3rd QUARTER STATS ARE IN!

3rd QUARTER MLS STATS

Looking back on the past quarter the big news is the decline in the number of homes available on the market. During the summer months there were 18% fewer homes on the market in La Plata County. We consider this to be a healthy trend. During the recession our housing inventory was very high. As the number of homes sold has increased (up 15% from the prior year)combined with the decrease in supply, the market is moving to stability. Influenced by record low interest rates and low prices, the number of buyers for primary homes is increasing. In addition, investors are back. The median price continues to decline; but with demand rising and supply declining, the median price will eventually firm and the move upward.

Search for Durango real estate at www.HomesInDurango.com and www.RealEstate-Durango.com

IT ALL STARTS HERE

The 2012 USA Pro Cycling Challenge, the world's largest and most significant international race (after the Tour de France), comes to Durango August 20, 2012. Some 20,000 visitors, including media from throughout the world, are expected to arrive in advance to support the elite atheletes who will race for seven days and 683 miles through the Rockies at elevations higher than they've ever had to endure. Durango is the Grand Depart, or the overall start, of the prestigious seven-stage race. The race will be aired live in 200 countries around the world with NBC covering the event. RE/MAX LLC, with its world headquarters based in Denver, has signed on as an offical sponsor of the race through Colorado. Ed Andersson, our co-owner at RE/MAX Pinnacle recongized the significance of the event and pushed, promoted and pressed RE/MAX LLC to jump on board and they have in a big way. RE/MAX will be represented at each stage of the event with booths, banners and other promotions. We will be receiving the equivalent of 30 minutes of internation TV exposure for Durango and, of course, RE/MAX Pinnacle. I bet a lot of folks are going to be adding a visit to Durango to their "bucket list."

http://HomesInDurango.com

http://RealEstate-Durango.com

Chocolate

WE'RE DOING OUR PART! Chocolate lovers in Japan will soon be able to buy Durango made chocolate. Rocky Mountain Chocolate Factory, base here in Durango, has rolled out plans to expansion into Asia, including Japan, Hong Kong and China. Under a license agreement the company's Hong Kong based partner will open 10 Rocky Mountain Chocolate stores in Japan over the next year. The company will also open test stores in Hong Kong and Shanghai later this year. Taiwan and South Korea locations are possibilities on the horizon as well. What a sweet way to contribute to the reduction of the trade deficit.

Visit us for information about Durango CO real estate.

www.HomesInDurango.com

www.RealEstate-Durango.com

WE'RE #1

Policom, an independent economic research firm specializing in local and state economies, did an analysis that ranked Durango No. 1 out of 576 micropolitan areas studied.

A micropolitan area contains a population of 50,000 or less.

Data used for the study included not just Durango, but all of La Plata County.

http://HomesInDurango.com
http://realestate-durango.com

SALES UP - PRICES DOWN

The number of La Plata County homes sold in the first three months of 2012 increased compared with the same period last year, while prices have continued to fall, according to the latest local real-estate statistics. The report from the Durango Area Realtors Association showed the median home prices declined in most parts of the county compared with the first quarter of 2011. Durango condos and Bayfield in-town homes saw a price drop of a bit more than 10 percent while prices on resort condos dropped 38 percent from $250,000 to $155,000. Prices increased for Durango in-town homes, Bayfield county homes and undeveloped land. In Durango, the median price for a home was $329,950 for the first quarter of 2012, a 1.52 percent increase compared with the same period in 2011. In Bayfield, the median home went for $171,000, a 10.66 percent decline from the first three months of 2011. Across the board, the number of homes sold last quarter was up compared with the same period in 2011. Homes sales in Durango and Bayfield as well as Durango country homes increased 60 percent or more. Countywide, the number of properties sold increased by an average of 27 percent compared with the first quarter last year. It appears that historically low interest combined with depressed Durango housing prices are enticing buyers back into the market. We've seen an increase in 2nd home buyers; mainly from Texas, Oklahoma and New Mexico. As the Phoenix market rebounds, this segment of our market will continue to improve. If you're thinking of purchasing a home in Durango - NOW IS THE TIME!

