Category Archives: Real Estate Investing

Spring Beauty in Pagosa Springs

I ran across this photo posted on Pagosa Daily Post this morning.

The spring-like weather has ushered in scores of Spring-Breakers to take advantage of Wolf Creek’s abundance of snow. The streets are full of license plates from Texas, Oklahoma, California, Arizona, Utah and Nevada to name a few.

Here in the office we are also getting scores of buyer’s looking for Bank owned and Foreclosed homes. They are picking them up from $90 to $100 dollars per square foot, well below replacement costs.
Spring Morning in Pagosa Springs

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Pagosa RE Investment Deal-Of-The-Week 253 Wilderness Dr

In response to the comment I get 20 times a week…”Chris, let me know if a screaming deal comes along…” I am going to attempt to post what I feel is one of the better  real estate investment opportunities every week here on Peak Buzz.

253 Wilderness Street Pagosa Springs Colorado

Asking Price$165,000  now $144,900253-wilderness

MLS#- 616544

Square Feet– SEE COMMENTS BELOW

Bedrooms– 4

Bathrooms– 2

Year Built– 1997

Subdivision– Lake Forest Estates

Garage– 1 car

 Here is my opinion on this home-

THE UP

It sits in a good location of Lake Forest Estates just a short jaunt to the grocery and shopping, so on the location for re-sale I give it an 8.5. The listing agent has it in the MLS for 1095 square feet which would make it about $132 dollars a square ft which is only a good price in this market for this caliber of home. After showing it to some customers a few weeks ago this number of 1095 did not sit very well with me, I felt it was much bigger. After talking to the county folks they tell me it is almost 1300 square feet. (1268 to be exact). This puts the price per square at around $114…I like that much better. I give the price a rating of 9 right now.

THE DOWN

  The home needs some updating so for condition I give it a 7. The layout of the 4 bedroom design does not work well, however remove one wall and expand your living, then update your kitchen and equip it with upgraded doors and paint and…

THE ALL AROUND

…I think someone could make a a few bucks on this one. The curb apeal is nice and doesn’t need too much. That’s my take on it. I would love to hear yours.

Give me a call if I can help you see this one and be sure to check out it’s location and more information below.

Click Here for photos and a summary of this home

Click here for location via Google Maps

470 Heath Drive- Colorado Timber Ridge Ranch-$999,900

Colorado Timber Ridge Ranch offers the finest of Pagosa Springs. Luxury mountain living just minutes from the core uptown area. Panoramic mountain views, rolling hills, incredible mature evergreens all with paved roads and complete with underground utilities.

  470 Heath Drive -81147 is a fine example of what is available in Colorado Timber Ridge Ranch. Over 4200 square feet of custom Colorado charm. Have this haven of Rocky Mountain living all to yourself, or bring up to 23 of your closest friends! Complete with 6 bedrooms 4.5 baths, over-sized deck for entertaining, jaccuzie, 4 stall garage, media room, game room and located on 3 private acres. Contact Chris Liverett or Jon Johnson for a private showing.


470 Heath Drive Pagosa
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65 Granada Drive Pagosa Springs Colorado- Rental Investment

65 Granada Drive – Great Rental investment!
Main Photo

Location: Pagosa Lakes

Bring ALL your friends. This fun home was designed to house and entertain a troop (up to 18). Inside, a huge great room including kitchen, living room,breakfast nook and dining room are on the main floor. Downstairs, a giant playroom and party space will afford you and your guests hours of enjoyment.

Oversized decks and a double lot are a great bonus and all this is located minutes from the core area. Five bedrooms, 3.5 baths, 2 fireplaces and a cozyforest setting.

This bright and open home is currently being used as a short term rental property by it’s owners. It is their most popular rental. Why not enjoy the home fory ourself and allow others to help with your carrying costs? Situated in ever popular Twincreek Village, this home has so much to offer. Please schedule your visit right away.
Information
Contact Information
Chris Liverett
970-903-0481
Pricing
Asking Price: $519,000
Property Location
65 Granada Drive
Pagosa Springs , CO 81147
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Features
Bedrooms: 5
Bathrooms: 3.5
Year Built: 2000
Subdivision: Twincreek Village
Lot Size: Approx .5
Garage Size: 2
School District: Pagosa
Square Footage: 3750
Agent Name: Chris Liverett
Broker: Jerry Driesens
MLS #: 594756
Brokerage Firm: Jerry Driesens Real Esate
Attributes
Appliances
Range/Oven
Full Refrigerator
Dishwasher
Microwave
Interior Amenities
Fireplace
Kitchen Island
Vaulted Ceilings
T and G Ceilings
Exterior Amenities
Jacuzzi
Decks
Landscaped
Photo Gallery
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Best land purchase in Pagosa?

As I pulled up to the broker open house my phone rang again. The 505 pre-fix told me it was my New Mexico prospect calling to play another round of 20 questions. He is looking for land to purchase in our area between 250 and 300 thousand dollars. This particular conversation pivoted on his question “Chris, if you were buying land for this amount right now, what would you buy if it was purely investment?” As I quickly collated all of the recent conversations, facts, figures and opinions that had been floating in my head I gave him my best shot ending with the familiar phrase, “I would really like to spend some time with you looking at all of the options, there  is an awful  lot of personal preference involved.” This statement may sound like a vague cop-out, but only 10 minutes later these words were supported…

    I walked inside and participated in the usual broker open house routine. A walk through accompanied by the listing agent, a few questions and comments about location and quality of finishes, some constructive feed back about pricing and appearance and then… to the kitchen for some munchies.

