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Welcome
to my monthly newsletter, usually published by the first business
day of each month, featuring Breckenridge, Colorado News and
Events plus other Rocky Mountain News. Here you will find
information about our Summit County schools, government, skiing
and summer activities. There is information on ski homes,
golf homes, lake front properties and mountain homes from resort
to remote. You will also find out about real estate news trends
and tips. Mostly you will find good news about this fantastic
community and you will learn that it's not just the scenery
that makes it a great lifestyle, it's the people. |
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Twin Lakes is a beautiful as it gets.
Come on up and catch some rays, some fish or just enjoy the
beauty. More info at:
rockymountaindreamhome.com
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As the weather warms
I start getting my juices up about all the summer activities.
One of my favorites is an old fashioned rodeo. Check out:
Best
of The Rockies.com
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Artwork
abounds on every street corner in the Rockies. That's really
a statue not a girl with a face full of snow. That's my job.
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Where else but Colorado do you find
a sky this color. I marvel every day at its intensity.
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Breckenridge,
GENUINE ROCKY MOUNTAIN NEWS |
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Through
the end of January Vail Resorts is having a record year.
In its second fiscal quarter ending January 31 they
had recorded an increase of 7.9% more skiers, and a
revenue increase of 8.4% to a record $43 million for
the quarter. All this money flowing in encouraged the
company to announce $80 million will be spent in upkeep
and new projects next year. Among those is Breckenridge
Ski Area has begin construction of the long awaited
gondola to take skiers from town to Peaks 7 & 8.
Improvements to the snow making systems will also be
made at all four Colorado resorts. Additionally the
company will spend about $180 million on real estate
capital improvements including Breckenridge with the
development at Peaks 7 & 8 base areas and phase
two of the Mountain Thunder Lodge. PS-Breckenridge sales
tax collections were up nearly ten percent through the
end of January also.
Speaking of Peak 7 some firm plans for the development
were announced last month. Grand Timber will build a
96-unit condotel to be sold as time-shares that will
anchor the Peak 7 base including 2300 square feet of
commercial space and 6600 square feet of skier service
facilities. Vail Resorts will compliment this by building
a 45-unit lodge of whole ownership condos with 2500
square feet of skier services. Construction has already
begun on roads and utilities; completion of the first
units will be for Christmas of ’08.
Don’t quit thinking snow yet! April is a great
time for one last ski fling. We have great rates on
lodging, fantastic deals at the local restaurants, incredible
snow, sunshine and a tremendous line up of events. It’s
called the Spring Massive and it is. We have the bite
of Breckenridge, the Shop Breckenridge, rail jams, celebrity
ski races, the Imperial Challenge, concerts etc!
Go to: http://thealtitudenews.com/Schedule.html
More
good info can be found at:
http://www.BestoftheRockies.com |
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WHY
I LIVE HERE…
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| More than 1400
snowshoers showed up at the Frisco Nordic Center March
11th for the 4thAnnual Tubbs Romp to Stomp Out Breast
Cancer. More than $50,000 was raised for the Susan G.
Komen Breast Cancer Foundation. What a nice way to make
a stroll in the woods even more beneficial.
March 25th saw one hundred cross country skiers show
up at the Breckenridge Nordic Center to raise money
for the Breckenridge Outdoor Education Center. If you
are not familiar the BOEC is one of our favorite local
non-profits that trains handicapped people in outdoor
skills; www.BOEC.org.
The skiing event has been dubbed the Breckebeiner and
they raised $26,000.
On March 30th Freda Neiters turned 75. Unlike many
her age she was not only outdoors to celebrate but also
skiing nonetheless. To top it off Freda skied 78,000
vertical feet in ten hours and raised $8000 for research
into Sudden Infant Death Syndrome. Freda lost a grandson
to SIDS and decided to take action. Freda is an original
member of the Keystone ski school with thirty years
under her belt. Five years ago she skied 70,000 feet
for her 70th birthday to raise money for school scholarships.
Both feats were records for her age group. Retirement,
what’s that?
In the same vein there is a senior couple from Silverthorne
competing against a bunch of kids in the current edition
of CBS’s Amazing Race. Fran is 61 years old and
Barry is 63 years old. They are high school sweethearts
who have traveled to more than 45 countries together
and hope their experience will give them an edge. It
seems like every episode of Survivor has someone from
Colorado on it too. What is it about this state; do
people live in their higher self more here? We don’t
retire here we take it to another level.
