There is a lot of negative press around the country right now concerning the real estate market. I know that human nature desires to hear the extreme news, so that's what the media is going to provide. I personally am a little tired of hearing about it, so I am choosing to spread a little "thumbs up cheer" about the whole situation. Fortunately for me , I have the opportunity to help people purchase and sell real estate in a wonderful place that has numerous positive aspects, so that makes it easy. Here are a few reasons that I know Pagosa Springs Colorado is a good real estate investment:
The national economy is in really good shape:
Interest rates are at incredible lows and are moving downward. The 30 year fixed rate is at 6.45% and the 15 year comes in at 6.12%. National job growth is strong. According to Whitehouse.gov our country has added jobs for 47 straight months, and the unemployment rate hovers at an impressive 4.6%. Americans on average have 7% more buying power than they did in 2003. These are far better numbers than many of you have encountered at any given time during the past 30 years.
Pagosa's geographical boundaries:
We live in a county that has about 80% national forest and public land. Let me put it another way. Name a city. Denver, Houston, Boston or wherever. Suppose we took a big imaginary marker and made 80% of any of these places national forest. Not just any national forest, one with unparalleled snow fall, topography, annual sunshine, amazing rnivers, trails, abundant wildlife and fish. Would that increase the land value of the remaining residential and commercial parcels? Simple economics tell us it would. The argument to this is "Pagosa will never have that density." My future-predictor works about as well as yours does so I don't know. However, I challenge you to spend some time with a resident or two that has lived here for 25 years or more. Ask them if they thought that McDonald's would ever be in Pagosa in the 80's! Talk to them about the progression of Aspen or Vail and you may come away with a different perspective.
The numbers don't lie:
Looking at the median sales price of residential, single family, stick framed homes in the past 6 years shows the trend line. Real estate markets, just like everything in life, have a cyclical flow. The median price of homes sold in 2001 was $175,000 while the same look at 2007 to date gives us a price of $277,500. That is a 58.6% increase in 6 years or about 9.8% per year. Not a bad investment on the whole.
Hey, it's Pagosa Springs!:
Ask yourself one question. Why do you live or vacation in Pagosa Springs? When you find the real answer you will see that the attraction that brought you to our wonderful town has not, and will not ever change. Surroundings, location, climate, recreation opportunities, topography and culture. That is the draw...THAT is the value.
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