Ninah Hunter

I was pleasantly surprised to see an upsurge in real estate activity, beginning in April. I thought it might be just a fluke, but I'm happy to report, since then, we've been experiencing a steady flow and increase in activity, by which I mean more buyers are looking, more buyers are buying, and more sellers are listing. I will admit, some of those listings have also been a result of an increase in foreclosures. Of course, lending continues to be a big challenge, making it harder and longer to close deals, sometimes causing a transaction to fall out completely (as I experienced just last week). Ah, sigh! We will get through this! So, buyers, don't get discouraged, and sellers, please be patient. Basically, the financial institutions are dictating the closing date. In general, I'm encouraged by what appears to be a combo of continued low interest rates, buyer incentives (i.e., the first time home buyer $8,000 tax credit), a boost in consumer confidence, and just the usual high, summer selling season.

So, to give you a feel for our market, here are the following MLS residential sold statistics for May and 2009 year-to-date (as I obtained from our regional CREN MLS):

No. of Listings Avg. Price Median Price Avg. Days on Market

YEAR-TO-DATE

MONTROSE COUNTY

146 $210,516 $190,050 148

DELTA COUNTY

90 $175,334 $165,000 226

OURAY COUNTY

7 $421,571 $272,000 238

MAY 2009

MONTROSE COUNTY

39 $205,463 $202,000 152

DELTA COUNTY

27 $174,070 $160,000 209

OURAY COUNTY

2 $277,000 $277,000 319

Overall, we're down anywhere between 40-50% in sales volume over last year, but then we were down about the same last year relative to 2007. However, values have remained fairly level, down in some sectors, and up in others. County Assesors are scambling to explain why assessed values are up while recent real estate markets are down (see my earlier post on valuations). In general, we're blessed on the Colorado Western Slope not to have experienced the huge pendulum swing downward as in other areas of the country. What hasn't changed are our fantastic quality of life and beautiful climate and scenery. Now is a great time for anyone to buy here, whether a first time homebuyer, retiree, second/vacation home buyer, or investor.

~Ninah

I must admit I was a bit skeptical the first time I was encouraged to attend a performance of the Montrose Magic Circle Players. I love legitimate theater and was quite spoiled having grown up in San Diego County with incredible live theater venues, like the Old Globe Theater and La Jolla Playhouse. But my office adminstrative assistant, Kat Govan, who has been involved for years in anything musical or theatrical in Montrose, encouraged me to go and support it. I finally saw my first production in May, 2007, of the musical comedy, Crazy For You, featuring the music of George Gershwin. As it turned out, the leading role was played by a fellow Realtor, Denece Crowe, her first appearance with the Players. I was blown away! Not only by Denece's incredible performance and voice, but the entire production, from the entire cast, set, costumes, lighting, music, and the obvious behind the scenes effort of directors and stage hands. Another Realtor colleague, Diana Weaver, also had a fun part in the show as a quirky, bimbo blond chorus girl. Boy, was I impressed!

Since then, I've seen every show from 2007 to the present, and have been thoroughly entertained and impressed with each show. I've seen quite a few friends and colleagues who play a part in the production. MCP welcomes anyone to audition and participate in anyway, regardless of prior experience. In fact, those participating for the first time are given recognition. The latest production is the musical comedy, Cinderella, which doesn't dissapoint. This weekend is the last chance to see it, Friday and Saturday at 7:30 p.m. and Sunday, at 2:00 p.m. If you get the chance, go see it! And if you miss this one, be sure to put future productions on your calendar.

This year, MCP celebrates its 50th anniversary. Click here for a nice article in the San Juan Silver Stage on its history. A great article appears in the Spring/Summer edition of Destination Montrose, which hasn't yet made it online, but keep a look out for it in the printed edition distributed throughout the Montrose area. I'm now a proud business patron of MCP. And who knows? Maybe some day I'll be up there on that stage!

~Ninah

Crazy for You-May 2007 Shenendoah-November 2007 Once Upon a Mattress-march 2008

It's been about a three months since Obama's stimulus plan was first announced and then the details revealed on March 4th. It does seem to be having a benefit in boosting sales activity in Montrose and the other Western Slope communities we serve. And now there's more talk about improving upon it, by allowing its use as a down payment for FHA loans, and there's a push to get it extended beyond November 30, 2009, increased to $15,000, and to expand it to all buyers, not just first-time home buyers. I'll report more on that if and as anything changes.

