They came; they saw; and they conquered. Or, rather, they sold.
The Durango Area Association of Realtors, which documents sales transactions in Montezumea, San Juan, Archuleta and La Plata counties, has 280 members. And while most have sold numerous properties throughout the years, only a small percentage have reached the top of the market.
In 2014, a handful of Durango’s real estate brokers surpassed their colleagues in regional transactions, according to DAAR statistics. Here’s a look at some of the top performers last year and how they got there.
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Most residential sales
Don Ricedorff, broker-associate with the Wells Group of Durango, sold 91 sides, or sales representing either buyers or sellers.
Ricedorff, who has worked with Wells Group for 22 years, attributes his success to developing lasting relationships in the area.
“To be successful, you need to be present,” he said. “Be available; be mindful; be helpful, and care about the friends and clients that we represent.”
Justin Osborn, broker-associate also with the Wells Group, took second place with 73 sides.
Joe Burtoni, of Durango Land and Homes; Joe Clair, broker-associate with Keller Williams; and Max Hutcheson, broker-associate with the Wells group, also were among the top five in residential sales volume.
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Highest-priced home sale
Tom Morse, owner-broker with Legacy Properties West Sotheby’s International Realty, listed the home at 1361 Celadon Drive in Durango for $3,850,000. The buyer was represented by Joe Bob McGuire and Abbi Munn, broker-associate with the Wells Group, and sold for $3,350,000.
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Most million-dollar home sales
Tom Morse with nine sides.
Morse and his colleagues aim for the higher-end priced homes on the market. For the past three years, Legacy Property’s has sold the most million-dollar homes. Morse has built his reputation on provided good service and word-of-mouth, he said.
Last year, he said, he noticed an increase in the demand for high-end homes. This year, Morse and his son have sold three million-dollar properties and have a few under contract, he said.
While moderately priced homes have done well in the market, inventory is significantly down, he said, but there is still significant inventory available for high-end homes.
“We are very fortunate; we have a lot of very wonderful properties and great clients, Morse said. “The market has been very good to us and we, in turn, try to be very good at what we do.”
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Most commercial property sales
John Wells, broker-owner with the Wells Group, with seven sides. Scott Kurlander, broker associate with Keller Williams Realty Southwest Associates, took a close second with six sides.
In 2014, real estate brokerages sold $15 million worth of commercial property, which is only a small percentage of the total market, Wells said.
“There is a demand for commercial property because the economy has been improving,” he said.
And with the population growing every year, there is a greater need for commercial retail and industrial space.
He said there hasn’t been much commercial construction since the Great Recession in 2007 and many of the existing properties are already occupied.
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Most sales of vacant land
Justin Osborn with 39 sides.
Osborn said he’s seen a huge demand, both from builders and members of the public, for land for the purpose of building homes.
As housing prices continue to go up in value, potential homeowners don’t want to pay a lot of money for a home they didn’t design when they can pay the same amount and design their own, he said.
Over the past few years, he noticed that construction will commence within six months of a deal closing. He estimates that 70 percent of those sales are purchased as home sites while the other 30 percent are purchased as a recreational investment such as for fishing hiking and hunting.
Osborn also has become the “land guy” because other brokers tend to stay away from land transactions because they yield smaller revenues than home sales.
Osborn’s father was a builder and he understand the logistics behind purchasing land to build your own home. He also considers himself an outdoors man and can provide expertise on what properties will ensure the best recreational experience for his client.
Agency with the most transactions
The Wells Group sold 800 properties, followed by Coldwell Banker with 558.5 sides.
Wells said the secret to the success of the Wells Group, which will be celebrating 30 years in business, is due to the service, expertise and advice the company provides to clients. The other area brokerages, he noted, have also experienced a great deal of success.
“All of our companies are great competitors,” he said. “We are all very good and supportive of each other.”
As far as the real estate market goes, gurus are expecting residential, vacant land and commercial properties all to increase in value.
“We are seeing a very strong real estate market fueled by low interest rates and a recovering economy, Ricedorff said.
