What has sold in the last week?
9 Homes have sold in Durango in the past week.  Homes were priced from $190k-$529k.

-Average list price was $310k     -Average sold price: $294k
-Average Days on market: 171
-Average sold price per square foot from these homes: $168.00
-3 homes were in town, the other 6 in rural Durango locations

Click Here to View CMA Presentation
How many homes are under contract?

There are currently 65 homes in Durango with pending sales.  Listed prices range from $70,000 to $5.9 mil.  Median price is $299K.

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

Any New listings?

There are 19 new listings that have posted in the last week. 12 are in town and 7 are in rural areas of Durango.  I only expect to see this # go up over the next 6 months.

Click here to see new listings

These statistics are only for Durango homes in town are rural areas of Durango over the last 7 days.  If you would like statistics on other surrounding areas, vacant land or specific time frames outside of this criteria, just email or call, we would be happy to send the info your way!

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

Okay, first…Breathe.  It’s okay, relax…let’s review.

* Don’t worry when you read ….”appears serviceable”

What does that mean?   Sounds like “needs work” but actually it means from brand new to works fine.  No problem there.

* Another scary phrase is “Hire a licenced qualified professional”

Again, relax, this does not mean “watch out the house might fall down!!”  It would mean, if this is item concerns you, the inspector is not qualified to give you more info for liability purposes.  If some base board needs caulk, it’s probably safe to say you don’t have to contact a general contractor, ask a handy man.  Now, if there is water leaking out of the light fixtures…okay that would be a little more serious.  

Take each item into consideration, ask friends or family members what they think about the report and most importantly, talk to you Realtor about your options/recommendations.  Sleep on it, you don’t have to make any rash decision right away, just give it some time.  Take the inspection to the house and walk around seeing the items mentioned yourself.

Click here to read article “Don’t freak out when you get back inspection results”

* My Suggestion to sellers:

When you are about to put your home on the market get a “pre-home inspection” done on your house.  They typically are less than $300.00 but this is a great value being that it could save a deal involving thousands of dollars from falling through.  You will already have a good idea of any issues that might scare a buyer off and you can make any appropriate changes before hand.  Do keep in mind that different inspectors might find different items.

If you have any other questions about the home buying process, feel free to email me or give us a call at the office.  We are happy to help!

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 is your Blue Ribbon’s Weekly Market Update:

What has sold?
8 Homes have sold in Durango in the past week.  Homes were priced from $178k-$800k.

-Average list price was $385k     -Average sold price: $367k
-Average Days on market: 280
-Average sold price per square foot from these homes: $221.00
-4 homes were in town, the other 4 in rural Durango locations

Click Here to View CMA Presentation

——————————————————————————————–
How many homes are under contract?

There are currently 63 homes in Durango with pending sales.  Listed prices range from $70,000 to $5.9 mil.

29 of these homes are in town.
34 are in rural areas of Durango.

——————————————————————————————–

Any New listings?

There are 19 new listings that have posted in the last week. 7 are in town and 12 are in rural areas of Durango.  Prices range from $259k-$2.5 mil.

Click here to see new listings

——————————————————————————————–

These statistics are only for residential houses in Durango over the last 7 days.  If you would like statistics on other surrounding areas or specific time frames outside of this criteria, just email or call, we would be happy to send the info your way!

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

It has been busy here!  As I have said in the last few weeks, the market is picking up.  Many buyers are starting to call and ask all the right questions, sellers calling asking “what do I need to do to sell my house?”   Not a full market recovery but there are irons in the fire and it’s going to be a good year for selling and buying.  I have never been so busy in the middle of winter!

Many sellers are still sticking to their prices and many buyers are looking for a good deal.  The most challenging time for the deals that are under contract is the inspection period, buyers can be skidish are ready to back out on the drop of a dime.  My advice, take it one step at a time, breathe, and don’t loose sight of your original goal.  Evaluate each detail on the true level imporantce and compare it to the big picture.

What has sold in the last week?
7 Homes have sold in Durango in the past week.  Homes were priced from $124,900-$800,000.

-Average list price was $376,900k     -Average sold price: $369,000
- Average Days on market: 216
-Average sold price per square foot from these homes: $196.00
-3 homes were in town, the other 4 in rural Durango locations

Click Here to View CMA Presentation
How many homes are under contract?

25 homes are in town.
32 are in rural areas of Durango.
There are currently 57homes in Durango with pending sales.  Listed prices range from $70,000 to $5.9 mil.  Averge price was $484k, Median price is $299,900.

Anything new?

Here are the 11 new listings posted since last week:
Click here to see 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

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

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

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.

Busy Busy Busy…the holiday weekend last week was a little quiet but ever since we’ve come back to the office, it’s been double the work load!

We are here and ready for action.  Seems like the phones are ringing and buyers are looking.

* What has sold?

13 Homes have sold in Durango in the past 2 weeks.  Homes were priced from $299k-$879k.

-The average sold price: $401.   Median $350K
-Average Days on market: 256
-Average sold price per square foot from these homes: $188.00/sf
- 9 homes were in rural Durango locations the other 4 were in town.

Click Here to View sold homes

* How many homes are under contract?

There are currently 73 homes in Durango with pending sales.  Listed prices range from $16K to $2.9 mil.

38 of these homes are in town.
35 are in rural areas of Durango.

* Anything New Available?

There are 23 new listings on the market in the last 15 days prices range from $174k-$3.2 mil.

Here are the new listings: Click here to see new listings

——————-

Everyone is asking.  How’s the market? It’s improving!  But most likely what you really want to know is…

….how’s the market for selling MY home or what has sold in my neighborhood.  Or how’s the market for buying a great deal?

We can help, just call or email with specific questions and we would be more than happy to give you the exact answers you have been looking for.

As always, thanks for reading!  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