Monday, January 9, 2012
Summit County Colorado Good Deals for January 2012
Each month I feature good deals in Summit County Colorado Real Estate. Follow this link to see them!
http://summit.mlxchange.com/DotNet/Pub/EmailView.aspx?r=27628316&s=SUM&t=SUM
Happy New Year!
Amy Nakos, JD, GRI
Your Castle Summit Real Estate
anakos@yourcastle.org
970-389-8388
http://summit.mlxchange.com/DotNet/Pub/EmailView.aspx?r=27628316&s=SUM&t=SUM
Happy New Year!
Amy Nakos, JD, GRI
Your Castle Summit Real Estate
anakos@yourcastle.org
970-389-8388
Summit County Colorado Foreclosure Statistics November 2011
Summit County Foreclosure Update for November 2011
In November 2011 there have been 56 foreclosure actions; 29 with fee simple (100%) ownership, and 21 for timeshares. In November the Summit County Treasurer’s Office issued 33 Public Trustee’s Deeds - 9 for fee simple ownership, and 20 for timeshares; the other 4 are unknown.
The breakdown of the type of foreclosure actions for 2011 is as follows. There have been 302 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 209 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, 152 single family homes, 130 multifamily units, 14 parcels of vacant land, 6 developments, 7 commercial properties, 47 unknown actions, and 167 timeshares in Summit County had foreclosure actions filed against them so far in 2011. Two hundred and twenty-five are in Breckenridge (but note, that all timeshares are in Breckenridge). Forty are in Blue River and Silverthorne each, 26 each in Keystone and Wildernest, and 23 in Dillon Valley.
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.
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.
In November 2011 there have been 56 foreclosure actions; 29 with fee simple (100%) ownership, and 21 for timeshares. In November the Summit County Treasurer’s Office issued 33 Public Trustee’s Deeds - 9 for fee simple ownership, and 20 for timeshares; the other 4 are unknown.
The breakdown of the type of foreclosure actions for 2011 is as follows. There have been 302 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 209 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, 152 single family homes, 130 multifamily units, 14 parcels of vacant land, 6 developments, 7 commercial properties, 47 unknown actions, and 167 timeshares in Summit County had foreclosure actions filed against them so far in 2011. Two hundred and twenty-five are in Breckenridge (but note, that all timeshares are in Breckenridge). Forty are in Blue River and Silverthorne each, 26 each in Keystone and Wildernest, and 23 in Dillon Valley.
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.
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.
Summit County Colorado Real Estate Market Conditions - January 2012
Real Estate Statistics
November dips in dollar volume and number of transactions.
Inventory continues to decrease in Winter months.
November 2011 had a total of 114 residential improved transactions, down 22 from October’s 136. Total residential dollar volume in November was $52.8M down from 62.7M in October, a decrease of 15.7%. Ironically, the decrease in dollar volume from September to October last month was also 15.7%.
Dollar volume for all types of property was $58.2 M in November, a decrease of 14% from October’s $67.8 M. Last month decreased by 15% from September to October. Total number of transactions in November for all types of real estate was 142 down 19 from October’s 161. November 2011 dollar volume was down 3% from November 2010 which posted $60.1M in sales.
December 2011 residential sales from our MLS indicate 107 residential properties sold with dollar volume at $51.8 million.
The price point with the most activity in November is the $200,000-$300,000 with 32 sales,. In second place is the under $200,000 price point along with the $300,000-$400,000 price point with 20 sales each.
Average prices from 2006 to 2010 are below; 2011 numbers reflect year to date.
Single Family Homes:
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $745,009 ($750,429 – October, $754,370 - September $768,831))
Multi Family:
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $363,865 ($362,619 – October, $373,023 – September, $376,646)
Vacant Land:
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $255,079 ($252,903 – October, $245,372 – September)
As of January 5, 2012, there are 1,191 active residential listings in Summit County, down 111 from 1,302 at the beginning of December. You can expect inventory to continue to drop until May. The total dollar value of current inventory is $877 million. As of the same date there are 341 land listings, down 32 from November.
