#1 Properties Newsletter July-August 2021

“It doesn’t matter if a cowboy lives in the mountains or in the flats, as long as it’s warm and there’s a place to lay his hat.”

— Anonymous

J U LY - A U G U S T 2 0 2 1

there’s only one #1

»CFD’S ECONOMIC IMPACT

Cheyenne Frontier Days is more than that ten day party that turns the city into a bustling, modernday Old West town; more than the series of rodeos and night shows, parades and pancake breakfasts.

How much more? Read on:

According to an economic impact study by Dean Runyan Associates, out of Portland, OR, using data generated from the 2018 CFD festivities, a total of 543,705 people attended all combined events during the ten-day celebration, and a total of 247,655 tickets were sold.

Economic impacts resulting from direct visitor spending surrounding the event totaled approximately $27.1 million, down slightly from $28 million in 2015, which was a record year for attendance.

During Cheyenne Frontier Days, Cheyenne and Laramie County host visitors from not only across town, but across all fifty states and around the globe.

According to the 2018 study, visitors who reside outside of Laramie County spent • $21.7 million in Laramie County: • $5.3 million in restaurants and bars • $5.1 million on overnight accommodations • $7.8 million on entertainment and recreation, including ticket sales • and $8.8 million on retail purchases, including motor fuel and groceries.

Other direct economic impacts include approximately 302 full and part-time jobs, $5 million in wages/salary disbursements, and $633,000 in local tax revenue. The total economic impacts resulting from direct visitor spending (which include secondary

»Recipe Corner

impacts) resulted in approximately $35 million of business activity generated for Laramie County.

2018 PROFILE OF CHEYENNE FRONTIER DAYS ATTENDEES

The majority of Cheyenne Frontier Days attendees participated in a Frontier Nights/ Concert (72%) and/or the Rodeo (74%).

A large portion (68%) attended Cheyenne Frontier Days during a previous year.

Attending Cheyenne Frontier Days was the primary purpose for travel to Laramie County for the vast majority of overnight (79%) and day (97%) visitors.

Just under half (49%) of Cheyenne Frontier Days attendees stayed overnight while traveling.

Among overnight visitors, over half (68%) stayed in a hotel, motel, lodge, or B&B; most of the remainder stayed in private homes with friends and relatives, or in campgrounds.

Cheyenne Frontier Days attendees traveled to or through a number of Wyoming communities and places including: Laramie, Casper, Yellowstone National Park, Jackson Hole, Snowy Range, and Cody.

After a year of missing Cheyenne Frontier Days - the first in its 125-year history - we can’t wait to celebrate with you. What are you looking forward to most? https://www.cfdrodeo.com/2019/01/cfd-releasesupdated-economic-impact-study/

INGREDIENTS

This Cast-Iron Lemon Blueberry Cobbler is sweet and tart and bursting with berry flavor!

Prep time: 10 min Ready in 45 min Serves 8

¼ c. salted butter 1 c. all-purpose flour Preheat 2 t. baking powder oven to ½ t. salt 450° 1 c. buttermilk ½ c. brown sugar, plus 2 T. ½ c. white sugar zest from one lemon 6 T. fresh squeezed lemon juice 1 t. vanilla extract 2 c. fresh blueberries, washed & stems removed plus 1 cup

DIRECTIONS 1. Mix together the flour, baking powder, and salt in a large bowl.

https://tasteandsee.com/cast-iron-lemonblueberry-cobbler/

2. Stir in the buttermilk, 1 cup sugar (brown + white), 4 T. of the lemon juice, zest and vanilla.

Celebrating b30 years b The Greater Cheyenne Greenway is celebrating 30 years!

One of our favorite things is getting out on the Greenway each summer and exploring - and you can just about explore the whole city from there!

You never know who you’ll run into - and since it’s Cheyenne, you usually wind up making a new friend or two! Since 1991, the Greater Cheyenne Greenway (the Greenway, in local lingo) has grown to encompass over 44 miles of safe, separated, non-motorized paths in the Capitol City. The 10-footwide concrete paths provide connectivity throughout Cheyenne for recreation, relaxation, and transportation!

