Durango Colorado Real Estate

Guarded Optimism and Slow Growth

2012-01-06T09:30:00.000-08:00

This past Wednesday Don attended the Southwest Business Forum at Fort Lewis College. This annual forum consists of experts in business and economics presenting their views on the current state of local, state, national, and international economies and their predictions for the future.

The overall feeling was one of guarded optimism with an anticipation of slow growth. This is in line with our earlier contact about the slow restoration of consumer confidence and it's relation to our local (and national) real estate market.

The information below, taken from the CREN MLS, shows an increase in overall residential sales in 2011.

Out of the woods? Perhaps not. But things are looking a bit brighter.

Consumer Confidence Shoots Higher Again

2011-12-27T10:08:00.000-08:00

I continue to believe that consumer confidence is slowly being restored and that the real estate market will normalize when the American consumer feels good about the economy. We are seeing positive signs, including the Consumer Confidence Index, and are hopeful that the upcoming Spring market in the Durango, Colorado area may show a correlation to this increasing confidence level.

Consumer confidence shoots higher again

By Chris Isidore

NEW YORK (CNNMoney) -- Consumer confidence shot higher for the second month in a row in December, according to a survey from The Conference Board.

The research firm's overall confidence index, released Tuesday, jumped 9.3 points to 64.5. The increase follows a 14.3-point rise in November.

"After two months of considerable gains, the index is now back to levels seen last spring," said Lynn Franco, director of the group's research center. "Consumers are more optimistic that business conditions, employment prospects and their financial situations will continue to get better."

Still, Franco cautioned that it's too soon to tell if the year-end optimism is simply a rebound from declines earlier this year or a sustainable shift in attitudes.

The jump of almost 24 points since October is the biggest two-month increase since March 1991, when consumer confidence got a shot in the arm from the quick U.S. victory in the first Gulf War. But the recent increases follow sharp declines that occurred from July through October as both economists and the general public became worried that the U.S. was at risk of falling into a new recession.

"When we get to our low point in October, that was probably overdoing it," said Tim Quinlan, economist with Wells Fargo Securities, who said that reading was below the levels of the 2001 and 1990 recessions. "I don't think things were that bad then. I don't know that things are that great now, but it does signal that consumers were feeling better going into the holidays, which is a key time for retailers."

Helping to lift confidence is the fact that since mid October stocks have rallied, gas prices have fallen and the labor market improved with both better hiring and a decrease in the number of layoffs.

While the survey found that only 6.7% of consumers believe jobs are now plentiful, that's nearly double the 3.6% who felt that way in October. Those who believe the job picture will be better six months from now rose to 13.3% from 10.8%.

Most importantly for consumer spending, those who expect their own income to increase in the next six months rose to 17.1%, outpacing the 14.4% who expect their income to fall. This is the first time since April that the percentage of people who expect their income to improve topped those who expect it to drop.

Avoiding Christmas Tragedy: Fire Safety Check

2011-12-16T12:33:00.000-08:00

There are so many fun and festive things about the holiday season. But, it is also a time to practice safety, especially with respect to avoiding holiday fires. I'm reprinting the following article about fire safety checks from the Southwest Home Inspection:

Avoiding Christmas Tragedy: Fire Safety Check

Each year, we hear of home fires occurring during the holiday season. Sometimes lives are lost. Sometimes an entire home is lost to flames, and visions of little ones whose presents are gone can generate a longing to help. Holiday fires are not inevitable; use this advice to keep them from happening.

* Have a working smoke detector just outside the kitchen, near bedrooms, and on every level of your home.

* Place a chemical fire extinguisher near the kitchen range and make sure everyone knows how to operate it.

* Degrease the top of the stove, the oven, broiler, and range hood. Grease can ignite and cause a fire.

* When preparing a big dinner, make sure only one high-wattage appliance is plugged into an outlet or circuit. If you have a microwave, coffee pot, electric fry pan, and toaster running at the same time, you could be in danger.

* If it is very cold and you decide to use an electric heater, be sure it is not positioned near anything flammable including curtains and decorations. Unplug when you go to bed.

* Don't overload circuits with lighted decorations. Plug decorations into a power strip that will shut off if overloaded and has surge protector.

* When opening gifts, handle wrappings with care. Never allow combustible wrappings to pile up near a heat source. Make sure no one is smoking near such flammables.

* Be smart with candles. Put them out when you will not be nearby. Don't place a candle inside a bookshelf.

News Stories to Keep an Eye On

2011-12-02T12:09:00.000-08:00

I can’t believe that Thanksgiving has come and gone and the Christmas holidays are fast approaching. We know you are looking ahead to the new year, as are we, even as we all hopefully enjoy the season with our family and friends. It is important to me to keep an eye on the national stories since they could have a big impact on home loan rates in the year to come. The ups and downs in the daily news stories can be confusing, but here are a few that I follow as Real Estate professional:

1. There is an interesting relationship between the U.S. housing market and the European financial crisis. Even though the news in Greece and Italy is troubling from a global financial perspective, the pessimistic news out of Europe could continue to benefit home loan rates in the U.S., as investors see U. S. Bonds (including Mortgage Bonds) as a safe haven.

2. Of course, home sales and the continued recovery of the U.S. real estate market is reliant on many factors, such as a strong stock market and lower unemployment rates. We saw U.S. stocks rally big on Wednesday following news from the Federal Reserve that it would work with other central banks to support the global economy. Then yesterday was mixed as investor concerns still apparently linger regarding the European crisis.

3. Another story brewing is whether we have another government "bailout" in the making with FHA. FHA has been a mainstay in the real estate financing world during these difficult times as it insures nearly 40% of new home mortgages in the U.S. A recent report by an independent auditor indicates that the FHA has just $2.6 in reserves, down from $4.7 billion last year. This financial situation is apparently being looked at seriously by Federal officials

I believe that the most important thing to keep in mind is that no matter what the national news, NOW continues to be a perfect time to purchase property in Durango, Colorado and take advantage of the historically low rates and great inventory!

