CURRENT MARKET DEFIES LOGIC

With the uncertainty surrounding the COVID crisis, economic downturn, and the upcoming election, you would think that potential homebuyers that did not have to buy this year would stay on the “sidelines” until things became more certain. In some sections of the country, including the Durango and surrounding area, there has been a sharp increase in demand. This has resulted in multiple offers, … 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...

ADD REAL ESTATE TO YOUR IRA RETIREMENT ACCOUNT

Many people would like to diversify a portion their investments into real estate; but think they can’t because the bulk of their assets are in their individual retirement account (IRA). Actually, direct real estate investments can be made via a self-directed IRA that focuses on real estate investments. With a Self-Directed Real Estate IRA you can invest in all kinds of real estate and … Continue reading...

2018 REAL ESTATE STATISTICS – PRICES UP AND SALES DOWN

The year-end statistics for La Plata County were released recently and the lack of affordable homes for sale has pushed the number of sales down and raised prices in most areas and price segments. The median price for La Plata County increased by 5.7% from $369,000 to $390,000, with sales decreasing from 1163 to 1127, a 3.1% drop. Most of the new construction is in the higher price ranges, as … Continue reading...