TREC News

Christie's International Real Estate honors Master's Circle Members at Conference in Houston, TX

Christie’s International Real Estate awards 200 network brokers exclusive “Luxury Specialist” designation at 2019 agent conference in Houston

Certification underscores exemplary service to real estate clients enhanced by appreciation of other luxury assets — including home interiors, art, wine, jewelry, watches and other collectibles

Houston, Texas (November 18, 2019) — Christie’s International Real Estate, the real estate arm of Christie’s, the world’s leading art auction house, welcomed 200 brokers from its global network, to the company’s invitation-only Luxury Specialist Conference. The annual forum, held November 12 and 13 at the five-diamond Uptown Post Oak Hotel in Uptown Houston, included experts in high-end real estate and a spectrum of other luxury segments, all providing insights on how to provide differentiated and exclusive client service.

Leadership and philanthropy, both valued when operating at the highest levels of real estate sales, were addressed as key elements to deepening ties with existing and prospective clients. At the conclusion of the conference, attendees were bestowed with the “Christie’s International Real Estate Luxury Specialist” designation by Christie’s Education, which is reserved for brokers who have shown a dedication to exceptional client service by continuing to acquire expertise and insights into the ever-evolving luxury sector.

Dan Conn, CEO of Christie’s International Real Estate, said: “We continue to focus our efforts on helping our network members and their agents to become trusted advisors to their clients in every sense of the word, and to provide them with unique marketing tools and services with which to service their clients in a way that no other agents can. We invite our Affiliates to exhibit real estate at top auctions around the world, to participate in sponsored luxury events such as the Concours d’Elegance car show in Pebble Beach, to create special evenings with Christie’s specialists and leaders from our other luxury partners at homes offered for sale and to schedule tours for brokers and their top clients at our auction house locations around the world including our hubs in New York, London, Los Angeles and Hong Kong. No other network can offer this level of luxury expertise, education and exposure, which further underscores the value of our Luxury Specialist designation.”

International attendees hailed from Argentina, the Netherlands, Portugal and Taiwan, to name a few. In the United States, agents from New York to Florida and Montana to Hawaii were among those represented.

Participants heard from Christie’s International Real Estate executives, including Mr. Conn, and their industry-leading peers who provided their insights in separate presentations and panels. Christie’s colleagues discussed current interior design trends and an overview of the new book from Christie’s Education’s Agnes Berecz’s “100 Years 100 Artworks.” Luxury brands Pomellato, the Italian jewelry brand; Ulysse Nardin, the Swiss watch manufacturer; and Julia B., the custom linen boutique company, all of which are partners of the Christie’s International Real Estate network, joined the conference to provide hands-on experiences in their sectors, which are valuable to agents when interacting with top-tier clients.

Windows of the World Wine School; One More Wave, a nonprofit for rehabilitating veterans through surfing; and golf celebrity Michael Breed rounded out the conference presentations. Small group discussions also allowed those in attendance to share their real estate successes and challenges, while still leaving ample time for one-on-one networking and relationship building.

Earlier this year, Christie’s International Real Estate announced the formation of the Masters Circle, a group of top-performing agents from within the network. This group also attended the 2019 Luxury Specialist Conference and were invited to stay for additional programming after the conclusion of the main conference. Telluride Real Estate Corp Master’s Circle Members include TD Smith, Dan Henschel, Garrett Simon and Ben Jackson.

Nancy Almodovar, CEO of Nan & Company Properties and the host Affiliate, said: “We are extremely honored to have been selected as the host Affiliate for this year’s Luxury Specialist Conference. The event provided a unique opportunity to open our doors to top real estate experts from around the world and allow them to experience Houston’s thriving economy, exceptional landscapes, rich culture and the mix of global traditions that define our great city We take immense pride in contributing to the success of this conference and look forward to collaborating with our Christie’s International Real Estate family and Affiliate colleagues on future projects and initiatives to best serve all our valued clients.”

About Telluride Real Estate Corp.

