Inside Edge Winter 2011 - 2012

Slife r Smith & Fr a mpto n R e a l Es tate

INSIDE EDGE

Winter 2011-2012 In this issue >>

Real Estate Market Update

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Keystone Night Skiing

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Breckenridge Celebrates 50 Years

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Ski Area Improvements

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A Summit County Development Update

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Calendar of Events

The Most Trusted Name in Colorado Mountain Real Estate since 1962.

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Real Estate Market Update “I moved here for the winter, but stayed for the summer.” Every local seems to make this statement at some point during their tenure in Summit County. The combination of long sunny days and countless activities make the mountains the perfect escape from the high temperatures around the country.

Like years past, this year visitors and locals enjoyed many summertime favorites like the Frisco and Dillon BBQ Festivals, the 4th of July parade down Main Street in Breckenridge, and the many events held in Keystone’s River Run Village (including the return of the Wine and Jazz Festival!). However, the highlight of the summer took place in late August when the USA Pro Cycle Tour rode through Summit County. The week long race, in its inaugural year, was comprised of 128 riders from 16 international teams and has been touted as the “Tour de France of Colorado.” On the fifth stage of the race competitors rode 105 miles from Steamboat Springs over Rabbit Ears and Swan Mountain Passes then sprinted to a finish on Main Street in Breckenridge!

“It’s incredible,” says American Tejay Van Garderen, who took third overall. “The crowds, the atmosphere, the competition level, it was just unbelievable. It surpassed everyone’s expectations. It’s definitely the most fun race I’ve done. It’s a race I look forward to coming back to every year.” Next summer the race is scheduled from August 20 – 26; make sure to start planning your trip now!

Summer also proved to be an exciting season for the Summit County Real Estate market. Between June and September 397 properties were sold locally, a 21% increase when compared to 2009 (see chart to the right). Luxury properties continue to drive sales in the area and consist of almost a quarter of all transactions. In fact, this summer 35 Single-Family homes, with a list price over $1,000,000, and over 60 Multi-Family residences listed over $500,000 were sold.

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“We have seen consistent increases in sales pace during the past two summers, which continues to stabilize and strengthen our market.” Noted Melanie Frank, Managing Broker and Vice President of Slifer Smith and Frampton in Summit County. “Coupled with a decrease in inventory, interest rates hovering at historic lows around 4% and two October sales of the ski-in/ ski-out luxury development One Ski Hill Place (a four-bedroom, four-bath penthouse for $2,670,000 and a twobedroom, two-bath 1,180 square foot residence for $1,252,000) – I think our market is headed in the right direction.”

Melanie continued, “Winter bookings are up all across the state of Colorado, and the ski resorts and local communities have scheduled several world class events to energize and entertain guests this season. Make sure you take a second to review the Calendar of Events on pages 10 and 11 – so you don’t miss out on anything while you’re in town!”

We hope you enjoy our Slifer Smith & Frampton winter newsletter and that the information provides you insight on our local real estate market. Grab your skis or board, pray for snow and we hope to see you in Summit County soon!

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Market Watch

Data gathered from the Summit Association of Realtors MLS. Information deemed reliable but not guaranteed.

Data gathered from the Summit Association of Realtors MLS. Information deemed reliable but not guaranteed.

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Includes Residential and Land. Data gathered from the Summit Association of Realtors MLS. Information deemed reliable but not guaranteed.

