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Last updated on May 6, 2010
The Pagosa Springs area Foreclosure market is yielding anywhere from 25 homes at a time that have been Foreclosed on and are back on the market for those seeking investment in the Repossessed or Foreclosed home market. The average days on market are approximately 130. Typically a bank owned home will receive a price reduction about every 30 to 45 days. Many times this reduction will be met with multiple offers by investors and savvy buyer's who are watching the market carefully.
We are seeing small investors begin to permeate the market and pick up some of these great deals to remodel and put back into the active real estate market.
Additionally, there remain approximately 140 to 160 homes that are in Pre Foreclosure in Archuleta county. Most of these will find there way back into the re-sale market in about 6 months.