Hello From Pagosa Country!
The world has changed a lot in the past month, but even with all the bad news, there have been plenty of positives. There is a lot more empathy in the world now, and most people want to help their neighbors in need. A smile or a wave of the hand to a friend or stranger goes a long way. Our improved hygiene – from washing our hands for 20 seconds to covering our mouths when we cough or sneeze – will become a new habit. Families are more connected. Parents are having to get more involved with their children’s education now that kids are at home.
A lot of honey-do lists are finally being tackled which (by the way) is a good way to build some sweat equity in your home. Here are just a few of the projects you might consider taking on: landscaping, cleaning the garage, painting, decluttering, spring cleaning, deep cleaning, and certain remodeling jobs. All these projects will bear fruit and increase your property value.
For the first time in a very long time, Congress is working together in a bipartisan manner. Can you imagine what our country would be like if they continued to do what’s best even after the crisis has passed? It might seem like we were again the UNITED States of America.
Limit the amount of news you watch. Personally, I prefer watching chick-flicks and sitcoms. Don’t forget to exercise. Get outside as much as you can, but still maintain the social distance required to stay safe.
There are many ways you can help. Don’t wait for someone else to take the lead. Start thinking outside the box. Just do something. There are a lot of charities that need help if you are able to chip in, but make sure to do your due diligence before you open your wallet.
I know a couple of local charities that could certainly use a little extra help during this time of crisis. First, the food pantry at the Methodist Church is running low on food due to increased demand. If you’d like to donate non-perishable food, you can deliver it directly to the church Monday through Thursday mornings.
Second, the local Humane Society has had to temporarily close their thrift store in order to protect public safety. The thrift store provides critical funding for the remainder of the organization, including the animal shelter, so they could certainly use some extra support during this crisis. For more information or to make a donation, you can visit their website at HumaneSocietyOfPagosaSprings.org.
Just a reminder – you become what you think about most. Think positive. The glass is half full.
Now for the latest real estate news. For the first quarter, the real estate market has been quite strong. My business has been excellent. Total sales are up 18%, home sales are up 29%, and condo sales are up a whopping 138%. Land sales are down 11%. These numbers represent the past. Pending sales were way up last month, but have taken a nosedive since then. Forecasting the future is always difficult, especially now, but my crystal ball says the second quarter will be rough. Sales will be soft, prices will come down a little, and the number of showings will be way down.
On the bright side, interest rates are unbelievably low due to recent action by the Federal Reserve. Today you can get a 30-year fixed-rate mortgage at 3.375% and a 15-year at 2.625%. If you’re qualified, now could be a good time to refinance. Keep in mind that lenders are going to be more selective in who they loan to. Too many buyers are looking for too little money. You will need a better credit score than you would have 30 days ago.
For those who have the means, there will be some buying opportunities. I do expect the second half of the year to be robust with pent-up demand. One other factor in our local market, which will keep prices from free-falling, is we have such low inventory, especially in the lower price brackets.
Realtors are also doing business in a different way than we’re all used to. We are currently coming up with new standard protocols that we expect local real estate offices will adhere to. Our most important goal is safety for everyone involved. For example, you’ll no longer be riding with me in my car going to home showings. Instead, you’ll be following me in your own car. Wearing gloves and masks will become more fashionable. You won’t be allowed to touch anything inside the home, and everything will be sanitized.
So long for now. I wish you all well. A special thanks to all the medical personnel, first responders, and military doing a valiant job to protect our way of life. A big hooray for them!
GRI, CRS
2011 & 2014 Realtor of the Year
Phone (970) 731-4065
Fax (970) 731-4068
Cell (970) 946-3856
Email: [email protected]
