Vail annouces Crystal Peak Lodge

The first phase in the development of The Peaks at Breckenridge has been announced. Learn about Crystal Peak Lodge.

These units are expected to sell quickly, so if interested, give Susan Gunnin a call or email her.

John Fielder moves to the Mountains

Renowned nature photographer, John Fielder, known for his epic nature shots, is moving to Breckenridge according to an article in the Summit Daily News by Leslie Brefeld.

Fielder will open his second gallery in a location called "The Photoshop" on Main Street in Breckenridge. The opening is scheduled for November 25th.

Fielder describes his photograhpy's uniqueness through the method he uses to shoot, all 65 pounds of a large-format camera. He carts the old-fashioned and heavy equipment to remote areas of Colorado's wildeness with the help of 4-5 sherpas who help carry supplies and help him keep comfortable in the sometimes hostile environment.

Speaking of the Eagles Nest Wilderness north of Silverthorne, Fielder says "Some of the things I've found in there are the most sublime, scenic things I've seen in my life anywhere on earth, much less Colorado".

He will present a slilde presentation of 80 of his works at the Silverthorne Pavillion, Tuesday, November 21, from 6 to 9 pm.

The picture shown above is from a remote drainage on the east side of the Gore Range in the Eagles Nest Wilderness.

Vail Resorts announces The Peaks of Breckenridge

On November 16, 2006, Vail Resorts, owner and operator of Breckenridge Ski Area, announced the much awaited development of THE PEAKS OF BRECKENRIDGE, at the base of Peaks 7 and 8.

This will be a premiere development in a premiere location. For more information, go to The Peaks of Breckenridge.

For information about the real estate potential, pricing, and the Breckenridge market in general, go to Susan Gunnin's web site, or email her.

Summit County real estate takes dramatic turn in September

In a Summit Daily News article, November 4, 2006, contributor Francis Wick, reports on data supplied by Land Title Guarantee Company.

After a slump in August, the real estate market in Summit County proved bullish once again in the month of September. The Summit County market soared 36% in monetary volume, with the number of transactions remaining about the same as for the same period, 2005. This means that property values are continuing to escalate.

Breckenridge led all areas of Summit County with just over 21% of all transactions, and 37% of the total monetary volume.

The increase is attributed to baby boomers purchasing their dream vacation homes, locals trying to get into the market before the county reaches full build-out (when all the property which can be developed has been developed), affordability of properties when compared to places like Vail and Aspen, and increased rental revenues after a strong snow year - as in the record-breaking winter of 2005-6.

For more information about this incredible market, go to Susan Gunnin's web site or email her.

Early snow may bode well for the 2006 ski season

Bob Berwin reports in the November 4th Summit Daily News that just more than three feet of snow fell in Breckenridge in October, making it the third wettest October in the 110 years on record.

October is generally one of the driest months, but a strengthening El Nino in the central Pacific has already been pumping moisture into the West. Climate researchers and forecasters said this could bring copious fall and early winter snows, with another wet spell in the spring.

Rick Bly, National Weather Service observer said that of the wettest Octobers on record, three were followed by way above average [snowfall] winters, and four were followed by winters with precip slightly above average.

As a result of the snow, riverflows have helped snowmakers at local ski areas at just the right time. Snow moisture content is some 300 percent above normal for this time of year.

All this bodes well for ski area real estate, which to a large extent is a function of the quality and quality of skiing in the winter.

Early Snow Slams Summit

WE HAVE SNOW!

In the last couple of days, mother nature has bestowed over two feet of snow in most of Summit County. As a result, Keystone Ski Area is going to open a week early (November 3), and Keystone spokeswoman Amy Kemp says "Looking back, it appears to be a record" adding that "ideal snowmaking conditions have also helped prep the mountain for the big day" according to an article in the October 27th Summit Daily News.

At Breckenridge, avalanche control work was conducted at the ski area where two feet of snow fell overnight.

In another article, it was reported that for the first time in five years, the Summit County Schools were closed due to the thick blanket of snow covering the county. School superintendent Millie Hamner was quoted as saying "Today, Mother Nature threw us a curve ball".

This all bodes well for the real estate market" says Susan Gunnin, author of this blog. "To a great extent, ski area real estate values, are a function of the quality and quantity of skiing in the same way that beachfront properties are a function of great water-related recreation. The better the skiing, the more valuable ski area property becomes".

To learn more about this phenomenon, check out Susan's web site or email her.

Vail Resorts reports record year

In a Summit Daily News article by Nicole Formosa on October 6, 2006, it was reported that Vail's CEO, Rob Katz, attributed the record year (Vail's fiscal year ends July 31) to early season snowfall and on-mountain improvements.

