Looking to Move?

Several months ago, we saw a trend where buyers and sellers were backing off from the market a bit. The news and other sources were touting a big price drop in real estate - a crash even.

It scared folks.

A report just came out where Fannie Mae was predicting a 4.2% drop in prices for 2023 but recasted their numbers to a fraction of that at 1.2%. 

Their initial report scared folks.

That fear can cause you to miss the home of your dreams. We are still seeing listings go under contract in a day. No, not every single listing does, but it is still happening nonetheless.

The good homes go quickly in the Western Slope markets. Gunnison and Ridgway are still hot markets. Teh southern end of Montrose is still hot. Inventory is not over-abundant. 

It's a real issue. 

All said, we believe that the market is doing fairly well. And, here is why...

The Fed raised interest rates so quickly that many marginal people decided to just stay put where they are because their home has a super-attractive rate. If there is no need to move, folks don't. But, the Californians, Texans, Phoenix transplants and other out-of-towners are still coming. That has semi-gutted the market for inventory so when a new place comes on the market, it may not be around for long.

Our markets have folks migrating in - not just moving from one place in town to the next. 

Our encouragement is to be diligent in your prep. Get pre-approved on your lending. Have a contingency plan for moving. Give yourself some options. Montrose, Ridgway, Gunnison, Crested Butte, Delta... all of these towns are still growing like weeds.

If you need help, give us a shout. We know folks in all different kinds of industries that can help you get your game on and are happy to introduce you to them. If you want to sit down and talk about a plan on selling or buying your home, we would be happy to have that conversation as well.

Hit us up at love@blackcanyonhomes.com 

After all, there is no need to be scared. The news media a bunch of hooey anyway.

- The BCH Team