Crested Butte, CO Real Estate News

By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Hi Everyone, Looks like things may be cooling off in the real estate market although many experts are talking about a double dip.  I am a firm believer in the Crested Butte Real Estate market that bank owned properties have set the bottom of the market.  As these properties list prices get lowered by the banks they are being purchased showing buyer's confidence that they are purchasing at the bottom.  Read this great article below for some great real estate market information and buying tips. Since the founding of the Sotheby’s Auction House in 1744, the Sotheby’s name has earned renown as a marketer of the world’s most valuable and prestigious possessions. This reputation is built as much upon exceptional service to clients as on the notable art, antiques, jewelry and other holdings th...
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By Channing Boucher, Crested Butte's Trusted Real Estate Advisor
(LIV Sotheby's International Realty)
  Good day from snowy Crested Butte Colorado! Crested Butte Mountain Resort was acquired last year by a very big real estate investment trust (REIT) based in Florida – CNL Lifestyle Properties Inc. (CNL). CNL bought out all three ski resorts owned by the Mueller family including Okemo and Mt. Sunapee in Vermont. CNL is back in the news with more big time investments.  Their next round of acquisitions occurred this month. This time, CNL Lifestyle Properties Inc. bought four marinas in California from the existing operator for $55 million, expanding the REIT’s marina portfolio to 19. Orlando-based CNL Lifestyle Properties leased the four marinas, which have a total of 1,984 boat slips, to former owner Almar Management Inc., which will continue to operate them under long-term, triple-net l...
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By Trish Giassa, Crested Butte, Colorado. RSPS
(Homes In Crested Butte)
Crested Butte Real Estate Update - for February 2010 Crested Butte homes and condos are selling pretty well these days.   Crested Butte Mountain Resort closes on April 4th.  There is lots of snow on the mountain and in our famous backcountry.  If  you're not here, you should plan to get here soon.  Buyer activity in Crested Butte, Crested Butte South and Mount Crested Butte is strong as we head into the season finale.  Here are the details: 10 Crested Butte area properties sold since Feb 1, 2010 Total dollar volume:  $3,402,831 Average sales price:  $340,283Average days on market:   225Highest sale:  33 Buckhorn Way at $1,675,000.  Built in 2002 this house has 4,291 sq ft, a truly oversized garage and stunning views.  401 days on market. 30 Crested Butte area properties are currently Un...
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By Channing Boucher, Crested Butte's Trusted Real Estate Advisor
(LIV Sotheby's International Realty)
In January, I attended a gathering of the Western Mountain Resort Alliance (WMRA) - held right here in little old Crested Butte. The WMRA is a industry organization of real estate people from the Western U.S. resort communities including Grand County (Winter Park), Whistler, Park City, Steamboat Springs, Summit County, Sun Valley, Telluride, Jackson Hole, Sun Valley, Lake Tahoe, Crested Butte and McCall Idaho.The question on everyone's mind? Have we bottomed out? Is it truly the best time to buy real estate again?After hearing these resort's real estate realities, it could be argued that we are indeed at the bottom and now is the best time in years to buy up that Colorado ski home or resort property.From 2006 to 2009, western U.S. mountain resorts saw an across-the-board, 65% decline in...
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By Channing Boucher, Crested Butte's Trusted Real Estate Advisor
(LIV Sotheby's International Realty)
View Newsletter OnlineHello from Crested Butte! Will 2010 be remembered as the year of the price wars in Crested Butte real estate? 2009 saw decent real estate activity in our little resort community but that activity came at a price - no pun intended. Of the 19 single family homes that sold in the town of Crested Butte last year, days on market was 371 and the average sales price was 74% of the original list price. Up in Mt. Crested Butte, 13 single family homes sold at an average of 69% of the original list price and it took an average of 433 days on the market to get those homes sold. There were 45+ condos sold in Mt. Crested Butte in 2009 at an average of 73% of their original list price. For 2010, it looks like these price wars will continue.  With over 560 homes, condos and townho...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Unreal! I have personally heard of many people getting threats of eviction here in Crested Butte. Some banks have offered cash for keys to move out within 30 days but always with a threat of eviction if you don't. Do not let the banks take advantage of you, stand up for your rights and make sure you have a valid lease in place. Cheers, Corey Dwan - REALTOR Benson Sotheby's International RealtyP.O. Box 210 433 Sixth Street Crested Butte, CO 81224970-596-3219 Cell 970-325-3219 World Wide Cell970-349-6653 Office970-797-1810 Fax www.CrestedButteForSale.com NEW YORK (CNNMoney.com) -- Renting a home that is going through foreclosure? If so, don't be fooled: Lenders can't kick you out; they have to honor the terms of your lease. Of course, that doesn't mean that some lenders' representatives a...
