There may be a pot of gold at the end of the rainbow after all.  After months of hearing nothing but bad to worse news concerning the real estate industry and the economy in general, we're finally receiving positive news that things are improving, with new home sales up across the nation. Click here to read such a report from REALTrends. 

Certainly, here in the Montrose area, we're seeing a lot more activity, especially for homes in the $200,000 and under range.  We're also seeing a greater number of short sales and foreclosures, which is spurring interest from investors and bargain hunters, although patience is definitely a virutue and a requirement to close any of these sales. 

For the seller, the good news is that if the property is priced right (i.e.,"competitively"), we have actually experienced a few bidding wars or multiple offers.  In general, a well-priced home in good condition with good curb appeal, that offers a quick close to the buyer who cannot wait, is selling.  

Of course, the best bargain that Montrose has to offer is the subperb quality of life.  It makes selling real estate in Montrose fun and gratifying, if not just yet easy.  Cheers from Montrose, and enjoy the rest of your summer!

~Ninah

I consider myself to be socially liberal and fiscally conservative.  I realize any universal health plan will come with a price tag, but I firmly believe we already pay a huge price under the current plan, which is no plan.  Most of us in the real estate industry are self-employed and are either without insurance, under-insured or pay dearly to be adequately insured, only to discover sometimes that we are not as protected as we believed.  If you want to know why we cannot rely on private, for-profit insurance companies to fulfill our health care needs, read Ken Gordon's blog post, Nothing Good Just Happens. 

Anyway, most of what I've recently heard in opposition to the proposed health care reform sounds more like hysterical hyperbole, political rhetoric, and fear mongering, not to mention just mean-spirited name calling.   I haven't been able to respond or debate the issue because of my lack of real knowledge about the proposed bill (House of Representatives Bill H.R. 3200) or alternatives.  So, I am now on a mission to study the various health care reform proposals so that I can engage in intelligent, reasoned discussion and debate on this extremely important issue and decide what I can and cannot support.  What I want, and what we all need, are the real facts and a rational, non-partisan analysis of any proposed health care plan. 

One great source I have discovered is PolitiFact.org, a project of the St. Petersburg Times, whose stated mission is to help us find the truth in American politics.  They fact-check statements by members of Congress, the White House, lobbyists and interest groups and rate them on their Truth-O-Meter. I checked the Truth-O-Meter on the subject of health care.   This confirmed for me that the assertions I've heard made by the opponents of health care reform are mostly false or misleading.  Some were found to be so outrageously false, they were given the "Pants on Fire" rating.  I found a good analysis and rebuttal of the anti-health reform arguments at Health Care for America Now web site.  Click here to read it.   Of course, the best source is the source itself, i.e., H.R. 3200, which, unlike some of our political leaders, we should all read.  I admit, 1017 pages is rather daunting, but I've at least saved it for now for ready reference whenever I receive something from here on out that references a section or page number in the Bill to support an argument or assertion.

Since I am a member of the National Association of REALTORS (NAR), I decided to check its site (www.realtor.org) to see what NAR was doing and saying about health care reform.  NAR has not yet taken a definitive position for or against the Bill, although it is seeking to ensure any reform addresses the needs of small businesses and the self-employed.  It is also urging lawmakers to pass the Small Business Health Options Plan Act and the CHOICE Act, and it opposes any effort to alter the mortgage interest deduction to help pay for health care reform.  NAR encourages all REALTORS to become active and to be heard.  To learn more, read VP Gary Thomas' blog post, Health Care Hot on the Hill and then check out and check regularly NAR's newly created Health Care Reform landing page.

Like NAR, I want to make sure that I have thoroughly researched and analyzed any proposed new legislation concerning national health care reform and then make myself be heard by my Congressional leaders.  I welcome your comments, opinions, analysis, debate and suggestions for additional resources for further research and education on this issue.  But please, can we avoid the partisan divisiveness?

~Ninah

I'm just having fun, now, but if you've heard, we've had a rash of summer thunder storms across Colorado. Yesterday, at home in Ridgway, one of the biggest downpours, with all the trimmings hit me at home. Here's a short video I took out my back yard (my first video upload)!

