What has sold?

8 Homes have sold in Durango in the past week.

Homes were priced from $124k-$510k.

-Average list price was $289k

-Average sold price: $266, Median sold price was: $225k

-Average Days on market: 197

-Average sold price per square foot from these homes: $214.00

-3 homes were in town, the other 5 in rural Durango locations

Click Here to View CMA Presentation

Sales Pending / Under Contract?

There are currently 56 homes in Durango with pending sales.

Listed prices range from $70,000 to $5.9 mil.

Median price is $322K.

25 of these homes are in town.  31 are in rural areas of Durango.

Anything New?

There are 13 new listings on the market since last week prices range from $119k-$749k.

Here are the new listings:  Click Here to View New Listings

* Call or email is for any questions, or if you would like staticstics sent to you outside of these paramaters.

– Shaheen Hangval

Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214

Office: 970-247-8388

Fax: 970-247-8360

Shaheen’s Cell: 970-769-2441

Located right downtown, on 205 Main Ave,  Aztec, NM, 87410, the new Blue Ribbon Properties office is serving San Juan County in New Mexico, including the Farmington and Aztec area. Owned by Stacy and Chris Engle and Claudia Williams, Blue Ribbon in Aztec offers full service real estate, property management and real estate sales.

Call 505 334 8814 for more information. Look no further for Farmington New Mexico real estate deals. Rental and investment properties cash flow much better here than in Durango, they work well in New Mexico,  the rent will pay your mortgage and more, and even better,  Blue Ribbon will manage the property so you won’t have to worry about a thing! Call today. 2010 is going to be a great year!

–
Claudia Williams
Owner/Ecobroker/Exchangor
Blue Ribbon Properties
835 Main Ave #214
Durango, CO 81301

970 247 8388 (office)
970 749 3555 (cell)
970 247 8360 (fax)
www.blueribbondurango.com

Check out my blog
The Scoop on Durango Real Estate
www.blueribbondurango.com/blog

Jan. 1 st 2009 – December 31 st 2009

Category      _     Total Volume      Total units _  Avg. Price          Median Price        Avg DOM

Durango Res.-   $122,806,644…….268………$458,233…………$379,950…………….216

Dgo. Co/Tnhm-$28,315,277………..94………$301,226…………$266,000…………….238

All Bayfield Res.-$32,085,002……125………$256,680…………$245,000……………..175

All Ignacio Res.- $3,057,388………..13………$235,183…………$220,000……………..129

All Resort Res.-   $22,993,177………52………$442,176…………$302,500…………….278

Vacant Land-       $18,464,500………86……..$214,703………….$164,950………………379

Farm & Ranch-    $22,162,000………4……$5,540,500……….$5,667,000……………..175

Commercial-         $8,595,075……….11……..$781,370…………..$464,364……………..233

Notes: Durango, Bayfield and Ignacio include both in-town and rural residential properties.

DOM = Days on market

Source: Colorado real estate Network (CREN MLS) from Jan 2010

Res. = Residential,    DGO = Durango,   Co/Tnhm = Condo/Town home

* Our statistics are looking up from 2008 with an increase in # of units sold and decrease in days on market.  These are positive signs of slow market recovery.  Buyers are becoming more savvy shoppers and some sellers are pricing their homes more competitively. 

Looking forward to a great 2010! 

Feel free to email or call us with questions anytime, we are happy to help!

–
Shaheen Hangval
Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214
Office: 970-247-8388 Fax: 970-247-8360
Shaheen’s Cell: 970-769-2441

As most of you might know, Durango is a snowy mountain town and some people deal with tons of snow in different ways.  Some love it, others get what’s known as “cabin fever”.  This is an overwhelming feeling of needing to get out of the house! 

Well, Snowdown was created as a way to deal with the cabin fever.  It’s basically a week long celebration, where there are fun events hosted all week long throughout the town.  Even if you don’t want to participate in the events themselves they are all entertaining to watch! So get out of your snow surrounded house and come have a good time downtown!!!

This year’s theme…Surf’s up, life’s a beach!!!

Check out the website to see all the events click here to see Snowdown website

Here are some of the events I will personally be attending or competing in…

* The polar BEER plunge – where people jump into a giant pool of beer that has been sitting outside in the cold for days!!!

* The high-five competition

* The follies – a live performance with tons of local humor and funny skits!

* The do’s and don’t fashion show, showing off Durango’s horrible sense of fashion.

* The beard growing competition - to see who can grow the best beard in town.

* The Friday big parade down Main!

* The arm-wrestling competition at the Wild Horse

…And much, much, more!

Shaheen Hangval
Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214
Office: 970-247-8388 Fax: 970-247-8360
Shaheen’s Cell: 970-769-2441

What has sold?
10 Homes have sold in Durango since 1/10/10.  Homes were priced from $165k-$930k.

-Average list price was $518k     -Average sold price: $425k
-Average Days on market: 350
-Average sold price per square foot from these homes: $246.00
-4 homes were in town, the other 6 in rural Durango locations
How many homes are under contract?

There are currently 64 homes in Durango with pending sales.  Listed prices range from $70,000 to $2.4 mil.  

28 of these homes are in town.
36 are in rural areas of Durango.

