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Breckenridge Associates Real Estate Fall Edition | 2010
Breckenridge’s Economic Forecast Optimistic Heading Into Winter If you had the chance to stroll through Breckenridge this summer you surely would have experienced the hustle, bustle and energy of town. A very lively Main Street, crowded restaurants and music wafting from the Riverwalk Center were just a few indicators that Breckenridge was a popular summer tourism destination this year. Likewise, evidence showed signs of an improved Breckenridge economy noting a 3 percent increase in tax revenue for July over the previous summer, and year-to-date numbers through August were up more than 1.5 percent over 2009. Beyond Breckenridge, Silverthorne’s numbers were reportedly up by 1 percent t hough Fr isco wa s dow n less t ha n 1 percent through August when compared to 2009. Summit County’s sales tax for the unincorporated areas of Summit County (i.e. Keystone and Copper Mountain) also showed a decline. However, resort town reservations indicated positive trends with August and September occupancy on the rise by more than 10 percent in mountain destinations over the previous year. Coming off of one of the most beautiful falls we can remember with warm temperatures and sunny skies well into October, the winds have since shifted and the tone has been set for winter as Mother Nature officially kicked off ski season with one whopper of a threeday snowstorm in late October. Temperatures have dropped, snowmaking is going strong and it appears winter is well on the way. With snow as a key driver in destination visitation
and bookings, we’re off to a strong start and hopefully able to continue to gain momentum early in the season. Though vacation plans tend to happen in a shorter booking window than they used to, predictions can be made into the winter months by evaluating reservations “on the books”. According the Mountain Travel Research Program (MTRiP), which specializes in industry-wide research in the lodging and reservations world, mountain tourism is showing slightly positive trends for the winter ahead. Reservations are pacing ahead of 2009-2010 for almost every month of the 2010-2011 ski season. MTRiP works with lodging clients in mountain destinations such as Breckenridge, Vail, Aspen, Telluride, Park City and Tahoe. Vail Resorts’ bookings are also up in revenue and room nights over last season. Recent news from Vail Resorts, as reported in their fiscal year 2010 earnings release, indicated that the mountain segment grew last season in both skier visitation and resort revenue. In fact, growth was seen among the resort operator’s mountain division despite a historically low snow year and challenging economy. Further drivers of an optimistic winter include several resort improvements and amenities for guests. In Breckenridge, One Ski Hill Place, A RockResort™ will not only offer an upscale slopeside lodging option, but also adds a 20,000 square foot skier restaurant “The Ski Hill Grill” and an après ski venue “The TBar”. “Gold Runner Coaster”, Breckenridge’s
—Source: Summit Daily News-September 17 &19, 2010, October 22, 25 & 28, 2010, mtrip.org, vailresorts.com & fs.usda.gov
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Table of Contents Breckenridge’s Economic Forecast......Page 1-2 Real Estate Prices........................................Page 2 Vail Resorts’ EpicMix.................................Page 2 Events Calendar...........................................Page 3
Website Launch............................................Page 4 Real Estate Hot List….................................Page 4 Short Sale Information.............................Page 4
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229 S. Main St. Breckenridge, Colorado | 970.453.2200 | 800.774.7970 | www.breckenridgeassociates.com
Busy Breckenridge (continued) on-mountain roller coaster is set to open early in the ski season, as construction is near completion. The Village at Breckenridge has undergone an exterior renovation, featuring a new clock tower, visible throughout town. The Peak 6 Expansion Plan is still on the table as the U.S. Forest Service has been working over the last two years to address social and natural resource issues. The proposed plan includes developing ski terrain, a chairlift, a food and beverage facility and a ski patrol/warming hut within the Peak 6 area of Breckenridge Ski Resort. Additionally, Arapahoe Basin is opening its new high-speed, detachable quad, the Black Mountain Express Lift. Copper Mountain plans to unveil a new mountain master plan, and Keystone has made upgrades to Kids’ Adventure Zones and added a new Kids’ Terrain Park Moving into the next five months, we are hopeful the perfect storm is brewing to make it a successful season ahead. Steady business and bookings, early snowfall, continued investment and development in the area are all encouraging signs that Breckenridge and the surrounding communities are headed down the path to a great winter season. Breckenridge and the communities of Summit and Park County are the perfect places to call home in every season. Contact us today to learn more about real estate opportunities in the area. Let us help you find your mountain dream home in time to enjoy winter ski season in the high country.
