We've moved!

Hey everyone! I wanted you to know that this will be my last post at blogger.com, but never fear, we've integrated this great blog with my website, where I will happily continue to blog away about Durango Real Estate and other interesting & valuable topics!

Please come visit me soon at www.blueribbondurango.com/blog. I look forward to seeing you all there!

Claudia Williams
970 247 8388

P.S. Search the MLS at http://www.blueribbondurango.com/mls.php or email us to receive listings as they hit the market

P.P.S. Determine the value of your home, call me today

Should I buy a house in Durango this year?

That is the million dollar question, isn't it? It is a buyer's market so there are lots of choices out there. Luke Miller, assistant business professor at Durango's Fort Lewis College, wrote about just this in his column in the Durango Herald today. He thinks the prices will continue to go down this year, I agree that's probably true. But when will they turn around and start going up? As a buyer, you want to be negotiating with sellers when the prices are still going down. Once they start going up it's too late, all the good deals will be getting multiple offers....

All that being said, it's imperative before buying to be sure you can afford the house and have plans to stay there for a number of years. Call me to discuss further.

Here is the link to Luke Miller's Durango Herald Article.

Claudia Williams
970 247 8388

P.S. Search the MLS at http://www.blueribbondurango.com/mls.php or email us to receive listings as they hit the market

P.P.S. Determine the value of your home, call me today

P.P.P.S. Did you know that I just signed up for voicemail to text conversion on my cell phone? I must say they do a really good job converting most of the messages correctly, every once in the while this service provides me with some good laughs! Stay tuned for more on this and Durango Real Estate tomorrow.

Market Pulse - quick update from Shaheen and Claudia

We are still working on figuring out the best way to keep you abreast of the market situation. We are not supposed to post links to the MLS, but Shaheen put together a nice presentation for my blog so I'll make an exception and put this up for a bit and then take it down again in a few days.

One thing I know, Spring is here and there are more and more listings again, I have 23 new ones today on my MLS home screen, and 3 solds. Keep checking back for more.

Here is Shaheen's Market Pulse of the day:

"Has ANYTHING on the market been selling?"

This is a question I am often asked by clients, friends and family. Everyone says nothing is moving in this market. So what do you think? Has anything been selling? If properties are selling, what kind of property is moving?

Looking over MLS records:

*** 57 Residential homes 9 vacant land listings have sold in LaPlata County since January 1st. (Up today; 3/16) Average home price that has sold in LaPlata County since January 1st 2009: $347,000.Average days on market: 211Sold home prices ranged from $29,500-$1,275,000

Click here for these properties:

*** What about in the last 2 weeks? Here are the homes that have sold in March so far:
12 residential homes 2 vacant land listings

Click Here to View Sold in March Listings

Yes, properties are still selling but not as many and the properties in lower price ranges appear to be more popular. From the clients I have had in the last few most the majority were locals. All in all, the Durango market is not as bad as some may think.

That's that from Shaheen, thank you! I agree, there are a few more closings and more and more showing going on and pending sales. If you'd like to see any listing/comps in particular just email or call, or you can even leave a comment here on our blog without signing in.


Claudia Williams
970 247 8388

P.S. Did you know that 111,111,111 x 111,111,111 = 12,345,678,987,654,321 ?

What is a blog anyway?

Until I started writing my own blog recently I had no or little insight about what all this blogging is about either. So here it is, my rookie definition of a blog:

It's a way to easily publish articles onto your website for the public to see. Writing blog articles, however, is a lot less formal than other articles and what makes it fun is the personal and opinion aspect of blogging. Bear with me while I figure this out and I'll try and make it both informative, with real estate news and Durango info and fun...

I found that with the recent real estate market and economic challenges everyone is hungly for lots of information as possible before making selling or buying decisions. I'm hoping to help out by posting what I know or find out about.

What is the propper definition of a Blog (Web Log)?

To let the Wikipedia tell you - Click here.

And, if you like, watch this short video for more insight:

What is a blog in plain English

Thanks for checking out my blog!

Claudia Williams
970 247 8388

P.S. Did you know that the only 15 letter word that can be spelled without repeating a letter is uncopyrightable.

Durango Real Estate News - Forecast looking brighter...