The 2nd annual Pickin' in the Park in Ridgway, CO is underway.  This is my first year attending, and what a fun event!  This is a free 4-concert series that combines musical acts from around the country with local and regional opening acts.  The music, of course, is the main event, and the 2 concerts I've been to so far have been fabulous.  Last Thursday, I especially enjoyed Carrie Rodriguez, a singer, songwriter, and fiddler from Austin, TX.  She's really more of a rocker who also plays guitar and electric mandolin with a fantastic backup band.  I was quite impressed that Ridgway could attract such a renowned artist.  And Carrie said that she was quite impressed with the "prettiest view from a stage" she'd ever seen.

The week before, I enjoyed the very unusual but very entertaining music of California based Fishtank Ensemble.  As described by Pickin' Productions, this quartet's music is rooted in gypsy jazz, featuring familiar and unfamiliar instruments played by colorful, energetic virtuosos.  I couldn't describe it better!

As great as the music is, equally, if not more entertaining, is just watching all the local folk (with a few tourists thrown in) and running into friends and neighbors.  Kids run around having fun with the costumes and hula hoops provided for their entertainment.  Every fathomable type of dog can be seen strolling or hanging out with its owner(s).  Food and beer vendors add to the entertainment.  Plenty of room in front of the stage allows for dancing.  And, of course, the venue in Ridgway's Town Park cannot be beat. 

Next up is a popular, local Bluegrass Band from Panoia, Sweet Sunny South with local picker, David Sneed opening the show.  If you're in the area, do come out and enjoy the music and fun.  It starts at 6:00 p.m. and goes till dark.  This will be the last of the 4 concerts in Ridgway, but 4 more concerts will be held in the Paonia Town Park starting in August.  Be sure to check out the Pickin' Productions' website for the line-up in Paonia.

A special thanks to our Ridgway Town leaders for bringing this free event to Ridgway with the help of Pickin' Productions and our local public radio stations KVNF, along with several other sponsors!  It's great to be a Ridgway resident.

I love blogging.  And I love reading other blogs, and commenting, and teaching about blogging and social networking.  I feel the power, the potential, and truly do enjoy the connection and the shared knowledge.  But I don't blog or read or comment enough, at least, not as much as I should or people tell me I should.  I compose blog posts in my mind and make mental notes of good subjects to write about.  And then ... poof!  It's all gone as I get derailed with distractions, and my topics are no longer timely or novel or something I'm motivated to write about.  I'm thankful for those of you who can do it--post often and timely.  And I hope no one will think less of me if I lurk, don't post comments, or write except every 3-4 weeks.

So, briefly, all's well on the Western Slope of Colorado.  Real Estate is picking up.  We're actually closing deals, although it takes a lot longer with greater effort, frustration, and not so much help from the lending industry.  For buyers, despite the challenges with financing, it truly, definitely, most assuredly is the best time to buy.  For sellers, not so bad here if you plan to buy something in replacement.  If you don't have to sell now but are thinking about it, it's a crap shoot.  You may be better off waiting.  But if you do, and the market picks up, then so will interest rates and others getting into the game (i.e., more sellers and inventory).  And I'm talking about the Montrose area, which may be quite different than nationally.  What will not change is that we in the Montrose, Colorado area have a most incredible place to live and work and play.  And I do love living, working, and playing here.

~Ninah

The 2009 15th Annual Partners Challenge Ride (and Weekend Get-Away) has been set this year for the weekend of September 26-27.   This 2-day, 104-mile mountain bike ride is truly challenging, but a lot of fun, traversing some of the most spectacular mountain terrain and scenery in the country.   It is not a race.  Riders are supported all along the way by volunteers who work at the aid/food stations, patrol the route with sag wagons, and provide bike mechanic services. Click here for more information about the event and course description from last year.  Below is a map of the course.

