Affordable Housing (Part 2)

I have turned away yet another family that would only desire to be
homeowners in Pagosa Springs. "How much can you afford?" I asked. The
answer that came across my desk would have been very sufficient to
provide a 3 bedroom 2 bath home with views and all a couple of years
ago. Unfortunaltly now the very bottom of the market for a single
family home has perched itself between 200k and 225K.
Without getting into the details of all of the market influences, I
would like to discuss the one that seems to be at the heart of the
issue. Water, H2O, Liquid life.
At first glance you would not recognize Pagosa for what it really
is...High desert. Yes we are at the base of Wolf Creek which gleans on
average 450 inches of snowfall per year. At 7600 feet, Aspen, Spruce
and Pine trees abound.Not to mention The San Juan River, and Four Mile
Creek which supply this area. Oh but take a Sunday drive no more than
1/2 an hour southwest and soon you will see the reality of it all.
High desert.
How has Pagosa Springs as a city and Archuletta County chosen to
combat the supply (water) and demand (major growth) issue that we
face? Ask any builder and he will quickly tell you of 2 ways.
1- Water Resource Fee - At $6,343.00 per vacant land lot in the
Pagosa Lakes Area. This fee is primarily to ensure future water
resources, such as the Dry Gulch Resevoir. It was put in place June of
06, and goes up to an even $7,000.00 in May of 07...Oh Goody.
2- Capital Investment Fee - This little jewel is based on the
square footage of the home to be built on said lots. Invented...yes I
used the word invented, to secure functionality of water and sewage
treatment for PAWS (Pagosa Area Sanitation and Water System)
customers. This was put in place roughly the same time that the
Resource Fee was. It will go from $2.50 per square to $2.77 this year.
In a nutshell, to build a 1350 square foot home in the Pagosa Lakes
Area you will have to throw down $9718.00 of cash for just these two
fees alone before you can put a shovel in the ground of your new
building site. Couple this with lot cost, county and PLPOA permit
fees, surveys, electric connection, water usage fees....etc., and at
the low end of the totem pole you are spending around 53,000 to just
get started!
After all of this, I would still choose Pagosa Springs as my home
over any of the other 17 cities that I have lived. I guess we will
just chalk it up to the cost of living in paradise!....More to come on
this topic.

Affordable Housing (Part 1)

This term "affordable housing" has seen it's fair share of use in the past little while. It seems you may get 10 different answers if you asked 10 different people how this is really defined. A case study of Pagosa Springs and Archuletta county is going to be conducted which will define this for us.
I recently sat in an open forum meeting hosted by the Regional Housing Authority for our area concerning this matter. We, like many growing Colorado resort towns, are facing the music when it comes to out-pricing our service industry personnel and their capabilities to own real estate in the "normal" market.This meeting was graced by the presence of the Mayor, members of the water board, county, city, banks, mortgage companies, developers, builders and of course....Realtors. It was the first possible step toward exploring some answers for the dilemma we are facing.
Why is it so hard to build a house that Mr. and Mrs. Joe blow can afford?
That is what I intend to explore with you here and on some of my other forums (http://pagosa.blogspot.com/ and www.liverettmtnrealty.com) in the upcoming months as I continue to probe into this topic myself.

Chris' Current Listings

Condo IN Core Area

Great Condo in the core area of Pagosa Springs- Just right for a vacation pad!

Recently painted and carpeted ground floor condo with mountain views. This unit comes fully furnished with appliances. Close to amenties like Pagosa Lakes Rec center, coffee
and shopping. Condo is in great shape and has a great rental history. Best of it's kind! Call for a showing- 970-903-0481

Location + Right Price = Investment $$$

Location, location, location! Today I bring you the most attractive potential for a Fix and Flip that I have seen in all of 2006. With Lake View Estates average resale price falling around $180 dollars a square foot, this home on 121 STEAMBOAT DRIVE comes in around $141 dollars per square! Incredible location with huge mountain views and close to EVERYTHING. Here is a more formal discreiption courtesy of Tom Marin - 3 BEDROOM,1.75 BATH, PLUS OFFICE, RANCH STYLE HOUSE, GREAT MOUNTAIN VIEWS FROM FRONT PORCH. VERY NICE NEIGHBORHOOD, CLOSE TO ALL
SHOPPING, ETC. THIS HOME NEEDS SOME TLC AND UPDATING. IT IS A FIXER-UPPER. HOME IS BEING SOLD "AS-IS".

This one won't last. Contact me for more details
Source: Chris Liverett "Your Real Estate Advocate"

Rental Townhome- Sleeps 8

Winter sports in a resort town like Pagosa Springs brings short term renters by the hoards. That prompts me to bring to your attention this property today.- This Townhouse at 61 Lakeside Drive -

Like new townhome with total furniture Pkg. Sleeps 8, with oversize garage, owners walk in closet, vaulted aspen ceilings, hardwood floors in kitchen and dining and tile in
bathrooms. Unblockable mountain and lake views.

