Market indications...

By
Real Estate Agent with The Durango Home Team at Keller Williams Southwest Associates IA 100045079

In the past two days we have seen proof that the market here is NOT healthy.  The media has indicated that housing problems in Houston have ended and things are returning to wonderful.  Really?

 

A house in our neighborhood had sold a couple of months ago with owner finance.  Over the weekend we saw a moving van in the driveway and then came a fsbo sign  offering owner finance.  Same song second verse?  Have they not heard that if you continue to do what you have done, you will get the same results?  Only difference is that they used an agent last time.

 

The second harbinger was today when we got a call that one of the lease homes owned by a family member  is vacant.  The tenant moved out in the night  

 

We were asked to get it back on the market both for sale and lease.  When we studied the market we found that during  the six months the house was leased, the market value has depreciated by about ten grand.

 

No one wants to hear that!

 

To make things less appealing, when we went by to see what condition it was in, we found piles of junk left in addition to piles of smelly garbage.

 

It will be a major cleaning project before it can be shown.  Market time lost in addition to value?  

 

These are both market indicators that we thought we were seeing but had no proof of.  

 

The good news is that this part of North West Houston is a small part of the overall area we serve.

 

The bad news is that it is the neighborhood we call home!

Posted by

KW image 

Ralph and Jeanne Janisch

Keller Williams Realty Southwest Associates

700 Main Avenue

Durango, CO 81301

O: 970-375-3252

P: (970) 759-1007

P: (970) 759-0027

 E: ralph@durangohometeam.com

W:  www.durangocoloradohometeam.com

 W: www.durangohometeam.com

Durango, Mancos, Bayfield, Ignacio, Vallecito

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  1. C. Lloyd McKenzie 09/23/2012 08:54 PM
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Rainmaker
680,174
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggresive & 560 FICO - OK, Colorado Mtgs

Sad story and even sadder to hear that the home was not taken care of. Regardless of value everyone needs a place to live and losing value should not warrant trashing the home???

September 23, 2012 08:08 PM #1
Rainmaker
876,581
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Our total economy is not in good shape. Much hangs in the balance with the upcoming election (s). It is freghting to think that our current President might get elected. There is no confidence is so many parts of our country.

September 24, 2012 02:29 AM #2
Rainmaker
1,902,598
Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for sharing your story.  Many communities are still suffering while others are seeing a strong housing recovery.  Hopefully, time will also help your local market.

Have an outstanding week as we celebrate the beginning of autumn.

September 24, 2012 06:43 AM #3
Ambassador
1,724,673
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Charles Rutenberg Realty - Palm Harbor, FL
Palm Harbor & Dunedin FL Residential Real Estate

It is indeed to hear when tenants take off in the night and leave the place in disrepair! In our local market the inventory is low and prices have started to slowly increase. Wish you the best of luck!

September 24, 2012 08:09 AM #4
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Rainmaker
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Jeanne & Ralph Janisch ABR CRS Brokers

Selling Durango CO homes to good people like you!
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