Steamboat real estate buyers willing to accept the challenge of buying a Steamboat short sale are finding the success rate might be going up. Statewide, short sales in Colorado were 17% of all sales in the second quarter. Last year they were 10%.
Here in Steamboat, the stats don’t differ at all from 2010 to 2011. In 2011, there were 30 potential Steamboat short sale closings. These ranged from a $70,000 Yampa home to to a $2,150,000 home in Catamount Ranch. Nearly 17% of Steamboat short sales were over $1,000,000 in 2011.
Rewind to 2010 at this time, there were surprisingly the same amount– 30–of potential short sale closings. They ranged from a $145,000 Sierra View condo in Oak Creek to five homes between $1M-$2.25M.
Short sales are definitely not for everyone. But if you are looking for a great buy and are willing to be patient and put up with a lot of uncertainty, you might want to put them on your list.