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Crested Butte Restaurant Businesses for Sale

Sunday, June 13th, 2010

Three of Crested Butte’s most successful restaurant businesses are for sale. Listed by Channing Boucher of Benson Sotheby’s International Realty, these profitable, established Crested Butte ventures offer superior locations and excellent reputations. View Channing’s web site for complete listing information. View Web Site 

The LoBar

 The LoBar
(view web page)
Offered at $395,000 

This is a very special opportunity to acquire a highly profitable restaurant and lounge venture in a very cool place to live and work. The LoBar is located in the heart of the commercial district in downtown Crested Butte at 303 Elk Avenue. 

The restaurant’s menu is eclectic and includes many popular sushi and Japanese influenced dishes. 

The LoBar transforms itself nightly into Crested Butte’s social hot spot. featuring great lounge and bar seating and private dining areas. The business is ideally suited for it’s market, enjoying a loyal installed base of local customers as well as a prominent national reputation as the place to patronize when in Crested Butte. 

The financial results reflect a business in command of its market. Purchase prices includes extensive leasehold improvements plus all of the fixtures, furnishings and equipment. Also included is seller training and consulting, marketing collateral, brand, menus and trade secrets.  Business summary and financials provided upon request and execution of a NDA. 

The Timberline

The Timberline Restaurant
(view web page)
Offered at $499,000 

The Timberline Restaurant is located in the heart of downtown Crested Butte on the corner of Second Street and Elk Avenue. Built in 2000, the location offers seating for 44 diners and 12 bar patrons downstairs in the bistro. The upstairs main dining room can comfortably seat 68 people, with elevator access available. The sunny sidewalk patio offers seating for 15, for larger groups the creekside deck has seating for 45 with views of Mount Crested Butte and Paradise Divide. 

During the winter of 2010 the restaurant added a bakery to offer baked goods and breakfast items. Purchase price includes extensive leasehold improvements plus all of the fixtures, furnishings and equipment. Also included is seller training and consulting, marketing collateral, brand, menus and trade secrets.  Business summary and financials provided upon request and execution of a NDA.

LeBosquet and Why Cook? Deli

LeBosquet and Why Cook? Deli
(view web page)
Offered for $ 1,595,000 (real estate included) 

This opportunity is a rare find for the serious restaurateur or business person looking to capitalize on the fastest growing Colorado ski and summer resort market Crested Butte, Colorado. Imagine owning an award-winning restaurant and upscale bar in an intimate and contemporary mountain setting with a professionally designed kitchen. 

Additionally, this offering includes a separate gourmet catering and take-out deli business immediately adjacent to the restaurant. This business shares the same kitchen and storage infrastructure. The sellers are retiring from a successful 35 year restaurant career in Crested Butte. The recent economic surge is due to the highly publicized 2004 sale of Crested Butte Mountain Resort to the owner-operators of Okemo and Mt. Sunapee ski areas in Vermont. 

Located in a busy shopping and services district – The Majestic Plaza – of Crested Butte. Crested Butte Center for the Arts is across the street, the Majestic Theatre, The Daily, Clarks Market and ski resort shuttle stop are closeby. Large PUD parking lot, ADA accessible and bonus 700 sq. ft exclusive use patio for outdoor seating included. 

Real Estate Included
Unit 141 and Unit 142
Majestic Plaza
(Price Includes Real Estate and Both Businesses, FF&E, Inventory)

Big Price Reduction at Hidden Mine Ranch

Tuesday, June 8th, 2010

Originally listed for $549,000 Now Available at $309,000

View This Property’s Web Page

One of the nicest Hidden Mine Ranch lots available, and yet priced well below all others! See it to believe it, this one is special. Lot 12 features an incredible building site nestled in your private aspen forest. The spectacular views are complimented by the Colorado sunshine. Enjoy sunny meadows and fields of wildflowers.

Hidden Mine Ranch offers all of the amenities one would expect from a special ranch community located so close to a world class winter/summer resort like Crested Butte.

Take advantage of alpine and nordic skiing, biking, snowmobiling, hiking, climbing peaks, fishing…you name it, you can do it.

Hidden Mine Ranch includes 500 acres of common space with private access to National Forest Land and Whetstone Mountain.

All of this and Hidden Mine Ranch is only two miles to the Town of Crested Butte.

New Listing at Golf Villas at the Crested Butte Country Club

Monday, May 24th, 2010

Newly listed by Channing Boucher and Benson Sotheby’s International Realty in Crested Butte Colorado!

