It’s Caddis Hatch Time Again.

It could be argued the next couple of weeks, until runoff, are generally not good ones to be a fish on the Arkansas River. The reason, indirectly, is the proliferation of the small, moth-like caddisfly. Not that they themselves cause any harm to the fish. On the contrary, they form the backbone of a trout’s diet on the Ark. There are something like forty different species of them present in the river, and fish feed on them year round, either in their nymphal or adult forms.

This time of the year, one particular species hatches en masse, causing the fish to gorge themselves on the bounty. Unfortunately for the browns and rainbows in the river, the hatch also attracts hordes of fishermen from across the country who add their artificial flies to the mix of real ones on the water.

Driving the highway, it seems at times it can seem there must be more fishermen than fish out on the water. The reasons for the popularity of fishing the hatch are varied. It is in its own right a celebration and reaffirmation of the bounty of nature. It also comes at a time when many other rivers are high and murky due to run off, and therefore not fishable. Plus, for most fly anglers, there is little more exciting or rewarding in the sport than catching a fish on a dry fly.

 

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Why Green Makes Sense

There are sound reasons, beyond the obvious environmental benefits, why it makes sense to “go green” when considering purchasing a new home, or upgrading your exiting abode. According to Trulia, while many of us agonize over whether or not adding that fancy home theater system of granite countertop makes financial sense, we overlook some far simpler upgrades that save money now and add value in the future.

Recent studies show that for every $1 a green improvement reduces your energy bill, it adds from $10 – $25 to the value of your home – an increase of anywhere from $8000 to $25,000 for a 3000 square foot home. The same goes for solar panels, which can add up to $17,000 to the value of your home.

As well as adding value and comfort to your home while you live in it, if you are thinking of selling, today’s buyers are actively searching for homes that offer green features. The US Department of Energy recently completed a study that showed that solar homes sold twice as quickly as a home without solar panels, even in a “down” market.

While some energy-efficient improvements can be costly – replacing windows springs to mind – others, like weather stripping and insulating pipes and crawl spaces, are relatively cheap and easy, and yield instant benefits in comfort and savings.

So while going green is the socially responsible thing to do, there are also many “selfish” reasons why it makes sense.

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Introducing….

We are proud to introduce three new agents to our fold. All have taken differing paths to the Pinon door, and each brings a unique skill set and energy that greatly enhances our commitment to Knowledge, Spirit and Imagination.

Originally from Madison, Wisconsin, Kim Bouldin has called the Upper Arkansas Valley home for 17 years. In addition to raising her two children, Kim and her husband own and operate a successful pizzeria and micro brewery. Additionally, she finds time to be actively involved in several community organizations including the Alliance Against Domestic Abuse, fundraising for the local elementary school and the annual “Women’s Happy Hour For A Cause” event, of which she is the founder. If all that isn’t enough, she also finds time to be a key member of Salida’s local women’s roller derby team.

Lacey Scott first discovered Salida on skiing vacations as a child with her parents, visiting from her home in Kansas. With degrees from Pepperdine University and Wake Forest School of Law, Lacey pursued a career in law in Denver for five years, including construction law and environmental engineering, where her interest in real estate was kindled, and latterly at the State Attorney General’s office. After she and her husband Michael found themselves spending all their leisure time skiing, biking and kayaking in and around Salida, they decided to turn their back on the big city and move to where their hearts lay.

 

A native of Minnesota, Brenda Dempsey has been a resident of Colorado for thirty five years, including the last twenty as a realtor in the Metro Denver area. She recently moved to the Chaffee County for the natural beauty, community and lifestyle. Despite the change of scenery, her passion for real estate remains undimmed, and she feels her knowledge, experience and commitment to the highest ethical standards is a perfect fit for the region’s leading real estate brokerage.

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Lower Flows Likely For Summer

After several years of boaters enjoying higher than average run off on the Arkansas River, it looks like this year will see greatly reduced flows on account of this year’s below average snow pack.

