Inside Edge Summer 2010

SLIFER SMITH & FR A M P T O N R E A L E S TAT E

INSI DE EDGE

Summer 2010 IN THIS ISSUE >>

Real Estate Market Update

2

Market Watch

4

Colorado Mountain College

6

Connect Live with Our Experts

7

A Summit County Development Update

8

Calendar of Events

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

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Real Estate Market Update After a winter full of recreation and record breaking snowfall across the country and a fair number of powder days here in Summit County, we turn our attention to the spring and summer months. This change of the seasons accompanies blooming wild flowers, wildlife waking from their winter hideaways, the ritual swapping of ski and snowboard equipment for bikes, hiking shoes and fishing poles and the beginning of our real estate “selling season.�

Although the winter season proves to be a strong period for real estate activity in the mountains, Summit County typically sees more activity throughout the summer months. In fact, over the past four winter seasons (December through April) 2,033 transactions closed while the summer months (June through October) had 3,765 closed transactions.

The 2009/2010 winter had several encouraging points which we anticipate will transition into a solid summer season. The period of November 2009 through March 2010 posted 403 sold transactions, an increase of 157 properties (or 63%) compared to the same period the previous year.

This past December saw the closing of the most expensive single-family home ever sold in Summit County. The 6,500 square foot, 7-bedroom, 9-bath, ski-in/ski-out home sold for $8,285,000 and over $1,200 per square foot. This type of sale continues to raise the bar for Summit County real estate.

Furthermore, the winter months on average had 13% more properties under contract on the first of each month compared to the previous year (see chart on following page).

Winter also marked the opening of the brand new luxury development on Main Street in Breckenridge, Water House on Main Street. Developed by East West Partners, Water House opened its doors in November and closed 13 residences with an average price per square foot over $1,000. One Ski Hill Place, A Rock Resort, also had a successful winter with over half the residences under contract and closings that began in late spring. Developed by Vail Resorts and located at the base of peak 8 One Ski

2 | I NSIDE EDGE

Hill Place brings a new level of luxury to ski-in/skiout properties in Summit County.

¹www.reuters.com/article/idUSTRE6352KU20100406

2009-2010

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We hope you enjoy our summer newsletter and that the information provides you with expertise and insight on our local real estate market.

However, we encourage you to remember that no amount of graphs or statistics can truly characterize our extraordinary mountain lifestyle.

We look forward to seeing you out in Summit County this summer.

2008-2009

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That optimism is evident in not just our area but also across the country. According to a recent poll released by Fannie Mae, nearly 64% of Americans believe now is the time to buy a home. The individuals surveyed believe home prices will stay the same or increase in the coming months.¹

Summit County Properties Under Contract

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“It’s very promising to see the amount of activity we have had over the winter,” noted Jim Flaum, managing broker of Slifer Smith & Frampton Real Estate. “Buyers continue to receive financing and new luxury developments are closing. Historically low interest rates, a ‘Buyers Market’ and three new contracts on One Ski Hill Place in our first quarter are leading us towards positive growth this summer in Summit County.”

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

SUMMER 2010 | 3

Market Watch Properties for Sale in Summit County

Summit County Closed Sales Dollar Volume

12-month Review

12-month Review

$2700

$100,000,000 $90,000,000

$2500

$80,000,000 $70,000,000

$2300

$60,000,000 $2100

$50,000,000 $40,000,000

$1900

$30,000,000 $20,000,000

$1700

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

4 | I NSIDE EDGE

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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 Market DollarVolume Volume MarketShare Shareby byClosed Closed Sales Sales Dollar May2009 2009--April April 2010 2010 May $250,000,000 $250,000,000

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Most expensive single-family home to sell in Summit County in the past 12 months sold for $8,285,000 (12/30/2009)*

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Most expensive condominium to sell in Summit County in the past 12 months sold for $1,675,000 (10/01/2009)

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Currently there are 47 single-family homes under contract in Summit County

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Currently there are 150 condominiums under contract in Summit County

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In the past 12 months 110 single-family homes have sold over $1,000,000, with an average sales price of $1,625,489 and a total volume of $178,803,750

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13% of properties sold in the past 12 months have been priced over $1,000,000

