Telluride Real Estate Update Summer 2012

March 17, 2012 Blog



2012 Summer Festivals in Telluride

 dandelions valley floorMountainFilm – May 25-28, 2012

The Telluride Mountainfilm festival began in 1979. It has evolved over the intervening decades to embrace a much wider and more diverse audience and our programming now stretches to the leading edges of contemporary social, cultural and environmental issues.

 Bluegrass – June 21-24, 2012

Performers say there is a unique thrill to performing in front of the smartest, most attentive audience in the country. Artists are encouraged to take risks in Telluride, and the Festivarian audience is regularly rewarded with unique blends of voices sharing the stage for the first time – as a new musical friendship cultivated backstage makes its debut on the Telluride stage.


Thursday, June 21: Alison Krauss & Union Station featuring Jerry Douglas, John Prine, Laura Marling, Thelma & Louise featuring Chris Thile & Béla Fleck, Greensky Bluegrass, Dan Mangan, Della Mae

Friday, June 22: John Fogerty, Leftover Salmon, Del McCoury Band, Béla Fleck & the Marcus Roberts Trio, Peter Rowan Bluegrass Band, Edgar Meyer & Mike Marshall, Joy Kills Sorrow, Head for the Hills

Saturday, June 23: Sam Bush Band, k.d. lang & the Siss Boom Bang, Bruce Hornsby & the Noisemakers, Yonder Mountain String Band, Jerry Douglas featuring Omar Hakim & Viktor Krauss, The Devil Makes Three, Run Boy Run

Sunday, June 24: Telluride House Band featuring Sam Bush, Béla Fleck, Jerry Douglas, Edgar Meyer, Bryan Sutton & Stuart Duncan, Glen Hansard, Punch Brothers, O’Brien Party of Seven, and several more early-day sets still to be announced…

 Wine Festival – June 27-July 1, 2012

 Celebrated chefs and wineries come to Telluride every year to show off their products and talents. You can also participate in luncheons, wine tasting and cooking classes. Apart from 4 days of these events, there are also two nights of amazing musical acts in Town Park.



Yogaffall Festival – July 12-15, 2012
In the summer of 2007, in abeautiful little mountain town in Colorado an inspired Jivamukti Yoga Instructor, Aubrey Hackman had a vision. Her vision was to create a Yoga event in the magnificent setting in which she was so fortunate to call home. But her vision went beyond the physical yoga experience. Having just returned from training with her teachers Sharon Gannon and David Life, whose strong message of vegetarianism and environmentalism rings through all of their yoga teachings, Aubrey was inspired to create an event that would not only provide yoga students of all levels an enriching experience but also offer them the opportunity to have a positive impact on the world.

 phJazz Festival – August 3-5, 2012

More than a festival, Telluride Jazz Celebration, is a musical experience surrounded in beauty and alive with character. The Telluride Jazz Celebration has consistently earned national and international favor for featuring the best in classic, mainstream, blues, African and Latin jazz music, and this year will be no exception.

  Telluride Film Festival – August 31-September 3, 2012

The prestigious Telluride Film Festival ranks among the world’s best film festivals and is an annual gathering of cinema enthusiasts, filmmakers, critics and industry insiders. Telluride Film Festival, nestled in the beautiful mountain town of Telluride, Colorado, is a four-day international educational event celebrating the art of film. The Festival’s long-standing commitment is to join filmmakers and film connoisseurs together to experience great cinema.

Blues Blues & Brews – September 14-16, 2012

The Telluride Blues & Brews Festivaltakes place in Telluride Town Park, a renowned outdoor music venue with breath-taking mountain peaks for a backdrop. At the heart of our venue is the Fred Shellman Memorial Stage, a small, humble wooden stage that has held the weight of legends over the years. When B.B. King performed here in 2004, he sat


on this same stage, looked out at the mountains before him, and told the crowd, “Out of the 90 different countries I’ve been to, I’ve never seen anything more beautiful than what you have here.” It’s not the altitude that’ll take your breath away. It’s the views.



Luxury markets heat up across U.S.


This year, buyers in the luxury home segments across the country responded to these real estate opportunities by recording an impressive number of notable sales many of which were recently completed.