Yesterday's annual real estate forecast event at Fort Lewis College showed some positive aspects, but also the usual doom and gloom. Real estate sales (in terms of volume) are forecasted to pick up, prices to slide after holding steady in 2008. This is all no surprise, after the very few sales last year the volume is bound to go up, and the increase in foreclosures, short sales and better deals should bring the price down and make it an excellent time to invest in real estate.

Click here for today's Durango Herald Article:

Check back often or follow this blog for updates on deals as they arise.

Claudia Williams
970 247 8388

Did you know that Pinocchio is Italian for "pine head"?

Life's for Sharing

In case you missed it hidden at the bottom of yesterday's post, here it is again. The T-mobile life's for sharing ad, filmed in England, Liverpool station last month. Over 7 million people have watched this. It will make you smile:


http://www.youtube.com/watch?v=VQ3d3KigPQM


Claudia Williams
970 247 8388

P.S. Search the MLS at http://www.blueribbondurango.com/mls.php or email us to receive listings as they hit the market

P.P.S. Determine the value of your home, call me today

Tips for Spring Sellers

A house that "sparkles" on the surface will sell faster than its shabby neighbor...

...even though both are structurally well-maintained.

From experience, REALTORS® also know that a "well-polished" house appeals to more buyers and will sell faster and for a higher price. Additionally, buyers feel more comfortable purchasing a well-cared for home because if what they can see is maintained, what they can't see has probably also been maintained. In readying your house for sale, consider:

• How much should you spend

• Exterior and curb appeal

• Preparing the interior

• How much should you spend! (Not a typo!)
  

In preparing your home for the market, spend as little money as possible. Buyers will be impressed by a brand new roof, but they aren't likely to give you enough extra money to pay for it. There is a big difference between making minor and inexpensive "polishes" and "touch-ups" to your house, such as putting new knobs on cabinets and a fresh coat of neutral paint in the living room, and doing extensive and costly renovations, like installing a new kitchen. Your REALTOR®, who is familiar with buyers' expectations in your neighborhood, can advise you specifically on what improvements need to be made. Don't hesitate to ask for advice.

Maximizing exterior and curb appeal

Before putting your house on the market, take as much time as necessary (and as little money as possible) to maximize its exterior and interior appeal. Tips to enhance your home’s exterior and curb appeal:

• Keep the lawn edged, cut and watered regularly.
• Trim hedges, weed lawns and flowerbeds, and prune trees regularly.
• Check the foundation, steps, walkways, walls and patios for cracks and crumbling.
• Inspect doors and windows for peeling paint.
• Clean and align gutters.
• Inspect and clean the chimney.
• Repair and replace loose or damaged roof shingles.
• Repair and repaint loose siding and caulking.
• In Northern winters, keep walks neatly cleared of snow and ice.
• During spring and summer months consider adding a few showy annuals, perhaps in pots, near your front entrance.
• Re-seal an asphalt driveway.
• Keep your garage door closed.
• Store RVs or old and beaten up cars elsewhere while the house is on the market.
• Apply a fresh coat of paint to the front door.

Maximizing interior appeal

Enhance your home’s interior by:

• Giving every room in the house a thorough cleaning, as well as removing all clutter. This alone will make your house appear bigger and brighter. Some homeowners with crowded rooms have actually rented storage garages and moved half their furniture out, creating a sleeker, more spacious look.

• Hiring a professional cleaning service, once every few weeks while the house is on the market. This may be a good investment for owners who are busy elsewhere.

• Removing the less frequently used, even daily used items from kitchen counters, closets, and attics, making these areas much more inviting. Since you're anticipating a move anyhow, holding a garage sale at this point is a great idea.

• If necessary, repainting dingy, soiled or strongly colored walls with a neutral shade of paint, such as off-white or beige. The same neutral scheme can be applied to carpets and linoleum.

• Checking for cracks, leaks and signs of dampness in the attic and basement.

• Repairing cracks, holes or damage to plaster, wallboard, wallpaper, paint, and tiles.

• Replacing broken or cracked windowpanes, moldings, and other woodwork. Inspecting and repairing the plumbing, heating , cooling, and alarm systems.

• Repairing dripping faucets and showerheads. Buying showy new towels for the bathroom, to be brought out only when prospective buyers are on the way.

• Sprucing up a kitchen in need of more major remodeling by investing in new cabinet knobs, new curtains, or a coat of neutral paint.

