Following the directives of a federal law passed in the Ski Area Recreational Opportunity Enhancement Act of 2011, Forest Service lands have new opportunities to utilize ski areas in the summer. Instead of asking for exceptions to the rules, ski areas such as Aspen, Snowmass, Aspen Highlands, Vail and Breckenridge will have the right to create summertime activities on the leased lands that are used during the winter.

What’s the catch? The new activities have to follow the guidelines per the press release from US Forest Service published on April 15th. In essence, any activity that is “natural resource-based, encourage outdoor recreation and enjoyment of nature” will be allowed.

The hope is to increase the activity and use of these areas to turn these winter resorts into year-round destinations. The Denver Business Journal quoted Colorado Senator Mark Udall as saying “”a great win for Colorado’s mountain towns. … We’re helping ski towns and resorts create hundreds of jobs and bolster communities during the shoulder seasons.” We can’t agree more!

If you want to make Aspen/Snowmass your year-round destination for fun, contact Greg Rulon and Stacey K. Kelly. They have helped many  clients find the perfect property to enjoy in every season.

1500 Ridge of Wildcat–What Will You Call it?

April 8, 2014
posted by Greg
Aerial View

Aerial View

The first time Greg Rulon sold 1500 Ridge of Wildcat, his client remembered the property 18 months later by Greg’s description of “Nearer to God”. The second time he sold the property to the client who was looking for “Shangri-La”.

exterior front

Located behind a gate on over 200 acres with 360-degree views of the Aspen/Snowmass area and at 9,400 feet above sea level, 1500 Ridge of Wildcat is a stunning home perfect for entertaining two to 100 guests. The 12,836 square feet of living space includes seven bedrooms, six full baths and four powder rooms, indoor oversized jacuzzi,  two elevators, and a double-sided 20-foot fireplace.

1500 Ridge of Wildcat great room         Snowmass Views            1500 Ridge of Wildcat guest bedroom

French doors throughout the home embrace the breathtaking vistas and abundance natural light from the 300+ days of sunshine that Colorado has every year. Minutes from world-class skiing at Snowmass Village and Aspen, this elegant home is part of the prestigious gated community of Wildcat Ridge and enjoys end of the road privacy.

Recently reduced to an asking price of $24,750,000, this one-of-a-kind property is available for purchase, water rights included. If you are ready to call this property “yours”, contact Greg Rulon and Stacey K. Kelly, the real estate team that makes you the priority.

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Since the first of the year, seven of the closed or pending 14 single family home sales in Snowmass Village have been in the “affordable” range under $1,750,000.

Three of the sold homes were off of Fairway Drive, adjacent to Snowmass Club golf course.  We assisted the Sellers of 353 Fairway Drive which had spectacular views of Mt. Daly and sold for $1,406,000 or $535 per square foot.

I think this trend reflects what we are seeing in the condomium market as well in Snowmass. The best “deals” are being recognized by buyers as opportunities and a chance to jump into the recovering Snowmass housing market.

Great skiing conditions and sunny weather are making spring breakers happy. A busy upcoming summer season with dozens of new activities, old favorite events, and groups booked are turning the tide here in Snowmass.

Don’t let these real estate opportunities pass you by. Call or stop in to visit Stacey K. Kelly or Greg Rulon at their Snowmass Village office and let them share their market knowledge to find the right property for you!

Higher end home sales continue to be soft….Creating real opportunities for Buyers!

 

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High-country real-estate sales slow slightly in 2013

By Jason Blevins
The Denver Post

Posted:   03/04/2014 11:15:56 AM MST | Updated:   a day ago

 
 

As if to confirm that the high-country heydays are forever gone, real-estate sales in Colorado’s resort counties declined slightly in 2013, maintaining the back-to-reality theme of the past few years.

The mountain market crashed spectacularly five years ago, ending a real-estate gold rush from 2005 to 2008 that was powered by record numbers of sales and sky-high prices.

In a slow climb out of the recession, the total value of mountain home sales has barely reached the halfway point of the high-country zenith of about $10.1 billion in 2007. Sales in 2012 reached a post-recession high of just over $4.8 billion, suggesting that the market was recovering. But a slight slide to less than $4.7 billion last year reveals that Colorado’s once-impervious resort real-estate market is still wobbly.