View this property’s web page

View this property’s 360 virtual tour

The perfect mountain getaway at a very compelling price. 10 St. Andrews Circle is a well appointed, well maintained luxury condo located at Skyland’s Golf Villas neighborhood and the Crested Butte Country Club.

Relax on either of the two decks and take in the stunning mountain views after a round of golf.

Take advantage of the low maintenance, easy access to golf, tennis, fishing and world class skiing at Mt Crested Butte a few minutes away.

Bask in the Colorado sunshine pouring in from the south facing windows and decks.

This home will serve you and your family’s Crested Butte vacations for years to come.

Offered for $399,000

Details:
1254 sft.
2 bedrooms
2.5 bathrooms
240 sft. heated garage
Updated kitchen, bedrooms and baths
Hardwood floors and tile
Fireplace
Vaulted ceilings
Beautiful landscaping
Great location, easy access to Town, the National Forest, the golf course, the country club and ski resort!

Summer Art Events in Crested Butte Shaping Up

Wednesday, May 19th, 2010

Art Events Schedule for Summer/Fall 2010

The visual arts are a permanent part of the Gunnison-Crested Butte, Colorado’s unique vibe. The communities have long celebrated creativity during three major art festivals set against the beauty of the Colorado Rockies: 38th annual Crested Butte Arts Festival, 37th annual Gunnison Art in the Park, and 22nd annual The People’s Fair. There is no admission charge for the festivals or gallery walk evenings held once a month.

Two well-respected arts centers—Gunnison Arts Center and Crested Butte Center for the Arts—also bring a wealth of cultural offerings and art exhibits to the communities throughout the year. Visit www.GunnisonArtsCenter.org and www.CrestedButteArts.org.

Schedule of Art Events

May 7, June 4               First Friday Gallery Crawl & Music, Gunnison

June 24                         ArtWalk Evening, Crested Butte

July 2                            First Friday Gallery Crawl & Music, Gunnison

July 11                          AWE Fest – Artists of the West Elks Festival, Elk Avenue, Crested Butte

July 16 – 18                  Rocky Mountain Plein Air Painters National Show, Crested Butte

July 25                          37th Annual Gunnison Art in the Park, Legion Park

July 29                          ArtWalk Evening, Crested Butte

July 31 – August 1        38th Annual Crested Butte Arts Festival, Elk Avenue

August 6                       First Friday Gallery Crawl & Music, Gunnison

August 15                     AWE Fest – Artists of the West Elks Festival, Elk Avenue, Crested Butte

August 21                     High Octane Arts & Crafts Festival, Legion Park, Gunnison

August 26                     ArtWalk Evening, Crested Butte

September 3                 First Friday Gallery Crawl & Music, Gunnison

September 4 – 5           22nd Annual The People’s Fair, Elk Avenue, Crested Butte

September 23               ArtWalk Evening, Crested Butte

October 1                     First Friday Gallery Crawl & Music, Gunnison

First Friday Gallery Crawl & Music, Gunnison, First Fridays All Year

To kick off each month right, enjoy great art in Gunnison at the First Friday Gallery Crawl & Music from 5 – 7 p.m. Refreshments, on-site artists and great socializing are highlights. Call Gunnison Gallery at (970) 641-6111 for participating businesses and more information.

ArtWalk Evenings, Crested Butte, June 24, July 29, August 26 & September 23

To wrap up the month in style, from June to September, Crested Butte’s ArtWalk Evenings bring art enthusiasts on a tour of the galleries on the last Thursday evening from 5 – 8 p.m. Light refreshments, music and on-site artists are featured at many of the locations. For a list of participating galleries, go to www.awearts.org.  

AWE Fest, Crested Butte July 11 & August 15

The Artists of the West Elks will hold two AWE Fests this summer, showcasing members work in conjunction with the Crested Butte Farmers’ Market on two Sundays. The festivals will be held on Elk Avenue from 9 a.m. – 3 p.m. For more information, go to www.awearts.org.

Rocky Mountain Plein Air Painters National Show, July 16 – 18

Approximately 50 outdoor landscape painters will be in the Crested Butte area for approximately 10 days to create works of art and participate in a large gallery show at Oh-Be-Joyful Gallery on July 16 – 18. There will be various events for the public to interact with the artists. For information, contact Crested Butte’s Oh-Be-Joyful Gallery, (970) 349-5936 or visit www.rmpap.org/.  