Governor Owens signed a bill into law last month that
protects landowners from liability suits from people
crossing their land to access some of Colorado’s
14,000-foot peaks. Landowners were closing off access
to a half a dozen or so peaks because of fear of being
sued. The new law allows the hikers to obtain a permit
to cross in exchange for a waiver of liability if they
hurt themselves.
The Summit Housing Authority, the organization that
spearheads affordable housing in Summit County, has
worked out a new partnership with a number of local
Realtors to help them raise funds. The Realtors who
obtain a listing on a deed restricted home will turn
the listing over to the Housing Authority to sell for
45 days thus allowing the Authority to collect the commission.
The SHA has been on the financial precipice for years
and hopefully this will alleviate some of the pressure.
Ironically locals consistently state in polls that affordable
housing is the number one issue affecting our community
yet they consistently oppose any sort of tax to support
it. (?). |
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SCHOOL
NEWS… |
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Leading his hockey team to an unexpected run to the
Frozen Four, Summit High’s Captain Billy Barto
was named Second Team All-State. Barto, a senior, will
be sorely missed next year as the Tigers attempt to
improve on their best year ever. His teammate, the Tigers
leading scorer, Chase Underbrink got an All-State Honorable
Mention.
Construction will finally begin on two major
projects put on the back burner last fall. An addition
to the high school for a vocational training center
and major renovations to the middle school will begin
soon for completion in 2007. Two new learning centers
and two new gymnasiums will be added to the middle school.
Unfortunately the increasing costs of construction material
means that some of the renovations will be postponed
until more money is found. Similarly the high school
has had to cut back from a 15,000 square foot addition
to about 9400 square feet by eliminating a classroom
and some offices. The new addition will hold culinary
arts programs, medical prep and shops as well as a public
use meeting room.
In a related story the Town of Frisco and the school
district entered into an agreement to construct two
soccer fields, a football field and a youth baseball
field behind the middle school. Frisco will pick up
the tab for the football and baseball fields while the
school will construct the soccer pitches.
The Summit Nordic Club, consisting of mainly Summit
High skiers sent nine members to the Junior Olympics
this year. Three of those finished in the top 12 out
of over 400 competitors. The club is headed by Breckenridge
native and former Olympian Matt Dayton. |
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SNOW
NEWS AND OUTDOORS TIDBITS…
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Intrawest,
owners of Copper Mountain and several other ski resorts,
has hit on a great new idea. They are investigating
the possibility of building five major ski resorts in
China of all places. In 2000 China had only 200,000
skier days, not even a small resort in Colorado. By
2005 that number had grown to 4,000,000. Additionally
they won their first ever Gold Medal at the Torino Olympics
this year so interest is definitely growing. Although
China has over 200 ski resorts, most are single chairlifts
by the side of the road serving beginner terrain. What’ll
they see what Intrawest can build them!
Colorado
got a new ski area last month. Echo Mountain just outside
of Evergreen and a quick trip from Denver finally got
things up and running with a single chair lift and about
35 acres of terrain. It is probably about the world’s
smallest ski area. It is really more of a terrain park
with a lift for snowboarders and freeskiers to perfect
their tricks. There are even lights for some weekend
night riding. The area’s owners hope it will be
popular with the young crowd that wants to make a quick
trip up to get their fix after work or after sleeping
in. About nine people showed up for opening day so we
shall see if it takes off.
In
an effort to keep up Copper Mountain made two announcements
that will up their image. First, Tucker Mountain, hundreds
of acres of awesome expert terrain, accessible now by
hiking and snowcat could have a lift by next season.
This will open up some of the best terrain on an already
fantastic ski mountain. Check back to see how the process
is progressing. Secondly, a Hard Rock Hotel is being
proposed for the Copper Village area. The idea fits
in with the younger target Copper tries to attract and
will give the resort some much-needed entertainment
and after ski excitement it has always lacked.
One
of the best things you can do for your equipment before
putting it in storage is to get a tune up, no kidding.