Declines in high-end real estate — those mountain manses priced higher than $10 million — pushed down overall sales volume in Vail’s Eagle County, Telluride’s San Miguel County and Aspen’s Pitkin County in 2013. But homebuying locals and sales of more affordable vacation homes fueled increases in Grand, Routt and Summit counties.

In nearly every county, the total number of transactions increased slightly.

The varied high-country real-estate landscape is the new normal: It looks a lot like a typical real-estate market.

“I think the days of rampant growth and rampant volume probably are behind us,” said Vail Board of Realtors chairman Mike Budd, a broker with Berkshire Hathaway Home Services in Edwards.

In the Vail Valley, where home purchases typically are evenly split between locals and second-home buyers, sales were brisk on the low end as locals scoured a tight market. Sales flattened in the mid-range — $750,000 to $1.5 million — and the high end declined.

The total number of transactions in Eagle County in 2013 — 1,766 — was close to the long-term historical average.

“What we really saw was a pretty stable market,” Budd said. “It looks like a more normal scenario.”

A similar scene unfolded in the upper Roaring Fork Valley, home to Aspen and Snowmass Village. Sales volume was flat. The high end wilted, especially toward the end of the year. But around Aspen, the number of transactions climbed 27 percent. For Pitkin County, transactions increased about 10 percent.

“The theme I used for the year was ‘More for less,’ ” said Tim Estin, an Aspen-area broker who tracks Roaring Fork transactions in his Estin Report.

Land Title Guarantee Co., which tracks high-country sales, reported that average single-family home prices fell in pricey Eagle and Pitkin, and remained close to even with 2012 in Grand, Summit, Routt and San Miguel.

The average home price in Eagle County fell below $1 million for the first time in several years, and the average in Pitkin fell to $3.48 million, down from a record $5.12 million in 2008.

Median prices increased in Eagle, Grand and Routt, while they fell slightly in Summit and dropped 14 percent in Pitkin.

The uptick in total transactions around Aspen and Snowmass prompted Estin to call 2013 “a healthy year.”

“Buyers are coming into the marketplace, and they are finding bargains,” Estin said. “Plus, the fact that inventory is falling and demand increasing suggests that at some point in the future, we are going to see an uptick in prices.”

Jason Blevins: 303-954-1374, jblevins@denverpost.com or twitter.com/jasontblevins

Read more: High-country real-estate sales slow slightly in 2013 – The Denver Post http://www.denverpost.com/business/ci_25271833/high-country-real-estate-sales-slow-slightly-2013#ixzz2vCU1bLoc
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Greg Rulon and Stacey K. Kelly of Joshua & Co. were awarded the distinction of “Christie’s International Real Estate Luxury Specialist for 2014.” The Christie’s International Real Estate and Christie’s Education specialist designation was awarded recently at the Top Agents Conference in Scottsdale, AZ.

Luxury Agents-Christie's International Real Estate

Greg and Stacey were identified as part of the 140 most successful real estate professionals in the Christie’s International Real Estate network, the world’s leading network of real estate brokerages and the real estate arm of Christie’s auction house. Criteria for participation in the conference included a requirement that each attendee be among the top 10% of sales for his or her Affiliate brokerage.

 

“We were delighted that Greg Rulon and Stacey Kelly participated in our Top Agents Conference,” said Bonnie Stone Sellers, CEO of Christie’s International Real Estate. “Together with Christie’s International Real Estate and Joshua & Co. , Greg and Stacey are leaders in the luxury real estate market and are positioned to meet the needs of the world’s most discerning buyers and sellers of luxury real estate.  This specialist symposium offered insights into marketing to the upper-tiers of the luxury market, and allowed attendees to explore ways in which to increase their level of service to clients through their exclusive connection with Christie’s International Real Estate.”

This two-day networking and educational event featured seminars led by top industry experts and senior executives of Christie’s and Christie’s International Real Estate. Topics included how to position a listing to attract buyers worldwide; negotiation strategies in the luxury end of the real estate market; how to take advantage of state-of-the-art global marketing techniques; and Christie’s perspectives on the art market and its connection to the luxury real estate sector.

Conference guest speakers included Milton Pedraza, CEO of The Luxury Institute, a leading voice about high-net-worth consumers; Michael Kamins, consultant with the Gap Partnership, which delivers negotiation advice to more than 350 corporate clients; Paul Hewitt, Managing Director of Growth Markets for Christie’s in Europe, the Middle East, Russia and India; Julie Reiss, Associate Professor, Christie’s Education; Paul Provost, Deputy Chairman, Christie’s Americas; and Jonathan Stone, Chairman of Asian Art, Christie’s.