Telluride Real Estate Corp. (TREC) is the exclusive affiliate of Christie’s International Real Estate with offices in historic Telluride and the Mountain Village. Celebrating 35 years as a company, TREC is pleased to be one of the most established real estate brokerages in the region, with a team that includes more than 35 licensed brokers, assistants and staff members. TREC has access to a worldwide network of discriminating buyers, gaining maximum exposure for our Telluride listings.  Combined with the power of Christie’s International Real Estate, the largest network of independent real estate firms, TREC offers a synergy between local strength and global networking.  The Christie’s International Real Estate network exceeds $118 billion in annual sales and is the largest international network of real estate companies specializing in the sale of luxury and notable properties.  For additional information about TREC, please visit www.telluriderealestatecorp.com.

 

 

Telluride Ski Resort Winter Snow Update from Bill Jensen

Telluride Ski Resort update from Bill Jensen, 100 Stevens Drive and Surprise and Delight

The 2019 Telluride ski season is officially underway with the Telluride Real Estate Corp. kick-off meeting held December 4th. Bill Jensen and almost all of the 38 TREC brokers were in attendance, including TAR President Pam Guillory, TREC President TD Smith, as well as Director Steve Hilbert and VP’s Toby Brown and Dan Henschel. Fresh faces and perspectives from travel filled the room and the buzz in the air indicated the team was approaching the 2019 Telluride Ski Season with a new revitalized energy.

Bill excited the crowd by indicating there would be a 5-hour preview of Chair 9 on Friday December 6th from 9-2 PM. With 4-6” of snow expected tonight and tomorrow, the terrain is sure to please. Jensen elaborated on the snow safety work being done on the mountain and indicated that Chair 12 and Prospect Bowl would be open within the next week. With the terrain opening on its current projected schedule, the Telluride ski resort is in great position for Christmas. An avid weather fan, Jensen indicated that weather patterns come in 5-week cycles, and the predictions this year have the snow cycles favoring the San Juan’s. Jensen said he always likes to see it raining in San Diego, as it bodes well for Telluride.

The removal of 7000 trees, 5000 of which were dead and dried was another preventative initiative by the ski resort. Jensen said that the burn piles were complete ash within 36 hours of burning.

The Mountain Village Market is getting a facelift – and is currently gutted to its shell as new plumbing, flooring, windows and shelving are going up. Slated to re-open Memorial Day 2020, the new market will have a Whole Foods experience feel and be much brighter, according to Jensen. Locals will have to be patient through the process, but the renovation of the market to mirror the more upscale resort surrounding it will certainly add to the appeal of the area as well as provide needed convenience. Jensen indicated the renovation would be upwards of $3.5M, and the Telluride Mountain Village Owner’s Association (TMVOA) has already given $1.2M.

Mountain Village is also on the rise with the opening of another Telluride Brewing Company location. The brew pub is to be located behind the Black Iron Restaurant and not only offer local brews, but street tacos as well. Locals are thrilled that there now will be the Telluride Distilling Company and a brew pub, complete with convenient grab and go snacks perfect for the Telluride Bike Park or ski day.

Behind the Scenes: Canopy Zip Lines are up!

Another fabulous addition to the Mountain Village is a series of zip lines known as the Canopy, ready to ride Summer 2020. With the first run at 300 feet in length to get comfortable, guests are then sent down 1500-1600 feet 273 feet above the ground for an exhilarating ride. The canopy is a nice addition to the 10-mile bike park which opened Summer of 2018.  

Jensen added that $1.5-$2M will be spent yearly in snowmaking, and we are well on track for meeting the 20% reduction of our carbon footprint by 2025, currently tracking at 14%. These goals are in line with the Town of Telluride as well as San Miguel County.

Jensen made special note of several of the affordable housing projects on the horizon, adding that he wants to keep the development local and focused in order to best retain employees.

The location at 100 Stevens Drive, Mountain Village CO provided gorgeous views as well as updated decking, enhancing the natural beauty of the property. Sitting on more than an acre, the 5 bedroom 4 ½ bath timber home sits just minutes from the mountain village core and is also ski-in/ski-out! Offered at $3.9M for just over 6,100 square feet, this residence is a quality find in a quaint neighborhood. New to market from Ben Jackson, schedule a tour this ski season before this property gets picked up!

