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.