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A Love Letter to Crested Butte

Crested Butte is a great place to be – winter or summer, full-time, part-time or first-time! There are so many wonderful things about the area and this community. I am working today, but yesterday was a storybook, bluebird winter day in Crested Butte – it was the kind of day that helped me remember why I am here and how lucky I am to get to help people realize their dream of having a place of their own here too.

The sun was shining, the temperatures were in the high 30’s and the snow was soft. This ski season has not been the snowiest, but it is still fun to get out and enjoy what we have. Crested Butte Mountain Resort has been busy getting extreme terrain open and the conditions up high vary from wonderful to rocky. The main mountain is 100% open and provides wonderful opportunities to enjoy the sun on long cruisers or test your legs on short or long mogul runs. This busy holiday weekend has all of the lifts open – including the old doubles – Teocalli & Twister. If you didn’t want to downhill ski, our Nordic Center does a great job providing groomed trails for cross country skiing. Yesterday was the perfect day to get out on them or to go up one of the many beautiful valleys that are accessible on cross country skiis. Really, no matter what you wanted to do outside yesterday you couldn’t go wrong.

It was a wonderful day for lunch on the Paradise Warming House deck and then enjoy a cocktail at the Sweet Spot while the kids played games & ate Crested Butte’s homemade Third Bowl ice cream. Dinner at Marchitelli’s Gourmet Noodle and supporting the right of women to live without violence by attending the local production of the Vagina Monologues.

What a great day! Every day here gives us the chance to relax, play, socialize and enjoy the area doing what makes us happy. Each Love Letter for Crested Butte would be different and mine would change from day to day too.

We have had some wonderful Crested Butte-style events this month as well. If you are looking for love, yesterday you could have experienced speed dating by chairlift. The annual Twister of Love event has proven to be popular and fun. I have never heard of a similar event and think it could be the perfect way to meet a like-minded mate! It is always right around Valentine’s Day so make your plans to attend next year if you need to find that someone special. We also had the First Annual Silver Queen Pageant last weekend. Over 20 young ladies competed for the title of Silver Queen & a ski pass with a bikini ski race, talent competition and evening gown bull-riding session. A truly hilarious event that is sure to draw crowds in the years to come.

Are you sad you missed these crazy events? Don’t despair – there are more to come! March 3rd brings 7 Hours of Banana – a competition to support Adaptive Sports Center by skiing as many laps as you can on our iconic run – the Banana. Costumes are not required, but will make it even more fun to watch.

March 9th will be a fun day in Crested Butte. Festevol is an outdoor concert series that has been held for 3 years. This year it will be a one day event featuring The Wailer’s. Tickets are not expensive and are available here . After you have danced to some great reggae music, head on down to Elk Avenue for the 6th Annual Big Air on Elk competition. Elk Avenue is blocked off and packed with people watching a snowmobile tow skiers and snowboards to a large jump in the middle of the street.

Check out the events page of my website for a complete list of events between now and the end of ski season and through the summer. We would love to see you!

Real estate sales in January were very similar to the end of 2012. The number of transactions were about the same as last year (24 vs. 25 in January 2012), but there was one $4 million sale last year that makes the dollar volume much lower.

There are a couple of good numbers for people who are trying to sell their property. The average days on the market for properties sold in January dropped from 372 in 2012 to 264 in 2013. Sellers also were able to sell their properties for amounts closer to what they were asking – 93% vs. 85% last year. This is a relatively small data pool since it is only one month, but hopefully will be the start of a trend. Unfortunately for sellers, but encouraging for buyers, looking at the same information, the price per square foot is down slightly year over year in all categories so it appears that we have not yet hit the bottom in terms of prices.

The number of properties on the market is about the same as it was in January of 2012, but has dropped nearly 30% from the peak in August 2009. We have also seen a dramatic decrease in the number of properties in the foreclosure process which should help prices stabilize and start to increase. As the supply continues to dwindle and demand increases we should see prices go up. We are already seeing a shortage of properties for sale in certain areas and/or price levels.

In an encouraging turn of events, the Elevation Hotel, located at the base of the ski area was purchased this week. The property has been in receivership since 2009 and is operated by CBMR. The new owner is Boxer Properties who are known for owning large office buildings, but have recently started acquiring hotel/resort properties. It will be exciting to see what this purchase means for this very central property in Mt. Crested Butte.

As always, I am happy to answer any questions you have about real estate or planning a visit to the area. Please let me know how I can be of assistance to you or anyone you feel could benefit from my services. I appreciate your business and your referrals.

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