November 2004 |
| Breckenridge
News Summit High graduate and 17 year old Breckenridge local Kate Chapman recently won the XTERRA USA Off-Road Triathlon held in Lake Tahoe. The win qualifies her for the national championship on Oct. 24. Chapman finished the course; .93-mile swim, 21.7-mile mountain bike and 6.2-mile trail run, in 3 hours-56 minutes. She was nearly 17 minutes ahead of second place. The Chevrolet US Snowboard Grand Prix will be coming to Breckenridge at least this year and next. The competition is one of the premier snowboard competitions and is a qualifier for the 2006 Olympic team. The event will be held on Peak 8 December 18-20th and will be broadcast on NBC. In addition to having a number of the top riders call Breckenridge home, our mountain is always among the top-rated for its half-pipes and terrain parks. Hosting these types of events also keeps us at the forefront of the sport. As a result of a number of recent errors, the Breckenridge Historic Preservation Committee is looking at a way to certify contractors to do restoration work on historic buildings in town. Although just in the concept stage, a contractor would need to be able to recognize original materials, understand the period’s architecture and be willing to research the history of the property. Locals have long known the value of our historic district so this type of protection is long overdue. Results from an independent survey commissioned by the Breckenridge Resort Chamber showed winter tourists ranked Breckenridge's friendly atmosphere the resort's No. 1 asset. The survey also showed Breckenridge tourists are getting older, participating in more activities than just skiing and are shopping and dining out more. More information on everything going on this summer is at: http://thealtitudenews.com/Schedule.html, as well as: http://www.bestoftherockies.com. |
| SNOW
NEWS… IS HERE ! The last day of summer brought heavy, wet snow to the state, with about six inches in Breckenridge, nearly 17 inches of snow recorded northeast of Steamboat Springs and a foot on Rabbit Ears Pass. The overall statewide average of water stored in reservoirs through August was 78%, a 107% increase over last year at this time, according to the Natural Resources Conservation Service. Climate experts indicate a mild El Niño is developing in the Pacific Ocean, meaning there is potential for a normal or wet year. The cold weather brought snowmaking to Summit County ski areas, with Arapahoe Basin and Copper Mountain firing up their snowmaking guns on September 23 rd and Loveland Ski Area began snowmaking that Friday. A-Basin and Loveland are in their annual battle to open first, with A-Basin working for an Oct. 22 opening. Planned opening dates for the 2004/2005 season: ~Breckenridge; November 12th ~Keystone; November 12th ~Vail; November 19th ~Beaver Creek; November 20th Results of this year’s Ski Magazine readers’ poll, Top Resorts in North America: 1.Vail 2.Deer Valley, UT 3. Snowmass 4. Beaver Creek 5. Whistler/Blackcomb, BC 6. BRECKENRIDGE The FIS Alpine World Cup will return to Aspen in November, with women's slalom and giant slalom races on Aspen Mountain Thanksgiving weekend, Nov. 26 to Nov. 28. The return of World Cup races to Aspen after a year's absence means a full week of World Cup racing with the Aspen races followed by men's super G, downhill, giant slalom and slalom in Beaver Creek Nov. 30 to Dec. 5. For information on the Beaver Creek World Cup Schedule: http://www.Snow.com. |
| WHY
I LIVE HERE… The town of Breckenridge and Summit County open space officials have delayed the closing date of the $9 million purchase of B&B Mines' 1,842 acres until Oct. 28 to allow completion of a consent decree to limit town and county's liability on the mine-contaminated land. The cleanup is expected to be in the $4 million price range and the town and county are willing to pick up the tab. However, they have to have a limit on their liability in order to avoid shouldering possibly unlimited hidden costs. The mine has been abandoned and has been dumping heavy metals into French Creek for a century and a half. The purchase would be the biggest open space purchase in local history. The property is also being looked at as the number one choice for a new hut in the Summit Huts system. The town of Vail is testing a new, 40-foot-low-floor transit bus on various in-town routes to determine if the hybrid bus can operate economically, effectively and reliably in Vail. The hybrid uses a combination of electricity and diesel, increasing fuel economy up to 60% and reducing emissions . |
| SCHOOL
NEWS… Colorado Mountain College, Summit Campus, has outlined its new three-year master plan. The main goals include: 1-Increasing student satisfaction through feed back and improved degree programs, 2-Increased access to scholarships, 3-Develop and implement a life-long learning program, 4-Develop and strengthen new and existing programs, 5-Consolidating the campus by either building a new facility or upgrading an existing one. The CMC community college is a huge resource here, providing young adults a jump start to their four year degree, giving adults a chance to embark on a new career and offering two year degrees that take you right into the work force. The Summit School District will place two issues on the November ballot, one for a $32 million bond issue, primarily for a major renovation of the Summit Middle School, and the second for continuation of a three-year mill levy that will generate about $4 million a year. Polls show promise for the passage of the measures. Also on the menu are improvements to Frisco elementary, improved maintenance and technology throughout, as well as expanding the libraries. Plans are also in the works for the construction of a vocational training center at the high school. The current vocational training has been a rousing success and feedback says there is a big demand to expand these programs. Lately the measure of success for schools is the standardized tests and Summit schools excel at these. Across the board at all grade levels and in all three areas of math, reading and writing we score above the state average. Summit high school students also consistently score above the state average on the ACT college admission test. The Summit Middle School this year has expanded its International Baccalaureate program to the entire school. The Geneva, Switzerland based organization has officially approved the local program. According to its literature, the IB students are taught to be active learners, well-rounded individuals and engaged citizens, who gain practical experience to be part of an international community. More information on the program can be found at: http://www.ibo.org. |
