Buying a Home or Land in Fall 2022?

It is funny how businesses evolve. And, for whatever reason, we are finding that our niche is being carved out mostly by folks migrating into our region. 

Black Canyon Homes has a bit of a following from folks from Texas, California, Arizona and Pennsylvania. Nothing like a brick tudor exchange for a log cabin. People are moving to Colorado's Western Slope!

The point is what? Well, mortgage rates have been going up. We are in the fives now. Not so bad compared to when we bought our first house. The inflationary impact changed a number of things, especially a couple years ago for new builds. But, what we are finding at this moment is that thirty-one consecutive months of price bumps saw its first downturn this July. That has led to inventory finally creeping back up a bit. Choices! Nice.

The only issue with this is that demand has built up. In towns like Crested Butte, it is very challenging to find something affordable (relative comment). We still see offers coming in quickly with some folks making offers site unseen. Other areas are seeing a little softening. Montrose isn’t quite as hard core as it was. 

Our conclusion is that the communities you desire still dictate everything. If you are soft on the where, you can find the tilt towards the buyer. If you are bent on a specific area, the seller might have the upper hand.

Do your homework. Deals are there. And, then they are not. You still may need to be quick on the trigger.