Tag Archives: Pagosa Real Estate

Fewer Foreclosure Filings = Future Foothold

It was announced today that Colorado’s foreclosure filings were down this year 27% compared to that of 2010.

Pagosa Springs foreclosures have seen a similar decline. My last calculations for Archuleta County came in at 24.3% down from last year.

The pace of sales going into late Fall are staying moderately stable, keeping us all busy here before the Holidays. If this trend continues, we could be seeing firmer ground in the home prices. (but be careful about listening to me, I’m a hopeless optimist)

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Low interest rates + Low Prices = Gift of a lifetime

If You Don’t Buy a House Now, You’re Stupid or Broke

Interest rates are at historic lows but cyclical trends suggest they will soon rise. Home buyers may never see such a chance again, writes Marc Roth

 Well, you may not be stupid or broke. Maybe you already have a house and you don’t want to move. Or maybe you’re a Trappist monk and have forsworn all earthly possessions. Or whatever. But if you want to buy a house, now is the time, and if you don’t act soon, you will regret it. Here’s why: historically low interest rates.

 As of today, the average 30-year fixed-rate loan with no points or fees is around 5%. That, as the graph above—which you can find on Mortgage-X.com—shows, is the lowest the rate has been in nearly 40 years.

 In fact, rates are so well below historic averages that it should make all current and prospective homeowners take notice of this once-in-a-lifetime opportunity.

And it is exactly that, based on what the graph shows us. Let’s look at the point on the far left.

In 1970 the rate was approximately 7.25%. After hovering there for a couple of years, it began a trend upward….Read more

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