If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 18+ 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.

FHA in Trouble?

2011-11-30T10:08:00.000-08:00

I'm reproducing below an article from Real Trends Update, a publication for Realtors. This article highlights some concerns recently circulated about the viability of FHA and whether we have another government "bailout" in the making, as we saw with Fannie Mae and Freddic Mac in 2008. This is certainly not good news in real estate as FHA has been a mainstay in the financing world during these difficult times.

November 29, 2011

The Week in Review

By Steve Murray

FHA Following in Fannie and Freddie Footsteps?

Recent back and forth between outsiders and insiders sounds suspiciously like the summer of 2008 all over again. FHA says it is sound and doing its job and is being far more careful than it used to and certainly more careful than Freddie and Fannie were. Outsiders say that with over $1 trillion dollars in insured mortgages, many with less than 5 percent down and less than 0.5 percent reserves, that without “implied” government backstop, this is another bailout in the making.

Lets face it – without FHA financing housing would really be hurting. They now insure around one third of all mortgages. And that share appears to still be growing. And FHA officials stress that all of their portfolio measurements point to a far healthy, more qualified buyer than in the past. Still who really trusts anyone with less than one half of one percent of reserves insuring $1 trillion dollars of mortgages with prices still slipping?

Housing is starting to heal in many markets and with unemployment heading slowly downwards prospects for the next year are better as well. Any softening in the economy now and FHA mortgages could take another hit….one it clearly cannot afford.

Happy Thanksgiving

2011-11-23T09:44:00.001-08:00

Design Highlight: Vertical Light

2011-11-03T20:19:00.000-07:00

When light is installed nearly blush against a vertical surface, walls come to life much like a 3D movie; this design highlight is referred to as wallwahing. Consider the effect light has when used as an accessory rather than a simple necessity. The below images capture wallwashing in residential spaces.

//Smooth glass blocks take on new angles and shadows.

//Wood becomes exotic in color.

//Textured walls become visually tactile.

Perfect Season

2011-11-02T10:36:00.000-07:00

Have you noticed the beautiful fall days, with a hint of chill in the air in the morning, and warming to a comfortable temperature during the day? How about the deep blue skies and the clear rivers and streams? Even as the fall colors are beginning to dwindle, I marvel at what a perfect season fall is in Durango, Colorado.

It is also the perfect season for real estate. What makes a perfect season for real estate? The market must have adequate choices; just a few years ago, there was a low inventory, and few choices for buyers. Today, the number of homes available is great, and buyers have significant choices. Second, this is a great time for negotiation, as there is competition in many neighborhoods, and we are still in the fall selling season prior to winter. Third, if you have solid credit, an adequate down payment, and most important, a good credit score, money is available, and interest rates are low. The low cost of money, many great choices, and a strong negotiation position makes this the perfect season to buy!!

Last, this is the perfect season in our life! We are fortunate to live in a great country, with all of our freedoms, and to wake up each day to a bright and wonderful future. We need to be thankful for those serving in the armed forces that protect our freedoms, and be thankful for those in leadership of our nation, state, country, and city for their commitment to give of themselves to better our opportunities. Most importantly for those of us that call Durango home, we live in the best place in the country, and there are people all over this nation that wish they could be here.

This is truly a blessed season. Enjoy and make the most of it, and don't forget to vote.

Don

If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 18+ 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.

Fall in Durango

2011-10-27T14:37:00.000-07:00

The Fall real estate market in Durango has been somewhat slow, although we continue to see signs of recovery in real estate and have optimism for the future. As always, we count our blessings that we live and work in Durango, Colorado, which continues to shine even in these difficult times. Here is a little description of our fair town from the DowntownDurango.org website:

"Marketing professionals have long sought a clever phrase incorporating terms shared by guests – charming, vibrant, “fun.” The resonating word, however, which perhaps most aptly describes Durango’s appeal is “real.” Durango is a “real” town. Simply stroll down Main Ave. or relax in a coffee house or local brewpub and you’ll feel the energy. Though Durango has all the beauty and activities of mountain resort towns across the West, this is a place where people truly do live – and love it."

Upcoming Downtown Durango Events:

This weekend: Seuss on the Loose Exhibit; Rocky Horror Show

Nov. 18 - Dec. 28: Polar Express

Nov. 18 - Dec. 29: Winter Solstice Artisan's exhibit

Nov. 25 - Jan. 1: HoliDazzle

Dec. 2 -3: Holiday Arts Show

Dec. 2 -4 and Dec. 9 -11; Festival of Trees

Dec. 2 -18 Hark the Neville Angel Sings

Dec. 3, 10, 17 The Eight Reindeer Monologues

Dec. 9 - 11 Nutcracker Ballet

Dec. 19 Big Bad Voodoo Daddy's Holiday Party

Durango Colorado Real Estate Statistics - Thru Sept. 2011

2011-10-13T10:34:00.000-07:00

Hello Friends,

Below is the preliminary information for real estate sales in the La Plata County, Durango Colorado real estate market.

As an overview, the La Plata County residential real estate market has continued to recover from the bottom of the market, which was September 2009. The residential real estate sales for the nine months thru 2011 totaled 527 transactions with a median price of $308,000 compared to the same period in 2009, which was 386 transactions and a median price of $292,500. As compared to the same period last year, the La Plata County residential transactions were up 10.2%, with the median price up .7%, the Durango In Town residential transactions were up 9.3%, with a .4% increase in the median price, and total Bayfield residential transactions were up 27.9%, but the median price fell 5.9%. The number of land sales improved 45.2% over last year, with a 21.7% increase in median price, and the commercial transactions increased 45.4%, with a median price increase of 20.4%.

Although this is encouraging news on the market, the number of transactions is still approximately 1/2 of the the number of sales in the top of the market, which was 2005, and still lower than the numbers for 2008 (same 9 months). Prices continue to be challenged in the market place due to the excessive inventory of properties for sale, and by distressed properties that are offered below market value.

