Market is Soft But Our Blessings are Plentiful

The rains in the past week have reminded me of the splendor of the Rocky Mountains during the summer, and they also provided some welcome relief from the warmer than usual temperatures. On that note, we are fortunate to live in one of the most wonderful and beautiful places on earth. The geographic diversity from Canyonlands to the high peaks provide us awesome choices, and there are few towns that offer all of the variety for outside activities and cultural events.

A couple of weeks ago I was in Haiti. One of the questions in life is: “Why are some given so much and others are given so little?” The devastation from the earthquake was as severe a catastrophe as can be imagined, but it was also apparent how difficult the living conditions were in Haiti before the earthquake. The things we take for granted, a small area of privacy, electrical service 24 hours a day, food, water, shelter and health care are not available for many in Port Au Prince, and were not widely available before the earthquake. I don’t have the answer on “why them and not us,” but it is a reminder of the daily blessings we receive.

Marketing Update:

The Wells Group Real Estate Listing Guide is at the printer, and it will be delivered to the public on August 1, 2010. All of the Wells Group active listings are presented in this guide, and it is distributed through a number of channels, but in particular, it is delivered via the Sunday Durango Herald. Sunday is the highest circulation day, and includes subscribers outside of the area. It is also on-line as a resource, and available 24 hours a day, 7 days a week.

Interest Rates:

Interest rates remain at historic low rates. In my lifetime, over 50 years, rates have never been better. Savvy buyers understand the benefit of these low rates, which allow them 10% greater purchase power for every 1% change in the rate. As consumer and economic confidence gains, we should see increased demand.

Market Summary:

Closings for July 2010 through July 22, 2010, as compared to closings for the last two years for July, and the number of active properties on the market:

Durango Residential in Town : For 2010 there were 9 closings in July through 7/22/10 as compared to 17 in July, 2009 and 37 in July, 2008. As of 7/22/10 there were 393 active listings

Durango Residential Rural: For 2010 there were 10 closings in July through 7/22/10 as compared to 18 in July, 2009 and 20 in July, 2008. As of 7/22/10 there were 629 active listings.

Bayfield Residential in Town: For 2010 there were 4 closings in July through 7/22/10 as compared to 6 in July, 2009 and 6 in July, 2008. As of 7/22/10 there were 62 active listings.

Bayfield Residential Rural: For 2010 there was 1 closing in July through 7/22/10 as compared to 8 in July, 2009 and 5 in July, 2008. As of 7/22/10 there were 172 active listings.

Land, La Plata County: For 2010 there were 3 closings in July through 7/22/10 as compared to 4 in July, 2009 and 9 in July, 2008. As of 7/22/10 there were 981 active listings.

All Real Estate, La Plata County: For 2010 there were 30 closing in July through 7/22/10 as compared to 65 in July, 2009 and 91 in July, 2008. As of 7/22/10 there were 2786 active listings.

You can contact me, Don Ricedorff, at The Wells Group, 901 Main, Durango, Colorado, 970-375-7014 or via email at don@durangorealproperty.com

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 16 years of experience, and he resides in Durango Colorado.He has numerous real estate designations, which have provided him with an unparalleled education to assist his clients.


The designations include:

CRS, Certified Residential Specialist
CRB, Certified Residential Broker
CCIM, Certified Commercial Investment Member
CDPE, Certified Distressed Property Expert
ABR, Accredited Buyer Representation
GRI, Graduate of Realtor Institute
RSPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist


He is also an active volunteer in the community and his church. His highest aspiration is spending time with his wife, Janet, and his three children Kelly, Katie, and Kyle. His other interests include playing tennis, fly fishing, hiking, boating, and water skiing.