As a Durango Colorado real estate broker, the homes in the price range over $500,000 are fun to represent, as it is all about life style. Most of the buyers in this price range are looking for enhancements to their busy life, and they have been drawn to Durango Colorado for the life style choices that are offered. It may be a primary home or a second home that one is choosing, but it is almost always about the great choices surrounding us. This is sometimes called the amenity driven market, and it is what attracts people to Durango Colorado. Often it begins with a visit to historic downtown Durango, with a heritage back to the old west and mining in the nearby mountains. The Durango Silverton narrow gauge train is a destiny for many, and it is a sight to see when it traverses through Durango and the Animas Valley. Many people are drawn to Mesa Verde national park, with the cliff dwellings of the Anasazi. Durango is a portal for the entire southwest, with easy access to Moab, Lake Powell, Canyon Lands, Monument Valley, and the high desert of New Mexico. Durango also offers abundant cultural events, unique for a town of its size. There are on going opportunities for music through the Fort Lewis College concert hall, nearly 20 art galleries in Durango, a community art center, Music In The Mountains, and exciting events all year long. Fort Lewis College offers wonderful musical performances, theater, and life long learning lectures, making Durango an exceptional cultural experience. In addition, the culinary standards are quite high in Durango, with many choices for people who like to dine in fine restaurants. It is said that Durango has more restaurants per capita than San Francisco.
Living here is about choosing the life styles and amenities that you would appreciate. With the approximately 300 days of sunshine in Durango, outdoor activities are in abundance. There are large communities of cyclists and mountain bikers, golfers, a community tennis group, skiers, snow boarders, fly fishing enthusiasts, kayakers, hikers, backpackers, and ice and rock climbers. Just last weekend, we went to Ouray and watched the world renowned ice climbing, and at the end of January, my son and I backpacked into Dark Canyon near Hite Utah.
Durango is special with its relationship with the Animas River, which flows right through town, and actually has good fishing. The river walk has been extended in recent years, and just this week, agreement was reached to extend it further north.
There are numerous rivers, high mountain streams, large reservoirs, and alpine lakes to fish. One of the favorite locations for many fishermen is the gold waters of the San Juan River.
There are many choices for life style in this price range. Some people choose to be in town in neighborhoods like Sky Ridge, Rockridge, Timberline View Estates, or perhaps a loft downtown or a historic home in the historic district. The in town homes are the most convenient for taking advantage of all of the dining and cultural events of Durango, and for families, the neighborhoods are close to schools, churches and shopping. Some of these neighborhoods offer greater privacy with larger lots and some with huge views of the peaks.
There are many people looking for that Colorado feel of being in the Ponderosa pines, and yet within 10 to 15 minutes of town for the convenience. Areas like Edgemont Ranch, Edgemont Highlands, Shenandoah, and King Mountain Estates are some of these choices. They tend to be on small parcels or on small acreage, with a value on views and privacy. Often, hiking or biking trails are available as amenities.
Some people choose the larger acreage parcels, generally in the 35 to 40 acre range, and some of the ones close to Durango include Durango Ridge, Rancho Mira Sol, Trappers Crossing, and open agricultural properties on the Florida Mesa. Buyers of these properties generally want long views, and privacy, or perhaps equestrian use.
North of Durango, the choices for amenities include golf communities at Dalton Ranch or Glacier Club, and skiing and other winter activities at Durango Mountain resort. The summer activities are centered around the national forest, and appreciating the great outdoors. There are many home choices in these communities.
We also have a few river or stream properties in the area. They tend to be scarce, but it is possible to live near or have access to a fishable stream in southwest Colorado.
I would love to assist you with your life style choices. My promise is to listen to you, find out what the important attributes that you would like to have, and match up your interests with the property choices in our area. This is an exciting time in Durango, and living here has never been better.
If you would like to have further information on Durango Colorado real estate, please contact 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 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
ABR, Accredited Buyer RepresentationR
SPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist
CLHMS, Certified Luxury Home Marketing Specialist
He is also an active volunteer. He is the President Elect of the Durango Area Association of Realtors, and he is involved in the community and in his church. His personal interests include spending quality time with his family (wife and three children), playing tennis, fly fishing, hiking, boating, and water skiing.
Thursday, February 26, 2009
Friday, February 20, 2009
The Stimulus Package Expected To Make A Difference In Real Estate, And It Should Help Us In Our Local Area, Durango Colorado!
