Posted by Erin Eddy
provided by
Montrose Association of REALTORS
Statistics for Ouray County Jan 1 - Sept. 30, 2008
TOTAL HOMES (includes new home sales)
Homes Sold 54
Total Price $19,456,400
Average Price $360,303
Median Price $300,000
Range in Price $25,000 - 1,200,000
COMMERCIAL PROPERTY
Units Sold 7
Total Price $1,512,800
Average Price $216,114
Median Price $185,300
Range in Price $52,500 - 623,000
VACANT LAND
Units Sold 19
Total Price $5,182,125
Average Price $272,743
Median Price $175,000
Range in Price $110,000 - 1,600,000
FARM & RANCH
Units Sold 1
Total Price $ 525,000
Average Price $ 525,000
Median Price $ 525,000
Range in Price $ 525,000
ALL PROPERTIES
Units Sold 81
Total Price $26,676,325
Average Price $329,337
Median Price $280,000
Range in Price $25,000 - 1,600,000
*This information is deemed reliable but not guaranteed.
Sunday, October 26, 2008
Saturday, October 25, 2008
Ridgway Soccer
Undefeated Ridgway High School soccer team to host regional playoff
Posted by Erin Eddy
www.ridgwayland.com
October 22, 2008
It will be a busy week and weekend for participants and fans for Ridgway High School sports.
Both the boys' soccer team and girls' volleyball team will enter their respective regional playoffs and tournaments this week
For the first time in recent memory, the Ridgway High School boys soccer team will host the first round of a region 3A contest against Aspen High School at the Solar Ranch soccer field. The game begins at 3 p.m. Wednesday, Oct. 22.
The Demons ended the season with a record of 9-1-3, undefeated in league play as they were led by coach Chuck Siefken.
The Ridgway team is now among 32 teams going into the state tournament, with Ridgway ranked 16th by the Colorado High School Activities Association. Should it defeat 17th-ranked Aspen on Wednesday afternoon, the Demons will most likely play top-ranked Colorado Springs Christian in that city on Oct. 25.
"We are definitely one of the smallest schools going into the tournament," said Ridgway Athletic Director Keith McCurdy.
The girls volleyball team, with a 7-10 record in league play, will compete in a regional shootout on Friday and Saturday, beginning at 3 p.m. (with the Ridgway game beginning most likely at 4 p.m.) at the Olathe High School gym.
The Ridgway volleyball squad is fourth-ranked in the six-team field in the Division 1A tourney.
— Douglas McDaniel, staff writer
Posted by Erin Eddy
www.ridgwayland.com
October 22, 2008
It will be a busy week and weekend for participants and fans for Ridgway High School sports.
Both the boys' soccer team and girls' volleyball team will enter their respective regional playoffs and tournaments this week
For the first time in recent memory, the Ridgway High School boys soccer team will host the first round of a region 3A contest against Aspen High School at the Solar Ranch soccer field. The game begins at 3 p.m. Wednesday, Oct. 22.
The Demons ended the season with a record of 9-1-3, undefeated in league play as they were led by coach Chuck Siefken.
The Ridgway team is now among 32 teams going into the state tournament, with Ridgway ranked 16th by the Colorado High School Activities Association. Should it defeat 17th-ranked Aspen on Wednesday afternoon, the Demons will most likely play top-ranked Colorado Springs Christian in that city on Oct. 25.
"We are definitely one of the smallest schools going into the tournament," said Ridgway Athletic Director Keith McCurdy.
The girls volleyball team, with a 7-10 record in league play, will compete in a regional shootout on Friday and Saturday, beginning at 3 p.m. (with the Ridgway game beginning most likely at 4 p.m.) at the Olathe High School gym.
The Ridgway volleyball squad is fourth-ranked in the six-team field in the Division 1A tourney.
— Douglas McDaniel, staff writer
Telluride Foreclosures
Posted by: Erin Eddy
www.ourayland.com
www.ridgwayland.com
Foreclosure Filings Up Throughout County
by Karen JamesOct 23, 2008
All Market Segments Affected
TELLURIDE – With two months remaining in the fiscal year, foreclosure filings in San Miguel County are up 47 percent compared to the 2007 year-end total, county records show.
The county has opened 28 foreclosure files since January, of which seven – or 25 percent – have occurred during the last three weeks.
The county opened a total of 19 files during fiscal year 2007.
“We’re already past last year and we’re just in the first month of the fourth quarter,” said County Treasurer, Public Trustee and Public Registrar Janice Stout. “I’m just amazed with the number we’ve had.”
Among the 19 filings in 2007, a total of six – about 32 percent – eventually sold in foreclosure auctions.