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968 residential properties have sold in Summit County in the past 12 months

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Average Sales Price per Square Foot: • CO ~ $371 • DP ~ $300 • SF ~ $293 • TH ~ $306

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There are 187 single-family homes active in the $500,000 - $1,000,000 price range

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There are 97 single-family homes active in the $1,000,000 - $1,500,000 price range

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There are 9 single-family homes pending in the $1,000,000 - $1,500,000 price range

$200,000,000

$200,000,000

$150,000,000

$150,000,000

$100,000,000

$100,000,000 $50,000,000

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

*This was the most expensive single-family home ever to sell in Summit County Source: Summit Association of Realtors MLS

SUMMER 2010 | 5

Colorado Mountain College With over ten locations across the Colorado high country, including two campuses in Summit County, Colorado Mountain College continues to offer challenging and rewarding classes to residents and visitors alike. The brand new state-of-the-art Breckenridge location opened in the fall of 2009 on a 16 acre site just north of town and incorporates a variety of upgrades. The new building includes a 240 seat auditorium for lecture series and performance art shows, a learning kitchen for three culinary programs including the apprenticeship program that has served degree-seeking students for 15 years; new recreational cooking classes for the gourmet hobbyist and new professional development classes for restaurant chefs. Additionally, the new building includes a health, science and medical services wing where students complete lectures and lab requirements.

Colorado Mountain College has traditionally offered two-year programs and continuing education classes; however a recent push to offer four-year degree options is well on its way through the Colorado General Assembly. Colorado Senate bill 10-101 has been approved by the Senate and House of Representatives and currently awaiting approval from the governor. If the bill is signed into law, Colorado Mountain College could begin offering up to five bachelor degree programs as soon as summer 2011. If you are interested in finding out more about class opportunities please visit: www.coloradomtn.edu 6 | I NSIDE EDGE

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 and from Summit County, the Vail Valley, Aspen/Snowmass and Denver International Airport. CME Premier, a private car service provides luxurious privately chauffeured Cadillac sedans, executive vans and four wheel drive SUVs. For reservations, go to www.ridecme.com or call 1-800-535-6363 and use the discount code “6SSF� to receive your 15% discount.

Connect Live With Our Experts We are pleased to announce our new “Live Chat” program which provides live real estate support and information to our online visitors. With over 60,000 visits per month to www.SummitCountyRealEstate.com, this new service is an additional way to connect with the growing number of people on our website. Slifer Smith & Frampton is the first real estate company in Summit County to provide this service. Our knowledgeable and experienced brokers will be available during business hours to help answer questions and improve the overall website experience for the consumer.

Summit County Golf With over 300 inches of snowfall, endless sunshine and four epic ski resorts, Summit County winters have become the stuff of legend. However, an often overlooked facet of our high alpine environment are the incredible summers, in particular our awardwinning golf courses. Average temperatures in the 70s, close to zero humidity and almost 100 holes of golf make Summit County a golfer’s haven. In Breckenridge you’ll find the Breckenridge Golf Club which boasts a 27-hole Jack Nicklaus designed course.

A short drive you can choose between Keystone’s Ranch and River Courses, both 18hole courses designed by Robert Trent Jones Jr. The north end of the county provides another 36 holes, including 18-holes at the Copper Creek course located within Copper Mountain and 18-holes on the Raven Golf Club at Three Peaks just north of Silverthorne.

SUMMER 2010 | 7

A Summit County Development Update

Water House on Main Street How Breckenridge Does Luxury. Water House on Main Street is the spectacular arrival of luxury residences at the base of Peak 9. Upscale and contemporary in design and features, this ideal mountain retreat offers the resort amenities the discerning buyer expects. Start or end your day by the heated outdoor pool with seven hot tubs, or the fitness center and club lounge. Walk to Main Street restaurants and shops right outside your front door, or relax in the theater-style movie room. One to three bedroom beautifully finished residences are available to move-in now! Please contact your broker today for more information. www.waterhouseonmain.com/sar

