Animas-LaPlata Water Project

As a part of my role in being an expert on what is affecting Durango Co. real estate, it s my duty to keep informed on many of the projects that are ongoing. The constfruction of the Animas LaPlata water project is one of them. Today I was the guest of the Bureau of Reclamation...the builder of the project...and received a 2-hour on-site tour of the pumping station, the dam site and the reservoir area. This is going to be an impressive lake, and it will be just minutes from Durango. For those of you who know Vallecito Lake, Nighthorse Lake will be almost exactly the same size in storage capacity as well as surface area. The lake will be open for fishing, boating and other recreational pursuits. Expected completion is about 2010.

The dam is an earthen dam and will be about 276 feet high and about a quarter mile wide. What a process that was to watch this being made. Over 200 people are employed at the present time.

More than 80% of the water is designated for the use of 3 Indian tribes. No water has been set aside for irrigation, but rather its use shall be for municipal and industrial purposes. If you would like more information, please feel free to send me an e-mail and I will be pleased to send it to you.

Durango Area Virtual Tours

Never been to Durango? Want to get an idea of what the area looks like? Then take a look at this web site which contains numerous virtual tours of the area. Here is the link:

http://www.DurangoViurtualTour.com

Durango Hosting CyberStar Event

A first-time event will be held June 16th in Durango. On that date, an all day "CyberStar Extravaganza" will be held at the Doubletree Hotel along the Animas River. The CyberStars are a group of tech savvy Realtors who are leaders in their profession from all across North America. While there are 1.2 million Realtors world-wide, there are only 200 CyberStars and it is a by-invitation-only mastermind group.

On the 16th, 10 CyberStars, together with their founder, Allen F. Hainge, will be presenting the latest information on marketing, technology, blogs, pod-casting, web sites, e-mail marketing etc to all those in attendance. Panels, break-out sessions and numerous round-table forums will be held. Attendance is open to Realtors and their assistants.

For more information please e-mail Rick Lorenz, Durango's only CyberStar, or call Rick for a registration form. Qualifies for 8 hours of Colorado continuing ed credits. Cost is $75.00 and includes lunch, 2 breaks and a sweet roll/coffee breakfast.
Rick's e-mail address Rick@BuyDurango.com
Direct line 970-375-7007

CyberStars scheduled to appear are:
Linda DeVlieg of Coldwell Banker Legacy, Albuquerque, NM
Gary Feldman, Coates Reid & Waldron, Aspen, CO
Alice Held, RE/MAX Excalibur, Scottsdale, AZ
Rick Lorenz, The Wells Group R.E. Brokerage, Durango, CO
Debbie Moore, Colorado Preferred Properties, Denver, CO
Jo Ellen Nash, Nash & Company, Vail, CO
Susan Orth, City Different Realty, Santa Fe, NM
Wayne Short, RE/MAX Realty Professionals, Wichita, KS
Linda Soesbe, McGinnis/GMAC Real Estate, Colorado Springs, CO
Christina Whipple, RE/MAX Associates 2000, San Antonio, TX

USING YOUR IRA TO BUY REAL ESTATE

Many people are not aware that the funds in their retirement accounts can be used to buy real estate. Acceptable investments include a rental property or a piece of land in path of development. How about a parcel of land that you feel would be pretty easy to take through the "subdivision" or "entitlement" process?.....an almost perfect fit. The key issue is this: you can't live in it; your children can't live or rent it from you; nor can your parents or grandparents. The profits from those real estate investments stay in the retirement account and as such are exempt from current taxation.

Like anything that has to do with taxes, there are rules to follow and this may not be for you. I would be happy to discuss the opportunities with you. Also, I have a DVD of a seminar I did on the subject. If you would like a copy of that e-mail me your snail mail address and I'll get it out in the mail to you right away.

E-mail address Rick@BuyDurango.com

What's Hot? What's Not?

I am often asked what type of property is in great demand (what's hot) and also what market segment is slow (what's not).
River front property is especially hot. I did a computer search for a client 2 days ago with the following criteria: vacant land 5 to 40 acres, Durango or Bayfield, river or stream front, $200,000 and up....and came up with NO listings. This past winter saw the sale of several Pine River parcels and nothing else has become available.
What is not so quick to sell right now is dry, arid looking vacant land. We are currently getting many buyers with horses or other farm animals who need irrigation. "A beautiful Colorado feel" is what the buyers are requesting. That means pine trees and green...not a sagebrush type product.

Bayfield Sewer Issues Resolved

At least for now, anyway. The moratorium has been lifted and building permits are again being issued. The sewer plant, which is not owned by the Town of Bayfield, will need to have work performed to increase capacity and to prevent ground water from leaching into the system. The situation will continue to be monitored by the health department, the town and the operator.