Phil Rides Across America – and Stops in Pagosa!
		Jim Smith
		March 27, 2009

From The Pagosa Springs TTC web site.

Phil Keoghan, host of CBS’s The Amazing Race, is cycling across America to raise awareness and funds for the National Multiple Sclerosis Society – and also promote health, wellness and a greener America!

This cross-country cycling journey will begin in Los Angeles on March 28th and end in New York 40 days later; it’s a ride that is averaging 100 miles per day for a total of over 3,500 miles – and he’s riding through Pagosa Springs!

Phil will be traveling with a camera crew to document the entire ride and CBS will be coordinating extensive daily coverage at every stop. This event will provide an excellent opportunity to showcase Pagosa Springs to a national audience and we have a lot planned to celebrate.

		Mortgage Rates Hit New Low This Week
		Jim Smith

From Inman News
Mortgage rates hit new lows this week in response to the Federal Reserve’s announcement that it will make big purchases of Treasurys and mortgage-backed securities, Freddie Mac said in releasing the results of its weekly rate survey.

The 30-year fixed-rate mortgage averaged 4.85 percent with an average of 0.7 point for the week ending March 26, down from 4.98 percent a week ago and 5.85 percent a year ago. The rate has never been lower since Freddie Mac began its survey in 1971. Read More...

		Pagosa Springs – Fred Harman Art Museum
		Jim Smith
		March 26, 2009

I found this fascinating quote today:

There is another museum in the area, with an unusual collection in dedication to a cartoonist. The Fred Harman Art Museum exhibits original sketches and paintings and other memorabilia of the creator of Red Ryder and Little Beaver, which appeared in the Chicago Sun newspaper. The museum also shows examples of Harman’s fine art output in oils, bronzes and pen and ink drawings with western subjects.ArticlesDeluxe.com, Mar 2009

You should read the whole article.

		Pagosa Nordic Club Full Moon Ski-in
		Jim Smith
		February 10, 2009

Pagosa Springs Colorado is the land of adventure in every season.

Find many more videos of the Pagosa Springs Area and its recreational opportunities at www.pagosa.com.

		Pagosa Springs Property Owner Resources
		Jim Smith
		February 7, 2009

If you own property in the Pagosa Springs area, I invite you to visit www.Pagosadata.com. This is one of the more popular websites for those looking for Property tax and sales information for Archuleta County properties. We want it to be much more and are planning some upgrades and addition information. So if you have an opinion as to what you would like to see available on that website, I would like to hear it. You can either comment here or email me at JimSmith@JimSmithRealty.com.

For those that would like to see a visual map view of the area, go to our County Interactive Map where you can see every platted parcel in the county along with Property and Sales Data. We have also integrated the IDX Feed from the local MLS so you can see every property that is available for sale. Very cool!

Local up-to-date info about Pagosa Springs can be found at www.Pagosa.com as well as many links to interesting and useful websites. A nearly complete list of our websites can be found at our PagosaCountry.com site. Our main real estate site is www.JimSmithRealty.com.

		NAR Backs the Expansion of Buyer’s Tax Credit
		Jim Smith

Pushing for passage of a massive, $800 billion-plus stimulus bill, President Obama today said, “It is inexcusable and irresponsible for any of us to get bogged down in distraction, delay or politics as usual while millions of Americans are being put out of work. Now is the time for Congress to act.”

A $15,000 tax credit that was added as an amendment (by U.S. Sen. Johnny Isakson, R-Ga.) to the stimulus package Wednesday is popular with homebuilders, The Wall Street Journal reports, but adds about $35 billion to the cost of the stimulus plan.

The Washington Post reports that a bipartisan group of about 20 moderate senators was “trying to hammer out a compromise that would attract more Republican support by cutting roughly $100 billion from the bill.”

Senate Majority Leader Harry M. Reid, D-Nev., has expressed optimism that a vote will be held today on the spending plan.

The tax credit, as initially proposed, could be used only in the purchase of primary residences and there is no repayment requirement (unlike the $7,500 tax credit passed last year, which did have a repayment requirement), according to reports. And the actual amount of the tax credit proposal would be $15,000 or 10 percent, whichever is less.

From Inman News

		Government Moving Fast Toward Housing Bailout
		Jim Smith
		February 5, 2009

I am sure most have been hearing more than they would like to hear about the nearly 1 Trillion Dollar “stimulus” bill. Sure there is a lot of pork and payoffs that I hope will be taken out. But what is important to the real estate industry and homeowners everywhere is the portion that will address the problems in the housing market.