At 52%, the Upper Arkansas River drainage reflects that of average snow pack state wide. While comparisons are being made to 2002, when drought conditions caused water shortages across the state, this time around reservoir storage is in much better shape, and should alleviate the worst effects of a lower run off.

Here in the Arkansas Valley, this will likely manifest itself as diminished run off  for late May and early June, followed by lower than average flows throughout the summer. While rafters and kayakers may be disappointed, fishermen will be looking forward to the increased opportunities that come with lower flows, while for bikers, trails like the Monarch Crest should be free of snow and rideable earlier than the traditional first-week-of-July opening.

What effect the diminished run off is likely to have on ranchers and other water users remains to be seen, although those with junior water rights will be hoping for a late spring surge in storm activity if they are to be able to irrigate as usual.

All in all, the lower snow pack serves to remind us that ultimately, it is Mother Nature, and not ourselves, who call the tune.

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Rising interest rates – it’s not all bad…

The last couple of weeks have seen mortgage rates on the rise, but this is not necessarily a bad thing for the housing market.

For one thing, an increase in interest rates will see more private investor money flow into the mortgage backed securities market. Investors seem to be tiring of the meager returns from Treasury securities, and are looking for opportunities to increase yield.

This in turn will lead to a greater variety of funding being available to the consumer, as lenders will no longer need to adhere to the strict guidelines mandated by Fannie Mae and Freddie Mac. While this may mean a slow down in the refinance market, it has to be a good thing for the housing market in general, particularly as economic growth and employment outlook brightens.

Certainly, current data supports the conviction that we have turned the corner in the housing market. New home starts and existing home sales are both showing sustained growth, and the National Home Builder’s Association reports optimism is at a five year high. This optimism seems to be borne out in the financial markets in general, with both the S&P and Dow approaching four year highs.

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New High School Construction Continues Apace

It is a case of goodbye to the old, hello to the new, as the construction of the new Salida High School moves on to its next phase.

This week sees the commencement of demolition of the Andreas Field House, with the removal of the remainder of the old high school buildings set to begin early June, once the school year is ended and the removal of books and supplies is completed.

At this time, construction of the new high school is on target, and is due to be completed early August, in time for the start of the new school year on August 20. The final phase will see the completion of the new track, field and stadium in time for the Salida Spartans’ first home football game on Sept 7 – 8.

Once completed the new high school will be state-of-the-art 90,000 square foot structure, featuring energy efficient design and construction, along with the ability to utilize the latest in teaching technologies. Along with the recently completed Heart of the Rockies Medical Center, the new high school will give yet another reason to call Salida the best little mountain town in Colorado.

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Home Sales Surge

Ask most realtors around town how business is going right now, and the general consensus will be that, especially given the time of year, the market is active. Some properties, particularly in-town residential, going under contract the same day they hit the market.

This local trend is being backed up by home sales figures nationally, with the National Association of Realtor’s pending home sales data showing more people are signing contracts to buy homes than at any time in the last two years. The last time the market was this active was in April 2010, spurred on by the first time home buyer’s tax credit program.

The index of measure currently sits at 97, up 8 percent from a year ago. The benchmark for a healthy market is set at 100. Locally, home sales have increased over ten percent YTD over last year, according to Chaffee County Board of Realtors figures.

This improved market is down to a combination of factors – brightening employment prospects, high affordability, rising rents and continued low interest rates are all playing their part. Lawrence Yun, chief housing economist for the National Association of Realtors says these factors are “hopefully pushing the market toward what appears to be a sustained recovery.”

Anyway you look at it, the Upper Arkansas Valley is a great place to live, and now is a great time to be buying a home here.

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There’s lots brewing in Salida

July 14th sees the 16th annual Colorado Brewer’s Rendezvous at Riverside Park in downtown Salida. One of the highlights of the summer festival schedule, it attracts dozens of brewers and hundreds of beer aficionados from all over Colorado and beyond. However, not only is Salida a great town to come sit by the river and drink beer, it is also garnering renown for its very own growing microbrew scene.

