Well even in this new real estate market I put blogging on the back burner.
I know I shouldn't. This is the time that people have the most questions and have to stop and think about their choices a little more carefully. I saw the other day for the first time the stock market drop significantly and the interest rates rise. So, borrowed money is now more expensive and hard dollars are worth less...not good. So, when will the fed say the "R" word?
All of that aside, the Durango real estate market has remained resilient. It has definately been more of a Sellers market for the past couple of months with more listings than Durango has ever seen at one time. Although foreclosures are higher, their aren't that many fire sales happening. We are buffered by many of the homes having a big chunk of equity, a steady stream of people looking for opportunities in our area, and the lack of wholesale builders in our market driving down prices unloading product. As long as the US economy holds together and remains stable, so too should the Durango real estate market.