When the dust settled on our initial conversation I found myself in the midst of a handful of Pagosa Springs real estate agents that I have a good amount of trust and admiration for. Jerry Driesens, Jon Jonson, Lee Vorhies and Christine Vorhies.  So I popped the theoretical question. “If you were spending this amount on land, what is the BEST investment?”

Honestly I expected a pretty similar answer but the response was as varied as the crowd to whom it was asked.

“The meadows will stay very strong” one said. “There you have elbow room, with space for horses, but you can still ride a bike to City Market.”

“Timber Ridge has all of the amenities and the right location”. “Very nice homes to support appreciation. After all , we are heading in to the prime baby boomer years, and they have the money to afford it.”

And then another, “Timber ridge is to new to have proven itself. Navajo River Ranch without a doubt. Thirty five acre tracts with all the amenities, and not to far down 84.”

I was cracking up inside. Only because I find myself having similar conversations in my head when I am striving to weigh all of the options for a particular customer or client.

  The reality is the area in and around Pagosa Springs offers a wide variety of flavors when it comes to preference. And we all have a little different take on life, so as time marches, on there will always be buyers and sellers of each type of property. Location, amenities, privacy, views or whatever the case. Individual preference carries much of the value of any property. I think dealing with the individuality of any land or home is  a large part of the appeal to me about this business.

 There’s a hat for every head, and the challenge and joy is to put those two together as succesfully as possible.

Elk hunting and real estate investing- the 3 P’s

Fall-my favorite time of year. I don’t know why it strikes me so strongly. I think maybe it is from boyhood memories of growing up in the South. The autumn temperature drop was accompanied  with an acute degrading of moisture content in the air. This was a very welcomed change. Along with the Fall change came the preperation for hunting season, a ritual that I still participate in though I live in a different place and time.

   As I paid my dues in the forest this year, my mind wandered to the disciplines involved in this endeavor known as big game hunting. Remarkably they are very applicable to many things in life. One of which is real estate investing.

So as my “Tribute to the hunt” (and my nod to the myriad of southern license plates affixed to an army of camoflaged 4×4’s) here are  3 principles that both successful  hunters and real estate investors have in common:

Preparation-

 Preparing to spend several days in the mountains of Colorado can not be pulled off without a little forsight. What will the weather be like? What is the best altitude for the type of game we are after this time of year? How far will we be from a good water source? You wouldn’t go into the hunt without adequately addressing these and a hundred other issues. As one begins the process of looking for investment real estate purchases many thing have to be considered. What EXACTLY is the economic tempo of a given real estate market? I don’t mean what is the media spewing, I mean what are the most current sales records conveying? Has the time-line of sales been studied for a specific neighborhood with seasonal adjustments made? There are factors at hand that are best spoken to by professional real estate brokers who live, eat and breath a specific market. They are excellent sources of information when it comes to preparing for investment purchases.

Planning-

Without a plan for Elk hunting in the mountains around Pagosa Springs, you will be just as effective sitting on the couch at LaTazza. (O.K. lame comparison. I happen to be writing this from there, it was the first thing that came into my mind.) To successfully get into harvest range of game you can’t just have a plan, you have to have plan A through F.- Virtually an  alphabet soup of back-up plans. In real estate investing having the proper plan to fit your desires is essential. What type of financing works best? Should you finance locally or elsewhere? What is you exit strategy should things change for you? As a real estate professional, these are the kind of questions that I field on a daily basis. It pays to have someone help you plan strategically for your real estate investments. Someone who can help you hatch a plan that is specific to you and your desires.

Patience-

 Wait for daylight, wait for the wind to change, wait for the rain to stop, wait for the right animal, wait for the right shot. The opportunities for increasing patience in the world of hunting are endless. Without the proper patience failure is in-evadable. It is no different with real estate purchases. Speaking from experience, ( and not a pleasant one) lacking patience will hurt you. It hurts in your wallet, it hurts in your intellect, emotions and spirit. Being patient also means having “patient” money. This is advice that you won’t get from all mortgage or real estate professionals. What I mean is if you are not buying with cash, are you able to hold the note for a long enough period of time? Banking on the “maybe” is a tough gamble in this line of business. Make sure you can withstand the weather if the winds  change. I have spent too many hours this year consoling sellers who are “just trying to get out” because they were not allowed the luxury of patience due to a squeeze in the budget after their real estate purchases.

 I have a few men that I owe much to in the realm of hunting wisdom and knowledge. I could have never been as successful without their input and guidance. How did they get so good? Experience. Real estate investing is no different. We are experiencing a fantastic time to buy investment property in Pagosa Springs right now. Go for it. Just remember the basic disciplines. If you are new to the investing world, enlist the guidance of a real estate professional that you can trust. Then one day you can pass on the wisdom and learned disciplines to someone else.