Keats Ann Scott, CRS
Colorado Dreams
For Email Marketing you can trust
Colorado Dreams
Broker
PO Box 2808
491 Blue River Parkway
Silverthorne CO
80498
keats@coloradodreams.com
800-571-1091
970-485-0793
Colorado Dreams Broker December 2011 Newsletter
Summit County Colorado ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
in this issue
-- Auction of Bank Owned Properties
-- Update on my listings
-- Happy Holidays
-- Lender News
-- Search the Summit County MLS
-- Bank Owned Properties
-- Find me on Facebook
The holidays are upon us in Summit County. It sounds like bookings are up for the condos and hotels. Now we just need a bit more snow to make everyone happy.
Auction of Bank Owned Properties ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
A property in Heeney that is a bank foreclosure is currently being offered on an online auction at Auction.com. The listing says the minimum bid is $19,000. I've looked at the site before and thought - it's a good example of "this looks too good to be true"
The cabin was a nice remodel on a small lot in Heeney. In fact the original cabin was built in the 30's and was where the foremen that worked on Green Mountain Dam lived. The biggest issue besides the very small lot is that the septic is shared by 3 other cabins in the same area. It sounds like there may be an issue with it because the auction company says the cabin can not be financed.
The online auction process seems intriguing so I just had to check out the fine print. First you must register with a major credit card, the minimum amount is $1,000. If you are expecting to get a loan you must get pre-approval before you make a bid. On the cabin in Heeney cash will be required.
Your only chance to inspect the property is at open houses or by appointment. At that inspection you are expected to do all your due diligence. When you make the bid you are accepting the property as-is.
Even though the minimum bid is $19,000 in the case of the cabin in Heeney. The fine print states that the property will have a reserve price, and if that price is not met then the seller does not have sell the property. There is also a "buyer's premium" 5% or $2,500 (which ever is greater) added to the winning bid. The buyer is also responsible for normal buyer's closing costs.
The winning bidder will receive a purchase agreement to sign, the closing must take place within 45 days. For the right buyer that knew what they were getting into with a property this could be a great deal.
On this property it was last listed for $119,900. and had been for sale off and on since June 2009. It started at $275,000. If you would like to check it out - go to auction.com search for Silverthorne, CO. The auction closes on December 15th.
Update on my listings~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
In Keystone a rare three bedroom condo in the Wild Irishman complex. The floor plan features a spacious open living area with a real wood burning fireplace and sleeps up to 8 without any difficulty. Close to the pool and hot tub. The large deck is great for relaxing and appreciating the beautiful grounds. $289,000. Here's more info, tour and video.
Ski in ski out at the Mountain House in Keystone. Chateaux d Mont is a charming condominium complex at the base of the Keystone mountain. Beautiful grounds surround the stone faced buildings which give a European feel.. This second floor condo has all the bells and whistles with new appliances, wood floors in the kitchen, remodeled master bath and a hot tub right in the unit. Nice big open living area with a focus on the wood burning fireplace. Large kitchen and dining area. In fact this condo is set up to sleep an army with a futon along with beds in each of the three bedrooms. The peaceful deck faces the slopes - what a great place to watch the world go by. Price reduced - now $535,000 More info
The log home in Heeney above the marina closed in late November for $415,000.
Here's the list of everything. The latest information on my listings.
Check them out, now I've got YouTube videos on a lot of them.
Happy Holidays ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I wish you the best holiday season with lots joy.
Just in case you have real estate questions or want check out a property - I do stay in Summit County and am around to help. 800-571-1091
Lender News ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I've had a couple buyers able to take advantage of the great rates and have closed at 4%.
Rates are always changing, if you would like to know what you can qualify for let me know. I can put you in touch with great lenders.
Search the Summit County MLS ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You can search everything for sale in the Summit County MLS from my web site at: www.coloradodreams.com/idx.htm Call me (or email) if you would like the latest list of everything currently for sale.
Go ahead and forward this email on to any friends and family who are interested in Summit County Colorado real estate. Your referral is the greatest compliment you can give me. My toll free number is 800-571-1091 or 970-485-0793 or send an email to keats@coloradodreams.com.
Bank Owned Properties ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Compared to many areas Summit County, which includes Dillon, Silverthorne, Frisco, and Breckenridge Colorado, doesn't have very many foreclosures. Part of the reason is that many of the buyers put at least 20% down when they purchased their property, that gives the owner a little equity so that they can wait for prices to increase again.
You can search the county foreclosure list by following this link. Not all the properties on the list will end up going back to the bank. I do have a list of the bank owned properties that are currently in the MLS here. What is available is always in the state of change, give me a call or email with questions and so I can double check for the latest information. A bank owned property isn't always the best buy, some sellers may have bought their property years ago and can afford to sell for even less tha n a foreclosed property. Depending on the bank, the response time when you make an offer might be weeks, in the mean time you could be dealing with a motivated seller and get a response quick.
Find me on Facebook ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Find me at http://www.facebook.keats.ann.scott.com
I've got a Heeney page set up too. Here's the link. Also - new Heeney Tour on YouTube
Prepared
and maintained by
Keats Ann Scott
Colorado Dreams Broker
1-800-571-1091