Durango, CO Real Estate News

By Charles & Mary Rigby
(RE/MAX Pinnacle)
SLOWDOWN: The first quarter statistics are out from the Durango Area Association of Realtors and sales were down. The total number of home sales within the city limits was down 45% compared to the same period in 2007 while the number of sales of homes in the county was 24% lower. The median price of homes in Durango slipped 5%.While the national housing slowdown is do doubt affecting our market it is important to remember that we have just come through one heck of a winter. We had several buyers wanting to come into town and just couldn't get here. We encouraged them to wait until the snow clears and now we're as busy as ever.Anyone thinking of purchasing in the Durango area should do it now.http://durangorealestate.biz/http://homesindurango.com/ 
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
MELTDOWN: Downtown Durango will have a familiar sound as the 14th annual Bluegrass Meltdown kicks off today. Bluegrass music seems to be synonymous with mountain towns. We have several local groups that play bluegrass and even more that tour through the area. Blue grass music is fun, energetic and dynamic. Our annual meltdown is a celebration of the coming of spring with great music, food, beverages and good times.This year's festival features two-time Grammy Award winner Jim Lauderdale and three-time Bluegrass Music Award winners, the Infamous Stringdusters. Scheduled performances are held at the Strater Theater, Abby Theater and the Elks Lodge.The best part of the meltdown, however, is you never know where or when an impromptu jam session will pop up. Restaurants, street corners or pa...
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
TIS' THE SEASON: As spring approaches we need to be reminded that warmer weather also brings back our old friend, the black bear. Even thought it's early in the season we had our first reported bear sighting last weekend. So, let's review living with the bear.Black bears tend to frequent the Durango area when they come out of hibernation in the spring and in early August as they start packing on fat for their winter hibernation. Although they're here for their natural foods such as berries, oak acorns, plants, vegetation and the like, they've also found that we humans provide them with a food bounty of our own - be it bird seed, fruit, pet food, barbecue grill scraps and trash. Normally shy and secretive in the wild, bears have an amazing sense of smell and have learned to associate hum...
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
EARTH DAY: Capping of Earth Day week, the city of Durango, in partnership with San Juan Basin Recycling Association, will offer a two -day recycle collection event for computers and additional electronics Friday, April 25 and Saturday, April 26, 9 a.m. to 3 p.m. at the Durango Recycling Center, 710 Tech Center Drive.Nominal fees are associated with some items such as televisions and computer monitors. Items such as keyboards, cables, cell phones, printer cartridges and cell phone batteries will be recycled free of charge.For additional information, contact the recycling division at 970-375-4831http://homesindurango.com/http://durangorealestate.biz/
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
VALUE: CNN carried an interview with a Orange County individual regarding the economic and housing problems in southern California. People are out of work, foreclosures are up in Orange County as they are in many other areas of the country. One statement in the interview stood out. He said, "I can't sell my home for what it's worth."It's funny that homeowners have no trouble adjusting their value opinion when prices are increasing but in a declining market refuse to recognize value decreases. Market value is the price at which a seller is willing to sell and the price at which a buyer is willing to buy. While often a bitter pill, failure to recognize and accept true market is a mistake most seller's can't afford to make.http://homesindurango.com/http://durangorealestate.biz/
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
THE CELEBRATION OF SPRING: Spring is a season of the year we look for all winter. It's a time when nature renews herself. Dry seeds shake their husks and send their green antenna into the air. Much of the poetry of spring is couched in rural settings, because that is where spring calls out on all sides. Yet the great mass of people today are living in a world of concrete jungles, smooth and twisting freeways, screeching brakes and clanging fenders. Much of what thrilled Grandfather in the spring of the year goes unnoticed today. The robin on the spring lawn, the daffodils pushing up sometimes through a crust of snow. But the spirit of spring is still alive and will ever remain as long as man is in a climate of changing seasons.Some years ago, the Boston Globe wrote a little story relate...
Comments 1
By Charles & Mary Rigby
(RE/MAX Pinnacle)
GOOD NEWS FOR BUYERS: Both conforming loan limits and FHA loan limits have been raised in La Plata County to $443,750. This is in effect until December 31, 2008. These higher limits will enable buyers to obtain a higher loan amount without having to pay the increased interest rate that a non-conforming loan commands. Today the interest rate rate for both conforming and FHA loans is under 6%, a historically low rate of interest. Buyers can obtain conventional loans with as little as 5% down and a FHA loan with just 3% down. This low interest rate, coupled with the rise in the conforming loan amount, should set the stage for a return of consumer confidence and put a buyer in an excellent position to be buying a home.It is virtually impossible to time a real estate market; to know when the...
