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Chris Kopf Coldwell Banker Mountain Properties

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Possible Sale of the Crested Butte Ski Area

November 22, 2013 By Chris Kopf

It has been reported by the Denver Post and the Crested Butte News that there is a Possible Sale of the Crested Butte Ski Area by the end of the year.  This has also been confirmed by CBMR – and they made an announcement to some of their upper management at the end of last week.  There have been many rumors before – but this sounds like a bonafide possibility.  Tim & Diane Miller along with son Ethan Mueller (General Manager) and daughter Erica (Marketing and Public Relations) operate CBMR and own quite a bit of real estate holdings around the base area and on mountain, many home sites in the upscale Prospect development, and the undeveloped North Village at the base of Snodgrass mountain. Evidently the talks started initially about all the Mueller’s real estate – and morphed into  buying the operations of the Crested Butte ski area as well.

The name of the buyer has been kept confidential – but the rumored word on the street is that the buyer  may be  Cypress Equities out of Dallas in partnership with Intrawest.  Cypress Equities (formerly a part of Staubach’s real estate company) is headed by CEO Chris Maguire – who has a beautiful ski-in/out home in the Prospect development here on Mt. Crested Butte, and they also recently acquired a parcel of land near downtown Crested Butte.  Of course Denver based Intrawest is a quality ski area operator with six ski resorts in North America including Winterpark and Steamboat here is Colorado. There are a lot of moving parts and as any transaction goes – the devil is in the details.  To quote Yogi Berra: “It ain’t over till it’s over.”

How will this Impact Real Estate in the Crested Butte Area?

CrestedButtRealEstate-MarketCycles

Cycles Repeat, but we may not see the same frenzy that occurred in the past because the backdrop of the national and world economy is different.  Change is constant, and everyone’s personal situation is different.  The diagram to the right illustrates the different emotional states along along given different market cycles.

My general recommendation is that if you were considering Selling your Crested Butte home – this may be the time to seriously consider putting your property on the market.   For those properties on Mt. Crested Butte it makes even more sense because of the demographic of affluent skiers who come in the Winter – these visitors are more inclined to be Buyers who want to be up on the Mountain or in town with easy transportation to and from the base area via the Mountain Express shuttle.  We all know that the cost to vacation here in the Winter is much higher than the Summer – so it holds true that this is generally a good time to have Mt. CB luxury properties Listed for Sale.  You may want to review the recent monthly Crested Butte Real Estate Market Reports.  If you are interested in getting an update on the Crested Butte Real Estate Market and the value of your property call me at (970) 209-5405.  As a part of my services and listing your home I hire and coordinate professional photography and video tours of your home, and have an extensive list of Marketing efforts I employ to sell your property.

If you are a Buyer and have been looking for a while – it may be time to pull the trigger. We have had a declining market for nearly 5 years, and by all indicators the market has flattened and perhaps started to turn upward.  We are still 20% below price points from 2008 – and this will not change overnight.  We have great values in Crested Butte in all categories of real estate. Some may think price points will go lower – probably not in the near future.  I predict that we will see the delta from Asking Price to Selling Price shrink, and that we may start to see price points rise.  I predict there will be more inventory on the market – so more choices – but probably at higher prices.  Those properties that have been listed for a while should be Sellers enthusiastic about selling and anticipating finally the Market will come to them.

How can I help you?  My website and my Crested Butte Real Estate Market reports are representative of what you can expect from me as your Crested Butte Real Estate Agent. If you are contemplating selling and interested in finding out what your existing property is worth, or if you are considering me to represent you as a Buyer, I would appreciate the opportunity to earn your business (or that of a friend you think I could help).

To see featured properties or search the MLS – visit chriskopf.com. Contact me at: (970) 209-5405, chriskopf@bighornrealty.com, and be sure to check out the Crested Butte Real Estate G+ page for all things Crested Butte.

 

Author:  Chris Kopf

 

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Chris Kopf, Coldwell Banker Mountain Properties
305 6th Street
Crested Butte, CO 81224
  • Chris.Kopf@CBMP.com
  • (970) 209-5405

Testimonials

Bobby Nichols

"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "

 
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:45:19-07:00
"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "  
https://chriskopf.com/testimonials/bobby-nichols/

Jeff Hollings

Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:46:48-07:00
Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
https://chriskopf.com/testimonials/jeff-hollings/

James Brennan

This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
Crested Butte Real Estate by Chris Kopf
2014-10-14T17:59:24-06:00
This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
https://chriskopf.com/testimonials/james-brennan/

Jane Saltzman

Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:49:37-07:00
Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
https://chriskopf.com/testimonials/jane-saltzman/

Georges Lussier

The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:40-06:00
The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
https://chriskopf.com/testimonials/georges-lussier/

Frank Stringer

Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:51:04-07:00
Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
https://chriskopf.com/testimonials/frank-stringer/

Paul & Julie Keesee

Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:59-06:00
Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
https://chriskopf.com/testimonials/paul-julie-keesee/

Jim & Sandra Wickham

Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:18-06:00
Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
https://chriskopf.com/testimonials/jim-sandra-wickham/

Tom & Mary Aton

It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:31-06:00
It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
https://chriskopf.com/testimonials/tom-mary-aton/

Dan Aquaviva

This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:26-06:00
This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
https://chriskopf.com/testimonials/dan-aquaviva/
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Crested Butte Real Estate by Chris Kopf

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