There is now a much greater likelihood that a Big Box retail store will be built in Pagosa Springs. Besides the controversy about how a large format store would have an effect on the area's charm, we are interested in how it could affect Pagosa Springs, Colorado land prices. The building of a large discount retailer in Pagosa Springs has been a contentious concept for many years. The two main areas of argument have been the fiscal impact along with the possible changes to our town's character. In this editorial, we shall focus on the effect on Pagosa Springs, CO property prices.
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A press release was issued jointly by the Archuleta Board of County Commissioners, the Town of Pagosa Springs and the Pagosa Springs Community Development Corporation in September 2010. It made the announcement that a big retail store is really thinking about the building of a resource in the Pagosa Springs area.
Actually, it is our understanding that the company concerned is Wal-Mart, and that we have made their short list of potential project locations for the state.
The location under consideration (on the northwest corner of Vista Boulevard and U.S. 160) is actually out of the town limits, on the west side of town. The other location that has attracted speculation in recent years is the so-called "Sawmill property" located on the southeast corner of the intersection of U.S. 160 and 84 (on the east side of town).
Needless to say at this stage, there is no certainty that this exact scheme will take place. It remains in the investigative stage. Nonetheless, a Big Box store is destined to make it eventually, assuming our community remains vigorous enough to be a magnet for one. As a result, it is worth considering the effect on local real estate.
The current location under evaluation would definitely cause an economic shift toward the "core area" on the west side of town and away from downtown. This is particularly true with the recent loss of our only downtown grocery store, and one of the banks. On the other hand, the location could actually instigate more traffic flow throughout the whole vicinity.
Historic Downtown Pagosa Springs is obviously home to our eponymous hot springs, together with the hotels, dinning establishments, shops, and post office nearby. These aren't leaving. Vacationers staying downtown will most likely take even more visits up Putt Hill to go to a Big Box store, and therefore get further exposure to the many stores, eating places and other businesses along the way. Likewise, a Big Box vendor would be expected to pull buyers from as far away as Chama, to the south. In the case that such a retailer ended up being situated on the Sawmill land, they would have hardly cause to travel further.If their destination is on the other edge of town, these customers will end up travelling through virtually our whole economic region, thus amplifying the exposure of the numerous small shops and dining places along the way.
If indeed the county doesn't make undue tax concessions to appeal to a Big Box merchant, the additional income from resident patrons remaining in town, other people coming in from different localities, and the augmented property tax income would be in the hundreds of thousands of dollars. The construction by itself would provide lots of job opportunities in the short term, particularly in the construction trades, which have been very hard hit. While Wal-Mart is not famous for providing well paid jobs with excellent benefits, sadly, neither are small-town locally-owned merchants. With increased revenue, the county's ability to maintain roads and other infrastructure, and to support our public school system, will be enhanced. This has a direct positive influence on property prices.
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The bottom line is that the building of a Big Box retailer will likely have a positive effect on houses and real estate values. Discovering whether your exact residence or enterprise might benefit requires looking at the kind of property and how close it is to a large discounter's retail complex. The anticipated location may truly please the adjoining neighbors, who do not reside in elite developments. The existence of a large discount store might well improve the worth of the site to lower income families and companies that cater to them. More upscale enterprises may do best by locating a bit away from the discounter's position, preferably surrounded by other shops that target clients similar to their own.
Tuesday, November 2, 2010
Thinking about Pagosa Springs, CO Property? Don't Make These Frequent Errors!
It is easy to be wowed by the native splendor of Pagosa Springs Co. But before you buy property here, there is a lot you should to know in order to formulate a sound decision. As with any area, Pagosa Springs has its exclusive set of difficulties and latent pitfalls. In an ideal world, you would have expert knowledge of the regional real estate circumstances, in addition to being comfortable with real estate acquisitions in general. Even local inhabitants and frequent visitors require knowledgeable guidance and representation.
Click over to our website for more articles on Pagosa Springs homes for sale or call today at 970-335-8103 to talk to a local Pagosa Springs real estate agent.
You will love having property in Pagosa Springs, however you will enjoy it more if you evade potential troubles from the beginning. While you read through this article, you'll learn about specific points of concern to keep in mind when selecting your new residence in the mountains. Most of these are distinctive to our local climate, altitude, and terrain, and might not be obvious to guests from different locations. Consequently be certain to ask about these questions, as well as others that your neighborhood real estate broker might suggest.
* Where will your drinking water come from? There are several water and sewer districts in various locations. Our municipal utilities are highly dependable. More importantly is the condition and reliability of any well you might be depending upon.
