September Blog            Wow, almost fall, what happened to summer and the Real Estate market?   Many, many years ago this area was prone to seasonal selling, that is, in the summer months business was always a bit better than the dead of winter.  However prior to the bust and in the boom days, it was busy all year long.  We did see more activity this summer than the first of the year so that was good.   

I don’t think the ripple effect of the foreclosure market has hit Montrose as of yet and I really hope we don’t see too many foreclosures as it will impact the market. 

Ok, enough on what may be bad and let’s take a look at what is extremely good.  Thought occurred to me last week.  Location, Location, Location does and will work with homes and by golly it works with towns and areas.  We really live in a great area and folks will always come to a good area vs. a bad one.  So Montrose is very lucky because we have such great surroundings and it is a great town and Real Estate will always be a  bit better here than other not so desirable areas. 

Many of you have been on my web site and many of you are reading this now on my site.  My wife Marilyn put this together around 1999 and we have had tremendous success with it, in providing you timely and good information on what was for sale in the area along with other community info.  We are always open to hear from you on what you would like to see and any changes we could make that would make your search easier and more effective.  Drop me an e-mail and we will definitely take a look.  scott@montrose-realestate.com 

BTW  Marilyn fell a couple of weeks ago on our first camping trip of the season and broke her leg in two places.  She will be on crutches for at least 6 weeks. She is not a very happy camper at this time, probably because of the crutches and my cooking. Drop her an e-mail if you have time.  Marilyn@montrose-realestate.com 

If you searched for homes on my web site in the last week or so you may start getting my Realty Times newsletter.  It comes out once a month.  Great product with great info.  If you don’t want to receive it, just let me know. 

Thanks to everyone who uses my web site for their home search, and please let us know how we can help.  Even if you are a couple of years out on buying or just poking at the market, we do have some great tools to keep you updated and we really would appreciate your business.  Our youngest daughter Kyndall will start college this Friday, so we need the money. 

Montrose-realestate.com just put on the first of what I hope will be many concerts this last weekend.  We had Sharon Paquette and Andrea Bensmiller come in from Las Vegas.  They along with some great talent from Montrose (Yvonne Meek) put on a great show at our Pavilion.  We hope to have another concert early December with one of the members from the Frankie Vallie and the Four Seasons group.  That should really be great.  Stay tuned for more details. The goal is to provide excellent entertainment for the residents of Montrose. Just another way that makes this a great place to live.

4^th of July, Independence day, remember? 

So many people probably have no idea where this holiday came from… Oh we have a picnic this day and shoot off fireworks, that’s why we  have the day off. 

Well I won’t get too carried away,  but please try to remember the month of July as a great time in American History and the many sacrifices many people made so we can have a picnic, the day off and shoot off fireworks. 

Wow, talk about a crazy market here in Montrose…  Prices have not fallen as in other areas of the country and this is good for sellers, if indeed their home does sell.  Bad for sellers as many buyers think prices are too high and will rent or wait till the price does come down, if in fact it does. What we do know for sure is that folks still like the area and want to move here.  Many, many inquires about the area and housing.  It is that Location, Location, Location thing.  Montrose is in a great location so it will always be popular, so prices may not decline as much as in other areas.  I often time have to remind buyers that Montrose is not Detroit and show them on the map where the two locations are….. 

Summer is such a great time here in Montrose, so many great places to go within an hour drive, nice and green as we have had our share of cool wet weather.  My pond project is almost finished so perhaps I can enjoy some of the many great places around the area. 

Thanks for using our web site for your home search and have a great summer. 

Scott

The clock is ticking!!! 

So everyone is ready for the big Christmas and New Year  holiday??  Real nice time of the year, even with the cold and snowy weather.  If you are a ski buff then even the weather is great.  As of now we really have not had any big snow in Telluride, Crested Butte and Powder Horn.  I think that will dramatically change this week and next.  Raining today here in the valley so that is good sign.  Temperature has been mild up to now, In the 50’s on Sat. 

