The Denver Examiner reported today that Colorado officials are investigating the state’s conservation easement tax credit program. Erin Toll, our director of Colorado’s Division of Real Estate, told lawmakers the program is "riddled" with fraud and there may be millions of dollars in questionable tax breaks. State lawmakers want to suspend the program.

Read more at this article.

Channing Boucher
Visit My Crested Butte Real Estate Guide

Hello from snowy Crested Butte,

FYI if you are Colorado property seller this Summer. Governor Ritter signed HB 1091 into law earlier this week.  The new law will cover all new residential construction and existing single-family and multi-family housing units offered for sale, transfer or rent. Beginning July 1, 2009, a seller of residential real property containing a fuel-fired heater or appliance, a fireplace, or an attached garage will be responsible for assuring that a carbon monoxide alarm is properly installed within 15 feet of the entrance to each room lawfully used for sleeping.  No person shall have a claim for relief against a property owner or their authorized agent if a carbon monoxide alarm is installed in accordance with the manufacturer’s published instructions. 

Thanks for visiting today!

Channing Boucher
Visit My Crested Butte Real Estate Guide

Good day from Crested Butte,

The 2008 National Ski Area Association’s (NSAA) National Demographic Study revealed serious gains in participation among skiers and snowboarders  aged 45 and over. During the last decade, the number of skiers and snowboarders aged 45 to 54 has increased from 14.0 percent to almost 20 percent; the proportion of skiers and snowboarders aged 55 to 64 has doubled from 4.6 percent to 9.2 percent; and the proportion of skiers and snowboarders aged 65 and over has also increased substantially, from 2.4 percent to 3.8 percent.

According to this NSAA study, "the loyalty and staying power of older participants has been a plus for ski resorts and has been a key driver of the success enjoyed by the industry in recent seasons. Last season the ski industry tallied a record 60.50 million skier visits nationally. The study also identifies a continuation of a “three-generation phenomenon” as the Baby Boomers (aged 44 to 62 in 2008) continue to participate in these winter sports, at the same time that persons young enough to be their children and grandchildren also take up skiing and riding, thus causing an overall broadening of the participant age profile."

Also, this year’s study indicates a continued increase in helmet usage. Overall,  43 percent of survey respondents were wearing a helmet when interviewed during the 2007/08, up steadily from 25 percent in 2002/03. Additionally, 30 percent of respondents owned a season pass this season. A total of 114,010 surveys were completed during the 2007/08 season at 83 participating ski resorts. The annual demographic study is available for purchase at nsaa.org.

These are interesting numbers considering the current economic upheaval and uncertainty.

Thanks for visiting,

Channing Boucher
Visit My Crested Butte Real Estate Guide

According to CBS Channel 4 in Denver, home prices in Colorado declined only 4% in recent months. Home prices across the country fell by their worst annual rate on record during the fourth quarter of 2008, but Colorado appears to be beating the recession. Overall home prices nationwide were down 18 percent compared to the last quarter of 2007. Of the 20 big cities that make up the index, Denver saw the smallest price drop with 4 percent. Worst off is Phoenix where home prices plummeted 34 percent year to year. Prices in Las Vegas fell 33 percent and San Francisco plunged 31 percent. Sellers in Denver are still readjusting their prices…..Read the rest of the article at CBS Channel 4’s web site

Thanks for reading today,

Channing Boucher
Visit My Crested Butte Real Estate Guide

Good day from Crested Butte,

The United States Senate unanimously passed a bipartisan amendment to the Economic Stimulus Bill creating a $15,000 tax credit for people who purchase a home in the next year.

Specifically, the Isakson-Lieberman amendment to the pending economic stimulus bill would provide a direct tax credit to any homebuyer who purchases any home. The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less. Purchases must be made within one year of the legislation’s enactment, and the tax credit would not have to be repaid.

The amendment would allow taxpayers to claim the credit on their 2008 income tax return. It also seeks to prevent misuse by only allowing purchases of a principle residence and by recapturing the credit if the home is sold within two years of purchase. The amendment would sunset the current $7,500 housing tax credit on the date of enactment.

While the final details of the Stimulus Bill are still being debated, this amendment represents a tremendous step forward in NAR’s efforts to stabilize housing markets around the nation.  Because of the efforts of REALTORS®, we expect the final Economic Stimulus Bill will contain several major housing provisions.  

Thanks for visiting today,

Channing Boucher
Visit My Crested Butte Real Estate Guide

Hello from Crested Butte,

It seems skiers and snowboarders are riding out the economic downturn by making a lot of turns at Colorado’s ski resorts. Colorado Ski Country USA reported today that total skier visits at its 22 member resorts were down only 7.7 percent during the first period of the 2008-09 ski season, defined as October 15, 2008 through December 31, 2008. However, this period does not include four days of the 2009 New Year’s week, when resorts experienced high, and in some cases record, volumes of guests.

"We know that skiers and snowboarders are dedicated to their sports and optimistic by nature," explains Melanie Mills, president and CEO of Colorado Ski Country USA. "While business is down compared to the last few record-setting seasons, we are seeing participation levels this year that exceed expectations and show strong performance in our sector of the travel industry."

Consistent snowfall, for which Colorado resorts are known, is one key factor affecting skier visits. History indicates that in a variable economy, snow conditions play an important role in influencing skiers. This past December, snowfall records were broken at Silverton, Crested Butte Mountain Resort, and Telluride. If you want to ski or ride, Colorado has it.

Thanks for visiting today,

Channing Boucher
Visit My Crested Butte Real Estate Guide