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Local Real Estate Auctions Increasing in Frequency, ADN
ASPEN REAL ESTATE - Real estate auctions becoming another way to sell property in downturn Just last week, the Aspen to Glenwood Multiple Listing Service — the local real estate listings bible — added the ability to query for auction properties.
The change reflects a way to buy and sell real estate that up until a couple years ago was virtually unheard of in the Roaring Fork Valley. Local real estate auctions — as opposed to foreclosure sales on the county courthouse steps — can still be measured by the handful, and no statistics exist yet to measure their growth. But, while not exactly a hot trend sweeping the area, real estate auctions appear to be increasing in frequency locally and are, many say, filling a certain niche in these uncertain and economically shaky times.Today, a luxury home in Carbondale’s River Valley Ranch is going to be sold at auction, and on Saturday, a 530-acre Rifle ranch is being auctioned in 14 parcels. Last week, the long-stalled Stage 3 theater property in Aspen was auctioned off for $3.6 million. And at the end of September, seven Carbondale and Glenwood Springs properties are being sold at a single auction.
By Catherine Lutz, August 26, 2010 Aspen Daily News
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