There is really no better time (price, financing rates, incentives) then now for buying Durango real estate. Between lower prices, motivated sellers, financing rates and other incentives, the local market is ripe for a good deal. At some point this will change, and once sellers realize buyers are back, prices go up, inventories drop and negotiations get harder and deals skinnier.
Here are four compelling reasons to invest in the Durango real estate market today:
1. Durango did not experience the major run-ups in real estate during the early 2000’s boom years.
2. No one can truly predict markets, however our local real estate market did drop between 2007 and 2010, and is now showing signs of recovery. In desirable and unique areas such as Durango, there will almost always be limitations on inventories. This means that similar markets tend to recover more quickly than national or regional markets do.
3. Lowest interest rates in 37 years (for qualified buyers). We will likely never see both real estate prices low and interest rates this low at the same time again. If you’ve been waiting, now is an excellent time.
4. The Baby Boomer generation is retiring and are migrating to the South, West and Southwest. Durango is in the banana belt of Southwestern Colorado, and is in a prime location for mild weather, cultural, recreational and lifestyle pursuits.