Stay for a Lifestyle

Salida has seen an upturn in homes sold in May, June and July.

In May 2011, 12 homes sold compared to May 2010 sales of 10.

In June 2011, 16 homes sold compared to June 2010 sales of 14.

In July 2011, 18 homes sold compared to July 2010 sales of 5.

23 homes are currently under contract as of August 9, 2011!

In terms of financing, here is a breakdown:  new loans dominate at 67% (with one USDA loan), 22% were cash sales and 11% were owner financed.

Good news for summer sales!

The current absorption rate (inventory vs. sales) for homes in Salida is 2.91 years.  In 2010, the rate was 2.83 years.  For sellers, a high AR requires a lower asking price. 

Because AR is over six months, sellers must price aggressively or risk losing money.  One Realtor suggests pricing at 10% less than competitive homes.

Submitted by Leslie Walker, REMAX Mountain River, 115 F Street, Salida, CO, 719 539 8879 or 719 539 6060 or leslie@buysalida.com or www.buysalida.com.  EXPERIENCE YOU CAN COUNT ON!

Some reasons to use a local lender (per the bank):  Good financing options, in house or secondary market, all underwriting is done in house (this is a big deal!), which results in fast turnaround time, same day pre approval, loan officers are trained to pre underwrite files so there is less chance of problems at underwriting, in touch with local markets, and all appraisers are local. 

Some reasons to use a local lender (per Leslie Walker):  Loan officers shop where you do, attend the same community functions, serve on the same boards.  They offer funding for special properties, such as vacant land, farms/ranches or mining claims.  It's not a one-shot never-meet-your-broker and wire-the money-loan, it's a long-term relationship. 

High Country Bank, based in Salida, has announced new rates for in-house loans, which are easier, faster and different than those sold on the secondary market.  Current rates are:  30-year fixed 5.625%, 3-year-arm 3.5%, 15-year fixed land loan 7.25%, loan for construction loan - owner occupied or second homes - 6%.  Rates and conditions may vary.  Contact www.highcountrybank.net.

Submitted by Leslie Walker, REMAX Mountain River, 115 F Street, Salida, CO, 719 539 6060 or 719 539 8879 or leslie@buysalida.com or www.buysalida.com.  EXPERIENCE YOU CAN COUNT ON!

Monarch Ski and Snowboard Area plans another $8.5 million in expansion and upgrades over the next five years.  The area has experienced 32% increase in visitors and revenue has doubled since 2002. 

One local owner says, "Keeping it about family skiing is a mantra at Monarch."  The area has added a new rental gear and new ski school shop, expanded food and retail.  They have aggressively marketed. 

Another investor says, "A family can come here and spend four days for the price of one day at Vail." 

As a senior my season lift ticket cost about $260 and included discounts or free tickets to about a dozen other ski areas plus dollars off local restaurants.  Weekend snow amounted to about 30 inches! 

Salida and Buena Vista often host Ride the Rockies, an epic bike tour.  The  2011 Denver Post Ride is an annual bicycle tour.  The 2011 ride takes 2,000 cyclists on a week-long trek through Colorado's Rocky Mountains. In its 26th year, cyclists will be treated to 6 scenic mountain passes, 1 loop ride and 22,000 feet of vertical gain over the course of 6 days and 412 miles. Cyclists will begin their journey in the picturesque mountain town of Crested Butte and finish on the historic streets of Georgetown, Colorado.  Buena Vista hosts cyclists on day 1.  

Registration is open until February 25 and participants are selected at random.  See www.ridetherockies.com. 

I have done this ride twice and highly recommend it for the scenery, camaraderie and sheer grit.  It will take you months to prepare and days to recover!   Leslie Walker, REMAX Mountain River in Salida, CO

Our small, but avid cycling town has been chosen to kick off the first mountain stage start of the inaugural Quiznos Pro Challenge cycling tour.  Organizers anticipate that one million fans will be following 128 of the world’s top professional cyclists as they compete through six stages and nearly 600 miles of Colorado landscape. 

Organizers expect the race to become one of the most significant international pro-cycling events worldwide; it was created to reinvigorate the legacy of the Colorado-based Coors International Bicycle Classic from 1979-88.

The event will begin with a prologue in Colorado Springs Aug. 22. On Aug. 23, cyclists will ride from Salida to Crested Butte; Aug. 24 will be from Gunnison to Aspen; Aug. 25 will be in Vail; Aug. 26 will be from Avon to Steamboat Springs; Aug. 27 will be from Steamboat Springs to Breckenridge; Aug. 28 will be from Golden to Denver.

More than 4,000 volunteers are needed for support along the route.  What an opportunity!  I applied weeks ago for a job as course marshall.  See www.quiznosprochallenge.com.