37th Annual Gunnison Art in the Park, July 25

Gunnison’s Legion Park serves as the backdrop for this annual art extravaganza organized by the local chapter of American Association of University Women (AAUW). On July 25, from 9 a.m. – 4 p.m., approximately 60 artists will exhibit and sell their creations during this juried event. Live entertainment, activities for kids, and food and beverage booths also are part of the fun. 

Proceeds from the event benefit AAUW’s local scholarship program for nontraditional students attending Western State College in Gunnison; AAUW’s national education foundation; and a local project that is selected annually. For more information, contact Carol Bennett at (970) 641-4230.

38th Annual Crested Butte Arts Festival, July 31 – August 1 

The Crested Butte Arts Festival (CBAF) is one of the biggest weekends of the summer, drawing world-class artists from all 50 states and several international exhibitors.  The festival recently was ranked the 35th best fine art and fine craft show in the country by the “Arts Fair Sourcebook,” the definitive guide to art festivals, and is listed as one of the Harris List’s top five fine art and craft shows in Colorado. 

Open-air booths line the three-block center of Crested Butte’s National Historic District from 10 a.m. – 5 p.m. both days, featuring 185 artists who are selected through a very competitive jury process. New this year is a culinary arts demonstration tent. Returning favorites are an art auction, a hands-on “Art Alley” for kids ages 2 – 12, demonstration tent with exhibiting artists demonstrating their craft, culinary court, beer and wine pavilion, and live entertainment. For more information and a list of exhibitors and performing artists as the festival draws near, call (970) 349-1184 or visitwww.crestedbutteartsfestival.com.

High Octane Arts & Crafts Festival, Gunnison, August 21 

The Gunnison Country Chamber of Commerce invites arts and crafts lovers to experience the High Octane Arts & Crafts Festival being held in conjunction with the Gunnison Car Show on Aug. 21. The festival showcases arts and crafts by approximately 80 artisans from around the region and will be held from 9 a.m. – 4 p.m. in Legion Park, located across the street from Jorgensen Park where the car show will be held. Great food and fun for the whole family are on tap. Call (970) 641-1501 or visit www.gunnisonchamber.com.

22nd Annual The People’s Fair, September 4 – 5

The Saturday and Sunday of Labor Day weekend marks the return of The People’s Fair in downtown Crested Butte. Hundreds of locals and visitors will stroll Elk Avenue on Sept. 4 and 5 from 9 a.m. to 4 p.m. to take in this homespun cultural experience and to soak in the last of the high-country summer. The People’s Fair features an eclectic mix of booths showcasing regional arts and crafts, collectibles and antiques, and preserved foods from local gardens as well as live music, a tasty fair food, and nonprofit organization booths selling books, CDs, baked goods and more. The festival coincides with the annual Labor Day Sidewalk Sale on Elk Avenue, making the day a shopper’s delight! 

Since 1988, The People’s Fair has been made possible by the volunteer efforts of the artist members of The Paragon Gallery, a cooperatively owned arts and crafts gallery in downtown Crested Butte, located at 132 Elk Ave. For more information, contact The Paragon Gallery at (970) 349-6484.

Visitor Information & Personalized Vacation Packages

To find out more about Gunnison-Crested Butte events and attractions or to book personalized vacation packages, call the Gunnison-Crested Butte Tourism Association’s official reservations center at (800) 814-8893 or visit www.GunnisonCrestedButte.com. During the summer and fall, air access to the Gunnison-Crested Butte Regional Airport is provided by United Airlines.

About Gunnison-Crested Butte, Colorado

Gunnison-Crested Butte is nestled among almost two million acres of pristine wilderness in southwest Colorado. Winter sports enthusiasts know the area for its world-class alpine skiing and snowboarding at Crested Butte Mountain Resort, snowmobiling, cross-country skiing, snowshoeing and ice fishing. Gunnison-Crested Butte is also a haven for outdoor summer activities. In the warmer months, visitors can choose from recreational activities such as hiking, climbing, mountain biking, boating, whitewater rafting, kayaking, fly-fishing, camping and horseback riding. Year-round visitors enjoy distinctive restaurants, unique shops and stimulating cultural opportunities, and have a wide range of lodging options — from rustic inns to guest cabins and bed-and-breakfasts to full-service resort hotels. 

Gunnison, county seat and a real western town, is home to the Gunnison-Crested Butte Regional Airport, Gunnison Whitewater Park, Gunnison Valley Observatory, Pioneer Museum and Western State College, which offers bachelor’s and master’s degrees in liberal arts and sciences and pre-professional fields. Both Crested Butte and Gunnison have thriving historic central business districts packed with shopping and dining opportunities. 