In the meantime, what suprises me is how many consumers and even industry affiliates to whom I and my broker associates have talked to recently are still not aware of what is being offered, despite the plethora of news reports, blogs, and media coverage on the subject. So, I'll summarize very briefly here what the Homeowner Affordability and Stability Act may be able to do for you.

There are 3 components: (1) The $8,000 tax credit to first time home buyers (which is anyone who has not owned a home in 3 yars); (2) Refinancing; and (3) Loan Modifications.

Regarding the tax credit, it is not money made available to you to purchase your home--yet. But if you purchase one between 1/1/09 and 11/30/09 (i.e., before December 1st of this year), you can apply for the credit on your 2009 tax return (or on your 2008 one if you haven't filed it yet and have already purchased your home this year). You can then apply the credit against taxes owed, and if you don't use up the entire credit, you get a refund. Then, you can use that refund toward your new home, like upgraded appliances, landscaping, fencing, fix-ups, etc., or for whatever other purpose not related to your new home. For more information, consult with your tax advisor and visit the Tax Credit Web Site.

Regarding the loan modifications and refinancing, both of these programs are intended to assist distressed homeowners who want to and are able to keep their home. The loan modification will allow a homeowner to renegotiate and revise the terms of the existing loan or loans in order reduce payment amounts. The refinancing is intended to help those homeowners who have been precluded from refinancing or consolidating loans because their home has depreciated in value and the existing loan or loans are now more than 80% of the value of the home. Call the Homeowner's Hope Line at 1-888-995-HOPE (4673) for more information and to see if you qualify for loan relief. Or check out Making Homes Affordable.

If you're looking to buy in the Montrose area, this is a great time to do it, not only because of the tax credit and still historically low interest rates, but because we have lots of inventory of relatively affordable homes to choose from. Don't let this opportunity to own a home, or buy up or down, pass you buy!

Wishing you all find some relief,

Ninah

Montrose, small town, family-oriented, close to the earth, community-focused, and then there's Home Depot, the big corporate, big box company governed from corporate headquarters in Atlanta, Georgia. Forget the roots of its beginning. Today, as I learned from my partner, Annabel, a 5-year employee of Home Depot in Montrose, the directive from Above is that all personal photos of friends, family, and whatever had to be removed from employee lockers and all buttons with personal photos were forbidden to be worn on the company apron during work. No explanation (could there be one?). Well, what a boon for employee morale! That should serve the customer well, don't you think? If you think this policy is as ridiculous as I do, please let your local Home Depot know, and pass this around. If someone wants to attempt a logical explanation for the policy, bring it on! Here's one of the photos Annabel had to remove from her locker (our Airedales in our Jeep at Engineer's Pass):

Incredulously,

Ninah

Congratulations to Judy Grubbs, the winner of the People's Choice Trophy at the Black Canyon Classics Car Club show held Sunday, May 17, 2009, in Montrose, Colorado. Judy is a 8-year resident of Montrose, transplanted from "the other side of the mountain." Her winning entry is a 1969 Plymouth Barracuda. The engine is a 426 Hemi 4-speed tranny. She's owned the car since 1981. She gives credit to the lots of blood sweat and help from family and friends who got it into its present condition in 1989. Judy has been showing it ever since and having lots of fun with it. Here's a photo of Judy and her Barracuda with trophy.

Here's a photo of my friend, Randi Levine of Alpine Bank in Montrose, a first-time show entrant, with her 1981 Toyota pick up truck. She's a winner in my eyes!

And this is my friend, Jack Spiri (aka "Happy Jack"), a veteran at these shows, with his 1955 Porsche Spider, which as been a people's choice winner many times.

For the classic car enthusiast, there is always such a variety of classic cars at these Black Canyon Classics Car Club shows. So, check out their website for their scheduled events, occuring in different locations around Montrose and the Western Slope throughout the summer. Enter your car, or just come to admire the great cars and cast your vote for your favorite.

Congratulations, again, to Judy!

~Ninah