Offered at $269,900 contact me today for more information.

Source: Chris Liverett "Your Real Estate Advocate"

Colorado Land Investment 3 acres with mountain views

Here is your chance to own a great 3 acre horse property at the right price, with all of the amenities. This piece of wooded land has great mountain views, while remaining close to Pagosa Springs, and not to far from the New Mexico boarder. Loaded with goodies like Covenants, Electricity, Telephone, Mature Trees, Pasture Land and Horses Allowed. This property popped up on my radar because of a price reduction that brings it into mid-term equity range. The average covenant protected 3 acre parcel in our area lists for $77,000 per acre. This parcel at 2250 Loma Linda Drive, comes in just under $50,000 per acre with a list price of $149,900!...To look at more statistical information about Pagosa Springs Real Estate sales, visit my stats page. Contact Chris to find out more about this property or other land investment opportunities.

Source: Chris Liverett "Your Real Estate Advocate"

Own your own business for less than $100K

With the Ebb and Flow of market transition their is always one side of the market that will lead the other in appreciation. I am speaking of Commercial business vs Residential purchasing. The pendulum in many markets (especially in the west) right now is making a move toward the Commercial side. Resort towns like Pagosa Springs Colorado are no exception. Coming off of exceptional high home pricing has left a gap for much commercial growth. That is one reason I present to you the "Property Of The Day". A turn key business located in the heart of Pagosa Springs. Reference MLS # 6001580
Buy an established and successfu business. Rocky Mountain Home and Leisure offers high end merchandise such as Jacuzzi hot tubs, Connelly billiard tables, Health in Motion swings
and Palm Island bars. Sells complete with inventory and all support equipment, it is a true turn key opportunity. This profitable business is offered for sale only because the
owners other business interests have expanded.
Contact me @ www.chrisliverett.com to find out more.
Source: Chris Liverett "Your Real Estate Advocate"

1/3 Acre For 1/4 Acre Price- Only $59,800!

Pagosa Springs Colorado Vacant Land Lots have seen there fair share of price fluctuations in the past few years. Sometimes it is hard to determine what a value really looks like.
Thats not the case with today's investment opportunity.
I wanted to show my subscribers this wonderful 1/3 acre corner lot in Lake Forest Estates that recently underwent a price reduction. Was $64,000 now only $59,800!Close to the prestigious Lake Forest this lot is a great buildable piece of land with all utilities in place and huge mature ponderosa trees. Very close to amenities and in a great neighborhood this lot won't last. Compare this parcel with others in the area and then contact me to make a deal!
Source: Chris Liverett "Your Real Estate Advocate"

Single Family Home For Less Than $225K!

Today's property of interest comes to you in the form of a brand new 1200 + square foot home for less than $225,000. This is a rare find in today's Pagosa Springs Real Estate market. This home has cathedral ceilings with tongue and groove pine, granite tile in the kitchen, and views of the majestic Square Top Mountain and Eastern range. In a rising real estate market, such as the one tha Pagosa Springs has encountered, this type of affordable housing is hard to find. Contact me about this home or other property in southwestern Colorado. www.chrisliverett.com
Source: Chris Liverett "Your Real Estate Advocate"

A-Frame Cozy Cabin...Price Reduced!

Today's deal is a beautiful a frame style mountain retreat, close to Lake Hatcher with big Pagosa Peak views! A very short distance to trout stocked Lake Hatcher, and less than a mile to San Juan National Forest. This 2 bedroom 2 bath home sits on an oversized lot begging to be customized to fir your taste. I submit this home due to a price reduction today from $389,000 to $355, 000...almost 10%. Reference MLS # 6000941. Go to my website www.chrisliverett.com , then call me today!

Location, Location, Location!

I grew up in rural america. As a young man I could not wait to "get out and see the world"....So I did. At ceartain points in my life I haved lived in large citys, and the last one I called home drove me back to my roots. Fast forward to present day Pagosa Springs Colorado.
This past weekend we were invited to a family cook-out about 5 miles out of town. At some point during the afternoon, my wife and I found ourselves on the back of a motorcycle heading up Cat Creek Road. Just cruising up the canyon conversing about the surroundings, we were amazed at the large game and the majestic views. It felt like we were 7 hours in to Canadian back-country. Then I realized that by turning my handlebars we could be back at our favorite coffee shop in town (Higher Grounds) in about 11 minutes!! Man I love this place....It's all about location my friend.

Hospital is on the Way!

"Its hard to turn down a free ride." Some locals are saying. By a margin of nearly 10 to 1 the Critical Access Hospital was given the thumbs up to begin construction in September 2006. The vote approved 12 million dollars in debt that will not raise the mill levy. I guess the 106 people that were opposed to the incoming health center are seeing it as one more reason to make Pagosa swell in population. The decision will no doubt be fuel for the fire in a quickly growing corner of the state.Only time will tell the full impact.