Why tune when I won’t see it, let alone ride it
for six months? Well, filing the edges, filling the
holes and putting on a fresh coat of wax removes the
rust and protects the base from corrosion and drying
which can make the Ptex brittle and thus more vulnerable
to damage next season. Take care of your equipment and
it will take care of you.
Think
snow, always! |
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*TRAVEL
TIPS…End of Reefs? |
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A
new study just released indicates that Caribbean coral
is dying at a previously unforeseen rate. A combination
of warm waters and disease has killed about one-third
of the coral in monitored areas. Many of these colonies
have been around for a millennium and will not grow
back in your great grandchildren’s lifetimes.
Did
you know that just in fairly recent times twenty-five
percent of the world’s coral reefs have died?
Estimates are that by 2010 forty percent of the earth’s
reefs will be gone. In some places, like the Indian
Ocean, over eighty percent of the reefs have experienced
problems and are in danger. At our current pace Equatorial
reefs will be gone before you and I are done traveling.
The process of global warming and the increase in El
Nino currents are mostly to blame. Additionally, things
like over fishing, dynamiting and siltation from deforestation
are extracting a toll. In the Philippines siltation
caused by deforestation has killed one-third of the
coral. Over-growth of algae also chokes coral. Reduction
of fish populations that feed on the algae and pollution,
which stimulates algae growth, are the culprits here.
The
balance that keeps reefs alive and growing is a delicate
one to be sure. Coral polyps, the individual coral animals,
live in harmony with one-celled partners, zooxanthellae.
Living within the coral’s tissue, the colorful
and plantlike zooxanthellae exchange food for shelter,
they process sunlight to manufacture 95% of the energy
the corals need to survive and build their white limestone
skeletons. When ocean temperatures rise, even slightly,
the zooxanthellae are expelled and the corals lose their
color and their sunscreen. This phenomenon is called
bleaching. Once ocean temperatures return to normal
some bleached corals recover their zooxanthellae, their
color and their health, others die. Many of the surviving
corals will not breed for years after bleaching. Bleached
corals also lose their resistance to diseases such as
black band and white plague. Unstressed corals seem
to be recovering nicely from the ’97 El Nino.
Corals that have additional pressures like siltation
and pollution are not. Since 1996 the Florida Keys National
Marine Sanctuary has lost more than one-third of its
living coral cover.
Coral
has been forming reefs around the world for 200,000,000
years. They provide an unbelievable array of biological
diversity. An acre of reef in Southeast Asia may hold
as many varieties of fish as there are North American
bird species. Estimates say there are as many as 1 to
3 million marine species living in the world’s
reefs, possibly more than the number of species in the
tropical rain forests. The demise of coral triggers
a domino effect as fish that feed or take shelter from
the reefs also decline. Next go are the larger fish
species, then the fishing and tourism economies. The
Great Barrier Reef generates over $1 billion annually
from tourism. One quarter of the fish people consume
in developing nations come from reefs. Worldwide, reefs
are estimated to generate $375 billion to the economy.
This is probably a conservative estimate. Letting them
slip into extinction would be very short sighted indeed.
On
the plus side growing public awareness is translating
into increased conservation efforts. With the recognition
that the problem does not stop at national boarders
the cooperative efforts are spreading worldwide. As
US conservation programs increase, so does assistance
to international programs. Local communities have shown
a willingness to step up when given the information
about the problems and the tools to deal with them.
The cataloguing and sharing of data has also helped.
The Global Coral Reef Monitoring Network, releases bi-annual
reports on the status and threats to the world’s
reefs. The 2004 report focuses closely on the relationship
between human activities and diseases affecting reefs.
To view the 2004 report: The Status of Coral Reefs of
The World, go to www.GCRMN.Org.
For
those who wish to help stop the decline please check
out Project Aware Foundation. They are doing their part
to get the word out. Without greater public participation
the fight is lost already. Go to their site: www.LivingReef.org
to learn more and see how you can help. If you haven’t
yet been to the tropics and snorkeled or SCUBA’ed
on a reef we hope you will help so you will get the
chance to witness the magnificence. If you have visited
a reef I need say no more.
Contact
Me if
you need further tips on where to stay, eat or play.
