Real Estate Observations from Steamboat Springs, CO

This quick blurb is not documented as fact…merely observation and intuition on my part. 

  • Interest rates have risen to 5% or above.
  • Real estate inventories are being replenished as sales continue.  However, some would say that the choicest properties are being snapped up.
  • Properties above 1 million and below 500K are seeing the most activity.
  • REO and short sales continue to be mainstream in our market.
  • Prices may be stabilizing as evidenced by multiple offers on some properties.  Properties that are overpriced, however, will continue to see degradation of those prices or lack of sales.
  • Properties across all classes and price ranges are closing within 10% of ask price.  This includes REO’s and short sales, discounting what popular opinion would have one believe.

Anne Mayberry     970.846.1425

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s