This year, two of the 28 properties have been sold at auction. Another three are scheduled to go to auction before the end of the year if they are not first withdrawn, cured or continued.
Despite the overall increase in filings, with so few sales scheduled in the next two months, 2008 foreclosure sales cannot outnumber those in 2007.
But considering that 12 foreclosure sales could take place by the end of next February if they are not somehow remedied, 2009 could run the risk of producing a bumper crop of foreclosures.
“Maybe 09 will be record sales,” Stout said.
Among this year’s 28 filings, 10 – or about 36 percent – have been withdrawn or cured. One more, a filing for the Rosewood Telluride Resort and Hotel, is on hold until further notice.
In June, Lot 129, LLC and West Galena Holdings, owned by New York City-based developer Aaron Honigman, filed for Chapter 11 Bankruptcy protection one day before the property was to appear on the auction block. As a result, a week-to-week stay of the foreclosure has been in place since then, which Stout will continue to impose until otherwise directed by the court.
Outstanding principal on the Rosewood deal, a pre-construction bridge loan, is $50 million.
“There does seem to be a rush of filings,” said Stout, adding that she believed the accelerated filing pace will continue if the economy remains in its current state.
That said, a relative few of those are likely to result in foreclosure sales if history serves as an accurate predictor.
The filings span across virtually all segments of the real estate market. They range from a fractional interest in Mountain Village with $40,000 in outstanding debt, to a Mountain Village Home against which two foreclosure filings worth a total of about $10.1 million have been made.
According to Stout, the first foreclosure was filed on a deed of trust where the home was put up as collateral to guarantee a loan to a business. The second foreclosure was filed on a mortgage on the home itself.
In between those extremes are filings for Hastings Mesa and Norwood homes, an Ice House condominium and two vacant lots in Mountain Village among others.
“It’s pretty much across the board,” Stout said.
She speculated that one reason for the steady rate of foreclosure filings over the past few weeks could be the passage of Colorado House Bill 08-1402. The bill, which took effect on Aug. 1, requires that mortgage lenders provide the direct telephone number of their loss mitigation departments, and that of the Colorado Foreclosure Hotline, to buyers in danger of being foreclosed upon at least 30 days before the relevant paperwork is filed.
Stout said she received no filings during the month of August as the law took effect, which probably created a backlog that is working itself out now.
“People that were living with a high amount of debt are going to be the first ones to go,” said Matthew Hintermeister, a real estate agent, who noted the presence of several multi-million dollar properties on the foreclosure list.
Hintermeister, past president of the Telluride Association of Realtors, speculated that when the Dow Jones Industrial Average plummeted nearly 3,000 points over three weeks toward the end of September, cash flow may have been disrupted for investors who, through margin accounts established with brokerage firms, had taken out loans using securities as collateral.
Although investors can borrow against the value of his or her securities through margin accounts, a minimum of equity must be maintained in them. If the value of the pledged securities were to fall far enough – as would likely have been the case during those tumultuous weeks – a “margin call” would require the borrower to sell off securities or deposit cash (cash that may have otherwise been paying the mortgage on a second home) or perhaps do both – in order to replenish the account equity.
The brokerage retains the right to sell the pledged securities and may not be required to consult the margin account holder before doing so, according to Investopedia.com, an investor education website owned by Forbes Media. In fact, the website goes on to state that the firm may also have the right to sell the securities before the investor has been given a chance to meet the margin call.
“It can happen incredibly fast,” Hintermeister said.
Hintermeister added that some Aspen area real estate brokers with whom he recently spoke told him that they are seeing people abandon large deposits – some worth hundreds of thousands of dollars – on projects that are still being completed.
“They’ve already told brokers that they are prepared to walk away because they don’t have the money to close,” he said.
“That’s big money to be walking away from.”
www.ourayland.com
www.ridgwayland.com
Foreclosure Filings Up Throughout County
by Karen JamesOct 23, 2008
All Market Segments Affected
TELLURIDE – With two months remaining in the fiscal year, foreclosure filings in San Miguel County are up 47 percent compared to the 2007 year-end total, county records show.
The county has opened 28 foreclosure files since January, of which seven – or 25 percent – have occurred during the last three weeks.
The county opened a total of 19 files during fiscal year 2007.
“We’re already past last year and we’re just in the first month of the fourth quarter,” said County Treasurer, Public Trustee and Public Registrar Janice Stout. “I’m just amazed with the number we’ve had.”
Among the 19 filings in 2007, a total of six – about 32 percent – eventually sold in foreclosure auctions.