Vail Resorts owns Keystone and Breckenridge in Summit County, as well as Vail and Beaver Creek in Eagle County, Colorado and Heavenly Ski Resort in California.

FYE net income was $45.8 million, an increase of 97.8% over 2005. Mountain revenue increased 14.7% while lodging revenue fell 20.6%, mostly due to the sale of three hotels. The notable increase in mountain revenue can be attributed to a 5.9% increase in skier visits, and a 6.4% increase in lift ticket prices.

Breckenridge, the 2nd most visited ski resort in the U.S, saw a 10.1% increase in skier visites, the largest among Vail's 5 ski resorts.

Katz touted Vail's upcoming Peaks of Breckenridge real estate development, which plans 450 high-end residential units and 75,000 square feet of skier services at the base of Peaks 7 and 8. He expects the development, which is still in planning stages, to be one of the best properties in the resort because of its ski-in/out access to the mountain and its quick connection to downtown Breckenridge via the new gondola. Sales of the first phase of the Peaks of Breckenridge are scheduled to begin this coming ski season, and they will be priced "at the top end" of where properties sell in Breckenridge.

As blogged earlier, the new gondola "BreckConnect" is scheduled for a Christmas, 2006 opening.

To learn more about Breckenridge real estate possibilities, email Susan Gunnin, or check out her web site.

Live longer in Breckenridge!!

Want to live longer? Move to Breckenridge, Colorado.

In a Summit Daily News article by Allen Best, on October 2, 2006, the question "Is it somehow healthier to live in Summit County? was answered "YES" by a new study by Harvard University.

Summit County, along with six other counties located along the Continental Divide in Colorado lead the nation in longest average life expectancy -- 81.3 years.

After some discussion, it was uncertain exactly why living at high altitude increased one's life expectancy. The study analyzed national data from 1980 to 1999. Perhaps mountain people are more active, eat better and generally don't smoke. Perhas it's because people who live at higher elevations have stronger lungs and hearts.

Susan Gunnin, author of this blog, thinks it probably has to do with living sourrounded by such sheer beauty. "It's got to help, anyway" she said.

To learn more about life in Breckenridge, go to Susan's web site.

New Breck gondola gets name

Today, the Summit Daily News reported that BreckConnect will be the name of the new gondola which runs from downtown Breckenridge to the base of Peak 8 and ultimately, to Peak 7. The new logo design depicts arrowheads pointing outward from each end of the name. The arrows represent the gondola's connection of the town with the ski area, and signify the direct route and speed of travel.

The BreckConnect Gondola will be one of the most modern gondolas in North America.

Right now, the ski resort plans to operate the gondola in both the winter and summer. It will have a ride time of approximately seven and a half minutes from bottom to top, and will be able to carry 3,000 people per hour.

Breckenridge gondola is on schedule

Kimberly Nicoletti, in a special to the Summit Daily News on September 13th, reports that by December, Breckenridge Ski resort's new gondola will lift skiers and riders from parking lots to Peak 7 and 8 base areas.

The $17 million gondola, which ski resort executives have wanted for more than 20 years, is now half complete. Leitner POMA, an international company, has erected 22 of the 28 towers.

The first shipment of cabins will arrive near the end of September; CWA Constructors manufactured the gondola cabins and sent them via a cargo ship from Switzerland. The haul rope was assembled in France and will be shipped this week. It weighs approximately 200,000 pounds, which is equal to the weight of aproximately 66 cars.

All concrete work is completed; the project required 375 concrete trucks, which delivered 3,000 cubic yareds of concrete.

The gondola will transfer 2,800 guests per hour; the ride from the transit center to Peak 8 takes 10 minutes. The return (base) station is located next to the town's transit center at the corner of North Park and Watson Avenue. There are two mid-stations, one at Shock Hill and another at the Peak 7 base area. The eight-passenger cabins will accommodate gear inside, rather than use external racks for skis and boards.

"Breckenridge's new gondola sets a new standard in the roll of mass transit in growth and development" said Kate Osborn, Breckenridge Ski Area spokesman. She said it represents environmentally conscious teamwork between the town and the resort to transport visitors between the two areas. Osborn said it will significantly decrease traffic volumes and increase the number of visitors to downtown.

The gondola will save more than 20,375 gallons of fuel each season becuase the bus service will decrease. The resort also took care to help protect the environment by dedicating 64.7 acres of development land to the town for conservation and open space.

The town contributed $6.7 million to build the gondola, and developers of the Shock Hill neighborhood, where the gondola will also stop, paid $500,000. As part of the partnership with the town, the ski area agreed to provide 1,500 parking spaces in town, near the gondola.

"Bringing together the two pieces that continually put Breckenridge in the top three most popular winter destinations, the gondola enables the town and resort to strike the ideal balance that maintains the character and vibrancy of Breckenridge's Main Street and downtown" Osborn said.