Recognized as the “Official Wildflower Capital of Colorado” by the Colorado Legislature and one of the National Trust for Historic Preservation’s “Dozen Distinctive Destinations” in 2008, Crested Butteis 28 miles from Gunnison and the site of rich mining, ranching and skiing heritage and home to the Crested Butte Mountain Heritage Museum and Mountain Bike Hall of Fame. Only three miles up the road is the resort village of Mt. Crested Butte, home to the ski area, an active base area, the area’s conference center, and outstanding hiking and biking trails. 

In Gunnison County, visitors will find the Curecanti National Recreation Area, where dinosaur fossils were recently discovered; the Blue Mesa Reservoir, Colorado’s largest body of water and home to the largest Kokanee salmon fishery in the United States; and The Black Canyon of the Gunnison, one of our country’s newest national parks. Gunnison County includes the quaint and historic towns of Pitkin, Gothic, Tin Cup, Marble, Powderhorn, Almont and Crystal, plus the better-known communities of Gunnison, Crested Butte and Mt. Crested Butte. Gunnison County is part of the West Elk Loop and Silver Thread Scenic & Historic Byways.

Back on Market at $100,000 Price Reduction

Thursday, May 13th, 2010

109 4th Street in Crested Butte – Now Listed for $1,550,000

View This Property’s Web Page

This luxury home in the Town of Crested Butte offers it all in an exceptional and rare home that reflects the attention to detail and the integrity of workmanship of long-time local builder John Hatlem.

The floor plan includes a gourmet kitchen with Mt. Crested Butte views and eastern light, 3 bedroom suites, a great room, a custom fireplace, dining room and powder room, a bonus family room, a big deck with Paradise Divide mountain views and a 4th bedroom and bathroom above the detached garage.

Architectural and design features include 9 foot ceilings on the first floor, 15 foot vaulted ceilings in the great room and master suite, hand crafted antique reclaimed trusses, brazilian walnut flooring, custom cabinetry and integrated appliances. The showers and baths are exquisitely tiled.

Enjoy the comfort and efficiency of the 10 zone in-floor heat system (including the garage), hot water recirculation, custom interior trim and doors and the integrated sound and data system throughout the home.

Offered at $1,550,000

4 bedrooms
3 bathrooms
2 half bathrooms
Bonus family room
Detached garage

LoBar Restaurant & Lounge for Sale at Greatly Reduced Price

Thursday, May 13th, 2010

View Business for Sale Listing Information Here

This is a very special opportunity to acquire a highly profitable restaurant and lounge venture in a very cool place to live and work. The LoBar is located in the heart of the commercial district in downtown Crested Butte at 303 Elk Avenue. The restaurant’s menu is eclectic and includes many popular sushi and Japanese influenced dishes.

Originally listed for $695,000, the business is now available for $395,000.

The LoBar transforms itself nightly into Crested Butte’s social hot spot. featuring great lounge and bar seating and private dining areas. The business is ideally suited for it’s market, enjoying a loyal installed base of local customers as well as a prominent national reputation as the place to patronize when in Crested Butte.

The financial results reflect a business in command of its market. Purchase prices includes extensive leasehold improvements plus all of the fixtures, furnishings and equipment. Also included is seller training and consulting, marketing collateral, brand, menus and trade secrets.

Business summary and financials provided upon request and execution of a NDA.

The latest issue of Ski Magazine features THE LOBAR in Crested Butte in the headliner picture for the article, “Ten Best Ski Area Sushi Restaurants.”  See Article Here

 Offered at $395,000

1st Quarter of 2010 Better Than Last Year, Boot Jack Ranch Sells for $46.5 million

Thursday, April 29th, 2010

View This Month’s Crested Butte Real Estate Insider News Issue #4 – 2010

Crested Butte real estate sales activity has picked up in 2010. In fact, twice as many homes, condos and townhomes have sold year-to-date compared to the 1st quarter of 2009.

41 properties have closed in 2010 versus 22 sales during the same time frame in 2009.

This represents over $18 million worth of Crested Butte real estate investment in 2010. Additionally, there are 18 properties under contract representing $11 million. Considering where we were last year at this time, these are promising numbers.

What is causing this uptick in deal making? For starters, the high inventory of available properties has forced prices downward. Last year at this time, the average sales price on a home was $506,000. Now, the average residential sales price is hovering around $433,000.

