The old adage in selling real estate was always, "Location, location, location". While that still holds true to a large extent, there are other factors just as crucial, not least of which is - Price.
Homes that were $550K two years ago when they should have been $500K, now marked down to $400K, when they should be $350K. Always a day late and a dollar short, as the expression goes. You have to price into a falling market, not reflexively reducing to imitate local sales after they have closed. In the above example, had the seller started at a realistic $450-$475K two years ago, it would have sold. Now the selling price will likely be $100K less than that.
This is not always the sellers fault. Sometimes having lack of experience or a greedy agent can cause home prices to chase the market down. Someone who has not worked through tough times may not have developed the skills needed to persuade a seller to lower their price. Or indeed, may not have developed the confidence to walk away from, or decline in the first place, an over-priced property. Learn more on how to price here.
If you are thinking of selling your home, you can be sure you will have an experienced, knowledgeable and dedicated agent working on your side. I know this market well and know which areas are selling for what price.
Some homes have been on the market so long that the sellers are now upside-down, and owe more than it is worth. Often, this is as a result of re-financing to release equity. In retrospect, not a good idea, at all. These "short sale" homes are often priced temptingly low, in order to hook a buyer with which to begin the process. For a serious buyer, this can be a frustrating experience. Be wary of the short sale that is under-priced, it may disappoint you. Given the choice, I would go for the bank-owned, or real live actual motivated seller, if I were able.
Contact me now for how to price your specific Montezuma and Dolores County real estate.