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By Trish Giassa, Crested Butte, Colorado. RSPS
(Homes In Crested Butte)
Crested Butte Calendar Of Events - March 2010 Ski season is in full swing in Crested Butte and there is lots to do in addition to skiing.  Below is the list, for your convenience.  Visit my website for more Crested Butte information, including Crested Butte real estate, home and condo listings. 4                              Learn to Skate Ski for Free - Crested Butte Nordic Center 4 - 6, 11 - 13         "Sonnofagunn" an Original Play at the Gunnison Arts Center 5                              First Friday Gallery Crawl & Music, Various Galleries & Locations, Gunnison 5                              Alpin Hong Concert Presented by Crested Butte Center for the Arts 6                              Super Tour (22.5K) - Crested Butte Nordic Center 6 - 7                        Rippin Chix Stee...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Where's housing headed? Follow rents By Shawn Tully, senior editor at largeFebruary 12, 2010: 2:49 PM ET NEW YORK (Fortune) -- It may not be the most widespread measure of housing prices, but if you want to follow a powerful driver, look at rents. Specifically, it's the rents Americans pay on condos, apartments or houses that are about the same size, and share the same neighborhood as your ranch or colonial, that in the end determine what your house is worth. "If you look at the trend in rents to see where housing prices are headed, you're looking at the right measure," says Yale economist Robert Shiller. In recent reports, Deutsche Bank demonstrates how steady or even falling rents have pulled down housing prices, to the point where in many markets it costs about the same amount to own...
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By Trish Giassa, Crested Butte, Colorado. RSPS
(Homes In Crested Butte)
Luxury Mountain Home in Crested Butte with Unparallelled Panoramic Views An elegant and relaxing home in the highly desirable neighborhood of Gold Link with access to the Gold Link lift and trails in Winter and extensive biking and hiking trail system in the Summer. Majestic panoramic mountain views overlook the oversized .83 acre property and Gold Link open space. 9 Silver Lane in Mount Crested Butte offers three master suites!  All include spacious sitting areas and beautiful custom tile baths with steam showers. The main floor Great Room with soaring ceilings and a gorgeous natural stone fireplace adjoins the top-tier gourmet kitchen. Quality finishes throughout with many custom features: sauna, hot tub, wine cellar, ironwood decks, in-floor heating, Lutron lighting, wired for sound,...
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By Trish Giassa, Crested Butte, Colorado. RSPS
(Homes In Crested Butte)
Crested Butte Real Estate Market Update We're smack in the middle of ski season and if you're not here, in Crested Butte, you should be!  The snow is great, all the lifts are spinning, the runs are groomed - or not - as the case should be, and the sun kisses our smiling faces most days.  Bring the sunscreen! There are only about 7 weeks left to ski season ... make your plans now and visit for a weekend or a week.We have  "screaming deals" and superb homes in every sector.   Whether it's a luxurious mountain home or a fantastic near-the-slopes townhouse, or whatever your preference might be ... I have access to all the Crested Butte area listings - or you can search the MLS yourself in the privacy of your own home.  Allow me to make it easy for you -  let me find the best deals for the p...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
CRESTED BUTTE MOUNTAIN RESORT ANNOUNCES EXCITING IMPROVEMENTS AND CAPITAL PROJECTS FOR THE 2009-2010 SEASON • 2009-2010 season investments focus on guest experience improvements • Resort announces winter season packages promising value and savings CRESTED BUTTE, Colo. – Sept. 8 – Over $315 million has been invested in on- and off-mountain improvements and amenities at Crested Butte Mountain Resort (CBMR) since Tim and Diane Mueller purchased the ski area in 2004. Under the new ownership of CNL lifestyle properties, with the Mueller’s still at the operational helm, the 2009-2010 season is no exception. The Muellers remain committed to evolving the resort in a responsible manner that answers the needs of a growing community and an increasing number of visitors, while respecting the surrou...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Written by Mark Reaman Wednesday, 03 February 2010 Regionalization of recreation is the key Improving the ice rink facilities in town and looking into building a campground just south of Crested Butte are preliminary recreation priorities for the Town Council. Those two items rose to the top of the Crested Butte council’s wish list in an early review of the Parks and Recreation Master Plan.While the public surveys all point to an eventual swimming pool and indoor recreation center as the top two desires, the council wanted to tap projects that were attainable and timely. They will, however, ask the staff and consulting group conducting the master plan process to continue pursuing ways to eventually build a pool and rec center. During a work session on Monday, February 1, the council li...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Happy New Year!! Hope each and every one of you had a prosperous and healthy 2009 and may your 2010 be even better. Finally we have seen some snow falling from the sky the last few weeks, and we are smack dab in the middle of another lovely snow storm. This should make for some great turns and powder stashes to be found on the mountain this weekend and beyond. In 2010, I will continue to give those of you I list properties for the best print and online marketing in the Valley.  Check out the new design of my brand new Sotheby’s website as a sampling of some of the changes in design and content that are forthcoming. www.Crested-Butte-For-Sale.com. My site is still under contruction but should be completed soon.  I will announce it’s completition and final web address via email.  For my ...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