Have Summit County Real Estate Prices Dropped? This is an excellent question and piquing the interest of the majority of our real estate clients. Year-to-date (YTD) transaction numbers, including all residential (homes, townhomes and condos) in the Breckenridge market, are up slightly over 2009. Average sale price is down 15 percent though price per square foot is down only 6 percent. There have been 275 total transactions YTD over 272 for the same time period in 2009. Average sales price YTD is $695,457 compared to the same time period of 2009 at $819,000. Average sold price per square foot YTD is $356 over 2009’s $378 for the same time period. (YTD is defined as Jan, – Sept. 2010.) The mix of what has sold so far this year has included smaller and less expensive properties, driving down the average sale price artificially. This is why the number cannot accurately be viewed in isolation from the sold prices per square foot, which went down only 6 percent. There’s no escaping the fact the overall prices have retreated in the Breckenridge area. However, by no means have they plummeted. There are some fantastic deals to be had, but this is not universally the case across all property types and price points. A stable market consisting of many sellers who are choosing to “wait it out” has helped local real estate to avoid a more considerable slide in price. Contact us to learn more about local real estate, including how to price your property to sell or how far your dollar will go in today’s market.
Vail Resorts Launches EpicMix™ For Upcoming Ski Season Track and share activity on the ski slopes this winter ski season when Vail Resorts debuts EpicMix, a cutting-edge and innovative free gaming application for skiers and snowboarders available at the Vail Resorts family of ski resorts – Breckenridge, Keystone, Vail, Beaver Creek and Heavenly. EpicMix will launch at the resorts this December. What is EpicMix? EpicMix is simple with three basic components. The first is to capture your own skier data and you can create personal goals on the slopes. For example, it can track which lifts you’ve ridden for the day and how many times you’ve ridden them, how many skier days you’ve had for the season among other activities. The second component is you are rewarded along the way as you complete certain activities. Various accomplishments, such as riding the Imperial Lift at Breckenridge will reward you with a pin – the “Imperial Palace” pin to be specific to this Breckenridge activity. Lapping the Outback Express at Keystone twice in one day will get you “The Outback” pin. Do you ever try to ride first chair? Get rewarded for it with the “First Chair” pin. You get the picture. There are lots of different rewards for various tasks completed in the ski day, depending which resort you’re skiing and where you are on the mountain. The final component is sharing your accomplishments with your friends if you choose to do so. You can connect your EpicMix account with Facebook and show your activity to your friends in a similar way as Facebook Places or FourSquare does – appearing on your profile as a news update. This can step up the game and by adding a little competitive factor to the mix. You can also use the application
to track where your friends are skiing at the resort that day. Who can use EpicMix? Any skier or snowboarder resort guest at Breckenridge, Keystone, Vail, Beaver Creek or Heavenly who has a Season Pass or PEAKS ticket. These pass/ticket products are loaded onto a hard ticket with (((RF))) “Radio Frequency” stamped on the back of the pass. Do I need a GPS Device or a SmartPhone? No, the only thing you need is the (((RF))) hard ticket/pass. And, unlike Facebook Places or FourSquare, you don’t need to “check in” either. Guests will just need to get their passes scanned at each lift and then the system tracks everything through the radio frequency chips on the passes. To share your results and track your friends, however, you need to be logged in via the computer, iPhone or Android phone.