Anything New?
There are 17 new listings on the market since last Wednesday prices range from $129k-$2.2Mil.  Here are the new listings:

Click Here to View New Listings
–
Shaheen Hangval
Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214
Office: 970-247-8388 Fax: 970-247-8360
Shaheen’s Cell: 970-769-2441

Looking for the scoop on Durango Real Estate?  Check out our blog!
http://blueribbondurango.com/blog

2009 had its challenges but comparing 2008 to 2009 we did see a steady increase in sales and a slight increase in median home price.

Click here to see PDF all of 2009 market statistics

Click here to visit DAAR website with all statistics

With contracts on my desk, calls awaiting answers and buyers looking for property in the middle of winter I’d say were are off to a great start for 2010!

Call or email us with questions you might have.

Feel free to post comments on this blog.

We are here to help!

Shaheen Hangval
Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214
Office: 970-247-8388 Fax: 970-247-8360
Shaheen’s Cell: 970-769-2441

Typically the activity over the holidays is slower because people are traveling and spending time with family and friends. Watch for the market updates over the next couple of weeks and I’d bet you’ll see a steady increase in sales, pending listings and new listings.

* Here is your weekly market update:

What has sold?

4 Homes have sold in Durango in the past week.  Homes were priced from $234k-$937kl.

-Average list price was $557k     -Average sold price: $532k
-Average Days on market: 117
-Average sold price per square foot from these homes: $167.00
-All 4 homes were in rural Durango locations

Click Here to View CMA Presentation

How many homes are under contract?

There are currently 56 homes in Durango with pending sales.  Listed prices range from $70,000 to $2.4 mil.  Median price is $347K.

26 of these homes are in town.
30 are in rural areas of Durango.

Anything New?

There are 11 new listings on the market in the last week, prices range from $59k-$729K.  Here are the new listings:

Click Here to View New Listings

If you would like statistics on other areas or within specific parameters, let us know, we would be happy to send them your way!

Thanks for reading!

–
Shaheen Hangval
Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214
Office: 970-247-8388 Fax: 970-247-8360
Shaheen’s Cell: 970-769-2441

Here’s what our Realtor Board President has to say about the Durango Real Estate Market:

“In real estate, it has been one of the most turbulent years in recent history. The first nine months showed a 30% decline in transactions, and the fourth quarter to date is showing a 13.6 % gain in transactions. This reversal has been a long time in coming, as 2009 is the fourth straight year of the down market, but it is with hope that we begin 2010.

The market should improve in the first half of 2010 as we work against low results from last year, coupled with the general consensus that the worst is over and the market is improving. The extended and expanded first time homebuyers credit and the other new incentives should help to propel the market to new heights in the first half. If the economy continues to expand and consumer confidence gains strength, we will find 2010 to be a solid year in real estate.”

Cheers! Here is to 2010!
–
Claudia Williams
Owner/Ecobroker/Exchangor
Blue Ribbon Properties
835 Main Ave #214
Durango, CO 81301

970 247 8388 (office)
970 749 3555 (cell)
970 247 8360 (fax)
www.blueribbondurango.com

Check out my blog
The Scoop on Durango Real Estate
www.blueribbondurango.com/blog

—
In a recent interview with a top agent in Massachusetts, I asked how things were going in his local area. “Our market is really a tale of two markets,” he said. “Eighty percent of the homes are overpriced and twenty percent are well-priced.  The well-priced properties are getting multiple offers.  The overpriced properties are getting none”.

I immediately realized that in every market, in every time, there are two markets – one where properties are priced to sell and another where properties are priced to sit.  A seller is either in the market or out of it.  And unlike a sellers’ market where time on the market can pull overpriced homes back into the market, after a downshift, every day just pushes the overprices homes farther and farther out of the market.
—

There are two markets in every market, Durango is no different.  Which market are you in?

If you are trying to sell your home and are frustrated with the current market, don’t worry you are not alone. We need to remember to adjust to our surroundings constantly.  If we do not change and whats around us does, where does that leave us?  In the past and stagnant.

Now is the time to get creative, strike your progressive thinking and put it to action!

There will always be changes in markets, clothing styles, environmental changes, technology advances etc.  Stay up to date, do your homework and make adjustments to what will work for your lifestyle.

If you are looking for up to date information on what’s happening in the local Colorado market, give us a call, we can help.  We can discuss creative marketing strategies and we are happy to provide you with a free market analysis at any time.

With the turning of the new year just around the corner, this is the prefect time to point yourself in the direction of progression!  Stay motivated be positive!

Happy Holidays!

–
Shaheen Hangval
Broker Associate/EcoBroker with Blue Ribbon Properties

835 Main Ave. Suite # 214
Office: 970-247-8388 Fax: 970-247-8360
Shaheen’s Cell: 970-769-2441

2010 Real Estate forecast for Durango – Positive
After speaking to lenders, investors, other realtors and looking over statistics all signs point to the positive.  We have already seen an increase in sales, things are getting better. 2010 will be a great year! For more updates subscribe to our blog, The Scoop on Durango Real Estate.

Wishing you and your family a Happy Holiday season and a new year of health, happiness and prosperity

Cheers!

Claudia Williams, Shaheen Hangval, Bruce Campbell and Stacy Engle
 
P.S. Join me in donating to sponsor a child to go to day care (playschool) in Africa, Masipumulele township outside of Cape Town, South Africa. My sister, Nicola Stehlik Nangle, runs a non-profit called Work for Love and they need our help to open the school this January. Click here for more info.  Thank you.