Getting Ready for Spring Market

We are getting ready to come out of the “shoulder season” representing the slower part of real estate activity during the holidays and the winter months.

We are cautiously optimistic about the coming spring market. As weather starts turning warmer and it feels more like spring, we historically have seen an increase in market activity.

However, there are some indicators that cause us to be more guarded in our predictions. You may want to view a good brochure that sets forth some of these concerns titled "Things to Consider if you are Selling Your House" written specifically for 2012 Sellers.

http://www.keepingcurrentmatters.com/pdf/SellingaHouse.pdf

Two things that may hinder a more normal market this Spring are as follows:

1) We are not sure of the impact of pricing as Banks release more of the shadow inventory they have been holding: i.e. there are great many bank owned properties that have not yet been released to the market and also, there are a great many properties that are short sales and/or in the foreclosure process. As these properties continue to be released to the market, supply will be impacted and if there is an oversupply of inventory, prices may still see a downward trend this spring.

2) Lending fees and mortgage insurance rate hikes are in the works which may make the cost of financing a home more expensive. We may continue to see a tight loan market which greatly impacts the number of qualified buyers

If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 18+ 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.