Our world has changed a bunch in the last 30 days. As I write, I am sitting outside on the patio at Riff Raff on the Rio, enjoying a beverage and listening to the river splash by. This is refreshing after being cooped up for so long.
I just came back from visiting the grandkids in Denver. My youngest grandson, Grant, just turned five. It was a three-day affair! While in the Big D, I did a little shopping and looked at a few cars. The malls were mostly still shut down except for a few big-name retailers. I’m back home now, and it’s always great to be back in Pagosa Springs. The town is opening up little by little. No new cases of the virus that I’m aware of. Most people are wearing masks, especially in the grocery stores and Walmart. In the hardware stores, not so much.
I just launched my pontoon boat on Navajo Lake last week. I expect this will be considered my summer vacation in lieu of the trip to Italy we had planned. New Mexico just opened their side of the lake, so I’ve got a little more space to float around in.
The weather has been great. Temperatures now are in the 70s and 80s, and after a long dry spell, we’re starting to get some afternoon showers. The rivers have already peaked and are becoming fish-able. It was nice to see Pagosa Rafting Outfitters loading up a group to go down the river. I wasn’t sure whether they would open this year. One thing that has stayed constant is how beautiful Pagosa is year-round. We are very lucky to live here!
Now for the latest in real estate news. As expected, closed sales in May were few and far between. At the end of April, sales were up 10% for the year and now they are down 10% – a swing of 20%. The good news is that even though pending sales are still down from last year, activity was up in May and a lot of properties went under contract. I know that things were extremely busy in my office. When you look at the graphs below, the pending sales look like a V. I’m optimistic that we will catch up rather quickly. Home sales are down 8%. Condo sales are still strong – up 38%, and land sales are down 23%. So far this year, we’ve had 234 sales compared to 260 last year. Interest rates are at ridiculous lows. A 30-year fixed-rate mortgage is currently at 3.125% and a 15-year is at 2.5%. The contractors in town are also busy.
Just a reminder – the glass is half full. Be safe and enjoy a great summer in Pagosa!
GRI, CRS
2011 & 2014 Realtor of the Year
Phone (970) 731-4065
Fax (970) 731-4068
Cell (970) 946-3856
Email: [email protected]
