Is this a good time to buy land? Is vacant, mountain or rural land still a “safe” place to put your money? What if the prices go down? what if I lose my job? what if there is a better deal out there?  The answer is….there’s no one-size-fits-all answer.

 

One thing I know for sure is my phone has finally stopped ringing from Sellers wanting to dump thier property.  During 09 and early 10 time frame it was an absolute frenzy of vacant land going on the market. Even those developers of the larger subdivisions had slashed prices and offering specials for a closing out of the developments. They have known that they are competing with the most desperate of sellers whom have already entered the market.

 

What I can also say with all certainty is that I have never, in 15 years, seen land prices this low. Will they go down more? Maybe.  But a more likely scenario is that vacant land prices have settled and are either slowy ticking up, or… rather than lower the prices, sellers are just saying “ bring me an offer”, chosing rather to see how it plays out.

 

Keep in mind that those really good quality properties, with gorgeous trees, views, access, utilities, and proximity to a NON tourist town. These are holding thier own and have as these sellers know they have a great property and were not about to give it away.  And if they did decide to part with it, those types of steals of a deals come up and then they go rather quickly.

 

In regards to is it a safe place to put your money? Well, at least you are investing in something tangible! Something you can have the satisfaction of going out and walking, seeing, smelling and touching and saying… yeah…oh good….it is still here. As opposed to some numbers on a statement in the mail that arrive quarterly.

 

To sum up…if you have been sitting on the fence AND you are in a financial position to do so….jump off that fence! Spend your time enjoying your own property rather than running around looking at a bunch of land… that is not really what you want..but …you like the price.

 

Time to start enjoing some Happy Trails again~

 

 

The other day, I asked my niece how she was doing. Her response? Just …living the dream. I love it! I actualy use this phrase all the time, but this time… it got me thinking. Why not share how some folks here are living thier dream?

 

My BFF Linda , relocated from Long Island NY, after she acquired her 154 acres for the Love of Horses. Now she is certainly living her dream. In her spare time, ( and I use this term very loosely as she has 15 horses to feed and clean up after, two ranches to maintain, and a real estate career!), makes gorgeous, absolutely stunning, and beautiful one of a kind jewelry. You know the kind that when you wear it you feel like you are super rich, and I am not talking money-wise.

 

“I fell in love with the west and took that love and created my jewelry designs and western home accents. There was such a demand for my creations that I created Rockin’ L Designs”   http://www.rockinldesigns.com/index.html

Below is sampling of her creations!

 

There there is Mark who recently stated ” I started looking at all aspects of my life and I decided life is to short to waste it away just trying to pay the bills. I was going to start sampling everything life offered and start making old dreams come true” He certainly did just that! Purchased his “final frontier” and started doing this!

 

 

The finished piece is called No Posse in Sight In his own words >> “Well Diablo, looks like there’s no posse in sight. I think climbing this pass gave them the slip, but we need to keep moving like we always do. I didn’t think they would keep up this chase this long or this far, maybe they will just give up now and go back. Good thing you’re a strong mount, I knew that when I got ya 3 years ago. Most horses wouldn’t have lasted this long, being pushed so hard. Wish that man wouldn’t have tried to steal ya, then I wouldn’t had to shot him. We wouldn’t be running like this, if he wasn’t that sheriff’s boy.”

Email markjsacco@hotmail.com  Contact Mark directly for info regarding his new found passion at Mark Sacco ; Phone 972-723-1186

 

This place is amazing, and busy as all get out. This very successful business is located at 303 CR 3A, just south of US 50 on the Royal Gorge Blvd. Contact Bart for more info like current prices and such at 719-275-1421 or meail him at flybart22@wildblue.net

 

The above folks have grit and determination, and they also were willing to follow thier dream! If you are reading this, then perhaps you have given a great deal of thought to it too. So, how are you different? And are you ready to make that leap and follow your dream?

 

Come on over and start enjoying your own Happy Trails!

 

If the property you are viewing is full of cow patties, then likely there is a cattle grazing lease on the ranch. Yes, this means cows will be roaming freely about the property. But before you say not on my land! Consider that whomever is the grantor of the lease gets a HUGE tax break as their property becomes zoned a different type of agricultural. Literally pennies per acre, as opposed to thousands of dollars a year! Now, you are interested, right? It really is quite interesting how it works as some of the ways things are done here go back generations!  

