Tuesday, March 13, 2012

Summit County Colorado Foreclosure Statistics - March 2012 (reporting January 2012 numbers)

Summit County Foreclosure Update for January 2012

In January 2012 there have been 26 foreclosure actions; 18 with fee simple (100%) ownership, and 7 for timeshares. In January the Summit County Treasurer’s Office issued 10 Public Trustee’s Deeds - 5 for fee simple ownership, and 5 for timeshares.

The breakdown of the type of foreclosure actions for January 2012 is as follows. There have been 16 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 0 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 10 Public Trustee's Deeds in January 2012. 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, 9 single family homes, 9 multifamily units, 0 parcels of vacant land, 0 developments, 0 commercial properties, 1 unknown actions, and 7 timeshares in Summit County had foreclosure actions filed against them in January 2012. Thirteen are in Breckenridge, (but note, that all timeshares are in Breckenridge); and 2 each in Blue River, Dillon Valley, Keystone, Silverthorne and Wildernest.

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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