CRS, Certified Residential Specialist

CRB, Certified Residential Broker

CCIM, Certified Commercial Investment Member

CDPE, Certified Distressed Property Expert

ABR, Accredited Buyer RepresentationGRI, 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 tennis, fly fishing, hiking, boating, and water skiing.

You can reach Don:

Don Ricedorff

don@frontier.net

970-375-7014

Living In Durango. Marketing To The World.

2011-10-07T09:57:00.000-07:00

One of the more challenging aspects of marketing real estate is finding a balance in the different mediums. How much print advertising is enough? Are we reaching the correct audience with the internet marketing?

Our approach to each property we promote is to coordinate all of the marketing we will publish at the very beginning. Each property has its own unique qualities and the marketing we create for each property is as unique. The design created for each property runs through all print and digital media.

Our print advertising begins with the printing of full color, multi-page brochures. We also reserve a space in The Durango Herald for a print advertisement and a real estate exchange cover position. Properties also appear in The Wells Group’s Listing Guide – a full color magazine featuring all Wells Group properties.

In addition to our print advertising with the Herald, we dedicate space for a web ad for the properties that we represent. The properties are shown for 1 week on a rotating basis and appear on the local and regional news pages.

On average, our advertising on www.DurangoHerald.com receives 9974 impressions. Out of those impressions, our ad receives 38 click throughs. This means that 38 people were directed to our website, www.DurangoRealProperty.com, for the information specific to the property featured in that week’s ad.

Additionally, each property is featured on our personal website, the Wells Group’s website www.wellsgroupdurango.com, and sites such as Trulia.com, Zillow.com and more.

As comprehensive as we feel our marketing is, we know that it is only a means to an end. The real results are seen once we are in contact with the prospective buyers and can put our expertise and customer service to work.

If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 18+ 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.

Location, Location, Location!

2011-09-15T13:45:00.000-07:00

Owning real estate is all about location, location, location. And although times have been tough, one of things we can boast is the tremendous continuing appeal of Durango, Colorado. Towards the bottom of this message I've reproduced an article from the Durango Herald reporting yet another "top" award given to Durango. I must confess that I'd never heard of a "micropolitan" area, but, according to the below article, it is an area of less than 50,000 in population and Durango ranked no. 1 out of 576 of such areas. The award is for consistency in both size and quality of economic growth. So, a great big "shout out" for Durango, and while I'm at it, below you'll also see a partial list of other awards Durango has won over the years.

Durango Area Awards:

2011 "Best Town," Outside Magazine

2011 "Top 'Micropolitan' area in US," Policom

2011 "One of Coolest Towns in America," Men's Journal

2011 "Top Ten Western Towns," True West Magazine

2011 "Green Power Community," Environmental Protection Agency

2010 "Top Small Town for Meetings & Events," Meetings & Events

2010 "Governor's Award"

2010 "Top Ten Ski Resorts to Down a Local Beer," Away.com

2010 "The Top 20 Ski Resorts in America," Aroundme.com

2010 "Town to Watch," True West Magazine

2009 "Top 10 Places to Raise an Outdoor Child," Backpacker Magazine, CBS News

2009 "Best Places to Live in Rural America," Progressive Farmer

2009 "Top Ten Train Rides," Society of American Travel Writers

2009 "The West's 20 Best Small Towns," Sunset Magazine

2009 "Top 20 Romantic Getaways," Sunset Magazine

2009 "American's 200 best Hunting and Fishing Towns," Outdoor Life

2008 "Top Ten Western Towns," True West Magazine

2008 "7 Great Mountains to Ski with Your Kids," Ski Magazine

2008 "Governor's Award for Historic Preservation," Colorado Historical Society

2008 "Silver Level Bicycle Friendly Community," The League of American Bicyclists

2008 "Colorful Colorado Award," Governor's Award for Downtown Excellence

2008 "Top 10 Christmas Towns," HGTV

2008 "Top 20 Resorts," Conde Nast Traveler

2007 "American's Dozen Distinctive Destinations," National Trust for Historic Preservation

2007 "next Best Places to Ski, Live, Invest and Retire," Ski Magazine

Durango named top ‘micropolitan’ area in U.S.

By Jordyn Dahl
Herald Staff Writer

It’s about quality, not quantity, is the takeaway message of an economic study that named our community the top “micropolitan” area in the United States. A micropolitan area is defined as one with a population of less than 50,000 people. Policom, an independent economic research firm specializing in local and state economies, did an analysis that ranked Durango No. 1 out of 576 micropolitan areas studied. Data used for the study included not just Durango, but all of La Plata County. “It’s outstanding that La Plata County is ranked so high,” said Joanne Spina, interim county manager. “We’ve been in the top 10 for the past four years and (the ranking) speaks to the diversity of our economic base.” Durango debuted in the top 10 in 2008 at No. 8. The city has continued to climb, reaching No. 3 last year. “It’s not unusual for Durango to go to the top,” said William Fruth, president of Policom. “Over an extended period of time, it’s shown a tendency of having consistent economic growth in size and quality.” The study looked at 23 different economic factors, including wages and earnings. The amount of public assistance going into each community also was factored in. Durango scored low in this sector, which reflects a strong economy, Fruth said. The Durango area has the second lowest per capita amount of Medicaid dollars coming in of any micropolitan area and one of the lowest per capita amounts of welfare dollars. Durango also scored well in earnings and wages, despite the city’s reputation of requiring people to have two or more jobs to make ends meet. In 2009, Durango’s average wage was 76 percent of the national wage. “Durango has improved relative to the national average wage every year for 10 years,” Fruth said. “It’s a sign that the quality of the economy has been improving.”

