Durango, CO Latest Economic Indicators

The latest economic indicators were just released from the Durango Chamber of Commerce. It is our pleasure to be able to share them with you.

Finding Harmony: Ceilings

Every home is as unique as the people who dwell in it, but have you ever wondered how the two of you could be a better match? One of the most effective ways to incorporate the design principle of harmony is to fuse your home’s architecture with your personal décor. Let’s take a look up: Ceilings. They not only serve as a structural mainstay, but they also create permanent line drawings within the home. These are just a few suggestions for finding harmony between your home’s aesthetic and architecture.

Exposed beams are like bold patterns that beg for attention. Stain them. Show them off. Choose furniture fabrics in like pattern to create an awing effect of mirrored floor and ceiling space.

Roof lines make a room dynamic; to maximize this effect, match ceiling shape by hanging art in direction of line. Play with a symmetrical grid or an amorphous shape to highlight the architectural line of the room.

I am reprinting a recent article regarding consumer attitudes about home ownership. Last year several media outlets reported that home ownership was perhaps not as much of an "aspiration" as it once was. This article indicates that a majority of homeowners and a sizable percentage of renters strongly agree that home ownership offers a healthy family environment and financial benefits. Many renters would like to be homeowners but face financial obstacles in achieving that goal.

reprinted from Real Trends, January 20, 2011 edition:

"American Attitudes About Homeownership

Homeowners and renters have generally positive views about homeownership and the financial and non-financial benefits it provides to families and communities. A large share of renters aspire to homeownership, despite the financial obstacles of buying a home including accumulating a down payment and concerns about job security. The tax benefits of homeownership are valued by both homeowners and renters with large percentages noting that it is important to keep these benefits in place.

Homeowners and renters agree that owning a home is a positive choice. A majority of homeowners and a sizable percentage of renters agree or strongly agree that owning a home provides a healthy and stable environment for raising a family (87 percent among homeowners and 64 percent among renters), that it helps them meet long-term financial goals (77 percent among homeowners and 55 percent among renters) and it helps them realize the American Dream (70 percent among homeowners and 48 percent among renters).

Most homeowners (95 percent) and renters (72 percent) believe that over a period of several years, it makes more sense to own a home than to rent.

More than 8 in 10 homeowners (82 percent) and half of renters (50 percent) would prefer to buy a home if they had to move in the next six months. Furthermore, 78 percent of homeowners consider now a good time to buy as do 58 percent of renters.

Homeownership is viewed as a positive experience while less so for renting. Eighty-eight percent of current homeowners report that owning a home has been a positive or very positive experience.

About half of renters (51 percent) consider their experience as positive or very positive.

Many renters aspire to homeownership. More than 6 in 10 renters are at least somewhat likely to purchase a home in the future and 24 percent indicate that they are extremely likely. Among young adult renters, 74 percent say they are likely to buy at some point in the future. About one-third (35 percent) of renters plan to purchase a home in the next 3 to 5 years (43 percent among young adult renters).

For renters planning to purchase a home, many face obstacles to achieving their homeownership goal.

Eighty percent of renters note that having enough money for a down payment and closing costs was an obstacle to homeownership. Other obstacles include finding a home that is affordable and having confidence in job security.

Both homeowners and renters recognize the financial and non-financial benefits of owning a home. Nearly two-thirds of homeowners (63 percent) and renters (65 percent) consider the financial and non-financial benefits of homeownership equally important.

Homeowners and renters believe that it is important that the tax benefits of homeownership remain in place. For example, 74 percent of homeowners believe that it is extremely or very important to maintain the mortgage interest deduction; 62 percent of renters share this view as well.

For homeowners with a mortgage, more than one-third (34 percent) report that the mortgage interest deduction helps their family very much or a great deal in today’s economy. Furthermore, more than half of homeowners with a mortgage (57 percent) report that owning a home would be less attractive to them if the mortgage interest deduction was no longer available.

Renters and homeowners believe that owning a home is more or much more difficult than it was in their parents’ generation (55 percent among homeowners and 74 percent among renters). "

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.

Residential La Plata County Stats: 2005-2010

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.

A Touch of Winter Warmth

With the holidays past and a new year in our midst, we have the best opportunity of the year to recognize the shift of décor within our homes. Generally speaking, our homes evolve throughout the year, as do the seasons—blankets in the winter to grace the couch or tropical candles in the summer to join the surplus of vacation-minded people. What is different now? When your holiday boxes return to the garage, take a look around. Did you lose a bit of the cheer holiday decorations add to your home? Is there a punch of vibrant color missing? Winter is still here, and here to stay. Cold weather and short, wintry days only entreat for warm, welcoming feelings within your home. Keep reading for some tips to add a bit of that cozy (non-holiday) cheer back to your home.