President TD Smith and several other Christie’s International Real Estate Master’s Circle Members trekked to Houston Texas for the CIRE Conference this November. After being rejuvenated and reenergized through top notch speakers and valuable breakaways, the team returned full of fresh ideas and a recommitment to authenticity and the idea of ‘surprise and delight’. TD recounted the speaker’s story of wanting to purchase a luxury vehicle, found the one he wanted with all the accessories, yet was surprised and delighted by a secret compartment which sealed the deal for the purchase of the vehicle. It was this surprising and delightful aspect of the vehicle that actually made the sale.

In sales, we often think of good, better, best. The idea of surprise and delight suggests a measure of quality that our clients should experience. The ‘just expected’ ideas are things that people expect, the basics a client wants to see happen without fail. The next tier is ‘a little more…a little better’, a set of ‘better’ elements that make the client feel closer to a positive feeling or decision. For some clients this better is their just expected, especially in luxury markets.

The ‘surprise and delight’ element is just that – something unexpected that delights the client and satisfies a need they didn’t know they had or adds that extra measure of quality and attention. Feeling heard and understood without feeling pressured, and then revealing a delightful surprise is a customer experience we are dedicated to. Our experience speaks volumes about our authenticity and willingness to help our clients find the perfect fit, whether it’s second home ownership, a vacation property, legacy home or retirement estate.

   

Countdown to Christmas in Telluride, Colorado

Countdown to Christmas

It’s Telluride Ski Resort time again! The garland is up, the snow is coming down, just in time to ring in the holiday season and the new year. Where will you be taking your ski vacation this year? Opening day on Thanksgiving Day at the ski resort was an amazing success, and the Holiday Prelude is just around the corner. What are you going to ask Santa for this year? A sweet new pair of skis or snowboard lessons? How about a gift certificate to the Cosmo Restaurant or Allred’s? Santa and some of his reindeer will be in Mountain Village December 14th – 15th for the Holiday Prelude. There will also be free ice skating! Bring the kids and kick off the holiday right with family sledding. Christmas is only 3 weeks away! Enjoy the holiday fun as Mountain Village, CO is transformed into the North Pole – complete with pictures with Santa, holiday crafts, hot cocoa & popcorn, holiday movies and an adult cash bar and lounge.

TELLURIDE HOLIDAY PRELUDE SCHEDULE OF EVENTS

December 14:

  • Curling Demo, 10am at Reflection Plaza
  • Free Ice Skating, 12-4pm at Reflection Plaza
  • Ride the Polar Express to the North Pole, 1-5pm at the Gondola @ Oak Street
  • Kids Train Rides, 1-5pm Throughout All Plazas
  • Live Reindeer, 1-5pm at Sunset Plaza
  • Sledding, 4:30-6pm at the base of Chair 4
  • Santa's Village, 1-5pm at the Telluride Conference Center
  • Local Kids Skating Show, 6:15-7pm at Reflection Plaza
  • Tree Lighting and Caroling, 6-6:15pm at Heritage Plaza
  • Ice Skating Party with DJ, 7-9pm at Reflection Plaza

December 15:

  • Ride the Polar Express to the North Pole, 1-4pm at Gondola @ Oak Street
  • Kids Train Rides, 1-4pm Throughout all plazas
  • Free Ice Skating, 1-4pm at Reflection Plaza
  • Sittin with Santa, 1-4 at Red Gondola Photo Booth

Noel Night in Telluride is Wednesday December 4th, and the Telluride shopping scene is ramped up for the holidays. Holiday sales are everywhere! Many of the retailers take significant percentages off and offer some pretty sweet deals. Special holiday offers combined with drawings for additional savings make it a fun interactive night. The Telluride Fire Festival is December 6th-8th , an annual nonprofit event that made its debut January 2015. Much like Burning Man, the annual celebration of community, art and fire brings larger-than-life fire art to the Telluride region, allowing people to see and interact with this magical flammable festival in the cool mountain snow.

