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Uncategorized | dkitchell August 7, 2011 | 
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Uncategorized | dkitchell July 31, 2011 |
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Uncategorized | dkitchell July 24, 2011 |
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The Fryingpan is BACK!!
With flows at less than half of what they were just a few days ago we are seeing fantastic conditions locally. The water is Gin clear and a bit high still but a huge improvement from all of June and most of July.
It appears that there is less emphasis on mysis and that the dry flies are taking big fish even in the lower river.
Stop in to Taylor Creek to check on the latest flies, but I did well with standard fryingpan fare of mysis / baetis dual fly combo.
Click if you are looking for Snowmass Real Estate or if you want a Free online life insurance quote.
Family Fun, Fishing, Uncategorized | dkitchell July 22, 2011 |
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Hey all,
My new feature is the Colorado Rockies 4X
1. Carlos Gonzales should sit out. This is a franchise player who is making a ton of money and he needs to be fully healed before going back in.
2. I am impressed with Dexter Fowlers bat as of late – multiple triples. Go Dex! I did not think that he had it in him.
3. Kimbrel – how about that stance! Crazy but he gets it done.
4. The Rockies really need to put together a string of wins on this nine game away stint. With virtually no consistency since the beginning of the season the Rockies have to step it up, with or without CarGo.
If you need a Free Online Life Insurance Quote, Click the link.
If you are looking at Aspen Real Estate, Click the link.
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Uncategorized | dkitchell July 17, 2011 |
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National —
On September 30, the cost of a mortgage could rise significantly. If this happens, many of your clients run the risk of being priced out of the American Dream of home ownership. Even worse, this could hold back the housing recovery.
We need you to share your market expertise with Congress. Click on the link below to send a letter urging them to make the current mortgage loan limits for FHA and GSEs permanent. https://realtorparty.realtoractioncenter.com/site/Advocacy?pagename=homepage&page=UserAction&id=1653&autologin=true&AddInterest=1064
State —
2011 Legislative Review
Each year, CAR produces a Legislative Review to keep our members abreast of that year’s major legislative issues. This year, the Review contains 11 bills, covering housing, land use, regulatory, tax and water issues. The Review gives you a thumbnail sketch of some of the issues we carried to benefit our industry, and some potentially injurious legislation that we successfully opposed. We invite you to look over this year’s Review and share it with your colleagues and clients. We would also like to thank the members of our Legislative Policy Committee, who’s dedication to our industry made it possible to have such a successful legislative session! Click here to view the 2011 Legislative Review.
2011 Capitol Connections and Calls for Action
The 2011 legislative session is in full swing. CAR will once again be publishing a weekly update of legislative activity impacting Colorado REALTORS® through the online Capitol Connection newsletter. We would also encourage you to keep an eye out for periodic Calls-for-Action should you be asked to convey the REALTOR® position on critical legislation. Please ensure that you receive these important updates by having your IT department whitelist our notifications. Not sure you’re signed up to receive communications from government affairs? Sign up here
Aspen —
Private rentals may be subject to tax collections
Aspen homeowners who offer their properties as vacation rentals may be required to pay sales and lodging taxes under a plan being considered by the Aspen City Council. The homeowners may also need to pay for an annual business license and a related permit.
Aspen officials are inventorying hundreds of vacation rentals in order to bring them into compliance with current and potentially revised rules. The city finance department estimates that the government is losing out on nearly $100,000 in sales and lodging taxes because property owners fail to pay them.
Developer sues to halt Dancing Bear foreclosure
A foreclosure auction of Aspen’s Dancing Bear project is scheduled for July 3, but the developer has filed a lawsuit seeking a halt to the sale.
Tom DiVenere’s DB Capital Holdings and related companies accuse lender West LB of bad faith and predatory lending practices. If the sale is not stopped, the Dusseldorf, Germany-based bank, which is owed $48 million on the project will submit its minimum required bid to the county by Friday afternoon.
The Dancing Bear is a fractional ownership club located on Monarch Street in downtown Aspen. The first phase, across the street from Wagner Park, was completed in early 2009. The second phase, at the site of the former Chart House restaurant, was partially completed when construction came to a halt in the summer of 2009.
