February 2010 Newsletter

With only one month of the new year under our belts and with this being the slowest time of year for Pagosa real estate, there is not much of a story to tell. We are up by a couple of transactions over last year, but the sample is so small that it’s hard to tell whether the numbers mean anything at this point or not. However, I can say this; we have an unusually large number of properties under contract for this time of year. At last count, there were 43 pending transactions. If even two-thirds of those transactions actually close, we will soon be well above last year’s to-date totals. The amount of activity in the pipeline is encouraging.

Bank repos remain the driving force in the market, and the number of repos on the market is up about 25% from a couple months ago. Not all the sales are bank repos, but the repos are setting the prices, and if you want to sell your property, you have to compete with them. From a buyer’s perspective, this creates an incredible opportunity. I see several screaming deals come across my desk every week. I regularly distribute a list of all the bank-owned properties currently listed around town. To view the current list, click HERE. If you would like to receive this list via e-mail on a regular basis, just give me a call or send me an e-mail, and I’ll add your name to the mailing list.

Here in Pagosa, we were recently blasted with a series of winter storms. In town, we received more than three feet of snow over the course of a couple of days. For all of you out-of-town folks who own homes in Pagosa, you need to have someone check out the snow load on your roof as soon as possible. The weight of the snow and ice dams can both create serious problems. If you need help finding someone to remove the snow and ice, give me a call and I’ll be happy to hook you up with someone trustworthy.

Though the weather causes problems for homeowners, it is a boon to skiers and outdoor enthusiasts of all types. Wolf Creek Ski Area currently has 107 inches of snow at the summit, and they have received 273 inches so far this year. The snowpack in the mountains is currently at 104% of average. If this continues, we’ll be certain to have a green spring and summer this year and a good rafting season.

Well, so much for now. Hopefully you haven’t given up on your New Year’s resolutions. Don’t forget that if you have friends or family looking for a top notch Realtor outside the Pagosa area, I have a list of Realtors known as CRS, or Certified Residential Specialists. These are the top 4% of Realtors nationwide; they are the cream of the crop. I am more than happy to connect you with them.


Lee Riley
GRI, CRS
2011 & 2014 Realtor of the Year
Phone (970) 731-4065
Fax (970) 731-4068
Cell (970) 946-3856
Email: LeeRiley@ISellPagosa.com