Great Secondhand Summit Story

Funny story at my office meeting on Tuesday. Another broker in my office sold a condo to some clients last year and the property hadn’t appreciated as much as he had hoped. Anyways, he ran into them and was really nervous as to what to say and was worried they would be upset with him…. The first thing they said was thank you so much for encouraging us to buy this condo. Had we left the money in the stock market, ½ would be gone. So it had a happy ending!

Breckenridge Opening Day Press

BRECKENRIDGE SKI RESORT TO START THE 2008/2009 SEASON ON PEAK 8
* New opening event Laughs and Lifts Nov. 6 - 8
* AST Winter Dew Tour Dec. 18-21
* Wake up Breckenridge Nov. 6
BRECKENRIDGE, Colo. -OCT. 17, 2008-Today, Breckenridge Ski Resort announced the opening day plan for the upcoming winter season. Breckenridge Ski Resort is planning to open Friday, November 7, with terrain, lifts and services on Peak 8. With cold temperatures in the forecast providing optimal snowmaking conditions Breckenridge Ski Resort plans to start up snowmaking operations Sunday, October 19. Skiers and riders can expect to enjoy top to bottom skiing via the Colorado Superchair. The BreckConnect Gondola will be open providing the only resort access with a scenic ride from the skier parking lots in town (there is no parking on Peak 8 due to construction).
"With the opening of Peak 8, we are able to provide a new experience on opening day to all of our guests," said Rick Sramek, vice-president of mountain operations for Breckenridge. "We will be able to open more ski runs and lifts earlier, allowing skiers and riders more choices in terrain."
Breckenridge guests can look forward to an opening weekend packed with events. Breckenridge will celebrate opening weekend with the First Annual Laughs and Lifts Comedy Festival. Taking place at the Village at Breckenridge from November 6 - 8, featured acts include Eddie Gossling (Comedy Central), Chuck Roy (Will and Grace, Last Comic Standing - Semi Finalist), Denver's Mile High Sci-Fi presents 'The Terminator', Wrist Deep Productions (Denver's hottest underground comedy collective), Hypnotist Rusty-Z, with more to be announced. Visit http://www.blogger.com/www.laughsandlifts.com <http://www.laughsandlifts.com/> for updates and more information.
"Opening Peak 8 first this year gives our mountain operations team every advantage to prepare the mountain and venue for our largest event ever, the AST Winter Dew Tour. The Winter Dew Tour co-sponsored by the Town of Breckenridge, runs from December 18 - 21, will feature freeskiing and snowboarding disciplines for both men and women with over 10 hours of live coverage on NBC, 6 hours on the USA network and 12 hours on MTV and MTV2," said Lucy Kay, chief operations officer for Breckenridge Ski Resort.
Breckenridge Ski Resort and the Town of Breckenridge would like to say thank you to the Breckenridge community during the sixth annual Wake Up Breckenridge, Thursday, November 6 at local coffee shops from 7-9 a.m. Members of Breckenridge's management team and town leaders will be on hand at the following coffee shops in town to distribute 1,500 free mugs and coffee at: Starbucks; Clint's Bakery & Coffee House; Cool River Coffee House; Helen's Coffee Cart at City Market; Amazing Grace, Coffee Depot at Main Street Station and Daylight Donuts.
Breckenridge Ski Resort plans to open Peak 9 by Thanksgiving with all skier services available at both the Village and Beaver Run base areas. With early opening of Peak 8 and the Thanksgiving opening of Peak 9, the resort will be able to offer more variety by the Thanksgiving holiday.
Breckenridge Ski Resort would like to thank Vail Resorts Development Company and PCL Construction for their great teamwork and effort in advancing the construction schedules of One Ski Hill Place to accommodate opening plans on Peak 8. Openings dates and terrain are subject to weather conditions and unforeseen construction related issues.

Media Contacts:

Kristen Petitt: (970) 453-3210, kpetitt@vailresorts.com
Ryan Whaley: (970) 547-7402, rwhaley@vailresorts.com

Solds last week

Here are the solds for this past week. This is all residential property in Summit County.
http://summit.mlxchange.com/Pub/EmailView.asp?r=813972997&s=SUM&t=SUM

Summit County this week

Many of my clients have been asking the same question. "Kaycee, what is selling. What price range is moving and what town?" Here is a link to the sales this last week. http://summit.mlxchange.com/Pub/EmailView.asp?r=733170804&s=SUM&t=SUM I hope that sheds some further insight into the market here. I'll continue to keep you updated.