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INVESTMENT
OPPORTUNITIES… |
| Are
you a passive investor? Do you like to sit back and let
someone else make your financial decisions for you? Beginning
in 2001 that strategy was catastrophic for many. Hard
working Americans across the country watched as their
life’s work was wiped out when mutual funds and
401K’s came crashing down.
Right
now there is $4 TRILLION in IRAS in the US. 97% are in
Wall Street securities. ONLY 1% is in real estate, why?
My guess is that most financial planners don’t tell
you your IRA can purchase and make a profit from the ownership
of real estate. Has yours? A typical financial planner’s
“Balanced Portfolio” pie chart has a mixture
of Large-cap, Equity-cap, bonds, etc. My financial planner
has 41% real estate and 59% securities.
If
your IRA has been wallowing in the 4% doldrums why not
take a look at real estate. Even in slow markets real
property still appreciates and never goes to zero (read
Enron). In Summit County we have seen appreciation average
7-8% over the last 30 years that I have been here. Big
deal you say. Well, there is a bank that will lend your
IRA money to buy real estate at 30% down. Ask your accountant
but by my calculations that makes your appreciation 21-24%!!
Call today and let me get you started toward a secure
retirement. If you are intrigued here are some resources
for more information:
http://irachoices.com/
http://www.guidantfinancial.com/
Things
just keep getting better; Contact
Me Today! |
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MARKET
CONDITIONS & OTHER ROCKY MOUNTAIN NEWS |
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Nationwide existing
home sales in February jumped up 5.2% by units sold; locally
sales were up 6% in dollar volume for both January and
February, and 2005 was an all time record. Some experts
are saying this is an anomaly and not an indication that
the bubble is still intact. The National Association of
Realtors says this is an indication that, while they agree
there will be a slowdown in the housing market, it will
be a soft landing and should remain relatively strong
through 2006. What is this based on? First, homes for
sale inventories are up but nationally we are still at
just a 5.3-month supply, under six months supply is considered
a seller’s market. Secondly the job market is still
very strong. The numbers of new unemployment claims filed
in March indicate a strong labor market. In Colorado we
added 51,500 more jobs in just the first three months
of this year. We rank eighth in the US in per capita income
and income grew 5.1% last year. The unemployment rate
here fell to 4.3% for February compared with 5.2% a year
ago. Nationally the rate is at 4.8% at press time. Additionally,
The S&P 500 had its best quarter since 1999, The NASDAQ
had its best three months since 2000 and the DOW is off
to its best start since 2002. When people are working
they are buying homes.
But what about the real estate crash? It’s not
very likely. In the 37 years the National Association
of Realtors (NAR) has tracked median home prices, not
once was there a decline. And, over the last 37 years,
there have been numerous economic declines. The economic
fundamentals today look strong. The Federal Reserve System
is projecting 6.5% nominal GDP growth for 06. Meanwhile
the median price for a home is $209,000, up 10.6% from
a year ago.
Although forecasts call for a drop in housing starts
of 6.5% to 7% and a drop in existing home sales of 4.5%
to 5%, keep in mind that 05 was the all time record, and
with the projected, 06 would still be the third highest
all time in housing starts and resales. Why should we
believe these national housing forecasts? In the summer
of 2004, Joint Center for Housing Studies at Harvard and
the Homeownership Alliance released a study that found
the annual demand for new housing over the next ten years
is likely to be greater than the past 30 years. This was
due to a) upwards revision of the estimate on population
(especially from immigration) by US Census, b) the Baby
Boomers are now buying retirement and vacation homes in
unprecedented numbers and c) the Echo Boomers or Generation
Y will be entering the housing markets.
With the fast sellout, and now construction of, The Mountain
Thunder Lodge Townhome project this past spring and summer
Vail Resorts Development Company already decided to push
ahead with the Skyway Skiway ski run from Peak 8 back
to the skier parking lots. It opened this year, two years
ahead of schedule! Now the Peaks 7 and 8 development has
been moved to the front burner. This will be a world-class
project that will vault Breckenridge into the elite of
resorts. It will sell fast and prices will go up quickly.
Vail Resorts is so Bullish on Breckenridge that they have
also started construction of the long awaited Gondola.
Contact me now to be at the forefront as information is
released.
What’s all this got to do with Summit County real
estate? Things
just keep getting better; Contact
Me Today! |
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©The Altitude News
2003 All Rights Reserved |
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