Is Real Estate Finally on the Rebound?
TIME TO BUY? – With foreclosure numbers dropping and sales increasing, there are indications that the worst real estate market conditions are behind us, and in some areas, prices are beginning to stabilize.
WESTERN SAN JUANS – With indications that real estate markets in the region have started to improve, albeit slowly, and with a general feeling among members of the real estate community that the worst market conditions of the Great Recession are behind us, the million dollar question isn’t “if” any longer but rather, “how long will the recovery take?”
In the four Western Slope counties of Delta, Montrose, Ouray, and San Miguel the overall number of real estate transactions in 2011 are trending in a positive direction, but the lingering effects of foreclosures and short sales are still leaving a mark on the overall dollar volume those sales represent. In some cases, notably in Mountain Village, values are still down significantly.
Few real estate professionals interviewed this week were willing to say that a full-on recovery of the region’s real estate market is imminent, but there is a general sense that things are getting better.
“I think there is an indication that we’ve turned the corner,” Comparable Sales Research owner Lynn Vogel said. Since 1991, Vogel has provided reports on housing, land and commercial real estate data in Montrose, Delta and Ouray counties. “I hope we continue to stabilize and continue to move the foreclosures out, and then we can start gaining that equity back. I think it’s a start.”
Mountain Village Playing By Its Own Rules
With the number of foreclosures declining in San Miguel County at the same time there is a growing number of sales, it would seem that the dollar value of those sales, despite being down slightly, is stabilizing somewhat. That is, until you look more closely at Mountain Village.
Real estate figures provided by Telluride Consulting owner Judi Kiernan show that 2011 was up from 2010. Overall transactions across the county jumped from 327 in 2010 to 383 in 2010, marking a 17 percent increase. The number of foreclosures is also trending positively, dropping from 108 in 2010 to 100 in 2011.
Despite the increase in sales, the dollar volume of sales in San Miguel County dropped 22 percent in 2011. But when you look more closely at the figures, the dollar volume of sales in the Town of Telluride and unincorporated San Miguel County is only slightly down, by seven and five percent, respectively.
The explanation is a whopping 40 percent drop in the dollar volume of sales in Mountain Village, despite 22 percent more transactions, dramatically skewing the county’s overall figures.
“Mountain Village represents a lot of dollars and if they are not selling, San Miguel County is going to be down,” Kiernan said. “Mountain Village kind of plays by its own rules because they are not subject to the same pressures other sellers have. I am not saying there aren’t foreclosures and short sales up there, but there are a lot of people who don’t have the motivation to sell at current market values.”
Telluride-based Prospect Realty, Inc. owner/broker Todd Creel agreed there is a lot of inventory in Mountain Village, but, he noted, properties are selling. Comparing Mountain Village to Telluride is hard to do, he said, because they are so different.
“There is a lot of condo inventory that has to be absorbed in Mountain Village,” Creel said. “The Town of Telluride is a market unto itself. There are a finite number of properties that are in consistent demand and it seems to be pretty stable. Overall sales numbers are still slow but people are buying up the bank sales.”
When talking with property owners looking to sell, Creel said he’s very candid with prospective clients, telling them that if they need to sell within the next three to six months, they have to price their property “realistically.” If they can hold onto a property for another year or two, he tells them to wait, because the value will be better at some point in that time.
“Many people can wait, and if they can, I would advise them to wait,” he said. “There is no chance we are going lower. The question is, What will the rate of recovery be? A lot of that will depend on overall national confidence. I know people are waiting on the sidelines to jump back in.”
Read more:

Watch Newspapers – Is Real Estate Finally on the Rebound

Telluride Colorado voted in the top 25 resort ~ “National Geographic”

Best For: Big-lunged skiers and boarders with a taste for fine wine and the mountain high life.

 Photograph by Tony Demin, Corbis

Remote and unrelentingly beautiful, Telluride may be the most picturesque ski town in North America, a Victorian-era silver-mining hamlet set deep in a box canyon in the San Juan Mountains of southwest Colorado The steep runs of Telluride Ski Resort spill right into the edge of the town’s National Historic District, where a gondola whisks skiers back up into the area’s almost 4,000 vertical feet of absurdly scenic skiing. Only 12 blocks long and with no stoplights, neon signs, or billboards, this charming town of 2,325 people combines fine wine lists and funky bars with a spirited culture of diehard mountain lovers. The town sits at a gasping 8,793 feet above sea level, and lifts reach to over 12,500 feet, so come prepared to acclimatize.

For a mountain with a well-earned reputation for steeps and bumps, Telluride in fact offers excellent cruisers and beginner terrain-in the kind of high-alpine setting that makes even first-timers feel like heroes-on the slopes around its modern, luxurious Mountain Village. Experts will find bumps, bowls, and chutes in every corner of the resort, and those willing to hike can access some of the most extreme in-bounds terrain in the country in Black Iron Bowl and 13,251-foot Palmyra Peak. Heli-skiing can be hired in the Mountain Village, and the San Juan Hut System offers shelters and multiday routes for backcountry adventurers.

ADAM BLACK-Telluride Properties
with over 10 years of experience in the Telluride Real Estate Market
237 South Oak Street

Telluride, Colorado 81435
Cell Phone: 970-729-0568
In This Issue
Luxury markets heat up across U.S
Telluride Real Estate on the REBOUND
Telluride voted in National Geographic
Foreclosure List
Adam’s recent sales

 Telluride Rated #1 Resort

o   1. Telluride, CO


2. Aspen / Snowmass, CO

o   3. Big Sky, MT

o   4. Breckenridge, CO

o   5. Deer Valley, UT     View All


Adam Black
Telluride Properties
Long time local with over 10 years of experience in the
Telluride Real Estate Market
Phone: 970-729-0568
Follow me on TwitterLike me on FacebookView my profile on LinkedIn 