We'd be happy to come by and offer our modest opinion on how make your house appeal to the highest number of people, thus increasing your chance of selling at full price in the shortest amount of time.

Even better...

Get a free - no commitment - market valuation and price analysis for your home. That means based on other sale in the area and what is currently for sale in your neighborhood we will help you determine a realistic market value that will ensure a sale of your house at top dollar.


Check out this video: Maybe it will remind you to enjoy your day-to-day!


Claudia Williams
970 247 8388

P.S. Search the MLS at http://www.blueribbondurango.com/mls.php or email us to receive listings as they hit the market

P.P.S. Determine the value of your home, call me today

Market Pulse - I thought it was a Buyer's Market!

Two days ago I posted that homes in town Durango are selling for only 4% under asking price. Why is that, I thought it was a buyer's market. Doesn't that mean that buyers can get great deals?

First off, Durango in town properties are likely the most popular properties and our average price is just under $400,000. I suspect that as you move up in price and include rural homes on acreage the selling price/asking price difference will go up.

I looked at all Durango home sales for Jan and Feb 2009 and found that 15 homes sold for an average of 6.8% under asking price. For a $500,000 home that would mean a $30,000 discount. Looking at the details, the higher the price, the more difference. Click here for the summary. For exampe, the highest priced home for $1.6 Million closed for $400,000 under asking.

Check back soon and often for up to the minute real estate news.

Claudia

Claudia Williams
970 247 8388

P.S. For more market statistics check out my current market page on my website: Click Here.

Did you know that the combination "ough" can be pronounced in nine different ways? The following sentence contains them all:
"A rough-coated, dough-faced, thoughtful ploughman strode through the streets the Scarborough; after falling into a slough, he coughed and hiccoughed."

Market Pulse - Durango, how much under asking price are houses actually selling for???

How much money are seller's leaving on the table these days? We hear about low ball offers but in Durango that is not necessarily the case. I was out showing property yesterday to a client and she told me that she thinks her husband wants to "totally low ball", meaning offer about half the asking. I took a few moments this morning to look up the relevant past sales and pending listings. In this case I looked at in town Durango, single family homes up to $450,000 and with 1-4 BR. I looked at everything that had sold between Jan of 2008 and today, March 7th, 2009. We had 89 sales and there are currently 5 homes pending sale in this category.

Now, to see how low sellers might go, I compared the last asking price with the actual closing price. They ranged from a high of 16% under list price to list price and two homes actually sold for more than asking (presumably the seller gave some concession so the buyer paid more, maybe some loan points or down payment assistance...) On average the homes closed for 4% under asking price. I must say I was surprised, I thought the percentage would be higher, the way everyone is talking about the buyer's market right now. I'd love to hear your thoughts on this.

I do know that seller's are dropping prices to get their home sold. From these statistics I would deduct that the homes that are actually selling are those homes that are priced at the market, meaning at a low enough price for the home to actually sell, and the buyers will actually pay close to asking price. The other reason might be that the buyer's here just don't make low ball offers. The other day I was talking to an agent in the Denver area and he said all he gets are low low offers. You tell me, Mr. and Mrs. Seller, what would you rather have, low ball offers or no offers? Finally, our sellers are likely not as desperate and are not accepting those low offers when they do come in.

Here is a link to the report I printed out for my buyers. Click Here for these Market Statistics. I can also email you a link to these sold and pending listings with pictures etc if you'd like more info. Due to MLS rules I'm not allowed to post a MLS link on my blog.

As far as my buyer's go, we talked about making an offer that's low, but not that low. We'll probably stick to an offer of about 10% under asking.

Want more information? Ask me anything. I'd love to hear from you.

If you don't want to leave your contact information but have a questions you can comment right here, publicly, in the comment section of this blog and I'll get back to you here. All you will need to do is come back to this page to see my answer.

Claudia

Claudia Williams
970 247 8388

P.S. For comprehensive real estate market statistics and pretty graphs on Durango Area Real Estate for the past three years click here.

Did you know that, by law, citizens of Vermont must take at least one bath a week?

Attitude is everything! How to create your very own stimulus package...

Realtors Need a Stimulus Package!