DURANGO'S IN THE NATIONAL SPOTLIGHT!

Durango was once know as "the worst-dressed resort town in America" and Durangoans proudly embraced the tag.

However in 2011 Durango was seemingly a constant presence in the national spotlight receiving accolades for more than our style. Here's a summary:

* Best Places to Live 2001 and Best Place to Put Your Outdoor Life First - Men's Journal

* Top Micropolitan Area in the US - Politicom

* Top Western Towns - True West Magazine

* Top 200 Towns in the US - Outdoor Life Magazine

* Top Ten "Life is Better Here" - Outside Magazine

* Colorado's Secret Stashes - Ski Magazine

* Durango selected as the start of the prestigious US Pro Cycling Challenge

In other good news; It's never been more affordable to own a Durango property. Down the road, people will be grateful they chose to buy now.

http://HomesInDurango.com
http://realestate-durango.com

BEST ON BOTH SIDES - RE/MAX RECEIVES PRESTIGIOUS NATIONAL AWARDS FOR BOTH BUYER AND SELLER SATISFACTION.

In the eyes of Dave Liniger, the two massive J.D. Power & Associates trophies displayed at RE/MAX World Headquarters in Denver are there for one reason: Because RE/MAX has the best agents.

"From the very start, RE/MAX was designed as the home of the industry's top producers," the RE/MAX Chairman and Co-Founder says. "Our system appeals to people who view real estate as a profession, not a part time job."

In Overall Satisfaction amoung Sellers, RE/MAX was the lone brand to score five out of five. RE/MAX was five out of five amoung Buyers as well.

These awards confirm what Mary & I have always known - the RE/MAX brand soars "Above the Crowd."

http://HomesInDurango.com
http://RealEstate-Durango.com
Durango Real Estate

WE'RE #1

Policom, an independent economic research firm specializing in local and state economies, did an analysis that ranked Durango No. 1 out of 576 micropolitan areas studied.

A micropolitan area has a population of 50,000 or less.

Data used for the study included not just Durango, but all of La Plata County.

http://HomesInDurango.com
http://RealEstate-Durango.com

Zillow Home Value Index

More Durango Home Values

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http://RealEstate-Durango.com

http://RealEstate-Durango.com


IT'S SNOWING!

...and it's beautiful.

http://HomesInDurango.com

GOIN'GREEN:

As reported in the Durango Herald, Durango has been recognized by the EPA as a "Green Power Community" for the collective efforts of its residents who buy electricity produced from renewable sources.

Durango ranked 12th in the nation for green electricity use, with 7.3 percent of all electricity consumption coming from green sources, according to a new release from the city and La Plata County Electric Association. In case you missed it that's TWELFTH IN THE NATION!!

Life in our little corner of Colorado just gets better and better and SNOWDOWN is only weeks away. This year's theme is "Life's a Beach". I bet the electric consumption soars as the heaters kick in.

http://HomesInDurango.com
http://RealEstate-Durango.com

WE'RE #1

For the 2nd time in the last 5 years the Fort Lewis Men's soccer team is the NCAA Division II National Champion. That's NATIONAL CHAMPION!!! Forget the Broncos. Forget the Nuggets. Forget the Rockies and Avs. These guys belong to us. It was wonderful to see the community support the team. The championship game was televised and carried in the restaurants and local bars. Locals cheered and celebrated with a parade down Main Aveunue when the team arrived back from Florida. This "feel good" happening is only the latest example of what makes our small corner of Colorado a special place.

"National Champions" - now that's cool!

http://HomesInDurango.com
http://RealEstate-Durango.com

TAX CREDITS:

"Last night the Senate voted cloture on a bill that includes the extension of the first time home buyer tax credit.

While this is not the final vote, it effectively seals the deal on the plan to extend the $8000 first time buyer credit through April 30th and expand said credit to move-up buyers on a smaller ($6500) scale.

