This fully furnished, 4 bedroom, 4.5 bath Crested Butte ski home is located at Wildhorse at Prospect neighborhood. Enjoy stunning mountain and ski slope views from this well appointed luxury home just a few minutes from the Gold Link and Prospect ski lifts.
Offered at $1,299,000
Good day from Crested Butte Colorado,
I am excited to announce two very special and brand new listings from Benson Sotheby’s International Realty.
1st Opportunity:
Lot 1 at Crested Butte Highlands.
This awesome ranch land parcel offers commanding views of Red Mountain and Whetstone Mountain. Enjoy the unobstructed views of the lush East River Valley below. Great topography, elevated homesite locations and a nice mix of forest and meadows. Bring your horses – bring your skis. Crested Butte Mountain Resort is just up the road. Easily one of the best priced, big acreage parcels available in rural Crested Butte today. 15.41 acres offered for $385,000.
2nd Opportunity:
68 Shawnee Spring Creek Colorado
68 Shawnee is a one-of-a-kind building opportunity for the fishing, hunting and mountain lifestyle enthusiast.
Located just 60 feet from Spring Creek, this parcel includes fishing rights to your private stretch of the creek. Taylor River is just down the street (Harmels) and access to hunting and other recreational opportunties is nearby! 2.19 acres common, fishing easement and 1 acre building envelope offered for $352,500.
Thanks for visiting today,
Channing Boucher
Good day from Crested Butte Colorado,
In today’s real estate market, purchasing cash flow or investement real estate can be a sound strategy. In Crested Butte, much of our ski resort real estate offerings include condos and single family homes that can be rented out short term (vacation) and long term successfully. There are a lot of seemingly juicy cash-flowing real estate options in the market right now but with every good investment opportunity there are numerous issues to consider and pitfalls to avoid.
Buyers make mistakes all the time when it comes to purchasing a "cash-flowing" piece of real estate. Buying a cash-flow or investment property takes serious due diligence and a "no-emotions" approach in order to maximize the return on investment and minimize the risk.
Here are 4 things to avoid when buying cash flow real estate in Crested Butte Colorado.
1. Forgetting to account for the management fees, vacancy and maintenance costs in calculating cash flow. Rent – PITI is used to calculate positive cash flow. If you do not account for at least 10% property management, 10% vacancy and 10% maintenance then you could end up losing money over time. It is much more accurate to take 70% of Rent – PITI to calculate positive cash flow.
2. Owner manage and/or sign up with the wrong property managers. Many folks in Crested Butte use VRBO.com to market their rental properties. And, they use local property management firms to manage the place and clean it up after a tenant leaves. This "disconnect" can cause tenants to take advantage of the "hands off" situation – they don’t pay rent and they trash the place and it could have been avoided by obtaining good property managers. Do not be afraid to pay your managers well, they will allow you to sit back and generate passive income and look for more profitable deals.
3. Too many upgrades – Do not over do it with upgrades for rentals. You are not living in the home or flipping the home. Only do upgrades that will increase rent, get tenants faster and stay longer or prevent more costly upgrades. Peform upgrades right before you sell, not before you rent.
4. Buy something they would live in or a property located in their neighborhood– Most people are more comfortable investing in their own neighborhood because they can see and "feel" the property giving them a false sense of investment security. Avoid this inclination. Buy a cash flow property because the numbers make sense and you have multiple exit strategies, not because you are comfortable with the proximity to you. You should like the property because the numbers make sense and the ability to get out of it at some point exists.
Thanks for visiting today,
Channing Boucher
Visit My Crested Butte Real Estate Guide Today
Hello from Crested Butte,
Under the new ownership of CNL lifestyle properties, with the Muellers still at the operational helm, Crested Butte Mountain Resort has improvements slated for the coming season that include a remodel of the popular Ice Bar. The transformation will double the size of the existing restaurant, increasing capacity while maintaining the simple, intimate setting.
In addition, the resort has added a new base area Adventure Park for year-round play. The Adventure Park features an eco-friendly synthetic “ice” skating rink, bungee trampolines and a climbing wall, as well as a multi-lane, lift-served tubing hill for the winter. The lift-served tubing hill is located on warming house hill in front of the Crested Mountain condominium complex, in the area previously occupied by the adult learning area (which has moved to the same location as the children’s learning area), the Tubing Hill will be re-graded featuring a new tow lift and multiple tubing lanes. FUN!
The ice skating rink, made from Super-Glide synthetic ice, was recycled from the American Museum of Natural History in New York where it was part of a display on climate change.
The Crested Butte Ski and Ride School boasts a new beginner learning area for the upcoming season. The current kids’ area will be re-graded and expanded to include beginners of all ages. Both adult and children’s ski school lessons will operate out of the same area.
Book a winter trip to Crested Butte!
Channing Boucher
Visit My Crested Butte Real Estate Guide
Hello from Crested Butte,
The weekly average rate borrowers quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.17 percent, down from 5.19 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com. Rates for 15-year fixed mortgages fell to 4.57 percent from 4.59 percent, and 5-1 adjustable rate mortgages remained flat at 4.17 percent.
Thirty-year fixed mortgage rates varied by state. Colorado mortgages reflect a slighthly lower rate range: 5.14% to 5.15%.
In other mortgate related news, Colorado’s Division of Real Estate deactivated 4,500 mortgage brokers on Monday because they failed to meet new state requirements. The number of licensed mortgage brokers in Colorado was cut in half with the move. Read the details here.
Thanks for visiting,
Channing in Crested Butte
Visit My Crested Butte Real Estate Guide