* This is snow country. The style of your roof can prevent lots of difficulty or bring you plenty of problems and expenses. Inquire about how well the roof sheds the snow off, and be aware of where it's going to be piling up.
* The type of heat you have will have a big impact on your heating expense. (So will the quality of insulation and whether you receive a large amount passive solar heat.) Natural gas is less costly than LP gas, but is notoffered in many areas. A number of electric heating systems are enormously pricey to run. Check the seller's utility charges.
* Is the road maintained by the county, or a local road district. The communities which have their private districts commonly love them, however they do involve additional expense.
* The taxes you see on the property's listing information might not be especially representative of what will turn up in the near future. Assessed values generally increased dramatically in recent years, but are likely to go down sharply everywhere property values are clearly reduced from their heights. Upcoming votes on crucial tax issues may well substantially alter how real estate taxes are applied in the years ahead.
* We are a mountain district, with a sparse populace. In consequence, a lot of services you take for granted may not be accessible at your new house. If they are important to you, check for availability of cable TV, telephone service, and high speed Internet.
* Many neighborhoods have high clay content in the ground, which can mean your dwelling shifts a little as the land freezes and thaws. This can initiate cracking in your drywall and ceramic tile.
* If you cant' access a sewage utility, you'll need a septic system. Much of our area has soil that won't percolate well. A few older properties have evaporative ponds. You can keep an existing pond, although new systems cannot employ them.
Keeping these items in mind you will be a better informed consumer. With extra knowledge, you can ask better questions and make better selections. These facts, and the guidance of a local professional will help you home in on the perfect Pagosa Springs real estate buy. Your Pagosa Springs real estate purchase is one that can please you for a very long time, if you choose shrewdly at the outset.
Click over to our website Pagosa Springs Real Estate Advisor or telephone today at 970-335-8103 to talk to a local Pagosa Springs real estate agent.
Click over to our website for more articles on Pagosa Springs homes for sale or call today at 970-335-8103 to talk to a local Pagosa Springs real estate agent.
You will love having property in Pagosa Springs, however you will enjoy it more if you evade potential troubles from the beginning. While you read through this article, you'll learn about specific points of concern to keep in mind when selecting your new residence in the mountains. Most of these are distinctive to our local climate, altitude, and terrain, and might not be obvious to guests from different locations. Consequently be certain to ask about these questions, as well as others that your neighborhood real estate broker might suggest.
* Where will your drinking water come from? There are several water and sewer districts in various locations. Our municipal utilities are highly dependable. More importantly is the condition and reliability of any well you might be depending upon.
* This is snow country. The style of your roof can prevent lots of difficulty or bring you plenty of problems and expenses. Inquire about how well the roof sheds the snow off, and be aware of where it's going to be piling up.
* The type of heat you have will have a big impact on your heating expense. (So will the quality of insulation and whether you receive a large amount passive solar heat.) Natural gas is less costly than LP gas, but is notoffered in many areas. A number of electric heating systems are enormously pricey to run. Check the seller's utility charges.
* Is the road maintained by the county, or a local road district. The communities which have their private districts commonly love them, however they do involve additional expense.
* The taxes you see on the property's listing information might not be especially representative of what will turn up in the near future. Assessed values generally increased dramatically in recent years, but are likely to go down sharply everywhere property values are clearly reduced from their heights. Upcoming votes on crucial tax issues may well substantially alter how real estate taxes are applied in the years ahead.
* We are a mountain district, with a sparse populace. In consequence, a lot of services you take for granted may not be accessible at your new house. If they are important to you, check for availability of cable TV, telephone service, and high speed Internet.
* Many neighborhoods have high clay content in the ground, which can mean your dwelling shifts a little as the land freezes and thaws. This can initiate cracking in your drywall and ceramic tile.
* If you cant' access a sewage utility, you'll need a septic system. Much of our area has soil that won't percolate well. A few older properties have evaporative ponds. You can keep an existing pond, although new systems cannot employ them.
Keeping these items in mind you will be a better informed consumer. With extra knowledge, you can ask better questions and make better selections. These facts, and the guidance of a local professional will help you home in on the perfect Pagosa Springs real estate buy. Your Pagosa Springs real estate purchase is one that can please you for a very long time, if you choose shrewdly at the outset.
Click over to our website Pagosa Springs Real Estate Advisor or telephone today at 970-335-8103 to talk to a local Pagosa Springs real estate agent.
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