Completion of the gondola is one of the last major steps in achieving a comprehensive development and transportation plan, which the town and Vail Resorts (owner of Breckenridge Ski Area) formalized in May, 2002. The plan also included the Skyway Skiway ski-back project and the Mountain Thunder Lodge.

Breck plans to open new terrain off Peak 8 summit

The Snow White chutes are located between Peaks 8 and 9 near the Lake Chutes

In a September 12th article in the Summit Daily News written by Nicole Formosa, it is reported that a stash of seven steep chutes that has always been off limits at Breckenridge Ski Area will likely be open for the taking this ski season.

The resort plans to open 150 acres of terrain dubbed Snow White, which is located in the saddle between Peaks 8 and 9 and would be accessible from the Imperial Express SuperChair, said resort spoksman Nicky DeFond.

The above-timberline terrain skies similarly to the nearby Lake Chutes, she said.

"It's steeper than Imperial Bowl, it's not going to be groomed, so it's definitely for the stronger skier," Defond said.

The Snow White chutes feed skiers onto the advanced Double Barrel or Way Out trails on the backside of Peak 8.

Even though Snow White has always been in the resort's operating boundary, it hasn't been open to skiers and riders because it was at least a 45 minute hike from the top of the T-Bar before the Imperial Express opened last season.

Because of that, ski patrol was more limited in how much terrain it could open at the top of Peak 8 due to the high avalanche danger, which requires control work before it can be opened to the public.

The new terrain isn't a done deal yet; officials from Breck will meet with the Forest Service this fall to put Snow White in the resort's new master plan. After that, it should be official. At that time, the total cache of terrain accessed off Imperial Express will grow from 400 to 550 acres.

Real Estate Volume Climbs to New Highs through Mid-Year

Home-buying market is white hot in spite of the Federal Reserve

YTD volume up 23% over last year

An article in the Summit Daily News by Duffy Hays on August 1, 2006 is presents data supplied by Land Title Guarantee Company and is summarized below.

The real estate market may be cooling off nationwide, but over the summer months so far here in the High Country, the home-buying market is white hot.

For the second month in a row, transaction volume -- the total dollar amount recorded for real estate sales -- showed a dramatic increase over the same period last year. In June, total transaction volume was nearly $162 million, more than a 45% increase over June, 2005. And the number of transactions was 11% more than last year. This follows a record-setting May.

Even though the Federal Reserve has kept increasing interest rates, cooling off previously hot markets like New York, Florida and California, Summit County is still reporting recored numbers.

Summit County real estate monetary volume:

June, 2006 $162,725,600 June, 2005 $112,232,799 Change +44.99%
YTD, 2006 $661,229,706 YTD, 2005 $554,623,699 Change +22.83%

To learn more about the Summit County market, check out Susan's web site, or email her.

June, 2006 Home Sales Summary

Land Title Guarantee Company reported robust residential (single family and multi-family) home sales for the month of June, 2006.

There were a total of 257 residential property sale transactions totaling $114,539,500 with an average sales price of $445,679.

By category:

80 single family homes sold for a total of $56,248,000 or an average of $703,100.
177 multi-family units sold for a total of $58,291,500 or an averageof $329,331.

In addition, 52 vacant land parcels sold for a total of $16,289,300 or an average of $313,256.

For more information on the Summit County real estate market, see Susan Gunnin's web site or email her.

RE/MAX and Susan Gunnin lead the real estate pack

From data provided by the Summit Association of Realtors for the first half of 2006, it was reported that RE/MAX Properties of the Summit led Summit County's real estate firms in real estate contract sides sold with a volume in excess of $48 million or 17.66%, and in total sales volume (listings and sales) with volume in excess of $78 million, or 16.73%. For all of Summit County, the total volume of sales for all real estae firms was in excess of $552 million.

Among the four RE/MAX offices in Summit County, Susan Gunnin was the top realtor in Sales Volume YTD, and 2nd in the number of transactions closed. For the month of June, she led the Breckenridge office in number of new listings.

To learn about the Breckenridge and Summit County real estate markets, go to Susan's web site or email her.

Debut of the Summit County Business Barometer

Local Businesses Bullish on Summit County Economy

In an article in the Summit Daily News, prepared by Constance Jones, executive director of the Summit County Chamber of Commerce, she reported that a new, quarterly survey will be provided which will give local business owners and professionals data to compare our local economic trends to both state and national trends. This first report represents activity for the first quarter of 2006. The next report, coming out later in July, will cover the 2nd quarter of 2006.

