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November 2017 – Montrose Colorado Real Estate Market Update

November 2017 – Montrose Colorado Real Estate Market Update

Bidding Wars Make Their Way to the Western Slope

2445 Shavano Cir. Montrose, CO 81401 - Atha Team Real Estate Golf Property for Sale2017 has been quite the year for real estate in Montrose Colorado. Bidding wars finally made their way to the Western Slope from the Colorado Front Range; the Atha Team experienced an abundance of bidding wars on homes that were listed by Sellers working with the Atha Team as well as buyers on the purchasing side. The bulk of this auction type activity occurred bellow the $200,000 price range. The Montrose market has shifted indeed, to a hyper sellers market under $250,000. With that said, homes that are overpriced are still over looked by distinguishing buyers.

A few people have recently asked, “Will this type of market activity continue?” Others have asked, “Are we in a real estate bubble like 2007?” The market activity, when speaking of price increases, may continue. The sustained equity gains in the market depend on inflation and wage growth eventually matching housing costs. Currently, housing costs are outpacing wage growth and inflation of other goods such as food and automobiles due to lack of housing supply. If new housing construction starts continue to lag behind consumer demand, and prices continue to escalate, affordability may act as a ceiling to the impressive gains experienced over the last 5 years.

Aerial View 18858 6495 Rd Montrose Colorado 81403 - Atha Team House For SaleReal estate bubbles, as with any asset bubble, are typically fueled by speculation. In essence, the difference between 2007 and 2017 is purchase motivation. Today’s consumers are purely attempting to move, up-size, or downsize to meet household needs, rather than acquire a balloon loan, speculate future gains, and attempt to re-sell in 2 years for a quick buck. The credit products that fueled the previous bubble’s hype are just not available today; ask any millennial with student debt or a Gen Xer with bad credit. Supply (lack-there-of,) and demand (consumer necessity) are the driving principles behind this vigorous real estate market, not credit-fueled speculation and enthusiasm.

 

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Thinking about Buying or Selling? Call or Text: 970-417-9375

 

Copyright 2017 Keller Williams Colorado West Realty, LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation. Equal opportunity housing provider. Each office is independently owned and operated. For sale by owner data not included in research findings. Sales data reflects sales from homes not limited to the Atha Team LLC. This information was gathered from Keller Williams, The National Association of Realtor, CoreLogic data analysis firm, Montrose Association of Realtors, and the Mortgage Brokers Association. This data is considered accurate, but is not guaranteed. Copyright Atha Team LLC 2017. All Rights Reserved.

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Diana Atha

Diana Atha is a seasoned agent in the Montrose, Colorado real estate industry. She has served within the Montrose professional market since 2006 and is part of Keller Williams Colorado West Realty. Diana has extensive experience as a real estate agent and is naturally gifted in customer service. She has passed on this knowledge and mentored rising stars in the Atha Team. Diana and her team have achieved many awards serving as buyer's and seller's agents in Montrose, Ridgway and Ouray. “Top Residential Sales Team” in 2017 “Top Residential Sales Team” in 2016 “Top Listings” and “Top Producer” in 2016 “Top Residential Sales Team” in 2015 “Realtor of the Year” in 2013 Recognition for ranking 3rd in real estate sales volume in 2013 Diana has served as a volunteer in many different aspects of the community throughout her over 25 years of Montrose residency. Growing up, Diana was modeled in the discipline of servant leadership. Her father, Rick Weaver of Del-Mont Consultants and Samaritans Aviation, included Diana in many community projects serving the needy. As Diana grew older, she traveled to Kenya, Papua New Guinea, Australia, New Zealand, Hungry, Romania, and Japan to help serve others in a Christian Humanitarian context. Diana now volunteers her time at the Magic Circle Theatre, Grace Community Church, Rotary International – Montrose CO, and served on the Board of Directors for the Montrose Association of Realtors. Diana is married to Ian Atha the Listing Specialist for the Atha Team and happily resides in Montrose Colorado.

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