Market Trends & Quick Facts • Most expensive single-family home to sell in Summit County in the past 12 months sold for $3,700,000 (12/30/2010) • Most expensive condominium to sell in Summit County in the past 12 months sold for $2,685,000 (2/11/2011) • Currently there are 50 single-family homes under contract in Summit County • Currently there are 97 condominiums under contract in Summit County • In the past 12 months 85 single-family homes have sold over $1,000,000, with an average sales price of $1,579,710 and a total volume of $134,275,350 • 9% of properties sold in the past 12 months have been priced over $1,000,000 • 1,094 residential properties have sold in Summit County in the past 12 months • Average Sales Price per Square Foot: •

Condominium ~ $332

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Duplex ~ $243

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Single-Family ~ $265

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Townhome ~ $291

• There are 188 single-family homes active in the $500,000 - $1,000,000 price range • There are 17 single-family homes pending in the $500,000 - $1,000,000 price range • There are 87 single-family homes active in the $1,000,000 - $1,500,000 price range • There are 9 single-family homes pending in the $1,000,000 - $1,500,000 price range

Source: Summit Association of Realtors MLS

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Keystone Night Skiing

Are seven hours of skiing just not enough? Do you crave ripping down freshly groomed runs while watching the sun set? Then Night Skiing at Keystone is a must this winter! Keystone Mountain offers one of Colorado’s longest ski days from 8:30am – 8:00pm. Top-to-bottom skiing on the front side of the mountain includes eight runs of varying skill level and a handful of features in the terrain park. For more information on night skiing please visit www.Keystone.Snow.com

Mortgage Rates Hover Around 4% The average rate for a 30-year fixed rate mortgage dropped to 3.94 percent in the first week of October, and has hovered around four percent since then.

These historically low interest rates translate to lower monthly payments and more buying power. For example, just three years ago when interest rates were around six percent, monthly payments on a 30 year fixed mortgage for a $500,000 home were almost $3,000. Today you can get the same home loan and save over $600 per month.

Our transportation partner, Colorado Mountain Express, is pleased to offer you a 15% discount on your next shuttle or private chauffeured airport transfer.

CME offers shared ride shuttles, charter vans and private car service to/ from Summit County, the Vail Valley, Denver International and Eagle County airports.

CME Premier, our private car service, provides for luxury, privately chauffeured executive vans and four wheel drive SUVs. When placing reservations please use the discount code “9SSF” to receive your 15% discount. For reservations go to www.ridecme.com or call 1-800-525-6363. Not valid with any other discounts or offers. Not valid on Point-to-Point services. Not Valid to/from Aspen, Snowmass, Roaring Fork Valley.

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2011/2012 Ski Area Improvements Arapahoe Basin • 225 New Spaces in the Last Chance Parking Lot • Expanded and Upgraded Kids’ Ski Area Breckenridge Ski Resort • 50th Anniversary Celebrations • EpicMix 2.0 • New Outdoor Deck at the Maggie, and Vista House Interior Remodel

Breckenridge Celebrates 50 Years

Copper Mountain • New Union Creek High Speed Quad is Realigned with Newly cut Trails • New U.S. Ski Team Speed Center, with Automatic Top- to-Bottom Snowmaking System • Wind Turbines Installed Near Patrol Headquarters, at the top of the Excelerator Lift

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Approximately 17,500 inches of snow (1,416 feet) since1961.

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Over 39 million skiers and snowboarders from all 50 US states and over 60 different countries. (the 1961/62 season included 17,000 total visitors, compared to 1.63 million in 2010/11)

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The first ski resort in North America to install a high speed quad chairlift, in 1981.

Keystone Resort • EpicMix 2.0 • New Dercum Square Ice Rink at River Run Village

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The first ski resort to allow snowboarding in Colorado, in 1984.

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Breckenridge installed the Quicksilver Super 6, the first and only double loading chairlift in the USA, in 1996.

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Home to the highest high-speed quad chairlift in the world, the Imperial Express Superchair, topping out at an elevation of 12,840 feet.

Loveland Ski Area • New Chair 4, a Fixed-Grip Triple Chair that Replaces a Lift from 1967 *Source Summit Daily News

On December 16th Breckenridge Mountain celebrates its 50th anniversary! Here are a few of the highlights from the past 50 years:

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La Nina is back‌..

The 2010-2011 La Nina winter dropped 500 inches of snow in Summit County, that’s 41 feet of the white stuff! This fall La Nina continued to chill the Pacific Ocean, with many experts prediction another record breaking snow season!