The folks with the cattle pay a specific amount per acre, (usually not a great deal), for a specified amount of cattle, and only keep the cattle there for a designated amount of time. Price and terms are negotiated between the landowner and folks that own the cattle, and will depend on the quality of the ground and how long the cattle are around.

Another interesting note: Here it is open range, so if you live out of the city limits, then you have to fence the cows OUT not in. Seriously! Sometimes you are driving down the county road and thinking whose cows are these and aren’t they afraid someone will steal them? Well, they control where the cattle graze with salt licks and water supplies, and as far as stealing them…umm…that thar is considered cattle rustling…and the laws on the books are literally so old regarding rustling…that they may just hang ya!

You may also be thinking, well…I will just put up a fence and graze my own cows/horses/alpacas/etc.. and still get the Ag status. Whoa pardner…don’t work like that. The county has specific rules about how many head of cattle/other livestock can be on how many acres, and other such regulations. I have not seen this ever be very successful, but if the smell of cow patties wafting in your kitchen window on a warm summer day does not sound like your idea of fresh Colorado air…don’t despair you can actually fence out a portion of your property and still be considered participating in the grazing lease! Just be sure to check with the county officials to find out how much they allow.

As Always~ Happy Trails~

 

 

 

 

 

 

 

 

Well…that may be an old saying for the month of March …but for us, it was completely opposite!!

There was plenty of moisture dropped on us here in Colorado and we are looking forward to a nice green summer! While that wild weather ride may have cause you to postpone any plans to visit, we are most assuredly enjoying sunshine these days! The daffodils, crocus and other bulbs are going into full bloom, so now may be a good time to schedule that trip.

 

While you are here to look for property you will find there is much to do! Just in Pueblo alone, the PBR is hosting the Wild Wild West Fest May 12-16, 2010. The Arkansas River in the spring attracts kayakers, boaters, and even river surfers! The Colorado River Surfing Association is planning another International Surfing Day celebration at the Pueblo Whitewater Park.

And after years and years of Lake Minnequa sitting un- utilized, with the support of the Denver Broncos..a sports center is staking it’s claim at Lake Minnequa!  Almost 320 acres are being turned into a recreation and open space area, with playground and picnic shelter. The lake is slated to be stocked with fish, and a trail is already being constructed to allow folks to walk or hike around it.

In Canon City area, the 72nd Annual Music and Blossom Festival is Aril 30 to May2nd. It boasts food and craft booths, a big parade, carnival and of course..music! And you don’t need to be a kid to enjoy the chocolate walk, and other entertainers that will be delighting folks throughout the Park.

And for us Moms…Mothers get in free to the Royal Gorge on Mothers Day.

Westcliffe once again hosts the Springtime in Rockies on May 29. Kick off your day with a pancake breakfast, then peruse the booths at a 2 day annual yard sale, follow it up by enjoying the Wet Mt Community Parade and finish the afternoon by attending the live theatre performance of Route 66.

Of course this is just a small sampling of what is happening around this neck of the woods, and there is sure to be something to appeal to all age groups and tastes. Visit the appropriate county’s chamber of commerce, or call me if there is some specific activities you are into and would like to have links or information about.

In closing, just remember with interest rates still at historic lows, the stock market increasing daily, the home sales market improving….it is increasingly proving that there is no time like the present to find that dream property! And frankly, it will be a long time coming before the bargains, the wheeling and dealing, the steals of the deals, that we are seeing now will happen again.

So…saddle up…and head on out to pursue that dream…before it gets out of reach again.  

See you on the Happy Trails~

 

 

 

OK , now don’t shoot the messenger here…but I can almost guarantee it is not going to be the first number that popped into your head! But wait! YOUR land is the best, the greatest…most beautiful..most desirable property out there! Well of course it is, or you would not have made the leap and signed those papers when you bought it

 

With the caveat that in Colorado, the law does dictates that the seller has the final decision on what they want for their land, I can say with most assurance that the value of your land .. is based entirely on what a buyer is willing to pay for it!