As a Realtor, a stimulus package from the government would be nice. If it’s good for AIG to receive billions, why not us? Imagine, all NAR (National Association of Realtors) members receiving a check from Uncle Sam for a million dollars because our industry has been hit by such a negative downturn.

Well, we know that’s not going to happen, so our only option is to put on our “big girl” or “big boy” panties on and create our own emotional stimulus package. Here’s my thoughts, and the great news is, it won’t cost the government a penny.

How many time have your heard “Attitude is Everything”, well, it is. Although we are on a rough road, feeling hopeless and complaining about the situation won’t help. We need to figure out how to stay positive, and work harder than ever knowing that there is light at the end of the tunnel. Check out www.happyrenews.com

Turn off the news. We as Realtors know better than anyone what’s going on out there, we don’t need Matt Lauer to confirm it over and over. I’m not saying to turn a blind eye to what’s happening in the world, just don’t over load yourself with negative media news. Be informed, not inundated.

Concentrate on what you’re grateful for. We all have things in our lives to be thankful for. Our families, kids, friends, pets, our health. We live in the greatest country in the world where possibilities are limitless if we are willing to work for them. Make a gratitude list and read it daily.

Stay focused on solutions, and share them with other people. We are in the place where we need to think out of the box, come up with new ideas and not be afraid to try them. Through imagination and creation comes thoughts and actions that will help lead us to recovery.
Support your fellow Realtor. We are all in this together and need to support each other through it. A laugh and some kind words goes a long ways these days.

Optimisim, PASS IT ON.

Reposted with permission from Sue Brown, Prescott Real Estate, www.prescotrealestateroundup.com
I couldn't have said it better. My thoughts exactly. Passing it on.

If you need a peptalk, call me.

Claudia Williams
970 247 8388

P.S. Search the MLS at http://www.blueribbondurango.com/mls.php or email us to receive listings as they hit the market

P.P.S. Did you know that a duck's quack doesn't echo, and no one knows why?

Market Pulse - Real Estate in Durango, Sold and Pending

Here it is, the information you've been waiting for. A timely and useful overview of the real estate market. It's pretty easy to get statistics for the previous year /quarter, but to get info on what has sold and went under contract this week... A little tougher.

I'm here to help you (once I figure it all out for myself that is). I've been told that MLS rules prevent me from publishing links on my blog, unfortunately, that would be the easiest way, although our MLS is undergoing technical difficulties today... Soooo, I will publish PDF summary files as soon as I have the pdf uploader in place, hopefully in the next day or two, so keep checking back.

In the meantim, you can get sold statistics for the previous years at durangorealtor.com website: here's the link

I will give you a quick overview of in town Durango home sales since Jan 2009 (as of today, 4-5-09). I will post the pdf shortly. This info is based on Durango MLS, is deemed accurate but not guaranteed.

In town Durango - Sold 13 homes and condos, priced $159,000 to $469,000, avg days on market 164.

In town Durango - Sale Pending - 20 homes and condos, priced $ 159,000 to $589,000 (this indicates the market is picking up and we should see more sales in March and April)

In town Durango - Currently Listed - 332 listings priced from $135,000 to $2,200,000, with an average days on market of 248 (this indicates to me that only about one in about 8 houses only will sell this year)

I'm working on getting you more information and analysis, bookmark this site and check back often. Watch for email subscription feature coming up soon too. Thanks for checking this out. Feel free to leave comments (anonymous is ok) and questions and I will do my best to answer them.

Claudia

Claudia Williams
970 247 8388

P.S. Search the MLS at http://www.blueribbondurango.com/mls.php

Why Is It So Difficult to Get a Home Loan? and some local solutions...

Why is it so hard to get a loan these days? Two years ago everyone could get a loan, now it seems like nobody can get a loan. There are many aspects that go into how you can qualify. Surprisingly, it's not just your credit rating or financial stability. It's not even just the economic situation. The banks are requiring people to have money and show that they know how to pay it back. For those lucky enough to be able to get bank loans, now is the time to buy and invest in your future.

Read this Realty Times article for more insight:

Why Is It So Difficult To Get A Home Loan? Answers To A Popular Home Buyer Question http://realtytimes.com/rtpages/20090304_homebuyer.htm

Locally, how is Durango doing on the loan front? There are lots of reasons to get a new loan now (if you can qualify), like low rates, tax rebates for first time home buyers and the best buyer's market in years. I have asked local lenders to comment on this post to give you their input and local contact info, so bookmark this page and check back often.

