Aspen, CO

Aspen Foreclosures | Search Foreclosures in Aspen Co

Click the link below to see all foreclosure Listings in Aspen Colorado. Including Condos, Homes and Lots For Sale.

Aspen Colorado Foreclosures and Short Sales - Click Here!

Free Foreclosure Report. Be the first to find out about aggressively priced foreclosures and short sales by joining the Lovelace Realty Foreclosure and Short Sale email list. Click here to join today!

Our Aspen Colorado Foreclosure Search is the most accurate and up to date MLS search Available. This search is free and there is absolutely no obligation. The results are updated in real time! I am a "Certified Distressed Property Expert" and I would love to help you find a great deal on an Aspen Colorado Distressed Property. Feel free to call or email me any time you have questions. I am awaiting your call

Ken Lovelace, Broker, CDPE "Certified Distressed Property Expert"

lovelacerealty@gmail.com

970-367-6363

www.LovelaceRealtyWest.com

Aspen Colorado Foreclosure Search - Click Here!

Condo Hotel Financing in Aspen CO and Vail CO

We are announcing the release of condo hotel financing in Aspen and Vail Colorado, available for the first time in several years since the housing crisis took hold.

What is a condo hotel?

A condo hotel is a condo that is located in a complex that allows daily or weekly rentals and has common areas such as a lobby and/or front desk. This type of property is very common in Aspen and Vail, and it was impossible to find condo hotel financing before this program was released, making selling or buying a condo hotel property very difficult if not impossible.

New Condo Hotel Financing Summary

This program is designed to help fill the needs of customers who need condo hotel financing for projects in Aspen and Vail CO.

Some features of the new condo hotel financing program are:
o Second Home and Investment Properties allowed,
o Purchase and rate/term refinance transactions.
o 35% down payment or equity required.
o Condo hotel financing available for loan amounts up to $650,000.
o 3/1, 5/1 and 7/1 LIBOR ARMs available.
o Minimum credit score of 720.

Condo project must be approved by our Condominium Review Department and meet the following criteria in order to qualify for condo hotel financing:
o Established projects - Project must be 100% sold and the HOA turned over for 12 months.
o Established management company - only projects that contract with managing agents with a successful track record of managing condo-hotel properties will be considered. Must submit marketing package for the management company.
o Minimum 20 units in the project.
o Minimum unit size of 1000 square feet; smaller units may exist within the development, but will not be eligible for condo hotel financing under this program.
o Eligible projects may not include any timeshare units or other fractional share ownership structures.
o No one entity may own more than 10% of the project.
o Commercial space limited to no more than 20% of the project; all commercial space must be leased.

Ask about your Condo Hotel Financing needs in Aspen or Vail!

When it comes time to refer a client to another Realtor™, one should make sure they are picking one that is qualified to do a really good job. It is important to choose a Realtor™ that knows the local referral market extremely well, and has a top notch reputation for ethics, honesty, and work ethic.I know the Aspen and Snowmass, Colorado real estate market extremely well and have an extremely good reputation for putting my clients interests first. The person you refer your client to will be a direct reflection on you. Your client(s) may know their home market, but will probably know very little about the referral market, so they will need a guide to point out the best deals in the best areas.

I started selling real estate in the Aspen/Snowmass market in 1996 and have a reputation of being one of the top Realtors™ in the area. I have a GRI (Graduate Realtor™ Institute), ePro (Computer/Internet Savvy), and CNE (Certified Negotiation Expert) certifications. I have an extensive computer background and am a board of director member (Treasurer) of the Aspen Board MLS. This gives me the ability to extract client specific data from the MLS and produce spreadsheets that help point out the best deals that match the client’s requirements and desires.

When I receive a referral, I make sure I keep the referring Realtor™ informed with periodic updates as to my progress with the referred client. If the referral results into a closed transaction, I provide the referring Realtor™ with a 25% referral fee paid immediately upon closing. I currently receive much of my business from referrals from both fellow Realtors™ as well as clients. If you have a client that is considering Aspen or Snowmass Village, Colorado real estate, please give me a call at (970) 309 3620 or drop me an email at jgausnell@RoaringForkRealty.com. I can also be reached at our website at www.RoaringForkRealty.com.

Jack G. Gausnell
Roaring Fork Realty

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

In the summer of 2009 the Aspen, Colorado condo inventory peaked at about 400 units on the market. Over the past couple of years, this number has slowly eroded to about 200 which is about a 3.2 year supply at the current absorption rate. At the same time, the average asking price has fallen about 44% from a high of about $1,500/square foot in late 2008 to roughly $950/square foot today. In addition, the average days on market has steadily increased over the past couple of years to 316 days. In 2009, 54 condos sold in Aspen for a total dollar sales volume of $75.6M. In 2010, the total volume of condo sales increased 13% to $85.5M with 63 closings.

What do all of these numbers mean? They mean that the market has hit bottom and is now beginning to come back. The first thing that had to happen for a “comeback” was for the inventory to come down. As mentioned above, this happened with the inventory being reduced by about 50% during the past two years. Does this mean the market is now turning toward being a sellers market? To determine the answer to this question one has to look at the Market Action Index which measures the supply relative to the current level of demand and average days on the market for unsold properties. It is a collective index of all market factors combined and an early indicator of future market trends. An index value above 30 indicates conditions favorable to sellers – seller’s market. Whereas, a value of under 30 indicates the market is getting more favorable for buyers. Since early 2007, the Market Action Index fell from above 30 to a low of about 3. During the past year, the index has risen to about 11 signaling the market is still very much a buyer’s market. It is estimated that with the current rate of improvement, it will take about 18 to 24 months before this market will reach equilibrium between being a buyer’s or seller’s market. Consequently, during the next year plus there will continue to be some extraordinary deals available in the Aspen condo market. Please give me a call (970 309 3620), drop me an email (jgausnell@roaringforkrealty.com), or visit our website at http://www.roaringforkrealty.com/ to take advantage of the current buyer’s market.

Jack Gausnell
Roaring Fork Realty