“So, you know it’s a buyers market when the locals are buying up all the real estate!” 😀
This has been our experience with the local Breckenridge, Colorado real estate market so far in 2011. I believe that people have been waiting for the bottom to hit so they can obtain the best deal possible.
Since our numbers have shown some recovery, the locals are stepping forward and taking advantage of the opportunities. Most of the homes and condos we have sold have also been cash deals. Even though the interest rates are staying low with a lot of lenders, many people have been sitting on cash and are now ready to purchase.
The other source of business has been our clients that we have been working with for years and they are seeing that prices that are rolled back to what they were around 2005-06. One client finally bought his family a log home after looking at property for nearly 10 years! The family is thrilled to be here part time and are enjoying the great snow we have had this year. He was able to buy this beautiful log home at those prices from years ago.
We had another couple that have wanted to own here for years and just bought their first townhome after renting for way too long. The figured they could now afford a place and their payments go towards their investment instead of rent paying someone else’s mortgage.
So life is good here in the mountains! Come and see us or give us a call!
PS: Oh by the way – we have a new video introducing ourselves – check it out!