What industries pushed Durango to the top? The No. 1 primary industry in the Durango area is “mining,” or the extraction of natural gas. It accounts for 33 percent of the economy, with state government close behind. Farming accounts for about 10 percent, according to Fruth. Despite the decline in natural-gas prices, Durango Chamber of Commerce Executive Director Jack Llewellyn thinks gas will continue to stimulate the economy, and BP, the county’s largest producer, will remain for the long haul. “BP will continue drilling in La Plata County as San Juan produces the most natural gas with the least amount of wells,” he said. “BP took rigs to Pennsylvania, but they are still using rigs to clean up wells here.” Another Colorado city, Edwards, fell from first to ninth for micropolitan areas and is the only other city in the state to make the top 10.

The study measures economic factors over a 20-year period. This year’s study took data from 1990 to 2009 – the most recent data released. Data analyzed was from the Bureau of Economic Analysis and the U.S. Department of Commerce.

Policom first ranked micropolitan areas in 2002.

jdahl@durangoherald.com

When to Use Zillow.com?

2011-08-31T09:50:00.000-07:00

You may have heard of Zillow.com, a leading online real estate data bank. Many folks tell us that they are following Zillow.com with respect to how it currently values their home or property. Certainly, Zillow.com can offer a starting point to determine a general value for a property you are considering buying or in determining a general value for a property you are considering selling or refinancing. As a matter of fact, our office advertises on Zillow.com because it reaches so many households.

However, in our opinion, Zillow.com cannot take the place of hiring a professional appraiser or connecting with a real estate professional to receive a Comparative Market Analysis (CMA) if you are thinking of buying or selling real estate. Even Zillow.com freely admits that: It has never done an on-site inspection of property; never seen how property finishes, landscaping or location compares with other properties in the same market; and that their data source may be inaccurate due to incomplete information. As an example, we have a property that in one Zillow report came up as valued at $215,700 and in another report similar in timeframe for the same property came up as valued at $1,272,200. That's a rather remarkable discrepancy!!! By the way, my opinion of the value of that property is $1, 499,000.

Here is an analysis for your consideration: Is it helpful to go on-line for medical information and even possible advice given a particular set of medical symptoms? Perhaps yes. We probably all have done that. However, would you rely on that on-line opinion in lieu of seeking professional medical advice for a serious medical condition? Most likely the answer is No.

Zillow.com offers an impersonal, computer-generated estimate of values. It is here to stay and serves a function in today's busy world. But, we caution you to use this service with common sense. A real estate investment may well be one of the most valuable assets you purchase or sell. Whether you are thinking of buying, selling or refinancing, make sure you take the time to get a serious and well based opinion of value from a reputable real estate professional or appraiser in your market.

If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

Back to School

2011-08-22T22:36:00.000-07:00

School is back in session and more than likely it’s time to dust off the ol’ bill pay and make room for pencils, notebooks, and the constant stream of homework piles. Use my helpful tips to reign in those piles to maintain aesthetic peacefulness and productivity in your home.

--Define your workspace: Make ample room to work; fill cups, baskets, and trays with all your supplies to keep this area clear. Designate these spaces as a “home base” for each individual supply rather than catchall buckets.

--Paper piles: Collate, clip, and clear…get the jagged edges out of sight by using file folders and vertical trays. Anything you can use to work upward creates more horizontal workspace. Shelves and bulletin boards prove to be not only utilitarian but visually interesting as well.

--Storage: Nothing is simpler than a large under counter drawer for those unsightly items you want to hide in a hurry. Consider getting a unit on casters for each kid in effort to designate storage space but easily move for using a shared workspace.

Is It Time To Invest In Real Estate?

2011-08-18T11:36:00.000-07:00

You may be having a difficult time determining where to invest in the markets. The Dow Jones average has lost 8.22% in the last month, and it has a yield of 2.89% annualized over the last 5 years, and 3.6% annualized over the last 10 years. The 2 year U.S. Treasury bonds have a yield of .26%. Gold values have escalated with worries over the economy and the potential for long term inflation. Is there a better answer?

You may want to consider a real estate investment. The downturn in the real estate market over the last six years offers some interesting opportunities. More people are choosing to rent, values of properties have come down, and mortgage interest rates are at a 100 year low.

Rental housing in the U.S. serves a population of 39 million households, and among those under 25 years old, 78% are renters. The occupancy rate for apartments is 94.3% nationally, which is up approximately 3% in the last two years. Locally, we have had strong demand in the rental market, and recently, landlords have expressed their surprise on the number of calls from Craigslist and other advertising for available housing.

What kind of return can you expect from a residential or commercial investment? The net return on a cash investment in residential real estate is often 4-6% annually, and the returns for commercial real estate range from 6-8% annually in this area. Real estate investors often benefit from the use of leverage in their investments. Leverage is simply borrowing money, and utilizing less of a cash investment. The minimum down payment is typically 25% and may be greater depending on the investment strategy. With interest rates at historic lows, and the ability to “lock in” the rates for up to 30 years, investors will usually choose to minimize their cash outlay, and have the rents cover the payments on the loan.

Rents have historically increased over time. This adds to the long term return of investment real estate.

The other advantage to residential or commercial investment is the hedge against inflation. Like precious metals, hard assets have an intrinsic value and can act as a hedge against inflation. The long term appreciation of residential properties in the Durango, Colorado area has been about 6%, although there has been a negative valuation in the last few years. When appreciation returns to the market, long term investors may see a combined annualized return of over 10%, with rents and appreciation.

Investments in real estate should be considered as long term investments. Investors may want to consider holding real estate in their portfolio for multiple years.

If you have any questions about investing in Real Estate, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

Don Ricedorff is a licensed real estate broker in the State of Colorado, with 18+ 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.

Types of Surveys

2011-08-17T10:41:00.000-07:00

There are several types of surveys that a Seller might be asked to provide and/or that a Buyer might want to purchase in a real estate transaction. Below is a brief description which was prepared by a local surveying company, Mountain Man Surveying, Durango, Colorado. I've also noted fees charged for each kind of survey by that company. Fees may vary by company and should be checked prior to engaging a surveyor.