This year, two of the 28 properties have been sold at auction. Another three are scheduled to go to auction before the end of the year if they are not first withdrawn, cured or continued.
Despite the overall increase in filings, with so few sales scheduled in the next two months, 2008 foreclosure sales cannot outnumber those in 2007.
But considering that 12 foreclosure sales could take place by the end of next February if they are not somehow remedied, 2009 could run the risk of producing a bumper crop of foreclosures.
“Maybe 09 will be record sales,” Stout said.
Among this year’s 28 filings, 10 – or about 36 percent – have been withdrawn or cured. One more, a filing for the Rosewood Telluride Resort and Hotel, is on hold until further notice.
In June, Lot 129, LLC and West Galena Holdings, owned by New York City-based developer Aaron Honigman, filed for Chapter 11 Bankruptcy protection one day before the property was to appear on the auction block. As a result, a week-to-week stay of the foreclosure has been in place since then, which Stout will continue to impose until otherwise directed by the court.
Outstanding principal on the Rosewood deal, a pre-construction bridge loan, is $50 million.
“There does seem to be a rush of filings,” said Stout, adding that she believed the accelerated filing pace will continue if the economy remains in its current state.
That said, a relative few of those are likely to result in foreclosure sales if history serves as an accurate predictor.
The filings span across virtually all segments of the real estate market. They range from a fractional interest in Mountain Village with $40,000 in outstanding debt, to a Mountain Village Home against which two foreclosure filings worth a total of about $10.1 million have been made.
According to Stout, the first foreclosure was filed on a deed of trust where the home was put up as collateral to guarantee a loan to a business. The second foreclosure was filed on a mortgage on the home itself.
In between those extremes are filings for Hastings Mesa and Norwood homes, an Ice House condominium and two vacant lots in Mountain Village among others.
“It’s pretty much across the board,” Stout said.
She speculated that one reason for the steady rate of foreclosure filings over the past few weeks could be the passage of Colorado House Bill 08-1402. The bill, which took effect on Aug. 1, requires that mortgage lenders provide the direct telephone number of their loss mitigation departments, and that of the Colorado Foreclosure Hotline, to buyers in danger of being foreclosed upon at least 30 days before the relevant paperwork is filed.
Stout said she received no filings during the month of August as the law took effect, which probably created a backlog that is working itself out now.
“People that were living with a high amount of debt are going to be the first ones to go,” said Matthew Hintermeister, a real estate agent, who noted the presence of several multi-million dollar properties on the foreclosure list.
Hintermeister, past president of the Telluride Association of Realtors, speculated that when the Dow Jones Industrial Average plummeted nearly 3,000 points over three weeks toward the end of September, cash flow may have been disrupted for investors who, through margin accounts established with brokerage firms, had taken out loans using securities as collateral.
Although investors can borrow against the value of his or her securities through margin accounts, a minimum of equity must be maintained in them. If the value of the pledged securities were to fall far enough – as would likely have been the case during those tumultuous weeks – a “margin call” would require the borrower to sell off securities or deposit cash (cash that may have otherwise been paying the mortgage on a second home) or perhaps do both – in order to replenish the account equity.
The brokerage retains the right to sell the pledged securities and may not be required to consult the margin account holder before doing so, according to Investopedia.com, an investor education website owned by Forbes Media. In fact, the website goes on to state that the firm may also have the right to sell the securities before the investor has been given a chance to meet the margin call.
“It can happen incredibly fast,” Hintermeister said.
Hintermeister added that some Aspen area real estate brokers with whom he recently spoke told him that they are seeing people abandon large deposits – some worth hundreds of thousands of dollars – on projects that are still being completed.
“They’ve already told brokers that they are prepared to walk away because they don’t have the money to close,” he said.
“That’s big money to be walking away from.”
Sunday, October 12, 2008
Planning commission adopts northwest area plan
Posted by Erin Eddy
by Margaret Henderson
Oct 07, 2008
RIDGWAY – After months of meetings and discussion between the town, developers, members of the community, and planning consultants, the Ridgway Planning Commission unanimously adopted the Northwest Area Master Plan on Sept. 30. The plan is intended to complement the current 1999 Land Use Plan and the 2000 Comprehensive Plan and, according to the document itself, “serve as a guidance document for future development of the Northwest Areas and future master planning of the Town.”
The plan will be presented to town council for further discussion.
The 13-page plan was intentionally kept basic, with the understanding that the zoning and subdivision processes will define the final parameters, explained Jack Petruccelli, chairman of the planning commission.