By JIM CARLTON CRESTED BUTTE, Colo. -- The promise of new jobs amid a recession is weakening the resolve of some rural residents to keep wildlands from development. That dynamic is evident around this historic mining town of about 1,650, which had long opposed a ski-resort expansion from nearby Mt. Crested Butte to the neighboring national-forest lands of Snodgrass Mountain. The proposal, which has come up several times in the past 30 years, had been repeatedly shot down by locals concerned skiing would ruin the popular hiking and biking area. View Full Image Jim Carlton/The Wall Street Journal A proposal to expand skiing from Colorado's Mt. Crested Butte resort, shown, to nearby Snodgrass Mountain is drawing wide support. But with the downturn, the Snodgrass expansion has been resurrec...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Published December 2009 See more Condé Nast Traveler articles 2009 Best Places to Ski & Stay in North America 2009 Ski Trends › In our fourteenth annual survey, our readers share their peak experiences—from the mountains that are tops for terrain to hotels that provide the softest of landings It seems that nothing—short of moving the mountains themselves—can slow down skiers and snowboarders. Even with last winter's economic challenges, U.S. ski resorts tallied more than 57 million visits, making it the fifth busiest season on record. Abundant powder is key, of course, but abundant fun depends on much more: well-groomed terrain and spiffy lifts with speedy lines, ample après-ski options, and a comfortable place to hit the hay. For maximum pleasure, from schussing to sleeping, you v...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
By Tim JohnsonSki time The painter A valley drive Gunnison’s attraction Mountain Bike Hall of Fame Where to eat Hartman Rocks, Gunnison. © Xavier Fane. The siren’s blare snapped me out of my daze and back to full attention. I hadn’t run a stoplight or sped past a police car. I was cross-country skiing at the Crested Butte Nordic Center (CBNC), in hopes of giving my legs some relief from a day-and-a-half of downhilling at Mt. Crested Butte. The trail I was on gave me a panoramic view of town, and I expected a flurry of emergency vehicles gassing it toward some calamity. None appeared. The traffic through town continued at its 15-mph posted speed. A glance at my watch finally clued me in: it was the Noon Whistle. I never found out if this was a holdover from the past, signaling lunch for ...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
by Philip Higgs, Contributor, SKI Magazine    One day last April, at dusk, a wide pink cloud began billowing over the town of Crested Butte, Colo. Red desert sands were blowing in from Utah's eastern edge, and the sky had turned almost sepia, as if the Wicked Witch herself were about to broom in at any moment. At The Secret Stash, a niche pizza place at the far end of Elk Avenue festooned with Buddhist prayer flags and floor pillows from Egypt, a few diners and waitresses poked out onto its second-floor back balcony for a look. The dust was turning to hail, then to light snowflakes, then back to dust. Was it a good omen, or a bad one? It was Friday, the first day of the last weekend of the ski season, and the Stash was having an Easter egg hunt the next day in its small back yard, with ...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Last Friday marked the end of the first decade of the 21st Century. We thought it only proper to recap some of the events, people and issues that shaped the past 10 years in the Gunnison Country. It was an eventful time.   In the year 2000 ...  Despite widespread fears, including locally, that the nation’s technology-dependent infrastructure wasn’t going to be able to handle the rollover to a new millennium, Jan. 1, 2000, came and went without Armageddon-like catastrophe.  At the Times, Steve Reed was the editor, and Paul Wayne Foreman rode shotgun. The Miller family left the funeral business after a 118-year stint — selling the long-standing Gunnison funeral home to Bob LeChot. In January, the Gunnison Valley Economic Development Corp. formed, with Betsy Baier at the helm as executive ...
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By Corey Dwan, Crested Butte Real Estate Expert
(Crested Butte Collection)
Sales hold, prices don't2009 was the year for local 'market correction' in real estateTimes EditorOriginally published 2010-01-28 Working harder to make less. That is an economic phenomenon hitting workers in many industries, all across the country during this recession. And if you gauge it solely by the data, it appears to have rung true for Gunnison County real estate professionals in 2009. They sold nearly as many homes as they did in 2008 (232 compared with 234), but the total dollar volume of those deals dropped 19 percent. The reason, of course, is that prices fell significantly. The average sales price of a home in the Gunnison area dropped 26 percent in 2009 (to $236,194), according to Multiple Listing Service data compiled by Tom Courtney of RE/MAX Community Brokers in Gunnison...
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By Trish Giassa, Crested Butte, Colorado. RSPS
(Homes In Crested Butte)
Crested Butte Real Estate Update - 2009 Sales All in all, 2009 turned out to be a fairly good year for real estate in Crested Butte. Yes, the real estate market started out very weak in 2009, thankfully it did improve and got more interesting as it came to an end. Here are the stats: December closings: 11 Total dollar volume: $7,904,900 Average sales price: $718,627 Average days on market: 350 List price to sales price ratio: 84% Sales over $1 million: 4 (2 in CB and 2 in Mt CB) Sales over $2 million: 1 (12 Anthracite for $2.4 million) The Year-In-Review Stats follow: 2009 Closings: 151  Total dollar volume: $83,391,907 Average sales price: $552,264 Average days on market: 331 List price to sales price ratio: 88% Sales over $1 million: 20Sales over $2 million: 7  Some notable items: 21 ...
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