Jackson Hole Title & Escrow

Foreclosure facts in Teton County courtesy of JH Title & Escrow

Jackson Hole Title & EscrowJackson Hole Title & Escrow has compiled some basic facts on the basics of foreclosures and how the process works in Teton County.  While the Jackson Hole real estate market is fortunate to be uniquely different than those in major metropolitan areas, it is unfortunately not immune.

If you have been considering the purchase of a foreclosure, you can get detailed answers to basic questions as well as view a link to a current list of foreclosures from the Teton County Sheriff’s Office.

  • Learn the difference between a foreclosure and a short sale.
  • Familiarize yourself with how the Power of Sale foreclosure process works locally.
  • Know what approach to take if you find a foreclosure you’re interested in buying.
  • Read about the financial responsibilities associated with purchasing a foreclosure.
  • Determine if shopping for a foreclosure is right for you.

Get answers to these questions and view a current list of foreclosures by viewing the Foreclosure Facts report courtesy of our friends at Jackson Hole Title & Escrow.

Jackson Hole Title & Escrow
255 Buffalo Way / P.O. Box 921
Jackson, WY 83001
P: 307.733.3153
F: 307.733.9534

Attention short sale home buyers! Beware of costly obstacles.

There are many of them occurring around the country and even in Jackson Hole lately.

Short Sales are when an owner/seller owes more to their creditor(s) than the property is worth on the open market. Another way to phrase it; it’s when the net proceeds from a sale do not cover the amount of funds the owner/seller owes to the bank(s) and subordinate lien holders.

There’s one in JH scheduled to close today and it has five liens recorded against the property.  All of the liens have been negotiated and will be released at closing, so that the Buyer can hold title the property, free and clear of any monetary encumbrances.

Liens are one of a few different obstacles you may come across when looking to buy distressed property.  This is just one of those circumstance where having an experience agent on your side could cause you a lot of time and possibly disappointment.  Contact me if you would like to discuss your needs and what other possible challenges could arise when considering a short-sale purchase.

Jackson Hole boasts low percentage of distressed listings.

The numbers speak for themselves: Jackson Hole has 12% less listings on the market than it did this time last year.  According to MLS data, approximately 5.5% of the active listings are distressed (short or bank-owned).  Of the quantity in sales for Jackson Hole in 2010 (YTD), only an approximate 13% have been classified as distressed. There were no new foreclosures on the Teton County foreclosure list this past week.

Bank-owned investment opportunity. Priced 41% less than last sale in Snow King Estates.

Looking for REO or Bank-Owned Property investment opportunities?  There’s a bank-owned property coming on the market very soon in the Snow King Estates community within the Town of Jackson.  It’s going to be offered at a 41% discount of the last sale price (April, 2010) in this neighborhood.  This will be a great opportunity if you or a friend are shopping around and trying to take advantage of these low residential interest rates.