November Newsletter

This is a time of adjustment in Pagosa Springs, Colorado. The real estate market continues to be soft, and from all indications, I do not expect it to change in the near future.  I constantly monitor market statistics, and this is typically the time of the year when there is a reduction in available property for sale.  True to form, Pagosa saw an 8% drop in available homes and condos between Oct 1^st and Nov 1^st.  This looks like an improvement on the supply side of things, but this is misleading. The truth is that Sellers are just pulling their homes off the market for the winter.  Some are disenchanted with the lack of interest from Buyers.  Others don’t want to move during the winter.  Many are removing their properties from the market just to keep them from getting stale.  Most will stay off the market until Spring, hoping for a greener market.

The real estate market affects the rest of our local economy in a big way, especially when it is a soft one like this. My recent spending habits are similar to many other Realtors that I have spoken to. I am being very cautious. I am going out to restaurants less often. I am shutting off lights at home. I’ve cut down on the number of television channels I pay for with the satellite company. My ability to donate to local charities is less. I just refinanced to ensure cash flow. I plan to spend less on Christmas gifts. This is typical of many other Realtors in the area.

Here is my point: Shopping locally this year is going to be more important than ever. I know it is tempting to head for Wal-mart in Durango or Farmington to save money, but this year, I want you to think twice. Do your best to shop locally. According to the Sierra Business Council, a dollar spent at a locally owned store is usually spent 6 to 15 more times before it leaves the community.  The county and town also benefit by receiving tax dollars to maintain local services like road maintenance. I know you can’t buy everything you want here, but for the economic health of our community, please take the time to look.

This is not just a one way street. Merchants are going to have to be aggressive in marketing, pricing, and service in order to be competitive and maximize their results. We need to stick together more than ever this year and help each other.

With all that is going on, we still have much to be thankful for. We have our freedom, our families, a beautiful place in which to live, and each other. It’s been a good year, despite some setbacks. Let’s continue to go forward with a positive outlook, and let’s try to keep everything in perspective.