The first place to start is with the selection of a qualified, experienced full-time Pagosa Springs real estate professional. You would be wise to choose a broker that has worked during more than the recent up-cycle of real estate. You will be better served by choosing to work with a broker that gained valuable experience during the real estate downturn of the 1980′s. The current market has many similarities to the challenging market of the 1980′s. You do not want a broker to gain an education in this market at your expense.
First, your broker should provide you with a solid background on the current Pagosa Springs market conditions. That would include an overview of the inventory in each real estate category, how that compares to the long range averages, what the price trends have been are how the trends have changed over the last 24 months.
Your broker should also give you information on Pagosa Springs foreclosure properties so that you can identify any favorable opportunities within bank-owned real estate inventories. You will also want to know the average discount to asking price for properties and the average number of days on market. You need to compare all these figures to the long range averages in order to gain useful market baseline information. If the broker you are working with cannot help you obtain this valuable information, find another Pagosa Springs broker-right away.