I have just returned from the Colorado Association of Realtors winter meetings in Denver Colorado. There are a number of provisions in the Stimulus Plan, but this article will be limited to a few.
First, the $8,000 1st time homebuyers tax credit will help to put people in homes around the country. The National Association of Realtors expects this part of the plan will provide an additional 300,000 housing units to be sold! The income limits are $75,000 for single individuals, $150,000 for those who file jointly, and they phase out from $150,000 to $170,000. This is an improvement over the tax credit last year, as it does not have requirement for repayment, and of course, it is a little bit higher. The tax credit may be taken on the 2008 or 2009 tax returns. It expires on November 30, 2009, so the purchases must be from now until then. Each of these purchases should increase other economic activity by $60,000, from home improvements to furniture.
Second, the agency jumbo rates decreased at the first of the year, as the rules changed from 125% of median income up to $720,000, to 115% of median income to $625,000. They are now going back to the higher limits. This may help us get back up to $443,750 for FHA loans locally, from the current $379,750. This is preliminary and not final. The National Association of Realtors expects this to increase units sold nationally by 150,000 units.
Third, the next batch of TARP funds, utilized to buy back Freddie Mac and Fannie Mae loans, and help to keep low interest rates are expected to increase sales of homes by 400,000 units, according to NAR.
Last, investor limits on loans have been raised from four loans maximum by Fannie Mae and Freddie Mac to ten loans. This will assist in keeping investors interested in buying up properties for rental use.
All of these provisions in the Stimulus Plan will assist us in selling more real estate. Now, we need to spread the word of the timeliness in purchasing real estate. This is the perfect time to purchase with the high level of inventories of homes for sale, the depressed real estate market, the deeper negotiations offered by sellers, and it is critical for buyers to buy this year, while they can take advantage of the tax credit, and the artificially low interest rates.
If you would like to have further information on Durango Colorado real estate, please contact 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 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
ABR, Accredited Buyer Representation
RSPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist
CLHMS, Certified Luxury Home Marketing Specialist
He is also an active volunteer. He is the President Elect of the Durango Area Association of Realtors, and he is involved in the community and in his church. His personal interests include spending quality time with his family (wife and three children), playing tennis, fly fishing, hiking, boating, and water skiing.
First, the $8,000 1st time homebuyers tax credit will help to put people in homes around the country. The National Association of Realtors expects this part of the plan will provide an additional 300,000 housing units to be sold! The income limits are $75,000 for single individuals, $150,000 for those who file jointly, and they phase out from $150,000 to $170,000. This is an improvement over the tax credit last year, as it does not have requirement for repayment, and of course, it is a little bit higher. The tax credit may be taken on the 2008 or 2009 tax returns. It expires on November 30, 2009, so the purchases must be from now until then. Each of these purchases should increase other economic activity by $60,000, from home improvements to furniture.
Second, the agency jumbo rates decreased at the first of the year, as the rules changed from 125% of median income up to $720,000, to 115% of median income to $625,000. They are now going back to the higher limits. This may help us get back up to $443,750 for FHA loans locally, from the current $379,750. This is preliminary and not final. The National Association of Realtors expects this to increase units sold nationally by 150,000 units.
Third, the next batch of TARP funds, utilized to buy back Freddie Mac and Fannie Mae loans, and help to keep low interest rates are expected to increase sales of homes by 400,000 units, according to NAR.
Last, investor limits on loans have been raised from four loans maximum by Fannie Mae and Freddie Mac to ten loans. This will assist in keeping investors interested in buying up properties for rental use.
All of these provisions in the Stimulus Plan will assist us in selling more real estate. Now, we need to spread the word of the timeliness in purchasing real estate. This is the perfect time to purchase with the high level of inventories of homes for sale, the depressed real estate market, the deeper negotiations offered by sellers, and it is critical for buyers to buy this year, while they can take advantage of the tax credit, and the artificially low interest rates.
If you would like to have further information on Durango Colorado real estate, please contact 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 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
ABR, Accredited Buyer Representation
RSPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist
CLHMS, Certified Luxury Home Marketing Specialist
He is also an active volunteer. He is the President Elect of the Durango Area Association of Realtors, and he is involved in the community and in his church. His personal interests include spending quality time with his family (wife and three children), playing tennis, fly fishing, hiking, boating, and water skiing.
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