Telluride Market Update

Telluride Continues to Plug Away
Numbers Down but Notable Sales and National Predictions Encouraging

In a nutshell, Telluride is getting through it like everyone else. On account of the current state of the economy, or rather where it was during the first two quarters of 2009, real estate activity slowed considerably. After a string of high marks between 2000 and 2007, with the latter reaching record heights by year’s end ($710 million in total dollar volume),numbers changed significantly in 2008 and thus far in 2009. According to data compiled by the Telluride Association of Realtors. (TAR), overall figures between January and June 2009 were $80 million in total dollar volume, distributed over 105 total transactions. This is 54% lower than the first two quarters of 2008, which totaled $174 million and noticeably lower than earlier in the
decade when property values were less. TAR’s figures encompass the greater Telluride region, including San Miguel County, as well as occasional out-of-county sales (i.e. Montrose, Ridgway, and other communities).

But with a little optimism and acknowledgement that ebbs and flows are the nature of the real estate beast (albeit this ebb is a tad more drastic), it’s still possible to find a silver lining behind this dark cloud.

First of all, resort economies, once largely sellers’ markets, are now giving buyers a chance. With ample inventory to choose from and low interest rates, it’s a good time to make a purchase. Secondly, Telluride has endured negative market effects now for roughly 18 months. Certain experts predict the tides may start turning. The Wall Street Journal stated in a June 3, 2009 article, “In another sign that the housing market may have begun to recover, the number of people who signed contracts to purchase homes increased for the third month in a row.” The piece included data from the National Association of Realtors, which said its pending home sales index rose 6.7% from March (84.6) to April (90.3), and Joshua Shapiro, an economist with MFR, the Manhattan global economic consulting firm, was quoted: “Clearly, within the next couple of
months there’s going to be a decent increase in actual homes sales.” On another note, the
widely recognized financial analyst, Mad Money’s Jim Cramer, predicted back in September 2008 that the housing market would bottom in the third quarter of 2009
(read more at: http://skiresortmarkets.com).

As for Jim Cramer, he likely has as many foes as fans, but it would be comforting, nonetheless, if his prediction is correct. Perhaps the first two quarters of the year can be chalked up as part of the trip toward bottom, and the worst might in fact be over.

Please contact buzz@fedorka.com for further detail on the above article or about other real estate opportunities in Telluride.

Telluride Snowboard World Cup

Snowboard World Cup in TellurideTelluride is the sole U.S. stop of the LG sponsored FIS (International Ski Federation) Snowboard World Cup and will feature both SBX (snowboardcross) and PGS (parallel giant slalom) competitions during the second in a series of five Olympic qualification events for the two disciplines.

With snowmaking already in full swing, the mountain will be fully prepared and eager as athletes, coaches, media, families and friends from around the world visit Telluride for this Olympic qualifying event.

"Snowmaking is off to one of our best starts in years with the cold weather, and the new snow we have received in the last couple of weeks is a great bonus," said Ryan Mackey, snowmaking and grooming manager. "Currently we are making snow on Upper Village Bypass, Lower Boomerang into the Mountain Village, Meadows and Lower Misty Maiden (especially for the World Cup)."

According to U.S. Snowboarding Head Coach Peter Foley, Telluride is a perfect home in the west for an early-season World Cup stop. "With the early start on snow happening at Telluride we are getting really excited to get there. We can't wait to show the athletes from around the world how great Telluride is and let them experience a real world class course." Competition and Event Services Manger, John Jett, has been working with the USSA and the FIS on course procedures and qualifications. "The last of our summer projects for the event, including laying the timing wire for the PGS, has been completed. Both FIS and USSA course inspections have been approved for the World Cup Competition," said Jett.

"Our core competition jury; Technical Delegate Tim O'Brien (CAN), Chief of SBX Gary Wright, Chief of PGS Mark Lamberson, and FIS Commissioner Tom Winters met to review our operating plan, to ask questions and offer suggestions. They are truly excited and in awe of our progress," continued Jett. "Looking forward, the next month and a half is all about the details, logistics and scheduling of our volunteer manpower."

"The Telluride Ski Area and the towns of Mountain Village and Telluride are excited to be hosting the upcoming Snowboard World Cup beginning on December 17, 2009," added Frank Bell, Co-Chair of the Organizing Committee. "These challenging and crowd pleasing events, which will be the Telluride area's first World Cup competition, will showcase things to come at the Vancouver Olympics in February of 2010. We hope the world will join us either in person or through the media coverage in introducing the best snowboarders in the world to the great terrain, spectacular mountain setting, and two great ski towns that embrace the 2009 Snowboard World Cup."

Telluride will be the sole U.S. stop of the LG FIS Snowboard World Cup and will feature an SBX, PGS and the newly added Team Snowboardcross competition during what will be the second in a series of five Olympic qualification events. The heat will be on in the snowboardcross as four athletes race through rollers, jumps and banked turns in an attempt to be the last racer standing. - Telluride Ski & Golf Resort

For more information on this event or real estate information please contact buzz@fedorka.com.

