Answering the question:
"Where's a good place to go?"

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Colorado Properties
Our business is helping people choose the best location for their 2nd home. We do this in two ways: First we perform a detailed economic analysis and trend forecast, then we identify pre-foreclosure and distressed properties.

We seek out stable growth.

What you will find here are our discoveries. We undertake this research and share it with you so you can decide what is "good".
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Wednesday, March 17, 2010

Crested Butte

For almost 30 years now, the founding partner (Tom) has been experiencing the mountain towns of Colorado.  In the beginning Denver, Boulder, and Castle Rock were separate and distinct.  Going to Telluride, Aspen, or Steamboat was like travelling to Brigadoon.  Few places in Colorado have the ability to transport you back to the glory days of the 1970's - 1980's.  Crested Butte might be as close as you can get!

Before you pack your bags and call us for air transportation, there are a few issues.  The ski area, segregated communities, and environmental concerns, are the three gorillas in the room.

Mt Crested Butte
If you are used to miles of groomed runs.  If your looking for a place where you can turn the kids loose and know they won't get themselves in over their heads.  Mt Crested Butte may not be the place to ski.  As a good friend said, "If you like to drop into a chute and scream woo-hoo (but only when you reach the bottom), Crested Butte gives you that."

For those of us who remember Telluride before the Mountain Village, before the gondola, before scheduled airline flights; this is Crested Butte. (For those who don't, Wikipedia.)  Unfortunately, if you're looking to re-live those days, think hard to everything that came with it.  Getting there was harder, it always seemed to be a little colder, the mountain wasn't very big, service facilities and lodging weren't as plentiful.

It's a 50/50 split, some people want to "fix" this, some don't.  Town council meetings and coffee shop conversations are very lively.

Layout of the Crested Butte
There are three separate locations to Crested Butte.  Mt Crested Butte (ski area), Crested Butte (town), and Crested Butte South (a POA community).  It reminds me of Durango, Hermosa Valley and Purgatory (Durango Mtn Resort) of 1980.  They all have different needs and ideas on how to service them.  One group C.A.V.E (Citizens Against Virtually Everything) seems to have the cheapest and easiest solutions.  Everyone else is working hard, but having a tough time making progress.

Improvements and the Surrounding Area
Where do I start?
  • The ski area wants to expand into Snodgrass.  Someone who's not even in the area anymore threw a monkey wrench into the process.
  • Some folks in CB South have resurrected the idea of reopening the Pioneer Ski Hill on Cement Mtn.  It had 2,000 ft vertical, a single chair lift and was open from 1939 to 1956.
  • There is an extremely aggressive student athletic program.
  • Parks and Recreation budget is steadily growing (taxes?)
  • Public transportation services are "inching forward".
  • Summer tourism is growing and starting to conflict with private lands.
  • Arts & music festivals often fill to capacity.  Could be a function of "capacity".
  • Modest population growth in the last 10 years.  Seasonal home ownership is up.  That drive the cost of real estate up.  Next comes the affordability housing issue for the people providing services.
  • Late night transportation is minimal.  The police department derives a significant amount of revenue from DUI citations.
Summary
So there you have it.  Depending on your family profile and what your plans are for any real estate purchase.  Crested Butte could be The Place or the place to avoid.  Are you looking for nostalgic or a variety of services?  Do you need to generate rental income or is it property that you make memories with?

Our assessment gives Crested Butte a solid " Yellow Light" with a possible detour to another location.
Never Fly Solo!

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