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

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

Montrose, small town, family-oriented, close to the earth, community-focused, and then there's Home Depot, the big corporate, big box company governed from corporate headquarters in Atlanta, Georgia.  Forget the roots of its beginning.  Today, as I learned from my partner, Annabel, a 5-year employee of Home Depot in Montrose, the directive from Above is that all personal photos of friends, family, and whatever had to be removed from employee lockers and all buttons with personal photos were forbidden to be worn on the company apron during work.  No explanation (could there be one?).  Well, what a boon for employee morale!  That should serve the customer well, don't you think?  If you think this policy is as ridiculous as I do, please let your local Home Depot know, and pass this around.  If someone wants to attempt a logical explanation for the policy, bring it on!  Here's one of the photos Annabel had to remove from her locker (our Airedales in our Jeep at Engineer's Pass):

Incredulously,

Ninah

Congratulations to Judy Grubbs, the winner of the People's Choice Trophy at the  Black Canyon Classics Car Club show held Sunday, May 17, 2009, in Montrose, Colorado.  Judy is a 8-year resident of Montrose, transplanted from "the other side of the mountain."  Her winning entry is a 1969 Plymouth Barracuda.  The engine is a 426 Hemi 4-speed tranny.  She's owned the car since 1981.  She gives credit to the lots of blood sweat and help from family and friends who got it into its present condition in 1989.   Judy has been showing it ever since and having lots of fun with it.  Here's a photo of Judy and her Barracuda with trophy. 

Here's a photo of my friend, Randi Levine of Alpine Bank in Montrose, a first-time show entrant, with her 1981 Toyota pick up truck.  She's a winner in my eyes!

And this is my friend, Jack Spiri (aka "Happy Jack"), a veteran at these shows, with his 1955 Porsche Spider, which as been a people's choice winner many times.

For the classic car enthusiast, there is always such a variety of classic cars at these Black Canyon Classics Car Club shows.  So, check out their website for their scheduled events, occuring in different locations around Montrose and the Western Slope throughout the summer.  Enter your car, or just come to admire the great cars and cast your vote for your favorite.

Congratulations, again, to Judy!

~Ninah

Congratulations to my broker associate, Kylee Smith, and her hockey broomball team, C 21 on Ice, this year's Montrose/Ouray Hockey Broomball champions!  After a three year hiatus, the Montrose/Ouray County Hockey Broomball League was back on the ice again this year. This year's league play consisted of nine teams organized by Michelle Hanes of Ouray.   Kylee explained it  to me as follows: Play included 2-3 game per week for five weeks with the single elimination "playoffs" Feb. 18, 2009 to determine the 2009 champions. Games were played by 5 players on ice, in boots, helmets and other protective gear with each player designing their own broom. Only 3 men were allowed to be on the ice at a time with one of those playing the goalie position. The other two positions were filled with females and/or children from 11-15 years. One "bonus" player 10 years and younger was allowed on  the ice at all times.  The games took place at the Ouray Rotary Club Ice Rink.  C 21 on Ice won in a sudden death play-off.

I'm ashamed to say that, despite Kylee's encouragement, I didn't participate this year.  Besides schedule constraints, I have to admit that I lost a of bit of enthusiasm after Kylee told me that, in addition to a broom, I should have a helmet, knee pads, shin pads, butt pad, wrist guards, and whatever other protection I could muster up.   Well, after winning the championship with a team name honoring our company,  I'm rethinking this broomball thing.  At least, now,  I've got a year to get my broom!

Front Row L to R: Mike Trickey, Glacier, Chase Darling, Mariah and Tyler Hilton
Back row L to R: Ben Tisdel, Kane Darling, Kjersten Davis, John Nixon, Steve Hilton, Kylee Smith, Michelle Hanes, organizer (Check out all those missing teeth!)

Congratulations, again, C 21 on Ice!

~Ninah 

Real Properties in Colorado will be re-appraised this year, which happens every odd year.  Property owners will be getting a notice of valuation by May 1st of this year.   The new tax amounts will go into effect for the years 2009 and 2010 (payable in 2010 and 2011).  Now, here's the interesting part.  We (property owners) are being warned to expect property values, and therefore, property taxes, to increase, rather than decrease, despite the obvious decline in the real estate market over the past couple of years.  As explained by Debbie Griffith, the Delta County Assessor, who visited my Delta office recently, if values do increase, it will be because the sales data collection period ends on June 30, 2008.   While sales volume (i.e., quantity sold) fell signicantly, values generally did not during this period from mid-2006 to mid-2008.  In fact, some values increased.  This explanation has been echoed in newspaper articles I've read in both Ouray County and Montrose County.  In truth, depreciation in values in our area have lagged considerably behind the declines in harder hit areas of the country.  Our regional MLS market statistics bear this out.  Despite this explanation, I'm anticipating a lot of property owners will be puzzled, and not necessarily happy, when they receive their notice of valuation to find the value of their property has increased, and, consequently, so have their property taxes.

Valuation and taxation in our counties are a rather complex process. You can get a pretty good explanation by reading the brochure, Understanding Property Taxes in Colorado available on the Montrose County website.  As Delta Assessor Griffith explained, complicated, statistical formulas exist  to determine value, which vary among different distrcits or areas.  In some cases, valuations can be more accurate because maybe 140 properties are being compared versus 5-7 in a typical appraisal.  On the other hand, they may not be as accurate because variations can exist among smaller, more specific areas or neighborhoods and because most properties are not physically inspected.  For this reason, disgruntled tax payors may appeal if they disagree with a valuation.  Be forewarned the period to appeal is very short.  The appeal must be received by the Assessor by June 1st (if mailed, the appeal must be post-marked by June 1st).  In Delta County, you may also appeal by telephone.  The appeal should include an explanation as to why the value is wrong, which is most often done by comparing your property to other similar properties that sold in your neighborhood or nearby.  You can also request that the Assessor visit your property to confirm he/she has current and correct information.  Be careful with that, however, because a physical inspection could result in even higher taxes if the Assessor discovers signficant remodeling or other improvements, expecially those that increase square footage or living space, new outbuildings, etc., about which the Assessor previously had no information. 

If you contemplate making an appeal, you should review the information in your notice of valuation carefully.  Then, you can research recent sales in most neighborhoods via the Assessor's Property Record Search (ITAX in Montrose, ITAX in Delta, and ITAX in Ouray.  Most Realtors are willing to provide at no cost recent sales information to anyone who wishes to appeal their taxes.  That is certainly true of me or any of the broker associates in my office.  Of course, if you're contemplating selling your home this year, and your value goes up, then maybe you should just count your blessings!