DURANGO'S COOL!

MORE ON WATER: In our previous posts we have talked about water rights and the delivery of water by direct diversion from the river or via irrigation ditches managed by ditch companies. This is "adjudicated water," i.e. water rights that have been established by the Water Court. Adjudicated water...

REVERSE 1031 EXCHANGE: The IRS code also provides for a "reverse exchange." As a matter of fact, Mary & I are in the middle of a reverse 1031 exchange at the present time. The basics are the same as a regular 1031 except in a reverse the individual acquires the new property up front. From the day...

TAX DEFERRED EXCHANGES: Internal Revenue Code Section 1031 states:"No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for product...

TITLE INSURANCE: Having spent over 20 years in the title business this article caught my eye. According to a 2005 member survey by the American Land Title Association (ALTA), title problems were found in 36 percent of all residential real estate transactions (new and resale homes and refinances),...

WATER RIGHTS: We find that one of the most confusing things for newcomers to our area to grasp is Colorado water law. Since the 1860s, The Colorado Doctrine has defined the four essential principles of Colorado water law:1. All surface and ground water in Colorado is a public resource for benefic...

WATER FACTS: Approximately 66% of the annual water flows from the Colorado watershed occurs during the late spring/early summer runoff. These water flows cannot be fully utilized by Colorado agriculture, communities and residents unless they are stored in reservoirs. Vallecito, Lemon, McPhee and ...

VACATION HOMES: Last year, while investment home sales dropped nationally, vacation home sales rose nearly 5 percent at a time when real estate, in general, was experiencing a downturn.By 2025, an estimated 35 percent of the U.S. population will be age 50 or older. That's one of the reasons why a...

BANKING: They say money makes the world go round. In Durango, banks - the ultimate money keepers - both reflect and help drive the local economy.As Durango grows in population and wealth, the local banking industry is growing along with it. La Plata County has 10 banks with 19 branches. Their com...

LPEA REFUNDS: The board of directors of La Plata Electric Association, our local energy co-op, voted to refund $2 million in capital credits to customers who have maintained an account with LPEA for at least one year. The amount of the refund will depend on the amount of money each customer has p...

WATER: If the sight of a lawn sprinkler dousing curbs and sidewalks on a hot summer afternoon strikes you as wasteful, you're not alone.The City of Durango wants to reduce the amount of water wasted during the summer months by 20 percent, and an ordinance to make sure that happens is imminent. Th...