August 2012

There are 4 blog entries for August 2012.

Despite a burst of acitivity in July, the pace at which foreclosure notices are being filed in Routt County suggests the final 2012 total will well below the 306 filed in 2011.

Public Trustee Jeanne Whiddon said Routt County is on track to see about 250 of the foreclosure filings technically referred to as notices of election and demand, or NEDS.  They do not signify that someone has lot their property but rather that the holder of the note has begun the foreclosure process.  Many NEDs are cured or withdrawn before the property goes to a bank sale.  

Whiddon said the pace of new NEDs continued at about 20 per month through the first six months of 2012 before uncharacteristically increasing to 37 in July.  

Year to date, there have been 166 NEDs filed,

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Dr. Lawrence Yun, the Chief Economist for the National Association of Realtors recently spoke in Steamboat Springs.

He discussed some national trends that speak well for a rebounding national real estate market in the next few years.

• The first six months of 2012 have been the best six months of activity based on pending contracts the

nation has seen in the last five years.

• New construction inventory has fallen to historic lows, which will drive up demand for new construction.

• America is one of few advanced economies that has respectable population growth, adding on average

3 million people a year.

• Household formation has lagged since 2007 as people live with parents longer, delay getting married,

or add additional

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There’s been a lot of attention over the last few years on the “shadow inventory” of potential foreclosures — a pent-up supply of homes that could smother an incipient housing recovery.

But there’s been comparatively less attention on the lack of new housing construction, which has helped to offset the potential damage from elevated levels of foreclosed properties. New home building has been at its lowest levels since World War II in 2009, 2010, and 2011.

“Not too many people talk about the lack of new construction over the last several years, which has set the foundation for a snapback in pricing,” says Michael Sklarz, president of real-estate research firm Collateral Analytics.

Frank Nothaft, the chief economist at Freddie Mac, elaborated on this

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Steamboat Springs — When Natural Grocers by Vitamin Cottage opens its new store in Steamboat Springs in September, it hopes to add local growers to its sources for organic produce.

“We’ll be a full-service grocery offering a large, large number of supplements and we’ll carry nothing but USDA-certified organic produce,” company spokeswoman Nancy Flynn said. “If there are producers of organic produce in the area, we absolutely want to take a look.”

Plans are for Vitamin Cottage to occupy about 12,000 square feet in the former David Chase Furniture and Rugs store at 355 Lincoln Ave. The property sold for

$3 million Wednesday to a Montrose developer, VC I Steamboat LLC, and the city gave its approval for a change-of-use permit for the location. The real

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