October News from Telluride

New Office located in the Peaks Resort I recently relocated to the Peaks Hotel and Golden Door Spa. If you are in town and over at the spa, stop by and see my new location. I will be at the hotel most of the season and easy to find there. Along with the improvements to the resort, I was looking for a change and am excited to be in the hotel and among our guests. For 20 years, the Peaks has been the place to stay in Telluride and I anticipate the improvements to the property to help contribute to its new success. View my profile on Facebook PEAKS REAL ESTATE NEWSLETTER John Burchmore, Broker Associate Stonegate Subdivision Ski in/Ski out - Trailside lots on the market at HUGE REDUCTION!!! Prices starting at $451,500 6 Lots available Combine for family compound Bulk Purchase for all 6 Lots - $2,922,500 Ski in on Prospect Trail Lot 10 located on Sundance Trail Incredible land value in bulk or individually.
Vacation Services Telluride Fine Rentals is now online! Please visit www.TellurideFineRentals.com for your next visit to Telluride. We have a new reservation number at 970-708-0667 for your convenience. Our services have been expanded to include more properties, better prices and more options for your next vacation. Please give us a call to check availability and prices. We hope you'll book your next trip with us. Bluemesa #1 Belvedere Park #1 Centrum #302 BOOK NOW: www.TellurideFineRentals.com or call 970-708-0667
IN THIS ISSUE
Market News and Observations Significant Sales in 2009 Top 50 Ski Resorts - 2010	Telluride Ski Teaser Video Telluride Regional Airport Update Calendar

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Market News and Observations

Our third quarter activity picked up so much that number of sales and transactions more than tripled the activity of the first two quarters alone. I have attached spreadsheets for your review of the sales activity for the year. If you would like to discuss the market, the transactions or specific properties, please feel free to call anytime. The amount of people in town in September specifically to look at property seemed to be very busy. We seem to trend very similar to Aspen and Vail and we have seen very strong signals from other luxury markets that investment into these very small, finite, protected markets is beginning to return slowly. There are many wonderful opportunities at this time and due to the inventory and slow return, there will likely be many opportunities in the seasons ahead. There are few legacy investments that you can use and enjoy quite like a home or property in Telluride and I hope we can tour together this season.

• Mountain Village Home Sales 2009
• Mountain Village Condo Sales 2009
• Town of Telluride Home Sales 2009
• Town of Telluride Condo Sales 2009

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Significant Sales in 2009

Condominiums in Mountain Village
	Unit 106 Tristant Original List Price $1,825,000 List Price -$1,100,000 Sale Price – Pending
	Lodges on Sundance – 121 Lodges Ln. Original List Price - $1,800,000 List Price - $1,800,000 Sales price - $1,550,000 This 3500 square foot, 4 BR unit was priced to sell and closed at $435 per square foot
	Mountain Lodge Unit Original List Price - $510,000 Asking Price - $385,000 Sales price - $350,000 These two bedroom units have been sold below the prices the original developer sold out their remaining inventory a number of years ago.
	Dakota Place Original Price $2,950,000 Asking Price $2,450,000 Sale pending These are beachfront property at the base of lift 4. These units have sold for as high as $1400 per square foot and the sales price will be below $1000/foot for the finest location in the village.
Mountain Village Single Family Homes
	126 Polecat Original Price - $4,300,000 Asking Price - $3,700,000 Sales Price - $2,650,000 Sitting on an A+ lot ski in ski out on Double Cabin Ski Run. An example of a Seller understanding the market and selling when others are not.
	214 Adams Ranch Original Price - $2,595,000 Asking Price - $1,795,000 Sales Price - $1,624,000 An example of a spec builder selling at cost of construction.
	304 Benchmark Original List Price - $5,200,000 Asking Price - $5,200,000 Sales Price - $4,200,000 New construction at $735 per square foot. A price reduction that was 20% off.
	232 Benchmark Original List Price - $5,850,000 Asking Price - $5,550,000 Sales Price - $4,650,000 Again, new construction, 20% off and at a price level of new building we haven’t seen for many years.
	230 San Joaquin Original List Price $3,595,000 Asking Price - $2,950,000 Sales Price - $2,225,000 40% off the original price, in a great neighborhood and a beautiful home
Mountain Village Land Very few lots have sold in the past two years. Much of the inventory of good lots has been reduced over the past 5-10 years and with a low inventory, prices remained high until recently.
137 Hood Park Original List Price - $2,980,000 Asking Price -$2,450,000 (Sale Pending	Lot 423 Touchdown Drive Original List Price $1,600,000 Sales Price - $1,000,000
Town of Telluride Condominiums An inventory with close to a 4 year absorbtion rate. There are many opportunities available. There are 10 pending sales in the past month alone.
	Ice House Original List Price – 1,845,000 Asking Price – 1,475,000 Sales Price - $1,200,000
	127 South Oak Original list Price - $3,995,000 Asking Price $3,250,000 Sale Pending
	395 East Colorado Original List Price - $1,295,000 Asking Price $895,000 Sold Price $825,000 Two bedroom great location selling for the right price $624/sq ft and 35% off the orig price.
	571 B Pacific Street Townhomes Original List Price – $1,000,000 Asking Price $880,000 Sold Price - $715,000 Beautiful brand new construction with underground heated parking in a residential neighborhood. Off almost 30% from orig price and under $1000 per foot.
Town of Telluride Single Family Homes No sales over $2M yet this year. Buyers taking advantage of homes that are redevelopment projects or on great lots for the hold.
	135 N. Alder Original Price – $865,000 Sales Price - $Pending Purchase for land value.
	Aldasoro Ranch 100 Miguel Original List Price - $3,350,000 Sales Price - $2,873,000 Setting the tone of sales in Aldasoro at $520 per foot on more than 3 acres with huge views.

