February 2004 |
| Breckenridge
News - What’s
next? The eastern sky is just beginning to lighten; the highest cirrus clouds turn crimson with their edges tinged gold. Your breath creates clouds in front of your face as little ice crystals form on your nose hairs. Even in mid-July mornings are frosty at nearly ten thousand feet above sea level. It’s early but you heard this was a special time of day in the Rockies. As the light creeps down the mountainside the lingering snowfields pick up the colors of the sky, now changing to shades of magenta. Beyond the clouds the upper atmosphere is the most brilliant baby blue you have ever seen. The birds have come to life, singing without regard to the crisp temperature. A hummingbird buzzes by, inches above your head, too fast to be seen. Wait, there he is hovering above a columbine, sucking in as much nectar has he can hold. He’ll be hungry again almost as soon as he’s done; constant nourishment is necessary to maintain life at mach speed. Suddenly you notice the sun has come over Baldy Mountain and it’s rays, nearly unfiltered at this altitude, are amazingly warm. The frost on the grass disappears immediately and you again know it’s summer in The Rockies. People always ask what we do here when the ski season ends. It sounds like a marketing play-on-words but it really is true; we come for the skiing but we live here for the summers. When it’s 110 in Texas and Florida it’s 80 degrees in Breckenridge with no detectable humidity. When I show property a common question is, “Does it have air-conditioning?” I respond, “Yes, open a window”. Once you have spent a summer in our climate it’s so hard to go back to the heat, humidity and air pollution of most cities. So what do we do? Since it’s so comfortably cool we get outdoors and do physical stuff without fear of heat stroke. We hike, bike, golf, play tennis, ice skate (no kidding), roller blade, play softball, play hockey, go swimming, have BBQ’s, have parades, go to music festivals, rodeos, horseback riding, alpine sliding, camping, Fourteener climbing, Frisbee golf, Frisbee with the dog, whew, that’s enough for now. One of my favorite events of the summer is Genuine Jazz in July, which is now the last weekend in June. This could be the best free music festival in the world. During the day, bands play on a floating stage in the Maggie Pond and on another in Main Street Station for no admission charge. At night the bands play in local clubs for a small cover. It’s an incredible weekend. From mid-June to Labor Day you can listen to two symphony orchestras and a variety of eclectic entertainment at The Riverwalk Center in downtown Breckenridge. Plus we have one of the world’s best small town 4 th of July celebrations you have ever seen, be sure to join us. |
| TAKE
YOUR CYANIDE AND… Drink it! Kudos to the Summit County Commissioners for standing up to the big boys in the mining industry and saying no to cyanide heap or vat leach mining. This type of mining involves pouring cyanide onto huge piles of rocks in order to leach out small amounts of gold. Opponents pointed out the $200 million clean up of the Alamosa River from cyanide mining and other similar incidents to dispel the mining industries argument that cyanide mining is environmentally friendly. Even if the risk is small that cyanide will leach into the water, the results could be devastating. Goodbye fishing, rafting and frolicking, and what about Lake Dillon, Denver’s water supply? How would huge strip mines affect our visitor count? The price of gold seems to reflect that the supply is more than adequate and certainly not worth risking everything else that supports this county and millions of people who live around us. |
| WHY
I LIVE HERE… It’s a hectic morning; we’ve given up on getting to the slopes when they open. Oh well, it’s getting warmer by the minute. My wife, Kendra, is going skiing for the first time in the few years since the knee surgery and she is just now taking inventory of what she will need. When you ski several days a week like I do everything is at hand, she has no idea where her goggles are. I decide she can use the new ones she gave me for Christmas even though my old ones are getting so scratched it looks as if they are fogged up, but I love her. Finally, we might make in time for a lunch break. The parking lot is nearly full by this time of day but we find a spot near the end of the row where someone has already concluded a day of skiing. I unload the skis and poles, put on my boots, helmet and gloves, we’re ready! Oops, Kendra has forgotten her coat. No problem, we go home and get her coat, we are back in the parking lot heading for the shuttle bus in fifteen minutes. This is why I live here, it doesn’t get much better. I remember when I used to drive two hours to the ski area; one time I nearly got frostbit my ears because I forgot my hat. A second home in Breckenridge is second only to living here. Give me call and let’s get you within ten minutes of the ski area. Then it won’t matter the next time you forget something. |
| SCHOOL
NEWS… A recent meeting brought overwhelming support for the International Baccalaureate program at Summit Middle School. In a vote, 94% of the staff recommended expanding the program so it is available to every student who desires to enroll. Right now about 20% of the students are enrolled and eligibility is based on the standardized test scores. Soon any student who wishes to be challenged may enroll. The IB mission statement says; The International Baccalaureate Organization aims to develop inquiring, knowledgeable and caring young people who help to create a better and more peaceful world through intercultural understanding and respect, as well as a stimulating program for academically capable and motivated students. Over fifty parents and community leaders showed up to support expanding the program. The decision is still pending further comment from parents and a vote of the school board, likely to be held this month. |
| SNOWRIDING
