I attended the Sotheby's Rocky Mountain Real Estate Retreat organized by Fuller Sotheby's International Realty last week. What a wonderful, information-packed event! The networking was phenomenal too! Many thanks to Scott Webber, Shannel and all the sponsors that made it possible.
Our presenters were well-organized and provided great content. For example:
Wendy Purvey of Sotheby's International gave us the rundown, at a running pace, of the amazing world-wide reach of the marketing that Sotheby's does to attract buyers and sellers to sothebysrealty.com, with a media schedule that includes Architectural Digest. And an exclusive affiliation with the Wall Street Journal that reaches some of the highest net worth individuals in the world.
Phil White, COO of Sothebys' International spoke about the market forecast and how Sotheby's International is growing around the world with top notch affiliations from a local and global perspective
Neil Lyon with Sotheby's in Santa Fe, NM reviewed how to best utilize the quality tools and benefits of being part of the Sotheby's organization to gain market share in a difficult market.
Gene Northup from Dyson & Dyson Sotheby's in Las Vegas shared what is helping him and his group lead the high end market successfully in Las Vegas and how he utilizes our global distribution system to fulfill higher expectations
We talked about how to more accurately price homes & properties when we're dealing with a moving target and how to use our global reach to market mountain resort homes.
Personally, this event was a great networking opportunity to share what's new in Crested Butte, promote our homes for sale in Crested Butte. Crested Butte is not as well known as Aspen or Vail but worth the trip.
Crested Butte Real Estate Market Update & Information
Alas, Summer is over in Crested Butte and we've managed to do a good bit of catch-up on the real estate sales end. The first few months of the year were dismal in sales, but recent months have been stronger d showing some remarkable sales which show that there are buyers understanding value, both in real estate and lifestyle. Of the 22 closed sales in the month of September for a total of $11,951,600. Here is an overview and some highlights:
...2 sales in CB South: 99 Cascadilla with nearly 2000 sq ft of living space and garage sold for $325,000. A mere $172/sf! and 123 Huckeby, single family with over 2000 sf sold for $154/sf or $330,000. This was a bank-owned home and an amazing deal! ... 5 condos and homes sold in town of Crested Butte: Of note, 2 of the 5 went for over $1 million. 500 Butte sold in less than 60 days for $1.2 million and 418 Third sold for $1,195,000 11 sales in Mt CB ... Including two Pitchfork homes in Mount Crested Butte. 102 Pitchfork, 2 bedroom/2 bath sold asa short sale for $225,000 and 102 Horseshoe with 3 bedrooms/2 baths sold for $450,000 ... Two Plaza condos in Mount Crested Butte. A two bedroom for only $278,000 and a 3 bedroom condo traded for $360,000. This is a great complex, short walk to lifts ... Another condo at Mountaineer Square at the base village of Mt Crested Butte sold with nearly 900 sf at only $450/sf was a steal for this lucky buyer. ... a mountain cabin masterpiece in Overlook also in Mt Crested Butte - 5100 sf new luxury home on one acre, just sold for $2,872,500 ... The little mountain cabin on just over 2.5 acres on Gothic Road sold for $260,000 - this will make a great close-in get-away!
Last year for the month of September a slightly lower number of real estate home sales in Crested Butte(20 in 2008 vs 23 in 2009) for a total of nearly $13 million in 2008, vs nearly $12 million in September 2009. The reality is that although we are maintaining the 2008 volume, prices have come down ... by about 25% from 2008 to 2009. Yet, the sky is not falling. 25% may seem like a lot, but it must be related to the meteoric rise in prices in the preceding years. Yes, this is an adjustment and not a welcome one ... unless you are a buyer. The smart money knows that over the long term real estate is the very best value for your money - and, you get to enjoy it! Are we at the bottom of the market? I don't have that crystal ball, but, if we are not, we are close. Also, noting that sales prices are coming in at under 90% of asking on average, the bottom is very possibly being made. If there is something special you've been thinking about, let me find it for you. There are superb properties coming available every week, at really good prices. Let me tell you when the one you've been dreaming about comes available - before it's snapped up by someone else. I watch the market daily and can be watching it for you!
Fall Foliage Crested Butte Colorado. Yesterday we were heading out Kebler Pass to enjoy the single largest aspen grove anywhere in the world but decided to detour onto Ohio Creek Road since we had never been on it before.
This narrow dirt road is smooth enough to travel without 4 wheel drive, with little or no traffic, offered stunning vistas with lots of spots of intense color, views of Castle Rock and stunning valleys. Ohio Creek is close enough to Crested Butte to give you ample time to enjoy a fantastic dinner in our historic town after you enjoy your visual feast.
Folks, the leaves are beginning to peak. This coming week to 10 days will be the best at this altitude. Save the lower altitudes for later and come on up to Crested Butte. Here are some more photos...
Crested ButteHarvest Festival Vinotok this Weekend. Already today, as I sat outside Pitas in Paradise at lunch time there were various characters walking around in costume in anticipation of the festivities which have already begun. I missed Story Telling and Liar's Night but will definitely be on hand for the burning of the Grump.
