Gunnison Country Association of REALTORS 2nd Quarter 2014 Report

Q2 – 2014

Housing seemed to have a slow start to the spring selling season, but appearances deceive. Dig into that spring soil and you begin to unearth differences in individual areas and market segments.  Inventory is slowly rising in some areas.  Activity is picking up in the upper price tiers.  Rents continue to climb in most metros.  Add interest rates are generally lower than a year ago, to the surprise of some and the delight of others.

Local market update for Lake City (81235) comparing second quarter 2013 to 2014 – New Listings were up 36 percent for single family homes and 100 percent for townhouse-condo properties.  The Median Sales Price was up 36 percent to $230,000  for single family homes and Sold Home Listings up 25 percent.

Housing is one part of a broader ecosystem that thrives on a strong economy that churns out good jobs.  First-quarter employment figures were adequate but not thrilling, but second-quarter numbers figure to be more positive.  Access to mortgage capital remains an ongoing concern.  As cash and investor deals fade, first-time buyers typically step to the forefront, but tight credit can and has been a real hurdle.

This information is provided by the Gunnison Country Association of Realtor’s:  Quarterly Indicators Q2-2014

Denver Life Magazine Article 2014

The Town of Lake City was featured in the July 2014 issue of Denver Life Magazine!  Check out the article by clicking here.

Lake City Area Photos by Bobbi McDonald

Bobbi (my Sheriff’s Assistant) shot all of these photos yesterday (June 29, 2014) near Deer Lakes and coming off of Slumgullion Pass.  For those of you unfamiliar with our county, Uncompahgre Peak is incorporated into our shoulder patch (designed by former Sheriff Burton Smith) and our badges (designed by me).  Enjoy.
Ron Bruce, Hinsdale County Sheriff
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Mama and baby moose
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I was hiking up the trail and he was coming down
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Another Moose
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Uncompahgre Peak
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Crystal Peak
 Thank you Bobbi for sharing your gorgeous pictures.

B. & N. Scott, Tulsa, OK

“When we fell in love with Lake City in 2003 and decided to move there, Jeff and Danielle helped us find and purchase our home.  After 10 wonderful years when due to declining health and advancing age, it became time to move closer to family, they successfully helped us sell the house in a very short time.”

S. & C. Bettley, Allen, TX

“Hall Realty has been a part of our lives for over 20 years.  We have used Annette for all of our summer rental needs during this time.  When we finally made our purchase of our retirement home, here in Lake City, Annette, Jeff, and Danielle made it so easy and personal.  Thanks again FRIENDS!  Hall Realty is professional, friendly, and definitely the Realty Company to use in and around Lake City.”

S. & K. Dickson, Shreveport, LA

“When we inquired about buying a house in the Lake City area we were pointed to Hall by previous happy clients. I can see why.  From the start to the finish it was thorough, professional, and fun.  This is how realty should be but seldom is.  Our hats off to Danielle and Jeff on their 36th”

Gunnison Country Association of REALTORS 4th Quarter 2013 Report

Overall 2013 proved to be a good year for housing.  Home sales and prices were better than the previous year in Colorado and across much of the nation.  Foreclosures in Colorado continued to decline, along with the number of homes for sale and the number of days it took to sell a home were also lower.  Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs.  This, of course, varied by location and market segment, but the proverbial glass appeared to be more than half full throughout the year.

Within the 81235 (Lake City) zip code, New (residential) Listings increased by 27.8 percent and Closed Sales increased slightly by 4.8 percent.  Median Sales Price for single family homes increased to $298,500 with Days on the Market also increasing to 303 days.  The Percent of List Price Received remains virtually unchanged at 90 percent.

Housing is fortified by confident consumers and good jobs.  2013 was marked by a slowly improving labor market and a stock market up nearly 30 percent from this time last year.  Interest rates remain low (but moving up and prices are still affordable).  It’s no wonder that buyers were active in 2013.  Here’s to more of the same in 2014.

Please note that the above information is based on residential properties.  If you would like more detailed 2013 fourth quarter reports for all Gunnison County and Hinsdale County, please contact [email protected].

Happy New Year 2014

Wishing you a Happy, Healthy & Prosperous 2014!  Hall Realty has been celebrating 35 years of service to our friends and neighbors in the Lake City area.  Jeff & Danielle Worthen, Annette Anthony and Barbara Apfelthaler would like to take this opportunity to send a special thakn you to the community for your continuted support.  2013 was an incredible year for our business.

Press Release from the Discovery Network

The Discovery Channel Network is launching a new show called Destination America’s Buying Log Homes.  The show premiers December 28, 2013 on DishTV channel 194 and DirectTV channel 286 at 7:30 pm MST.  In the Lake City episode, a newlywed couple is looking to purchase in the Lake City area and see 3 premier log homes.  Two of the homes seen are Hall Realty listings MLS#36718 and MLS#35299.

Modular versus Manufactured Homes

MODULAR:  meets UBC (Uniform Building Code) guidelines.  Basically, it is a stick built home that was prefabricated elsewhere – placed on a trailer and brought to the site.  It is then removed from the trailer, and placed on the foundation.  It can be compared to stick built homes on an appraisal and the same appraisal form is utilized for a modular home as for a stick built home.  It will have all wood support beams, so if you crawl under it, the ONLY metal you would see would be possibly the center “I” beam.  The rest of everything underneath the home should be wood.  Remember “wood is good”.  A unit of this type NEVER had a title, will not have to be purged, and never had wheels, axel, or a hitch.

MANUFACTURED HOME:  meets HUD (Housing and Urban Development) guidelines.  This is a “trailer house”.  It is built on a metal trailer or Chassis.  It was brought to the site and the wheels, hitch, and axel were removed, and it was placed right on the foundation – so the trailer becomes the subflooring.  It will have ALL METAL underneath the unit.  The hitch, wheels, and axel may or may not have been removed.  There would be red metal HUD tags (about 3 inches by 5 inches) on each half of the unit at the time it was delivered, which may or may not still be present later at the time the property is resold.  This unit has a VIN number just like a car, so that title must be “purged” so the house is then taxed as real estate along with the lot.  There are also sometimes stickers present under the sink or by the furnace or hot water heater that would indicate that the unit is a manufactured home.  The appraisal MUST be on a “manufactured home appraisal report” and all comparibles should be manufactured homes.

Realtor, Equal Housing, MLS