This is supposed to be a buyer’s market, right? So, where are all the good deals? Zillow.com reports that there are 67 foreclosures in La Plata County, but where are they? Why are we not seeing homes selling for 50 cents on the dollar like in other places? I’ve been watching a bulk foreclosure auction event develop in Florida where they are selling nice homes starting at $14,900. Wow. That seems like a deal too good to be true.
Anyway, that doesn’t help us if we are wanting to buy into Durango real estate. We are here (and not Florida or somewhere else) for a reason, right? For me, it’s a lifestyle choice. Rafting season has just begun, we had a fun winter of skiing and snowboarding, I hike every morning with the dogs, and we have over 300 sunny days a year to do anything else your heart desires, you simply can’t beat that.
Fact is, our market is going strong, our prices have held steady, which means that most houses don’t make it to foreclosure auction for several reasons. The home owner is able to sell or work out a deal before the auction, the bank or other lien holder come in and buy it and market it for sale at market price (not at a deep discount), and the bargain hunters snap up bargains that might not seem like such a bargain to the rest of us. All that being said, our average sale price is within 4-8% of listing price (in/out of town), meaning that you’ll have a hard time finding a 20-30% or more discount here.
Now, that doesn’t mean Buyers can’t or shouldn’t try to locate a great deal. I’m here to help and love finding a good value, negotiating and bargain hunting as much as you. That’s why I will blog about great values in Durango, so if you are interested subscribe to our blog.
Best Values in Durango:
Ski Condo – Purgatory Town Home (fully furnished only $225,000, most comparable comp is $275,000 and up)
Alpenglow Luxury Town Home (at $750,000 least expensive in this brand new ski in ski out townhome development, priced below much smaller unit)
Spacious Mediterranean-style Home, MLS# 619317 ($525,000 short sale opportunity, next to a listing for $1,200,000, on 1 acre close to Electra Lake in North Animas Valley)
There are more deals like these and I’ll continue to spotlight them in this blog, but if you want up to date and immediate info please email for a customized link to any particular type of listings in the Durango area. Don’t hesitate to email me, or chat if I’m online.
Let us help you find the good real estate deals in Durango.
Claudia Williams
Owner/Broker
970 749 3555