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The Breckenridge real estate market, which is situated in the mountains of Colorado, seems to be recovering slowly after one of the worst seasons for housing in recent memory. According to an April 30, 2010 article in the Grand Junction Free Press, “Coming off one of its poorest seasons in recent history, the Grand Junction housing market bounced back with a 13 percent increase in sales for the first quarter of 2010. A report released by the Colorado Association of Realtors showed sales of single-family homes climbed to 346 in the first three months of the year. In the same period of 2009, a total of 306 homes were sold.” The piece, composed by Wyatt Haupt Jr., continued to state that “The median price of a single-family home in the Grand Junction market eased to $192,222 in the first quarter from $206,667 in the same period last year. That marked a decrease of 7 percent.”

Breckenridge homes for sale, as well as the larger real estate market, may be somewhat shielded from the negative effects of foreclosures because of a new law signed by the governor. According to an April 30, 2010 article in DS News, “Colorado lawmakers are hoping to mitigate the effects widespread foreclosures are having on local communities in the state. This week, Gov. Bill Ritter signed into law a bill that he says will secure neighborhoods against abandoned properties that have fallen into foreclosure.” The article, written by Carrie Bay, continued to say that “According to a statement from the governor’s office, the preceding law called for a minimum four-month sale preceding process for foreclosures. The new legislation cuts that mandate to two months, reducing the amount of time an abandoned home will sit unattended and unoccupied.”

This new measure may be coming just in time to give a slight boost to Breckenridge real estate, which has been facing challenges with foreclosures along with many other resort communities. According to an April 16, 2010 article by Sky-Hi Daily News, “Grand County saw a 348 percent increase in foreclosure filings from 2007 to 2009. Among resort-town counties, Routt, Pitkin and Gunnison were even worse. And the outlook for this year, according to brokers and economists, isn’t much better.”