Those problems are:  1) too many homes on the market. The inventory is way to high to create any urgency or confidence that home values will stabilize and begin to rise again.  2) not enough credit. People need to be able to get mortgages in order to buy.  3) People need to feel that we are at the bottom. Everyone wants to buy low and sell high. Right now we have probably millions of folks sitting on the sidelines waiting for the bottom of the housing market. 4) People are worried about their job or income. People need to be able to see the light at the end of this recession tunnel before they step out and buy. 5) Folks need to sell their existing home before they can buy a new one.

So the government is trying to solve these objections buy 1) giving home buyers up to a $15,000 Tax Credit that will basically put tax payer’s money back in their pocket. 2) Putting pressure on so the mortgage rate get even lower. 3) Stimulate the economy so people will quit losing their jobs and job creation will begin.

Think of it – the government is basically going to pay you up to $15,000 to buy a home. Personally I believe this will be the beginning of a resurgence of home buying. So get your finances in order and get with your Realtor and find that home you have been waiting to buy.

		Beautiful Days in Pagosa Springs
		Jim Smith
		February 2, 2009

Well, after a really intense December with lots and lots of snow, we have been enjoying a pretty mild January and now February. Sunny Skies makes the heart warm and light in the winter. There are so many recreational opportunities right now to get out and do some snow shoeing and cross country skiing. Check out www.pagosa.com for ongoing stories of folks enjoying winter sports of all kinds.

Real estate in Pagosa is showing signs of life. Many are taking advantage of the low interest rates and some real good values to make offers to purchase real estate. Personally I am very optomistic about 2009. I hear all the bad news too, but people can only put their lives on hold for so long. There is a pent up demand to buy resort and retirement properties.  The dam that holds that back can not hold forever or in my opinon even much longer.  There are lots of people that want to retire to the Rocky Mountain Region and Pagosa Springs in particular. This is a great time for those that can make the move – to buy in at lower prices.

Jim Smith

		Existing-Home Sales Show Surprising Gain
		Jim Smith
		February 1, 2009

Existing-Home Sales Show Surprising Gain

Existing-home sales rose unexpectedly while
inventory declined, led by a surge of sales in the West, according to
the National Association of Realtors®.

Existing-home sales – including
single-family, townhomes, condominiums and co-ops – jumped 6.5 percent
to a seasonally adjusted annual rate
of 4.74 million units in December. The number compares to a downwardly
revised pace of 4.45 million units in November, but 3.5 percent below
the 4.91 million-unit pace in December 2007.

For all of 2008, there were about 4.9
million existing-home sales — 13.1 percent below the 5.65 million
transactions recorded in 2007. This is the lowest volume since 1997
when there were 4,371,000 sales.

Lawrence Yun, NAR chief economist, said home prices continue to fall significantly.

“It appears some buyers are taking
advantage of much lower home prices,” he said. “The higher monthly
sales gain and falling inventory are steps in the right direction, but
the market is still far from normal balanced conditions. Buyers will
continue to have an edge over sellers for the foreseeable future.”

Total housing inventory at the end of
December fell 11.7 percent to 3.68 million existing homes available for
sale, which represents a 9.3-month supply at the current sales pace, down from a 11.2-month supply in November.

Yun said the market is underperforming and hurting the broader economy.

“We’ve added 25 million people to our
population over the past decade and housing affordability conditions
are the best we’ve seen since 1973, but household formation is much
lower than expected,” he said. “Consequently, there is a pent-up demand
which could be unleashed with the right stimulus, including a
non-repayable home buyer tax credit. The Obama administration and
Congress need to move fast to stimulate a spring sales upturn which
will help to stabilize home prices and set the foundation for a
sustainable economic recovery.”

Housing Stats

National median existing-home price: (for
all housing types) was $175,400 in December, which is 15.3 percent
below December 2007 when the median was $207,000. There remains a
significant downward distortion in the current median from a large
number of distress sales at discounted prices, currently 45 percent of
transactions; the median is where half of the homes sold for more and
half sold for less. For all of 2008, the median price was $198,600,
down 9.3 percent from $219,000 in 2007.

Single-family home sales:
rose 7 percent to a seasonally adjusted annual rate of 4.26 million in
December from a level of 3.98 million in November, but are 1.4 percent
below a 4.32 million-unit pace in December 2007. For all of 2008,
single-family sales fell 11.9 percent to 4,349,000.