The Choral Society Winter Sing takes place at 7 PM on Friday, December 13th and 4 PM on Sunday, December 15th at Christ Church and is sure to get you in the spirit. Devoted Telluride locals dedicate hours of rehearsal to bring echoes of the season through beautiful music. This year’s 2019 Wintersing show Light of the Season, features conductor Rhonda Muckerman, Susan Ensor on piano and Alan Bradley on percussion. Tickets can be purchased at https://www.telluridechoralsociety.org/

The first day of winter is officially December 21st and the Telluride Theatre will be presenting their annual Holiday Cabaret December 20th – 22nd, and Downlow on December 26th. The SAF Holiday Concert Series will take place December 27th-31st. The New Year’s Eve Torch Light Parade and Fireworks on Main Street will help ring in the New Year, welcome 2020!

Telluride Real Estate Corp is excited to be preparing for our holiday party at the National restaurant in Telluride, a favorite of many of our team. Perhaps it’s its close proximity to the Buck, perhaps it’s the amazing food (try the shrimp), perhaps it’s the opportunity for our team to get together to celebrate each other’s successes, the ups and downs of real estate business in the Rocky Mountains, and our corporate family. It is the experience of this team that makes them great, if only it were appropriate to repeat some of the stories of TD Smith, Steve Catsman and Stiff Patterson and Steve Hilbert from their Telluride heyday. Our TREC veterans have experienced the town of Telluride like no other and have helped it grow, investing from the beginning in both downtown Telluride and the Mountain Village. TREC played a large role in the development of the real estate around the Telluride ski resort. Participating in both the vision and design was important to the early adopters – TREC team members that could see the future of the #1 Ski Resort in America taking shape. The next phase for Mountain Village development is La Montagne currently in the conceptual planning phase.

What’s next for 2020? Be on the look out for the Q4 Telluride Real Estate Market Report, detailing the stats from the year, culminating in what looks to be a very strong end of year showing. Now is the time to investigate real estate, plan your second home or even vacation or retirement getaway. The holidays remind us of what’s important and oftentimes invigorates hope or rekindles dreams we once had. Is your happy place swishing through fresh powder? Or curling up by a fire with family and friends? What does a beautiful mountain view or deeply inhaling the crisp mountain air do for you?

Telluride Real Estate Market Analysis Q3 2019

A strong summer sales season has significantly improved the real estate market. Through the first nine months of 2019, the market has seen $328.7M in total sales, 8% off pace from last year, and 358 total sales which is a 4% increase from last year. If historical trends hold, it is expected to see another strong month in October to continue the impressive second half of 2019.

TREC brokers were part of the top three significant sales in Quarter 3 2019 - 235 E. Columbia Avenue, Senate-Wick 123 S. Spruce Street and 109 Polecat Lane - totaling $21M. TREC accounted for 32% of all transactions and 35% of dollar volume for the quarter. YTD TREC accounted for 51% of all transactions and 54% of dollar volume excluding mining claims, parking spaces, fractionals and deed restricted properties. 

TREC’s Significant Sale of the Town of Telluride single-family home 235 E. Columbia in July was the largest for the quarter at $7.625M, $1,914 per square foot. Q3 2019 is in almost lock step with Q3 2018, down only 2 transactions and $3M, with the average price holding steady around $1.17M. 

The Town of Telluride gross dollar sales totaled $135.2M through Q3 2019, down only $1.5M from Q3 2018 and the number of sales increased by 1. The average price of single-family homes decreased by 29.5%, from $3,617,647 to $2,549,455.

For Mountain Village, the dollar volume decreased by 13%, and the number of transactions by 23%. The remainder of the county saw a decrease of 25% in dollar volume and a 4% decrease in number of transactions.

In July, there were three Telluride single-family home sales and one Mountain Village single-family home sale, along with four Telluride condo sales and three Mountain Village condo sales. TREC saw significant sales in the Mountain Village condo 12 Trails Edge Lane 7 for $1.875M and the Town of Telluride single-family home sale of 771 Prospect Avenue for $1.24M. 

During peak summer, Telluride single-family homes were nearly double the price PSF than that of Mountain Village single-family homes, with the Town of Telluride coming in at $1,037.55 PSF in July compared to $652.46 PSF for the Town of Mountain Village.

