The first place to start is with the selection of a qualified, experienced full-time Pagosa Springs real estate professional. You would be wise to choose a broker that has worked during more than the recent up-cycle of real estate. You will be better served by choosing to work with a broker that gained valuable experience during the real estate downturn of the 1980′s. The current market has many similarities to the challenging market of the 1980′s. You do not want a broker to gain an education in this market at your expense.
First, your broker should provide you with a solid background on the current Pagosa Springs market conditions. That would include an overview of the inventory in each real estate category, how that compares to the long range averages, what the price trends have been are how the trends have changed over the last 24 months.

Your broker should also give you information on Pagosa Springs foreclosure properties so that you can identify any favorable opportunities within bank-owned real estate inventories. You will also want to know the average discount to asking price for properties and the average number of days on market. You need to compare all these figures to the long range averages in order to gain useful market baseline information. If the broker you are working with cannot help you obtain this valuable information, find another Pagosa Springs broker-right away.

If you enjoy the great outdoors, Pagosa Springs is your town. We have over 2 million acres of National Forest, including 500,000 acres of Wilderness Area. Because Pagosa is not real close to a major metro area, our resources are not over-used like other National Forest areas close to the city. Within the San Juan National Forest we have many miles of wonderful hiking, mountain biking and horseback riding trails with spectacular scenery and wildlife. The Pagosa Springs area has streams and creeks teaming with trout for exceptional fly fishing, huge forests of Aspen and old growth Fir and Pines. The San Juan River runs right through the downtown area with great rafting and kayaking in the spring and summer. Pagosa Springs has a 27 hole Championship Golf Course, just west of downtown, a Recreational Center with indoor pool, Jacuzzi, exercise facilities, racquetball courts, etc. Also west of the town of Pagosa Springs is the Chimney Rock Archeological Center, and southwest is Navajo Reservoir for water skiing and sailing. You can also access great Jeep and ATV trails that lead up and over the Continental Divide to the old mining ghost town of Summitville. In the winter months we have many miles of maintained cross country ski tracks and great powder skiing at Wolf Creek Ski Area just 22 miles east of Pagosa Springs. We also have fabulous snowmobile trails within the San Juan National Forest for all level of riders. If you enjoy a mountain lifestyle, you will really like Pagosa Springs.

Costs vary according to size, type of construction, quality of cabinets, flooring, appliances and finishes. We see prices ranging from $200-$400 per square foot. Generally a stick frame built home will be less costly to build than a full round log home. Radiant in-floor heat will cost more than forced air heat, but the monthly utility expenses may be lower. You may want to use a local architect if you are considering spending $500,000 or more to have a home built. We can provide you names of qualified local architects if you choose to go that route. We can also help you find the best builders from among the dozens that are in Pagosa Springs.

Yes, there are a number of regional lenders within Pagosa Springs as well as a national bank, Wells Fargo. We have relationships with all of the good lenders in our market and can help you find the best mortgage product and price for your needs. In spite of the chaos within the industry, with good credit and a down payment, there are plenty of financing options available. Rates are very attractive and with the number of listings offered, now is a great time to buy in Pagosa Springs, Colorado.

A few more than normal but not an abundance as compared to metro areas. Many of the homes in Pagosa Springs are vacation or second homes. Many have little or no debt against them. We have never had any production builders that flooded our market with surplus inventory. Also, we did not have the level of mortgage abuse that other areas experienced, and much of the lending was handled locally where more scrutiny of values and borrower qualification was practiced. Still, we have a few and with careful scrutiny some represent very good values in the current market.