Kaycee

Foreclosure Article

A few months ago I posted on foreclosures in Summit County. Here is an article I came across for Vail/ Eagle County but has references to are area here too.


High-dollar home sales still going strong, market report says
Melanie WongVail, CO Colorado

EAGLE COUNTY, Colorado — The county has mostly escaped the foreclosure crisis that has affected much of the rest of the country, real estate and financial experts said.The number of foreclosures in the county are about on track with last year, said Eagle County Public Trustee Karla Herridge.There have been 112 foreclosures filed in Eagle County so far this year. There were a total of 140 foreclosures in 2007 and 197 in 2006.Time shares usually make up almost 60 percent of the foreclosures in the county, but this year time shares have only made up about a third.“It’s been more foreclosures on real properties this year,” Herridge said.Foreclosures on time shares can be more common because people often buy them at high-pressure sales pitches, and the owners are often younger people. Other times the foreclosures are results of a divorce, Herridge said.Chris Neuswanger, a loan officer at Macro Financial Group, said he has noticed a similar trend.“(Foreclosures) are up a little bit,” he said. “But it hasn’t been impacting us as much. When you compare us to other parts of the country, it’s minuscule.”While in other markets, foreclosures can bring down other property values in the neighborhood, that hasn’t been the case in Eagle County, Neuswanger said.The limited numbers of foreclosures won’t affect surrounding home values too much as long as they are sold at the market price and aren’t for-sale for too long, he said.The mountain resort counties tend to stay strong while foreclosures hit elsewhere, Herridge said.Summit County hasn’t seen an increase in foreclosures either — in the fact the numbers are slightly lower compared to September of last year, said Bill Wallace, the county’s public trustee and treasurer.“I still get people calling and trying to get a good deal (on a foreclosed home),” he said. “But it didn’t exist before up here, and it still doesn’t exist.”

Unknowingly foreclosed?
A look at the treasurer’s foreclosure data reveals an unexpectedly broad range of homeowners in trouble. The homes listed for foreclosure range from middle-range properties to high-end homes in Vail or Cordillera.Gretchen Scheibe, who formerly worked for a local real estate broker, said she’s concerned that many of these homeowners, especially second-home owners, might not know their homes are under foreclosure.Often the notices are sent to the address of the homes undergoing foreclosure, and in some cases, records show that mail has been returned from a home multiple times.Scheibe said she’s known at least one second-home owner in the county who simply lost track of the home payments. The notices were being sent to the home’s physical address, and the owner had no idea their home was undergoing foreclosure.“At a minimum, that’s very troubling, especially in a place where a majority of areas don’t have mail service to physical addresses,” Scheibe said.Herridge admitted that kind of mistake can happen, but that the Treasurer’s Office can only go by the address provided. The Treasurer’s Office is required try and contact the last known address of the home owners, send mail notices at least twice, and to publish notices of foreclosures for five weeks in the newspaper, Herridge said.

Sales still strong
While there has been a lot of talk about foreclosures, slowing sales and a dead real estate market, Neuswanger said he doesn’t think Eagle County is in too much trouble. He said he has seen a “slow down” in the down valley home market, but isn’t too worried.“There’s nothing I would call a ‘declining’ market here,” he said. “Hopefully we’ll dodge the bullet. My sense is that things are solidifying.”According to a recent Land Title Guarantee report, it’s been a good summer for property sales in the county, especially multi-million dollar sales.July had the highest dollar volume sales of any month so far in 2008, and sales were higher than any other July on record, according to the report.Staff Writer Melanie Wong can be reached at 970-748-2928 or mwong@vaildaily.com.

Summit County Parade of Homes

The next 2 weekends are the Parade of Homes. Click on link to view: http://summitcountyparade.co.newsmemory.com/

Vail Resorts

Check out this interesting article:

Vail Resorts Named a “World Saver” by Condé Nast Traveler for Leadership in Environmental Protection

Company Announces Identification of 5 Percent Reduction in Total Energy Consumption for Fiscal Year ending July 31, 2009

BROOMFIELD, Colo. – Aug. 18, 2008 – Vail Resorts (NYSE: MTN), the premier mountain resort operator and a leader in luxury destination-based travel at iconic locations, was honored today by Condé Nast Traveler as a leader in social responsibility in the travel industry as a winner of the magazine’s 2008 World Savers Awards in the category of environmental protection.