With respect to residential listings, average days on the market is 332; median days on the market is 213. Days on market again increased this month because of much less new inventory entering the market. DOM will continue to increase until spring when more new listings come on the market. At that time, expect for average days on the market to drop dramatically.
Our MLS is showing 123 residential properties currently Pending, down 60 from December. Total dollar volume of pending properties per list price is $66.4 million. Pending properties dropped dramatically this month. Closings in January will likely be even lower than in December.
According to Summit County assessor data there are 25,660 residential properties and 2,564 pieces of vacant land. When looking at inventory for sale, 4.6% of residential properties are for sale and 13.2% of vacant land parcels are for sale. Industry experts say that a healthy market has less than 10% inventory.
Industry experts also say that more than 6 months of inventory is a sign of a weak or “buyers” market. With 114 residential properties selling in November and inventory of 1,191, it will take 10.4 months to sell the entire residential inventory.
Below are the total dollar amounts of sales in November from 2004 to 2011:
November 2004 $116.3M
November 2005 $193.5M
November 2006 $138.2M
November 2007 $156.9M
November 2008 $58.0M
November 2009 $64.6M
November 2010 $60.1M
November 2011 $58.5M
Total Dollar Volume for 2004-2010 is as follows:
2004 $1.12B
2005 $1.47B
2006 $1.63B
2007 $1.63B
2008 $1.06B
2009 $683M
2010 $698.4M
The year 2006 had the most dollar volume totaling $1,637,874,800.
What does all of this mean to you?
November 2011 was only underperformed by November 2008, two months after the stock market crash. The market is still sluggish and sellers are not listing properties at this time pushing down inventory numbers. Buyers have less options to choose from an properties are pulled from the market during the busy ski rental season. Consumer confidence in the economy will push many buyers into the game while prices are still competitive.
To the Sellers out there: There are signs that things are getting better – or at least, not getting worse! If you are thinking about listing a property for sale and do not have it rented, it might be a good time to list it while inventory is decreasing and before the spring influx of new inventory.
To the Buyers out there: If you are waiting in the wings for things to get worse, you may not have much more time! There are still good deals out there but once consumer demand picks up, the lack of inventory will go quickly.
November dips in dollar volume and number of transactions.
Inventory continues to decrease in Winter months.
November 2011 had a total of 114 residential improved transactions, down 22 from October’s 136. Total residential dollar volume in November was $52.8M down from 62.7M in October, a decrease of 15.7%. Ironically, the decrease in dollar volume from September to October last month was also 15.7%.
Dollar volume for all types of property was $58.2 M in November, a decrease of 14% from October’s $67.8 M. Last month decreased by 15% from September to October. Total number of transactions in November for all types of real estate was 142 down 19 from October’s 161. November 2011 dollar volume was down 3% from November 2010 which posted $60.1M in sales.
December 2011 residential sales from our MLS indicate 107 residential properties sold with dollar volume at $51.8 million.
The price point with the most activity in November is the $200,000-$300,000 with 32 sales,. In second place is the under $200,000 price point along with the $300,000-$400,000 price point with 20 sales each.
Average prices from 2006 to 2010 are below; 2011 numbers reflect year to date.
Single Family Homes:
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $745,009 ($750,429 – October, $754,370 - September $768,831))
Multi Family:
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $363,865 ($362,619 – October, $373,023 – September, $376,646)
Vacant Land:
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $255,079 ($252,903 – October, $245,372 – September)
As of January 5, 2012, there are 1,191 active residential listings in Summit County, down 111 from 1,302 at the beginning of December. You can expect inventory to continue to drop until May. The total dollar value of current inventory is $877 million. As of the same date there are 341 land listings, down 32 from November.
With respect to residential listings, average days on the market is 332; median days on the market is 213. Days on market again increased this month because of much less new inventory entering the market. DOM will continue to increase until spring when more new listings come on the market. At that time, expect for average days on the market to drop dramatically.
