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Mid—Continent Resources <br /> May 19, 1988 <br /> Page— 5 — <br /> Area Prop.Type R of Foreclosures R of Area x of Area Freq <br /> Prop County 1986 R of Tot Foreclose Prop 1 in <br /> Cotmty Totals <br /> Res 6437 79.85X <br /> R.Condo 776 9.63X <br /> Total Res 7213 89.48R <br /> Comm& Ind 848 10.522 <br /> Total 8061 100.00R 194 100.00R 42 <br /> Area Three-Roari Fork <br /> Res 3319 41.1711 74.60R <br /> R.Condo 607 7.53R 13 6.70R 2031 R 13.64R 47 <br /> Total Res 3926 48.70R a8.24R <br /> Comm&Ind 523 6.49R 11.76R <br /> Total 4449 55.19R 64 32.992 100.00X 100.00R 70 <br /> Less Condos 3842 51 26.29R 79.69R 86.36R 75 <br /> Area One&Two-Rifle&West <br /> Res 3118 38.68R 86.32R <br /> R.Condo 169 2.10R 4.68R <br /> Total Res 3287 40.78R 91.00R <br /> Comm& Ind 325 4.03R 9.00R <br /> Total 3612 44.81 R 130 67.01 R 1 OO.00R 28 <br /> The data indicate that reliance on County wide statistics can be misleading. <br /> In summary, the Rifle, or central area, was severely affected by the oil <br /> shale boom/bust cycle as would be expected. The data offer a strong <br /> suggestion that the Roaring Fork Valley area of Garfield County was only <br /> minimally affected by the oil shale boom/bust cycle but did suffer from <br /> regional and national economic hard times. <br /> Further, single family residential marketplace observations during 1987 <br /> pointed to a stable marketplace with hints of an emerging stronger demand. <br /> 1988 observations indicate increasing residential rents, declining residential <br /> vacancy, stronger residential market demand and a generally healthier <br /> residential real estate market place. <br /> It has been the writer's observation over the last twenty years that in this <br /> locale, the fortunes of commercial and industrial properties tend to follow <br /> behind the residential properties in cyclical market trends. During the <br /> 1980's time period described in the previous discussion, the Snowmass Coal <br /> Company evolved through a boom/bust cycle in the Carbondale area. The Mid— <br /> Continent Coal operations also suffered from negative economic influences. <br /> The Roaring Fork Valley is primarily a tourist oriented economy with the <br /> major and heaviest industrial development and employment centering around <br /> Applegate & Co. Real Estate Appraisers <br />