September 2010 Newsletter

The weather over Labor Day Weekend was spectacular. As we head into the Colorfest Balloon Rally next weekend, it is expected to continue. The weatherman is predicting 70 degrees and sunny all week. Soon we’ll be sliding into Fall, perhaps the most beautiful season in Pagosa (though it’s hard to pick just one!) The Aspens will turn and the sun will shine. Mornings will be crisp and clear, and the high country will be filled with bugling elk.

Recently, I’ve been thinking about what has changed in Pagosa and what has stayed the same. From a Realtor’s perspective, it can seem like the world has turned upside down. Prices have fallen significantly for homes, condos, and land. The number of real estate deals happening every year is nowhere near the “Good Old Days” of 2005 through 2007. Quite a few of my colleagues have switched offices, relocated, or closed up shop altogether.

But when I think about things from a buyer’s perspective, the only thing that has changed about Pagosa is the price. We still have the same beautiful weather. The mountains are just as fantastic as ever. The elk, deer, and turkeys are still here. We still have four distinct seasons. We’ve got cool, sunny summers, golden Aspens in the fall, deep-powder winters, and wildflowers in the spring. Best of all, Pagosa’s #1 asset remains unchanged, and that asset is our people. Pagosa has the nicest, friendliest people that I’ve ever had the pleasure of calling my neighbors. All the features of Pagosa Country remain the same, and the only change has been the price. Everything is on sale now! I believe that Pagosa was a great bargain even at the elevated prices of recent years. Now that everything is on sale, it’s an even better deal.

Interest rates are now at their lowest levels in decades. A few bank repos and distressed properties are now selling at half of their peak price. The fall is traditionally a good time to be a buyer in Pagosa Springs. In the spring time, sellers are optimistic – they’ve got flowers coming up and the whole summer ahead of them. Now, sellers are starting to think about the first snowflakes falling and the idea of holding their property through another winter. Soon, some sellers will give up and take their properties off the market until next year. If you want the best values of 2010, you should be looking at properties right now.

Please do no hesitate to call or email me if there is anything I can do for you.


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