Under the basic parameters of the plan, the 138 acres of what is currently open pasture-type land stretching from Charles Street north to Eagle Hill could potentially be developed into 800 to 1,500 dwelling units over time for an estimated potential population of 2,850, with a growth goal of 5 percent per year. The area would contain a mixture of residential neighborhoods and open space with mixed-use neighborhoods that could include higher-density residential development alongside commercial units such as a neighborhood store or sandwich shop.
Transportation networks would be built on a grid-like system similar to the historic layout of Ridgway, except where geographic issues may need to be considered.
Trails, parks and open space would include pedestrian and bicycle routes connecting town to the new development and providing transportation throughout. More direction on open space provisions in the Northwest Area Plan will come from the Parks, Trails and Open Space Task Force that is currently working on an open space plan to be appended to the Ridgway Master Plan.
Additionally, the plan addresses issues of affordable housing and water and wastewater infrastructure demands.
The final draft of the Northwest Area Plan is available on the town’s website at www.town.ridgway.co.us/.
Increased Building Footprint Considered
The planning commission engaged in an informal discussion with Jack Young, owner of the Chipeta Sun Lodge, about future plans for a vacant lot at the east end of the Chipeta property. The 1998 platting process provided for a building footprint, which Young would like to increase by 2,500 square feet. The area is currently used for parking and equipment storage.
Town Manager Greg Clifton noted that the increased size of the proposed building was not of particular concern because it is in harmony with the architecture of the neighborhood. However, the increased building size also increases parking requirements. Town Engineer Joanne Fagan suggested that a currently unused utility easement be made accessible for additional parking. The commissioners also discussed visual impacts, impacts to County Road 23 and drainage. The commission agreed to work on further details with Young while considering how to proceed.
Young stated that he has no immediate plans to build on the lot but may proceed with the project when the economy improves.
by Margaret Henderson
Oct 07, 2008
RIDGWAY – After months of meetings and discussion between the town, developers, members of the community, and planning consultants, the Ridgway Planning Commission unanimously adopted the Northwest Area Master Plan on Sept. 30. The plan is intended to complement the current 1999 Land Use Plan and the 2000 Comprehensive Plan and, according to the document itself, “serve as a guidance document for future development of the Northwest Areas and future master planning of the Town.”
The plan will be presented to town council for further discussion.
The 13-page plan was intentionally kept basic, with the understanding that the zoning and subdivision processes will define the final parameters, explained Jack Petruccelli, chairman of the planning commission.
Under the basic parameters of the plan, the 138 acres of what is currently open pasture-type land stretching from Charles Street north to Eagle Hill could potentially be developed into 800 to 1,500 dwelling units over time for an estimated potential population of 2,850, with a growth goal of 5 percent per year. The area would contain a mixture of residential neighborhoods and open space with mixed-use neighborhoods that could include higher-density residential development alongside commercial units such as a neighborhood store or sandwich shop.
Transportation networks would be built on a grid-like system similar to the historic layout of Ridgway, except where geographic issues may need to be considered.
Trails, parks and open space would include pedestrian and bicycle routes connecting town to the new development and providing transportation throughout. More direction on open space provisions in the Northwest Area Plan will come from the Parks, Trails and Open Space Task Force that is currently working on an open space plan to be appended to the Ridgway Master Plan.
Additionally, the plan addresses issues of affordable housing and water and wastewater infrastructure demands.
The final draft of the Northwest Area Plan is available on the town’s website at www.town.ridgway.co.us/.
Increased Building Footprint Considered
The planning commission engaged in an informal discussion with Jack Young, owner of the Chipeta Sun Lodge, about future plans for a vacant lot at the east end of the Chipeta property. The 1998 platting process provided for a building footprint, which Young would like to increase by 2,500 square feet. The area is currently used for parking and equipment storage.
Town Manager Greg Clifton noted that the increased size of the proposed building was not of particular concern because it is in harmony with the architecture of the neighborhood. However, the increased building size also increases parking requirements. Town Engineer Joanne Fagan suggested that a currently unused utility easement be made accessible for additional parking. The commissioners also discussed visual impacts, impacts to County Road 23 and drainage. The commission agreed to work on further details with Young while considering how to proceed.
Young stated that he has no immediate plans to build on the lot but may proceed with the project when the economy improves.
Saturday, October 11, 2008
Be bear aware: activity increases in the fall
Posted by Erin Eddy
Denver
October 10, 2008
DENVER — Autumn is when black bears become more active, setting the stage for an increase in bear sightings and possibly encounters.
The Colorado Division of Wildlife (DOW) reminds residents and visitors that bears are searching for food to prepare for the denning season, which begins in early to mid-November. From now until then, bears will look for food wherever they can find it and the result may lead them closer to people or homes.