“It is an honor to have Greg Rulon and Stacey K. Kelly designated as a Christie’s International Real Estate Luxury Specialist,” said Joshua Saslove, President of Joshua & Co. “This is a powerful tool that will not only help these agents distinguish their businesses within the marketplace, but will elevate their global standing in the luxury sector. I applaud their hard work and leadership and look forward to their implementation of new concepts and strategies garnered from the experience.”

Colorado Resort Real Estate Snapshot

February 4, 2014
posted by Stacey Kelly

New data came out today, compliments of Land Title Guarantee Company, that compares the resort real estate markets of Colorado based on the individual counties. Some of the ski areas overlap, but in essence the counties correlate to the following ski areas:

Eagle County = Vail
Garfield County  = Sunlight (Glenwood Springs)
Grand County = Powderhorn (Grand Junction)
Pitkin County = Aspen/Snowmass
Routt County = Steamboat Springs
San Miguel = Telluride
Summit = Breckenridge/Keystone/Copper Mountain

Click here to see the full detail report, including gross sales per county for the past 9 years and percentage of the total sales were bank sale transactions. Overall, the number of transactions and the average residential price per square foot has increased in all resort areas of Colorado when comparing 2013 to 2012. Pitkin County still has the highest residential average prices in Colorado ($300,000 higher than San Miguel based on the median sale price) and number of transactions (340 more than Summit) in third quarter 2013.

Of course, raw numbers only give you half of the story. Contact Greg Rulon and Stacey K. Kelly for the whole picture and how it pertains to you and your real estate goals.

 

Dial A Ride and Permit Parking-Snowmass’ Next Best Thing

January 29, 2014
posted by Stacey Kelly

Snowmass Village has the most ski-in/ski-out properties when compared to Aspen Mountain, Buttermilk, and Aspen Highlands, but not every property has the ability to put skis on and schuss out the back door onto the ski piste. For those properties that aren’t ski accessible, Town of Snowmass Village makes it easy to access the rest of the community via the homeowner permit parking, town shuttles, and a Dial-A-Ride system.

Any homeowner, with proof of ownership within the Town of Snowmass Village, can purchase a parking permit good for any of the numbered lots located along Carriage Way (Snowmelt Road) for $55 per year. A second permit is $100 additional, or a restricted parking permit is available for $35 which is good for only lots 10-13, all of which is just a short walk to the ski runs.

Second, the Town of Snowmass runs a free scheduled shuttle service through major thoroughfares of the community. If one end or the other of your trip within Snowmass Village is not served by the Town’s free shuttle service, then during the winter ski season we have Dial-A-Ride. This operates during the ski season only from 8:00 a.m to 9: 00 p.m. & sends a Mountain High Taxi to you house & takes you anywhere in the Village for $1.00 per person. The Town of Snowmass subsidizes this service instead of the much more expensive  alternative of running shuttles on little used routes.

If that is not easy enough, a season parking permit in the private Base Village garage is available for around $1,000. Just take the escalator/elevator to the gondola! Less expensive than paying the $ 1 million or more premium for a ski in/out home!

Any way you look at it, all of these make ski access easy for the best ski mountain in the wolrd, Snowmass Mountain!

 

 

2014 Housing Predictions from Realtor.com

January 28, 2014
posted by Greg

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A Look Ahead

Experts Predict 2014 Housing Market

2013 Real Estate Review, Buy, Sell

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Dec 6, 2013

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The U.S. real estate market made a robust comeback in 2013, surpassing expectations of many economists, as the combination of low inventories and historically low interest rates caused home prices to rise and even helped fuel bidding wars in some markets, surpassing the expectations of many economists. While positive trends, such as increasing home values, are expected to continue into 2014, mortgage rates are also expected to rise in the coming year and could put a damper on home buyers’ abilities to afford new homes.

Looking back at some 2013 data can give us a hint of the year ahead:

Predictions - Inventory

1. Inventory Should Gradually Stabilize and Return to Traditional Seasonal Levels

The beginning of 2013 could be characterized as the “year of low inventory” as buyer demand ramped up and homeowners waited for further price increases and evidence of a solid economic recovery before putting their homes on the market. The year began with a significant shortage of inventory (reported by realtor.com®), and then as early as February the level of shortages started to decline slowly. As 2013 comes to a close, inventory is approximately the same as a year ago. However, homes are selling faster than in 2012, with the median age of the inventory down by 11 percent.