Business Activity Comparisons 2005 - 2006: Summit County respondants were asked to rate their current level of business activity on a scale of 1 to 5, with 5 being the highest or strongest. Since 2.5 would represent the middle of the scale, readings above 2.5 would indicate favorable conditions. Summit County business owners and professionals rated their current level of activity at 3.31. On the same basis, they were asked to rate their activity versus the same period one year ago, and here the reading was 3.47. Looking forward over the next 12 months, they responded with an exuberant 4.21. Reading. So at least from the business perspective, locals are very bullish on the Summit County economy.

Local Price Trends: The Business Barometer survey also gathered information on local price trends. Almost 72 percent of the businesses responded that the prices paid for services and goods rose an average of 7 percent. About 27 percent said prices stayed the same. When asked about the prices they charge their customers, 58 percent said they kept the prices the same, and 34 percent said they raised their prices with the average being just below 6 percent. About 8 percent said the prices they charge their customers actually went down about 8 percent.

Top Concerns: When rating their top concerns for the area, the number one response was the high cost of living. The second most important was concern over the environment/lifestyle. Finding quality employees was the third most important, while transportation and traffic congestion tied for fourth.

Another record breaking month for Summit County Real Estate

This is the heading of a monthly report provided by Land Title and Guarantee Company, a Summit County title company.

The report points out that "May, 2006, shows a 31% increase from May, 2005, in monetary real estate transactions volume!"

The statistics show that Breckenridge had transaction dollar volume of $45,163,100. There were 80 transactions or a 25.81% increase over May, 2005. And the average transaction price was $564,539.

For more about the Breckenridge real estate market, go to Susan Gunnin's web site, or email her.

Ski season saw peak numbers

"Strong year for Colorado skiing" was the byline of an article in the Denver Post by Julie Dunn on June 16, 2006.

In the article reporting on a meeting of ski industry leaders that recently took place in Steamboat Springs, it was stated that a recored 12.53 million skiers hit Colorado's 26 ski slopes this past winter. The previous record had been 11.98 million. Bill Jensen, co-president of the mountain division of Vail resorts said "I think Colorado will see 13 million skier visists in the next 3-4 years. The fact that we surpassed 12 million by more thant 500,000 skiers allowed us to realize that we have the potential to go even higher."

Industry leaders expressed optimism for growth in the near future, citing significant investments in mountain infrastructure, dozens of hotel and condominium projects in the works, and the possibility of more direct international flights into Denver International Airport. Last year, foreign visits were up 8 percent. Many resorts are now targeting Asian markets, namely China, Korea and Japan.

"This growth and strong optimisim for the resorts is great news for real estate investors" says Susan Gunnin, author of this blog. "In addition" she continues, "the buildout that was predicited a couple of years ago has begun happening, (buildout is when all the property that can be developed has been developed) especially in towns like Frisco."

To learn more about real estate investment opportunities in Summit County, go to Susan's web site, or email her.

Arts District in Breckenridge

This information is provided by the town of Breckenridge in their Summer, 2006 publication of the Breckenridge Bulletin.

The town of Breckenridge is developing a pedestrian friendly arts campus on the northwest corner of Washington Avenue and South Ridge Street, which will develop into a home for resident artists and offer a variety of workshops and cultural events. The Arts District, now in its third year, continues to grow with the relocation of the Quandry Antiques building and the first resident artist studio/apartment at the Tin Shop, set to open this spring/summer, along with the restoration of the historic Fuqua Livery Stable.

Workshops for children, teens and adults, in a variety of mediums, including sculpture, painting, print making, beading, textiles and ceramics are offered at the Robert Whyte House. For a calendar, visit townofbreckenridge.com.

Don't miss the third annual Arts District Celebration on Sunday, July 2, 2006, with a sidewalk art contest, dancing by local dance companies and artist demonstrations.

For information about Breckenridge real estate opportunities, check out Susan Gunnin's web site.

Second homes now are 12 percent of all national sales

From the Summit Daily News, May 28, 2006.

Washington, D.C. -- Are you under the impression that only ski towns and resort valleys have second-home owners? Think again.

The National Association of Realtors reports that vacation properties account for 12 percent of all homes sold last year, and 28 percent of homes were bought for investment purposes.

Typical vacation buyers last year were 52 years old, earned $82,000, and purchased a property that was a median of 197 miles from their primary residence. This profile differed from that of investment homebuyers in just one key respect: investment homes were likely to be close to the original home.

USA Today explains this rally in vacation and investment homes began in 1997, when Congress changed the tax code, allowing most homeowners to duck capital gains when selling their homes. The exemption is $500,000 for married couples, $250,000 for singles, if it was their primary residence for two of the previous five years.

Before, the only way to avoid the tax was to use the gained equity to buy another one of equal or greater value. But now, they can downsize and use the money instead to buy a second home.