 

We do use some benchmarks to get an actual and current market value. Let me share how I determine what that current market value is. I use a three legged approach, by using only those properties that offer similar features, views, trees, amenities, water (if you are lucky to have it), utilities etc.

 

First I use any past sales for the last 6 months, and if we can not find at least four or five sales, we will go 12 months (which for 35 tracts of mountain land will likely be the case). I use past sales, mostly because this is what an appraiser will do when you sell your land to a buyer, as the buyer’s lender will require it. If there is no lender involved it is still a great indicator of the current buyers mind set.

 

Second, I check and see what else is on the market currently. With rural, vacant land not all properties are posted in the multiple listing services. So it is important to include local developer properties, perhaps FSBOs, and even smaller independent real estate companies who don’t have access to listing services. Any and all property that is in direct competition with your property will be factored in.

 

Final and the most important aspect, is the psychology! Is it a Buyer’s market? Are you competing with highly motivated sellers? Are there five properties on one road we need to drive by when showing yours? High percentage of properties on a particular ranch on the market at one time? Are there some very rare aspects of your land we can consider? Water, walk into public lands, expansive snow capped mountain views? Is “time to sell”-vs.- “top dollar”, most important to you?

 

What you will notice about the above process (other than it is it is a bit different than a home valuation process), is that I did not mention how much someone wants to net, or make on.. their land. There is no mention of a “need to break even” amount, if there was interest paid on a note, or if there are improvements that were made that they are trying to recoup costs on. Fact is, if I do not already know I will not look up what a seller may have initially paid for a property either.

 

Because frankly folks, although those factors may be very important in determining whether or not now is the best time to put your land on the market, they really do not have an impact on what any current market will bear. Economic conditions, more aggressively priced similar properties, over all “buyer traffic”, and the amount of property available (supply and demand), that may have features and benefits that are along the same line as your property, are much more a factor in determining market value.

 

Most any agent can do factual checks from a computer, but when it comes to the process of finding a realistic market value for your land, it does make a difference to find an agent with experience in marketing similar properties in the particular area where your land is located.

 

If you happen to have property in Pueblo, Custer or Fremont Counites, feel free to contact me directly for a personalized and up to date, market value on your property.

And as always…Happy Trails~

I have been specializing in vacant land here in Colorado for over 14 years and during that time I have bookmarked a vast list of Favorites to share with folks.  Usually, I compose lengthy emails full of links and since it ends up being much of the same info it leaves me little time to research new listings, or find even more links, or in this case post a new blog. So forgive me if this is not as personal as you prefer, but I am all about making things easy. So here they are…the top 5 most emailed links!

 

#1 http://water.state.co.us/pubs/wellpermitguide.pdf 

It is all about water in Colorado! Most folks have heard there is something special about our water laws, and because of this, they assume they need water rights in order to get a well permit. Not so! It is NOT mandatory that you have water rights in order to get a well permit.  Water rights are only necessary if you are planning on irrigating the land for something like a cash generating crop. They are rare, and if you can even find them, very expensive. Sometimes more than the land itself!

Also, if you are dreaming about maybe wanting a horse, a cow, perhaps chickens, or alpacas, a large garden, or maybe just want to plant some trees on that bare property you got for a song… then you only need make sure you have a minimum of 35 acres. This allows you to apply for a domestic well permit. Even if you don’t want livestock of any kind, this type of well, allows you to use water outside your home. Less than 35 acres and you are restricted to in house use only. Like everything in life, there are special circumstances to this rule. Perhaps being grandfathered prior to the law being adapted in the 70s, or a developer that has an augmented water plan allowing smaller tracts, or even a munincipal water system. Visit the above link for the details.

 

#2 www.morecoloradoland.com

What a fabulous resource! How informative and detailed! What a wonderfully layed out and easy to use format! Ahem…oh did I mention? This is my other website

 

I designed this site because I would encounter problems when attaching large files to emails. This way I can have my quick loading website and yet be able to send more details and specifics to those folks who require them.  Some people just love seeing a few pictures and a short description, while others want overhead aerials, topographic maps, line footage, and locations etc, and etc. If folks have a question on a particular property they may have seen advertised elsehwere, I send the direct link, they click and wah-lah! Even if you are not ready to make a decision today, keep it bookmarked and check back frequently.  It is the first site that I update with status changes and new listings. AND it has just about every listing I have available! As opposed to just a selected featured properties, like on the other sites.

