We are once again in a rapidly changing market, but this time it is moving the other direction. The Supply of available homes in the Roaring Fork Valley has dropped dramatically in the past months and demand from buyers is still increasing. We are also coming into the busiest time of the year for real estate in this area.
What this means for sellers: If you have been waiting for prices to go up before you list your home for sale….wait no more. Garfield County is up 7% over last year and my belief is that it will be more than that for the 2013 numbers.
What this means for buyers: Don’t wait. Mortgage rates are still at historic lows, which is one of the biggest factors in determining how affordable your payments will be, and there are still some great opportunities to find a home at a great price. Prices and mortgage rates are not likely to stay this low for long.