Something else is going on. Many baby boomers are entering their peak earning years. The most active buyers of vacation and investment homes are people in their 50's. Currently there are 36 million people in that age bracket. However, with 45 million people in their 40's, the market is expected to remain strong for a long time.

Yet, David Lereah, chief economist for the NAR, believes the vacation- and investment-home buying binge will drop to 30 percent or less of all home sales as compared with the current 40 percent. He cites interest rates, higher lending standards and slower price appreciation.

Susan Gunnin, author of this blog, believes there is still plenty of time to reap the rewards of this phenomenon. In ski resorts such as Breckenridge, Colorado, second homes don't necessarily have to be differentiated from investment homes. In most cases, with prices appreciating and the possibility of short-term rentals, a second-home can be a good investment so the owner can have the best of both worlds.

For more information, see Susan's web site or email her.

A second-home economy

The deep and lasting effects of vacation homes on resort-town finances

An article in the Summit Daily News on May 28, 2006 by Alex Miller discusses the impact of resort-town second-home ownership.

Second-home owners are a huge driving force behind economies of ski resorts and the geographic regions where they're found. Their influence can be seen in local balance sheets. Second-home owners pay property taxes, but don't have kids in schools. They can't vote, but often wish they could. They're anywhere from well-off to fabuously wealthy, and the homes they buy range from humble condos to 15,000 square foot mansions.

According to the Northwest Colorado Council of Governments - a multi-government research and advocacy group - second homes account for 34 percent of all outside dollars coming into the ski areas' local coffers. By comparison, winter visitors account for 28 percent of those outside dollars.

The surge in second-home ownership is directly attributable to the baby boomers reaching their 50's and 60's. And the buying activity has fueled record-breaking real estate sales along the way.

As the social and economic impact of second-home owners have grown over the years, different resort communities have wrestled with the pros and cons of their presence. Perhaps more than anything, the elevation of real estate prices has caused towns to create affordable housing for locals, or at least talk a lot about it.

On the other hand, there's no doubt that second-homes and their owners create jobs. Businesses which cater to the care of these homes and their owners sprout up almost like weeds. Second-home owners expect to pay others to do everything from shovel snow to pull weeds. But the demand for services creates the need for places for the suppliers of services to live, and roads for them to travel on. For example, it is expected that Eagle County will have to import some 30,000 workers daily by 2025. Where to put these workers is the number one concern for governments.

If you want to participate in the real estate boom created by second-home ownership, contact Susan Gunnin by email, or check out her web site.

Statewide ski numbers up from last season

Industry growth being spurred by the popularity of skiing and snowboarding with younger crowd.

The Denver Post reports that the number of skiers and snowboarders in the United States reached a record 58.8 million last season, up 3.3 percent from a year ago, according to preliminary data from the National Ski Areas Association.

Industry growth is being spurred by the popularity of sking and snowboarding with a younger crowd and equipment improvements that allow aging baby boomers to stay on the snow longer. "It's a multigenerational phenomenon", NSAA president Michael Berry said, "Baby boomers, their children and their grandchildren are all out there skiing. The resorts have become multigenerational gathering places".

The six-state Rocky Mountain Region, which includes Colorado, saw a 5.8 percent gain in skier-visits, or some 1.1 million people more than the prior year. The state's 25 ski resorts may top 12 million skiers for the first time.

Says Susan Gunnin, author of this blog and realtor with the Breckenridge RE/MAX office "This comes as no real surprise after the near record snowfall we've had this year. And real estate values are reflective of the trend. Values have been increasing along with the age of the very baby boomers who are fueling the real estate market."

For more information, check out her web site, or email her.

Boundary adjustment a win-win situation

In the May 22, 2006, issue of the Summit Daily News, reporter Bob Berwin quotes Breckenridge Nordic Center owner, Gene Dayton, as saying "We're looking for the best possible combination of alpine and Nordic skiing" (referring to the Breckenrige Ski Area's planned expansion on to Peak 6. Dayton goes on "We have an opportunity that very few resorts have, for families to share the day" referring to families that include both downhill and crosscountry skiers.

As Dayton envisions it, the new configuration of terrain and trails would enable those family members to meet at a shared lodge on the mountain, where crosscountry and downhill trails intersect.

He said that when Breckenridge Ski Area executives asked for the acreage, he had no reason to turn them down, given that the terrain in question doesn't have an crosscountry trials on it. The new lift-served terrain wouldn't come any closer than about 500 feet to one of the Nordic trails called Siberia Loop. The boundary adjustment is in the best interest of both user groups, Dayton said.

Under the deal with the resort, Nordic center ticket holders would be able to ride the new gondola at no charge. Additionally, Nordic skiers would get one free ride on the Independence Super Chair carrying them to the top of a new nordic-downhill trail. Closer marketing ties and cross-promotion are also in the works.