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
FUND RAISER: The weather was terrific and roughly 1,000 people turned out for our Fire Disaster Fund benefit. With the help of local restaurants, merchants and businesses we smoked and served about 50 briskets. Local fire fighters and Mercy Hospital nurses pitched in. It was a fun, yet very moving, afternoon and reminded us of what makes Durango such a special place to live. Over $4,000 was added to the Disaster Relief Fund.Thank you Durango!http://homesindurango.com/http://durangorealestate.biz/
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
BENEFIT: We have been approved by the city to hold a benefit for the victims of the Main Avenue fire. Friday, March 21st, from 3:00 pm to 5:00 pm the 700 block of Main avenue will be closed.Local merchants and restaurants have donated cash and food for the event. Jim McVean & I will have our smokers going (we've got 60 briskets to cook and serve.) Ralph Dinosaur and his band will entertain.Lots of food - lots of fun! All donations and proceeds will go the the Fire Relief Fund. Come support us.http://homesindurango.com/http://durangorealestate.biz/
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
WHY REAL ESTATE? Every day we here about the down housing market, the slumping economy and Wall Street losses. There's no argument that housing nationwide has been going through a down cycle. But there's also little doubt about the housing market's long term prospects.The United States is adding one person every 13 seconds. At the start of 2008, the country had surpassed 303 million residents, almost 3 million more than it had at the start of 2003, according to the Census Bureau. This strong growth is a good sign for the future of the housing market and real estate in general. Lawrence Yun, Chief Economist for the National Association of Realtors says, " With a population increase of 3 million, household formation typically expands by up to 1.5 million."It's easy to recognise the long t...
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
THE SPIRIT OF DURANGO! A week ago, a huge fire erupted in the 700 block of downtown completely destroying Season's Grill, Le Rendezvous Swiss Bakery and 1/2 Price Tees. Nine firefighters were injured in the fight and the community, of course, has supported and applauded their efforts.One fact that would have been overlooked in most places (but not in Durango) is that, with the loss of three very successful businesses, roughly 70 employees of these establishments are out of work. Several area restaurants have added staff to help out but the most impressive action has come from the Durango Business Improvement District. The embers were still smouldering when this organization of business leaders established a fund to assist those left unemployed by the fire. In just a week the fund has gr...
Comments 0
By Marlene Gebhardt, CNE, Durango Colorado Real Estate
(Horizon Properties of Durango)
After hearing all the doom and gloom about the national real estate market, I was curious enough to look into our local market statistics.  Thus far, we in the Durango area, are still selling property of all types. A quick look at year to date tells me that nearly 50% of properties sold were under $300,000 and about 25% were above $500,000.  Commercial opportunities were just about 4% of those sold, while many residential units sold were condos. We've had a snowy winter, and lots of people visiting our local ski resort, Purgatory, have contributed to  condo sales at the resort itself. But our market also has a good supply of lower-priced units in town Durango now, and these seem to be actively selling. While no one knows how much impact the new Federal loan regulations will have over th...
Comments 1
By Charles & Mary Rigby
(RE/MAX Pinnacle)
WINGS OVER DURANGO! Frontier Airlines announced Thursday it will expand service to eight cities across the Rockies - including Durango!The flights will start in April and May using turboprop aircraft from its Lynx Aviation subsidiary and regional jets operated by Republic Air, both of which are more efficient and economical on shorter trips.Ron Dent, aviation director of the Durango-La Plata County Airport, said Frontier's arrival could spur a 50 percent reduction in fares. "Sometimes, we do not have enough seats to Denver," Dent said. "Frontier's arrival will generate a lot of new traffic and will cement Durango as the air transporation hub of the Four Corners."Frontier's goal is to drive more traffic to its hub at Denver International Airport, which we Durangoans currently access thro...
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
One thing you learn about living in Durango --- KEEP YOUR CAMERA HANDY!
