Wednesday, March 25, 2009

Should I buy a home in Durango this year?

Well...the answer is yes and no...
There are many factors to consider when purchasing a home in the current Real Estate of which would have to be the current downward trend to the market that some speculate will last through 2010. However, currently I am seeing the number of showings and the number of qualified Buyers almost returning to what I would call a normal spring. Therefore, I feel and hope that prices will begin a slow rebound. Although I don't know that we will ever experience the phenomenal gains we had between 2003 and 2006 until the current state of the economy is turned around, if ever.
However, with all the current stimulus packages, interest rates being historically low and prices that have dropped off quite a bit, there is the opportunity to get into the market that there never was before. With interest rates so low people that could not previously qualify for a home can now and couple that with the $8,000 First Time Buyer credit and my answer is a resounding YES!!! Historically, Durango is isolated from extreme downward pricing trends and I am seeing what I will call a leveling or stabilization of the market.

No comments:

Post a Comment