So what to do in this economy and especially the housing market?  We are seeing more and more Realtors advertise “Short Sale” help.    Well short sales can be very good for the investor, but it takes time.  I’m working 3 right now and now closer to closing than we started 3 months ago.  So for the family trying to buy a short sale and get in before Christmas, probably not a good idea.   For the investor who will rent it out or fix it up and rent it out or sell, great deal.  Patience is the key.  If you are a professional investor or someone who would like to get into this, give me a call.  970-209-2234.  I have had some excellent experience and schooling so I can help you.  There are a few other ways to get some good deals prior to foreclosure and NED, so give me a call.

One holiday down, one to go.  Even with the crazy economy we still have a huge amount to be thankful for and I hope everyone had a great Thanksgiving.  When you get feeling down, watch the move Bable.  Not so much for the story plot, but the differences in living conditions between the players.  Ok, so I know there will always be a disparity in living conditions, but some Countries really have it bad.  Always wondered what causes one country to do well and others to still live in the Stone Age.  I think education is a big part of the picture and the other factor may be the desire to achieve.   

Again the news media is convincing us we are in a recession and probably before it is over they will have us in a depression.  Why do they do that??  Good grief if you hear bad stuff long enough you do start believing it.  I can certainly appreciate there are tough times in some areas, job loss, etc.   However there are always jobs may not be exactly what you like or at the pay level you are used to, but jobs none the less.  Starting over is tough, trust me I  have been there, but just do it! 

Coming to work this morning thinking that this is always a great time of the year to start planning and organizing for next year.  In my business there is a tremendous amount of work to be done no matter how slow or busy we are. 

Speaking of planning..  Mountain Shores, the development East of Town.. Looking forward to breaking ground after the first of the year.  Condos may be the first to be built along with the lake and landscaping.Would a NEW 1000 S.F. stick built home in Olathe for $125,000.00 work in this market??  Let me know. 

A couple of really killer deals.  Nice 1000 S.F. modular home on three ac.  $139,900.00.  This may be the lowest priced property on ac. in the area.  Real nice area West of Olathe and if you have not been in that area, take a Sunday drive around there, great rural area. Custom 3000 S.F. home on 12 ac, near Colona.  Border BLM which is way cool.  The views from this home are fantastic, granite, tile, hardwood all the very nice stuff.  We should have some pictures on the web site this week.  $595,000.00.   

November (after the election blog) 

Ok, we made it through the droning election advertisements so on to more fun items like the economy.  Today 11/6 the dow is doing just great.  But wait don’t let that get you down especially if you live in Montrose Colorado. 

Montrose has graciously declined to take part in the recession!!! 

What you say, no recession in Montrose??  Well that is true.  We are indeed captains of our own fate, so we are not going to participate in a recession,  end of story.    

Historically Montrose has escaped many economic downturns, somewhat because we really don’t have a huge economic engine that fluctuates with the overall US economy.  Most of our economy is produced from retirees moving here, some tourism and being a service center for Telluride and other very high end areas.  It seems the really high end area’s don’t suffer that bad, ok maybe they only get $4 million for a home vs. $4.2 million , everyone has to sacrifice a bit. 

So to this end a few of us here in Montrose have started the “Hey Chicken Little the sky is not falling” campaign.  Basically our goal is to let folks know that the economy and the Real Estate market is doing just fine, so come on down.  Attitude is everything and if we have a good one, good things will happen.  But we have to overcome all the slanted bad news from the media.  Remember bad news is a good seller; good news doesn’t sell papers or help with the ratings.   As a note we are only down approximately 25% on residential sales this year.  Not bad at all. 

More to follow on this and if you have any questions, drop me an e-mail 

A FEW REALLY GOOD DEALS !!!! 

3 + AC. lot in Cottonwood Crossing  $99k with possible owner carry. 

Bridges lot  $169k WITH golf membership and dues paid for a year and Owner Carry. 