August saw a needed boost for the market with three sales occurring over $5M, the top sale being TREC’s Significant Sale of 109 Polecat Lane for $6.55M. 274 Benchmark Drive came in close second at $6.2M and the Telluride Transfer condo on 150 W. Pacific Avenue followed closely behind at $5.5M. There was also an increase in the number of condominium and vacant land sales in August. Telluride and Mountain Village saw 15 and 11 condominium sales respectively, and there were 16 total vacant land sales.

Other notable August TREC sales include Mountain Village Dakota Place condo 133 Lost Creek Lane for $2.3M, Mountain Village single-family home 232 Country Club Drive for $1.695M and Town of Telluride condo 240 S. Mahoney Drive for $1.25M.

With August through October normally the strongest three-month stretch of the year per the historical five-year average, September continued strong with the TREC Significant in-house Sale of Senate-Wick at 123 S. Spruce Street for $7.55M. TREC also brought the buyer for The Butcher & The Baker at 201 E. Colorado Avenue for $3.2M. Other notable sales for September include Mountain Village single-family homes 225 Benchmark Drive and 225 Adams Ranch Road for $4.5M and $1.3M respectively. Overall in Q3, the market saw 117 transactions for $137.2M.
 

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Telluride Association of Realtors (TAR) Awards Four TREC Brokers

At their annual awards dinner earlier this month, Telluride Association of REALTORS (TAR) inaugurated Telluride Real Estate Corp's Pam Guillory as their 2019-2020 President. Guillory has been on the TAR board since 2009, serving under 10 past presidents. 

Guillory honored others at her installation celebration, recognizing TREC's Steve Catsman & TD Smith, as well as Dirk de Pagter, Sally Puff Courtney and Dan Shaw for their “contribution of 40-plus years of paving the way for Telluride to become one of the most unique destination resorts in North America,” Guillory said. Coining it the Legacy Legend Award, Guillory added, "I came to appreciate their input and endless experience and recognize how they helped carve this town into what it is today,” 

Another annual honor was given to TREC's Kiplynn Smith, for the First Time Homebuyers Assistance Fund representative. 

2018 Realtor of the Year Award winner, TREC's Chris Sommers stated, "The Telluride Association of Realtors has been a cornerstone of this community and continues its ongoing commitment to affordable housing, property rights, volunteerism and community involvement. We strive to always improve our professionalism, education, public relations and community outreach for the Telluride region." 

Guillory was the recipient of the 2018 Community Realtor of the Year Award. An avid volunteer, Guillory is involved in several organizations including the Telluride AIDS Benefit, TAR Senior Luncheons, Angel Baskets, and TAR's Board of Directors as Education Chair. 

TREC is proud of its brokers who serve as leaders in our real estate community.

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Q2 2019 Telluride Real Estate Market Stats in, a Promising Q3 on the Horizon

Thus far in 2019 there has been an even split of condominium sales in Telluride and Mountain Village
with 30 sales in each. Similarly, there have been six Telluride Single Family Home sales versus five
Mountain Village Single Family Home sales. The average sales price of single-family homes and
condos in Telluride are lower than that of Mountain Village, however, price per square foot of single-family
homes and condos is higher in Telluride than Mountain Village.

Year to date, the average price of a single-family home in Telluride is $2,129,833 compared to
$2,732,000 in Mountain Village. Average price per square foot in Town is $966.99, compared to
$576.25 in Mountain Village. Average price for condos in the Town of Telluride is $1,084,001 at
$880.64 per square foot and $1,346,950 in the Town of Mountain Village at $642.83 per square foot.

Overall the dollar amount of sales has gone down 14% from last year at this time, from 225 sales at
$218.8M in 2018 to 205 sales at $187.2M in 2019. The number of sales has gone down 9%.  It is noted
that there were less showings the Winter of 2018 due to record snowfall and visitors and locals alike
enjoying the mountain.

