Pagosa Springs Real Estate Newsletter, November 2011

It snowed yesterday. It seems like winter is coming early. The ski area has been open for weeks. This is good for the local economy. The hunters are happy to have a fresh blanket of snow on the opening day of Third Season, as this makes the animals move down from higher ground, and it makes them easier to track. Again, good for the local economy.

Also, the real estate market continues to improve. As you will see in the stats, overall sales are up 31% over last year. Personally, I am having a very good fourth quarter, and I expect to close out the year on a high note. I have a couple of deals in the works involving properties in the million-dollar range.

One concerning sign is that repos have ticked up slightly over the last week or so, although we are not any higher than we were back in September, and we are still well below the levels seen during the spring. You can see the last several months of data in this chart:

Let’s hope that this little uptick is just a bump and not a trend! I’ve also compiled some statistics about the repos and their place in our market. You can see how a relatively small percentage of the active listings represents a relatively large percentage of the sales:

 
Repos as % of Active Listings:
Repos as % of Pending Deals:
Repos as % of Sales (Last 30 Days):
Repos as % of Sales (Last 90 Days):
Repos as % of Sales (Year To Date):
All Properties
5.7%
20.6%
19.6%
23.9%
26.4%
Residential Only
9.9%
29.5%
18.1%
24.1%
29.7%

In closing, I came up with a way to solve all the problems in Washington. I’ll admit up front that I didn’t come up with it on my own. I stole it from a TV show I watch called The Biggest Loser. So here it is, a simple solution to all the partisan gridlock: Rock, Paper, Scissors! There are loads of situations where we could use this new strategy:

Should we hire more teachers? Rock, Paper, Scissors!
Should we switch to natural gas for our energy needs? Rock, Paper, Scissors!
Should we have more gun control? Rock, Paper, Scissors!
Should we spend more money to fix our roads and bridges? Rock, Paper, Scissors!
Should we raise taxes on the top 1%? Rock, Paper, Scissors!
Should we have a flat tax? Rock, Paper, Scissors!
Should we raise the minimum age for Social Security and Medicare? Rock, Paper, Scissors!
Should we do away with Obamacare? Rock, Paper, Scissors!
Should we fix our schools? Rock, Paper, Scissors!
Should we do business with Cuba? Rock, Paper, Scissors!
Should we lower corporate taxes? Rock, Paper, Scissors!
Should we crack down on immigration? Rock, Paper, Scissors!

Finally, should we work together in Washington for a better America, or should we do what is most likely to get ourselves re-elected? Rock, Paper, Scissors!

I was thinking about sending this list to David Letterman for his Top 10 List. This would probably get a good laugh, but what a sad story.

I hope everyone has a great Thanksgiving!


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