Lately, I have been receiving several requests from my website visitors for information on the really good real estate deals in Aspen and Snowmass, Colorado. They mistakenly think foreclosures and short sales are where to find the best deals. What they fail to realize is most of the Aspen foreclosures and short sales are not necessarily good deals because they are upside-down. Most of the time, the foreclosure owners stopped making payments on their property because they owed more money on their property than it is worth. However, occasionally the owner has a good deal of equity and just can’t make his payments due to a decrease or stoppage of their income. While on the other hand by definition, short sales indicate that the owner has negative equity in the property and most times the lender is unwilling to sell the property for less than 80% of the fair market value.
If this is true, where can one find the really good real estate deals in Aspen and Snowmass? Some of the best Aspen and Snowmass real estate deals are the rare bank owned (REO-Real Estate Owned) properties. These would be followed by properties where the owner has substantial equity, but is currently in foreclosure. Last but not least would be the properties where the owner is highly motivated and wants to dump his property at a wholesale price. This final category is many times made up of properties owned by builders that got caught holding during the recession or wealthy owners that can easily absorb the loss. Since about 60% of the Aspen home sales are for cash, there are many Aspen homes for sale where the owner has a substantial amount of equity. It is not hard to identify the best deals if one has the computer skills required to extract data from the MLS into a spreadsheet and sort the properties into an order consistent with the prospect’s requirements by price per square foot. Click here for a free custom spreadsheet based on you specific parameters. I am a National Association of Realtors certified ePro (less than 1% of all Realtors have this designation). I am also a board of directors member of the Aspen MLS. These two facts make me uniquely qualified to work with prospects in finding the best possible real estate deals in the Aspen and Snowmass, Colorado markets. I can be reached at 970 309 3620, jgausnell@roaringforkrealty.com, or www.RoaringForkRealty.com.
Jack Gausnell
Roaring Fork Realty
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