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A Summit County Development Update

Angler Mountain Homesites

Angler Mountain Ranch Residences

Valley Brook Neighborhood

One Ski Hill Place

WaterTower Place

Frisco Legends

Location: Silverthorne Availability: 13 Homesites Pricing: from $188,000

Location: Breckenridge Availability: 46 Pricing: from $665,000

Location: Silverthorne Availability: 7 Cabins, 11 Paired Homes Pricing: Cabins from $749,000, Paired Homes from $489,000

Location: Frisco Availability: 1 Pricing: from $699,000

Location: Breckenridge Availability: 4 Pricing: from $267,000

Location: Frisco Availability: 5 Pricing: from $699,000 W INTER 2 0 1 1 - 2 0 1 2 | 9

Calendar of Events December: 1 Lighting of Dillon – Dillon 1 - 31 Festival of Lights – Dillon 3 Lighting of Breckenridge – Breckenridge 3 K2 Pink Chase – Keystone 3 Holiday Bazaar – Silverthorne 3 - 11 Wassail Days – Frisco 5 - 10 US Grand Prix – Copper Mountain 6 - 10 Festival of Trees – Keystone 9 - 10 The Nutcracker – Keystone 10 Country Dance Night – Silverthorne 10 Dercum Center Art Market – Keystone 10 - 11 Snowboard Demo Day – Keystone 15 - 18 Dew Tour – Breckenridge 16 East Coast Swing Night – Silverthorne 17 A Christmas Carol – Keystone 18 - 19 Betty Fest – Keystone 18 - 22 Snowboard Revolution Tour – Copper 23 Pancake Breakfast with Santa – Keystone 31 New Years Fireworks – Keystone 31 New Years Fireworks – Breckenridge

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Winter 2011-2012 January: 1 - 15 Festival of Lights – Dillon 8 - 14 Ullr Fest – Breckenridge 13 Country Dance Night – Silverthorne 14 Chilly Chili Cook Off – Breckenridge 14 - 15 Betty Fest – Keystone 14 En Fuego – Copper Mountain 14 Everest and Beyond – Keystone 24 - 31 International Snow Sculpture Championships – Breckenridge 27 East Coast Swing Night – Silverthorne

February: 1 - 4 International Snow Sculpture Championships – Breckenridge 2 - 4 Bluegrass on Snow – Keystone 5 Frisco Gold Rush – Frisco 11 Country Dance Night – Silverthorne 11 - 12 Betty Fest – Keystone 17 East Coast Swing Night – Silverthorne 18 En Fuego – Copper Mountain 18 Bacchus Ball – Breckenridge

21 Mardi Gras Parade – Breckenridge 21 River Run Concert – Keystone

March: 3 Tubbs Romp to Stomp – Frisco 3 March Concert Series – Keystone 3 - 4 Winter Culinary Festival – Keystone 3 - 5 Colorado Special Olympics – Copper Mountain 9 Country Dance Night – Silverthorne 10 March Concert Series – Keystone 16 East Coast Swing Night – Silverthorne 17 O’Fuego – Copper Mountain 17 March Concert Series – Keystone 24 March Concert Series – Keystone 30 - 31 USASA Snowboarding Nationals – Copper Mountain 31 March Concert Series – Keystone 31 Peanut Butter Rail Jam – Keystone

April: 1 - 6 USASA Snowboarding Nationals – Copper Mountain 7 - 11 USASA Freeskiing Nationals – Copper Mountain 7 River Run Rocks Concert – Keystone 8 Easter Egg Hunt – Copper Mountain 8 Slush Cup – Keystone 8 Keystone Closing Day – Keystone 13 Country Dance Night – Silverthorne 14 - 15 Sunsation – Copper Mountain 15 Copper Closing Day – Copper Mountain 15 Breckenridge Closing Day – Breckenridge 20 East Coast Swing Night – Silverthorne

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