928 Mesa Dr. Rifle, $548,700

To give buyers a better feel for a home, we are now using Virtual Tours and Walk Through videos. 

Check out this beautiful Rifle custon home on 5.58 acres with a 2,400 barn!

Click on the images for the video and virtual tour.

 

VIDEO WALKTHROUGH

928 Mesa Dr Rifle Video Walkthrough

 

 

VIRTUAL TOUR

928 Mesa Dr. Rifle Virtual Tour

 

Roaring Fork Valley Real Estate News - Glenwood Springs, New Castle, Carbondale, Basalt, Snowmass and Basalt

If you are interested in keeping up with news articles that relate to Real Estate in the Roaring Fork Valley and nationally, please visit and subscribe to my Flipboard magazine at : http://flip.it/eqWTQ

Feb. 16, 2015

Glenwood Springs Real Estate Becoming a Seller's Market

Glenwood Springs Real Estate Sellers Cash-In

 

Sellers MarketMultiple offers are back in the Glenwood Springs real estate market. With a scarcity of available homes for sale and a strong interest in the Glenwood market, interested home buyers are faced with a less than ideal scenario. Lately several clients of mine have fought tough competition with multiple offers on the table for their top choices. In just the last two weeks, two buyers bidding on homes in Glenwood Springs and another bidding on a home in Carbondale faced multiple offer scenarios.

 

This is a challenging field to navigate as it adds a complex emotional element to what is already an exciting and nerve wracking moment. Sometimes, a buyer’s first response is to raise their hands in the air and say, "Forget It" - they just don't want to get into a bidding war.

 

Pending your situation, this might be the right decision. 

 

Since Realtors are typically in the dark about how strong (or not) the other offers are, I counsel my buyers to settle on a price that they feel great about - whether the offer is accepted OR if another buyer outbids them. I also remind them that it’s not unusual to feel like they have overbid if their offer is accepted in this scenario.  It’s only natural to wonder how much the other buyer bid and why they lost. Confidence is assured through a clear strategy and a thorough analysis of the home's market value. The additional protection provided by an appraisal condition is also re-assuring to buyers in this marketscape.

 

If you are a buyer currently searching for Glenwood Springs real estate, prepare for this scenario in advance - physically AND mentally. If you’re serious about a listing, it’s imperative to be decisive and move forward quickly in submitting an offer. Over the years, I’ve witnessed buyers drag their feet over a few days before deciding to submit an offer, only to eventually find themselves in competition with another buyer. Had they reacted quicker, they could have avoided this situation altogether.

 

Bottom line: it’s a “buyer beware” market in Glenwood Springs right now. Serious buyers need to be savvy and prepared for anything - get your finances secured and be ready to make quick decisions. Your competitors are right around the block…  

 

Feb. 4, 2015

Glenwood Springs Real Estate Buyers, Beware?

According to a recent article on Realtor.com, chief economists are aligned on the thought that 2015 is heading toward becoming a banner year for real estate. Home sales, home prices and mortgage rates are all expected to increase. The Federal Reserve has communicated to financial markets that it will raise the target for the federal funds rate this year. For serious buyers, the this article urges you to move now as forecast data suggests mortgage rate affordability may decline as much as 10% in 2015.

 

While I am sometimes skeptical of articles that tell us that "now" is the time, what I am seeing in the local Glenwood Springs real estate market does seem to reflect the analysis presented in this article.

 

Traditionally, January and February are the slowest months of the year for sales in our market. This year, there was a slight pause around the holidays, but right from the 1st of the year, activity has been very strong. 

 

With the continued lack of supply, available homes that are priced reasonably have been attracting multiple offers, often at or above asking price (and above the price of similar recent sales).

 

Last Friday, I showed 3 homes to some clients looking in Glenwood and Carbondale. By the end of the day, all three properties had offers on them! I was able to show a brand new listing to clients of mine this past Sunday and it also had multiple offers by the end of the day.

 

With low supply and high demand in Glenwood we are traditionally headed toward a seller’s market. However, with the Fed reportedly “running out of patience”, perhaps now is the time for buyer’s to jump in the game and scoop up the last low mortgage rates we may see for awhile.

July 17, 2014

Local Market Holding Steady

May's Data for Garfield County is out now. Good news:

  • Bank sales dropped quite a bit with only 5 in May, compared to 16 in April.
  • Snapshot Values are looking steady:

 

  1. Single Family +6%
  2. Multi Family +17%
  3. Vacant Land -20%


There were a total of 201 DOT recordings in May with 61% of Sales having financing at the time of closing, while 39% were cash at closing. Even though it was slightly off last May - this was the best month in Gross Sales so far this year for Garfield.

YTD Gross Sales are up +14.67% from last year... and YTD . Transactions down at -5.56%. Less sales, but higher valuations!

July 8, 2014

Post Independent Local's Choice 2014 Best Realtor

Glenwood Springs Locals Choice Award 2014Wow – What a pleasant and humbling surprise to have been voted Best Realtor by the locals!

Representing a client in a real estate transaction is a very serious business, involving not only the largest single asset most of us ever own, but also our hopes and dreams. I am so grateful to all of my clients who have placed their trust in me to help them through this process and for continuing to recommend me to their friends and family.

And now, I am grateful to all of you who voted for me in this competition.

 

 

Posted in News
June 16, 2014

Are Garfield County Home Values Leveling off?