Burning the Grump, along with everyone's grumps and complaints which have been collected in several boxes about town will cleanse us of any "bad" or unwanted feelings and start the season off fresh, ready for fall and a winter full of skiing.
Crested Butte is a whimsical, friendly community with lots of unique celebrations that are embraced by the community. Vinotok, I have heard, is a throwback to the CroatianFall Festival, which is where many of the old timers came from.
Although my father was also born in Croatia, I, unfortunately, do not have much experience with things Croatian, since my father left home when he was merely 13 and moved to the Italian mainland before coming to the United States. Still, it makes me very happy to be ensconced in a community with the same roots as mine. I look forward to Vinotok in Crested Butte and hope to see you there!
These great photos are courtesy of the Gunnison-Crested Butte Tourism Association.
The Colorado Grand is in Crested Butte, Colorado, tonight .... on its way from Vail and off to Breckenridge tomorrow.
So what is possibly better than driving a great sports car on twisty roads with fantastic views? How about driving great sports cars (and old race cars) on twisty roads with great views and a police escort! Never have to worry about speed traps, that's for sure!
So the Colorado Grand left Vail today for a 1000 mile tour of Colorado and stopped today in our little town of Crested Butte on its route around the stunning mountain roads of Colorado.
85 entries of pre-1961 vintage sports cars and sports racers including a 1960 Ferarri 250 Testa Rossa, two Mercedes-Benz 300SL gullwings, a Bugatti type 57 and type 35 grand prix race car along with 80 other spectacular vehicles.
So, come visit us in Crested Butte ... the scenery is awesome and you never know what you might see, and enjoy the ride!
Fall Foliage for Crested Butte, Colorado ... yes, that time is nearly here! I started checking out the development of our fantastic Crested Butte Fall Foliage last week, when a few aspens here and there were showing signs of beginning to turn golden. A week later and there is more gold to be seen, on the edges of most of the aspen groves. There is still plenty of green though and my expectation is that the real CrestedButte fall foliage season will begin in about a week or so.
My husband and I hiked the Upper Loop - Tony's Trail from Crested Butte to the base of Mount Crested Butte on our way to the Fall Festival: Brews & Chili-Cook-Off, which was a blast with sunshine and good food and beer, live music! We took some photos along the way to give you an idea. I hope you enjoy them.
Today we went hiking on Mount Crested Butte. By the time we got off the Silver Queen lift to begin our ascent to the top of Mount Crested Butte, there were clouds overhead and on the horizon. This was not a bad thing, as the sky and views were dramatic and the sun was not beating down on us mercilessly.
We throughly enjoyed the scramble up to the top meeting a few people and many chipmunks and a few picas - a bit bigger than a chipmunk without a tail, round ears and a cry that sounds like "feeee". Maybe a cross between a rabbit and a chipmunk? Cute nonetheless.
We could see that the aspens are beginning to turn into their beautiful autumn colors and they should be magnificent in a week or so. At a bit over 12,000 feet we had an amazing 360 degree panorama - we felt like we could see forever.
We signed the log book and I enjoyed finding out that many hikers are from in and around Crested Butte though the most far flung visitors were from Brisbane, Australia and Nepal. After a snack on the top, we headed down the rocks ... trickier going down than up but certainly less strenuous. It was the last day the lifts are running - except for next Saturday, 9/12 - the day of our Brews and Chili Cookoff. You can still enjoy a nice hike all the way up to the top of Mount Crested Butte for a few weeks more.
Looking for Fall Foliage in Colorado? Below are 6 places to drive or hike and enjoy the golden color of our abundant aspen trees. The hikes are easy, none of the drives require 4 wheel drive.
Crested Butte is a little known jewel of an historic town withaspen trees all around that shimmer like gold in the light breeze. It so happens that Ski Colorado lists a number of drives and places to see the aspen trees in all their golden glory and many happen to be in and around Crested Butte. Lucky for me and for you, if you can make it here. Crested Butte is a mere 1/2 hour from the Gunnison Regional Airport, a lovely 4-4.5 hour traffic-free drive from Denver and the front range. Once you get to Crested Butte, we will delight you with fine and casual dining in our historic village, our majestic mountain views as well as golden aspens in all their fall foliage glory. Here are the top 5 drives or hikes on which to enjoy them best:
Kebler Pass: go west from Crested Butte on this improved dirt road- no need for 4 wheel drive. This is home to the largest known single aspen grove The vibrant russet color of the Ruby Range are a stunning contrast with the radiant gold of the aspens below. When you reach Colorado 133, continue north toward McClure Pass or simply come back the way you came for the view from the opposite direction.
Colorado 135 between Crested Butte and Gunnison.
US 50 west from Gunnison to Colorado 149 south to Lake City and Slumgullion Pass.
