|
How is the housing market in Telluride? The low end is always tight in the Telluride region. There simply is not that much available in the low end anymore within 40 minute drive to Telluride.
The mid range is rather flat in Telluride at the moment. The trend is you either have it or you don't in this current market. The majority of mid range buyers are not finding the values they expect. So the mid range buyers are looking for bargains elsewhere.
High is hot! If it's over a million, it is selling. The old resort saying “the billionaire are buying out the millionaire” holds true here.
Any trends that you've noticed? The higher end the better. More and bigger rooms, each must have a master full bath. As always, location. Ski in ski out properties, big acreage with big views, and close to amenities.
The typical buyer: In their 40s and well-to-do.
What do prospective buyers look for in a vacation property in your area? Close to skiing, golfing, horseback riding, they also come for the views and the endless entertainment provided by the festivals, art shows and fine dinning.
Property Type: Some want the biggest log cabin anywhere some want the biggest ranch some want one of those very darling Victorian home and some simply want a condo that they can rent while there not in town.
Location: In the town of Telluride or Mountain village. A property with big views or on a river or creek.
Any specific amenities: The typical high end finishes. The trend is on big acreage lots a club house, stocked trout pond and private access to National forest land and private trails. As well as in town club house and parking. For in town, the typical high end finishes, a place to store all the toys and close to all the action.
What tourist attractions and events would pull in renters? Telluride is the most astoundingly beautiful place one can find. During the summer there is a festival every weekend. The big events are The Telluride film fest and the Bluegrass festival. The town of Telluride swells to 4 times its normal population during these festivals.
Tips for buying a vacation rental home in the Telluride area: Work with a broker that has over 20 years of experience in the area. A broker that knows the history, the inner workings of the local government. And a broker who knows where to and how to find the best values.
And lastly, why should a buyer choose a vacation rental home in your area? Telluride is the last of the great resorts to come of age. There is more room here to realize a tremendous profit in real estate then any where else. The short term rental is year round, with the festival every week during the summer and the world class skiing during the winter. Enjoy all of this and make a little money while staying in your rental unit when you like for free. And watching the value of your investment grow year in and year out. Telluride has averaged over 20% increase in value for all types of real estate consistently for over 20 years now and it just keeps on getting stronger.
John Janus is a 20 year veteran of real estate in Telluride Colorado. He is the owner of Telluride Realty & Investment, one of the oldest and most successful real estate firms in the region. John';s web site is JanusRealEstate.com. That's Janus with a u.
To get a feel for the Telluride Vacation Rental Market or to find a great vacation property to rent, browse Telluride Vacation Rentals on HomeAway.com.
Are you a realtor in a vacation market who'd like to do a Q&A? Email us.
|