Positive Ecomic News

Finally, there is some positive economic news. Many buyers are able to afford to travel again with gas prices at a more “affordable” level. Mortgage rates have dropped to a once in a lifetime rate.

On the flip side, the stock market is certainly still in turmoil. There are other investment options. In my opinion, the most solid investment you can make is in your home or other real estate. Both are tangible investments that historically hold their value.

Here in Chaffee County, we have a good inventory of homes, condominiums and raw land. We have already gone through a price adjustment period and this may be the best time to buy a property.

Our local lending institution, High Country Bank has mortgage money to lend. Many 30 year fixed mortgage rates are under 5%. This repositions many families to a new price point to purchase their home or vacation property. I just refinanced my home with High Country Bank and reduced my payments significantly.

Salida and Chaffee County has other positive news. The new Heart of the Rockies Regional Medical Center will celebrate its one year anniversary April 1. The City and County are relocating to a larger central complex. The Friend Ranch 18 hole golf course is progressing. New construction on Highway 50 shows many national companies have discovered and continue to have faith in our community. A group of civic, county and city government and community business leaders have begun the process of starting an economic development coalition, and of course, the snow at Monarch Ski area is fabulous.

As our new president is inaugurated, we all have renewed hope. His task at hand is enormous, but we must show faith in the future. Stimulating the economy with real estate may be one of the best investments you can make.

Find Your Pony

Here we are just a week into the New Year. I am looking out my window onto U.S. Highway 50 which has been quite busy during the past two weeks with license plates from all over. I expect to see a slow down in traffic on the busy little highway but as of yet…. It ain’t happening! I guess oil prices are back on the rise and I’m told people will stop driving their SUVs and big pickup trucks. Everyone will go to those little half breeds or whatever they are called. Humm… funny I keep seeing pickup after pickup followed by an occasional SUV. Looks like we are going to have to start conserving oil but as of yet…. It ain’t happening! I also hear how bad this year is supposed to be for all of us financially. I hear many sob stories being told and it seems to make the majority feel a little better about their own particular situation. It’s sort of like the old saying “misery loves company”. The way I see it, we are so fortunate with our lifestyle here. We don’t worry about road rage. We are not concerned with some wacko coming down the street and snatching our children. We smile and greet each other in the grocery store and acknowledge each other on a first name basis. So what do I have to complain or gripe about…? It ain’t happening! Times like these remind me of a story my dad use to tell me when I was a wee lad: There once was a doctor with two twin boys who were complete opposites. One was a pessimist, the other an optimist. The doctor decided one day to conduct an experiment with his two sons. He locked the two boys up in separate rooms all day long. In the room with pessimist, he provided his son with every toy imaginable. The other room for the optimist was filled with horse manure. At the end of the day, he checked in on the two. Upon entering the room with the pessimist, he found the boy over in the corner of his room pouting. When he asks him how his day was, the boy did nothing but complain. “The bicycle is red and you know that blue if my favorite color. The ball you gave me doesn’t bounce as high as it should and the train whistle isn’t loud enough”, spouted the pessimist. This was pretty much what the doctor expected. He then went into the room with the optimist. Upon entering he was amazed to find a maze of tunnels through the manure. Out popped his son with the largest smile and manure from head to toe. “Dad, this was the best day of my life”, he exclaimed. “I just can’t remember when I had this much fun”. “How is it that you could have that much fun in a room full of manure” the father inquired. “Well Dad the way I figure it; with this much horse poop there has to be a pony in here somewhere”. So I say look for your Pony in 2009!
Post by Dan Shuford