The Wells Group Forecast was well attended on Wednesday by numerous Wells Group clients, investors, developers, friends and representatives from several local financial institutions. Local appraiser and real estate consultant Bob Allen provided attendees with a detailed analysis of our local real estate market followed by a "forecast" for 2012 crafted through the collective wisdom and experience of the Wells Group brokers. A brief recap from the Forecast included the following:
Local indicators show that many of the sectors in our market are balanced.
There has been a substantial inventory reduction.
Cost of funds + low values = great opportunities.
The window on some good deals will close in 2012.
300 - 400 new households need to find housing in 2012.
There will be more "move-ups" or "move-downs" in 2012.
Rental property inventory will be absorbed.
Second home and vacation home buyers are coming back to the market.
Resort property sales are up 31% year over year.
If you would like to access the Forecast materials on-line or have us send you a copy, please contact our office at 970-375-7014 or email us at: don@durangorealproperty.com
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.
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