And, mortgage rates remain very attractive. Saavy buyers, some fearful of looming inflation in the U.S., are taking advantage of low interest rate, long term loans and scooping up some very nice real estate. Some of the best deals are located in Mt. Crested Butte right now. In particular, condos in and around the ski resort are selling. (45 sales since July 2009 and 16 so far this year).

In spite of the cheap money available to home buyers, it is interesting to note that of the 41 deals this year, half were “all-cash” transactions. I expect this trend to continue this year.

Last year, the majority of the $108 million in real estate deals we realized occurred in the last 5 months of the year. With the traditionally strong summer and fall selling seasons yet to begin in Crested Butte, the real estate market is on track to beat 2009’s performance.

In other Colorado real estate news, Telluride’s Sotheby’s office just closed what will go down as one of the biggest real estate deals in this state’s history. The Boot Jack Ranch in Pagosa Springs was sold this past week for $46.5 million to a Texas billionaire. The figure beats the $43 million paid by New York money manager Lewis A. Sanders for a 10-bedroom contemporary and guest house in Aspen last summer, a deal believed to set the U.S. record last year. Check out the photos from this amazing Colorado ranch property.The summer music season in Crested Butte is shaping up to be one of the best ever. The Crested Butte Music Festival just announced an awesome line up of summertime events.Follow this link to plan your summer vacation’s musical fun. New for this year is Crested Butte’s first ever bluegrass festival. The Bluegrass in Paradise Festival goes off July 6-8 and features the likes of musical greats: Drew Emmitt, Blue Highway, Bearfoot, Springcreek Bluegrass, Ralph Stanley and The Clinch Mountain Boys, Billy Nershi and Shannon Whitworth.

Finally, the Town of Crested Butte has put over 300 acres of Slate River valley land under contract. Known as the Kochevar Parcel, the Town of Crested Butte aims to lock up this huge chunk of prime Colorado dirt and manage it as recreational open space. The purchase price is $5.3 million.

The Town teamed up with the Crested Butte Land Trust and GOCO (Great Outdoors Colorado) and the Trust for Public Lands (TPL) – a national organization that is fronting the money for the purchase. Learn more at the Crested Butte News.Thanks for reading today!

Channing Boucher
Broker Associate

Contact Channing at 970-596-3228 or via his website.

Benson Sotheby’s International Realty | 433 Sixth Street | Crested Butte | CO | 81224

New Listing at 127 Butte Avenue in Crested Butte

Tuesday, April 20th, 2010

 

View 360 Tour

Located just 4 Blocks from Downtown Crested Butte, at the end of 2nd Avenue, the views from every room at 127 Butte Avenue are stunning.

Featuring 2nd story living, 127 Butte Avenue offers the perfect floor plan for this location and lifestyle.

Enjoy 5 bedrooms, 3 full and 1 1/2 bathrooms and a detached accessory set up as a back office/studio with a 1/2 bath.

There are gorgeous vaulted ceilings in the main living room feature hand-hewn, custom scissor trusses, a rock fireplace, a wrought iron chandelier and French doors that lead to the large second story deck.

The second living room at the southern end of the home is perfect for an office, beds or a study.

Both the main living room and deck showcase stunning, protected views of Mt. Crested Butte and the Slate River Wetlands open space, Teocalli, Whiterock, and Gothic Mountains.

The home’s master bedroom includes tall ceilings, dramatic views, double doors to the awesome flagstone patio and backyard that includes a garden and a back gate to a nordic ski trail that wraps itself around Crested Butte’s coveted Kapushion Annexation.

The kitchen features alder cabinets, concrete counter tops, a apron sink, Wolfe range & Bosch appliances & a beautiful custom wood bar.

The large dining area features a copper sink, a wet bar, glass uppers, and a wine rack & mini-Fridge.

Offered for $1,995,000

The Details:
2944 Sq. Ft
5 Bedroom
3 Full, 2 Half Baths
252 Sq. Ft., 1 Car Attached/heated garage & heated driveway
Detached guest house
Flagstone patio
Chocolate glazed alder doors
Antique oak flooring
Honed absolute granite slab countertops, slate & custom tile baths.
Radiant in-floor heat
Reclaimed wood and Artisan detail throughout.
Central vacuum

Exclusively Marketed by Channing Boucher of Benson Sotheby’s International Realty in Crested Butte.

