2011 Telluride Real Estate Market Update

Overview of the Town of Telluride and Ski Area

Written by Mike Shimkonis, Broker

Greetings from Telluride (with 30+ inches of new snow in the last ten days!),

In 2011, the San Miguel County real estate market saw a 17% increase in number of sales and a 22% decrease in dollar volume , year over year. The change in dollar volume/sales for the town of Telluride was a 7% increase in sales and a 7% decrease in dollar volume, year over year. For the Mountain Village, the change was a 22% increase in number of sales (because of fractional and Peaks hotel room sales)but a decrease of 40% in dollar volume. The region had its lowest level of sales in terms of dollar volume since 1997! The most vulnerable market segments are large ski homes in Mountain Village that, with limited recent exception, are not selling because they are seemingly overpriced; as well as many luxury condos in town and Mountain Village (although two Castellinas (ski-in/out near MV core) asking $2.775m each contracted in past ten days. At the same time, parts of the market have stabilized. The good news is that the number of transactions occurring in San Miguel County in 2011 is the best since 2007.

Since the downturn for Telluride in 2008, there is an overwhelming sense of a sputtering market with never-to-be-believed or who-would-have-thought new realities. Having a measured, informed perspective moving forward is prudent. Fortunately Telluride real estate sales have been steady this year with nearly an equal number of transactions occurring during each half of 2011. Not bad considering unexpected, major global events (earthquakes, tsunami, Euro crisis etc) caused everyone to pause.

In general, market prices have been reset by 20-40% while others have yet to re-establish themselves (nice ski homes in Mountain Village are moribund; property sales on both the nearby and outlying mesas are slim, luxury condos are only selling when priced to today’s market). Much depends on the property, unique circumstances and motivations in order for a property to sell. At the same time, many properties are still subject to continued pricing pressures.

The Telluride region is at historically high levels of inventory for sale in the marketplace and there are many more properties for sale than there are buyers. Over supply and under demand equals pricing pressure. It’s a great time to be a buyer, especially with cash or being qualified with attractive financing terms. About three quarters of the transactions I handled last year were cash buyers. There is certainly a sense that “catching the bottom” is driving some buyers. Others continue to espouse a “wait and see” attitude. There are yet other buyers who aren’t paying bank-owned prices but still are finding value for properties that meet their objectives.

Unless motivated by a property they can’t live without at a price that demonstrates real value, serious buyers will move onto the next property or wait until another property that interests them comes on the market. At the same time, there are several buyers who are ready to strike based on the few multiple offer situations I have been involved with this past year. There are also sellers wanting to sell who are waiting for market conditions to improve, yet the conditions aren’t getting better and, in certain market segments, likely to drop further. Any solid hint of price firmness might cause these sideline sellers to flood the market and re-exert downward pricing pressure. In the luxury sector of Telluride, price firmness is unlikely to occur in the next 12 months or at least until inventory levels subside. I expected meaningful price reductions in the luxury market to have occurred by now but they haven’t. There haven’t been many price reductions since the start of ski season with high-end properties either.

The uncertain U.S. financial and political picture along with a tenuous global economic situation has created a sense of vulnerability and a stressed global psyche. Conflicting, topsy turvy, volatile data being reported every
month by various governments and research firms is not generating confidence around the globe. Who should
we believe except our own intuition in determining how these global matters will affect our life? A general mood of fragility and lack of solid conviction that we’re going to pull out of this in a positive manner remains in collective minds.

Heading into 2012, there are certainly positive signs locally, nationally and globally. Locally, there are 42 properties currently under contract ranging in price from $69,500 for a fractional in town to $14.9
million for a home in Mountain Village according to the Telluride Multiple Listing Service. 1100+ acres of the Sound of Music ranch on Wilson Mesa recently contracted before Christmas, asking $18.8
million, by a buyer looking to park cash – certainly a positive sign if it sells. And there are several E52 contracts idling and hopefully closing soon. Nationally, the unemployment rate is falling, the U.S. is out of Iraq and the stock market is at promising levels. As long as various leaders around the globe skillfully handle their current situations as well as the unforeseen events bound to surface this year, the global psyche should firm up.

