For many years, bank owned properties and short sales, provided opportunities around the country for investors or savvy buyers to pick up properties substantially below market value. It wasn't until 2010 and 2011 that Summit County Bank Owned and Short Sale properties started to become available. These listings helped reset the prices and finally create opportunities for buyers dreaming of that Ski Condo or Vacation Getaway, or for those diehard skiers from the Front Range to simply avoid traffic. Even though the there has been minimal bank owned and short sale properties, 1-3% of the available market, it accounted for anywhere from 7-20% of total sales. Banks are motivated sellers and unlike traditional sellers, if the property doesn't move, the Bank will continue to do systematic price reductions until the property does sell.
Currently, the number of bank owned properties and short sales are down 50% over this time last year, which is a good sign for sellers and that the market it turning around. However, prices are still low and there are some great values still to be found. To sign up for a FREE SERVICE to be kept apprised of any new Summit County Bank Owned properties, please visit our website Summit County Bank Owned or call Kellie at 800-931-9947 to set up a time to take a look, who knows, you just might find that 'Dream Home'!