2. More Homeowners Are Likely to Return to Positive Equity

Rising prices helped 2.5 million homeowners who were previously underwater regain positive equity status during the second quarter of 2013. However, approximately 7.1 million homes were still in negative equity at that time and an estimated 10 million homeowners, or about 21.1 percent of all homeowners with a mortgage, remained “under-equitied,” with less than 20 percent in home equity. The good news is that prices are expected to continue rising in 2014, which will lift more homeowners into positive territory. According to realtor.com®, median list prices for homes in October rose 7.57 percent above the same month of 2012.

3. Mortgage Rates Are Expected to Rise

Mortgage rates increased approximately 100 basis points in 2013 and are likely to rise in 2014. The new chairman-designate of the Federal Reserve, Janet Yellen, is expected to continue the policies of Chairman Ben Bernanke, including keeping mortgage rates low by buying blocks of mortgage-backed securities. However, the Fed has considered tapering its bond-buying activity as the economy improves, which could lead to a slight increase in interest rates.

Predictions - Foreclosure

4. Foreclosure Activity Is Expected to Slow

Foreclosure sales are likely to play a minimal role in the housing market in 2014. September 2013 was the 36th consecutive month with a year-over-year decrease in foreclosure activity. Foreclosure inventory has dropped to multi-year lows, down nearly 33 percent since the end of 2012. Foreclosure starts were down 39 percent in the third quarter of 2013 to the lowest level since the second quarter of 2006.

5. Further Declines in Home Affordability Are Expected

The National Association of REALTORS®’ Home Affordability Index, which compares home prices with income, dropped to a five-year low in 2013 as price increases outpaced income growth. If the U.S. economy begins to grow at a faster pace and incomes begin to rise, though, the affordability index will slide further from rising mortgage rates.

While no one can predict with certainty what the housing market holds in store for 2014, a constant in real estate is always that local markets vary widely in their performance. National numbers can tell a story about the economy in general, but home prices, inventory and foreclosure activity depend on local market conditions. Contact a Realtor® in your community for the most up-to-date  information about your market.

Highlands SkiMo Race Series banner
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Chris Bove Memorial Uphill

 
 
When: February 22, 2014

Where: Snowmass

Join uphill enthusiasts and friends of Challenge Aspen for an exciting trek up Snowmass Mountain to benefit the Challenge Aspen Local Scholarship Fund and the Children’s Hospital Immunodeficiency Program of Denver (CHIP). 

Held at Snowmass for the first time in the event’s history, the trek will begin at the Snowmass Base Village and climb 1.74 miles and 1,368 vertical feet to Elk Camp Restaurant, where a pancake breakfast will await registered participants. Anything goes for the race: snowshoes, stabilizers or telemark skis. 

The race is dedicated to the memory of Chris Bove, a well-loved friend, ski instructor and strong supporter of Challenge Aspen who lost his life on the eve of the 2007 event.

Essential Information

For more information on registration and details surrounding the event, visit Challenge Aspen’s website.

244 Antler Ridge Lane-Built for Your Future

January 24, 2014
posted by Greg

Snowmelt driveway, Snowmass home

Live in the future on the top of Ridge Run!  New four-bedroom home plus office with a fantastic Neff Kitchen, inviting living spaces and top of the line fixtures. Beautiful wide-planked walnut floors with tall walnut doors, super smooth Venetian-plaster walls, and unique light fixtures showcase the furnishings and art, all included.

Neff Kitchen, Snowmass Home for Sale

The master bedroom and office are located on the main level with three separate sitting areas, butler’s pantry, dining area and two decks with wide views of the Snowmass Valley. The lower level boasts a recreation room with wet bar, three bedrooms all en suite and direct access outside, the home’s fourth fireplace, second laundry room and second powder room. In addition, there is room to easily expand the recreation area for a pool table, theatre, or gym. Xssentials (formerly ESC) has pre-wired the home for integrated control of the audio/visual system, lighting, climate, and security system with cameras.

Snowmass Views, fireplaces, living areas

Jump onto the Tom Blake trail or soak up the views of the common open space from the private hot tub from the back patio. Cul-de-sac privacy with top of the mountain views complement the copper gutters, stacked stone siding, and snowmelt walkways. The beauty and construction of this home will be enjoyed for and by generations to come.