Historic cabins prove difficult to sell
The Deep Powder cabins, part of Aspen’s lodging inventory for about 50 years until being displaced by the redevelopment of the Limelight Lodge, have proven to be of little value in the modern economy.
The city saved two of the cabins and has been looking for local, preservation-minded buyers without success since 2006. After no one local could be found, the cabins were listed on PublicSurplus.com, an eBay-like website for government property. The two cabins sold online for $500.99 and $661.
Adding insult to injury, the buyer of the more expensive cabin backed out of the purchase after costs and permitting for moving the cabin across state lines proved to be prohibitive.
Judge rules Jerome owners exempt from RETT
Pitkin County District Court Judge Gail Nichols ruled that the Hotel Jerome’s current ownership is not subject to Aspen’s real estate transfer tax because they assumed ownership through a deed in lieu of foreclosure. The ruling means that Jerome Ventures LLC and Jerome Property LLC — groups representing Chicago businessmen Fred Latsko and Mark Hunt — will be excused from at least $375,000 in real estate transfer taxes.
Judge Nichols found that the city was using a too-narrow of an interpretation of its own municipal code in pursuing the tax on the Jerome transfer. The city in the past has excused new owners from the tax when they acquired the land in the same way as Latsko and Hunt.
Aspen man seeks new pesticide rules
Chris Wurtele, who continues to suffer from headaches and fatigue after being exposed to the pesticide bifenthrin that near his home in September 2010, has asked City Council to enact an ordinance requiring city departments to use organic or “least toxic” pesticides on city property, and notify the public prior to their application.
Bifenthrin is used regionally to kill mountain pine beetles and other pests. Applicators wear protective suits and respirators when using it.
State law prevents local governments from regulating pesticide use by landowners and private sector contractors. However, anyone with pesticide sensitivity can join a state registry that requires contractors to give prior notification if they are applying pesticides nearby.
Aspen Walk proposal heading to City Council
Bankruptcy court in Minnesota recently approved a request by two real estate developers for additional funds from a previously approved loan to cover the costs of final approval hearings for the Aspen Walk development on Park Ave. The ruling sets the stage for a public hearing before City Council on July 11.
PFG Aspen Walk is proposing to partner with the Aspen-Pitkin County Housing Authority, which owns 414 Park Circle — containing 11 apartments for low income workers — just up the hill from its property at 404 Park Ave. Both buildings would be torn down to make way for the new structure. The developer would provide all the construction financing.
If approved, Aspen Walk would result in 40,968 square feet of development on the site, spread out in two buildings. The Planning and Zoning Commission voted 4-2 to recommend approval of the project in May, but has requested that a roof-top deck on the free market building be removed. City planning staff has also raised issues with the “livability” of the affordable housing units.
Fire District recoups half of $305,000 owned by contractor
The Aspen Fire Protection District has recouped about half of the money it is owed by the general contractor that built the new firehouse. After Fenton Construction failed to pay $305,000 to 12 subcontractors who worked on the project, the fire district dipped into its funds to make good on the bills. Fire department officials say Fenton has repaid $141,000.
Art museum nears fundraising goal; adds Armstrong to board
Aspen Art Museum director and curator Heidi Zuckerman Jacobson says pledged donations for the new 30,000-square-foot Aspen Art Museum are at $42 million, up from $7 million since April. The museum’s goal is to raise $50 million — $30 million for the building and $20 million for its endowment — before breaking ground. Cyclist Lance Armstrong joined the museum’s board last month.
Skier visits up 1.7 percent last year
Aspen Skiing Co.’s skier visits rose 1.7 percent during the winter of 2010-2011, marking a second year of growth. The relatively flat numbers came after a stronger than expected early season. Skico in January reported a 7 percent rise in year-over-year business during the first six weeks of the ski season.
Summer bookings look solid
Summer bookings at local lodges have been strong through June, although occupancy levels still are not what they were before the recession hit. Visitor numbers for the Food & Wine Weekend was strong, and the final week of June was tracking ahead of the same week last year, thanks in part to the change in timing of the Aspen Ideas Festival.
