Realtor | Corey Dwan

Cell 970.596.3219


November 2009 - Market Report

Hi Everyone,

Well, no one said it would be easy. Unfortunately, the Forest Service has just notified CBMR that their request to enter into the final NEPA process for the Snodgrass Expansion has been declined. The reason? Lack of community support. Now, being a real estate agent and active local in Crested Butte for the last five years I have heard plenty from both sides. Myself and many many others are under the impression there is much more support for Snodgrass than against. The underlying problem I believe comes from CBMR's lack of presenting that support through the proper channels and especially to the Forest Service whereas the opponents have been very loud and successful in their representation. This rejection has been a real slap in the face as well as a wake up call for the resort to be much more aggressive in the future months to have this decision reversed. I personally think this may be a blessing in disguise as I think the resort needs to focus on it's current on mountain and base area amenities as to keep the visitors we have currently as well as attract new visitors. My initial thought of this decision on the Crested Butte market is of course negative and may drop values a little further as some fear may spread through the valley with some sellers. In the long term I believe this will be a brief moment of reductions as buyers continue to purchase the best deals in the valley and continue to slowly lower our inventory.

Please see the attached Rejection Letter from the Forest Service and a letter from CBMR expressing their dedication to having this decision reversed. There are a couple of links in the CBMR letter for you to show your support for the expansion. Please take a few moments to do so as this support is very important for CBMR to present to the Forest Service. I have also attached some sales update sheets with sales for the last 12 months and a Market Analysis for 2009. As you can see we had an amazing summer as much of our inventory was purchased. I hope to see strong sales this winter as well regardless of the initial rejection for the Snodgrass Expansion. If you have any questions please email me as I would be happy to discuss everything with you further.

Best Regards,

Benson Sotheby's International Realty
P.O. Box 210
433 Sixth Street
Crested Butte, CO 81224
970-596-3219 Cell
970-325-3219 World Wide Cell
970-349-6653 Office
970-797-1810 Fax


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