For a short drive, head horth through Mount Crested Butte and continue on to Gothic. This is a dirt road once you leave Mt Crested Butte, but again, no 4 wheel drive required. Only 3 miles of dirt road and stunning views ... or extend your fall foliage tour and continue on this road for a bit, maybe take a hike at Judd Falls a few more miles up on the right hand side of the road. Plenty of parking on left side of road.
Hike Snodgrass Mountain. From Crested Butte head north to Mt Crested Butte, continue to the end of the paved road and park on the right. When you start off you'll first pass a water retention basin. Take the open paths, and be sure to keep gates as you find them as there may be cattle on the mountain.
Lower Loop in Crested Butte can be accessed from the West end of town, Maroon or Butte Avenues are easy entries. This is an easy walk, just keep an eye out for mountain bikers and runner.
While in Crested Butte, be sure to enjoy our unique boutiques, shops and restaurants. The aspens are just beginning to change ... best time to visit is in a week or two. Call or email me to find out for sure.
Crested Butte Real Estate Sales Market Update & Information for August 2009.
It has been an excellent month for Crested Butte real estate and home sales. There are certainly signs that buyers are recognizing great values and making investment and lifestyle decisions that go hand-in-hand. Clearly the purchase of a fabulous, well-priced Crested Butte Vacation Home will provide more long term pleasure for you and your family than a stock portfolio. Don't get me wrong, a strong stock portfolio is a wonderful thing. Yet, it is even more wonderful to have a diversified portfolio that includes real estate, especially when that real estate is at the gateway of skiing, hiking, mountain biking, horseback riding, golf, fishing and 2 million acres of open space to play in!
August 2009 saw 27 properties in and around Crested Butte, Crested Butte South and Mount Crested Butte, including the most significant sale of the last 12 months: 146 acres at Brush Creek that sold for $2,325,000. At nearly $16,000 per acre, this beautiful property will probably have a fantastic home built on it in the not-too-distant future.
An interesting point to bring up is that several vacant lots have sold, including two in Skyland and one on Summit Road. This was the sector of our Crested Butte real estate market that was the most sluggish in months past. Thankfully no more.
One more interesting fact: 6 of 27 of these properties sold at or above asking price!
Does this mark a rebound of our market? I certainly hope so! What is does tell us for sure is that properties will sell at market, at, above or below asking. The key is to determine the optimal asking price and the market will know.
My listing at 25 Paradise Road in Mount Crested Butte sold in 60% less time than the average days on market?
If you or someone you know wants to sell a property at the highest price the market will bear in a reasonable amount of time, give me a call or visit my website for a free Home Valuation.
Thank you for reading. I hope you enjoyed my Crested Butte Real Estate Sales Market Update & Information
All that is interesting, magical and controversial about Crested Butte - from my point of view! Others, of course, are welcome to comment and share their point of view too.
Without a doubt, this blog will have a real estate bent ... after all, that is what I do. I plan to make it interesting and worthwhile for you to read.
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world-wide reach of the marketing that Sotheby's does to attract buyers and sellers to sothebysrealty.com, with a media schedule that includes Architectural Digest. And an exclusive affiliation with the Wall Street Journal that reaches some of the highest net worth individuals in the world.
We talked about how to more accurately price homes & properties when we're dealing with a moving target and how to use our global reach to market mountain resort homes. 
$325,000. A mere $172/sf! and 123 Huckeby, single family with over 2000 sf sold for $154/sf or $330,000. This was a bank-owned home and an amazing deal!
a short sale for $225,000 and 102 Horseshoe with 3 bedrooms/2 baths sold for $450,000
If there is something special you've been thinking about, let me find it for you. There are superb properties coming available every week, at really good prices. Let me tell you when the one you've been dreaming about comes available - before it's snapped up by someone else. I watch the market daily and can be watching it for you!
Fall Foliage Crested Butte Colorado. Yesterday we were heading out Kebler Pass to enjoy the single largest aspen grove anywhere in the world but decided to detour onto Ohio Creek Road since we had never been on it before.
Viist my 
Burning the Grump, along with everyone's grumps and complaints which have been collected in several boxes about town will cleanse us of any "bad" or unwanted feelings and start the season off fresh, ready for fall and a winter full of skiing. 
Looking for Fall Foliage in Colorado? Below are 6 places to drive or hike and enjoy the golden color of our abundant aspen trees. The hikes are easy, none of the drives require 4 wheel drive.
aspen trees all around that shimmer like gold in the light breeze. It so happens that Ski Colorado lists a number of drives and places to see the aspen trees in all their golden glory and many happen to be in and around Crested Butte. Lucky for me and for you, if you can make it here. Crested Butte is a mere 1/2 hour from the Gunnison Regional Airport, a lovely 4-4.5 hour traffic-free drive from Denver and the front range. Once you get to Crested Butte, we will delight you with fine and casual dining in our historic village, our majestic mountain views as well as golden aspens in all their fall foliage glory. Here are the top 5 drives or hikes on which to enjoy them best:
My listing at 25 Paradise Road in Mount Crested Butte sold in 60% less time than the average days on market? 
;)
;)