 

#3 http://geosurvey.state.co.us/Default.aspx?tabid=237

Take a read of the link and you will see some of the West’s oldest history is centered around mining and homesteading/ranching. These two could co-exist..that is.. as long as there was no water rights involved! Just because we settled here and built homes and shopping centers does not make the minerals go away. You can research this until the cows come home, but you if you want to live in the great state of Colorado, you will have to be like the rest of us and get comfortable with the fact that you likely won’t own your minerals.

 

#4 http://www.fremontco.com/commissioners/codeofthewest.shtml

Living in a rural area has it’s perks; like undeveloped spaces, elbow room, beautiful vistas and a slower pace that allows us time to stop and say hello.  But make no mistake, it also means making adjustments to some conveniences you may now be using without giving a second thought to; like trash pick up at the curb, mail delivery right to your door, or say…high speed internet!

I am quite sure that Fremont County has no idea how much time and typing they have saved me by putting all these pertinant facts in one place! So, KUDOS to them and a huge thank you.  Even if your destination is not that county per se, the info is applicable to rural living just about anywhere.

 

#5 http://www.dora.state.co.us/real-estate/contracts/2005Contracts/DD25-05-04.pdf

Do you know who “your agent” works for?  There are three ways a broker in Colorado can work with you, and these options are designated by their Employing Broker. They are either as a Seller’ Agent, a Buyer’s Agent or as a Transaction Broker.  We work as a Transaction Broker, as this way both Sellers and Buyers are treated as customers on an equal basis!

This not always practical as there may be some extenuating circumstances, (like a personal relationship with one of the parties), that could by default , affect this relationship.  I want to assure you that if this special circumstance should occur,  anything you may have shared is considered “locked in the safe” and never shared with the other party.

 

Thank you for taking the time to review this info and hope you found it informative!

 

 

The definition according to the Colorado Coalition of Land Trusts >> “A legal agreement between a landowner and a land trust or government agency that permanently restricts the uses of the land in order to protect its conservation values. ….. Because of this flexibility and the tax benefits associated with the bargain sale of or donation of a conservation easement, they have become the most popular conservation tools of choice for landowners across the country. “

Recently, I have been receiving more and more inquiries into this “tax saving incentive” in regards to 35 acre tracts of land in rural subdivisions. My response is always…tread very carefully!  While there are indeed possible monetary benefits that can come with a Land Trust, it should never be one’s only motivation for acquiring land.

There are many ways folks can get into trouble with this, and not just with the State of Colorado and thier various regulatory agencies, but likely the IRS.

It is important that you do your research and make sure you are pursuing this with the utmost integrity and that you consult with reliable professionals to ensure you are following the intent and spirit of laws regarding Land Trusts. 

For further guidance on the matter I highly recommend reviewing the websites of the Land Trust Alliance for National Info at www.landtrustalliance.org and The Colorado Coalition of Land Trusts for local info and  at www.cclt.org.

“Land is America’s most vital and valuable resource. Conserving our land helps ensure we all have access to clean air and drinking water, food security, scenic landscapes and views, recreational places, and habitat for the diversity of life on earth.” ~ the Land Trust Alliance 

1. Not getting pre qualified/approved for financing thier dream property. Who would go out and home shop without knowing what the bank will lend them? Not many folks, yet it is amazing at how often they will do this with vacant land. Especially since vacant land financing is different in regards to length of loan, interest rates and down payment. The last thing you want to do is fall in love with a property only to find out that the required down payment is $20,000.00 more than you had in mind.

2. Not being clear on what they are willing to compromise on. For some that may be access to schools and utilities, and for others it may well be views and trees, or the bottom line..money. When you have made your list ahead of time of “must haves”, ” always wanted to have” and “be nice to haves, but can live with outs”  you can go into your search for that perfect Colorado property and act quickly enough to make a decision before someone else snatches up your dream land.

