The Vail Valley real estate market is actually seeing some foreclosures and not just in the time share market. Upscale neighborhoods that were thought to be immune to the national housing disaster are showing signs of weakness. The average equity in a home in the United States has fallen to 46%, down from 60% last year. The number could go lower if housing values continue to fall in Vail and in the rest of the country. "Most mortgages made between the fall of 2004 and the fall of 2007, the majority of them are underwater," says Mark Zandi, chief economist at Moody's. If you'd like to link to the Eagle County website for foreclosure information, visit
http://www.eaglecounty.us/publicTrustee/ If you are experiencing difficulty and fear foreclosure is eminent, please contact a qualified real estate professional and call the Colorado Foreclosure Prevention Hot line at 1-877-601-HOPE (4673). If you have interest in purchasing foreclosed homes, give me a call at 970-376-8000.
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