The snow is melting fast up in the high country. Rafting, golfing, and fishing are what’s happening in the great outdoors. Of these three activities, I enjoy fishing, and I’ve been out several times this year. I put my ten-foot aluminum boat onto Echo Lake a couple of times, and I was on Lake Pagosa just last Saturday. Fishing has been good. I have to be off the water by noon, because the winds pick up in the afternoon and they play havoc with my little boat. I have also fished the Navajo River, where I caught an 18” Rainbow Trout. That was a blast! I mainly catch-and-release, unless I hurt the fish too bad, and then they become dinner.
We’ve had a few showers over the last week, but not enough to help the drought. No fires so far, but we’ll have to keep our fingers crossed. We are supposed to get moisture over the next several days, and we are very thankful. Snowpack in the mountains is down to 15% of median, and temperatures are supposed to be in the 70’s next week.
There are not a lot of big happenings around town. Short-term rental regulations are being debated as we speak. Where to put the next jail is in limbo. Expansion of our school system is also being discussed. We’ve had a few restaurants close around town and a new crop of restaurants open to replace them which is par for the course this time of year. But there’s nothing earth-shattering happening around town to worry about.
Now for the latest real estate news. Year-to-date overall sales are down 10% compared to last year. This was expected since pending sales were way down last month. At the beginning of April, we had 100 properties under contract compared to 148 at the same time in April 2017. Currently, we’re up to 126 pending sales, but we’re still below the pace set in 2017. Total residential sales, which includes mobile homes, condos, and stick-built homes, are down 18% compared to last year. Land sales are up 5%, but they were up by 17% last month.
I’ve been busy showing homes, but more often than not, buyers are unsatisfied with the current inventory available. They are waiting to see what crops up over the next month, which is normal. We should have quite a few new listings hit the market over the next 30 days or so.
In the meantime, interest rates are rising little by little. The current rate for a 30-year fixed-rate mortgage is 4.75% and a 15-year is 4.25%. Even though we are starting off a little slower than last year, I am optimistic that things will pick up and we’ll have a good year. The one wild card out there is fire season; not only here, but in New Mexico and Arizona. There is already smoke in the air coming from Arizona.
I hope you have a great spring. Go smell the flowers!
GRI, CRS
2011 & 2014 Realtor of the Year
Phone (970) 731-4065
Fax (970) 731-4068
Cell (970) 946-3856
Email: [email protected]