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Telluride Ski Resort Ranked one of Top in North America! by Conde Nast & Ski Magazine

Ski Area Opens November 26, 2009
New Terrain Announced: Gold Hill Chutes 2 - 5 & "Captain Jack's Run"

After three seasons of back-to-back expansions (more than 400 acres of quad-consuming chutes and steeps) on what was already an epic mountain, we need to catch our breath—made all the more difficult by No. 2–ranking Scenery that threatens to take it away around every bend. Read More >>

Do you want bunny slopes by day, but killer cuisine by night? Or perhaps black diamonds and boutique hopping? From Sun Peaks to Snowmass, we've ranked the top 20 ski resorts based on terrain, lifts and lines, après-ski, dining, and ambience. Read More >>

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Telluride Ski Teaser 2009 by Ben Knight

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TELLURIDE REGIONAL AIRPORT TO OPEN NOVEMBER 4

Telluride/Montrose 2009-2010 Winter Flight Plan

At 9,078 feet above sea level, Telluride Regional Airport (TEX) is the world's second-highest commercial airport and offers 360-degree views of the San Juan Mountains. The drive from the airport to Telluride or Mountain Village takes approximately 15 minutes. Getting to Telluride has never been easier: Non-stop air service is provided daily by Great Lakes Airlines through Denver and US Airways through Phoenix.

PLEASE NOTE: Telluride Airport is undergoing a runway construction project this summer. The runway will be closed to fixed-wing aircraft from April 7 to November 2, 2009. Ground transportation and helicopter service will still be available. The project includes work to smooth and flatten the runway surface and other measures to continually advance the safety of the airport. Call 970.728.3041 with any questions.

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Calendar of Events

October

1 Merideth Nemirov
1 Youth Art Awards
1 Bike Film
2 Telluride Oktoberfest
3 Bike Race
3 Telluride Medical Center Health Fair
9 Walking Words
9 NT Live
10 The Met: Live in HD
18 Cinderella Ballet
18 Gondola Closes for Off-Season
21 The Met: Live in HD
24 The Met: Live in HD
25 Sunday at the Palm
29 Shakespeare
31 KOTO Halloween Party

November

5 Ah Haa Youth Art Awards
7 The Met: Live in HD
12 Teton Gravity Research presents: Re:Session
13 The Met Live in HD
16 Telluride Film Festival - Film Noir
26 Telluride Ski Resort Opening Day
29 Sunday at the Palm

More details on Telluride Events