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Good day from (very) snowy Crested Butte,
2009 has begun with new deal making and some incredible opportunities to purchase premier Crested Butte real estate at seriously discounted prices. Buyers are enjoying strong inventories and competitive price reductions across all categories. The lower end of the market has come alive and we have 14 properties currently under contract including 9 townhomes and condos and 2 single family homes. Buyers are also taking advantage of the cheap money offered by lenders for residential purchases. Borrowers are realizing sub-6% and in some cases sub-5% rates on 30-year fixed residential loans.
Last Week's Closing Activity:
337 Cement Creek - Crested Butte South Townhome - SOLD at $390,000
401 Black Bear Lodge - Condo in Mt Crested Butte - SOLD at $950,000
103 Mountain Sunrise - Condo in Mt Crested Butte - SOLD at $244,000
Under Contract Activity:
7 homes and condos priced between $200,000 and $2.2 million in Mt Crested Butte
4 homes and condos priced between $190,000 and $735,000 in the Town of Crested Butte
1 home (asking $635,000) and 1 condo (asking $159,000) in Crested Butte South
In other news, CNL, the real estate investment trust that acquired Crested Butte Mountain Resort recently, appears to have a lot of cash to spend. They just acquired another resort in Massachusetts under a similar "sale, lease-back" deal bringing their ownership total to 14 North American ski resorts. Learn more in my blog.
Thanks for reading today. Be sure to review the opportunities below. These properties represent the best of Crested Butte real estate at highly attractive price reductions.
Regards,
Channing Boucher
Benson Sotheby's International Realty
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Lot 4 East River Ranches - $1,500,000 Now Offered at $875,000
Lot 4 at East River Ranches features a spectacular south-facing homesite on the East River in Crested Butte. Fishing rights accompany this 35+ acre parcel. Enjoy tremendous views of Crested Butte's big peaks - Whetstone, Emmons, Mt. Crested Butte and Teocalli fill the 360 skyline. The home site is level, elevated above the East River and utilities and roughed-in drive are installed.
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Lot 2 Smith Hill Ranches - $1,495,000 Now Offered at $975,000
Lot 2 at Smith Hill Ranches is a rare find considering it is located within a 8 minute drive to Mt. Crested Butte ski lifts! This 35 acre parcel lives big. The home site sits within a pristine mountain meadow and features a healthy forest of big mature Aspen and Pine trees. The views to the east are dominated by 12,100+ feet of massive Mt. Crested Butte. This is a great deal considering Lot 6 at Smith Hill sold for $1,500,000 less than 3 months ago.
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C304 WestWall Lodge - $1,675,000 Now Offered at $1,050,000
Arguably the nicest WestWall Lodge unit, this 3rd floor, penthouse suite is architecturally enhanced beyond the developer's original plans. Featuring double master suites with full bathrooms, vaulted ceilings, hardwood floors, a luxurious furniture package and full granite slab counters in the kitchen, this ski in / ski out luxury condo represents the best of breed. Whetstone, Axtel, and Mt. Emmons fill the southern skyline from your oversized, private covered deck. |
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293 Haverly - $549,000 Now Offered at $519,000
This is an excellent opportunity for a well maintained single family home in Crested Butte South. Enjoy the quiet, mature neighborhood and proximity to the park, ice rink, tennis courts and many amenities of CB South. This 3 bed/2.5 bath home sits on .38 acres and features an updated kitchen, comfortable floor plan, big mountain views to the south and west and a nicely landscaped yard surrounded by a new wood fence.
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