Steamboat Foreclosures for Sale: Are They Worth Buying Just Because it’s Cheap?

By
Real Estate Agent with Colorado Group Realty, LLC

Just because a Steamboat Springs property has been foreclosed upon doesn’t mean you should buy it.   The Steamboat bank-owned properties that truly are good values go under contract quickly with multiple offers.  Be ready to buy these gems as soon as they go on the market.

Other Steamboat foreclosures for sale aren’t necessarily prime real estate you should buy.  One of the reasons people walk away from a property is that they were not able to sell it.  They may have tried to sell their home or condo when they knew keeping the property was a drain on their finances, but no buyers materialized.  The home could be in an undesirable location, or it could have an unusual floor plan or be functionally obsolete.  A home next to a highway or with an unusual floor plan will be harder to resell, even if it was a “deal”.

See all Steamboat Springs Foreclosures and Bank-Owned Properties here, or call 970.819.6372

 

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Rainmaker
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Eliese Pivarnik

GRI, RSPS, ABR Broker/Owner Colorado Group Realty
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Steamboat Real Estate blog and MLS search. Condos, townhomes, single family homes, and luxury homes in Steamboat Springs, CO.