HOW TO GET YOUR OFFER ACCEPTED IN MUTIPLE OFFER SITUATIONS

Multiple offers are common in the current market. Making an offer substantially over the asking price and/or market value is an option; however, there are other factors in your offer that can you increase your chance of having your offer accepted. The two main considerations for a seller reviewing multiple offers are the net proceeds they will receive if the contract closes and the probability … Continue reading...

Should I Buy or Should I Hold?

Over the past 10 months, the demand for homes has outstripped the supply in the Durango and surrounding areas. Initially, homes in the $1 million and less category were “flying off the shelf” and the volume of sales of homes priced over $1 million were stable. Over the past five months, the supply of homes over $1 million has diminished, as the demand and sales have increased, so it has turned … Continue reading...

HIGH DEMAND AND LOW INVENTORY RESULTS IN HIGHER PRICES

The year-end statistics for La Plata County were released recently and indicates that the market has completely shifted to a strong seller’s market. A sharp increase in demand at all price levels coupled with shrinking inventories has driven up median property values well over double digits in almost every category. The overall median price for La Plata County increased by 15.8% from $387,750 to … Continue reading...

THIRD QUARTER STATISTICS HIGH DEMAND PUSHES PRICES HIGHER

The La Plata County statistics comparing the first nine months of 2020 to the same period over the past three years was recently released. Median prices in the county increased by 12%, Bayfield in-town and rural values were up slightly, while median prices for homes in the Durango Mountain area increased sharply. Real estate median sales prices for the entire county in the first nine months of … Continue reading...

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...