Property values holding in the Colorado mountains

By Mal Sillars

Real Estate Agent with Century 21 Summit Realty

November 14, 2008 01:25 AM

Here in Buena Vista, in the heart of the Rocky Mountains, property sales are down from past years mainly because our buyers come from places where the real estate market has taken hard hits. The property values here are holding quite well, foreclosures are not an item, and finding bargains is not easy.

Potential buyers coming here with some cash to make a deal have been disappointed that there are not loads of sellers just waiting to be saved. While on an individual basis, there may be a deal to be had, they are not wholesale.

The good news is that those already here are not experiencing a huge loss of value, the downside is that the buyers are not streaming here as they usually do. But that will change. This is an amazing part of the country in which to live and play and nothing diminishes that!

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Jim Crawford

Long & Foster - Fredericksburg, VA

Jim Crawford Broker Associate Fredericksburg VA

Sounds like you are very fortunate to be in your market! You are blessed.

Nov 14, 2008 01:34 AM

Randall Schrader

Competitive Insurance of Dundee - Dundee, FL

That sounds like Florida and the boat business. The small boat builders are all but gone, while the high end boat builders are going nuts. People will buy up there because of the views.

Nov 14, 2008 02:04 AM

Sam Basel

Alpine Legacy - Estes Park, CO

REALTOR - Estes Park, Colorado

We are seeing similar results in Estes Park, Colorado. Sales are down. Median Prices and Average prices are up slightly. Buyers are coming into town expecting to get a deal and are usually turned away by sellers who are willing (and able) to wait for their price. Makes for an interesting life as a Real estate Agent! At least we live in gorgeous state!

Nov 17, 2008 09:57 AM

Joanne Hanson

Coldwell Banker Colorado Rockies Real Estate - Frisco, CO

Summit County, Colorado Realtor

Same here, in Summit County. We have a few foreclosures, but not very many at all. One or two bargains here and there, but for the most part our values are are the same levels they were a year ago. No appreciation this year, but if that is as bad as it gets, we are ok!

Nov 19, 2008 04:21 AM

Sabrina Kelley

ERA Herman Group Real Estate - Woodland Park, CO

Woodland Park Colorado Mountain Homes and Land

We are holding at 3%-5% below asking in Teller and Park counties on residentials. Land is coming in even better. A few sellers are liquidating land but for the most part they are passing up the low ball offers and holding out for serious buyers. It is funny that I should come across this post as I had this exact discussion with a client tonight. I have a great piece in Florissant.

Nov 19, 2008 02:09 PM

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Mal Sillars

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