8 | I NSIDE EDGE

One Ski Hill Place, A RockResort – Now Open These new RockResorts ski-in/ski-out furnished residences located on the beachfront at Peak 8 in Breckenridge are now open for touring. With owners moving in this summer, these condominiums bring a new level of deluxe accommodations to Breckenridge. Residences range from studios to four-bedrooms featuring modern mountain finishes and luxurious interiors. A wide arrange of amenities include an aquatics center, rejuvenation center, fitness center, bowling alley, media & game rooms, lively après ski bar, restaurant and owner’s ski lounge. Residences starting at $665,000. Daily open house at 1521 Ski Hill Road, Breckenridge. www.oneskihillplace.com/oshp

Angler Mountain Ranch Seventeen single-family homesites are available ranging from 0.42 to 1.03 acres with prices starting at $235,000. The model for the Cabin phase is now open. Cabins are 2700+/- to 2850+/- sq. ft., singlefamily residences with HOA services to provide owners with carefree living. Cabin residences have many custom options, spectacular views of the Gore Range and start in the low $800s. At the base of the development along the Blue River, threebedroom duplex choices range from 1600+/- to 2400+/- sq. ft. with prices from $479,000. The entire development encompasses 192 acres including 94 acres of open space with a private fishing lake and a hiking trail linked to the National Forest.

Rolling Ridge Townhomes

WaterTower Place

Sanctuary at Keystone

One of the last possible developments on Wildernest Mountain in Silverthorne. The location provides easy access to the complimentary local shuttle system and is centrally located to all ski resorts in the area. Each level offers vaulted ceilings, creative placement of windows to allow for sunny days, mountain views and star-lit nights. The one-car garage has plenty of extra room for all the mountain sports equipment. These three-and four-bedroom townhomes feature all bedroom suites, a half bath in the entry, multi-level floorplan, over 2,000 sq. ft., and exquisite finishes. Prices start at $585,000 with great buyer incentives being offered now.

We now have a furnished model, a penthouse suite with elegant, durable furnishings from Bassett that will work with our new guaranteed rental plan.

For a limited time, new buyers hold the option of receiving guaranteed rent for year one. They maintain the right to use their new mountain home for 240 days and still collect a check for $35,000 for a three-bedroom suite. Have it professionally rented and still use it 240 days or more yourself. www.watertowerfrisco.com/sar

New Pricing at Sanctuary at Keystone. There are three triplex units available, all 4-bedroom/4bath starting at $979,000. There are also larger plans available in paired and single-family homes.

Sanctuary at Keystone encompasses panoramic ski slope views, private shuttle to anywhere in Keystone, and wonderful finishes of granite slab, hand-hewn hardwood floors, Travertine tile, drystacked stone hearth. You’ll enjoy the natural habitat of beaver ponds and creeks bordering National Forest, the rustic timber & stone exteriors, private hot tubs, & high-end appliances. www.TheSanctuaryatKeystone.com

SUMMER 2010 | 9

Development Update Continued from pg. 9

Calendar of Events June:

4 Fantastic 4th of July - Frisco

10 – 13 Breckenridge Festival of Film – Breckenridge

4 Bike Parade - Keystone

12 Beach’n in the Mountains – Keystone 12 Run the Rockies – Frisco 17 BBQ Kick-Off Concert – Frisco 18 – 19 BBQ Challenge – Frisco 18 – 20 Lift-Off Summer – Copper 19 National Repertory Orchestra – Breckenridge

Valley Brook Neighborhood

19 – 20 Kingdom Days – Breckenridge

Valley Brook Neighborhood can turn your dream of owning a home in Summit County into a reality.

Conveniently located in Breckenridge and backing to the recreational path and the Blue River, these affordable homes combine livability with energy efficiency and sustainability. Neighborhood amenities include a park and shuttle stop. With 2 and 3-bedroom floorplans, 2-car garages, front porches, and patios, the homes being offered range from $267,000 to $302,000 and are planned for completion in 2011. Valley Brook Neighborhood homes will be deed restricted, and prospective purchasers must meet certain income and residency criteria to qualify.