Partial owner carry on two really great homes in the country. 

Drop me a note or call if you need more details.

The Fall Blog… 

Wow, is this a great time of the year or what.  Fall in Western Colorado is just really amazing. Cool weather, beautiful scenery, a time to take a deep breath and relax a bit.   

Where was I this summer?  Well I must admit I did take some time off from Real Estate and the associated components.  For the last 4 years I have had this pet project of building  a pond on our property.  It was literally a dry hole for a number of years.  This year however we made the big push to finish it up, get water in it, stock it with fish and do about a third of the landscaping around it.  It has been a fun, challenging and hard project.  Eventually I will get some pictures of it up  

While I was out “playing” as my wife would like to say I may have missed the housing crises and the economic problems.  What you don’t know shouldn’t hurt you, right??There is no getting around it, overall sales in the area are about half of what they were last year.  Prices however have not dropped that much in this area.  Foreclosures are up as to be expected, but not that bad.  It is indeed a buyer’s market and the buyers are out looking for a good deal. Again, I can’t see that prices “overall” have come down that much here in the Montrose area. 

The news media has everyone scared, from getting home loans to investing in the market.   I realize the media is just trying to do their job, but be smart, and do a bit of research before making a major decision.  Loans are available. 

We will see what happens in the next week or so, especially after the election, however in the mean time, be happy, don’t worry.

Blog entry 4/2/2008 

I had to wait till April 2, so no one would think this is an April fool’s joke. The market is still very good here in Montrose Colorado.  The foreclosure rate is about normal  and we are not seeing people living under bridges or walking away from their homes.A nice community to live in will always be in demand and my favorite saying is “they are still making more people”.  So these people will need some place to live, either rent or buy.  So for the investor a great time and a big news flash….FHA/VA has raised the purchase price limits to $275K.  That is a huge improvement and with 97% financing available, this will open the door to many first time and other home buyers.   PLUS, if you get the seller to contribute up to 3% of the purchase price the buyer gets 100% financing.  

Ok, let’s review, purchase limits $275k, 97% financing, what is wrong with this?  Absolutely nothing.. 

Give us a call and we can clarify how the seller contribution of 3% works. 

In addition to all that good news.. We are rolling out Mountain Shores Village and Estate lots this month.  April 17^th at 5:30 at the Bridges at Black Canyon,  a nice evening get together with food and drink and a huge opportunity to be part of this great development.  One half ac. estate lots, a new urban  village, it is indicative of the Real Estate climate here in Montrose.  We will have pre-release pricing  on these lots for one night only.  RSVP me directly. 

I find it a bit hard to sit down and do this blog, due to the activity in Real Estate; however I promise to be more diligent in getting out the “real” story about Montrose Colorado Real Estate. 

BTW, go to www.resortdestinationproperties.com for a bit of an insight on how we are attracting buyers to this area. 

GREAT FOR 08

Great for 08, could this be the new slogan, with the exception of all the current and proposed commercials for candidates, yes this will be a great year.

Finally after too many years to count we thought it time to take a family vacation and we did and it turned out to be a high point.  Where to go in the middle of a reasonably cold and snowy January?  Mexico, and Port of Vallarta or Nuevo Vallarta to be exact.  Excellent location for a winter vacation.  Of those of you who have not travelled to this area, give it a shot it is really nice.  Throw in a great condo, Villa del Palmar Flamingos, a bit of whale watching (Princes Vallarta), great food, great beach also, some zip line activity on the jungle canopy (La Vista canopy adventures) www.lavistaadventures.com  dinner at a restaurant precariously balanced on the top of a mountain, this is getting better all the time.  Take a short walk on the beautiful beach to the small fishing village of Bucerias to bargain with the vendors and you start to feel like you are really on vacation.  BUT the big item was the people, friendly, helpful and thoroughly trained in “customer service”.  I hope I can retain what I learned from them and apply it to you our customers.