Women’s Ski Week II, Telluride, Colorado

Join a consortium of leading ladies from around the globe for a week of outdoor activity offset by pampering of your mind, body and soul. At Women’s Ski Week II, you will have the opportunity for all-day expert ski and snowboard instruction, complimentary use of top-of-the-line gear, and use of the NASTAR course at the World Renowned Telluride Ski Resort.

In addition to becoming mountain sport divas, you can indulge yourself in morning yoga stretch, soothing spa treatments, as well as the finest in apres ski...followed by delicious dining and special shopping discounts. Women’s Ski Week II is also pleased to welcome renowned Keynote Speaker Rebecca Shambaugh, Author and CEO of Shambaugh Leadership Group - www.shambaughleadership.com. Ms. Shambaugh promises to deliver a compelling motivational presentation entitled, “Leading with Resilience - A Time for Reinvention”. In this session, participants will learn how to assess their individual resiliency as a critical life skill during these changing and challenging times! Join us for this rewarding event with your esteemed colleagues and friends!

Women’ Ski Week I will be February 6-11 with details to follow.

Packages Include:
Welcome Reception • Après-ski events
Celebration Dinner • Keynote Speaker Session
Yoga Stretch • Shopping Discounts
Gifts, Prizes & Raffles • Sponsor Trunk Shows

For more information on packages and to make a reservation, visit www.capellahotels.com or call 1.877.247.6688 and provide CODE 00011 at time of booking.

For information on Telluride Real Estate, contact Buzz Fedorka at buzz@fedorka.com, website: www.fedorka.com.

Telluride's Featured Home Listing of the Day

260 Double Eagle Drive - $2,550,000

This fully furnished 4-bedroom, 4.5-bath mountain rustic timber and stone home is close to both golf and skiing and features panoramic San Sophia Ridge views, along with superior construction and top-of-the-line appliances, features and finishes, including a 2-sided fireplace, granite counters, three steam showers and a hot tub.

Telluride Resort Terrain expansion

TELLURIDE, Colo. (Sept. 14, 2009) – Telluride continues this year on an unprecedented run of terrain expansion, opening Gold Hill Chutes 2-5 for the 2009-10 winter season. Revelation Bowl opened in 2008-09 as the biggest story in ski country, along with Gold Hill 1. Palmyra Peak, Black Iron Bowl and Gold Hill 6-10 opened in 2007-08 to a huge public response. All told, the resort has expanded by more than 400 acres over the past three seasons, adding to Telluride’s already legendary terrain and offering some of the most spectacular skiing and riding on the planet. The resort’s vertical drop is now one of the largest in North America at 4,425 feet, with 3,845 vertical feet lift-served.

The opening of Gold Hill Chutes 2-5 gives full access off west Gold Hill ridge, with 1-10 now accessible to the public. Reminiscent of the long, open lines of Alaska, the spectacular terrain drops 1600 vertical feet into the Prospect Basin, including faces, couloirs, chutes and rock features all above treeline. A ride up the new Revelation Lift offers easy access, with direct skiing into Gold Hill 1, and a short 5 minute hike up a new snowcat road to the top of Gold Hill for 2-10. The area is controlled by two WWII vintage 105mm howitzers, installed last year.

Please contact buzz@fedorka.com for information on the above or any real estate information.

34th Annual Telluride Jazz Celebration

The 34th Annual Telluride Jazz Celebration has returned to its historic summer dates -- August 6-8, 2010. Mark your calendar!
Early Bird Tickets Online Now
Discounted Early Bird tickets are available online at www.telluridejazz.org. Keep the Jazz vibe alive in Telluride... Telluride Jazz tickets make great holiday gifts!
PS: Take advantage of our Limited Time Holiday Offer -- we are waiving the online handling fee until December 31, 2009. Enter code HF2010 at check out.
Telluride Jazz Celebration 2010
Telluride Jazz Celebration (TJC) is busy working on the 2010 line-up reinforcing our long-standing commitment to nurturing the roots of the classic Jazz, Latin and African traditions. The initial lineup will be announced in the weeks ahead and will include a full Friday slate of events, so stay tuned.

New this year is the addition of Core Power Yoga as a Presenting Sponsor www.corepoweryoga.com. Each morning of the festival weekend, Core Power Yoga staff will offer free introductory and advanced level yoga classes to TJC ticket holders in the Telluride Town Park. Get loose, stay loose.

TJC 2010 promises to be another intimate experience with a great show in the beautiful Telluride valley. Make your plans now to join us next August.

For more information on this or other festivals or Telluride real estate, contact Buzz Fedorka at buzz@fedorka.com.

Telluride's Featured Home Listing of the Day

110 Saddlehorn Lane, Ski Ranches - $1,650,000

Beautiful 3 bedroom, 3.5 bathroom main house with a 2 bedroom, 1 bathroom guest apartment. Located on a very private 1.3 acre lot in the Ski Ranches. Sandstone and granite countertops, large workshop, cherry and pine cabinets, doors and floors, many other custom details.