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.

Posted on Monday, December 22nd, 2008 at 10:38 am and is filed under Questions and Answers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.