19 – 20 Lets Go Boating Fundraiser - Dillon

10 | I NSIDE EDGE

25 National Repertory Orchestra – Breckenridge 25 – 27 River Run Merchant Tent Sale – Keystone 26 6th Annual World Music Festival – Keystone

4 4th of July Parade – Breckenridge 4 Firecracker 50 – Breckenridge 5 – 10 Bike Week - Breckenridge 7 National Repertory Orchestra – Breckenridge 9 Friday’s at Copper – Copper 9 The Luv Brothers Concert - Dillon 10 National Repertory Orchestra – Breckenridge 10 Bills Ranch Historic Tour - Breckenridge 14 National Repertory Orchestra – Breckenridge 16 Friday’s at Copper – Copper 16 Doo Wop Denny Concert – Dillon

26 – 27 Avon Walk for Breast Cancer - Frisco

16 – 17 Dillon Arts Festival - Dillon

July:

17 SSF Summit County Home Tour – Summit County

17 National Repertory Orchestra – Breckenridge

2 – 4 Three Ring Weekend – Copper

17 Breckenridge Beer Festival – Breckenridge

2 – 4 Green Art Festival – Frisco

18 Music in the Mountains – Keystone

2 USAF Academy Band Concert - Dillon

20 Breckenridge Music Festival – Breckenridge

3 Founders Day - Frisco

21 National Repertory Orchestra – Breckenridge

3 National Repertory Orchestra – Breckenridge

21 John Adams Concert - Dillon

3 River Run Kidzfest – Keystone

22 Breckenridge Music Festival – Breckenridge

4 Boat Parade - Dillon

23 Friday’s at Copper – Copper

Calendar of Events July continued:

4 National Repertory Orchestra – Breckenridge

21 – 22 Blues and Art Festival – Keystone

23 Randall McKinnon Band - Dillon

5 Breckenridge Music Festival – Breckenridge

27 Friday’s at Copper – Copper

6 National Repertory Orchestra – Breckenridge

29 Music in the Mountains – Keystone

24 Breckenridge Music Festival – Breckenridge 24 Classic Boat Show - Frisco 24 River Run Rocks! – Keystone 25 Music in the Mountains – Keystone 25 ‘Vettes on the Rockies - Frisco 25 National Repertory Orchestra – Breckenridge 27 Breckenridge Music Festival – Breckenridge 28 Breckenridge Music Festival – Breckenridge 29 Breckenridge Music Festival – Breckenridge 29 National Repertory Orchestra – Breckenridge 30 – 31 Courage Classic - Copper 30 National Repertory Orchestra – Breckenridge 30 Friday’s at Copper – Copper 31 Breckenridge Music Festival – Breckenridge

6 Friday’s at Copper – Copper 6 – 7 BBQ at the Summit - Dillon 7 Triangle Bicycle Tour – Copper 7 Breckenridge Music Festival – Breckenridge 7 Canine 4k – Frisco 7 – 8 Art on Main Street to the Rockies - Frisco 7 – 8 Mountain States Cup – Keystone 8 Music in the Mountains – Keystone 10 – 11 Breckenridge Music Festival – Breckenridge 12 – 15 Guitar Town & Songwriting – Copper 13 Breckenridge Music Festival – Breckenridge 13 Friday’s at Copper – Copper

September: 3 Adrenaline Movie Series – Keystone 3 Randall McKinnon Concert - Dillon 3 Friday’s at Copper – Copper 4 – 6 River Run Merchant Tent Sale – Keystone 4 Waterhouse Wine Festival – Breckenridge 10 Adrenaline Movie Series – Keystone 11 Festa Italiana – Keystone 17 – 19 Oktoberfest – Breckenridge 17 Adrenaline Movie Series – Keystone 24 Adrenaline Movie Series – Keystone

13 Dillon Bluegrass Festival - Dillon

31 Bluegrass and Beer Festival - Keystone

14 Breckenridge Music Festival – Breckenridge

August:

15 Music in the Mountains – Keystone

14 Music on Main - Frisco

1 – 2 Courage Classic – Copper

17 Breckenridge Music Festival – Breckenridge

1 Dillon Open Regatta - Dillon

19 Breckenridge Music Festival – Breckenridge

1 Bluegrass and Beer Festival - Keystone

20 Friday’s at Copper – Copper

3 Breckenridge Music Festival – Breckenridge

20 Breckenridge Music Festival – Breckenridge S U M M E R 2 0 1 0 | 11