We absolutely love seeing friends and neighbors out enjoying their time on the Greenway; whether they’re walking their dogs, riding bikes, or simply meandering through this amazing city of ours! For a current map of Cheyenne’s Greenway system, check out this map in our Relocation Guide! http://bit.ly/ReloGuideCheyenne

3. Mix together the remaining 2 T. brown sugar, remaining 2 T. lemon juice, and the blueberries in small bowl or medium bowl as needed.

4. Place the butter in a 10-inch cast-iron skillet and transfer to the preheated oven to melt, and heat the pan for 5 minutes.

5. Remove the hot skillet with the melted butter from the oven and pour in the batter. Top with the sugared blueberries – sprinkling them all over the pan evenly. Turn the oven down to 375 degrees and bake for 20 minutes, then add another cup of berries on top of the cobbler, strategically placing them to make it pretty. Then bake 10-15 more minutes.

6. Transfer to a baking rack to cool slightly.

7. Serve with vanilla ice cream or whipped cream

THINGS TO DO:

Creating an » Elegant

JULY 15-18...and beyond!

Outdoor Retreat!

THE 65TH OLD FASHIONED MELODRAMA

7PM at the Atlas Theater. Also performing Jul 22-Aug 1 and Aug 5-8. Call 307-638-6543 for tickets.

17-18

2021’s Color of the Year not just for indoors!

While dark exteriors have become something of a “thing” in other locations, you don’t have to go the whole hog to capture that elegant color! If you’re preparing for CFD guests, check out our favorite colors for updating your own outdoor retreat!

Sherwin Williams 2021 Color of the Year, Urbane Bronze, is our favorite pick for a truly elegant outdoor retreat: it’s a rich, grounding brown with gray undertones that lends sophistication to any space. We love the idea of adding elements to a back yard space to create the ultimate elegant retreat! For exterior purposes, use a good quality exterior paint that is self-priming and resistant to color fade, blistering, and peeling - such as Sherwin Williams Emerald Exterior paint in a satin finish.

An easy way to make your outdoor space feel comfortable is to soften it with textured, durable, and weather-proof fabrics. Try a

PAINT SLINGERS ART FESTIVAL

Artists from Cheyenne & the Front Range cover the downtown in color! Hub at 707 W. Lincolnway, West Edge Collective

23-AUG 1

CHEYENNE FRONTIER DAYS TM

light-colored outdoor sofa and give it pops of color in Urbane Bronze and Red Barn or Rustic Red. Got a storage shed in your back yard?

Urbane Bronze looks just as beautiful on a winter day as it will in summer. Paint your garden shed or wind break (this is Wyoming, after all!) and accent with outdoor decor that complements your style.

Create a garden with a variety of patio pots - large, small, and in between. Here in Hail Alley, hail can be a fairly regular occurrence, so a movable garden - painted pots using your main and accent colors - might be just the thing!

g

Word On The

»Street!

This is not a bubble! The housing market is HOT, HOT, HOT, but leading economists say a crash is not imminent! What makes 2021 different than 2007-08? 2007 brought us low down payments, flexible mortgage rates, and an oversupply of homes!

The current combination of low inventory and high buyer demand means the risk of overbuilding is minimal.

Existing Homes for Sale 2021:

Existing Homes for Sale 2007:

1.16 MILLION*

4 MILLION

*as of April 2021

Down Payments are UP More money down means more equity at the start. Leading up to the market crash in 2008,

28

CHEYENNE DAY & USAF THUNDERBIRDS

Celebrate our town and enjoy the Thunderbirds from FE Warren Air Force Base. cfdrodeo.com

AUGUST 1

CHAMPIONSHIP SUNDAY RODEO

Let’s GO! Let’s SHOW! Let’s RODEO! cfdrodeo.com

3-14

LARAMIE COUNTY FAIR

A family tradition since 1907, see all of the events at laramiecountyfair.org

5-8

71ST ANNUAL PINE BLUFFS TRAIL DAYS

down payments were low (9% compared to today’s typical down payment, 15.9%).