1. Improvement Location Certificate: The purposed of this document is to provide a map of the property which identifies any issues with encroachment. It shows all improvements and recorded easements on the property except for utilities. This is not a BoundarySurvey and is not intended to be used for constructing new improvements or fences, only to identify the location of existing improvements. Fees: Within Durango $300.00; 0-10 miles from Durango, $325.00; 10-20 miles from Durango, $350.00; over 20 miles from Durango, $375.00.

2. Boundary Survey: The purpose of this survey is to locate existing monuments that pertain to the property, replace corners that are not set and to show any monuments that may be placed in an inaccurate location. A plat is provided and it is a requirement of the surveyor to record a deposit plat with the county if any corners are set by the surveyor on a metes and bounds description or if pins are set within a subdivision which has a recording date that is older than twenty (20) years prior to the date of the boundary survey. Existing improvements are generally not shown, unless asked for, and recorded easements are shown if a title commitment policy is provided. Fees: based on total of fieldwork and drafting, $800 to $1200.

3. Improvement Survey Plat: This type of survey is similar to a Boundary Survey and all of the same rules apply, except that all improvements are shown, including fence lines. Fees: based on total of fieldwork and drafting, $800 to $1200.

4. Alta Survey: This type of survey is similar to an Improvement Survey Plat, except it is subject to guidelines required by the title insurance company and may include items such as underground utilities. All exceptions from the title commitment policy are shown on the plat and the survey data is subject to much more exact tolerances for setting and showing monuments related to the property. Fees: based on total of fieldwork and drafting and also the required information to be identified on the survey, $2500 to $3500.

5. Elevation Certificate: This is a document which shows various elevations of a subject property in relationship to the existing flood plane data. Fees: similar to those for an Improvement Location Certificate.

If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

I'm an Accredited Buyer's Representative

2011-08-04T07:42:00.000-07:00

One of my top priorities as a Realtor is to make sure I continually educate and update myself. I devote approximately 20 hours a year, at least, to my continuing education. I hold many speciality real estate designations earned by taking extensive course work in each designated specialty. One of my most valued specialty designations is Accredited Buyer’s Representative (ABR). I am not the only Realtor who feels the value of earning this designation. This designation was ranked #1 as having the most value in a recent survey of members who hold the ABR designation.

Below is a list of questions republished from the July issue of Today’s Buyer’s Rep published by the National Association of Realtors . Buyers should ask themselves these questions as they make a decision about seeking representation in today’s real estate market. My sincere belief is that my expertise is a huge asset and brings value to the table for buyers in today’s confusing and challenging real estate marketplace.

1. D o I have time to not only research the residential housing market but also understand the best type of property to purchase based upon my needs?

2. Do I have access to the most up-to-date and comprehensive information on properties for sale?

3. Do I understand how to accurately interpret market data? (For example, how to compile and evaluate actual sales data and absorption rates?).

4. Do I know how to interpret this data in a way that will help me structure an attractive offer that has a reasonable chance of closing?

5. Do I understand real estate representation? The difference between being a client or a customer? What rights and duties come with representation and who is loyal to the seller versus the buyer? In other words, have I researched the value of formalizing a relationship with a buyer’s agent?

6. Am I familiar with the common residential real estate contract and how to interpret various clauses to best protect myself from making common buyer mistakes?

7. Do I have the expertise to negotiate on my own behalf when, for the most part, the seller’s side has a real estate professional assisting the seller with negotiations?

8. Do I have the ability to find a qualified home inspector? What about other qualified professionals needed in the real estate transaction?

9. Do I have time to research current home loan programs and determine which one is best for me?

10. Do I know the zoning regulations and building codes pertaining to residential real estate in the area I am interested in moving to? Do I understand how this may impact my plans to use or modify the property I want to purchase?

These issues and more may come up during the home buying process. If you have questions please don’t hesitate to contact me. It would be my pleasure to assist you as a Buyer’s Agent as you look for property in the Durango, Colorado area.

If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.

EXPERTISE IN PRICING IS CRITICAL IN TODAY'S MARKET

2011-07-19T08:07:00.000-07:00

I believe that the core competency needed by real estate agents in today’s market is expertise in pricing. I want to be able to educate my clients on the market realities so as not to enable unrealistic expectations. Too many agents overprice according to what used to work in the bygone appreciating market days with lower inventories. In today’s flat or depreciating market with high inventories, if a Seller overprices what they most likely are doing is losing value and losing time.

I use multiple methodologies in arriving at a recommended value. A few weeks ago I posted a summary highlighting the 3 major pricing considerations I use: 1) historic pricing based on past sales; 2) price point management based on Buyer pricing categories; and 3) key competition in existing inventory.

However, since earlier this year, another way that I am able to look at pricing is through a program exclusively available to the Wells Group in this area called Focus 1^st. With this program, I can generate graphs that show a Seller, based on current market statistics, what the odds are of selling their property. I truly believe that Focus 1^st, coupled with the other methodologies that I use in pricing, has been instrumental in helping me arrive at an optimum recommended price for my Sellers, and more importantly, instrumental in helping educate Sellers of a best price to list if they want their property to sell in today’s market.

Obviously, sometimes this pricing process is painful and I am not unmindful or unsympathetic of all of the facts and circumstances that may motivate a Seller to list a property for sale. However, my job as a real estate professional is to tell my clients the truth about what the market statistics are telling us. The market place, not me, is in the driver’s seat, and unfortunately, the market does not care what a Seller needs to make in order to break even and does not care if a Seller paid more for a property than it can now be valued if it is to attract a real buyer given today’s competition.

As I indicated, the Wells Group has had the exclusive right in southwest Colorado to use Focus 1^st since earlier this year. If you are interested in seeing an example of how these graphics look please give me a call. I would be happy to prepare a sample Focus 1^st presentation for your review.

Take care and as always, never hesitate to contact me or anyone on my Team with any questions.

True Summer Real Estate Season Starts Now!

2011-07-05T07:59:00.000-07:00

The 4th of July Weekend has come and gone. I hope your celebration was filled with fun and laughter.