Pitkin County —
Judge rules Rio Grande Trail constitutes a “taking”
A federal judge ruled that a local landowner along the Rio Grande Trail must be compensated for losses connected to the conversion of the railroad right-of-way into the trail.
Harriett Noyes and her family’s Ellamae Phillips Co. filed suit against the federal government in 2004, claiming that its rails-to-trails program, which authorizes local governments to convert abandoned rail lines into recreational trails, resulted in a “taking” and entitled them to compensation under the Fifth Amendment.
The Noyes’ family has owned 75 acres of land on both sides of the Roaring Fork River 12 miles downvalley from Aspen since 1934. Railroad operations through the property ceased in the early 1980s, and the tracks were eventually removed and converted into the Rio Grande Trail.
Had the conversion not occurred, the Noyes family would have resumed ownership of the 200-foot easement and been able to develop their property with as many as four riverfront home sites.
Judge Lawrence M. Baskir ruled that recreational trail use is so far removed from the railroad use for which the easement was originally granted that the conversion amounts to a taking. It’s unclear whether the ruling will set off a wave of takings claims in the Roaring Fork Valley or other rails-to-trails sites, but it is considered precedent setting.
The federal government has 60 days to appeal.
County mining claims may soon go on market
Pitkin County is examining its ownership of 40 mining claims and deciding whether they should be sold or transferred. County manager Jon Peacock said the effort is designed to determine whether there are any public benefits to the county owning the land. If there aren’t, the county will look at ways to dispose of them, either by deeding them to other jurisdictions or selling them to private interests. Some of the claims may hold development rights, which will also factor into how there are dealt with.
County sued over denial of 15,000 square feet
Landowner David Boehm is suing Pitkin County and the board of commissioners for denying his proposal for a 15,000 square foot home along Maroon Creek. The suit, which lists Celestial Land Co. as the plaintiff, challenges a county-imposed limit of 8250 square feet on the property, which is located in an active alluvial fan prone to landslides.
Pot regulations nixed in face of Federal threats
Spooked by federal threats against state-sanctioned medical marijuana programs, Pitkin County commissioners abruptly backed off from instituting rules regulating the local growth and sale of medicinal marijuana. The draft ordinance under consideration set minimum distances from neighbors and limits on the lot sizes of grow operations.
County attorney John Ely advised the commissioners not to take any action in light of recent warnings from the Justice Department that regulating marijuana, under the guise of state medical pot laws, is a violation of federal drug laws.
Alpine Grove first Energy Smart neighborhood
Alpine Grove and its 32 homeowners became the first neighborhood to enter Pitkin County’s Energy Smart program.
A team of experts recently assessed energy use home-by-home, and installed quick-fix features such as efficient light bulbs and faucets. Additional recommendation that identify opportunities for more extensive energy-saving overhauls will be forthcoming.
Trail system rules revised to expand disabled access
The county open space and trails department is expanding trail access system-wide for people with disabilities by allowing then to use some electric bicycles and Segway-type vehicles. The change is a result of new Americans with Disabilities Act regulations issued in March that more clarify the definition a “wheelchair” and guarantee access to public areas on other types electric vehicles.
Trail rangers have the legal authority to ask anyone using such devices about their disability and need, and ticket those without a sufficient reason.
Hunter Creek Cutoff trail temporarily closed
The Hunter Creek Cutoff, the popular connector trail that runs from the observation deck on Smuggler Mountain to the Hunter Creek Valley, will be closed on weekdays through the first half of July.
Crews will be toppling 170 trees along the trail as part of a forest health initiative. County officials are urging people to honor the closure, as the work involved is extremely dangerous. Hikers and bikers will be routed to trails further up the Smuggler jeep road that circle back to the end of the cutoff, so the loop is still an option.
The trail will be closed to Monday through Friday from about 7:30 a.m. to 4:30 p.m. It will be open on weekends, including a four day stretch over the Fourth of July holiday weekend.
Snowmass Village —
Droste vs. Droste over open space proceeds
Brothers Bruce and Peter Droste are in a legal battle over the $17 million sale of their 841-acre Brush Creek Ranch to Pitkin County.