For additional information, see Susan Gunnin's web site or send her an email.

Stage set for sking at Peak 6

On Tuesday, May 23, 2006, Bob Berwin of the Summit Daily News reported that the Breckenridge Ski Area was in discussions with the Breckenridge Nordic Center about expanding the ski area boundary for development of lift-served sking on to Peak 6.

Ordinarily, such an expansion requires Environmental and Forest Service concurrence, dialogue and public input. Apparently these approval processes aren't required when the expansion is an agreement between adjacent permit holders.

Rick Sramek, vice president of mountain operations for Breckenridge Ski Resort confirmed that the ski area wants to work on some master planning this summer, calling Peak 6 the "final piece" of the resort. Breckenridge skiing currently involves peaks 7, 8, 9 and 10 of the Ten Mile Range. Sramek did add that the public will have a chance to review and comment on the preliminary plans.

In early April, Dillon District Ranger Rick Newton carved between 200 and 300 acres out of the Nordic Center and added it to Breckenridge Ski Area's permitted terrain. The agreement between the two adjacent permit holders enabled the Forest District to make the move without requiring public review or comment as is ordinarily the case when expansion is desired. The terrain is better suited for alpine skiing than nordic because it is steeper terrain. Any specific proposal for lifts to the expanded terrain would require site-specific analysis.

Some criticism of the plan has been voiced, and more can be expected from the EPA, the Forest Service, and ski industry watchdog group Colorado Wild, because changing from nordic to alpine requires that lifts and ski trails have wide, clearcut trails. Breckenridge-based wilderness activist, Currie Craven also questioned the plan. "How [can it be known] that the development is non-significant before hearing from wild life agencies?" The area in question includes elk habitat and some of the most intact stands of old-growth spruce and fir anywhere in the Ten Mile Range.

For more information about the Breckenridge Ski Area, and Breckenridge real estate, see Susan Gunnin's web site or send her an email.

Breckenridge Resort closes for the winter

From Summit Daily News, April 4, 2006, by Nicole Formosa.

After Breckenridge boasted a season that dumped 327 inches of snow on its 2,200 acres of terrain, the resort closed for the winter Sunday [April 23, 2006]. Before calling it a year, skiers and riders watched telemark skiers in funky costumes compete in the annual Bump Buffet on Peak 8's High Anxiety run.

Comments from skiers and boarders:

"The snow was stellar" said Shawn Dye. "I've lived here for 8 seasons now, and it was the best that I've experienced".

From Kelly Scanlon: "It has been phenomenal, wonderful, had a great time. Excellent time on the mountain, good snow, good people".

"This is my first year, but I'm coming back next season" stated Kris Young.

And Jay Stabile said "They just keep getting better ... weather, people, better costumes (at the Bump Buffet)".

To learn about real estate possibilities in this tremendous resort, see Susan Gunnin's web site.

Breck's Peak 7 Project Begins

New base area development set to spring up next year, but work has already begun.

The following is a summary of an article in the Summit Daily News reported by Duffy Hayes Wednesday, March 22, 2006.

Last week Vail Resorts announced the gondola, and this week they announced that the project is finally under way. Vail and Grand Timber Development Company are partners in the new project slated for the base of Peak 7. Vail will develop 44 new whole-ownership condos, and GTDC will develop 114 fractional-ownership units.

Work began last week clearing trees so that County Road 3 can be rerouted around the base of Peak 8 and past the Peaks Trail trailhead. Along with the road shift, the developers will be moving the relatively new Peak 7 Independence Superchair about 100 yards down from where it starts today. Vail will add a couple of new towers, and the new base area will spring up around the new lift site.

The work begun last week kicks off the project and sets in motion the infrastructure phase of the developoment project. This work will continue throughout the spring and summer. A long bridge, spanning some wetlands, will also be built this coming summer.

The condo development will not begin until the spring of 2007. Although each developer has its own general contractor, they will work together so that the village appears as one village, with a consistent theme.

Sales of the properties will follow different schedules, however Vail plans to market their units later this year, about the same time as the gondola is completed. The fractional-ownership units won't go on sale until the buildings are up, hopefully around Christmas, 2007.

Included in the development will be some commercial space: a 4,000 square foot restaurant, and a 4,000 square foot skier services facility. Grand Timber's commercial plans are more geared toward amenities for their guests -- and include a pool, hot tub area, and a "family funcenter".

For more information about these developments, see Susan Gunnin's web site, or email her.

