I hope 2012 is finding you well. This is a quick update regarding the Crested Butte Real Estate Market – as well some additional Crested Butte items that may be of interest.
January picked up where December and 2011 left off – we continue to see Buyers actively searching for value properties and Sellers continue to reduce prices to match the market.
There were 23 transactions in January totaling $16.1M – breakdown: 9 Single Family Homes, 7 Condo/Townhomes, and 7 Lots under 5 acres. The discount from Asking Price is in line with the 12% we saw in 2011 – with a few unique exceptions. Average Days on Market for all properties was close to 1 year at 357 days, with a high of 1,029 and low of 36 days.
With less snow early on CBMR did a great job with the conditions, some of the Extremes have opened (Headwall, Teo Bowl), and more snow forecasted this weekend. Even though a lighter snow season and visitors (so far) we are seeing an active Crested Butte Real Estate Market.
Here is a link to all the transactions in January.
Let me know how I can help you with all your Real Estate needs – and keep the referrals coming – Thank you!
Prospect Lot D4 Original Owner found dead in Spanish Jail
Foreclosed Lot 103 Bear Scratch Just Sold for $121,700 – (Originally purchased for $1.195M in 2006)
I don’t usually take note of things like this, but this is pretty unusual, especially for Crested Butte. You can’t make this up… The original Owner of Lot D4 in Prospect, who built a beautiful home (which burned down a few years ago – arson was suspected and investigated, but never proven) was found dead in Spanish Jail after fleeing the US following a diamond heist and murder in Connecticut… (see story and link below).
Lot D4 was just sold in January for $121,700 – quite a steal since it originally sold for nearly $1.2 in 2006.
Also of note – the fully furnished 6,500 sq. ft. home next door on Lot D5 just sold for $4M (Asking price was $4.88M).
“Andrew Robert Levene, also known as “Robert Thomas,” 41, has reportedly killed himself in a Spanish jail after being arrested on Monday Jan. 23, 2012 on federal murder, robbery and firearm charges in connection with the killing of Yekutiel Zeevi, a Westport jewelry manufacturer inside his store last month.
The plaintiffs in that case said Levene sought $445,000 from them to purchase land in Crested Butte, Colo., to build a luxury home, which was later destroyed by fire, according to delawareonline.com. “The suit claimed Levene received more than $2 million in insurance proceeds from the fire but failed to distribute the money to the investors, who had a 42 percent stake in the deal, or provide them with any financial records,” according to the report”.
Thank You for Your Referrals
I have received a number of recent Referrals and I really appreciate that.
I can help you with all your real estate needs here in the Crested Butte area – if you have any questions on any real estate issues, please contact me