| TRAVEL
TIPS… COLORS COME AND COLORS GO… For an experience of a lifetime consider a visit to one of the Summit Huts this winter. You will need X-C skis or snowshoes because the huts are snowbound. Over the years The Summit Huts Association has faced declining membership and an annual operating deficit. Now, through the work of a new board and staff, they have increased membership by 60%, expanded volunteer programs and added the Backcountry Ball, a fund-raiser set for Oct. 23. Over 125,000 nights are used in the four cabins each year, which is about 80% capacity. The group is looking to add huts within the next three to five years and is also exploring increasing summer usage. Last month myself and about thirty other volunteers helped stock Janet’s Cabin, the only one without any road access. With half the group loading supplies at the road and the other half unloading at the cabin a helicopter was used to shuttle supplies to the cabin for the winter. These included 4 propane tanks, ten cords of firewood, 8-120lb rechargeable batteries for the solar lighting system, as well as sheets and paper supplies. More information can be found at: http://www.summithuts.org WHAT SHOULD YOU TIP? Hotel maid: $2 to $3 a night Bellhop or skycap: $1 to $2 a bag Concierge: $5 to $10 for exceptional service; $20 for scarce tickets Parking valet: $1 if there is a valet in charge Massage therapists: 15% to 20% Cruise cabin steward: $3 to $4 a person a day Happy trails. Contact me if you need further tips on where to stay, eat or play. |
| INVESTMENT
OPPORTUNITIES Vail Resorts posted the best financial results in its 42-year history, with total revenue of $721.9 million and showed a profit in all three of the company's divisions, a "terrifically successful year," according to CEO Adam Aron. The company reported a net loss of $6 million, but without one-time charges of $37 million in debt refinance charges and $5 million for mold remediation, the fiscal 2004 would have posted a $20.4 million profit. Intrawest, the Canadian-based resort giant that owns Copper Mountain and Winter Park, reported net income for its fiscal year that ended in June of $60 million, almost double the $34 million in 2003. The company reported $1.5 billion in revenue, up from $1.1 billion last year, even though there were 300,000 fewer skier visits in its 11 North American resorts. More than 9.5 million passengers boarded planes at Denver International Airport in the first six months of 2004, up 16.7% from the same period a year ago, and the numbers boosted DIA past Phoenix Sky Harbor International Airport into the No. 5 slot in the U.S. for domestic travel. In June and July 2004, there were 8,300 more passengers using the Eagle County Regional Airport than the corresponding months in 2003. The passenger count through July is 154,000, compared with 140,500 passengers for the same period a year ago, a 9.6% increase. Statewide retail sales in Colorado totaled $53.5 billion in the first six months of the year, up 7.2% from the $49.9 billion for the same period a year ago. S tate revenues at the end of the fiscal year, June 30, stood at $5.69 billion, 5% higher than in fiscal year 2002-2003 and $130 million more than originally forecast a year ago . The $4.7 billion plan to build high-speed rail lines and expand bus service in the Denver area would add 6,200 jobs a year and boost the Denver-area economy. The FasTracks program is on the Nov. 2 ballot with a proposed increase in the transit sales tax. The University of Colorado received more research money from the National Aeronautics and Space Administration last year than any other public university and only the California Institute of Technology, Johns Hopkins and Stanford received more than CU. A new study commissioned by the Colorado Division of Wildlife, "Economic Impacts of Hunting, Fishing and Wildlife Watching in Colorado," reports hunting and fishing contributed $1.5 billion to the state's economy in 2002. Colorado Ski Country USA statistics show the economic impact of the state's ski industry is: employment of 30,890 workers, about 14% of all tourism employment in the state; generation of $2 billion to $2.5 billion in revenues, more than gaming, cultural-related events in Denver and commercial river-rafting combined. What has all this got to do with mountain real estate? Contact me and we can discuss things. |
MARKET
CONDITIONS REPORT Colorado ski areas, ranked by skier visits in 2003-2004: 1. Vail Mountain 1,555,513 2. Breckenridge Ski Resort 1,402,055 3. Steamboat Ski & Resort Corp. 1,002,821 4. Winter Park Resort 955,615 5. Keystone Resort 944,433 In 2002-2003; 1. Vail Mountain ....................1,611,000 2. Breckenridge Ski Resort.... 1,423,000 3. Copper Mountain Resort.... 1,058,016 4. Keystone Resort ...............1,039,000 5. Steamboat Ski & Resort ...1,001,020 Demand for Rocky Mountain real estate is gathering momentum quickly. Sales of real estate in Summit County, according to statistics compiled by the Summit Association of Realtors, for the first six months of 2004 showed there were nearly 1,000 units sold for a total of $339.5 million, compared to $217 million for the same period in 2003. The average selling price was $351,400. Real estate sales in Eagle County in August reached record levels again, with $204 million recorded on 324 transactions. August was the 13th consecutive month with sales exceeding totals from a year earlier. Year-to-date sales through August totaled $1.28 billion, on track to break the record of $1.7 billion set in 2000. Crested Butte area real estate sales are booming with 2004 home sales already the highest ever. Don’t wait ‘till rates and prices go up further; Contact Me Today! |