Partners of Delta, Montrose and Ouray is a 501(c)(3) non-profit organization that mentors children in our area.   Youth aged 6-17 are referred to the program and then screened and matched with a trained adult volunteer.  The pair make a commitment to spend at least three hours a week together for one year.  The staff of Partners supports this relationship with weekly contact, monthly recreational activities and educational workshops.  Another component of the program focuses on teenagers through Art Partners.  Youth aged 12-17 are matched with a professional artist or crafter in a supported 3-month mentoring apprenticeship.  Partners has been in existence in our area since 1987, providing a huge value to our youth.  Partners does not charge for its services, but rather, relies on volunteers and donations.  For a good newspaper article on Partners, click here.

I am proud that my company this year will be entering a corporate team, which will be made up of 5 riders, including myself.  In addition, the non-riders will be volunteering to work the ride and/or help us to raise funds for Partners.  Our goal as a team is to raise at least $1,500.  If you would like to help us meet our goal, we would truly appreciate your tax deductible donation in any amount.  Please make your check payable to Partners and mail or deliver it to my office at 1245 E. Main St., Montrose, CO  81401, Attn: Partners. 

Alternatively, if you'd like to take the challenge, register as an individual or corporate team to participate in the ride.  The fee for individuals is $300, and for a team, $1,300, limited to 5 riders.  You should be able to download the registration form soon from the Partners' website at www.Partners-West.org.  As of this post, it is not yet online, but should also be available soon through www.active.com.  Until then, feel free to call me, and I'll be happy to mail you a registration form.  The ride is limited to the first 100 riders, but there's no limit on donations!  I'll keep you posted as I find more online about this event, and also, about my training.  I rode one day in the event 2 years ago, which convinced me I needed a new bike and a lot more training!  I've got the new bike, and have started the training.

~Ninah

My agents, Kylee Smith & Betsy Spitzer on Partners' Ride 2007
coming down Owl Creek Pass, Chimney Rock in background

I was pleasantly surprised to see an upsurge in real estate activity, beginning in April.  I thought it might be just a fluke, but I'm happy to report, since then, we've been experiencing a steady flow and increase in activity, by which I mean more buyers are looking, more buyers are buying, and more sellers are listing.  I will admit, some of those listings have also been a result of an increase in foreclosures.  Of course, lending continues to be a big challenge, making it harder and longer to close deals, sometimes causing a transaction to fall out completely (as I experienced just last week).  Ah, sigh!  We will get through this!  So, buyers, don't get discouraged, and sellers, please be patient.  Basically, the financial institutions are dictating the closing date.  In general, I'm encouraged by what appears to be a combo of continued low interest rates, buyer incentives (i.e., the first time home buyer $8,000 tax credit), a boost in consumer confidence, and just the usual high, summer selling season. 

So, to give you a feel for our market, here are the following MLS residential sold statistics for May and 2009 year-to-date (as I obtained from our regional CREN MLS):

No. of Listings           Avg. Price          Median Price          Avg. Days on Market

YEAR-TO-DATE

MONTROSE COUNTY

146                         $210,516            $190,050               148

DELTA COUNTY

90                          $175,334           $165,000                 226

OURAY COUNTY

7                            $421,571           $272,000                 238

MAY 2009

MONTROSE COUNTY

39                          $205,463           $202,000                 152

DELTA COUNTY

27                          $174,070           $160,000                  209

OURAY COUNTY

2                            $277,000           $277,000                 319

Overall, we're down anywhere between 40-50% in sales volume over last year, but then we were down about the same last year relative to 2007.  However, values have remained fairly level, down in some sectors, and up in others.  County Assesors are scambling to explain why assessed values are up while recent real estate markets are down (see my earlier post on valuations).  In general, we're blessed on the Colorado Western Slope not to have experienced the huge pendulum swing downward as in other areas of the country.  What hasn't changed are our fantastic quality of life and beautiful climate and scenery.  Now is a great time for anyone to buy here, whether a first time homebuyer, retiree, second/vacation home buyer, or investor.

