HIGH DEMAND AND LOW INVENTORY RESULTS IN HIGHER PRICES

The year-end statistics for La Plata County were released recently; prices increased sharply in all La Plata County geographical areas and property categories. Continued high demand coupled with low inventories has driven up median property values well over double digits in every category of homes. The overall median price for La Plata County increased by 21.4% from $449,000 to $545,000, with the … Continue reading...

TODAY’S BUYERS ARE NOT MAKING ADJUSTMENTS FOR FLAWS

The value of a particular home or real estate should be adjusted either positively or negatively based on how the property compares to other similar properties that have recently sold. Residential property appraisals are based on this concept; the appraiser makes positive and negative dollar adjustments to the sales prices of the similar homes to determine what the subject property is worth; the … Continue reading...

THIRD QUARTER STATISTICS REVEAL CONTINUNING STRONG MARKET

The La Plata County statistics comparing the first nine months of 2019 to the same period over the past three years was recently released. In general, median prices in the county were flat, Bayfield in-town values were up significantly, while median prices and sales volume for free-standing homes in the Durango Mountain area decreased. Real estate median sales prices for the entire county in … Continue reading...

FINANCING HELP FOR SELF-EMPLOYED BUYERS

The ability for the self-employed to secure financing has always been a challenge. There are primarily two reasons for this. Self-employed buyers typically are very conservative when reporting their profit and income when filing their tax returns. Some self-employed buyers are involved in multiple entities which require the filing of multiple tax returns; which are difficult for lenders to fairly … Continue reading...