Mesa County Real Estate Trends For Last 20 Years

Let me just start by saying....be prepared to be surprised. The following graphs show how many homes have sold each year in the last 20 years. It is definitely an eye opener. That being said I think we need to learn from our history. If I had a penny for every time one of my parents said.."I should have bought that home on the corner back in '85. It was a HUD home priced for $75,000 and it just sold for $250,000 last month" or "Back in '85 that home was going for $65,000 and my payment would have been around $500 a month. I never really liked it much for me, but he is getting $1300 a month for rent on that thing, now." As we watch these homes come on the market and the asking prices dropping, this is a great time to invest in our future. Just remember to make sure it will cash flow (pay for itself) today. Graphs were provided by Heritage Title Company.

What the New Oil and Gas Rules Mean for Us

Well nobody knows for sure how these rules are going to effect us in Western Colorado. I think the national economy will play a part in our future, as well. The oil and gas companies are cutting back, but not pulling out at this time. Homes are still projected to appreciate, just not as fast as we have been used to. So basically things are looking to slow down for a little while, but this isn't necessarily a bad thing.

Long-term numbers tell a different story

Second-largest gas producer to run half as many rigs locally

Rent expected to plateau as vacancy rate eases slightly

Does Anyone Know Where I can Find a Rental?

The vacancy rate was at 1.6% for the second quarter according to a survey released Thursday by the Colorado Division of Housing. Grand Junction came in at the lowest vacancy rate out of 1,600 rental districts in the State. It is especially hard to find short term rentals. Currently, A 2 bedroom and 1 bath duplex with 800 square feet in somewhat bad repair, is renting for around $950 in the Redlands Area. By comparison, a newer 3 bedroom and 2 bath home with 1200 square feet in good repair is renting for around $1350 in the Southeast area.

As I look at this and the prices of real estate, right now. I can't help but think that if you are renting this is a great time to look into buying a home. For example, right now, you can buy a newer 3 bedroom 2 bath home in the Southeast area and your monthly mortgage payment would be the same as your rent. There is a lot of inventory out there and it is considered a buyer's market.

I know, I know, I can hear you saying, but I don't have good credit. Most people think there credit is worse than it actually is. There are many lending options available even to the people who don't have stellar credit. It is free to talk to a lender and you many be surprised at what you can afford. Stop throwing your money away on rent! On average, nationwide, real estate has appreciated 6% annually over the last 40 years. Home ownership is a proven, great long term investment!

Looking for a place to rent? Good Luck? - Daily Sentinel Article