Archive for April, 2008

Apr 08 2008

More Snow?

Published by under General Information

The weather forecast is predicting a big wet snow coming in from the west on Wednesday evening into Thursday.  But current pattern indicates that it will stay mostly north of us and we should only experience some scattered rain showers and snow flurries.  The weekend forecast looks warm and dry so come on over to see us.

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Apr 07 2008

Fed Discount Rate

Published by under Real Estate News

Have the recent Fed. Discount Rate reductions translated into lower interest rates on new mortgage loans?  No, not really.  At least not yet.  

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It’s true that interest on many existing mortgages are indexed to adjust with changes in “prime rate” or  similar money market conditions.  And reducing the Fed. Funds rate has effectively caused banks to lower their prime rate, so some existing ARM loan rates have in turn been reduced. 

But rates on “new loans” continue to be market driven and based on current risk/reward yields.   And market investors remain skiddish about buying new loans at lower interest rates.   Even though the Economic Stimulus Package has insured higher guarantees for conforming mortgage loans (including Jumbo loans), the investors just aren’t  bullish on buying these loans without higher yields, thus the continued firmer rates.

Rates under 6% can be found at the local banks for 5 yr. ballon or 15 yr. amortization.   And even  the 6.5% national average on 30 yr. mortgages still reflect a good deal for new borrowers.  It wasn’t too long ago that you would have expected to pay near 8%.  Current rates are still near their lows for the past 5 years and I don’t expect them to drop much farther.  At least not right away.  So don’t wait for another reduction in Discount Rate thinking it will make new mortgages even cheaper.  It probably won’t.  

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Apr 07 2008

Train Music Festival

Published by under Recreation

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The Rio Grande Scenic Railroad has just released details on its La Veta schedule and High Altitude Summer Concert series.  According to the local Signature news, there are a number of special trains planned.  Like a ride Up Top to La Veta Pass for a Michael Martin Murphy Concert. It doesn’t get much better than that. Michael is scheduled for several weekend performances running July 16/17 and the first 3 weekends in August.    

Other events include a Mother’s Day brunch ride, Jazz with your Dad trip and a Firecracker Express barbeque.  If you haven’t ridden the classic steam locomotive yet then you are in for a nice surprise.  Breathtaking views plus big-name entertainment.  See their website for programs and schedules. www.riograndescenicrailroad.com

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Apr 05 2008

Grandote-Dining

Published by under General Information,Recreation

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We are so very lucky to have the championship Grandote Peaks Golf Course right here in La Veta.  This week the Golf Resort opened their new dining operation.  Our Bachman Office enjoyed the first seating by holding our weekly meeting at the Club for breakfast.  Not just any breakfast, but a beautifully presented breakfast wonderfully prepared by none other than our local Jim Vietti.  Following breakfast with Dave,  Kelly Popejoy gave us a tour of the new Grandote Homes under construction.  The two architect designed Medditeranean style homes were a big hit to all of us.  Then Thursday evening, Vietti and company  served 20 people to a delightful 4 course gourmet dinner. 

 The course is open and in great condition so grab your clubs and come join us.  If you would like a brochure or tour of the new model homes, just give me a call to set things up for you.  Meanwhile, check out the course and the homes at http://www.grandotepeaks.com/

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Apr 04 2008

the Flicker

Published by under General Information

A beautiful morning here in the Valley.  I had my coffee on the porch and saw a small herd of elk moving across the Wahatoya Valley.  Then I heard a rat-a-tat-tat drumming sound down by the road.  A woodpecker?  Actually a close relative, called a flicker.  Noisy little tappers but they aren’t  pecking for bugs or worms, the pecking is their mating call to attract the female flickers.  And what a variety of sounds.  They will even peck on a stucco wall or metal chimney vent. And once they find a favorite spot, they can do real damage too. Oh well, at least it’s a sure sign that Spring is coming.

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Apr 03 2008

Real Estate is “local”

Published by under Real Estate News

Like politics, real estate remains mostly a local issue.  Here in the Cuchara Valley area our local real estate market continues to remain pretty stable.  We didn’t experience  the “creative financing” driven, overheated new construction and appreciation  run-up of the past few years, so haven’t been as vulnerable to the national down-turn as in other areas.   Buyers have slowed down over the past 6 months, but that’s as much a seasonal event rather than economic woes. 

Our local inventory of property on the market remains relatively low in relation to demand.  No glut in unsold inventory translates to no downward pressure on pricing, thus a balanced stable market condition.  New listings will increase in the spring as buyers begin to look around again.   Financing remains available although interest rates haven’t dropped quite as much as I had thought.  The rates are attractive now on conforming single-family loans.  The “jumbo loans” on larger properties still run about 1% higher than rates on a more conventional loan.  Overall, area prices continue to look attractive in relation to other Colorado mountain areas and we expect a brisk market season is on the horizon.  

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Apr 02 2008

Mickey Schmidt Wins

Published by under Local News Affairs

Local News headlines will certainly be the results of our Town election in La Veta.  Current Mayor Mickey Schmidt handily won the Mayor’s post.  None of the Trustee positions had opposition so all were elected.

Trustees are current sitting members Dale Davis, Dawn Blanken, Jesse Yarbrough and Jim Fowler.  New first-term Trustees are Tracy Webb and Don Keairns.  Our thanks and congratulations to Mayor Schmidt and all the Trustees.  We need their experience along with new progressive ideas to manage the people’s Town, to insure those critically important aspects of  preservation,  water,  managed growth and economic health.

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