Newly Listed in Meridian Lake Park in Crested Butte

Wednesday, April 14th, 2010

View 360 Tour

View Complete Photo Gallery

Excellent opportunity in Meridian Lake Park. Well maintained and completely remodeled inside and out.

71 Meridian Lake Drive sits on a oversized .54 acre parcel located in a mature Crested Butte neighborhood bordering National Forest lands and Snodgrass Mountain.

Enjoy stunning views of the ski slopes on Mt Crested Butte, easy access to town, and a beautifully landscaped yard that features a waterfall stream and pond with a flagstone patio.

The kitchen features a gas range and stove, granite counters and very cool river rock detail at the bar.

The home’s vaulted ceilings are anchored by beautiful hardwood and tile floors with in-floor radiant heat.

The woodstove provides another great source of warmth for this mountain home.

The master suite bathroom features stone counters and a dual-head shower.

Relax in your hot tub at the end of the day and take in the views from the wraparound covered deck
and privacy fence.

Meridian Lake owner amenities include private fishing, tennis and skiing out the door!

The updated exterior includes a new aluminum roof, new river rock detail and chinked cedar siding detail.

Offered for $549,000

Details:
1554 sft.
3 bedrooms
3 bathrooms
552 sft. Garage
Updated kitchen, baths
Hardwood nnd tile floors
Wood-burning stove plus In-floor radiant heat
Flagstone patio
Wraparound, covered decks
Hot tub with privacy fence
Beautiful landscaping with irrigation
Great location, easy access to Town and ski resort!

Sales of Vacation Homes Rose in 2009

Wednesday, April 7th, 2010

According to a survey report by the National Association of Realtors, sales of new and previously owned vacation homes rose last year, while investment-home sales dropped,

NAR’s 2010 Investment and Vacation Home Buyers Survey includes responses from residents in 1,930 randomly selected households who bought residential real estate in 2009. The association conducted the survey in March 2010 and controlled for age and income.

Vacation-home sales increased 7.9 percent to 553,000 in 2009 from 513,000 in 2008 [3], the report said. The market share for vacation homes rose to 10 percent, from 9 percent in 2008.

“The typical vacation-home buyer is making a lifestyle choice, with nine out of 10 saying they intend to use the property for vacations or as a family retreat. Investment buyers primarily seek rental income,” said Lawrence Yun, the association’s chief economist, in a statement.

Sales of primary residences grew by 7.1 percent, to 4.04 million in 2009 from 3.77 million in 2008, the report said. With that increase, the share for second homes overall dipped to 27 percent in 2009, compared with 30 percent in 2008.

“First-time buyers were at record levels in 2009, with fewer sales of second homes,” Yun said.

A quarter of vacation-home buyers plan to rent out their homes to others, compared to 59 percent of investment-home buyers. Only 19 percent of investment-home buyers hope to use the property as a family retreat. Slightly more investors (18 percent) than vacation-home buyers (13 percent) bought the property for a relative or friend to use.
According to the U.S. Census, the national vacancy rates in fourth-quarter 2009 were an estimated 10.7 percent for rental housing and an estimated 2.7 percent for homeowner housing. While the homeowner rate was not statistically different from the fourth quarter of 2008, the rental vacancy rate was 10.1 percent higher.

“The rental market is soft due to the economy, and investors realize it is much higher risk to secure occupancy in their rental property than in prior years,”said Alexis Eldorrado, managing broker of Eldorrado Chicago Real Estate.

The median price for vacation homes rose 12.7 percent to $169,000, and 29 percent paid in cash. Even with a rise in vacation-home prices, some Realtors say their clients think now is a good time to buy.

“Ultimately (a vacation home) has been a dream for many, and with the sudden shift in market prices due to the economy, many people realize it is a good time to buy. People are buying today at prices from 10-12 years ago,” Eldorrado said.

Regionally, half of vacation homes sold in 2009 were in the South, 21 percent in the West, 17 percent in the Midwest and 12 percent in the Northeast, the report said.

“I would say that (NAR’s) data is pretty close to being spot on, with a couple of exceptions,” said James Crumbaugh, CEO of Allison James Estate and Homes, which does business in 11 states and deals mostly in waterfront properties, beachfront condos, golf course communities and planned resort communities.

Those exceptions are Florida and California — both areas whose prices Yun said have become especially attractive for buyers over the past year.

“Prices are going up, and as a result the investors have determined that the bottom has passed. We are actually starting to see an inventory problem on the horizon for Southern California and Southwest Florida, so prices should continue to climb,” he added.