Our motto as we now begin the true beginning of the summer real estate market in Durango is: Although we can't Predict, we can Prepare! My real estate team shows up everyday, prepared, enthusiastic and energetic to help Sellers in the marketing and sale of their property or to help Buyers in their pursuit of their Colorado dream home.

As the selling season begins, I want to remind you of the outstanding multi-pronged marketing that I have in place both through the Wells Group and through my office. The Wells Group maintains the highest % of any other Durango brokerage company in internet presence. Print advertising is also very strong, with full page advertising every Sunday in the Durango Herald, stimulating inquiries that benefit all listings. The Wells Group Real Estate Guide was published this past Sunday, which is a great kick-off piece to what we hope will be a busy summer. I believe my own internet presence and website (durangorealproperty.com) is second to none in La Plata County and I consistently receive compliments on how easy it is to find and navigate. The listings with my office are viewable 24 hours a day/7 days a week. As a final example, my office also sends hundreds of email blasts each week to all area real estate agents featuring changes and updates in the real estate market. In short, I believe our marketing systems are working round the clock to effectively market the properties we list and to help the buyers we serve.

We're here and we're ready! Let us know how we can help you with your real estate needs.

Holiday Decor

2011-06-27T09:58:00.001-07:00

Twin Buttes - Durango's Newest Mountain Development

2011-06-24T12:17:00.000-07:00

Two miles west of Durango sit the “Twin Buttes,” two nearly identical steep-sided, rocky formations well known to all Durangoans. They rise majestically above acres of beautiful meadows stretching up into the forest near the Buttes.

Earlier this year, Twin Buttes Development received approval from the City of Durango to build 595 homes, plus an additional 115,000 square feet of commercial space and 25, 000 square feet of civic space on this acreage. Developers envision building a community that incorporates affordable, elegant density with resource awareness and conservation. There will be an eight mile trail through the development for recreational use, along with other rangeland and community open space. Plans call for work to be underway by the summer of 2012 on the first phase, called West Meadows, which will be more agriculturally rooted and which will contain an already started organic garden. A sister sub-development to West Meadows, to be called Artisan Core, will be started later and will have a more urban feel.

Long Term Case for Home Ownership Optimistic

2011-06-09T15:06:00.000-07:00

One of the challenges of our job in the real estate market is maintaining optimism - especially in a period like the last couple of weeks when a lot of media attention on the economy seems to be gloomy. However, I see positive signs, such as our Wells Group 2011 statistical reports that show that year to date days on market are going down and transactions are going up. Also, short sales and REO (bank owned) sales in the La Plata county area are far below the national percentages. I see momentum building in the Durango real estate market, in spite of such factors as high gas prices and weak job growth. I'm reprinting a good article that appeared recently in the Wall Street Journal that also sets forth some optimistic thoughts for your consideration. As the summer begins in earnest, lets all keep our spirits up and get out and enjoy the sunshine!

WEEKEND INVESTOR

JUNE 4, 2011.

Why It's Time To Buy

The Clouds Haven't Quite Parted, But the Long-Term Case for Home Ownership Is Looking Stronger.

By RUTH SIMON and JESSICA SILVER-GREENBERG

Back in June 2006, when the housing market peaked, the prospect of a five-year national housing bust seemed unimaginable to most people. And yet here we are, with the latest Standard & Poor's Case-Shiller index showing that prices hit new bear-market lows, falling back to 2002 levels nationally and to 1990s levels in some battered regions.

Despite all the gloom, however, there are growing indications that it is a good time to buy. Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows. Homes have become more affordable than they have been in years: According to Moody's Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer's market: There were about 15 million vacant homes in the U.S. last year, according to John Burns Real Estate ConsultingInc.—some 3.1 million more than normal.

Such conditions might not last long. Moody's Analytics predicts that the number of distressed sales will begin to fall in 2013, and that prices will begin to edge upward then. Home building is at a virtual standstill, so the supply overhang isn't likely to get much worse. Meanwhile, demographic indicators such as "household formation"—the number of new households each year—are on the rise, and promise to take a bite out of the glut in coming years.

The upshot: "While we might not see rapid growth in the next couple of years, there are a tremendous number of positive signs that could lead to a rebound," says Anthony Sanders, a real-estate finance professor at George Mason University.

The short-term outlook isn't encouraging. Job growth remains weak, foreclosure sales are making up more of the market, and economists are predicting that home prices will fall more in the coming months.

But the long-term benefits of homeownership remain very much intact. For now, at least, you can deduct the mortgage interest on your taxes—a big perk for people in higher tax brackets. You get to paint your walls any color you wish, without having to clear it with a landlord. And assuming you can buy a home for about the same price as you can rent one, buying will give you the ability one day to live rent-free. Come retirement time, a paid-off mortgage means your monthly expenses are significantly reduced, and you have a chunk of equity to play with.

So what might the next five years look like? Once the foreclosure mess begins to clear up, say housing economists, the traditional drivers of the housing market—demographics, affordability, loan availability, employment and psychology—should take over.

Here is a glimmer of what the future may hold: While overall home prices fell by 7.5% in April over the same period a year earlier, according to CoreLogic, a Santa Ana, Calif., provider of real-estate data and analytics, if you exclude distressed sales, prices were off just 0.5%. So if you are in a market that isn't battered by foreclosures, you may be close to a bottom already.

"The regular marketplace is hanging tough," says CoreLogic chief economist Mark Fleming.

Here is a look at five key factors that will govern local markets over the next several years:

Demographics = The rate of "household formation" is expected to climb in coming years.

Affordability = In several markets, it's becoming cheaper to own than to rent.

Employment = The strength of the housing recovery depends on job growth.

Lending = As rates hover near historic lows, experts expect banks to ease borrowing standards over time.

Psychology = If prices stabilize, it could tip the balance away from fear and pull more buyers back into the market.

Demographics

Household formation fell during the economic downturn as a weak economy led some people to stay in school, double up with roommates or move in with family members. According to Moody's Analytics, the number of new households renting or owning a home dropped to 578,000 in 2008 from nearly 2 million in 2005, just before the peak of the housing boom.

