Will Summit County property values be affected by the Pine Beetle epidemic?

The Pine Beetle has devastated our forests in Summit County and many Silverthorne, Frisco and Breckenridge homes have felt the effects as one after another, trees have died.  I have experienced it first hand, as my home in Mesa Cortina, which backs to Forest Service land, has been in the thick of it.  The beetle hit Grand County first and have been moving south.  Currently, most of the lodgepole pines in the forest around the Silverthorne area  are brown, and more will turn brown next year as the beetle infest new trees when they fly in July.  Our neighborhood has been diligent about spraying and taking out infected trees, but it is almost useless as there are so many beetle.  The best we can do is cut down dead trees to reduce the fire danger.

pine beetle killed trees

Frisco is being hit as the beetle are moving further south, and Breckenridge is also beginning to see brown trees. Many of the people searching for Summit County real estate want cabins in the woods and don't want to feel that they are in the suburbs.  For that reason, although we have few "cabins", wooded area are very popular with buyers, and homes that are adjacent to Forest Service land sell for a premium.

Most of us who live here realize that mother nature will have her way, and when the trees are dead and removed, the aspen, spruce and young pines that are in the understory will get more light, grow faster, and fill in fairly quickly.  Our views will improve and the autumn will be even more beautiful as the aspen leaves turn.  You can see in this photo to the left that there are plenty of aspen that are still green, and they will flourish without the pines competing for water and light.   Our fire danger should decrease and overall, it won't be such a bad thing.  It will be painful while it happens, as the trees are unsightly until their brown needles fall off  and  removing trees can be expensive.  Spraying the trees during the summer is the only way to protect them and even then it is not a guarantee. 

beetle killed trees

So far, I have noticed no decrease in property values due to the pine beetle.  In fact, the average price of homes has increased more than 16% over last year and there are 25% fewer homes and condos on the market.  Buyers are asking Sellers to identify and remove all beetle trees before the closing occurs.  They know there is a chance that more trees could be infected the next year but are willing to accept the risk as part of living in the woods. Every part of the county has good views, and people will appreciate being able to see them from their homes, even though they mourn the loss of some trees.  In the past it has been hard to have both trees and views, but now it may be possible!  These photos were both taken in the Forest lands behind my home.  The Forest Servide will shortly be taking the dead trees out as part of a wildfire mitigation plan.

 

9 Comments on Will Summit County property values be affected by the Pine Beetle epidemic?

That's the first we have heard of the pine beetle.  Very informative.

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06/10/2007 04:04 PM by Tim & Pam Ross-Wade (CENTURY 21 Lakes Region Realty)


You are lucky not to have it in New Hampshire.  Beetles of some sort are affecting the entire Rocky Mountain region, and even the Pinon pine in New Mexico.  I was in Sun Valley Idaho last winter and their Spruce trees are being hit.  Global warming is getting the blame as the temperatures no longer drop to cold enough levels to kill the bugs. 

06/10/2007 04:08 PM by Summit County, Colorado Realtor l Joanne Hanson (Coldwell Banker Colorado Rockies Real Estate)


Joanne; we go through this about every 10 to 20 years - it is devastating while it happens - we have been able to recover - only because they allowed logging for a short time - we have the spotted owl issue here - but to save the rest of the trees they did allow a lot of deceased timber to be removed.

06/10/2007 09:29 PM by Central Oregon Real Estate | Thesa Chambers, Broker (RE/MAX Sunset Realty La Pine)


The last time it went through here was around 1985 and when we had two really cold winters in a row it killed the beetle.  Our winters are just too warm any more!  We did have a cold week or two this year, but not cold enough.  The Forest Service will be doing some logging, but only around inhabited areas.  The rest of the forest will just have a lot of standing dead timber in it.  At least we don't have spotted owls, but the lynx and the boreal toad sometimes become issues.

06/10/2007 10:02 PM by Summit County, Colorado Realtor l Joanne Hanson (Coldwell Banker Colorado Rockies Real Estate)


Joanne- I've been surprised at how much it has spread. I also remember the infestation in the 1980s. Hopefully it can be addressed so that we won't loose whole forests.

06/15/2007 09:57 PM by Jennifer Steck- Denver Real Estate (Rocky Mountain Homescapes, Keller Williams, Denver Colorado)


It has been the real estate marketers in Summit County who have been behind the 16% figure you mention.  It is all about making big money NOW.  This has been coming for years.  The idea of buyers paying hundreds of thousands of dollars to live in a dead forest and waiting until they are 125 years old for the return of mature trees is an unlikely unfolding of the situation.  Greed has driven some very unwise and unstable market conditions in Summit County.

03/01/2008 06:08 PM by t bill


HI T Bill, I don't disagree with you that greed as caused prices to increase somewhat, but I do take issue that it is "real estate marketers".  Sellers are the ones that set prices, and I often disagree with them, but the market is what determines the prices in the end.  If no buyers are willing to buy, prices come down.  You can see that all over the country. I have not seen instability in this market however.  I am cautious about the coming year, but as long as baby boomers have money and want to buy second homes, and many do, our market will be ok. 

03/01/2008 06:25 PM by Summit County, Colorado Realtor l Joanne Hanson (Coldwell Banker Colorado Rockies Real Estate)


As a former resident and recent visitor to Breckenridge and Summit County, I see a dead and dying forest.  It really started some years ago.  I would have to agree that T Bill has a point about the "Real Estate Marketers".  I know many there.  The Realtor's "line" during the past several years has been along these lines - "There is no more land.  You need to buy now."  Joanne, many, if not most, of your baby-boom buyers rarely spend a day in these homes.  These second-home buyers bought expecting a future much different than what is coming to light now.  It was an investment by the wealthy with more cash than they knew what to do with.  Kind of sad really, to see one after another of the empty homes.  But, that is beside the point.  The real estate that buyers were encouraged to buy before it's all gone is very different now.  Clearly the pine beetle was not a part of the "real estate marketers" sales strategy in recent years.  

03/14/2008 11:58 AM by DIM


Property values in Winter Park have been affected by the Pine Beetle but they are much further along in the cycle than we are here.  People here are aware of it but still are buying property.  More than 2/3 of our business is from second home buyers, and yes, many sit empty much of the year.  We are losing much of our forests, unfortunately.  Thanks for your comment!

03/14/2008 12:07 PM by Summit County, Colorado Realtor l Joanne Hanson (Coldwell Banker Colorado Rockies Real Estate)


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Real Estate Agent: Summit County, Colorado Realtor l Joanne Hanson (Coldwell Banker Colorado Rockies Real Estate)
Summit County, Colorado Realtor l Joanne Hanson
Frisco, CO
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