The jump in foreclosures indicates middle to lower Roaring Fork Valley residents still feeling fallout from recession…but banks and other lenders across the country have been swamped with foreclosures since 2009. Working through the process takes time, so the jump in foreclosure filings could be a reflection of banks finally getting to more cases in the Roaring Fork Valley rather than a worsening economic plight for some residents.
ASPEN REAL ESTATE – The number of foreclosure filings in the Roaring Fork Valley portion of Eagle and Garfield counties soared in 2011, suggesting that the effects of the recession haven’t passed. There were 107 foreclosures filed by lenders in the Eagle County portion of the valley in 2011, according to research by [a local downvalley attorney.]That is a 26 percent increase over the 85 foreclosure filings in the same area in 2010…In Pitkin County, foreclosure filings fell 22 percent to 113 last year from 144 the year before. Pitkin County includes a sliver of Basalt. The upper valley real estate market has started recovering more quickly than the rest of the valley, so foreclosures in Pitkin County might be tapering off.
By Scott Condon, Jan 5, 11, AT
Credit: Aspen Times