Wednesday, July 21, 2010

Our association meeting was pretty informative this morning. Year over year, residential sales are up in La Plata County 39% from 2009. Of course, most of that volume happened prior to the end of the tax credit. July and August appear to be relatively flat, similar to last year. Still, 50-year lows on interest rates are very attractive as a one-point (%) reduction in interest rates translates to approximately a 10% price reduction. Our Board President rightly pointed out that in 10 years we'll be bragging about the interest rate we got rather than the price we paid on the house. True that! Great day folks!

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