In the past 5 years we have seen a surge in sales in May, however this year there was a 9% decline in
number of sales and a 16% decline in dollar amount compared to May 2018. However, TREC brought
in the record high for the month, co-listing and selling Lorian’s 111 San Joaquin Road 5 for $2,886,500.

The largest sale in April was Eagle’s View Reserve Condo Unit 4, a Mountain Village Condo that sold
for $1.65M. June’s largest sale was 210 Wilson Peak Drive in Mountain Village, selling for $4.68M.
It is anticipated that the market will pick back up during the summer months as record breaking
snowfall and a promising start to Q3 provide an optimistic outlook for area real estate.

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TREC Brokers Recognized by Telluride Association of Realtors

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The Telluride Association of REALTORS (TAR) named TREC's Chris Sommers its 2018 Realtor of the Year at their annual awards dinner earlier this month. Nominees for this award are chosen and voted on by their peers. In addition to this prestigious award, Sommers, the out-going President of TAR and new Past President for TAR, also won the Presidential Award for service to the organization.

“I am honored to be nominated by the past recipients of this award and humbled to have received the Realtor of the Year Award for 2018.  The Telluride Association of Realtors has been a cornerstone of this community and continues its ongoing commitment to affordable housing, property rights, volunteerism and community involvement.  It has been a privilege serving as President for the Telluride Association of Realtors, the Board of Directors and membership this year as we strive to always improve our professionalism, education, public relations and community outreach for the Telluride region," said Sommers. 

Pam Guillory was the recipient of the Community Realtor of the Year Award. An avid volunteer, Pam is involved in several organizations including the Telluride AIDS Benefit, TAR Senior Luncheons, Angel Baskets, and TAR's Board of Directors as Education Chair. TREC is proud Pam has been voted as TAR's President Elect.

TD Smith was once again the recipient of the Best Open House Award. The cuisine served at TD's open houses match his lavish listings. From Thanksgiving dinners to prime rib to seafood spreads, TD sets the bar high!

Steve Patterson has been elected to serve his fourteenth term at TAR Treasurer/Secretary. TREC is proud of its brokers who serve as leaders in our real estate community.

 

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Luxury Market Update | June 2018

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As revealed in our just-released in Christie's International Real Estate's Luxury Defined 2018 report on the global luxury real estate sector, sales of million-dollar-plus properties in second-home and resort lifestyle destinations worldwide soared in 2017. Luxury sales in second-home markets grew by 19% year-on-year in 2017 with Telluride exceeding with 37% growth in 2017. Telluride has seen $191.5M in closed transactions through May in 2018. With $97.4M in sales currently under contract, we look forward to the summer sales season.

Telluride Real Estate Market Finishes 2017 with Record Ten-Year High

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The Telluride real estate market’s total sales for 2017 finished at a ten-year record high. Sales were significantly better in dollar volume and number of transactions compared to 2016. With $616.1M in contracts closed, sales are up 36% over 2016. The number of sales is up 10% with 618 closed transactions.

The Town of Telluride’s high demand and limited inventory continue to be driving factors in the price of single family homes. With construction on nearly every block the past two years, vacant land sales have remained stable, with single-family home sales seeing an increase. Finished construction projects helped drive single family home sales, which are up 11% in number and up 38% in dollar volume. Condo/townhomes sales continue to trade hands with the number of sales up 19%.

Mountain Village high-end luxury home sales continue to trend upwards. There were a record ten sales over $4M 2017. This market achievement boosted the dollar volume for Mountain Village single-family homes up 46%. With proximity to the ski resort along with rental income potential, Mountain Village condo/townhome sales remain an attractive purchase, with dollar volume up 27% compared to 2016.

The remainder of the county saw a 23% increase in dollar volume compared to 2016. The Ski Ranches and Aldasoro luxury neighborhoods saw increases in single-family home sales. Notably, the Ski Ranches had nearly quadruple the number of vacant land sales in 2017 over 2016. Its privacy, views, flexible building guidelines, and transfer tax exemption prove to be an attractive purchase for future home construction.

Entering 2018, the Telluride real estate market outlook is positive, with $83.6M in sales currently under contract according to the MLS.

Click here to read our full Market Report.

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