A few weeks ago the Deputy Commissioner for Services and Enforcement at the IRS, Linda E. Stiff, testified before Congress that between January 2009 and September 2009 the IRS has processed claims from more than 1.5 million individuals or families who have purchased homes....Now granted, the extension is also an expansion, giving some move up buyers $6500 more in purchasing power, but that's only up to the income cap of $150,000 for single filers and $225,000 for joint filers...again, covering an awful lot of Americans, but not everyone. Contracts must be signed by April 30th and, yes, they can close by June 30th."**

**Quoted from Diana Olick - CNBC Real Estate Reporter

http://RealEstate-Durango.com
http://HomesInDurango.com

Press Release


Charles and Mary Rigby Selected as Leading Real Estate Professionals of the Western United States

Durango, CO, September, 2009: Charles and Mary Rigby, leading providers of real estate services, today announced that they have been selected by Goldline Research as leading Real Estate Professionals of the Western United States for 2009. The list of leading Real Estate Professionals of the Western United States is scheduled to be published in the September 21st issue of Forbes Magazine.

“To be selected to this list of top real estate professionals is very gratifying,” said the Rigbys. They added, “The real estate business is about more than houses. It’s the people inside the house that we focus on. That’s why we place such an emphasis on understanding our client’s goals, needs and expectations. Our clients deserve only the best – we work to give them exactly that!”

“Those selected provide extensive client service that exceeds the industry standard,” said Dana Mahoney, Analyst, Goldline Research. “We believe that they are setting the benchmarks for the industry as a whole.”

Goldline Research recently completed its annual evaluation of real estate professionals in the Western United States. The Goldline Research study was conducted from July 2009 through mid-August 2009. The Western United States encompasses a nineteen state region that stretches from Texas to North Dakota and west to the Pacific Ocean, including Hawaii and Alaska.

About Charles and Mary Rigby
As one of the area’s leading real estate teams, Charles combines his more than 25 years in the title insurance business with Mary’s nearly three decades of experience as a Realtor. Together they provide each and every one of their clients with a simply unparalleled level of knowledge and service they can depend on.

About Goldline Research
Goldline Research is a leading marketing and information services company. Goldline Research’s mission is to empower consumer choice by identifying leading professional services providers. Goldline Research has evaluated professional services firms and providers throughout the United States using a rigorous, proprietary research methodology. The company has helped thousands of consumers find high quality service providers. Goldline Research was recently named to the 2009 Inc. 5000 list of the fastest growing privately-held companies. Founded in 2004, Goldline Research is headquartered in Novato, California. For more information, please visit www.goldlineresearch.com.

http://HomesInDurango.com
http://RealEstate-Durango.com

http://RealEstate-Durango.com

One of the most important things to families relocating to an area are the schools. Data released last Friday shows fairly strong academic performance in both Durango and Bayfield while Ignacio lagged behind. The Colorado Student Assessment Program, a series of tests given to children in grades three through 10 each fall, form the backbone of how the state measures public schools performance. In both the Durango School District and the Bayfield School District 97 percent of 10th graders kept up with reading standards. The statewide average was 93 percent. Our schools measure up.

While important, school statistics are not the only measurement of the suitability of a community for raising a family. In small towns it seems that youth programs are a larger part of the overall lifestyle. Young people and their achievements are recognized. Last week, for example, the La Plata County Fair featured 4-H and FFA exhibitors. The Durango Herald's Friday front page was a photo and article of the sheep competition. Saturday's front page was a photo and article on the market swine grand champion and Sunday's front page was the market beef grand champion. We're talking FRONT PAGE. Our youth are important.

In a small community the kids get coverage. When the Durango swim team competes, it's news. Football, basketball, volleyball, softball, soccer - girls and boys, its all supported by the community. Whatever the activity, from sports to high school theater and musicals, our kids are recognized and supported. A "good education" is more than just school stats.

http://HomesInDurango.com

DURANGO - Statistics for the 2nd quarter have been released by the Durango Area Association of Realtors and, as expected, they indicate our real estate market continues to suffer from the nationwide housing slowdown.

The median sale price of Durango homes dropped 12 percent from $405,000 to 355,000. The number of sales fell by half, from 70 to 35. Homes in the La Plata county also saw declines. The median price of sold properties dropped 16 percent, from $344,975 to $288,300. The number of sales fell from 127 to 102.