For a seller, if a buyer perceives the property is priced mark-to-market, the property stands a reasonable likelihood of selling in 3 – 12 months with perfect conditions (i.e. all cash buyer or well-qualified buyer working with a reasonable lender, a supportive appraisal and a skilled underwriter). Otherwise they will become part of the overflowing properties for sale with small chance of selling and wasting years on the market. At some point in the selling process, other factors in one’s life — such as the time value of money, the costs of maintaining a property, the opportunity costs of using money for better opportunities, and the importance of “getting on with it” in order to move into another life phase – should create strong enough reasons to get a seller to sell at a compelling price for a buyer.

Please see the subsequent blog posts for specifics on the home, condo and land components of the 2011 year end Telluride real estate market stats.

 

The Tale of Two Towns

Written By Brian O’Neill, Broker

The Historic Town of Telluride and the Town of Mountain Village have always enjoyed vastly different characteristics, yet a very complimentary relationship. The Town of Telluride is the reason Mountain Village is here, but at the same time MV has sustained Town. Full time, part-time and short time residents have varied preferences as to which town they prefer.

Nowhere is this more evident than when considering the purchase of a home. There are more full-time residents in Town, most likely due to the convenience. The higher ratio of part-time residents in MV is commonly due to the increased privacy and sizes of homes/condos. Oddly, these varied preferences lead to cycles in our market.

In 2011, the region saw a decreased dollar volume in sales of 22% from 2010. Homes in Town decreased by only 7% and homes in MV decreasing by 40%. Further analysis shows that home prices in Town appear to have stabilized, most likely due to lack of inventory from decent sales velocity (21 homes sold in 2011 and 26 in 2010), while home prices in MV remain under more pressure due to a glut of inventory from a lack of sales velocity (9 homes sold in 2011 and 20 in 2010). The median home price in Town increased 14% and the median home price in MV decreased 23%.

What this translates into is an emerging opportunity as sellers in MV capitulate to the market. The MV home market appears slower to heed the market due to individual strength and therefore prices for the better products tend to hold firm, but sellers interested in selling will create opportunity along with condominium developers who look towards moving some of their swollen inventory. Once sales velocity improves in MV, the tides will change; MV will see some gentle appreciation and the Town will slow, inventories will increase and pressure will be put on pricing.

1985 – 2011 SALES VOLUME: TELLURIDE VS. MOUNTAIN VILLAGE

 

Some of my favorite things…. Telluride’s big back yard

Written by Damon Demas, Broker

The snowy La Sal Mountains behind Arches National Park, Moab Utah

As Telluride locals, we spend months of our lives within our happy valley, surrounded by the massive and mighty San Juan Mountains. The San Juan’s are a sub range within the greater Rocky Mountain range that forms the nations Continental Divide. Our surrounding landscape is dramatic, with sheer granite walls, intense waterfalls and a multitude of high country streams that form the headwaters of the San Miguel River. The general impression one gets when eyeballing the Telluride surrounds is that of a lush, water abundant, high alpine paradise. However, we that live here understand the delicate balance that exists between the snowpack that hovers above us, providing the illusion of water wealth and the vast desert lapping at our flanks to the west, laughing at our precarious position. It is this juxtaposition, the gradual yet profound transition from mountains to desert, that gives our climate its temperate allure- mild winters and spectacular summers.  This desert influence plays a subtle yet important role in our remarkable weather here. The winters do offer up some powerful storms, yet they are brief and immediately followed by bluebird days of sunshine and warmth. The summers have their afternoon monsoonal downpours followed by rainbows and then crystal clear skies. I have not encountered a better climate to live in, it is as close to perfect as I could imagine.

My wife, Elaine Demas, hiking in Zion National Park - Utah.

Over the past twenty two years I have been exploring the beautiful red rock canyon country to our west. These adventures have proven to be some of the most satisfying of my life. My wife and I have always had a Volkswagen camper which is a perfect mode of transportation and lodging for our desert outings. Our children have accompanied us since their earliest years. The unique rhythms of our mountain existence have typically dictated that we take our vacations away from our valley when the ski runs close and before they open. The months of April, May, October and November are particularly compelling in the desert. The temperatures and setting are a perfect complement to the mountain existence we have been living, the best antidote to the high altitude box canyons that comforts and confines us in Telluride.

Cedar Mesa's Grand Gulch. Hand prints of the ancient ones.

