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Old 06-24-2016, 06:58 PM   #21
Thinks s/he gets paid by the post
Join Date: Apr 2013
Posts: 3,915
Originally Posted by Ally View Post
I think it's a great idea to rent over a winter. I bet there are probably some available vacation homes. I'm not sure if the economy has recovered there, but 4 years ago, there were many vacation homes for sale or lease. Pagosa Springs went through a boom time and then a time when they had the most foreclosures in the country in vacation homes. We were trying to sell just after that period and our buyer could hardly find a mortgage company willing to lend in PS for a second home. Not to mention, it took weeks, sometimes months, to get electricians, appraisers, and plumbers to do work for the sale. We would have gladly leased the home till the market improved.

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Thank you.

Interesting about the real estate prices especially vacation homes. From what I've been learning, many of the vacation homes are folks from TX, I hear it's cooler here. So when the TX economy moves so moves the price of PS real estate. Between the minor financial events of the late 2000s and fluctuations in oil money in TX think I understand the volatility. I actually saw the records on a property on Grimes Creek where some poor person appeared to lose 50% on a 400k home between 2009-2013.

County website shows a pretty good recovery now but still not back the highs. Compared to Durango or the front range this place is very affordable. Small town living isn't for everyone, it does have a lot of appeal to us. We both grew up in PA in a small town(Williamsport) that had a week of tourism late summer and then back to normal.

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