October 2015 Pagosa Springs Real Estate Newsletter
September was a beautiful month with lots of sunshine, and we had rain once a week to keep things green. We haven’t had a hard frost yet, but it should be here soon. The colors here are just about at their peak, but you’ve heard that the grass is always greener somewhere else, so Laurie and I are going to check it out. We’re headed to New Hampshire to see the fall colors in another part of the country. This has been on my bucket list for some time, and now that Laurie has retired from teaching, we’re going to make it happen.
New Hampshire was my childhood home, so I’ve got hopes of reliving some memories from when I was a kid. I’m bringing my fishing pole with me, and I’m hoping to catch some pickerel on Spectacle Pond, just like in my younger days. I’m also looking to enjoy some clam chowder, and maybe a lobster (or two)!
Pagosa Springs is still hopping, though the crowd is a little older now that everyone’s kids are back in school. So far this year, sales tax collections are up 15% over last year, so the economy continues to boom. The black powder hunters have all gone home, so next up are the rifle hunters, who will be arriving later this week and continuing through October.
The new Hometown Food Market had their grand opening downtown a few weeks ago. Now we’re waiting for the City Market to have their Grand Re-Opening on November 4th. City Market is just about to wrap up a $3.4 million renovation. As an added bonus, the revamped store will include a Starbucks.
The real estate market has been very hot lately. September saw at least 81 closed sales, which is the highest number for a single month since I began tracking this statistic back in 2008. Even with all the closed transactions, the pending sales remain near record highs, so there should be some very strong numbers to finish out the year. The commercial market has been active this year. We’ve had 20 commercial transactions so far, which is a gain of 150% over last year. Building permits are up slightly with 69 this year compared to 52 last year at the same time. Interest rates remain extraordinarily low, with a 30-year fixed loan at 3.875% and a 15-year fixed at 3.125%. The table is set for a strong finish to the year in real estate.
The prognosticators are saying it could be a record breaking winter for snowfall in our part of the world. It’s hard to believe it now, but we’ll be skiing here in about a month!