Q: Since you’ve been in real estate for ages in Pagosa Springs, why might now be a good time to to buy?
JoAnn: For the past three years, home prices have consistently been going down and buyers have just not been willing to step off that ledge. They were thinking, “If no one else is buying, are prices going to fall a little further?” In the last few months sales have picked up and we have a sense that we have finally seen the bottom.
Q: What’s your advice for buyers thinking about entering the market?
JoAnn: You can’t time the market. Buyers need to work with a Realtor who can help them make wise investment choices, not just the cheapest choice. (That would be me!)
These days, everyone is reconsidering what value is. Even when the market was raging, buyers were making decisions that were aimed only at making money rather than what they would really enjoy owning. I think you need to have a balance of both investment and enjoyment. Never, ever buy something you wouldn’t be proud to live in, if it were your only home for the foreseeable future.
Q: What’s in your crystal ball?
JoAnn: I think you’ll see an increase in urgency because of the low interst rates we are enjoying and the fabulous inventory we have to choose from. This won’t last forever and I can see people kicking themselves for not taking advantage of their once in a lifetime opportunity in 2010.