Colorado skier visits set record this season

State hosted 5.2 million skiers and snowboarders between Jan. 1 and Feb. 28

The Summit Daily News reported on Tuesday, March 14, 2006, that Colorado ski resorts are one step closer to achieving their goal of hosting more than 12 million skiers and snowboarders this season, which will make the 2005-2006 winter season the state's best ever, and an increase of over 5 percent over the same period last season.

"The snow is the best it's been in 20 years, and the resorts have done a phenomenal job delivering that message around the globe" said Rob Perlman, Colorad Ski Country USA's president.

Front Range Destination resorts, which include Breckenrige, continue to lead the charge for the year with an increase of nearly 7 percent, or 200,000 skiers over last year's second period results. As Colorado looks forward to what is typically the snowiest month of the year, all indications point to a bright future for the Colorado ski industry.

In a related article titled "Second quarter a strong one for Vail Resorts", it was pointed out that Vail, Beaver Creek, Keystone and Breckenridge, combined, saw an increase of 7.9 percent, or a record 2.9 million skiers.

As far as real estate values go, when you own real estate in a ski area that is prospering and expanding, you can expect you real estate holdings to do the same. For more information on the real estate market in Breckenridge and Summit County, go to Susan Gunnin's web site, or send her an email.

Breckenridge gondola is a go

Long-awaited project will eliminate bus lines

An article in the Summit Daily News, reported by Duffy Hays on March 14, 2006 is summarized below.

A modern, $17 million gondola to whisk skiers and riders to the Peak 7 and 8 base areas of Breckenridge ski resort has been on the town's wish list for more than 20 years, and is finally coming to fruition.

Resort operator Vail Resorts and the town of Breckenridge announced that construction of a four-stop gondola would begin this spring, with a completion date estimated for this coming Christmas [2006].

The gondola will be capable of carrying up to 3,000 passengers per hour from the free ski area parking lots downtown, with drop offs in Shock Hill and on to the Peak 7 and Peak 8 base areas. The ride from bottom to top will take about 7 1/2 minutes.

Today, skiers who want to park for free are compelled to park in town, well below the lifts, and hop shuttle busses for a winding trip up to the base areas. The idea of the gondola dates back over 20 years, and finally making its way to reality. The gondola project is one of the last major steps toward implementing a comprehensive development and transportation plan formalized by the town and Vail in May, 2002. The plan also outlined redevelopment of the Peak 8 base area, and expansion of the newer, Peak 7 base area.

The town of Breckenridge itself is in the midst of a sweeping transportation project that will re-route the majority of vehicular traffic way from the town's historic Main Street to Park Avenue where the free parking lots are located, and where the goldola's new terminal will be built.

The gondola will allow room for ski gear inside, rather than in carriers outside the cabin area. Vail resorts plans to operate the gondola both in winter and summer.

The ski area has guaranteed that it will provide 1,550 parking spaces "right around the gondola" said Roger McCarthy, co-president of the mountain division of Vail resorts.

Today, people park for free in the lots surrounding where the gondola terminal is to be erected. This may not be the case next ski season.

Changes at Vail Resorts

There has been a lot of activity in the Vail Resorts corporate offices. Vail Resorts is the owner of the Breckenridge ski area. First, in January, Adam Aron, the chief executive officer and chairman of the board of directors of the company, announced his retirement. His replacement is company insider, Rob Katz was formerly a senior partner with Apollo Partners who took control of Vail in 1992.

One of Katz's first announcements was that Vail was going to relocate its corporate offices from Avon, near Vail, to Denver. According to an article in the Summit Daily News on March 1, 2006, Katz said that moving to Denver "will facilitate lower occupancy rates, provide greater administrative efficiencies, enhance recruiting opportunities and allow more centralized access to all of the company's properties. It also better positions the company for future strategic growth."

As a result of the move, some 100 current Vail employees have been asked to relocate to Denver. It is unsure how many of these employees will give up their lifestyles in Vail to make the move.

Olympics, Local Athletes, Winter Sports Achievements

You'd think that living and growing up in Rocky Mountain ski areas would give an advantage to any athlete with Olympic dreams. Those thoughts approach clairvoyance when three "locals" caught world attention in the Winter Olympics in Turin, Italy.

First, there was Lindsey Kildow, a resident of Vail, who, in a training run, suffered an unbelievable crash in pre-competition warm-ups, but still managed to make it through the competition two days later with a truly gutsy performance.

Then, Toby Dawson, another Vail resident, earned a bronze medal in the Moguls Free-style comptition with an amazing run.

Finally, Breckenridge resident Katie Uhlaender, a 2002 graduate of Summit High School, placed sixth in the "Skeleton". This competition gives me chills. It is luge competition, but "FACE FIRST". Yeah. Competitors go down the luge course, at 60-70 miles per hour, on a little sled that their anatomy barely fits on, FACE FIRST. Being sixth best in the world in this sport surely deserves a response of AWE. And, she thought she should have done better, but was shaken up by "pre-event jitters". I'd have jitters, pre-event or not!