3. Not realizing inexpensive land is not always the best value. You could run the risk of buying land thinking what a great deal, and then you find it costs thousands of dollars to excavate, or run the utilities, or even get a driveway cut to a nice camp site!  Time and again I have seen folks buy land just because it was cheap, and not because they love it.  Cheap today = cheap tomorrow . Best to leave the investing to the investors and spend your time and energy on accomplishing your goal of finding land that meats your criteria.

4. Not making their very best offer the first time. Even when the market is booming here in Colorado and vacant land is selling like hotcakes, folks still don’t do enough to make their offer look appealing to a seller! Things like getting the financing arranged, doing some research in regards to use and zoning so you can eliminate contingencies, as well as offering a fair price..and doing it in writing! A written offer is so much more powerful to a seller.  

5. Not allowing the professionals to do thier job. Land looks attractive on the internet because it is marketed to appeal to the broadest audience as possible. A good agent knows thier market, especially if it is something they do all day every day!  They should be willing to spend time with you getting to know your criteria, and answering your questions, even referring you to resources to get informed and educated. 

 

If you are planning on looking at more than two or three properties in one day…then you are not being listened to! Most folks don’t realize how exhausting that can be, especially if you have kids that are rightfully coming along, or plan on looking in more than one particular area. Do yourself a favor and find someone who will do the eliminating for you so you can spend time actually exploring and enjoying your new found dream :)

Happy Trails~

Trends in real estate markets can vary across the country, but even so these tips can help you no matter where you decide to set your roots!

1. Pick a number..but not any number! Everyone seems to have a magic number in thier heads in terms of their budget and what they are comfortable with laying out for their dream property. Talk with a lender first and find out what you qualify for, or make sure you really can tap into that IRA account without paying heavy penalties attached to early withdrawals. Keep in mind the volatility of the stock market too if you are planning on pulling out cash for a purchase.

2. Take that “magic” number and stick to it..but…be realistic. Unless your pockets drag on the ground, you will likely find you have to make a compromise. Perhaps location, or amentites, or features you thought you could not live without, (like live water!) and prioritize your top three criteria and let the rest fall where your finances allow. After all, who wouldn’t rather be in a “cadillac’, when really a “camry” works just as well.

3. Spend some time in preparation of viewing property by letting your fingers do the walking..on the keyboard that is!  Just don’t get stuck in the Analysis Paralysis mode! Get some facts on the properties such as average sales prices in the past, what town is it near-so you can research the area, how does the terrain layout on the land-so you can do what you want to, how is the access to the land, the utilities, etc. This way some process of elimination can be done online and you will find that even though there seems to be an endless inventory of properties out there, there really is only a handful that will work for YOU.  If you want to make a career out of “looking for land” than Hey, it’s your time and you can use it how you seem fit!  Just be open with those professionals you may be in contact with :) 

4. Contact Real Estate Brokers based in your targeted communities. Since there are no set requirements in order to label oneself as a “Specialist”, find out how often they handle the type of property you are seeking..that is a great way to ensure a smooth transaction! Being a member of the National Association of Realtors means the Broker has pledged to follow a Code of Ethics that is above and beyond licensing law. But even the REALTOR who specializes in vacant land in such and such a county does not amount to a hill of beans….if you just don’t connect with thier style. So, choose wisely as this is likely going to be a long term relationship.

5. Important as well… even in a Buyer driven market don’t shop outside your comfort zone in terms of price. If you think you are going to low ball the owner, well then you risk a flat refusal rather than a counter to your offer. Do your homework and stay in your budget to avoid dissappointment and likely wasting your time as well as everyone else that is invloved in the process. Better to follow tips 1, 2, 3 and 4 prior to shopping and then when you find your AHA property you can get the deal you deserve!

Happy Trails~

Originally published in the REALTOR online Magazine : Copyright THE NATIONAL ASSOCIATION OF REALTORS® Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Here are five other things you should know about title insurance.

1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person’s name or an inaccurate description of the property.

2. It’s a one-time cost usually based on the price of the property.

3. It’s usually paid for by the sellers, although this can vary depending on your state and local customs.

4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy

5. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.