Real Estate
Durango’s Real Estate “Shoulder Season”
It’s the time of year Durango starts to slow down for fall. If you spend any time in town, you’ll notice some differences in the last couple weeks: there are fewer cars, colors start to change, school is back in session, and some of our tourists head back home to their own routines. So what does this mean for La Plata County real estate? Typically, this time of year (mid to late August) is a “shoulder season” for real estate activity....
Residential Real Estate Numbers for July
This week we have the La Plata County residential real estate numbers for the month of July. We are just over half-way through the year, and in the middle our busiest time of year in terms of real estate activity. With 121 total sales in July, this is the highest number of sales per month we’ve seen this year. It is also higher than last July of 2017, and we are pleased to see such strong results, especially after the 416 Fire earlier...
Advantages of a Pre-Listing Home Inspection
This is the time of the year we typically see strong activity in the La Plata County real estate market. If your home has been on the market for a handful of months, you may be considering ways to enhance the appeal of the home. If you haven’t done a pre-listing inspection, now may be the right time. Essentially, this is a sales tool for the seller. In the typical real estate transaction, a home inspection is standard procedure, but...
Multiple Offer Situations
Multiple Offers can be a blessing or a curse. Blessing oftentimes for sellers because they have more options and control and likely higher value for their property than negotiating an individual offer. It typically is not a positive event for buyers, as it forces them to negotiate against other offers. It is important for both buyers and sellers to be knowledgeable and utilize the experience of the Durango Team to help you achieve the...
Real Estate in the News
As real estate professionals, we like to keep a pulse on national news. Sometimes the real estate news differs in the local market; other times we see similar trends. Here are a few recent headlines we found interesting and applicable: Mortgage Rates Dip: This is a big topic. For several weeks this year, we were noting the steady increase in mortgage rates. At the end of last week, they dropped again, making it the fourth drop in the...
La Plata County Colorado Aassociation of Realors Numbers for June
This week, we have the latest real estate numbers for La Plata County for the month of June. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
La Plata County Residential Real Estate June Transactions
This week, we have our June month-end numbers for La Plata County residential real estate. With 111 total sales, this number is lower than last June at this time. In fact, it is a lower total of sales than the last three years. While we don’t know exact reasons for number variances, it’s possible the 416 Fire slightly impacted June’s sales numbers this year. This could have occurred if any homes fell out of contract or houses that...
Common Contingencies and the Date Calendar
The Durango Team has been working on a series of blogs that detail the home-buying/selling process. They recently looked at the negotiation of an offer. This week they took a look at a couple common contingencies once a property is under contract, and the importance of the date calendar. In general, the most common issues or cause for termination of a contract are inspections and loan objection deadline. Inspections (Section 10): In...
La Plata County Real Estate Numbers for the Month of April
This week we have the La Plata County Residential Sales numbers for the month of April. Officially, we are one-third of the way through the year. With 86 total sales for the month of April, total sales are slightly lower than April of 2017, but still a strong number compared to the last several years. Year to date, there have been 295 total sales. Last year at this time, we had 302 total sales. Overall, we are noting similar numbers...
Fees To Be Aware Of When Buying A Home
The thought of owning a home can make you so excited to the extent of you making the wrong decisions. While it is everybody’s dream to own a home someday, the majority of people do not know what it takes to buy a home. Usually, a large number of new homebuyers only look at the listed price and the interest rate that their loan providers will charge them. In spite of all these being important, there are other fees that home buyers tend...
Southwest Colorado Real Estate Forecast 2018–offered by The Wells Group
Get the inside scoop on the Real Estate market trends here in SW Colorado with the 2018 Real Estate Forecast featuring Wells Group brokers John Wells, Jim Wotkyns and real estate appraiser & statistician, Bob Allen. Through an in-depth yet easily understood presentation, this team of dedicated specialists will lead you through the data and real estate trends observable in Southwestern Colorado for years prior, and also lend...
So You Want to List Your House? Part Three: An Offer is Received
If you’re considering listing your home, we’ve been writing a series on steps that occur for the home listing: initial steps prior to listing and what happens once a home is on the market. This week we’ll cover the next phase: once a property receives an offer. Below is a general overview of our process; of course, the steps may vary based on each individual situation. Post courtesy of The Durango Team. Read more or search Durango...
NEW in 2018 – Loan Limits to be Increased
FHA & Conforming Loan Limits to INCREASE in 2018! FHA increasing to $391,000 Conforming increasing to $453,100 (above this limit is a JUMBO Loan) NOTE: Conforming vs. Conventional Mortgage terminology – Conventional mortgages are all loans that are not made or guaranteed by the U.S. government. Whereas, Conforming mortgages are those eligible for purchase by Fannie Mae (Federal National Mortgage Association) and Freddie Mac...
Why Listing A Home in Winter is a Good Idea
Are you considering listing your home? A common assumption for home sellers is that the spring selling season is the best time of the year to put a home on the market. While there is a significant amount of new listing activity during the spring and summer months, that doesn’t mean listing a home in winter is a bad time. Here are a few reasons: Lower Inventory During Winter. Typically, there is less inventory on the market during the...
Winter Home Preparation Projects
With cold temperatures on the horizon, it’s time to consider preparing your house for winter. While there are several areas to consider before winter is here, we want to remind you of a couple of the small details that can make a drastic difference. Preparation on the front end can save substantial time and money. Take Hoses Off Faucets: We remind our clients of this every year, but the importance cannot be overstated. When hoses are...
July La Plata County Colorado Association of Realtors Numbers
This week, we have the latest real estate numbers for La Plata County for the month of July. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
La Plata County April Reports
This week, we have the latest real estate numbers for La Plata County for the month of April. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
The Wells Group 2017 Real Estate Forecast– Highlights
2017 ANNUAL WELLS GROUP REAL ESTATE FORECAST HIGHLIGHTS This past Wednesday night, the Wells Group hosted the 17th Annual Real Estate Forecast. This is a fantastic opportunity to take stock of the real estate market, and evaluate trends. We consider last year’s predictions and how the year actualized, and we look ahead to the next year with predictions on the real estate market. In case you missed the event, here are a few highlights,...
January Real Estate Numbers – La Plata County
This week, we have the latest real estate numbers for La Plata County for the month of January. The attached charts show a detailed breakdown of several market segments in La Plata County, showing La Plata County as a whole, Durango In-Town, Durango Rural, Bayfield In-Town, Bayfield Rural, Ignacio In-Town, Ignacio Rural, and Durango Mountain Area. These charts indicate the statistics and key metrics for single family homes and...
Various Loan Types Offer More Opportunity to Purchase Homes
We have been saying that this is the perfect time to purchase a home if you are in the market. Typically, however, one major obstacle must be overcome for homebuyers to succeed in a purchase. A homebuyer must secure a home loan. Historically, homebuyers sought conventional loans. Essentially, these are loans not guaranteed by a federal agency. They typically require excellent credit, and also process quickly. However, if a...
Featured Real Estate
Jim Wotkyns – Real Estate Blog
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