The closest power spot to the west of us is Moab, Utah. This is home to Arches and Canyonlands National Parks. Moab lies about three hours drive from Telluride and is truly one of the wonders of the world with the Colorado River cleaving its way through the red rock canyons, domes and spires surrounding Moab. The biking is unparalleled and the visual panorama is magnificent. This is an easy way to gain an appreciation of the magic that the western landscape holds. We have found that going deeper and further south and west can offer up even more staggering scenery, most of it remote, wild and with varying degrees of accessibility. We have traversed much of the territory served by roads, then hiked into the Havasupai Indian reservation with its 500 foot waterfalls of aqua blue waters that spill into the Colorado River, backpacked sections of the Grand Gulch with its stupendous assemblage of ruins built by the Ancient Ones, slept on the edge of Dead Horse Point overlooking the confluence of the Colorado and Green Rivers, ruined my VW in getting to the Grand Canyons edge at Toroweap Point, hiked the Narrows at Zion National Park and floated the water filled canyons of Glen Canyon (Lake Powell).

Balanced Rock in Arches National Park, Moab Utah.

These are some of the gems that lay within striking distance of our Telluride home base, there are innumerable others waiting for us around every bend of the road or river. Telluride is uniquely poised on the western edge of the San Juan’s, looking west to the smaller mountain clusters of the La Sals, the Henrys and the Abajos- snow covered sentinels surrounded by desert. The main thrust of my message is that Telluride provides a remarkable platform from which to leap into some of the most astounding and inspiring landscapes of the world. This immense and stupendous territory is a hop, skip and a jump away, right out our back door. I came west with the barest inkling of what lay beyond the ski slopes that beckoned me to Telluride and have been happily astounded ever since. Telluride possesses all of the ingredients that provide for the ultimate life style, that is why we are here. However, I have become aware that within our big back yard to the west, extraordinary forces have been at work over eons, the product of which has resulted in a masterpiece of natural beauty- all seemingly meant for our exploration and pleasure. So, if you have thought you are lucky to be here in Telluride, you certainly are…yet there is so much more that awaits you. As this ski season winds down I am already looking west, perhaps a seventy mile float down the Escalante River, ending in LakePowell! Why not? Let’s Go!

Cedar Mesa ruin and sandstone panel.

Joshua Tree National Park.

Cedar Mesa Arch.

 

 

Steve Cieciuch’s 4th Quarter Analysis of 2011 Real Estate

425 Depot Avenue - Town of Telluride

Written by Steve Cieciuch (Chet-chu), Managing Broker

2011 is behind us and year end totals were lower than anticipated, however, December activity was on the rise with $29M worth of real estate going under contract. Currently there is $68.6M worth of property under contract which equates to 27% of the entire year of sales production in 2011, which should bode well for 2012.

The overall dollar volume of $247.4M for 2011 was down 22% versus 2010, while overall transaction volume was up 17%.  The biggest drop in dollar volume occurred in Mountain Village with sales volume down 40%; however transaction volume was up 22% primarily because of the significant number of Peaks Hotel sales. Telluride experienced a 7% decrease in sales volume, while the number of transactions was up 7%.  Overall sales volume for the balance of San Miguel County real estate was down 5%, while transaction volume was up 22%.  Interestingly, the number of overall transactions at 383 was the highest since 2007, while dollar volume was the lowest in the last 4 years.  2011 experienced a preponderance of lower priced transactions while buyers in the high-end of the marketplace continued to demonstrate hesitancy.

October: Fourth quarter sales started out fairly strong with $21.2M in sales for October which ranked as the 5th best month of the year while November and December ranked as the 1st and 3rd poorest months of the year.  This makes sense as market activity dropped significantly in late August and September due to the US debt downgrade, debt ceiling gridlock and continuing European sovereign debt concerns.  As transactions typically close 45 to 60 days after upticks in activity, November and December bore the brunt of the decrease of late summer and fall showing activity.  Telluride real estate was very headline sensitive all year long and these underperforming numbers paralleled the uneasiness in global markets across the board.

Notable sales in October included Rivercrown Unit 1, a 3 bedroom 3.5 bath condominium along the banks of the San Miguel River which closed for $3,006,000 or $1,075.91 per s.f.  Six Mountain Village condominiums closed in October totaling $2,551,240 with a 2 bedroom Granita Unit closing for $995,000 or $677 per s.f.  An older Mountain Village home in the Hood Park neighborhood closed for $2,950,000 or $475 per s.f., also a log and stone home built in 1988 in Elk Run closed for $2,150,000 or $367 per s.f.  A bank-owned sale of a spec home in the Idarado subdivision, located several minutes to the east of Telluride, closed for $3,225,000.  This was the last sale for a spec home near the Town of Telluride, as all new developer inventory has been absorbed. October ended up down 1% in overall sales volume compared to October 2010 and down 7% in transaction volume.