~Ninah

I must admit I was a bit skeptical the first time I was encouraged to attend a performance of the Montrose Magic Circle Players.  I love legitimate theater and was quite spoiled having grown up in San Diego County with incredible live theater venues, like the Old Globe Theater and La Jolla Playhouse.  But my office adminstrative assistant, Kat Govan, who has been involved for years in anything musical or theatrical in Montrose, encouraged me to go and support it.  I finally saw my first production in May, 2007, of the musical comedy, Crazy For You, featuring the music of George Gershwin.  As it turned out, the leading role was played by a fellow Realtor, Denece Crowe, her first appearance with the Players.  I was blown away!  Not only by Denece's incredible performance and voice, but the entire production, from the entire cast, set, costumes, lighting, music, and the obvious behind the scenes effort of directors and stage hands.  Another Realtor colleague, Diana Weaver, also had a fun part in the show as a quirky, bimbo blond chorus girl.  Boy, was I impressed!

Since then, I've seen every show from 2007 to the present, and have been thoroughly entertained and impressed with each show.  I've seen quite a few friends and colleagues who play a part in the production.  MCP welcomes anyone to audition and participate in anyway, regardless of prior experience.  In fact, those participating for the first time are given recognition.  The latest production is the musical comedy, Cinderella, which doesn't dissapoint.  This weekend is the last chance to see it, Friday and Saturday at 7:30 p.m. and Sunday, at 2:00 p.m.  If you get the chance, go see it!  And if you miss this one, be sure to put future productions on your calendar. 

This year, MCP celebrates its 50th anniversary.  Click here for a nice article in the San Juan Silver Stage on its history.  A great article appears in the Spring/Summer edition of Destination Montrose, which hasn't yet made it online, but keep a look out for it in the printed edition distributed throughout the Montrose area. I'm now a proud business patron of MCP.  And who knows?  Maybe some day I'll be up there on that stage!

~Ninah

  Crazy for You-May 2007 Shenendoah-November 2007 Once Upon a Mattress-march 2008

 

It's been about a three months since Obama's stimulus plan was first announced and then the details revealed on March 4th.  It does seem to be having a benefit in boosting sales activity in Montrose and the other Western Slope communities we serve.  And now there's more talk about improving upon it, by allowing its use as a down payment for FHA loans, and there's a push to get it extended beyond November 30, 2009, increased to $15,000, and to expand it to all buyers, not just first-time home buyers.  I'll report more on that if and as anything changes.

In the meantime,  what suprises me is how many consumers and even industry affiliates to whom I and my broker associates have talked to recently are still not aware of what is being offered, despite the plethora of news reports, blogs, and media coverage on the subject.  So, I'll summarize very briefly here what the Homeowner Affordability and Stability Act may be able to do for you.

There are 3 components:  (1) The $8,000 tax credit to first time home buyers (which is anyone who has not owned a home in 3 yars); (2) Refinancing; and (3) Loan Modifications. 

Regarding the tax credit, it is not money made available to you to purchase your home--yet.  But if you purchase one between 1/1/09 and 11/30/09 (i.e., before December 1st of this year), you can apply for the credit on your 2009 tax return (or on your 2008 one if you haven't filed it yet and have already purchased your home this year).  You can then apply the credit against taxes owed, and if you don't use up the entire credit, you get a refund.  Then, you can use that refund toward your new home, like upgraded appliances, landscaping, fencing, fix-ups, etc., or for whatever other purpose not related to your new home.  For more information, consult with your tax advisor and visit the Tax Credit Web Site.

Regarding the loan modifications and refinancing, both of these programs are intended to assist distressed homeowners who want to and are able to keep their home.  The loan modification will allow a homeowner to renegotiate and revise the terms of the existing loan or loans in order reduce payment amounts.  The refinancing is intended to help those homeowners who have been precluded from refinancing or consolidating loans because their home has depreciated in value and the existing loan or loans are now more than 80% of the value of the home.  Call the Homeowner's Hope Line at  1-888-995-HOPE (4673) for more information and to see if you qualify for loan relief.   Or check out Making Homes Affordable.

If you're looking to buy in the Montrose area, this is a great time to do it, not only because of the tax credit and still historically low interest rates, but because we have lots of inventory of relatively affordable homes to choose from.  Don't let this opportunity to own a home, or buy up or down, pass you buy!

Wishing you all find some relief,

Ninah