229 S. Main St. Breckenridge, Colorado | 970.453.2200 | 800.774.7970 | www.breckenridgeassociates.com
2010-2011 Winter Calendar of Events
November 5 5-7 11 12 26 27
6 10-13 16 18-21 19 24-27 26 26-27
Copper Mountain Opening Day Keystone Ski Resort Opening Day Lift Off Wake Up Breckenridge Breckenridge Ski Resort Opening Day Leftover Yam Jam En Fuego, Tree Lighting Gobbler Chase Snowshoe Race
December 2 4
Lighting of Dillon Lighting of Breckenridge River Run Rocks Holiday Bazaar
4-12 4-25 5-9 5-11 5-12 8-11 13-16 16-19 18 18-19 24 25 27-2
Wassail Days Victorian Winter Wonderland Festival of Trees Breck Snowflake Challenge Hartford Disabled Sports Ski Spectacular U.S. Halfpipe Grand Prix U.S. Snowboarding Revolution Tour Winter Dew Tour Santa Comes to Copper Betty Fest Christmas Eve Torchlight Parade & En Fuego Santa Comes to Copper Keystone KIDTOPIA
January 8 9-15 12 15 15-18 20-23 21 22-23 25-30 27-28 29-30
Swift Skedaddle Snowshoe Adventure Ullr Fest Breck Ascent Series – Race 1 En Fuego Rocky Mountain Freestyle (Park & Pipe) Rocky Mountain Masters Downhill, Super G & GS Murder Mystery Betty Fest International Snow Sculpting Championships Prime Time 50+ Ski Package Keystone KIDTOPIA
February 5 Beacon Bowl & Avalanche Awareness Day Summit Cup Spontaneous Combustion
Frisco’s Gold Rush Women’s Ski Fest Breck Ascent Series – Race 2 Breckenridge Mardi Gras Keystone KIDTOPIA Thai One On En Fuego Ladies Snowboard Fest Hope on the Slopes Betty Fest
4-6 Winter Culinary Festival 5 Romp to Stomp Out Breast Cancer 5-7 Colorado Special Olympics Winter Games 8 River Run Rocks Concert Freaking Freezing Mardi Gras 12 Rail Jam 12-20 Keystone KIDTOPIA 16 Breck Ascent Series – Race 3 19 En Fuego 26 Riders Cup
April 31-9 USASA Nationals 1-4 Bite of Breckenridge 2-3 Kids Only Beginner Snowboard Camp 3 Soup Cook-Off & Bingo 6 Breck Ascent Series – Race 4 9 River Run Rocks Concert Volcolm Peanut Butter & Rail Jam 10 Keystone Ski Resort Closing Day 13 Arapahoe Basin Enduro 16-17 Sunsation 20 Breck Ascent Series – Championship Race 5 23-24 Sunsation 24 Frisco Easter Egg Hunt Beach & Egg Hunt Breckenridge Ski Resort Closing Day Copper Mountain Ski Resort Closing Day 30 Marmont Grind
Breck Snowflake Challenge, Dec. 5-11 Join us for the locals’ snow sculpting contest on Main Street. Check out local artists in action and cast your vote for People’s Choice. Visit brecksnowflakechallenge.com for event details.
Color Key & Contact Information: almafoundation.com | Town of Alma arapahoebasin.com | Arapahoe Basin breckenridge.com | Breckenridge Resort coppercolorado.com | Copper Mountain keystoneresort.com | Keystone Resort mypoineerclub.com | Main Street Station silverthorne.org | Town of Silverthorne gobreck.com | Breckenridge Resort Chamber townofdillon.com | Town of Dillon townoffrisco.com | Town of Frisco *Events & Dates Subject to Change
229 229S.S.Main MainSt. St.Breckenridge, Breckenridge,Colorado Colorado||970.453.2200 970.453.2200||800.774.7970 800.774.7970||www.breckendridgeassociates.com www.breckenridgeassociates.com
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Short Sale Information
Foreclosures, bank-owned properties and short sales are a part of our market. Contact us to better understand the Short Sale process at 970.453.2200 or 800.774.7970.
Check Our References
Nearly 80 percent of our business is from past clients or referrals; we would be happy to provide business references. Contact us today to learn about our local real estate team at 970.453.2200 or 800.774.7970.
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We are thrilled with our new website launch. It is better than ever with a sleek and sophisticated new user interface, new property search feature, enhanced mapping capabilities and ever changing information. Go to www.breckenridgeassociates.com for the best and most detailed real estate search in the area. The sliding price scale and checklist format of the new property search better pinpoint the listings within your search criteria so you don’t waste time with properties that don’t meet your requirements. The new site offers GIS subdivision plat integration for each property. You can see the boundaries of each listing from an aerial view. Experience even greater detail from the “street level” option, allowing you to get a better feel for how the property sits on the lot, what the surrounding streets and neighborhood may look like as well as what other developments are in the area. Stay in the loop with the latest local real estate news, events and happenings with our website’s interactive blog. The blog features up-to-date posts from our brokers such as the local real estate “Real Estate Hot List”, the locals’ secret stash and much more. Check out the new and improved www.breckenridgeassociates.com today. We hope you like it.
Real Estate Hot List
Breckenridge Associates Real Estate P.O. Box 768 229 S. Main St. Breckenridge, CO 80424
Check Out Our New Website
Published on Dec 1, 2010
Fall 2010 Real Estate Newsletter and real estate news for Summit County and Park County, Colorado. Specific to Breckenridge, Frisco, Dillon,...