November: During November, a 4-bedroom, 4.5-bath home located on Tomboy Road in Telluride closed for $3,410,000 or $860 per s.f.  One of the notable sales for 2011 closed for $4,475,000 in Mountain Village.  This slopeside 7-bedroom, 7.5-bath residence for $615/ s.f. ended the month up 12% in overall dollar volume and down 4% in number of transaction compared to November 2010.

December: December experienced 6 sales of Mountain Village condominiums totaling $6,371,500, with a notable short sale of a See Forever 4 bedroom unit at $1,650,000. In addition, a significant bank sale occurred; the Cortina project closed for $3M and included 4 lots with 15 partially completed townhomes which began construction in 2007.  Vacant land in the County experienced an uptick with 4 sales totaling $1,534,060.  Overall, December ended up 11% in dollar volume versus 2010 and up 36% in transaction volume.

In December two significant homes went under contract listed at $14.9M and $7.9M respectively, Sound of Music Ranch Parcels B and C listed at $11.4M and $7.4M on Wilson Mesa contracted, as well as a 42-acre parcel with guest home at the Preserve listed for $5,850,000.  Assuming these properties close, this could start a resurgence for the high-end market which was on hiatus in 2011.  Anecdotally, I am getting the sense of pent up demand. If there is any sustained stretch of predictability in world markets, combined with the lack of new developer inventory being added to the market place, I believe 2012 will show significant improvement over 2011.

 

Real Estate & Snow Update

Enjoying A Groomer Run At The Telluride Ski Resort

Written by Aric Maloy, broker

The holiday season brought many homeowners, returning guests and new visitors to Telluride. When other resorts were struggling with lack of snow, Telluride fared pretty well considering it had not had much of the white fluffy stuff floating down. One great quality that Telluride possesses is that it does not take a large accumulation of snow to cover our mountain. Couple that with Telluride Ski and Golf blowing new snow for the World Cup early last month, Telluride is a packed powder skier’s paradise. I was up yesterday and had one of my better ski days of the year cruising down See Forever and several other freshly groomed runs. Telski continues to blow new snow on the ski area ensuring that the conditions will be in top quality condition for all of us. Plus, it is snowing right now!

As for Real Estate, January always gives us a moment to observe the state of the market from the past year and currently. According to Telluride Consulting, Telluride and County decreases in dollar volume were minimal, but Mountain Village showed a significant decline in dollars. Apparently most high-end property sales in MV were on hold in 2011. The good news is that every market segment showed improvement in overall sales activity in 2011…the most sales since 2007! All signs point to a positive outlook for 2012!

A brief overview:

-Ski Ranches in particular has seen a substantial increase in sales within the past 18 months. There will continue to be good opportunities with reduced pricing within this subdivision. The quality product tends to not last long if priced appropriately. Buyers are recognizing the value of this subdivision with its location/privacy/ski proximity and larger lot sizes.

- Mountain Village homes have seen a bit of a correction, but there appears to be more staying power with the majority its sellers. The “deals” are limited to Golf Course homes or dated opportunities that need significant renovations to bring them up to the expectations of potential buyers. MV just had $15m and  $8M homes contracted in the past 3 weeks. Along with increased showings over the holidays, there will likely be multiple contracts in the near future.

- Vacant Land recently has seen an uptick in activity due to REO/ Bulk purchases. But once again, it appears that the owners/sellers of vacant land appear to have staying power as well. That being said, vacant land opportunities come available but if they represent a good value, they tend to not last that long. Examples: Idarado P4 @$600k, Trails Edge 1 @ $250k, Trails Edge #2 @ $250k and the current Elk Run Bank owned lot under contract scheduled to close soon.

– Condos within the Mountain Village.  This is one of the best opportunities for buyers in the coming 12 months.  There are several developments offering overpriced units currently.  This is about to change with several complexes as all are re-evaluating their pricing. There will be a significant price adjustment that buyers should feel more comfortable “jumping into”. Be ready, upon this adjustment, units should be moving quickly. Don’t miss your opportunity!

Be sure to ask your Telluride Properties Broker about any of these market segments.

While the Telluride regional market has seen an uptick in activity year over year, there still is one thing that remains the same. The Telluride lifestyle is unmatched! Upcoming events include Women’s Ski Week and Telluride Comedy Festival February 13-19 Telluride Aids Benefit; March 1-5 and as always….  the skiing is amazing!

