On the Seller side of the real estate market in Durango, Colorado things have transitioned since April 30th (end of tax incentives) to a situation very much like we were seeing here a year ago. In other words, the beginning of this year was promising and we were hopeful that by this time in 2010 we would be seeing steady market recovery. However, in the last few weeks we have seen a definite slowing in transactions, while at the same time inventory is being added almost daily - very much like last year. These are challenging times to be a Seller and being as aggressively priced as possible is important.
On the other side of the selling equation, opportunities absolutely abound for Buyers. We still hear constantly from Buyers that they are waiting for the market to reach "bottom." My advice to them is that in the years ahead of us, the bragging point is not going to be at what price you bought, but what interest rate you got. Did you know that a 1% change in the interest rate is equivalent to a 10% change in value? Right now a 30 year fixed is at 4.75%. I definitely question whether it makes sense for Buyers to be sitting on the sidelines waiting for lower prices while interest rates are so low, but obviously public perception versus reality is not something easily controlled. Again, I think in the future, those with bragging rights will be those that jumped in before interest rates most certainly will rise.
You can contact me, Don Ricedorff, at The Wells Group, 901 Main, Durango, Colorado, 970-375-7014 or via email at don@durangorealproperty.com
Don Ricedorff is a licensed real estate broker in the State of Colorado, with 16 years of experience, and he resides in Durango Colorado.He has numerous real estate designations, which have provided him with an unparalleled education to assist his clients.
The designations include:
CRS, Certified Residential Specialist
CRB, Certified Residential Broker
CCIM, Certified Commercial Investment Member
CDPE, Certified Distressed Property Expert
ABR, Accredited Buyer Representation
GRI, Graduate of Realtor Institute
RSPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist
He is also an active volunteer in the community and his church. His highest aspiration is spending time with his wife, Janet, and his three children Kelly, Katie, and Kyle. His other interests include playing tennis, fly fishing, hiking, boating, and water skiing.
1 comment:
Bonds purchased in a higher-rate ambiance accept ethics because they accommodate college income. Market value is the present amount of approaching income
Post a Comment