Trish Giassa, Crested Butte, Colorado. RSPS

Sotheby's Realty Retreat in Colorado

I attended the Sotheby's Rocky Mountain Real Estate Retreat organized by Fuller Sotheby's International Realty last week. What a wonderful, information-packed event! The networking was phenomenal too! Many thanks to Scott Webber, Shannel and all the sponsors that made it possible.

Our presenters were well-organized and provided great content. For example:

• Wendy Purvey of Sotheby's International gave us the rundown, at a running pace, of the amazing world-wide reach of the marketing that Sotheby's does to attract buyers and sellers to sothebysrealty.com, with a media schedule that includes Architectural Digest. And an exclusive affiliation with the Wall Street Journal that reaches some of the highest net worth individuals in the world.

Phil White, COO of Sothebys' International spoke about the market forecast and how Sotheby's International is growing around the world with top notch affiliations from a local and global perspective

• Neil Lyon with Sotheby's in Santa Fe, NM reviewed how to best utilize the quality tools and benefits of being part of the Sotheby's organization to gain market share in a difficult market.
• Gene Northup from Dyson & Dyson Sotheby's in Las Vegas shared what is helping him and his group lead the high end market successfully in Las Vegas and how he utilizes our global distribution system to fulfill higher expectations

We talked about how to more accurately price homes & properties when we're dealing with a moving target and how to use our global reach to market mountain resort homes.

Personally, this event was a great networking opportunity to share what's new in Crested Butte, promote our homes for sale in Crested Butte. Crested Butte is not as well known as Aspen or Vail but worth the trip.

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Crested Butte Real Estate Market Update & Information

Alas, Summer is over in Crested Butte and we've managed to do a good bit of catch-up on the real estate sales end. The first few months of the year were dismal in sales, but recent months have been stronger d showing some remarkable sales which show that there are buyers understanding value, both in real estate and lifestyle.
Of the 22 closed sales in the month of September for a total of $11,951,600. Here is an overview and some highlights:

...2 sales in CB South: 99 Cascadilla with nearly 2000 sq ft of living space and garage sold for $325,000. A mere $172/sf! and 123 Huckeby, single family with over 2000 sf sold for $154/sf or $330,000. This was a bank-owned home and an amazing deal!
... 5 condos and homes sold in town of Crested Butte: Of note, 2 of the 5 went for over $1 million. 500 Butte sold in less than 60 days for $1.2 million and 418 Third sold for $1,195,000
11 sales in Mt CB
... Including two Pitchfork homes in Mount Crested Butte. 102 Pitchfork, 2 bedroom/2 bath sold asa short sale for $225,000 and 102 Horseshoe with 3 bedrooms/2 baths sold for $450,000
... Two Plaza condos in Mount Crested Butte. A two bedroom for only $278,000 and a 3 bedroom condo traded for $360,000. This is a great complex, short walk to lifts
... Another condo at Mountaineer Square at the base village of Mt Crested Butte sold with nearly 900 sf at only $450/sf was a steal for this lucky buyer.
... a mountain cabin masterpiece in Overlook also in Mt Crested Butte - 5100 sf new luxury home on one acre, just sold for $2,872,500
... The little mountain cabin on just over 2.5 acres on Gothic Road sold for $260,000 - this will make a great close-in get-away!

Last year for the month of September a slightly lower number of real estate home sales in Crested Butte(20 in 2008 vs 23 in 2009) for a total of nearly $13 million in 2008, vs nearly $12 million in September 2009. The reality is that although we are maintaining the 2008 volume, prices have come down ... by about 25% from 2008 to 2009.
Yet, the sky is not falling. 25% may seem like a lot, but it must be related to the meteoric rise in prices in the preceding years. Yes, this is an adjustment and not a welcome one ... unless you are a buyer. The smart money knows that over the long term real estate is the very best value for your money - and, you get to enjoy it!
Are we at the bottom of the market? I don't have that crystal ball, but, if we are not, we are close. Also, noting that sales prices are coming in at under 90% of asking on average, the bottom is very possibly being made.
If there is something special you've been thinking about, let me find it for you. There are superb properties coming available every week, at really good prices. Let me tell you when the one you've been dreaming about comes available - before it's snapped up by someone else. I watch the market daily and can be watching it for you!

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Fall Foliage Crested Butte Colorado. Yesterday we were heading out Kebler Pass to enjoy the single largest aspen grove anywhere in the world but decided to detour onto Ohio Creek Road since we had never been on it before.

Add Ohio Creek (connects from just outside Gunnison to just after the Irwin turn off on Kebler Pass Road) to the 6 Places to Find Fall Foliage in Colorado.

This narrow dirt road is smooth enough to travel without 4 wheel drive, with little or no traffic, offered stunning vistas with lots of spots of intense color, views of Castle Rock and stunning valleys. Ohio Creek is close enough to Crested Butte to give you ample time to enjoy a fantastic dinner in our historic town after you enjoy your visual feast.

Folks, the leaves are beginning to peak. This coming week to 10 days will be the best at this altitude. Save the lower altitudes for later and come on up to Crested Butte. Here are some more photos...

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Crested Butte Harvest Festival Vinotok this Weekend. Already today, as I sat outside Pitas in Paradise at lunch time there were various characters walking around in costume in anticipation of the festivities which have already begun. I missed Story Telling and Liar's Night but will definitely be on hand for the burning of the Grump.

Burning the Grump, along with everyone's grumps and complaints which have been collected in several boxes about town will cleanse us of any "bad" or unwanted feelings and start the season off fresh, ready for fall and a winter full of skiing.

Crested Butte is a whimsical, friendly community with lots of unique celebrations that are embraced by the community. Vinotok, I have heard, is a throwback to the Croatian Fall Festival, which is where many of the old timers came from.

Although my father was also born in Croatia, I, unfortunately, do not have much experience with things Croatian, since my father left home when he was merely 13 and moved to the Italian mainland before coming to the United States. Still, it makes me very happy to be ensconced in a community with the same roots as mine. I look forward to Vinotok in Crested Butte and hope to see you there!

These great photos are courtesy of the Gunnison-Crested Butte Tourism Association.

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Crested Butte Harvest Festival Vinotok this Weekend

The Colorado Grand is in Crested Butte, Colorado, tonight .... on its way from Vail and off to Breckenridge tomorrow.

So what is possibly better than driving a great sports car on twisty roads with fantastic views?
How about driving great sports cars (and old race cars) on twisty roads with great views and a police escort! Never have to worry about speed traps, that's for sure!

So the Colorado Grand left Vail today for a 1000 mile tour of Colorado and stopped today in our little town of Crested Butte on its route around the stunning mountain roads of Colorado.

85 entries of pre-1961 vintage sports cars and sports racers including a 1960 Ferarri 250 Testa Rossa, two Mercedes-Benz 300SL gullwings, a Bugatti type 57 and type 35 grand prix race car along with 80 other spectacular vehicles.

So, come visit us in Crested Butte ... the scenery is awesome and you never know what you might see, and enjoy the ride!

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