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
IT'S SNOWDOWN! Today begins Snowdown, Durango's crazy celebration of winter. With this years theme of "Ye Olde Snowdown" expect to see the streets and castles of Durango packed with Lords, Miladies, vassals, serfs and knaves.The next 5 days will be filled with over 60 contests, events, gatherings and silly entertainments for everyone's merry making pleasure.Highlights of the week include the Snowdown Follies, a very adult spoof of everything and everyone important and Friday's Snowdown Light Parade down Main Avenue.Saturday, Mary & I together with Re/Max host the Snowdown Chili Cookoff. Contestants will vie for cash and trophies and Red, Green and Vegetarian Chili and Salsa. All four of the local micro-brewers will be there and the Hillstompers band from Alamosa with enteratain (they're...
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
COMMON SENSE PREVAILS (SO FAR)! The Historic Preservation Board became the latest group to weigh in on the future of Durango's sidewalks. Its decision was no different than that reflected by recent public opinion: If it's not broke, don't fix it.The City of Durango contracted Walzak Design Resources in May to provide design options for city sidewalks. The design options created by Walzak ranged from making property owners pay for sidewalk upgrades as needed to a complete overhaul of Main Avenue that would entail reducing traffic lanes from 4 to 3 and widening the sidewalks.It appears at this point that the movement to drastically alter the look of our historic downtown is dying a slow death. Durango is unique - let's keep it that way.http://homesindurango.com/http://durangorealestate.biz/
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
WHAT A START! So far January has been quite a wonderful hand full. We've had terrific snowfalls. Purgatory is up to a 76" base and the skiing is fabulous. With the construction of the new lodge and condominiums underway its a little difficult to get around but worth it. There's nothing more beautiful than the snow covered San Juans shining in brilliant sunlight backed by a pure blue sky.We have had buyers in town nearly every day. Our Internet property inquiries and emails are surprisingly strong for this early in the year. We believe our market will continue to be vibrant and strong. People are seeking refuge from city congestion, crime and confusion.You can be a part of our community. Give us call if we can help. We'll get back to you the minute we get off the slopes.http://homesindur...
Comments 0
By Marlene Gebhardt, CNE, Durango Colorado Real Estate
(Horizon Properties of Durango)
Durango, Colorado's premier winter celebration turns 30 this year. Every January, we put away the holiday lights and start getting ready for SNOWDOWN. Born as a way to "promote fun, commerce and tourism" in the heart of winter, SNOWDOWN is a 5-day festival of wacky events hosted by businesses and groups throughout the community. Wednesday, Jan. 30 kicks off SNOWDOWN 2008 with the wildly funny "Dos and Dont's Fashion Show". The idea for the Show was born when USA Today mentioned that Durango was one of the "worst -dressed" towns in the country. A spoof on all things, the show is a sell-out and one of the funniest SNOWDOWN events. Over 60 events take place over the next 5 days.  The hottest SNOWDOWN ticket is the FOLLIES (see www.snowdownfollies.org.) which involves over 100 locals spoofi...
Comments 1
By Charles & Mary Rigby
(RE/MAX Pinnacle)
WESTWARD HO': CNN.com did a piece on "Why the West is Booming" commenting on an issue we've seen first hand for several years.Demographers say thousands of Baby Boomers are saying 'no thanks' to the warmth of Florida and Arizona and heading to the Rocky Mountain West.They're drawn by low crime, fresh air, little traffic and abundant outdoor activities. Although people of all ages like these things, older people tend to be flexible enough in their careers, families and finances to finally kick up their boots on the porch rail.A significant percentage of our clients are 55+. Southwest Colorado in general and Durango in particular have exactly what they are looking for. Four fantastic seasons, brilliant blue skies, clean air and lots of friendly people.http://homesindurango.com/http://dura...
Comments 0
By Charles & Mary Rigby
(RE/MAX Pinnacle)
A $3 MILLION CONDO? In Breckenridge One Ski Hill Place, a 90 unit development at the base of Peak 8, is about to raise the bar for luxury.The first 15 of the 90 units will be released December 8 with the asking price of the first four penthouses of $2.67 million. The price per square foot will range from $963 to $1,385.We were in Breckenridge last August and with all due respect to the fine citizens of Breckenridge - ARE YOU NUTS?Breckenridge is crowded, over built and bumper to bumper traffic. Plus, the Ski Area Citizen's Coalition in its annual environmental scorecard gave the ski area an "F."Our little corner of Colorado may not have the glitz of the Aspens, Steamboats, Snowmasses and Breckenridges but we wouldn't trade our little western town and open spaces for any of them.http://h...
Comments 0