There are a lot fewer Steamboat condo foreclosures for sale than buyers think. The Steamboat foreclosure getting the most press is One Steamboat Place. It’s too early to tell what will happen with prices for the fractional and whole ownership residences once the debt issues are resolved, although almost everyone thinks the project will ultimately be a success.
Other than One Steamboat Place, there are very few condo foreclosures in the ski mountain area of Steamboat Springs. Most of the condo foreclosures have been entry level condos under $250,000 in developments such as Shadow Run, The Rockies, Walton Village Townhomes, and Quail Run. In fact, only 16 bank-owned condos have sold since January 1, 2010–fifteen months ago. All of those were under $250,000 except for four of them–a Dulany and three Highmark condos.
As of today, there are only 11 bank-owned Steamboat condos for sale. And all but one of the condos are priced less than $220,000. The other one is–no surprise here–a Highmark.
See all the Steamboat condo foreclosures for sale here or call us at 970-819-6372 for a list of great condo buys that aren’t bank owned.