It's no wonder that living in the mountains produces such world-wide talent. My nine-year-old daughter learns sking through a ski program that is part of her physical education program in elementary school. Couldn't do this in, say, Dallas or Phoenix.

Not surprisingly, Summit High School just recorded its third state championship in a row in both girls and boys Nordic and Alpine skiing competition. For the 33rd time, the ski teams have won the State Championships.

So, you have a potential world-class skier in your household? Summit County is probably one of the best places in the world to tap that potential.

Need a home here? Check out my web site.

2005 was record year for Summit County Real Estate

A market analysis by Land Title Guarantee Company in Breckenridge reports that Summit County hit $1,475,627,499 in property sales for the year 2005. Yes, thats almost 1 1/2 BILLION dollars in real estate activity for the county.

This represents a 31% increase over 2004 in dollar volume and a 14% increase in the number of transactions completed.

Breckenridge posted the largest volume and number of transactions of all the towns in Summit County.

In a separate survey performed on random condominium complexes in Breckenridge, Susan Gunnin found that the typical condo in Breckenridge increased 12% in value from 2004 to 2005.

This bodes well for current investors, and presents a real opportunity for future buyers. See Susan's web site for more information.

Early season skier visits set new record

Colorado resorts host more than 3 million so far this season

An article in the January 12, 2005 Summit Daily News written by Nicole Formosa reports that the 25 Colorado ski resorts that make up Colorado Ski Country USA, set a new record for skier visits during the first portion of the season. A skier visit is one person skiing one day.

The 25 ski resorts together hosted 3,085,186 skiers from October 15 through December 31. This is a 5.6% increase over 2004, and a 10.94% increase over the last 5-year average.

Colorado Ski Country USA president, Rob Perlman, said "Although we have the majority of the ski season ahead of us, early reports indicate the first 10 days of January have been strong, keeping Colorado on pace for a record year."

Leading the change is the Front Range Destination Resorts, which include all the resorts in Summit County as well as Vail and Beaver Creek. These resorts are up more than 10% from last year.

Perlman attributed the success to record, earlyi season snowfall as well as the marketing efforts of Colorado Ski Country USA and the individual resorts. He said "There's a lot of excitement going on in Summit County in particular.

December was the fourth snowiest early season in Breckenridge since the early 1800's. And precipitation has been above average every month since September, and more than 150 inches of snow has fallen since October.

The success of the ski season has a tremendous impact on real estate values. For more info on this subject, visit Susan Gunnin's web site.

SNOW, SNOW AND MORE SNOW!!

A couple of articles in the Summit Daily News today, written by Bob Berwyn, addressed the phenomenal amount of early season snowfall we've had in Summit County this year.

The first "Streak of welcome wet weather persists" is near and dear to my husband, Don's, heart! Don is the prime snow shoveler at our home, with occasional help from our daughter Tessa. Don claims he's never shoveled so much snow this early. In fact, he says he's already shoveled more snow in these first few weeks of winter, than he ususally shovels in a whole year. And we've lived here for 17 years.

A summary of the article:

It probably won't come as a surprise to anyone who's spent the last few weeks shoveling, but snowfall for the month of December was once again above average for Summit County.

We've had four straight months of above average precipitation. December didn't bring anywhere near record snows, but if you take into account the total of 111 inches that fell in October, November and December, it adds up to the fourth-snowiest winter ever. The prior years with more snow for the same period were 1893, 1969 and 1983.

Since Colorado, along with other western states have been in a drought mode for the past several years, this snow bodes well for the potential filling of our reservoirs. Most of the water that feeds Colorado's reservoirs is from melting mountain snow.

So, "When will the snow stop?" This is the topic of the second news article.

"It looks good for the next two months" said Dr. Klaus Wolter, a climate scientist with the National Oceanic and Atmospheric Administration's climate diagnostics center in Boulder. "I don't see any big changes .." in the conveyor belt of storms rolling in from the Pacific on the prevailing westerlies.

As a note of caution, Wolter mentioned that a developing La Nina could put a damper on precipitation later in the spring.

Upon hearing this, my husband simply breathed a sigh of relief!!

WHAT DOES THIS HAVE TO DO WITH REAL ESTATE?

It's really pretty simple. Real estate values in a ski resort are greatly affected by the skiing experience, especially for property owners who have short-term rentals in their property. The better the skiing -- the better the rental revenue! Check my website or call for more information about this phenomenon.

We haven't yet received data about the volume of skiers visiting Breckenridge thus far this season, but I'm quite sure we will approach a new record in this regard. As soon as data is available, it will be pubished here.