Our MLS is showing 123 residential properties currently Pending, down 60 from December. Total dollar volume of pending properties per list price is $66.4 million. Pending properties dropped dramatically this month. Closings in January will likely be even lower than in December.
According to Summit County assessor data there are 25,660 residential properties and 2,564 pieces of vacant land. When looking at inventory for sale, 4.6% of residential properties are for sale and 13.2% of vacant land parcels are for sale. Industry experts say that a healthy market has less than 10% inventory.
Industry experts also say that more than 6 months of inventory is a sign of a weak or “buyers” market. With 114 residential properties selling in November and inventory of 1,191, it will take 10.4 months to sell the entire residential inventory.
Below are the total dollar amounts of sales in November from 2004 to 2011:
November 2004 $116.3M
November 2005 $193.5M
November 2006 $138.2M
November 2007 $156.9M
November 2008 $58.0M
November 2009 $64.6M
November 2010 $60.1M
November 2011 $58.5M
Total Dollar Volume for 2004-2010 is as follows:
2004 $1.12B
2005 $1.47B
2006 $1.63B
2007 $1.63B
2008 $1.06B
2009 $683M
2010 $698.4M
The year 2006 had the most dollar volume totaling $1,637,874,800.
What does all of this mean to you?
November 2011 was only underperformed by November 2008, two months after the stock market crash. The market is still sluggish and sellers are not listing properties at this time pushing down inventory numbers. Buyers have less options to choose from an properties are pulled from the market during the busy ski rental season. Consumer confidence in the economy will push many buyers into the game while prices are still competitive.
To the Sellers out there: There are signs that things are getting better – or at least, not getting worse! If you are thinking about listing a property for sale and do not have it rented, it might be a good time to list it while inventory is decreasing and before the spring influx of new inventory.
To the Buyers out there: If you are waiting in the wings for things to get worse, you may not have much more time! There are still good deals out there but once consumer demand picks up, the lack of inventory will go quickly.
Friday, December 2, 2011
Good Deals Summit County Real Estate 12-1-11
Each month I provide Summit County Real Estate good deals. These listings contain short sales, foreclosures, bank owned, along with motivated sellers and sellers who are asking to "bring all offers!" If you are interested in seeing the best deals in Summit County, this is the place to start.
For more information on any of these properties, please contact me at 970-389-8388 or anakos@yourcastle.org.
For more information on any of these properties, please contact me at 970-389-8388 or anakos@yourcastle.org.
Summit County Colorado Real Estate Market Conditions - October 2011 Update
October down 15% from September and down 15% Year Over Year.
October 2011 proves to be lowest dollar volume October since 2004.
Absorption Continues to Decrease and Number of Transactions Increase.
October 2011 had a total of 136 residential improved transactions, down 5 from September’s 141. Total residential dollar volume in October was $62.7M down from 74.4M in September, a decrease of 15.7%.
Dollar volume for all types of property was $67.8M in October, a decrease of 15% from September’s $79.8M. Total number of transactions in October for all types of real estate was 161 down only 1 from September’s 160. October 2011 dollar volume was down 15% from October 2010 which posted $79.7M in sales.
November 2011 residential sales from our MLS indicate 108 residential properties sold with dollar volume at $52.3 million.
The price point with the most activity in October is the $200,000-$300,000 and $300,000-$400,000 with 28 sales each. In second place is the under $200,000 price point with 23 sales and rounding out third place is the $500,000-$600,000 price point with 22 sales.
Average prices from 2006 to 2010 are below; 2011 numbers reflect year to date.
Single Family Homes:
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $750,429 ($754,370 - September $768,831 - August, $765,425 – July)
Multi Family:
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $362,619 ($373,023 – September, $376,646 - August, $385,850- July)
Vacant Land:
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $252,903 ($245,372 – September, $251,015 - August, $254,214- July)
As of December 1, 2011, there are 1,302 active residential listings in Summit County, down 106 from 1,408 in November. You can expect inventory to continue to drop until May. The total dollar value of current inventory is $950 million. As of the same date there are 373 land listings, down 6 from November.