A Beautiful Day at the Telluride Ski Resort

“If you don’t do it this year, you’ll be one year older when you do.” –Warren Miller.

 

 

Happy Holidays and Welcome Back to Telluride!

Gigger Gavin

Written by Brian Gavin, Broker

Things have certainly picked up over the Christmas/New Year’s holiday and it’s great to see town packed again.  I love this time of year as it gives me a chance to reconnect with out-of-town friends and is a great reminder of why so many people love to call Telluride home.  The spirit of the holidays is in the air and you can see how excited people are to be back.  My parents continually ask me, when are we going to move closer to home and I tell them that if you can show me another place similar to here then I might think about it, but until then this is the place for us.  With over $86 million in pending contracts in San Miguel County, 2012 is shaping up to be a great year as more people strive to get away from their stress of daily life outside the bubble and commit to experience more of the “Telluride Lifestyle.”  Oh the air we’re breathing up here is just fine, fine, fine!

 

Why Telluride?

Why do we choose to live and work here versus any of the other ski areas in the states?

Written by Josh Rapaport, broker

On the Summit of Palmyra Peak 13,320 ft

Quantitatively, when you look at snowfall, ease of travel, most runs, fastest lifts, and other numbers, telluride never tops the list, but when those numbers are paired with raw experience, Telluride comes out near the top.

Christopher Steiner, recently wrote an article in Forbes Magazine, where Telluride ranked number 3 of 5 for the top ski resorts in the United States. He found that an engineer’s look at the numbers never provided the best experience. There are qualitative factors that capture the true ski vacation, and weigh just as heavy as the ‘numbers’. Christopher came up with a new scale called, PURE AWESOMENESS FACTOR, and Telluride scored an 89 out of 100, ranking it number 3 in the United States.

Some of Telluride’s Highlights are:

• Main Street is framed by one of the most magnificent box canyons in the world.
• Telluride has the only free gondola public transportation system of its kind in North America to take you from Telluride over the mountain to Mountain Village.
• At the east end of Telluride, Bridal Veil Falls is Colorado’s tallest free-falling waterfall at 365 ft.
• Telluride Helitrax is Colorado’s only helicopter ski company and has been in operation since 1982.
• Telluride Ski Resort’s newly added terrain over the past few years takes our small mountain into competition with the best in the states.
• Ski Magazine rates Telluride Ski Resort in the Top 10 ski resorts in North America.

We will never be Aspen, Vail, or Park City. We are Telluride, and if you haven’t checked us out, you should come for a visit and see what makes us so unique and unlike any other ski area in the United States.

 

Stress Relief for the Holidays: Enjoy a Relaxing Vacation in Telluride

Written by Jesse DiFiore, Broker Associate

Stressed about the holidays? The holiday rush can add even more pressure on many people who are already experiencing unusually high stress, says psychologist Dr. Laura Maciuika, author of Conscious Calm: Keys to Freedom From Stress and Worry.

“Almost half of adults in the U.S. have reported feeling more high stress than they did a year ago,” explains Dr. Maciuika, a Harvard-trained clinical psychologist. “The holiday rush and economic pressures can make that stress even worse—and yet we’re supposed to be celebrating and having fun! Plus, there is so much information out there about stress, including popular myths—it can be hard to know what works for lasting stress relief, or figure out where to start.”

To help separate the stress myths from realities, Dr. Maciuika has a free Special Report on Stress Myths at http://www.stopstressandworry.com.

Dr. Maciuika suggests three Conscious Calm Tips to ease the holiday stress, feel more relaxed, and be able to enjoy the holiday season more fully:

Conscious Calm Tip No. 1 – Notice the difference between the outside stress (shopping, parties, finances, etc.) and inside stress. Most of us do not pay enough attention to what we’re doing on the inside, in our minds. What we tell ourselves all day long, what we decide something means, how much story-telling we do – these are inside actions we do have control over. They make a huge difference in how we feel. Bring awareness to how you may be adding to inside stress for more choice, control and calm.

Conscious Calm Tip No. 2 - Once you have more awareness of internal stress-creation, remind yourself these are choice points where you do have control. Where you put your attention makes a huge difference in how you feel. If you notice yourself focusing on problems for too long, or telling yourself stressful stories, interrupt those patterns. Choose to put your attention somewhere else. Focusing on deeper, slower breathing can be a useful here; so can focusing on what you’re grateful for. Interrupting automatic pilot thinking is important for getting back to present time and more ease.

