“You can’t cuddle up in front of a stock certificate.”
-US News and World Report
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Overall the market would best be described as stabilizing.The top end remains relatively strong and obvious deals across all sectors of the market - with the exception of vacant land - are attracting offers and closing.Sales in 2010 are far outpacing those from 2009 and are running fairly even to the results we saw in 2008, but they are well below the previous five years.We are essentially closing about 35% of the deals that we were closing annually from 2003 – 2007.The following file expands on these points, including a graphic representation.
| market_update_september_2010.pdf |
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| oct_10_cover.pdf |
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Dollard's Top 5 Deals in Telluride Real Estate (updated November 13, 2010)
For each, click here to reach my Search MLS page. From there, simply enter the MLS #, hit GO and you will be taken to additional details and photos for the property.
1. Telluride Homes – MLS 25552 – Spacious and sunny 3-bed/3-bath home with a separate 2-bed/1-bath apartment in terrific neighborhood. Over 3,900 sq ft of improved space. Priced to sell in the near-term at $1,795,000.
2.. Mountain Village Homes - MLS 26983 - This home is currently involved in a judicial foreclosure. The rarely used 5-bed/5-bath home was completed in early 2010 and measures nearly 7,000 sq ft. On grade ski access. Asking $6,499,000 but foreclosure proceedings imply a much lower price is imminent.
3. Mountain Village Condos - MLS 25647 - A south facing ski-in/ski-out condo in the the Village Core. Designed with 2 Master Suites, both baths feature steam showers and jetted tubs. Big views from every room. Large, sunny balcony. Garage parking. Selling for over $1,200 per sq ft three years ago this property is value priced at $995,000.
4. Telluride Condos - MLS 26575 - Located at the base of Chair 7 this 2-bed/2-bath property enjoys unbeatable convenience to the slopes. Over 1,000 sq ft with a large south-facing deck and a dormer window over the river. A $50,000 special assessment has been paid and the complex has never looked better. A steal at $479,000.
5. Deed Restricted Property - MLS 26578 - A great deal for a local. 2-bed/2-bath/1-loft condo with over 400 sq ft of decks. Nestled amidst an aspen grove with the sound of the river below - a magical setting. With a small down payment a local could own this for less than paying rent. Ready to sell with a price of $235,000.
The NewsLetter from my brokerage embedded below contains relevant information on the Telluride real estate market, facts on some notable sales, as well as calendar and event information to assist in planning for the summer season.
| trec_newsletter_early_winter_2010.pdf |
“If you are going to invest in vacation homes, you want to invest where the supply is relatively fixed.”
-The Wall Street Journal