As one of only six global travel companies hand-picked from 142 applicants by an elite and prestigious judging panel for Condé Nast Traveler’s environmental leadership awards, Vail Resorts was recognized for its commitment to renewable energy, its aggressive and innovative “energy layoff” conservation program and its successful forest conservation partnership with the National Forest Foundation, a nonprofit associated with the U.S. Forest Service.

"The Condé Nast Traveler World Savers Awards recognize companies that are stepping up to the challenge of improving our world," said Condé Nast Traveler Editor-in-Chief Klara Glowczewska. "This year’s finalists are setting standards in social responsibility in ways that we hope will become models for the entire travel industry."

“At Vail Resorts, our product is the great outdoors and as such, we have a special obligation to protect the environment in which we live and work,” said Rob Katz, chief executive officer of Vail Resorts. “We are truly honored to be recognized as one of the leaders in sustainability in our industry by one of the icons in the publishing industry - Condé Nast Traveler. But, we’re not resting on these laurels. We are continuously looking for ways to further improve the already exceptional experience we provide our guests and to do so in a responsible and sustainable way.”

In August of 2006, Vail Resorts committed to offset 100 percent of its electricity usage with renewable energy credits that support the development of wind farms across the country. At the time, Vail Resorts had made the second largest corporate commitment to this renewable energy program in the United States. That commitment continues to this day with Vail Resorts offsetting electricity for its five ski resorts, lodging properties including eight RockResort hotels and spas and nearly 2,000 additional hotel and condominiums, the Grand Teton Lodge Company, more than 145 retail and rental operations and its office locations.

Vail Resorts also forged a partnership with the National Forest Foundation, a nonprofit partner of the U.S. Forest Service, to create one of the largest donation-based forest conservation programs of its kind, that has raised almost $1 million to date, allowing numerous miles of trails to be built and maintained, wildlife habitat to be protected and also for the improvement of the overall health of forests.

In the fall of 2007, Vail Resorts launched an energy conservation program that was then expanded in the spring of 2008 with the announcement of a companywide “energy layoff” with the goal to reduce the Company’s energy consumption by 10 percent over two years.

Today, Vail Resorts announced that it has identified initiatives across the Company that would result in a 5 percent reduction in its energy consumption for its fiscal year ending July 31, 2009 (over the prior fiscal year). New “energy layoff” measures that will be implemented this ski season include:

Companywide implementation of a program started at Beaver Creek called IdleWise that limits idling time on all company vehicles to five minutes or less;
Expansion of the employee carpool incentive program;
Upgrades and enhancements to snowmaking systems: from energy-efficient pumps to purchasing new, higher-tech snow guns that save energy and water;
Right-sizing vehicle power and optimizing vehicle routes to minimize fuel consumption on all tasks;
Installation of motion sensors and programmable thermostats;
Lighting retrofits;
Mandatory adherence to Energy Star criteria for all capital projects;
Infra-red photo audits of the energy efficiency for Company facilities and buildings to reduce leaks and use less energy to heat buildings; and
Numerous other initiatives.

“Today, reducing energy consumption should be one of the highest priorities for any U.S. company. With both the high price of oil and natural gas, as well the imperative to protect our natural environment, nothing can be more critical. I am incredibly proud of everyone at Vail Resorts for their ingenuity and dedication. While some folks may know the right thing to do, our folks went out and did it. What I am very impressed by is that our Company will accomplish these reductions and lessen our consumption of a valuable worldwide commodity, while at the same time we will be taking the experience we provide our guests up to a whole new level this year,” said Katz.

For more information about Vail Resorts’ “energy layoff” program or its other sustainable programs, visit www.vailresorts.com .
About Vail Resorts
Vail Resorts, Inc. is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resort properties at the Vail, Beaver Creek, Breckenridge and Keystone mountain resorts in Colorado, the Heavenly Ski Resort in the Lake Tahoe area of California and Nevada and the Grand Teton Lodge Company in Jackson Hole, Wyoming. The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties across the United States and the Caribbean. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.