25 Apr Don’t Wait!

Prices on the Western Slope aren’t going down at the moment and neither are interest rates.  We have heard from more than one of our clients “I sure wish I would have bought property last year instead of waiting.”  The median price of a home in Montrose County has gone up over 16% from 2021 to 2022 year to date.  The other counties up and down the Western Slope have increased as well.  In fact, Ouray County reflects a median price increase of 11.7% from March of 2021 versus March of 2022.  Coupled with that, the interest rates are increasing and pricing some buyers out of the opportunity to purchase property right now.  Current mortgage rates are around 5% depending on the length and type of loan.  One source we have says that they will go up a full percentage point in the next year.  (Contact us if you would like info for local lenders here in Western Colorado!)  So, don’t wait!  If you are thinking of purchasing property here, contact us to help you through the process.  There are still some reasonably priced properties and good loans to be had.

We have started seeing the spring flowers come out and the trees are starting to green up.  We just had some spring rain and snow in the high country and of course we are getting the spring winds, but overall it’s a great time to be on the Western Slope.  Make sure you’re checking our Facebook page for some of the great events happening right now too.

Here’s wishing you a wonderful week and we hope to hear from you soon for any real estate questions you have.