Why so much vacant property for sale around La Veta? (Walsenburg: real estate market, vacation home)

[martyg]

For the last several years, and not just recently because of the downturn in the real estate market, there has been a lot of vacant property for sale in the La Veta area. Some of it sells then appears back on the market within about 1.5 years. I assume it is a combination of many economic and personal factors, but does anyone have any first hand knowledge? Maybe it's just me, but for a small town and surrounding area the amount of property for sale seems out of the norm. And the prices do not seem to be dropping.

I know times are tough. And could be people looking to cash in on profits too, but that will always be the case.

But any first hand knowlege of anything to do with drilling of gas wells in the area? with well water availability (I have talked to local drillers but to no conclusion)? with properties that lost Ag status now facing significantly higher taxes in some developments?

[mnkrause]

We've got an awful lot of vacation homes here. I would venture to guess that with the downturn in the housing market and economy people are looking to unload their vacation homes. Some people move here full time and struggle through a harsh winter or two then pack it up and move on. Most can stand the cold and the snow.....but the wind can make you down right angry. When it's 10 degrees and blowing 40mph it's pretty hard to be outside.

[wanneroo]

I remember 15 years ago when my parents were starting to think about where they would live when my dad retired from the military there was a Forbes ranch that had been divided into lots that I got a brochure for. Seemed nice enough for Colorado at the time, but there were concerns about water and being isolated. So I don't think they looked at it closely.

[froggin4colorado]

My parents lived in Walsenburg for a long time and saw what you are referring to. There isn't anything down there...pretty desolate. Additionally, water issues are a problem. AND add to that how windy it is, always windy.

[Shuffler]

Originally Posted by martyg

For the last several years, and not just recently because of the downturn in the real estate market, there has been a lot of vacant property for sale in the La Veta area. Some of it sells then appears back on the market within about 1.5 years. I assume it is a combination of many economic and personal factors, but does anyone have any first hand knowledge? Maybe it's just me, but for a small town and surrounding area the amount of property for sale seems out of the norm. And the prices do not seem to be dropping.

I know times are tough. And could be people looking to cash in on profits too, but that will always be the case.

But any first hand knowlege of anything to do with drilling of gas wells in the area? with well water availability (I have talked to local drillers but to no conclusion)? with properties that lost Ag status now facing significantly higher taxes in some developments?

Fools and their money...

[Zamfodder]

Also, I think a lot of people bought in the La Veta area in the early-mid 90's before the Cucharra Valley ski area went bust. After it went out of business, I think a lot of people looked to sell their vacation properties since there isn't much else to do in the area during the winter.