1. Pillows and Throws: Try fun textures and energetic colors that add visual warmth as a quick and cost-effective way to transform a room. (Pillows: West Elm; Throws: Restoration Hardware

2. Accent Chair: A great piece of furniture can beckon you to spend more time in your own home. Try a sophisticated wingback chair that envelopes you and acts as a focal point in a room—a piece every guest is sure to recognize at first glance. (Chairs: Tomlinson/Erwin-Lambeth)

3. Color Contrast: Paint a single wall in a room a complimentary color to your current scheme. This contrast will make your room rich and dynamic, adding depth and interest to any space.

4. Light: During these dark months, adding additional light will make a world of difference in mood and evoking welcoming emotion. Think candles, table lamps, tea lights…these can be new additions or rearrange light that you already own and put them in new rooms throughout your house. (Candles: BSA Candles; Lamp: Currey & Company)

New Year's Resolution: Laugh More in 2011!

The late Erma Bombeck, one of America's funniest columnists and author of quite a few dissertations on the humor of life, knew the importance of laughter. "If I could live my life over," she once wrote, "I would have laughed more."

We always have fun here in my office and try to maintain a sense of humor. This coming year, we will strive even harder for that balance between seriously serving the needs of our real estate clients while doing so with cheerfulness, laughter and a positive attitude. It would be my pleasure to work with you on any of your real estate needs in the coming year.

Happy New Year!

"Life is huge! Rejoice about the sun, moon, flowers, and sky. Rejoice about the
food you have to eat. Rejoice about the body that houses your spirit. Rejoice
about the fact that you can be a positive force in the world around you. Rejoice
about the love that is around you. If you want to be happy, commit to
making your life one of rejoicing. " (author unknown)


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 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.

What Do You Want and Need in a Home?

I'm reproducing here information from REBAC, a subsidiary of the National Association of Realtors, regarding considerations for Buyers in setting priorities as they shop for a new home. I am proud to have the ABR designation (Accredited Buyer's Representative) that is awarded by REBAC.

"Finding a new home can be exciting. But deciding what you truly want and need—and can afford—can be challenging. Making these decisions begins with setting priorities among many different preferences. Most homebuyers invariably face trade-offs. Your buyer’s representative can play a key role in helping you sort out your options. He or she can also offer important insights specific to your local market. Here are many of the considerations you'll want to discuss with your buyer's rep:

Basic Home Features
*Do you prefer a single-family
detached home, townhome,
condominium, or other type
of property?
*Desired number of bedrooms
and baths
*Preferences regarding kitchen,
dining, family rooms, etc. and
preferred home layout
* High-priority home features,
such as kitchen appliances,
fireplace, etc.
* Other types of rooms needed
(e.g., a home office or a
hobby space)
* Storage spaces (closets,
basement, an outdoor shed, etc.)
* Need for a garage or
parking space, and if so,
for how many cars?

Other Home Preferences
* Ranch, two story, split level, etc.
F Age and style of home
(Victorian, bungalow, modern, etc.)
* How important is energy
efficiency or other green
home features?

Neighborhods/Location
* Commuting considerations
(to work, shopping, etc.)
* Proximity to desirable features
(such as a community center,
exercise facility, school, hospital, etc.)
* Views—how important is to find
your ideal view (overlooking a park,
for example) or avoiding a bad one
(a busy highway)?

Lot Characteristics
* Size and shape, including back,
front and side yards
* Landscaping considerations—the
need for open play areas, privacy,
patio space, decking, etc.
* Home orientation—is it important
for your home to face a particular
direction?

Life at Home
* If you’ll be sharing your home
with children, pets, live-in parents
or others, how does this impact
your housing preferences?
Both now, and in the future?
(For example, pets may require a
fenced-in yard; older parents may
dictate one-floor living.)
* Proximity to neighbors
Related Costs
* Homeowner association fees?
* Property taxes

Trade-offs
* How much do you want to invest
in a home beyond the purchase
price, either financially or in terms
of sweat equity, if you can’t find
exactly what you want?
* Are you willing to consider other
neighborhoods that provide
better affordability?

Resale
* How long do you plan to live in
this home? How does this impact
the type of home you will buy,
how much you’ll spend, and your
choice of location?"