NEWS… Last winter season, sales of helmets to skiers and snowboarders increased 31.8%, making helmets the top-selling accessory, according to SnowSports Industries America. Professional skiers and children have favored helmets for years but now the fastest-growing market segment for many helmet manufacturers is adults. Trauma doctors say serious head injuries can be drastically reduced by the use of helmets. Park City Mountain Resort in Utah announced it would no longer host World Cup events, leaving Beaver Creek as the only American venue on the World Cup schedule for the 2004-2005 season. Park City had hosted World Cup events for 18 years and now the Aspen Skiing Co. plans discussions to host World Cup events over Thanksgiving weekend. Colorado continues to lead the nation in the ski industry, why go anywhere else? The Snowboard Outreach Society, a nonprofit group that works with 1,200 at-risk youth each winter at 28 resorts across the country, has a 74% retention rate of program participants to snowboarding, according to a survey conducted by the group. Students who have continued to snowboard after the SOS beginner program return to a mountain to snowboard an average of seven days per season. This is a great way to get kids into a positive and healthy activity. They also sponsor the SOS Outreach Series; a 15-event USASA/USSA dual sanctioned snowboarding series at Vail, Beaver Creek, Keystone, Breckenridge & Steamboat Springs. This is the largest snowboarding series in Colorado! Boarders can compete in Slalom, GS, Halfpipe, Slopestyle & Snowboard Cross. The National Brotherhood of Skiers, the largest African-American skiing group in the country, will be in Copper Mountain Resort Saturday through Feb. 7, with some 1,500 in attendance. The NBS has more than 80 clubs in 75 U.S. cities and it is the fourth time the group has held its annual meeting at Copper. |
| TRAVEL
TIPS; WINTER DRIVING… In a gruesome reminder of the dangers inherent in our beautiful high country two local teenagers were killed recently on I-70 coming down the hill from the Eisenhower Tunnel. Excessive speed, over 100MPH, and an icy road added up to the inevitable. Although this was a ridiculous test of fate even those with four-wheel drive need to use extra caution when driving this time of year. Roads that appear dry can contain “black ice”, ice that looks just like pavement. Slow down, take your time and enjoy the beautiful scenery along the way. Four-wheel drive helps you go, it doesn’t help you stop There are other precautions you should take to prepare for the unexpected. Accidents and avalanches can close roads instantly and often for hours, or even overnight. Be prepared to spend the night in your car by carrying sleeping bags, food and water and a flashlight. If your car is not moving for a while turn it off. An idling car is deadly. Thousands of people die each year from carbon monoxide poisoning trying to stay warm with their car’s heater. A bag of sand is great for traction on icy roads. Lastly, if you are bringing your personal vehicle on your mountain vacation wash it as soon as you are on the way back home, the magnesium chloride used to de-ice the roads is highly corrosive to the underside of automobiles. Thanks for traveling. |
| INVESTMENT
OPPORTUNITIES The Denver Post recently featured Steamboat's entrepreneurs, and the rise of small businesses becoming major players in the outdoor apparel and equipment industry. Featured companies: BAP Inc.; Big Agnes; Boa Technology; The Creek Co.; Fat Eddy's; Hog Island Boat Works; Honey Stinger; Moots; Smartwool and Spiffy Dog. Big Dreams are possible in The Rockies. The Denver Business Journal interviewed five of the state's leading economists on their outlook for Colorado in 2004. Here are some of their projections: -The total number of Colorado jobs could rise somewhere between 30,000 and 40,000, an increase of 1.4% to 1.9%; -Colorado home prices will rise by 3.5%; -State exports will increase On the national scene: -Gross domestic product will rise; -Inflation will be low; -The Dow Jones Industrial Average will end 2004 at 11475 to 12400 vs. 10454 in 2003. ~Standard & Poor's has boosted Colorado's credit rating on about $39.5 million in debt from "negative" to "stable." The change reflects anticipated increases in state revenues, upturn in the high-tech and telecommunications sectors and population growth. Colorado is one of the few states in the nation to show recent improvement. The Vail Valley Medical Center announced it’s expanding services in Silverthorne, Keystone, Breckenridge and Frisco, with possible expansion sites in the Silverthorne-Dillon area. The announcement comes as competitors Centura Health and St. Anthony's Hospitals are planning a hospital just south of Frisco. |
MARKET
CONDITIONS REPORT Real estate sales last year in Summit County rose to $735 million from $583 million in 2002, that’s a whopping 26%. The number of transactions increased from 1,872 to 2,258. Real estate sales in Eagle County in November, 2003 totaled $144 million, 117% above last November's totals and year-to-date sales totaled $1.28 billion on 2,309 transactions. Residential real estate sales in December in Eagle County totaled $185 million, a one-month record. This trend should soon be seen throughout the high country. Summit, Pitkin, Eagle and Grand counties receive nearly 70% of Colorado's skier visits and about 60% of all residences are second or third homes. The second homeownership trend will continue according to a study released by the Northwest Colorado Council of Governments. The study indicates the growth rate of second-home purchases will increase over the current rate of 5%, with the most likely purchasers between the ages of 55 and 64. The vast majority of these baby boomers, 69%, are making in excess of $100,000 per year and many have or will inherit substantial moneys from their parents. What is the logical conclusion concerning how this will affect prices? I’ll let you decide. The driving reason to own mountain property is no longer skiing but other recreational opportunities and an active lifestyle. A recent survey said 45% of Americans look at second home ownership as the top symbol of wealth. The latest trend is buying a third home. Why? As the Denver Post said in March 14, 2002, "It is striking that after the longest, strongest bull market in history, the average American built more wealth owning a home than investing in the stock market." Additionally, the rumors out of The Federal Reserve are that the long hold on interest rates could be coming to an end. Consider this: For a $250,000 30-year mortgage at 8.5% interest: -$1,920 a month payment -Total interest paid of $440,000 For a $250,000 30-year mortgage at 6.5% interest: -$1,580 a month payment -Total interest paid of $320,000. |