More Fixed-Rate Mortgages Before the 2008 market crash, more buyers gambled with adjustable-rate and fixedthen-adjustable rate mortgages (15% in 2007 compared to 4% in 2020!)

Lending Restrictions are Tight!

It’s harder to qualify for a mortgage you can’t afford. Foreclosure filings were at a 15-year low in February 2020 before pandemic forbearance.

Foreclosure Filings: March 2008: Feb 2020: April 2021:

234,685

Celebrating our Western roots with a festival unlike any other! Daily rodeos, Frontier Nights® concerts, Western Art show, Cheyenne Day, USAF Thunderbirds, carnival, and so much more! cfdrodeo.com

48,004 11,810

Source: Redfin, National Association of REALTORS, Attom Data Solutions

Celebrate the West in Pine Bluffs, WY during the Trail Days Celebration the first full weekend in August! Five days of FUN in Pine Bluffs! facebook - @PBTrailDays

20-22

THE EVENT AT ARCHER

USEA/USEF Event at Archer HT. An “equestrian triathlon” - dressage, endurance, and show jumping, drawing competitors from WY, CO, MT, NM, AZ, SD, ID, KS, and UT. www.eventatarcher.com

ON-GOING EVENTS FRIDAYS ON THE PLAZA

13-week music series at The Depot Plaza, with food and drinks cheyenneevents.org/fridays

HELL ON WHEELS RODEO

Friday nights during the summer at The Archer Complex. facebook @Hellonwheelsrodeo

MARKET SNAPSHOT

CHEYENNE AND SURROUNDING LARAMIE COUNTY RESIDENTIAL PROPERTIES JAN 1, 2020-JUN 30, 2020 | JAN 1, 2021 - JUN 30, 2021

6106 YELLOWSTONE ROAD | CHEYENNE WY 82009

It’s a remarkable market!

RESIDENTIAL M A R K E T D ATA J A N 1 -J U N 3 0 YEAR OVER YEAR

2020

2021

1/1 - 6/30

# SOLD 1019 AVERAGE SALES PRICE $294,000 GROSS DOLLAR $300 MILLION VOLUME SOLD

1/1 - 6/30

1136

11%

$330,000

12%

$375 MILLION

25%

24

AVG DAYS ON MARKET 31

5

MEDIAN DAYS ON MARKET 11

Every day is a different experience in this crazy market.

Give us a call to see how your property would fare in this sales environment or just for some We’d love to crazy stories! hear from you!

Based on information from Cheyenne MLS for the period of 01/01/2020 through 06/30/2020 and 01/01/2021 through 06/30/2021. Not all properties were listed and/or sold by #1 Properties.

This representation is based in whole or in part on content supplied by Cheyenne MLS. Cheyenne MLS does not guarantee, nor is it in any way responsible for its accuracy. Content maintained by Cheyenne MLS may not reflect all real estate activity in the market. All information deemed reliable but not guaranteed, and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor #1 Properties shall be responsible for any typographical errors, misinformation, misprints, etc, and shall be held harmless.

THE CODE OF THE WEST In keeping with our cowboy heritage, we at #1 Properties strive to embody the “Code of the West.” Happy Frontier Days, friends - we hope you have a rip roarin’ good time!

1 LIVE EACH DAY WITH COURAGE. 2 TAKE PRIDE IN YOUR WORK. 3 ALWAYS FINISH WHAT YOU START. 4 DO WHAT HAS TO BE DONE.

che ye nneh omes. c om

5 6 7 8 9

BE TOUGH, BUT FAIR. WHEN YOU MAKE A PROMISE, KEEP IT. RIDE FOR THE BRAND. TALK LESS AND SAY MORE. REMEMBER THAT SOME THINGS AREN’T FOR SALE.

10 KNOW WHERE TO DRAW THE LINE. like | follow | connect