While Colorado's bears usually run, rather than confront humans, encounters do occur and people should know a few things about how to react, or better yet, how to avoid an encounter altogether by reducing the likelihood of attracting bears in the first place.
Human injuries caused by bears are rare in Colorado. In the few cases when people are injured, it usually involves food left where bears can find it, or is the result of a surprise encounter.
When bears become habituated to food left out by people, it can lead to conflicts, property damage, the possibility of injury and eventual destruction of the bear. The DOW has the following recommendations to reduce the chances of having a close encounter with a black bear on a homeowner's property:
n Do not feed wild animals (against the law to feed foxes, coyotes or bears) and play it safe if you have bird feeders in bear country. Feeding wildlife, including birds, can draw bears into an area. Once bears become comfortable in an area where they find food, they will continue to return. Bears have an amazing ability to recall areas where food was easily available from year to year. A "neighborhood bear" can become a real problem for homeowners and neighbors.
n Tips for safely feeding birds include: restrict feeding to when bears hibernate, which is generally November through April; avoid bird foods that are particularly attractive for bears, such as sunflower seeds, hummingbird nectar, or suet; bring feeders inside at night or suspend them from high crosswires; and temporarily remove feeders for two weeks if visited by a bear. Encourage your neighbors to do the same.
n Don't place garbage outside until pick-up day. A 1994 Arizona study discovered that putting trash cans out the morning of the pickup reduced bear visits from 70% to less than5%. Garbage or food items, including pet food, should be stored inside the garage or secure storage shed. Garage doors should not be left open except for very brief periods during the day.
n Keep your distance. If a bear shows up in your backyard, stay calm. From a safe distance, shout at it like you would to chase an unwanted dog. Children should understand not to run, approach or hide from a bear that wanders into the yard, but, instead, to back away and walk slowly to the house.
n Eliminate temptation. Bears that visit areas of human habitation are drawn there by food. Neighbors need to work together to reduce an area's appeal to bears.
For more information and tips on preventing conflicts with bears, go to DOW's webpage (http://wildlife.state.co.us) and the link Wildlife Species.
Denver
October 10, 2008
DENVER — Autumn is when black bears become more active, setting the stage for an increase in bear sightings and possibly encounters.
The Colorado Division of Wildlife (DOW) reminds residents and visitors that bears are searching for food to prepare for the denning season, which begins in early to mid-November. From now until then, bears will look for food wherever they can find it and the result may lead them closer to people or homes.
While Colorado's bears usually run, rather than confront humans, encounters do occur and people should know a few things about how to react, or better yet, how to avoid an encounter altogether by reducing the likelihood of attracting bears in the first place.
Human injuries caused by bears are rare in Colorado. In the few cases when people are injured, it usually involves food left where bears can find it, or is the result of a surprise encounter.
When bears become habituated to food left out by people, it can lead to conflicts, property damage, the possibility of injury and eventual destruction of the bear. The DOW has the following recommendations to reduce the chances of having a close encounter with a black bear on a homeowner's property:
n Do not feed wild animals (against the law to feed foxes, coyotes or bears) and play it safe if you have bird feeders in bear country. Feeding wildlife, including birds, can draw bears into an area. Once bears become comfortable in an area where they find food, they will continue to return. Bears have an amazing ability to recall areas where food was easily available from year to year. A "neighborhood bear" can become a real problem for homeowners and neighbors.
n Tips for safely feeding birds include: restrict feeding to when bears hibernate, which is generally November through April; avoid bird foods that are particularly attractive for bears, such as sunflower seeds, hummingbird nectar, or suet; bring feeders inside at night or suspend them from high crosswires; and temporarily remove feeders for two weeks if visited by a bear. Encourage your neighbors to do the same.
n Don't place garbage outside until pick-up day. A 1994 Arizona study discovered that putting trash cans out the morning of the pickup reduced bear visits from 70% to less than5%. Garbage or food items, including pet food, should be stored inside the garage or secure storage shed. Garage doors should not be left open except for very brief periods during the day.
n Keep your distance. If a bear shows up in your backyard, stay calm. From a safe distance, shout at it like you would to chase an unwanted dog. Children should understand not to run, approach or hide from a bear that wanders into the yard, but, instead, to back away and walk slowly to the house.
n Eliminate temptation. Bears that visit areas of human habitation are drawn there by food. Neighbors need to work together to reduce an area's appeal to bears.
For more information and tips on preventing conflicts with bears, go to DOW's webpage (http://wildlife.state.co.us) and the link Wildlife Species.
Subscribe to:
Posts (Atom)