Finally, challenging times call for creative solutions. Even if you can not qualify for a conventional bank loan might be other ways. All hope is not lost. It's time to think outside the box. I am trained in trade and exchanging (EMS, Equity Marketing Specialist), including creative solutions such as seller financing, wrapping loans, creating and selling notes and a number of other potential solutions for getting the deals done.

If you have questions, please call or email me. I love to discuss real estate and other things too.

Claudia
970 247 8388
claudia@blueribbondurango.com

Durango - Uprise in Entertainment, Filmfest and more

Durango, for a small town, has an amazing arts, music, entertainment scene. The Durango Independent Film Festival starts tomorrow (Wednesday, March 4th, 2009 through Sunday) with free screenings at the Abbey Theatre. The lineup of films looks better than ever, check out their website at www.durangofilm.org for more info and see todays Durango Herald Article on the Film Fest Movies.

Claudia

More on Durango Arts and Music Community, by Shaheen Hangval, Buyer's Agent at Blue Ribbon:

In the last year I have noticed a major positive shift in the music and arts community here in Durango. I would have to devote most of the credit to new owners or new management. The Durango art center has had a complete face lift and how offers more melodrama shows, fundraisers and gallery exhibits. The taste of Durango is a fun annual outdoor main street event that is growing each year. This gives the restaurants in town a second in the spot light to show off their skills and delicious foods as well as enjoys some fun with the family.

The Abbey Theater has also taken a big step up showcasing much bigger names. In just the last month big names have popped up like; Legend - Martin Sexton, Great American Taxi (members from Left Over Salmon), and reggae singer - Anthony B. For example, I went to the Anthony B. show last night and it was packed, sold out, on a Monday night! That is pretty impressive. Everybody was excited, jumping around, it was the best reggae show I've seen in years.


Durango's annual independent film festival continues on for another fun year with 24 documentaries, over 10 features, 5 adventure films, 37 and short films! Within this list includes local entries and stories as well as Nationwide featured films.

New restaurants and downtown pubs have also been a big hit. Names such as The Durango Brewery, The New Ska Brewery, The Cairo Cafe, Raider Ridge Cafe, Derailed, The Irish Embassy etc are added to the list of favorites downtown spots. Food, festivals, film & fun! What more could you ask for?

This town is on the rise!

Here are links to a few of the organizations/events mentioned here:

Durango Arts Center: http://www.durangoarts.org/contact.cfm
Taste of Durango: http://www.tasteofdurango.com/
The Abbey Theater: http://www.abbeytheatre.com/
Durango Film Festival: http://www.durangofilmfestival.com/


Shaheen Hangval
Broker Associate/EcoBroker/Buyer Specialist
Blue Ribbon Properties
835 Main Ave. Suite # 214
Durango, CO 81301

Office: 970-247-8388
Fax: 970-247-8360
Toll Free: 1-888-747-8388
Shaheen's Cell: 970-769-2441

Why are we sitting on this fence? ... and who are they?

Get off that Fence! If you want to buy a house, now is a great time to do it. Don't worry about "them", who are they anyway. This is your life. Take control. Call us to discuss the market in Durango, or wait for tomorrow's post on the market activity here. 970 247 8388.

Below is a link to an article from Realty Times which outlines the reasons why now is the time to buy. To begin with, mortgage rates are low - close to historic lows. Inventory levels are high - no need to "settle" on a home that's not really what you want. Sellers are motivated. For first-time homebuyers, there's a $8,000 non-repayable tax credit from the government to take advantage of. Some buyers are waiting until we reach the "very bottom" of the market. However, we may have already reached the bottom - when prices start going back up, we'll know for sure. Buyers need to realize that if they wait for prices to go lower, an increase in mortgage rates could eliminate any advantage they gained by waiting for prices to go down a few thousand dollars.
http://realtytimes.com/rtpages/20090226_fence.htm

And don't miss this video or the realtor commercial, it's hillarious.

National Association Of Realtors 2009 Commercial

Merit Leighton in the new 2009 public awareness campaign for The National Association Of Realtors.00:33 - Jan 2, 2009 - 1 month ago -
(1 Rating) - - Rate: youtube.com