Conscious Calm Tip No. 3 - The holiday season can bring “have to attend” parties and other obligations. Be sure to balance those with gatherings or rituals that hold meaning for you. Set some limits—compromise or say “No” if the obligations get too much. The holiday season is a powerful time to create positive memories for yourself and your loved ones. Be sure to include and prioritize activities and get-togethers that will add to that treasure chest of good memories.

This holiday season in Telluride remember these three calming tips. Experiencing a relaxed vacation and holiday is why you decided to bring you family to ski in Telluride. While standing on top of Gold Hill this holiday season don’t forget to stop and take in the views of the La Sal’s, take a deep breath of fresh Telluride Mountain Air and become aware of the joy of being in this amazing ski resort with your family. Whether it is ice skating at the Mountain Village core ice rink, sipping on hot chocolate at Alpino Vino or just walking around town, embody the meaning of the season, you’re only at the top ski resort in the world.

If you are one of the lucky ones and you have that urge that your family must have a piece of Telluride, remember the golden rule of Telluride Real Estate – location, location, location. Don’t be fooled by bank owned, short sales or discounted properties which might not be the best fit for your family and the coming vacations in Telluride. The Telluride real estate market is 10% investment, 90% good old family fun! While out with your Telluride Properties Broker, remember why you first decided to come to visit, that article in ski magazine, your best friends advice or just maybe the drive across country that landed you at the end of the box canyon. This is a place for fun, relaxation, and heart beating adventure. These experiences and I mean experiences do not get ruined by the S&P plummeting, disappointing politics or the European economic crisis. They become engraved in your memory as the spirit of adventure, one that you will recall while crunching numbers at your desk, one that your kids will be bragging about at school, and one that you will be dreaming of until you step back in to town.

HAPPY HOLIDAYS!

 

The old saying, “They ain’t making anymore land”…

Written by Eric Saunders, Broker

The old saying, “They ain’t making anymore land” has never been more evident than right now in the Telluride region.   Supply and demand is one of the most basic laws of real estate and economics.   Yet, the phrase is the functional foundation of the housing market, especially in our quaint little town of Telluride.

The Telluride region is surrounded by federally controlled lands (USFS and BLM) limiting future growth to approximately 14,000 private acres.  Virtually all the land is subject to a master plan which allows for the development of fewer than 4,000 single family units on about 1/3 of the above mentioned ground.

Additionally, the last large developable parcel in the region, the Valley Floor, a 570-acre parcel was just purchased by the Town of Telluride and will remain open space forever.  That is it.  There are no more large development parcels in the region.  There is only fill-in development in Telluride and Mountain Village.

The Telluride real estate market is akin to an island in the mountains and just like an island, there is nowhere else for us to expand.   Unlike Vail, Aspen and most other ski resorts, which have extensive down valley areas with capacity for tens of thousands more units, Telluride and Mountain Village effectively end at the entry to the towns.   What you see is what you get.

Yes, Telluride has been affected by the downturn, which translates into opportunities to acquire ski property at prices we haven’t seen since the 90’s.   However, Telluride real estate parcels are also unique and finite.   One of the many reasons the town of Telluride has maintained value during this difficult time is due to the uniqueness of a number of its properties.  In the last year, Telluride has had 23 properties sell for over $900 per square foot and as high as $1500 per square foot.   This speaks to the iconic nature of certain properties and the “one of a kind” uniqueness a few possess.

Once the economy improves, our market is likely to come back quicker and stronger than any other markets due to the limited amount of supply.  There are only so many vacant lots, ski condos or homes that meet a buyer’s need.  Once they are gone, there are no more.    We are not like most other resorts with thousands of choices.  So, if you love that little condo at the base of the Telluride Ski Resort with a ski shop downstairs, now is the time to fulfill your lifestyle dream.

 

Most Charming Resort: Telluride Ranked #1 for 2011-12

As seen in SkiMag.com

As you roll into this secluded box canyon, you half expect to see “Once upon a time…” inscribed across the sky in Old English script. Whether strolling the quaint main street, curling up by a roaring fireplace in the Mountain Village or dining beneath imposing, Alp-like granite peaks, you just might find your happily ever after.

Telluride was also ranked #8 of 10 resorts for terrain challenge (Aspen was #9 and Vail didn’t place).