Excerpt from: Ski Resort Market Trends and Statistics
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| February 12, 2009 | | Eagle County, home of premier ski resort real estate areas Vail and Beaver Creek, sees a foreclosure a day | Even as Congress prepares to pass an economic stimulus bill, news continues to pour in with regard to the economy. And, of course, the real estate market in many areas of the country continues to show decline. Even luxury ski resort real estate has finally been seeing a decline.
Now, there is news that in Eagle County, Colorado, a ski resort haven -- home of Vail and Beaver Creek -- is experiencing a foreclosure a day in 2009. The Denver Post reports on foreclosure in Eagle County:
There have been 39 foreclosures in the county this year. And they aren't isolated to one type of home, Shaeffer said. "It's the high end, it's the low end," Shaeffer said. "It's pretty much across the board." The county didn't have half as many foreclosures at this time a year ago, said county fiscal technician Christina Moses.
So far, many of the foreclosures recorded in Eagle County are second homes and timeshares. In fact, 11 of the 39 foreclosures so far are timeshares.
This means it might be a good time to think about buying a second home in some ski resort markets.
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