Updated San Miguel County Foreclosure List (foreclosures represent less than 1/10 of 1 percent in our county):
Call if you need help deciphering the list

Jan 1 – Feb 17 Closed Transactions


 (7 Fractions not included)

New Under Contract Properties in the Telluride MLS:



Adam’s Recent Sales
MLS #27581 Sold    Price: $198,000Very nice 2 bedroom townhome being sold ”as is”. Close to lift 1 and 10 


$1,399,000 – Element 52

A unique, easy ski-in/ski-out location on the San Miguel River in the historic town of Telluride with private ski lift and the luxurious amenities of Element 52 including on-site management by Auberge Resorts and convenient heated parking. The spacious penthouse residence offers several distinct living spaces including three large bedrooms each with their own bath, a separate dining room, open kitchen with stainless steel appliances, family room, mud room, powder room and two large decks with views of the stunning Box Canyon. The Element 52 complex features heated, stone soaking pools, workout facilities, private owners’ spa, lobby/bar area, private concierge service, ski valet and private funicular railway.


$1,875,000 –  4-bed 4-bath, fully furnished home 


 Never before on the market, this elegantly appointed, 4-bed 4-bath, fully furnished home affords unobstructed views of the Sneffels and Wilson Ranges. Located in the sunny Adams Ranch subdivision with private tennis courts, this attractively designed timber frame home with contemporary alpine lines enjoys close proximity to the Mountain Village Golf Course and Nordic track. One of the best values in Mountain Village today!



$6,995,000 – Private ski-in/ski-out parcel

129 Sundance Lane – Located on a private situated ski-in/ski-out parcel, along the groomed Sundance Ski Trail, this custom-built family home features the timeless ambiance of a mountain lodge, with the sophisticated features of the finest residences. The large open floor plan is ideally-suited for relaxed entertaining, while the gourmet kitchen is perfect for the vacationing gourmet. Large spacious rooms and private guest suites are perfect for friends and generations of family in both winter & summer. Seamless ski access to the back door; covered porches and open patio & deck areas bring the alpine setting close to home; expansive recreation room with wet bar and adjacent bunk room is perfect for family fun.



$135,000 – Ski Studio (bank owned)


Being sold ”as is”. Very nice unit. Could be combined with 20B for a larger unit. Close to gondola, ski lift, retail and restaurants. Freddie Mac first look initative thru August 8,2011 for first time homebuyers and 2nd homeowners that use the unit for their personal residence.


$1,235,000 – Cassidy Ridge, New Condos
(Listing broker is representing that the first buyers will get pricing in the $400/sq ft range, which is an extremely low price for this quality of condos. Think of this unit in the $700K range!!!) One level flat. All units include access privileges covering all unit occupants at the nearby Peaks Resort & Spa. Privileges include access to the following: exercise facilities, pools, tennis courts, paddle ball courts, spa, salon, many restaurants, concierge services, golf, VIP transportation via private car, Ski-in/ski-out/ski valet. Cassidy Ridge towers over the Mountain Village with jaw dropping views of ski area/mountains/down valley sunsets. This project is now 100% complete!

211 Benchmark Drive 

$1,495,000 – Most affordable ski home

Take advantage of the most affordable ski accessible home in the Mountain Village! Buy it right and transform this home into your ultimate mountain retreat. With just a basic interior facelift, this home has enormous potential. It offers the size, layout, sun, views, pricing and close ski proximity to make it a complete package. Please give this property the chance it deserves! The home also features a large well-appointed kitchen, spacious and open floor plan, high ceilings and 2-story windows in the Great Room, expansive decks and patios, and walking distance to the Bridges Ski Run.



$499,000 – Telluride Lodge


If you like to cook and want easy slope-side access, this condo is for you. Beautifully redone and move-in ready, this 1,239 sf condo has a great layout with large bedrooms and remodeled bathrooms. The condo has been updated with radiant heat, and has two private entrances from your own patio and terrace. Great sunset views from the living room and outdoor spaces. Telluride Lodge just re-did their whole hot tub building and has a full time maintenance person to help you with any of your needs. This unit has a unique location that is a must see.


910 E Columbia Ave
 $639,000 – Telluride’s East End

Beautiful and well maintained residence on Telluride’s East End. Natural light flows through the three levels. Private master bedroom on the upper level. Main level of kitchen, living and dining rooms feature a nice deck with Bear Creek views. Close to Town Park, the San Miguel River and hiking and biking trails. Expansion potential!


$369,000 – Ideal ski condo

 BRING US AN OFFER! Located in the Mountain Village Core, only steps to the Telluride Ski Resort, golf course, restaurants, Peaks Spa and Gondola to Telluride, the convenience is unmatched. Enjoy huge protected mountain views of the ski resort and Palmyra Peak, from high up on the 4th floor. The spacious 814 square foot, 1 bedroom condominium is being offered fully and nicely furnished, including a deeded parking space, private storage closet & personal ski locker in the lobby entrance. Palmyra 4G is a great rental revenue producer in a highly sought after complex. This is the ideal ski condo and the ONLY Palmyra currently on the market.

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