May, 2012 Issue   

The Crested Butte Connoisseur
Brought to you by Corey Dwan of Benson Sotheby's International Realty

Hi Everyone,

I must say this off season has been the most mild and dry off season in my seven years in the valley. Almost all of the mountain bike trails are open, dry and tacky. The hiking is fantastic and the fishing couldn't be better. We are experiencing early wildflowers, mid-summer temperatures and clear, blue skies. Crested Butte is truly the best summer destination in Colorado and historically the first three weeks of June are quiet with just a few visitors. So beat the crowd and get up here early to enjoy everything Crested Butte has to offer a month early!

USA Today - 10 Great Places to See Spring Wildflowers

Crested Butte Market Update

As we bump along the bottom of the market and approach the summer months we should take a moment to reflect on the sales from the beginning of the year. We have experienced more active buyers than we have since 2006. Multiple bids are common place with as many as eight buyers on opportunistically priced bank owned properties. On the residential front including homes, condos and town homes from Almont north (the Upper Valley) we experienced 79 transactions totally $35,543,948. That's a 14% jump over the same period last year and we still have another 32 properties under contract totaling $12,180,250. Land has picked up considerable over last year as well with 27 transactions closed since January 1, 2012 worth $5,798,700 with three more under contract. This is an astounding 65% increase over the same period last year. With single family home inventory down and land prices at their all time lows it finally makes sense to purchase land and build your dream mountain home. Attractive land mortgages are not yet available so cash is king.

Notable land sales would include a $625,000 sale in the Prospect neighborhood making a drastic come back after sales prices as low as $100,000 and a 50'X100' Crested Butte town lot located on Butte Avenue for $580,000. Prices for an in town lot had dropped to as low as $250,000 since the economic downturn. Noteworthy single family home sales include 105 Bear Scratch for $4,000,000, 5 Aspen Hill Road for $1,900,000, 750 Providence Ridge for $1,600,000 and two in town homes for $1,450,000 and $1,400,000. Benson Sotheby's represented one or both sides of the top three transactions. Where else would you go to buy or sell your high end Crested Butte home?
Click here to read an interesting article regarding high-income real estate agents lead the pack on technology, crucial for resort town real estate sales.

Another impressive sale was the Grubstake Building in downtown Crested Butte purchased by Chicago Financier and Dodgers owner Mark Walter. It was purchased for a bargain price of $766,700 for 2,300 square feet of commercial space on Elk Avenue. I believe we can all expect some good things to come on the corner of Elk Avenue and Third Street. Click here to read LA Times article. Mr. Walter is also rumored to have purchased 105 Bear Scratch on Mt. Crested Butte.

Crested Butte in the News

Talks Underway for a Permanent Solution to Prevent Mining on Mt. Emmons
Sixth Street Station Gained Approval from Crested Butte Officials
9 News - 10 Great Places to See Spring Wildflowers
Crested Butte Jumps the Gun for Next Season's Passes
Fat Tire Fun in the Rockies

Current News of the National Real Estate Market

Foreclosure Filings down 25% in Colorado in 2011
The One Number to Watch for a Housing Recovery
Bucking Trend - REOs Show Price Gains - Clear Capital
Stunned Home Buyers Find that Bidding Wars are Back

Value Vacations and Great Activities
Click Here for information

State Records for Kokanee Salmon, Lake, Rainbow and Brown Trout
Click Here for Gunnison - Crested Butte fishing information

Stage 1 Fire Ban in Effect
Click here to download fire restrictions information

Shaun Horne's Latest Painting - Absolutely Beautiful!
Click here for Oh Be Joyful Gallery's Latest Newsletter


Slate River, Early Summer 2012 - Shaun Horne - 44'X30' - $5,950 unframed

Looking for a piece of land to build your dream home? Check out 38 Ruby Drive on Mt. Crested Butte with amazing views and old growth aspens. Click here for more information.

