Grand Junction Colorado Market Report, Mesa County.

By
Services for Real Estate Pros with Retired Realtor / Retired Home Inspector
Grand Junction Colorado Market Report, Mesa County

The NUMBER of home sales were slowly on the rise for the last quarter in Colorado due mostly to buyers taking advantage of lower home prices and mortgage rates.

Home PRICES continue to be LOWER due to joblessness and slow business overall.

As lenders complete processing on more of the foreclosures that are pending, more properties will appear on the market for sale at lower prices, this will not be helpful to home owners trying to get top dollar in today's market, as there will be many comparable homes on the market at reduced prices.

After mortgage companies formally foreclose on the homes, and the larger inventory of homes at reduced prices hit our market, prices are expected to DECLINE an additional 5.1% in 2012. Savvy home buyers have learned to search for homes that have been foreclosed upon at discount prices and homes that are offered as short sales. This makes it a tough market for home sellers.

Recovering from the economic fallout of the financial crises is not expected for quite some time, according to real estate analysts. The impact of the foreclosure crisis is expected to be long lasting.

Percent of estimated decline in Grand Junction Home Prices

In Grand Junction home prices are declining at some of the fastest rates in the state. But hopefully, IN THE LONG TERM this will not be the case. With the exploration and developments in the natural gas industry in our region the future may be promising.

The Bookcliffs, (a geologic formation) located on the outskirts of Grand Junction, are said to contain more oil than 5 times that of Saudi Arabia at an estimated 1.5 trillion barrels of oil. These oil shale reserves will someday be mined, sending home values much higher due to employment opportunities and increased income, and a demand for housing for workers in the oil and gas industry.

The Bookcliffs, Grand Junction Colorado

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Posted by


Cheryl Dickson
970-462-5100 Wichita Falls, TX

Staff - Wichita Falls AssociationĀ  of Realtors

eMail: InspectASAP@aol.com

Retired Realtor-GRI / Retired Home Inspector

Comments (14)

Cheryl Dickson
Retired Realtor / Retired Home Inspector - Oklahoma City, OK
Retired Realtor, GRI / Retired Home Inspector

I DID IT! I wrote a Market Report! Heavily researched, and spent quite awhile to make sure it was accurate. I made the chart using CHART GO a FREE site to EASILY create Charts and Graphs! It was SOOOO Easy! Took me 2 minutes! No kidding!

Jan 29, 2012 01:16 PM
Vince Chinell
VICO Home Inspection - Branson, MO
CPI

Cheryl,  Great Job!  From an inspector with a background as a Realtor I would expect no less.  The future of Colorado and especially the Grand Junction area look bright.  Let's hope the much better economic times are ahead.

Jan 29, 2012 01:46 PM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Cheryl - Great, local real estate market report.  You've given both buyers and sellers a lot of good information to use.  Nicely done!

Jan 29, 2012 03:20 PM
Cheryl Dickson
Retired Realtor / Retired Home Inspector - Oklahoma City, OK
Retired Realtor, GRI / Retired Home Inspector

Thank You Vince, Yes, It surely needs to improve, and there's alot of hope for the future in Grand Junction.

Having been a Pipeline Superintendent on Anadarko projects, AND a Pipeline Inspector and Safety Advisor on Chevron projects, just a few years ago, I have many friends in the Oil and Gas Industry, and am hoping it picks up.

Thank you Laura, I'm hoping they find it useful. Thanks for stopping by.

Jan 29, 2012 03:44 PM
Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Cheryl. After reading your Feature post, I thought I would come back and take a look at your Market Report for Grand Junction. This is one of the Best Looking Charts I have ever seen. FREE is always nice too.

Jan 29, 2012 05:05 PM
Cheryl Dickson
Retired Realtor / Retired Home Inspector - Oklahoma City, OK
Retired Realtor, GRI / Retired Home Inspector

Thanks so much Jerry, You'll reaally enjoy making reports on the site. Go for it!

Jan 29, 2012 05:16 PM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Nice job. Now I just need to get motivated to write market reports--not my favorite thing to do.

Jan 30, 2012 01:35 AM
Ann Nguyen
eXp Realty of California, Inc. - Truckee, CA
Lake Tahoe Truckee Homes For Sale

Cheryl,

Thank you for the free chart site tip! I often stay away from doing market report for the very same reason. I will experiment with this site today.

Jan 30, 2012 02:22 AM
Cheryl Dickson
Retired Realtor / Retired Home Inspector - Oklahoma City, OK
Retired Realtor, GRI / Retired Home Inspector

Melissa, Thank You! Motivation: Localism = Exposure!

Ann, Thank You! Me too, I dreaded them! But you'll find this to be very easy! :)

Jan 30, 2012 02:59 AM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Our market is a mirror of yours. More foreclosures waiting to hit the market. Delta County posted a record number of foreclosures last year. NOW that inventory has to hit the market. We are seeing increased buyer activity. That is the good news. Prices are down...that is the bad news.

I just love your pic of Mount Garfield. The lighting is too cool.  Is there a trail to the top of that thing?

Jan 30, 2012 11:22 AM
Melissa Brown
Helen Adams Realty - Charlotte, NC
Realtor - South Charlotte NC Homes for Sale

Cheryl, beautiful charts - thank you SO much for sharing!  i love it when someone shares a useful tool that is FREEEEEE!

Jan 30, 2012 02:36 PM
Cheryl Dickson
Retired Realtor / Retired Home Inspector - Oklahoma City, OK
Retired Realtor, GRI / Retired Home Inspector

Debbie, I think alot of markets have yet to see the inventory of the foreclosures. Many did not even attempt a short sale. When they are all processed, even more homes with reduced prices will be brought onto the market.

There's several trails on the mountains, alot of dirt bike attempts to climb it. Not sure if they were successful or not. Lots of beautiful pics of our mountains as you know. Love the lighting, and sunset pics best! :)

Melissa, Thank You, really easy to make them. Have Fun!

Jan 30, 2012 09:29 PM
Gloria Todor
Berkshire Hathaway Home Services - Newtown Square, PA
& Doug Durren (484) 431-3686 in SE PA

Hi Cheryl, Your post looks great with that chart and that wonderful photo.

All the best.

Gloria

Feb 05, 2012 06:27 AM
Cheryl Dickson
Retired Realtor / Retired Home Inspector - Oklahoma City, OK
Retired Realtor, GRI / Retired Home Inspector

Thanks Gloria! The chart was so easy to make on Chart Go. Give it a try next time you need a quick chart. Have a wonderful week! :)

Feb 09, 2012 02:44 PM