Home ValueDo you believe in statistics? Do you believe that increased supply lowers prices and increased demand raises them?

Back in 2007, I was still a relatively new Realtor and didn't really pay too much attention to the market stats. After the crash, I went back and analyzed what happened in our market and was amazed to see that the writing was on the wall that prices would start to fall as early as the middle of 2007. Despite this, prices continued to rise through most of 2008 in Glenwood Springs!

For me, this was lesson learned, and I vowed to watch market statistics like a hawk from then on.

It does indeed all come back to supply and demand. Over the last couple of years, the supply in our local market ( typically quoted in months) came down from highs of around 48 months or more in some markets at the depth of the recession, to lows of around 2­3 months in many towns last year. As a point of reference, a balanced market is considered to have around 6 months supply.

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Jan. 8, 2014

November 2013 Pitkin County Real Estate Stats

Market update for November 2013 for Aspen, Snowmass Village and Basalt real estate market.

An uptick in sales brought numbers back in line with 2012 numbers in terms of transactions and overall volume this month. Average prices continue to be down year on year. 

 

For full analysis:

Aspen, Snowmass, Basalt Pitkin County market analysis November 2013

Jan. 8, 2014

Garfield and Pitkin County Market Stats for October 2013

Market update for October 2013 real estate activity in Aspen, Snowmass, Basalt, Carbondale and Glenwood Springs

Throughout the valley, the almost frenzied activity earlier in the year appears to have calmed down as we enter into what could be considered a more stable market.

Foreclosures have continued to be a significant part of the market in the Mid to Lower Valley (El Jebel, Carbondale, Glenwood Springs, New Castle) whilst being all but non existent around Aspen.

In the Aspen market, dollar volume, median prices and number of transactions are down slightly year on year whereas further down valley the numbers are very close to last year.

 

For full stats:

 

Garfield County Market Stats October 2013

 

Pitkin Count Market Stats October 2013

Nov. 27, 2013

Conforming Loan Limits - Good News for Garfield County and the Roaring Fork Valley

Fannie Mae has just announced that the conforming loan limits for 2014 in Garfield County will be raised to $625,500 from $417,000.

This is good news especially for higher dollar neighborhoods in Glenwood Springs and Carbondale. Previously, sellers in these areas whose homes were worth more than the $417,000 had a harder time selling because borrowers had a hard time getting financing without a very large down-payment. This was particularly evident in Blue Lake where some homes are in Garfield and some are in Eagle (whose conforming limit was already $625,500).

Conforming loan limits in Eagle and Pitkin Counties remain unchanged at $625,500.

Nov. 25, 2013

Garfield and Pitkin County Market Stats for September 13

According to Land Title's mot recent analysis of sales in Garfield and Pitkin Counties, sales volume has continued to show steady year on year gains in both counties. While average and median sales prices are up in Garfield County, they are down in Pitkin County. Also of note is that bank owned sales have continued to decline in Garfield and are barely a blip in Pitkin County's numbers.

The absorption rate in both Aspen and Snowmass Village has continued its steady decrease with Aspen down to 17 months and Snowmass down to 16. The Snowmass decrease is particularly dramatic since it was at 50 months just a year ago. (The absorption rate is a measure of demand versus supply and the lower it is, the more balanced the market is). A large part of this decrease can be attributed to the large number of fractional sales in Aspen and the strong sales at the Viceroy in Snowmass Village over the summer.

Further down valley, Basalt, Carbondale, Glenwood Springs and New Castle all continue to have absortption rates around the 6 month mark that suggests a balanced market. This suggests that the fairly rapid price appreciation that occurred over the summer may be settling down.

To view the full statistical reports provided by our friends at Land Title go to:

Garfield County

Pitkin County

 

 

March 25, 2010

FHA loans 1 year out of Foreclosure

New HUD program makes home purchase possible 1 year out of Foreclosure!

Hud recently announced a new program called "Back to Work" that makes it possible to qualify for an FHA 3.5% down payment loan just one year after foreclosure, short sale, bankruptcy or deed-in-lieu.

The thinking behind the program is that so many traditionally responsible home-owners were forced out of their homes through the great recession and are now financially capable of taking on a home loan.

There are some pretty specific requirements that must be met:

1. The home that was lost / short sold / given back to the bank must have been your primary residence.

2. You must be able to demonstrate that you suffered at least a 20% reduction in income for at least a 6 month period leading up to losing your home.

3. You must take a HUD home buyer counseling class at least one month before submitting a new loan application.

4. You must meet all the normal requirements for the FHA program such as income / debt ratios.

5. Your credit since losing your home must demonstrate that you have had not had any additional credit issues.

 

If you think you are ready to take advantage of the lower prices and lower interest rates and feel that your finances are stable again, this can be a great option.  My biggest recommendation would be to meet with a lender at least 2-3 months before you would like to make the purchase so that you can over the program requirements and make sure that there aren't any items on your credit report that will affect your application (and if there are, take measures to fix them!)

With so many home-owners in local towns like Carbondale, Glenwood Springs and New Castle having been forced into foreclosure or short sales over the last few years, this program will present a tremendous opportunity to get back into long term home ownership with home payments that are in line with earnings and rent.

Here is a link to the letter that outlines the required criteria:

portal.hud.gov/hudportal/documents/huddoc?id=13-26ml.pdf

 

 

 

Posted in Financing