December 2015 Cedaredge Foreclosure Real Estate Market Report
The bank owned, foreclosure inventory is still very low in the Cedaredge area of Delta County. This market report covers the Surface Creek Area, and that includes the small, mountain communities of Cedaredge, Eckert, Austin and Cory. Here's a look at my last report.
This segment of the market is starting to go away, but there are still a few opportunities available for the buyer that is ready to act now.
Here's a look at the current inventory:
- There are two listings.
- These properties are priced at $101,600 and $317,200.
- There are four properties under contract.
- The inventory changes, so please call me for more information.
There's really not much to report at this time. Foreclosure sales in this area make up less than 8% of residential sales.
If foreclosures are the part of the market you would like to follow, please let me know. I have an email notification program that will basically put the local MLS (multiple listing service) at your fingertips. You will get email notifications when new listings come on the market that meet your specification.
When these properties come on the market, you have to be prepared. When the banks takes on the role of being the sellers of real estate, they have specific requirements and paperwork that must be filled out. All of the bank's requirements must be met, or they won't even look at your offer. If you are a cash buyer, make sure YOUR bank is prepared to get you a proof of funds letter. If you are seeking a loan, you will need to have a pre approval letter from your lender before you can even submit an offer on a foreclosure. Then find an agent that has extensive experience in working with foreclosures. I can help you with that.
I've lived on Colorado's Western Slope for over 26 years. I love this area and all it has to offer, and I enjoy sharing what I know about my home. As a REALTOR®, I also love to share my expertise in this area as well. If you need any real estate information for Montrose County, or Delta County, Colorado...please give me a call.
*This information comes from CREN (Colorado Real Estate Network). Not all homes are listed and sold by the broker writing this report. This report is intended to show market trends.
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