With respect to residential listings, average days on the market is 302; median days on the market is 183. Days on market again increased this month because of much less new inventory entering the market.
Our MLS is showing 183 residential properties currently Pending, down 11 from November. Total dollar volume of pending properties per list price is $91.2 million. Pending properties continue to remain steady indicating that the market is not dropping out for the winter months.
According to Summit County assessor data there are 25,660 residential properties and 2,564 pieces of vacant land. When looking at inventory for sale, 5% of residential properties are for sale and 14.5% of vacant land parcels are for sale. Industry experts say that a healthy market has less than 10% inventory.
Industry experts also say that more than 6 months of inventory is a sign of a weak or “buyers” market. With 136 residential properties selling in October and inventory of 1,302, it will take 9.5 months to sell the entire residential inventory. Absorption time in Summit County is becoming shorter, showing signs of an improving market. Note, however, that winter months historically have less inventory.
Below are the total dollar amounts of sales in October from 2004 to 2011:
October 2004 $117.4M
October 2005 $152.6M
October 2006 $188.7M
October 2007 $146.5M
October 2008 $118.2M
October 2009 $92.7M
October 2010 $79.7M
October 2011 $67.8M
Total Dollar Volume for 2004-2010 is as follows:
2004 $1.12B
2005 $1.47B
2006 $1.63B
2007 $1.63B
2008 $1.06B
2009 $683M
2010 $698.4M
The year 2006 had the most dollar volume totaling $1,637,874,800.
What does all of this mean to you?
October 2011 has proven to be the worst performing October since 2004 (the earliest year for which I have records.) in terms of dollar volume. Having said that, number of transactions continues to remain stable indicating that lower priced inventory combined with decreasing property values are driving down the total dollar volume yet the total number of transactions remains fairly steady.
Months of absorption again decreased this month with only 9.5 months of inventory in Summit County. When new listings hit the market in spring, you can expect absorption numbers to increase until the summer selling season again takes that number down.
To the Sellers out there: There are signs that things are getting better – or at least, not getting worse! While still a relatively slow market, absorption time is decreasing and there is less inventory.
To the Buyers out there: Last month I mentioned a situation where buyers looking for property wanted to see ten properties and three were under contract a few days later. A similar thing happened to me just yesterday when I made appointments to see 9 properties and one went under contract and another had an offer being negotiated. There are good deals to be had in this market but the best values will continue to be picked up by buyers who see the opportunity to get into this market during this downturn. I especially see this happening in the under $400,000 market.
October 2011 proves to be lowest dollar volume October since 2004.
Absorption Continues to Decrease and Number of Transactions Increase.
October 2011 had a total of 136 residential improved transactions, down 5 from September’s 141. Total residential dollar volume in October was $62.7M down from 74.4M in September, a decrease of 15.7%.
Dollar volume for all types of property was $67.8M in October, a decrease of 15% from September’s $79.8M. Total number of transactions in October for all types of real estate was 161 down only 1 from September’s 160. October 2011 dollar volume was down 15% from October 2010 which posted $79.7M in sales.
November 2011 residential sales from our MLS indicate 108 residential properties sold with dollar volume at $52.3 million.
The price point with the most activity in October is the $200,000-$300,000 and $300,000-$400,000 with 28 sales each. In second place is the under $200,000 price point with 23 sales and rounding out third place is the $500,000-$600,000 price point with 22 sales.
Average prices from 2006 to 2010 are below; 2011 numbers reflect year to date.
Single Family Homes:
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $750,429 ($754,370 - September $768,831 - August, $765,425 – July)
Multi Family:
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $362,619 ($373,023 – September, $376,646 - August, $385,850- July)
Vacant Land:
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $252,903 ($245,372 – September, $251,015 - August, $254,214- July)
As of December 1, 2011, there are 1,302 active residential listings in Summit County, down 106 from 1,408 in November. You can expect inventory to continue to drop until May. The total dollar value of current inventory is $950 million. As of the same date there are 373 land listings, down 6 from November.