Median existing single-family home price:
dropped to $174,700 in December, down 14.8 percent from a year ago. For
all of 2008, the single-family median was $197,100, which is 9.5
percent below 2007.

Existing condominium and co-op sales:
increased 2.1 percent to a seasonally adjusted annual rate of 480,000
units in December from 470,000 in November, but are 18.4 percent below
the 588,000-unit level a year ago. For all of 2008, condo sales dropped
21.0 percent to 563,000 units.

Median existing condo price:
slipped to $181,400 in December, down 18.3 percent from December 2007.
For all of 2008, the median condo price was $210,000, which is 7.2
percent below 2007.

Existing-Home Sales By Region

• Northeast:
  slipped 1.4 percent to an annual pace of 720,000 in December, and are
  14.3 percent below December 2007. The median price in the Northeast was
  $235,000, which is 7.8 percent lower than a year ago.

• Midwest:
  increased 4.0 percent in December to a level of 1.04 million but are
  10.3 percent below a year ago. The median price in the Midwest was
  $140,800, down 11.4 percent from December 2007.

• South:
  rose 7.4 percent to an annual pace of 1.74 million in December, but are
  11.2 percent lower than December 2007. The median price in the South
  was $158,600, which is down 8 percent from a year ago.

• West:
  jumped 13.6 percent to an annual rate of 1.25 million in December and
  are 31.6 percent higher than a year ago. The median price in the West
  was $213,100, down 31.5 percent from December 2007.

A Good Time to Buy

NAR President Charles McMillan said it’s an excellent time for first-time home buyers with good jobs.

“The typical buyer plans to stay in their
home for 10 years, which is the correct approach in today’s market,” he
said. “With historically low mortgage interest rates, flexible sellers,
a large inventory, and homes that are selling for less than replacement
construction costs in much of the country, buyers who’ve been on the
fence should take a closer look at today’s market.”

McMillan added that first-time buyers may
want to consider an FHA loan, which offers downpayments of 3.5 percent
on a safe 30-year fixed-rate mortgage.

According to Freddie Mac, the national
average commitment rate for a 30-year, conventional, fixed-rate
mortgage fell to 5.29 percent in December from 6.09 percent in
November; the rate was 6.10 percent in December 2007. Last week,
Freddie Mac reported the 30-year rate was 5.12 percent.

Source: NAR

		Trail Stories: Full Moon Ski Party Story – Norm Vance Video 2
		Jim Smith
		January 8, 2009

Norm has been grooming the back country cross country ski trails for about 15 years. He is one of our local celebrities who has been a promoter of the Pagosa Springs area for over 20 years. He is currently also the writer/editor of the Pagosa Journal found at www.Pagosa.com. This is a story about a Full Moon Ski Party that was aborted as a result of severe weather. Interesting story.

Find many more videos of the Pagosa Springs Area and its recreational opportunities at http://www.pagosa.com/pagosa_video.php.

		Grooming the Cross County Ski Trails – Norm Vance
		Jim Smith
		January 7, 2009

Norm has been grooming the back country cross country ski trails for about 15 years. He is one of our local celebrities who has been a promoter of the Pagosa Springs area for over 20 years. He is currently also the writer/editor of the Pagosa Journal found at www.Pagosa.com.

		Pagosa Springs and Unrealistic Expections???
		Jim Smith
		January 3, 2009

VISITOR COMMENT:

I hunted every year from 1975 to 1993 just south of Pagosa, camping near Buckle’s Lake above Chromo. Sometimes staying in Harvey’s Motel. My intention was to come to Pagosa Springs upon retiring, buy a cabin, & live out my days. I came to town last summer to look for a place & was quite surprised! I’m sure the land speculators & Real Estaters have done well, but the charm is gone. Sorry, too crowded & I’ll look to spend my days elsewhere. Not for me anymore.
Joe

ANSWER:

I can relate to Joe’s frustration a little. Joe evidently had not visited Pagosa Springs in about 15 years. While the rest of the country was growing and expanding, Joe must have thought that Pagosa would just stay the way he remembered it. Small, quaint, funky, etc. But while the rest of the country was growing, more and more retirees like Joe began to settle in the Pagosa area.  They bought property and built their dream homes. Along with the incoming retirees, came the builders and sub contractors to build those dream homes. Our population grew from about 5,000 population in 1977 (when I moved here) to about 12,000 today (county wide). Along with the people came a bigger grocery store, more really nice restaurants, and a lot of other shops and stores. Back in the “Good Old Days” Pagosa’s residents had to drive to Durango or Farmington for almost everything. We usually made a monthly trip to stock up on groceries and everything else we needed. Now, most of what our residents need is available locally. I remember when there was only one really “nice” evening restaurant (Old Miners Steak House) to go to for a fine dining experience. Now there are a number of really nice restaurants for fine dining – either for breakfast, lunch or diner.