But household formation increased to nearly 950,000 last year, says Moody's, and should average 1.2 million over the next decade.

That, combined with increased obsolescence and higher demand for second homes, should begin sopping up excess inventory in much of the country over the next two years, Moody's says.

"Whatever the excess supply of housing is, it is shrinking pretty fast," says Thomas Lawler, an independent housing economist.

Some of the uptick in household formation is likely to come from the leading edge of the echo baby boomers, who have been waiting for the economy to recover before striking out on their own, says William Frey, a demographer with the Brookings Institution. That is likely to fuel an increase in demand for both rental apartments and starter homes.

The portion of people moving across the country has fallen to the lowest level since World War II, he adds. That is a sign that many people have put their lives on hold because of the weak economy.

"When things do pick up, there will be this pent-up demand for everything involved with starting a household," Mr. Frey says.

Of course, when prices in healthier regions begin to rise, many would-be sellers who have sat on the sidelines could begin putting homes on the market, muting the price gains at first, says Susan Wachter, a professor of real estate and finance at the University of Pennsylvania's Wharton School. Even so, she expects home prices to stabilize and begin to strengthen over the next two or three years.

There also are some powerful demographic cross-currents worth considering. The first baby boomers turned 65 in January, an age when demand for new homes falls and many begin to think about downsizing. "The baby-boom generation pushed prices up as they got older," says Dowell Myers, a professor of urban planning and demography at the University of Southern California. But in the coming years, "boomers will start flooding the market on the supply side" with larger homes, while fueling new demand for smaller properties with more services and amenities.

Affordability

Rising home prices made renting cheaper than buying in many parts of the country. But that dynamic has begun to change: Housing affordability, as measured by the ratio of median home prices to median household incomes, has fallen below pre-housing bubble levels in just over two-thirds of the country, according to an analysis of more than 380 metro areas by Moody's Analytics.

Renting is still cheaper than buying in most markets, but rising rents and falling house prices mean that, in some areas, this won't be the case for long. Buying a home is already cheaper than renting in Chicago, Cleveland, Detroit and Orlando, Fla., according to Moody's Analytics. In other markets, including Dallas, Las Vegas and Sacramento, Cailf., the equation is likely to soon turn in favor of homeownership if current trends persist, the firm says.

In Ann Arbor, Mich., where home prices fell 11.2% between 2007 and 2010, according to Fiserv Case-Shiller, housing affordability has risen well above historical levels, according to Moody's Analytics.

That is good news for home buyers such as Steven Upton, a 42-year-old photographer, who in June will close on four-bedroom brick house on 10 acres in an upscale community in Ann Arbor. Mr. Upton paid $400,000 for the home, which previously listed for $600,000. "It's a tremendous deal," he says.

Before buying a house, it is wise to compare rental prices for similar properties. To be ultraconservative, wait until the monthly outlays, including taxes and insurance, are equal. You also could factor in the tax savings of owning, which would make buying more attractive even if the gross monthly outlay is slightly higher.

Employment

The strength of the housing market depends largely on the economy. Rising incomes and increased employment tend to give more would-be buyers confidence and buying power. For now, job growth remains sluggish: On Friday the Labor Department reported that just 54,000 jobs were created in May, far below expectations.

But signs of how a stronger job market could fuel housing demand are evident in the Dallas metro area, which added 83,100 new jobs in the 12 months ending in April—the largest gain in the nation, according to the Bureau of Labor Statistics. Dallas never had a big housing boom or bust and has benefited from trade with Mexico, a strong telecommunications sector and a central location.

The opportunities for a job with more responsibility drew Duane and Linda Elmer to Dallas from Des Moines, Iowa, where Mr. Elmer was a banker for nine years. The couple has agreed to pay $415,000 for a four-bedroom, four-bath house with a Jacuzzi and pool. Their Des Moines home, purchased nine years ago for $410,000, is on the market for $390,000. "We are willing to take the loss for the opportunity to live in a more diverse community and to take a job with greater breadth of responsibilities," Mr. Elmer says.

Borrowers like the Elmers who are relocating for job opportunities are a big driver of home sales in nearby Plano, Texas, says Harry Ridge, a real-estate agent. He says such sales accounted for 20% of his business last year.

A similar influx of job seekers is fueling housing demand in the Washington area, where 25,700 new jobs were added in the 12 months since April 2010. Washington was the only one of the 20 cities tracked by Standard & Poor's and Case-Shiller that saw home prices rise both on a month-to-month and year-over-year basis.

Credit

Mortgage financing remains plentiful for borrowers with good credit scores and solid employment histories. But for borrowers who don't fit traditional lending standards, getting a loan can still be nearly impossible. In the first quarter, about 10% of banks tightened standards for nontraditional loans, according to the Federal Reserve. Meanwhile, higher down-payment standards are locking some would-be buyers out of the market. Just 35% of renters have the minimum 3.5% down payment needed for an FHA loan on the median-priced home in their market, according to a recent survey by Zelman Associates.

Credit is likely to remain tight for at least the next six months, says Clifford Rossi, a former Citigroup Inc. consumer-lending executive who teaches at the University of Maryland.

But conditions should improve over time, he says: "There's no question that it will gradually get easier."

That will be welcome news to borrowers like Greg Silver. The 50-year-old real-estate developer would like to buy a second home, but hasn't been able to secure a jumbo mortgage because his income consists of capital gains from sales of the properties he develops. Mr. Silver closed three sales in the past 12 months, netting him a total of more than $25 million, but didn't record any capital gains in 2008 and 2009. Sure, he could use some of that cash to buy a home outright, but he would prefer to mortgage it, get the tax deduction and keep his cash free for business purposes.

"It's a little devastating," says Mr. Silver, who is living in Greenwich, Conn.

Psychology

The long-term case for buying over renting remains in force. Yet nowadays, "People are simply scared," says Aaron Galvin, chief executive of Luxury Living Chicago, which finds rental apartments for wealthy clients.

