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November Owner Letter

Posted by carbonate on November 9, 2016

November 10, 2016

Dear Owner:

Well, the election is over, thank goodness. Whatever one feels about politics in our country I’m pretty certain we are all very tired of the campaigns that were waged over the various media outlets.

The question we are all wondering locally, where is the snow? Continued warm temperatures and lack of precipitation are creating bare ground throughout the village and up most trails on the ski mountain. Copper’s snowmaking crews have created (we are told) outstanding skiing conditions on Copperopolis (from Solitude Station to the top of the ski mountain) where racers have been training since October 21. However, the speed center is lacking snow to accommodate skiing on the downhill venue ending at the base of Super Bee, down Rosi’s Run. Snowmaking has been started on this section of the ski mountain, but only the upper portions have coverage. Despite this, I think back when Vail first opened in 1962 and we thought we were lucky to be skiing by Thanksgiving. The last several years and snowmaking have spoiled us! Copper has delayed their opening to November 18.

Last month we stated that CNL Financial was selling all of their Copper Mountain commercial space holdings. This past week the papers announced a real estate investment trust named EPR Properties based in Kansas City, Missouri is teaming with New York hedge fund manager Och-Ziff to take over the CNL holdings, including the Copper Mountain commercial space. No changes are contemplated. It is being compared to ownership of a mortgage being sold to a different bank. “It’s not an event from a skier’s perspective.”

At the Metropolitan District, it is budget time. Preparation of next year’s budget is underway with the next public hearing scheduled for November 18, 2016. The District is looking at a revenue budget of just over $6 million for next year. This is approximately $900,000 more than 2016, as approved last May by the mill levy increase election.

The annual meeting and budget approval of the Resort Chamber is scheduled for December 3, 2016. While not a very well attended event, an important meeting to be represented either in person or via a proxy. Be looking for the notice of this meeting.

The real estate market continues to be relatively active with 20 pending sales and only about 43 active listings throughout the village (exclusive of fractional opportunities). The lack of inventory should continue to push values upward.

Thank you again for working with Carbonate.

Realtor Tom Malmgren of Carbonate Real Estate - Copper Mountain Colorado

Tom Malmgren
Carbonate Real Estate
Copper MountainColorado

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