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Pitkin County Foreclosures Approach Record in 2009, ADN

ASPEN REAL ESTATE - Pitkin County, which includes Aspen and Snowmass properties, ended last year with 105 foreclosure filings, a 24-year high and the third most since 1973, according to records from the Pitkin County treasurer’s office.Only 1982 and 1983 — when banks were failing across the country as the result of a severe recession and the savings and loan crisis was in high gear — had more foreclosure filings than 2009. There were 143 foreclosures in Pitkin County in 1982 and 130 in 1983.Things got a little better in 1984 (93 foreclosures), but  1985 ended with 105, the same number as last year.In 2008, for example, when the national real estate market was suffering the most, Pitkin County had only 35 foreclosure filings. That’s actually lower than the county’s 25-year average of 40, but higher than the 24 foreclosure filings it averages based on the last 10 years of data.
By Catherine Lutz, Jan 4, 2010 Aspen Daily News

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