Frequently Asked Questions:
What is the average amount of time for homes on the market in Pagosa Springs?
Good Morning Kerilyn,
That's funny, I actually answered this yesterday on a different site. As of yesterday, 12/15/2011, this is the information I obtained:
In the Pagosa Lakes area, of the homes that sold, the average is 168 days. Downtown the avg is 174. In Aspen Springs, the avg. is 307. On Hwy 84 south that number is 134 days. East of Town towards Wolf Creek is 126 days. In all of Archuleta County that number is 261 days. I hope that helps.
What is a CMA? and does it cost anything?
S. T. Pagosa Springs
A CMA or Comparative Market Analysis, is a report that is generated through the local MLS. It looks at Home Sales and Listings that are defined by parameters set up by the user. (Date range, Price range, Location etc.) It generally shouldn't cost you a dime. I have heard of others that Charge up $75.00 for this report and for a standard CMA summary, I don't charge a thing.
I have my home listed with another Agent in Pagosa Springs and it has now been on the Market for over 7 months. Is the Market that bad up there that no one is buying?
Sandy R. AZ
On the contrary, The amount of volume is the best it's been since 2006. If you look at the page on my website about Sales History,(In the Buyers Section, 4th page) you'll be able to see the numbers.
The first couple of thoughts I had about your home were that it's either over-priced or it isn't showing well. If your Agent sent you a CMA, look to see what he/she recommended you list the price at. It should be "Solds" not "Actives" If it is not showing well, you may want to consider hiring a professional Home Stager. Home Stagers can make your home look like a show-room model. There is cost involved and if you decide to make that move, I can give you the names of a couple so you can shop around.
THIS IS FOR JON,
HOW LONG HAVE YOU BEEN IN REAL ESTATE? WHAT KIND OF EXPERIANCE DO YOU HAVE? WHY SHOULD I PICK YOU OVER THE OTHERS OUT THERE?
I took the Licensing test in September of 2007. My first job was at Prudential in April of 2008. I have both Residential and Commercial transactions under my belt. My very first deal was a Car Wash. I have also done Short Sales and Foreclosures as well as general brokerage. I have dealt with Fannie Mae, Freddie Mac, HUD and other financial institutions. You should pick me because I work for my Client and I ANSWER MY PHONE. There are some Agents that don't like talking on the phone and I can't figure that out. Communication is an integral part of ANY Client-Agent relationship. I believe that any Clients deserve that respect. They need to know what is happening, As it Happens!
Jon how do I know I can trust you?
Dawn A. Colorado Springs, CO.
Good afternoon Dawn,
You don't. Emails do not convey trust. The first thing I recommend to folks that send me an e-mail is to call me. Having a voice on the other of the line is essential. I, personally prefer it. It gives of us the opportunity to talk with each other and truly get a feel of the personality, energy and commitment of the other person (This benefits both of us). Listening to someones voice can and does make a difference. If you are here in town, we can meet at the office and sit down over coffee and chat.
Why would vacant lots in the same subdivision be so differently priced ?
When the current owner of the property lists it, they are basing their decision on what they value the property at. Having a water tap fee paid, (right now around $7500), location, view, lot size etc. are also determining factors. Some of the owners that purchased a land lot on the high or near high time of the market consistantly over-price the property when selling, without even considering the fact that they may have bought at the wrong time. If they want to keep it, the value will come back. It always does.
Do you see the property values/market coming back any time soon?
Cheryl S San Bernardino CA
Yes... For the most part the prices have finally leveled off and are relatively consistent right now. There are places right now that have actually started going back up in price. (East of Town and the Meadows subdivision) just to name a couple. I really don't see a "Total" recovery until about June of 2013. I may be wrong and I'll keep my fingers crossed that it will come back sooner. ;)
HOW MUCH DO I NEED FOR A DOWN PAYMENT? WHAT KIND OF FINANCING IS REQUIRED FOR A FORECLOSURE?
Depending on the type of transaction, it could be as little as 1% Down (USDA), 3% Down (Fannie, Freddie or HUD) or anywhere from 10-20% down (Individual Banks/Lenders). A friend of mine purchased a home recently and she had a substantial down payment. (Over 20%) She could have payed as little as the 3% down because it was an FNMA owned home. She chose the higher down to do a couple of things. 1. She lowered the amount of her Mortgage and 2. Lowered her monthly payment. Her Mortgage payment is approximately 60% of what her rent was, before buying this home. If you are focusing on REO's (Foreclosure's) Many times you'll be able to qualify with a down of 3%. These are usually Fannie, Freddie or HUD Homes.