is where the Public Trustee offers the property at public auction. Any purchaser must pay more than the debt itself owed to the lien holder filing the foreclosure action plus any fees. The purchaser has the duty to research whether there are any other outstanding liens on the property. There have been 227 Public Trustee's Deeds in 2011. This is the stage of the process where the holder of the Certificate of Purchase obtains ownership of the entity.
In terms of property types, 161 single family homes, 145 multifamily units, 16 parcels of vacant land, 7 developments, 7 commercial properties, 47 unknown actions, and 182 timeshares in Summit County had foreclosure actions filed against them in 2011. Two hundred and forty-six are in Breckenridge (but note, that all timeshares are in Breckenridge) – only 64 of those were fee simple actions. Forty-three are in Blue River, 42 in Silverthorne, 28 each in Keystone and Wildernest, 27 in Dillon Valley, and 26 in Frisco
In looking back at foreclosure statistics in Summit County, 2009 had 300 NED’s, and 86 Public Trustee Deeds issued. The year 2010 had 367 NED’s and 148 Public Trustee Deeds issued. 2011 rounds out with 326 NED’s and 227 Public Trustee Deeds.
If you have any questions about short sales, bank-owned properties, or foreclosures in Summit County, Colorado, please email me at anakos@yourcastle.org, or call me at 970-389-8388.
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