mortgage interest rates, high inflation, energy costs, poor stock market
performance, and a continuing war in Ukraine, why would anyone want to look at
buying real estate in Pagosa Springs? Good question, and I have good answers
above influences have reduced the number of Buyers in the marketplace. The
middle price range, now $400,000-$800,000 is more interest rate sensitive. Dozens
of Buyers are no longer qualified to purchase, and they have left the market.
prices have changed the behavior of consumers, in our case, the families with
more limited discretionary incomes have found it too expensive to drive, let
along fly to Pagosa for a summer vacation, so the demand has lessened for
vacation rentals. With less rental income, several Owners with large mortgage
payments, have decided to sell.
Buyers are more influenced by what is happening to their stock market
investments than rising interest rates. Returns of late have been disappointing.
As a result, is higher-end homes on the market than a year ago.
forces are shifting the market to the beginning of a Buyers’ Market. Those that
see this early on are going to benefit from greater negotiating leverage, due
to more choices, and less competition. In short, smart Buyers, working with a
good Real Estate Advisor, will make exceptional buys during this period, when the
market has not recognized the shift. Call Pagosa Source now, at 970 264-7000
and let us discuss your situation.