2012 Community Calendar

In This Issue:

Real Estate Market Recap
  Crested Butte in the News
Solution to Mt. Emmons Mine?
National Real Estate News
Gunnison County Fishing
Fire Ban in Effect
Oh Be Joyful Gallery
June Schedule of Events
Price Reductions
New Land Listings

Featured Listings
Global Listings

1 Sage Hill Spur Road, Almont
$949,000
Price Reduced!

26 Whetstone Road, Mt. Crested Butte
$899,900

329 Maroon Avenue, Crested Butte
$1,295,000


49 Cinnamon Mtn. Road, Mt. Crested Butte
$1,099,000

309 Third Street, Crested Butte
$899,000



11 Hunter Hill Road, Unit 504
$
229,000

  

Mt. Crested Butte Homes
Mt. Crested Butte Condos
Mt. Crested Butte Land
Crested Butte Homes
Crested Butte Condos
Crested Butte Land
Rural Crested Butte Homes
Rural Crested Butte Condos
Rural Crested Butte Land
Crested Butte South Homes
Crested Butte South Condos
Crested Butte South Land
Gunnison Area Homes
Gunnison Area Condos
Gunnison Area Land
Global Real Estate

Mountain Bike Trail Report
Mt. Crested Butte Snow Report
Mt. Crested Butte Ski Trail Report
Crested Butte Weather Report

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    Gunnison Tire Company, Gunnison
           $699,000 - Price Reduced!


J202 San Moritz, Mt. Crested Butte
$275,000

Summit Lot
$495,000 - New Listings!
June Schedule of Events
1 - First Friday Gallery Crawl & Music, Various Galleries & Locations, Gunnison
8 - 15 - Crested Butte Restaurant Week (Special Dining & Lodging Deals)
9 - Taylor Park Marina Fishing Derby, Taylor Park Reservoir
9 - 10 - Crested Butte Mountain Resort Open for the Weekend
10, 17, 24 - Crested Butte Farmers' Market, Elk Avenue & Second Street

15,16,22,23,29,30 - Gunnison Valley Observatory Open for Public Viewing, Gunnison
16 - Adventure Park, Evolution Bike Park, Zip Lines & Chairlift Open for the Summer, CB Mountain Resort
20, 27 - Wednesdays at Western State College, Different Activities/Topics Each Week, Gunnison
21, 28 - Exploration Experiences at Rocky Mountain Biological Laboratory,
Gothic
21 - 24 - Crested Butte Bike Week, Crested Butte & Mt. Crested Butte
22, 29 - Fridays @ 5 at the Gunnison Art Center, Live Music on the Courtyard
22 - 24 - Crested Butte Writers Conference, Elevation Hotel & Spa, Mt. Crested Butte
22 - 24 - Wildflower Rush Cross Country/Downhill Bike Races, Crested Butte Mtn. Resort
22 - 25 - Gunnison River Festival, Gunnison & Almont
23 - Readers in the Rockies, Elevation Hotel & Spa, Mt. Crested Butte
23 - Annual Breeding Bird Survey at Rocky Mountain Biological Laboratory, Gothic
23 - 24 - Bridges of the Butte (24-hour townie bike tour), Presented by the Adaptive Sports Center, CB
24 - Sundays @ 6 (Free Concerts) Presented by Gunnison Arts Center, Legion Park
25 - Alpenglow (free outdoor concert), Crested Butte Center for the Arts
28 - ArtWalk Evening, Studios & Galleries in Downtown Crested Butte
30 - Gunnison Farmers' Market, Virginia Avenue & Main Street

30 - Aug 12 - Crested Butte Music Festival


Please Visit My Favorite Gallery in Crested Butte - Oh Be Joyful Gallery


Shaun Horne - Red Buildings


Shaun Horne - Aspens and Lupines

Shaun Horne - Tamale View


Thanks for all your referrals!
I succeed when people like you refer me to their family, friends, neighbors and colleagues. It's the best kind of feedback I can receive. So thanks for continuing to pass along this newsletter to all.


 

Corey Dwan
Benson Sotheby's International Realty
433 Sixth Street
Crested Butte, CO 81224
970-596-3219 Cell
970-797-1810 Fax
Corey.Dwan@SothebysRealty.com

www.CrestedButteForSale.com
www.SothebysGlobalRealEstate.com

Thanks for reading! If you'd like to tell me what you think about this newsletter, or if you're thinking of buying or selling real estate, please do get in touch.