So is the charm gone? Pagosa Springs may used to have been “charming” – but it was also pretty boring and very hard to make a living in. Now it is more prosperous and fun and convenient – maybe a little less charming and quaint. But I have lived here for over 31 years. There is still a lot of charm I think and it is not quite so boring as 30 years ago. Progress is happening everywhere and the sometimes the unrealistic expectations of would be “settlers” of the Pagosa Springs area clash with that progress. However, I would like to remind the critics of progress that we are still a very small town and sparsely populated county surrounded by some of the most beautiful country anywhere. 2.5 million acres of National Forest surround us and a quarter million acre Wilderness Area is right out our back door full of adventure. I remember telling many of my customers that this is Huckleberry Finn country. You can do just about anything here from back packing to day hiking, from driving the many forest roads to 4 wheeling the back country, from fishing to hunting, from skiing to relaxing in the elegant Pagosa hot springs. Adventure! That’s still Pagosa. It is easy to leave the crowded highway and find solitude and adventure just 15 minutes from downtown Pagosa Springs. What more could you want? I guess that is why people moved here.

Have a Great New Year,

Jim Smith

Owner Jim Smith Realty – Pagosa’s Oldest and Largest Real Estate Firm

		What Do Our Visitors Think About Pagosa Springs – Part 6
		Jim Smith
		January 2, 2009

The Pagosa Springs Visitor Center actively solicits feedback from those that visit our area. Here are a few unedited comments from our visitors. This is the 6th and last installment of visitor comments. Pagosa Springs may be a little out of the way and “funky” for some. We are a small resort and retirement community with a lot for the adventurer. Pagosa Springs really is not an Aspen, Telluride, or Vail. But we love visitors and tourists all the same. The Town Tourism Committee and the Chamber of Commerce are actively trying to make your next visit to Pagosa Springs more interesting and pleasant.

		Want to Know What People Say About Pagosa Springs? Visitor’s Comments – Part 5
		Jim Smith
		January 1, 2009

The Pagosa Springs Visitor Center actively solicits feedback from those that visit our area. Here are a few unedited comments from our visitors. This is the 5th installment of visitor comments. Pagosa Springs may be a little out of the way and “funky” for some. We are a small resort and retirement community with a lot for the adventurer. Pagosa Springs really is not an Aspen, Telluride, or Vail. But we love visitors and tourists all the same. The Town Tourism Committee and the Chamber of Commerce are actively trying to make your next visit to Pagosa Springs more interesting and pleasant.

		Want to Know What People Say About Pagosa Springs? Visitor’s Comments – Part 4
		Jim Smith
		December 23, 2008

The Pagosa Springs Visitor Center actively solicits feedback from those that visit our area. Here are a few unedited comments from our visitors. This is the 4th installment of visitor comments. Pagosa Springs may be a little out of the way and “funky” for some. We are a small resort and retirement community with a lot for the adventurer. Pagosa Springs really is not an Aspen, Telluride, or Vail. But we love visitors and tourists all the same. The Town Tourism Committee and the Chamber of Commerce are actively trying to make your next visit to Pagosa Springs more interesting and pleasant.

		What Do Our Visitors Say About Pagosa Springs – Part 3
		Jim Smith
		December 10, 2008

The Pagosa Springs Visitor Center actively solicits comments from those that visit our area. Here are a few unedited comments from our visitors. Here is the 3rd installment of their comments. Pagosa Springs may be a little out of the way and “funky” for some. We are a small resort and retirement community with a lot for the adventurer. Pagosa Springs really is not an Aspen, Telluride, or Vail. But we love visitors and tourists all the same.

		What Do Our Visitors Say About Pagosa Springs – Part 2
		Jim Smith
		December 8, 2008

The Pagosa Springs Visitor Center actively solicits comments from those that visit our area. Here are a few unedited comments from our visitors. Here is the 2nd installment of their comments. Pagosa Springs may be a little out of the way and “funky” for some. We are a small resort and retirement community with a lot for the adventurer. Pagosa Springs really is not an Aspen, Telluride, or Vail. But we love visitors and tourists all the same.