Proceeds from the sale were distributed in four equal parts to the brothers and trusts set up for their children. A small percentage also went to their parents, Albert and Mary Droste.
But Peter Droste claims in court documents that he facilitated the sale by, at considerable cost, obtaining development rights for the property, attending meetings and developing proposals over a 15 year period . The lawsuit seeks to require Bruce Droste and his children’s trust to compensate Peter Droste for “his personal time and financial expenditures made in furtherance of developing Brush Creek Ranch.”
Romero resigns from governor’s cabinet, returns to Related
Aspen resident Dwayne Romero cited time management challenges in his decision to resign as Gov. John Hickenlooper’s head of the Office of Economic Development and International Trade. The weekly commute from Aspen to Denver and the position’s extensive travel demands kept him away from home too much. Romero will resume fulltime duties as president of Related Colorado in Snowmass Village, which he had continued part time since taking the cabinet post.
Fab reviews for new trail
The first trail through the newly acquired, 850-acre open space between Owl and Brush Creeks opened to hikers, bikers and horseback riders last month to rave reviews. It is described as strenuous, sensational, rugged and filled with stirring views. Local and state authorities continue work on a long-term management plan that includes including wildlife habitat preservation and future trail development.
Base Village down to two restaurants this summer
Base Village has fewer eating and drinking options this summer, following the shut down of one restaurant and the summer closure of another. Buchi Sushi has closed its doors for good, and Sneaky’s is closed until around Thanksgiving..
The Viceroy Snowmass Hotel continues to offer specialty dishes at the Nest Lounge and Café. The Sweet Life and Base Camp Bar and Grill remain open for business in Base Village. And most of the familiar restaurants and retail stores on the Snowmass Mall are open for the summer.
Snowmass seeks public site for massive sculpture
Finding the perfect spot to place a sculpture in Snowmass Village has challenged a local group dedicated to the placement of public art.
Artist Bland Hoke’s sculpture “Sheer Bliss” weighs about 8 tons and is roughly 48 feet long. He created it in 2008 at the Anderson Ranch Arts Center, using a stout length of the old Sheer Bliss chairlift cable, held aloft by towers of old snowmaking pipe.
It is currently located near the Sheer Bliss lift, but the U.S. Forest Service wants it moved off the ski slope, which is part of the national forest.
Jim Kehoe, chairman of the Public Art Committee said “Sheer Bliss” offers a potentially exciting addition to the mix of public sculptures in Snowmass Village. The committee hopes to arrange relocation this summer.
Basalt —
Basalt may ease affordable housing requirements
Basalt Town Council may ease growth-control regulations adopted during the real estate boom, with a majority saying they would reconsider a requirement that commercial developers build affordable housing to mitigate employment generated by their projects.
Councilman Glenn Rappaport said the town needs to find incentives for development, not disincentives. He has consistently maintained that the free market can address affordable housing needs in Basalt.
But Councilman Pete McBride said economic conditions are playing a much bigger role in the lack of development than town government regulations and cautioned against revisions.
Development expected to resume soon at Willits
Construction at the Willits Town Center project in Basalt — stalled since Labor Day 2008 — could resume as soon as next month. The new owner of the project, Mariner Real Estate Management, has indicated in meetings with town government officials that it will seek a building permit to resume construction on what was once hoped to be the Whole Foods Market building.
Mariner purchased a major portion of Willits Town Center last month from Bank of America. At the time of the sale, a company spokesman said its priorities were to resolve nearly $8 million in liens against the project, and to resume talks with Whole Foods.
Mariner has selected R.J. Griffin and Co. as its general contractor. That company is a member of the J.E. Dunn Construction Group, an industry giant with 18 offices in the U.S., including Denver and Colorado Springs.
P&Z recommends denial of mid-valley rec center
In an advisory vote, the Roaring Fork Regional Planning and Zoning Commission recommended denial of the proposed midvalley recreation center.
The indoor recreation center would be downvalley from the existing Eagle County office building and parking lot at Crown Mountain Park. The proposed 63,000-square-foot facility would feature an indoor pool, work-out rooms, a climbing wall, an indoor track and meeting space. A second phase would add a competitive pool and a gymnastics center, boosting the size of the building to 85,000 square feet.