Mr. Galvin says he has seen a 30% increase in business in the last year, driven by would-be home buyers who can afford to purchase a property but are choosing not to do so.

The portion of Americans who believe homeownership is a safe investment dropped to 66% in the first quarter from 83% in 2006, according to Fannie Mae, the government-controlled mortgage company.

But it isn't clear whether the fear will result in a prolonged change in attitudes, as during the Great Depression, or have little long-term impact, as was the case for the housing bust that shook California and the Northeast in the late 1980s and early 1990s. Eighty-seven percent of people surveyed by Fannie Mae said they preferred owning to renting, though access to schools, control over one's environment and other quality-of-life issues now are seen as the key benefits of homeownership, with building wealth and other financial factors viewed as less important. In addition, 67% of renters surveyed by Zelman Associates said they planned to buy a home in the next five years.

Jeffrey Connor may be a bellwether for the future of the housing market. The 40-year-old finance director at a corporate law firm says he thought briefly about buying a house when he moved to Chicago from Washington in October. But he opted instead to rent a luxury two-story apartment in downtown Chicago for $3,559 a month. Mr. Connor says it will take substantial job growth and a sharp drop in foreclosures to convince him to buy.

"The market is clearly soft," he says, "especially when we consider it good news that the unemployment rate is hovering around 9% instead of 10%." Mr. Connor says he isn't worried about missing out on today's low interest rates and will consider buying once unemployment falls to 6%.

Other buyers are showing less willingness to wait for the absolute perfect time to buy. Doug Yearly, chief executive of luxury builder Toll Brothers Inc., told investors in May that "some of our clients, after waiting so long, are starting to move off the fence and into the market, motivated by attractive pricing, low interest rates and, most important, the desire to take the next step in their lives. The family with elementary-school kids and a puppy when the housing debacle began five years ago now has middle-school kids and the dog weighs 80 pounds."

Sellers: Are you pricing your home to sell?

2011-06-01T07:46:00.000-07:00

In my opinion, Sellers need to focus on 3 pricing considerations in order to market their property effectively in today’s real estate environment. Following is a brief summary on each of these pricing components.

1. Valuation. The first pricing component is the traditional methodology of establishing, to the best of our ability, the fair market value of a property based on a comparison of like properties that have recently sold, adjusted for size, quality of finish, age, location and any other special amenities. Reviewing and comparing “sold” properties is the best indicator of what the market is telling us, i.e. what have willing buyers and willing sellers actually agreed upon with respect to value for properties similar to your property?

2. Key Active Competition. Particularly in a buyer’s market, like the market we have now, pricing needs to be set not just according to similar properties that have sold, but also those active on the market today. It is critical to identify key competitors in the marketplace that would most likely be shown to an interested buyer who would also be looking at your property. It is important to “think like a buyer” and make sure your value is better than the competitors. Some Sellers think that this is not an important issue because they know that they may be willing to negotiate deeper than the competition off the pricing. But, the reality is, what we see in this market is that assuming similar property characteristics and location, Buyers are going to make their first offer on the home that is best valued.

3. Price Point Management. Key price points and how buyers search for the properties they want to see is a critical consideration in pricing. This is a separate issue from valuation and is important because buyers give their Realtors price parameters that they need to stay within. As an example, a buyer might say “I only want to look at homes between $300,000 and $400,000.” If your property is priced at $410,000 it is entirely probable that the buyer will never know of the existence of your home. As another example, our MLS databank this week shows that in the last twelve months, in the category of residential property sold in La Plata County, 34 homes sold in the range of $600,000 to $700,000. In contrast, only 12 homes sold in the range of $700,001 to $800,000, i.e. there were 34 potential buyers in the lower price point, while only 12 in the higher price point, a significant difference when trying to attract as much attention as possible to a property. The point of price point management is to make adjustments to valuation in order to come within the closest, most attractive and likely price points that a buyer will search in order to look at your property.

Spring Color Trends

2011-04-25T15:21:00.000-07:00

Interior inspiration is all around us with the start of a new season! Fashion, flowers, fruit…If you feel your home needs a mood boost to pair with the warm weather and longer days, all you may need is a new coat of paint. For some odd reason, paint seems to be one of the most daunting choices people make in their homes. In reality, it is one of the most cost effective ways to make an instant mood change—and if you don’t like the end result, it can be easily fixed. I took a cue from spring fashion and created a few paint schemes that will add depth and interest to any drab wall.

Layering different shades and tints of nude colors will make for a dynamic, interesting end result. This may be perfect if you are shy of color, however choosing just one nude will be boring at best. The variety of shade creates visual movement when different colors are used on adjacent walls.

For those of you who are daring and looking for a splash of spring on your walls, look no further! These two complimentary color schemes are full of life and interest. Use bold colors as accents or as a single focal point in a room. These colors work together as a pair; too much of one will overpower the other. Remember the rules of proportion when working with these delightful (yet powerful) colors.

2011 1st Quarter Real Estate Statistics for Durango

2011-04-22T09:47:00.000-07:00

Notices of Value for La Plata County coming in May

2011-04-15T11:59:00.000-07:00

We want to give you a heads up that next month (May, 2011) Colorado assessors will be mailing a Notice of Value to La Plata County property owners. These values will be based on market conditions from January 1, 2009 until June 30, 2010. This period of time is set by Colorado statute. Right now assessed value is set based on the 2008 level of value, as determined by market conditions during January 2007 to June 30, 2008, and that period showed much more positive market conditions than we have experienced since then. But, don't have high expectations that your taxes will go down given the new assessments based on the more current and negative market conditions. Everyone is part of the tax base, which goes up and down, like rising and falling tides, and the tax roll will be shaped based on mill levy elections for such things as our local Schools, the Business Improvement District, The Water Districts and the county market for oil and gas. Earlier this year it was reported that there has been a general drop of around 33% in oil and gas valuation which historically has born a huge proportion of La Plata property taxes. If you have questions about your Notice of Value you can contact the Office of the La Plata County Assessor, 970-382-6221.