2010 is Coming to a Close - Last Minute Buys...

I realize its been a while since my last real estate blog. Life seems to do that. I was looking at my previous post "why to buy in Steamboat" dating back to July. The premise still applies except the interest rate I quoted then was in the 6% range and now its more like 4% with good credit and 20% down. The inventory is up with over 2000 properties on the market in our MLS the "supply and demand" supposition is really in favor of the buyer. Currently there are studios, one and two bedroom mountain condos that can be yours from $80,000 - $200,000. Of course there are all ranges of condos but when I entered the industry over 5 years ago you couldn't touch a 2 BR for under $200,000. In real estate the prices are cyclical. Although people still speculate when the bottom will come we have no way of knowing for sure if it is already here or not. What we do know for sure is back in 2005 people were saying I wish I would have purchased back in the late 1990's. Now is your chance to avoid the "Shoulda - Coulda - Woulda's" Even if the bottom is still to come interest rates are now leveling out and back on the rise to a small degree. Often the interest rate is a more important factor than the final price. Yes there are still properties moving from market rate to short sales and foreclosures which is an indication prices will continue to fall, but a savvy buyer will weigh the interest rate against the risk of holding out.  With most of our sales even distressed properties only being discounted by 10% of asking price now may be your time to identify a property and purchase while interest rates are low and prices are not rising. In addition to the price factor you also have to consider the advantages of owning a vacation property. Steamboat is all about the lifestyle. Whether it is an investment to gain equity or not, it is an investment in your families happiness and a calmer less stressful way of life. I hope you find your dream home in 2010. I would be happy to help....


End of Blog..............................................................................................................................................If you are looking for a home site, completed home, condo or townhome, in or near Steamboat Springs, Colorado... Contact me: Michelle Diehl, GRI Broker Associate at Prudential Steamboat Realty. I work as a Buyer's Agent for my clients. I also represent Sellers. If you are buying or selling in the Steamboat Springs or surrounding areas, I can provide what you need. I am paid my success fee only after you experience success! Contact me today and let’s get started... web: SteamboatDream.com e-mail: MichelleDiehl@comcast.net cell: 970.846.1086 office: 970.879.8100 EXT 434