Lake Nighthorse A Reality After Decades!

A New Lake in our Area Nears Completion!


Lake Nighthorse, named for the former Colorado United States Senator Ben Nighthorse Campbell, is now 20% full. If all goes as planned, water being delivered to Lake Nighthorse from the Animas River will fill it by the year 2011. This may seem like a long ways off, but the reality is that this is a project that culminates literally decades of discussion, negotiation, design and construction, so the year 2011 actually seems unbelievably close to those of us who have watched or heard about this project for many, many years!


Lake Nighthorse is located in an area called Ridge's Basin which is southwest of Durango. Once filled, it will have a surface area of approximately 1,500 acres or roughly two square miles. The intended use of Lake Nighthorse is primarily for diversion and water storage for the seven "sponsors" of the Animas-La Plata compact that was formed in the 1960s. Those sponsors include the Southern Ute and Ute Mountain Indian Tribes and the Navajo Nation, as well as water management entities in both Colorado and New Mexico. The sponsors will each receive water from the project for approved uses according to complex agreements that were negotiated as part of the Animas-La Plata compact.


Lake Nighthorse has also been approved for recreation, fishing and wildlife uses, although my understanding is that the specifics, timelines, rules and regulations of this recreation piece are still being fiercely negotiated by various interested parties, including environmental groups. Funding for recreational use is obviously a critical piece and not yet in place. The new lake will most likely be off limits to the public until the questions about funding and approved recreational uses have been resolved.


In summary, after decades of debate and hard work, completion of Lake Nighthorse is just around the corner and will open a grand new resource for Durango and the surrounding region. It is a new resource that I look forward to with anticipation!

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 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.

Let's Go Green

I hear the words "Green Products" and "Sustainability" a lot nowadays and I imagine that you do to. Just what do these words mean? Well they actually incorporate the same thought: i.e. that the long-term cultural, ecologic and economic health and vitality of individuals, companies, governments and other organizations is tied to using what resources we have more efficiently and minimizing negative impacts on our common environment.


My research indicates that there is a growing desire among home owners and home purchasers for green or sustainable products. More and more Americans are truly thinking about the economic, social and environmental consequences of the household decisions we make every day. For instance, people are buying more energy-efficient light bulbs, appliances and electronics. They are also buying more energy efficient cars. And in my industry, real estate, more and more buyers are looking for energy efficient, green built homes.


Is there a top reason why today's buyers are searching out greener homes? Well, the bottom line is probably the pocketbook! Certainly, greener homes are good for the Earth, but, consumers are finding that they are also easier on the wallet over the long term. The savings on maintenance and energy can mean thousands of dollars over time, not to mention the re-sale value such a home will most likely have compared to an older home that does not have energy-saving features. I see more and more of my clients being knowledgeable and asking questions about the true cost of a home. In my opinion, the true cost is not what they pay up front, but what it will cost them to own, operate and live in it on a daily basis.


So, how does a home become Green? Here is a list of just some of the ways:


1. More durable roof coverings.
2. Energy efficient windows.
3. Fiber-cement siding.
4. Increasing the amount and R-value of insulation.
5. Incorporating passive solar design features.
6. Engineered wood products that conserves trees.
7. Recycled plastic lumber for decks, porches, etc.
8. New toilets designed to use less water.
9. Energy efficient appliances.
10. Factory built components, reducing waste on job site.
11. Insulated foundations.
12. Efficient, correctly sized heating, cooling and water heating equipment.


Warranties and Certifications to look for to know that you are truly getting a Green built, sustainable home include the following:


LEED Certification: This is the recognized standard for measuring building sustainability. Achieving LEED certification is the best way to know that a home is truly "green."


Energy Star: Energy Star is a government-backed program that identifies and labels energy efficient products. Builders can advertise an Energy Star rating if the home scores at least 85 or below in this climate zone on the HERS Index (described below).


HERS (Home Energy Rating System): This is an index scoring system in which each 1 point decrease in the HERS Index corresponds to a 1% reduction in energy consumption. A typical code built home scores approximately 100 on this scale. A home with a HERS score of 85 is 15% more efficient than a home rated at 100 on the HERS Index.


Durango boasts many home builders who understand the importance of the above ratings and designations in today's market and who have made a conscience choice to build green. Artistic Homes is one such example, and I've written before about the new, affordable homes being built by that company in Durango.


Don't hesitate to contact me if you have questions about Green Built homes in the Durango market or if I can assist you in any other way with respect to your real estate needs. 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 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.

Beware New Appraisal Rules

Choosing your Lender carefully is more important than ever!

By now many of you have read or heard that lending became more complicated with some lenders when a new law, called the Home Valuation Code of Conduct (HVCC), became effective on May 1, 2009 and created confusion and frustration with respect to the appraisal process. I recently attended a leadership summit in Chicago sponsored by the National Association of Realtors (NAR) and I can tell you that trying to address and fix the problems this new law has created is a primary legislative focus for NAR during the upcoming year.

It is ironic that this new law created such a firestorm, because its intent was, on the surface, a good one, i.e. to prevent those who stand to profit from a real estate transaction from putting undue pressure on the appraiser. It sounds so simple, but in practice the new law apparently has caused untenable delays across the nation and with many frustrated buyers backing out of real estate transactions. Some of the horror stories relate to some of the larger underwriters engaging national appraisal clearinghouses that send in "out of area" appraisers unfamilar with a local market resulting in appraisals that don't reflect local market conditions. Or sometimes, the problem has been that a local appraiser is engaged, but the national underwriter places the appraisal in a never-never land of "appraisal review." I've encountered several deals like that this summer involving a Durango sale that is placed in "appraisal review," presumably somewhere on the East coast and several weeks can go by before we ever hear back. In some instances, we never heard back! Fortunately, the Buyers in those instances were able to move to superb local lenders who got their purchases over the finish line. However, this did require the cooperation of the Sellers to extend out the Closing dates to accommodate starting over with new lenders!

I have always been an advocate of using local lenders familiar with our Durango area real estate market. Many of the local lending companies knew about this new law and had systems in place to make a smooth transition well before the May 1, 2009 effective date. The customers who work with those lenders don't seem to be experiencing as many, or any problems resulting from the new appraisal process. Now more than ever I recommend that Buyers carefully review with the lender of their choice how the appraisal process works for that lender. Some questions to ask are: Are only local appraisers on the panel of appraisers that must be selected from? Are the underwriters to be used by the lender also local in nature so that if something is sent to "appraisal review" it will be reviewed by an entity familiar with the Colorado market and in particular, the Durango market? What is the lender's recent track record with appraisal issues and closing delays because of appraisal issues?

If you have any questions, please do not hesitate to contact 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 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.