Whether it is something in the water, or something in the air, but this small town in the Rocky Mountains is currently home to three distinct microbreweries. While many, locals and visitors alike, have sampled the fine hand crafted ales offered by Salida’s award winning original brewery, Amicas, there are two new kids on the block, quickly developing a following of their own.

Long time locals favorite Moonlight Pizza have recently expanded their premises and added an on-site microbrewery to compliment their range of delicious pizzas. The intent, says Scott Bouldin, master brewer and business co-owner with his wife Kim, is to brew “none of that fancy-schmanzy stuff, but beer for the worker bees, for the beer drinker who just ran a marathon, or swam Zoom Flume ( a Class 3 -4 rapid in nearby Browns Canyon.)”

The latest entrant in the brewing scene is Elevation Beer Company, located just down the road in Poncha Springs. At the time of writing, Elevation is putting the finishing touches on their state-of-the-art brew house, where they will become one of the few breweries in the country to specialize in small batch, barrel aged artisan beers.

So, if all that skiing, boarding, biking, hiking, fishing, kayaking and rafting sees you left with a thirst at the end of your day, this is yet another reason Salida is a pretty good town to find yourself in.

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To Sell, Or Not To Sell?

One of the questions we, as real estate professionals, are asked time and again by home owners thinking about selling their homes is this: “Is now a good time to for me to be selling?” To which the considered response is invariably : “Perhaps.”

Many home owners are reluctant to put their properties on the market until “things get better”, meaning until the economy recovers and values return to their pre-recession levels. The problem with this rationale is that while all this waiting is going on, life is passing by. One thing is for certain – the recovery of our economy, both locally and internationally, will be a long, step-by-step process. In the meantime, there are other factors to consider that, while not strictly economic, are no less important in formulating the decision on whether to list, or not to list.

Quality of life plays an important role here. Will selling and relocating enable you to cut down on a long commute? Is your current home now too large and difficult to maintain, or too small, owing to a change in family circumstance? Will upsizing enable you to finally have that extra home office space your business has been demanding? Will selling enable you to move closer to the people you love and the things you value? Are you no longer able, or prepared, to meet the cost of owning a home?

All these factors play into making the final decision. In the meantime, it is important to consult with your local, trusted realtor to ascertain the current market conditions, approximate value of your home and likely time on the market, as well as considering what you will be in a position to afford when your home does sell. This kind of knowledge and input is invaluable in helping you come to an informed, proactive decision, and no one knows the nuances of your market better than a trusted realtor.

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Credit Scores: How do they work?

When applying for a loan, now more than ever, lenders are looking closely at a borrower’s FICO, or credit score. This score is based on hundreds of different inputs, taken together to assess a borrower’s credit risk. The higher the score, the greater the likelihood of qualifying for a loan, often at better terms. Understanding how a FICO works can be key to positioning yourself to qualify for a loan, so lets take a closer look at the different components of a FICO, and what you can do to maintain and improve yours.

Not surprisingly, payment history makes up the biggest component, 35% of your score. Payment history is a measure of how you have handled repayment in the past, and consequently your likelihood of default in the future. The key to improving or maintaining a high score here is simple – always make payments on time, even if an item is in dispute. Worry about the refund later.

Next up comes the amounts you currently owe, comprising 30% of your score. This measures how “maxed out” a borrower is. It is not about the dollar amount you are borrowing as much as the dollar amount relevant to the amount of credit available to you. This is where not closing out old credit cards or lowering credit limits works in your favor. Having access to credit, but not necessarily using it, is a good thing.

Third on the list, at 15%, is your length of credit history. Experienced users of credit are rated higher than new users. So if you have a credit card with history – don’t close it out. Show the lender you are used to handling credit.

Recent attempts to secure new credit comprise 10% of your score. If you have recently applied for a new credit card, for example, this is often seen as a bad sign – a borrower in search of more credit. An application for a mortgage is treated differently, and does not affect your FICO in the same way.

Lastly, also at 10% is the type of credit you carry. Mortgages and student loans, for example are considered “better” than credit and charge cards, as generally their balances can only go down, eventually to zero. Store charge cards are the worst – their interest rates tend to be higher,and suffer under the FICO model.

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