The Eagle County Commissioners will review the proposal this summer.
Basalt readies plan for plastic bag fee
The Basalt Town Council gave an informal nod to the concept of charging a small fee for use of disposable paper and plastic bags in the town’s two grocery stores. A 20-cent per bag fee will be discussed when the council reviews an ordinance later this summer.
Town officials plan to meet with elected officials from other towns to see if an ordinance can be adopted regionally. If the talks bog down, Basalt will consider implementing a bag fee on its own.
And Beyond —
Gas drilling proposed in Thompson Divide
Houston-based SG Interests filed a request with the Bureau of Land Management to group together 18 gas exploration leases in the Thompson Divide area, as part of an effort to preserve drilling rights on 32,000 acres public land.
The leases begin to expire in 2013 if they are not drilled. If the BLM approves the so-callled unitization of the leases, SG can test in just one location in order to indefinitely retain its right to all 18 leases.
SG’s holdings are located in the Thompson Divide area that local ranchers, conservationists, recreational groups and business owners are trying to preserve from energy development. Opponents argue that such construction would degrade air and water quality while threatening wildlife habitat, ranching operations and popular hunting and recreational areas.
The legality of 13 out of the 18 leases is also being challenged in federal court. Those leases were issued after the Bush administration tweaked federal rules to allow drilling in designated roadless areas, reversing a Clinton-era protection.
Cattle Creek development back in play
A revised plan to build 366 houses on the Cattle Creek property between Glenwood Springs and Carbondale goes before the Garfield County Planning Commission on July 13.
The property, which straddles Cattle Creek between Highway 82 and the Roaring River, has been the subject of four different development plans since the late 1990s — and four different bankruptcies.
The latest owner, Carbondale Investments LLC, proposes to convert 160 acres of the larger 280-acre site into a mix of 366 single- and multi-family residential units. The proposed neighborhood has been renamed River Edge.
Uncategorized | dkitchell July 7, 2011 |
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Uncategorized | dkitchell July 3, 2011 |
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Please see a summary for the May 2011 Pitkin County Market Analysis.
Summary for the month of May
$127,403,833 – total dollar volume, an increase of 56% from May 2010
May is the strongest month for dollar volume thus far in 2010
54 – total transactions, an increase of 23% from May 2010
Year-to-date dollars total $536,024,210, an increase of 17% from same time period 2010
Year-to-date transactions total 323, an increase of approximately 10% from same time period 2010
Aspen led the month with 26 transactions with a total of $93.9 million, Snowmass Village totaled 8 and $24.9 million, Old Snowmass 3 totaling $1.5 million, Basalt 2 totaling $411,000. Interval units accounted for 15 and $6.7 million
There was a notable sale in Snowmass Village totaling $20.5 million (Owl Creek Ranch Subdivision)
Bank sales totaled 5 with a dollar volume of $1.41 million. This accounts for approximately 1% of both transactions and dollar volume.
2- Basalt, 2 – Snowmass Village, 1 – interval in Snowmass Village
Year-to-date there have been 31 bank sales totaling $19.4 million. This accounts for 1% of the total transactions and 3.6% of the dollar volume
Through May, the average single family home sold price in Pitkin County is up 11% from full year 2010 to $4,839,635
Through May, the median single family home sold price in Pitkin County is down 1% from full year 2010 to $3,150,000
Fractional dollars for May total $6,720,900, a decrease of 22% from May 2010
Fractional transactions for May total 15, an increase of 7% from May 2010
Hyatt Grand – 8, Ritz Carlton – 3, Residences at Little Nell – 3, Sanctuary – 1
Through May, dollar volume totals $48,118,474, an increase of 28% from same time period 2010
Through May, transactions total 110, an increase of 55% from same time period 2010
provided as a courtesy from Land Title Guarantee Company
For all your Aspen Real Estate Intelligence contact Drew Kitchell with McKinley Sales, Inc at 970.379.7777
Aspen Real Estate | dkitchell July 1, 2011 |
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Uncategorized | dkitchell June 26, 2011 |
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