So what about Real Estate for 08? Local vs. Regional will again come into play.  Each local micro Real Estate economy (LMREE) will be unto itself, so study that and understand what is going on in your market vs. what you hear on the national news.  As far as Montrose goes, I see up to 8-10 new listings just about every day and closed sales running about half or less, so buyers should have a good choice when searching.  Based on list price of these properties, it seems prices have not fallen or moved into the fire sale category.  BTW the internet is so handy and even on a great vacation; one can spend a bit of time each day keeping up with the market. 

A couple of very exciting projects coming up this first quarter.

Mountain Shores Development will be going to the City of Montrose for Sketch plan review.  This is the time the City looks at the proposed development as to overall design and infrastructure.  After Feb. we hope to start allowing reservations on lots. How to make money on new developments?  Reserve a lot a pre-release pricing; this is before the final plat.  When final plat occurs and we can transfer deeds and by then prices have usually escalated.  You have now some built in equity for a construction loan or you may want to resell and take the profit.  Keep this in mind and you will be updated on the progress of this project.

If you are a seller, read this carefully.  After a year or so of studying the market and understanding where buyers are coming from or not coming from, it was decided that to get Montrose on the map and get the buyers here we must take the preverbal bull by the horns and go get the buyers.  To that end we have developed and are implementing one of the most aggressive advertising campaigns I have seen or been part of.  We will target markets in Phoenix, Southern California and Nevada.  The target market will have the resources for second and third homes, vacation homes, commercial property or investment property.  A combination of consistent and enticing direct mail, major magazine print, major web site presence will be some of the methods used.  Again, I will keep you posted on the progress.

So yes, 08 looks to be a good one.

Housing as a commodity???I doubt the concept of fix and flip and investment Real Estate was foremost in the minds of those WWII veterans when they were looking at homes in Levittown PA.  They were looking for shelter, roof, warm in the winter and cool in the summer place to raise a family and enjoy life.Using homes and housing as shelter prevailed for a long time.  Recently the concept of making money with Real Estate has become a buzz word along with a way of life for some people.  Not to say that in the past there have been wise investors that viewed Real Estate as a highway to wealth.  Consider the golf course and subdivision developer; they have  seen the lighted pathway to riches.   The average Joe has recently joined the crowd in trying to make Real Estate a second or in some circumstances a primary vocation.  Well does it work?  In most cases it does not and has this movement led to or contributed the current situation in the housing market?  For the novice fix and flipper or even the developer, as with most vocations hard work, planning and focus are required to be successful, oh yes, don’t forget money.What I wanted to get across is that housing is just that, a home for you and your family and was primarily developed to keep you warm in the winter, cool in the summer and have a place to invite friends and family over for Sunday dinner.  Yes you can make money in Real Estate and you can also lose money.  For the most part most folks break even after some good investments and then some bad ones.  So when your friend of neighbor brags that he made a killing on selling his home, take it with a grain of salt, he may very well lost his shirt on his last deal.

National and Regional Real Estate, there is a big difference!!Yet another day with Real Estate in the news and the news is typically not too glowing.  You have to wonder when the concept of what a home sells for or how many homes sell, becomes a national news topic.  So it may be a slow news year,  or Real Estate is, or has become, a major business.  I hope when listing to the news you don’t compare your local market to those markets all over the country.  Get a map out and pinpoint your community and then pinpoint the community that was on the news this morning.  If there is a difference of several hundred or a couple hundred miles between them, then the news probably doesn’t apply to your community.  Sounds simple and it is simple.I get cornered several times a day by friends, family and sometime strangers asking me how the Real Estate market is doing in Montrose.  Well it is doing great I tell them.  We have had a great November, 6 closings and more importantly 6 families are going to have a new home for the Christmas holidays.  Yesterday we had two offers on the same home.  People are coming to Montrose, why?  Because it is great place to live, work and play.Don’t let the national news frighten you; focus on your local Real Estate goals.