With respect to residential listings, average days on the market is 302; median days on the market is 183. Days on market again increased this month because of much less new inventory entering the market.
Our MLS is showing 183 residential properties currently Pending, down 11 from November. Total dollar volume of pending properties per list price is $91.2 million. Pending properties continue to remain steady indicating that the market is not dropping out for the winter months.
According to Summit County assessor data there are 25,660 residential properties and 2,564 pieces of vacant land. When looking at inventory for sale, 5% of residential properties are for sale and 14.5% of vacant land parcels are for sale. Industry experts say that a healthy market has less than 10% inventory.
Industry experts also say that more than 6 months of inventory is a sign of a weak or “buyers” market. With 136 residential properties selling in October and inventory of 1,302, it will take 9.5 months to sell the entire residential inventory. Absorption time in Summit County is becoming shorter, showing signs of an improving market. Note, however, that winter months historically have less inventory.
Below are the total dollar amounts of sales in October from 2004 to 2011:
October 2004 $117.4M
October 2005 $152.6M
October 2006 $188.7M
October 2007 $146.5M
October 2008 $118.2M
October 2009 $92.7M
October 2010 $79.7M
October 2011 $67.8M
Total Dollar Volume for 2004-2010 is as follows:
2004 $1.12B
2005 $1.47B
2006 $1.63B
2007 $1.63B
2008 $1.06B
2009 $683M
2010 $698.4M
The year 2006 had the most dollar volume totaling $1,637,874,800.
What does all of this mean to you?
October 2011 has proven to be the worst performing October since 2004 (the earliest year for which I have records.) in terms of dollar volume. Having said that, number of transactions continues to remain stable indicating that lower priced inventory combined with decreasing property values are driving down the total dollar volume yet the total number of transactions remains fairly steady.
Months of absorption again decreased this month with only 9.5 months of inventory in Summit County. When new listings hit the market in spring, you can expect absorption numbers to increase until the summer selling season again takes that number down.
To the Sellers out there: There are signs that things are getting better – or at least, not getting worse! While still a relatively slow market, absorption time is decreasing and there is less inventory.
To the Buyers out there: Last month I mentioned a situation where buyers looking for property wanted to see ten properties and three were under contract a few days later. A similar thing happened to me just yesterday when I made appointments to see 9 properties and one went under contract and another had an offer being negotiated. There are good deals to be had in this market but the best values will continue to be picked up by buyers who see the opportunity to get into this market during this downturn. I especially see this happening in the under $400,000 market.
Summit County Foreclosure Update for October 2011 Reported December 2011
In October 2011 there have been 46 foreclosure actions; 36 with fee simple (100%) ownership, and 10 for timeshares. In October the Summit County Treasurer’s Office issued 16 Public Trustee’s Deeds - 7 for fee simple ownership, and 9 for timeshares; the other one is unknown.
The breakdown of the type of foreclosure actions for 2011 is as follows. There have been 279 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 176 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, 142 single family homes, 113 multifamily units, 14 parcels of vacant land, 6 developments, 5 commercial properties, 41 unknown actions, and 146 timeshares in Summit County had foreclosure actions filed against them so far in 2011. One hundred and ninety-nine are in Breckenridge (but note, that all timeshares are in Breckenridge). Thirty-nine are in Blue River, 38 in Silverthorne, 24 in Wildernest, and 22 in Keystone.
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.
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.
The breakdown of the type of foreclosure actions for 2011 is as follows. There have been 279 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 176 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, 142 single family homes, 113 multifamily units, 14 parcels of vacant land, 6 developments, 5 commercial properties, 41 unknown actions, and 146 timeshares in Summit County had foreclosure actions filed against them so far in 2011. One hundred and ninety-nine are in Breckenridge (but note, that all timeshares are in Breckenridge). Thirty-nine are in Blue River, 38 in Silverthorne, 24 in Wildernest, and 22 in Keystone.
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.
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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