With prices declining and favorable interest rates it appears some buyers are coming back into the market. We have been busy. The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit to $8,000, providing some incentive to stimulate real estate sales.

http://HomesInDurango.com

http://RealEstate-Durango.com


4TH OF JULY in a small town - there's nothing like it. An outdoor breakfast in Rotary Park, arts and crafts in Buckley Park, patriotic readings on Main Avenue, and a KCBS sanctioned BBQ Cookoff; downtown was packed.

The BBQ cookoff, sponsored by the Kiwanis as a fundraiser for the Boys & Girls Clubs, drew 29 cooking teams from as far away as Florida. These were some of the guys you see on the Food Network specials. We spent 2 days preparing and serving chicken, ribs, pork shoulder and brisket to the public and judges. Our team raised over $3,200 for the area clubs.

The celebration was completed by a terrific parade lead by the Westwind Piper Band. Uncle Sam, Clydedales, Freemasons, Harleys and the Ladies and Gents of the Historical Society rounded out the spectacle that ended with a brilliant fireworks display.

Oh, by the way - we placed 6th in Pork Shoulder and 2nd in Brisket. Now THAT'S COOL!

http://HomesInDurango.com

This morning's headline in the Durango Herald is "County Pulls Plug on Land-use Code." WHAT!!!!!

After more than five years of having the new land use code shoved down our throats by the County Planners and Commissioners we're now told that the code is not "the best path to the community we want to see," by Planning Director Erick Aune.

Under previous planning director Nancy Lauro the planning department told us the new land use policies would control and limit urban sprawl. Now under planning director Erick Aune the planning department tells us the new code would actually increase sprawl rather than combat it. Aune says the county should focus on a comprehensive plan - "a central guiding document that would inform all functions of county government" - and from that a land use code would flow relatively easily. What a bunch of *#@^(*.

We have spent untold hours of effort and only God knows how much money to develop a land use plan for the county and now we're going to start over? These people need to take their educated rear ends and head back to Boulder or wherever it is they came from. ( And take the Commissioners with them.)

http://HomesInDurango.com
http://RealEstate-Durango.com

AFFORDABLE HOUSING??? The Durango City Council has adopted our first official affordable housing policy by passing the Fair Share Housing inclusionary-zoning regulation. The policy will be added to the Land Use and Development Code, and requires builders to provide a percentage of affordable units or pay a fee in lieu for each new development of more than 2 units. Under the amendment 16 percent of homes in new developments would have to be priced as affordable or attainable under a four-tiered income and pricing structure formulated by the Regional Housing Alliance of La Plata County.

No one disagrees that the Durango area is in need of more housing that is affordable for our citizens. But who is going to pick up the tab for the price reduction on the units or the fees in lieu. Simply put - the buyers of the other units in the development. Builders will pass on the costs and prices will escalate.

The solution to affordable housing does not lie within the city limits of Durango. Land is too expensive. Affordable development must happen in non-incorporated areas of the county. But that would be "urban sprawl" and good luck with county planners.

The bright side is maybe the situation will solve itself. The way the national economy is looking, we're likely to have plenty of cheap housing.

http://HomesInDurango.com
http://RealEstate-Durango.com

http://RealEstate-Durango.com

THE DRYSIDE??? The arid western portion of La Plata County, where residents draw drinking water from wells or truck it home in tanks, appears ready to shed the "Dryside" label hung by old-timers.

Next week, ground will be broken on a $6 million intake at Lake Nighthorse southwest of Durango. Treated reservoir water then would be available for residents in a 250 square mile area on Fort Lewis Mesa. The reservoir, part of the Animas-La Plata Project, which is nearly complete, is to start filling in early 2009.

Critical funding for the intake project came from the Southern Ute Indian Tribe and the Ute Mountain Ute Tribe.

It's estimated that the 700 acre feet of water in Lake Nighthorse that is available to the project is enough to serve 3,600 homes on the Dryside.

http://www.homesindurango.com/
http://www.durangorealestate.biz/