Positive Changes Coming
Not unlike the rest of the nation’s real estate market, some pain is being felt by sellers in the Telluride region. Many however are becoming more realistic with asking prices. The most difficult segments of course are bank-owned or about to be bank-owned properties that are being sold at very deep discounts. These deep discounts have created havoc for the appraisers in the region, and not helped new buyers that require financing on more conventional transactions. For cash or high equity buyers however there has rarely been a better time than this to, with patience and persistence, find exceptional value. We anticipate for 2011 that absorption of the better priced and positioned (remember location, location, location) properties to pick up some steam when buyers see the better properties disappearing and realize these opportunities will not last forever. Call Telluride Real Estate Brokers now at 970-728-6667 if you are a buyer or a seller, and we will give you a personal update of market conditions for your property type.