In the last few months there have been several properties sold at incredible values throughout the ski resorts of Colorado.
Although it is true that Colorado ski real estate has not been hit as hard economically as many other parts of the country;
there are pockets of opportunities. Now may be the perfect time to make your dream of owning a ski condo in Breckenridge,
Keystone, Vail, Crested Butte or even Telluride become a reality.
Although prices throughout the Colorado ski resort real estate markets are holding steady, there are definitely pockets
where really good values can be found and every now and then a "Must Sell" circumstance pops up. The trick is to be the
first one to find the "must sell" circumstance and be ready to take action.
The best way to find your Colorado ski deal is to determine what resort you are interested in, specifically determine the
location, amenities, type and size ski condo you want, make arrangements for your financing, if necessary, and then "lie in
wait". You cannot expect a multitude of good deal properties to come on the market and wait for you to discover them by
yourself. You won't find huge lists of foreclosure properties in the ski areas of Colorado. You will need to work closely with a
Realtor who is keeping a close eye on the market, with your preferences in mind. Preferably, you want to develop a
relationship with one Realtor who will call you first when they sniff out a "must sell" circumstance. Then it is up to you to be
prepared, make quick decisions and "pounce" to capture your "desired prey".
I never thought I would see the day of million dollar price reductions and the words "all reasonable offers will be
contemplated" on some of the finest homes in Aspen, Steamboat Springs, Vail, Breckenridge and Telluride. It is definitely a
buyer's market and the supply is much larger than the demand. However, you must keep in mind that one of the main
differences between the real estate market in the major ski resorts of Colorado and other parts of the country, is that many
of the Sellers do not need to sell. Plain and simple, they can wait out these challenging economic times, until the market
once again shifts into a seller's market and they are in the driver's seat.
Opportunities are not lurking around every corner and foreclosures are not abundant. You will however, be able to choose
from some of the best properties in the ski resort community. There is a much large inventory than we have seen for many
years, with properties located in some of the best areas – close to the slopes and activities. Your good deal may be to find
one of the best properties in the ski resort "available for sale". Those of you who have looked at property for sale in ski
resorts will understand what I am saying. During the past 10+ years, it has been difficult, if not impossible, to find a property
for sale in one of the most desirable areas of any Colorado ski resort. When I say one of the most desirable properties, I
mean, ski-in ski-out, pristine views, close to town and activities yet secluded and surrounded by nature. Some of these
dream ski properties are currently available.
The time is right for good deals in the mountains of Colorado. Whether you want to take advantage of the opportunity of
buying a highly desirable, rarely available ski condo for market rate (normally sold for 15%-25% above market, if they can be
found) or become an educated, agile hunter, who is willing to patiently wait until the moment is right to spring into action on
a "must sell" opportunity; now is one of the best times to invest in Colorado ski real estate.
Updated March 13, 2009 - an article written by Karen Barrocas
COLORADO SKI REAL ESTATE - Caring for the Buyer's Best Interest!
Karen Barrocas Broker Associate
RE/MAX Alliance on Walnut