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Crested Butte Market

Colorado Ski Visits Down 11%

colorado-ski-map-620x406According to The Colorado Springs Business Journal ski visits across the state of Colorado are down 11.5% so far this season, compared to the same period last year. The Journal sites the lack of snow and late openings for many Colorado resorts as major factors in the drop of skier traffic.

“First period is largely fueled by in-state visitors, and an unseasonably warm October and November kept many Coloradans from tallying lots of ski days” said Melanie Mills, president and CEO of Colorado Ski Country USA, a nonprofit industry group that represents several of the state’s largest ski resorts. “Snow did not arrive in earnest until mid-December.”

Despite the slow start, ski areas saw a strong holiday period with conditions more in line with an average year. The New Year started with storms, which bodes well for the rest of the season, she said.

“There is some real buoyancy in the indicators for the months ahead. February and March hotel bookings are pacing ahead of last year by 3.5 percent and 8.6 percent respectively,” Mills said. “Carnival and Easter are well-timed for ski visitation this year and Colorado’s traditional snowier months lie ahead.”.

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Your Guide to Buying a Rural Property in the Rocky Mountains

imagesThe Rocky Mountains offer many pristine, rural properties, ranches and farm houses for sale.  Here are ten pieces of advice to keep in mind before buying:

  1. Is the water supply public or private? If it’s well water, you should have it tested to check for chemicals or other harmful components.
  2. Does the house have adequate septic? When a house is constructed in a rural area, a leach field is built to collect sewage and water waste. Make sure the leach field is the proper size to avoid costly construction bills down the road.
  3. Is the house on a private road? If so, you could be facing thousands of dollars in extra expenses each year, as you’ll be forced to split the bill with your fellow residents for plowing, maintenance and paving.
  4. Has the area ever experienced a major power outage? If so, how long was the power out?
  5. How is the air quality? Ask about radon levels and smog levels from any nearby manufacturing plants.
  6. What is the average snowfall? How does the town handle major snowstorms?
  7. Where are the boundary lines? Make sure the property divisions are clear and established.
  8. Who handles trash pickup? Is there a nearby dumping ground?
  9. Are there any deed and zoning restrictions?
  10. How difficult is it to maintain the property?

Colorado Revenue Continues to Grow, Economists Say

imagesColorado’s economy continues to outperform expectations, spurred on by tax revenue from stock sales, although unemployment remains high, state economists told lawmakers Monday.  The state’s tax receipts are expected to be $548.2 million, or 7.1 percent higher, this budget year than the prior year, according to Gov. John Hickenlooper’s economists. The latest quarterly forecast from state economists touched on familiar trends of past reports: Colorado’s economy is outperforming the national economy, but there remains caution because of the revenue growth is driven by taxes on one-time stock sales.  “We have clue after clue that what we’re dealing with is volatile revenue stream,” said Henry Sobanet, Hickenlooper’s budget director.  With the adjusted revenue numbers from December, the state’s general fund is expected to be $8.3 billion for the fiscal year that began in July. The general fund now exceeds the pre-Great Recession peak of $7.7 billion in 2007. The quarterly forecast released Monday afternoon will play a key role in the upcoming debate over the budget, especially as lawmakers debate an overhaul of the state’s system to fund schools. Lawmakers typically give final approval to the budget next month.  State legislative economists also delivered a separate forecast to lawmakers Monday with a similar outlook of cautious optimism for the state.  “I believe it is the spring of this recovery. However, know that storms can still happen in the spring,” said Natalie Mullis, the Legislature’s chief economist.

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2012-13 Skier Visits Creep Up by 4 Percent in Colorado

Arapahoe Basin Ski AreaColorado’s ski areas hosted 11.4 million skier visits last season, a nearly 4 percent increase over the previous season’s 11 million.

The 11.4 million mark, while an increase over the dismal and dry 2011-12 season, is the third-slowest season in the past decade, and the annual increase falls well below the national spike of 11 percent.

Colorado Ski Country USA, the trade group that represents 21 of the state’s 25 ski areas, reported 6.4 million skier visits in 2012-13, an increase of 3.8 percent, or 235,000 skier visits, over 2011-12. Vail Resorts’ four Colorado ski areas — Vail, Breckenridge, Keystone and Beaver Creek — saw about 5 million skier visits.

Colorado’s 2012-13 season started slowly, with weak snow and local skiers staying home. Storms in late December and late spring fueled a rebound in visitation. But it wasn’t enough to pull the state closer to the 12 million-skier-visit benchmark it reached in 2006, 2007, 2008 and 2011.

Declining skier visits does not necessarily correlate to decreasing revenues, as evidenced by ski areas that saw increased revenues in 2011-12, which saw record declines in visitation.

Crested Butte Real Estate Market Sees Major Boost in July Sales

It is sort of like going from zero to 60 in a few seconds. The Crested Butte real estate market appears to have gone from plodding down a country road to hitting the autobahn this month.                                                                                                                                                                                             So far this year, about $30 million in real estate has sold at this end of the valley. About the same amount is pending at the moment, but in the last three weeks, another $17 million in local real estate was put under contract.
“There has been a major uptick in the volume of sales and the amount of money people are spending,” said Bob Kray, a broker at Coldwell Banker Bighorn Realty. “We are hoping for more such activity during the rest of the summer.”
There has been a total year-to-date sales volume of $29,629,307 from 59 transactions between Crested Butte South and Mt. Crested Butte. The properties ranged from a $50,000 lot in Crested Butte South to a $2 million home in Crested Butte and a $3.5 million home in Mt. Crested Butte.  Click here to read the entire article.