Pagosa Springs Real Estate Newsletter, October 2013

Fall is upon us, and it is beautiful. The colors are at their peak. Things have finally dried out after a very wet September, but the drought seems to be over for now. The first wave of big game hunters has already come and gone. The second, bigger wave will be here soon when rifle season opens on October 12th. The Colorfest balloon rally was last week, and 21 balloons took to the airways. We had record crowds in town for the festivities. This is great news for the local economy. Piedra Road is currently under repair. It was originally scheduled to be complete by the end of the month, but with all the wild weather we’ve been having, I don’t know if they will finish on time or not. Walmart has not broken ground yet.

So much for local chatter. The real estate market is up 11% over last year. Normally, fall is the strongest time of the year. September was softer than normal, and pending sales are down. Hopefully, October will rebound. Interest rates have come down a little in the past 30 days. The latest rates are 4.375% for a 30-year fixed and 3.5% for a 15-year fixed.

Washington is its usual self; out to lunch! So long for now. Go Broncos!

Lee Riley
2011 & 2014 Realtor of the Year
Phone (970) 731-4065
Fax (970) 731-4068
Cell (970) 946-3856