Denver has so much building going on, it’s looks like Shanghai!


Denver has so much building going on, it's looks like Shanghai!

We have had a house in Denver for about 14 years. Never before have I seen so much construction happening at one time. It’s absurd in Cherry Creek North, which is where I live, but drive along 1-25 through the core of downtown to the east, and the Highlands on the west, and cranes, and framed buildings is all you can see. I used to joke ( back in about 2006) that here in Breckenridge, that if you dug a hole, it rained and a house grew. Now in Denver the holes are bigger condo complex’s, commercial, and many, many apartments. Here in Summit County, we don’t have the place for much more than single family homesites ( 260 currently on the market). After 35 years I can speak from experience, if you want new, and you want condo, you have one, maybe 2 years at the most. If you want to build a home, or buy a spec, you have maybe 5-10 years, but, this sleepy little county I moved to 35 years ago, will soon be closing it’s doors to homeowners, as the visitors climb to maximum occupancy. 2013 was the best year ever, and wait till the numbers come in on 2014. The numbers will be through the roof.

Buyers were fighting over this listing!


Buyers were fighting over this listing!

way up high, on Rounds Rd in the Highlands, this 4 bedroom 5.5 baths plus loft, plus office, plus breakfast room, 2 bars ( 1 on each entertaining floor), a wine room, mud room, laundry/craft room, 3 car garage with lots of storage….on 3 plus acres, great views of the ski area….just 1 mile from the rec center….this Jon Gunson creation. The winners a nice couple from Wichita, KS, will won this early May.



The Wall Street Journal thinks perhaps you need to diversify out of the stock market again. Lessons from a Bull Market!

Lessons from the Bull Market

Do you remember how you felt about the stock market on March 9, 2009?
Evidence suggests many investors have blocked out those fearful times. Five years after the S&P
500 hit its lowest point during the financial crisis, investors are pouring money into stocks.
In 2013, investors put $172 billion into U.S. stock mutual funds and exchange-traded funds, more
than they had withdrawn from 2008 to 2012 combined, according to Lipper, which tracks funds.
They have added another $24 billion in 2014, through March 5th.
A little complacency is understandable. If you took a Rip Van Winkle nap in 2007 and woke up this
weekend, you might conclude nothing bad had happened. The S&P 500 has shot up to record
levels and hit another all-time peak on Friday. The index is up 178% over the past five years, not
including dividends.
But the financial crisis was real and so was the steep plunge it triggered in the stock market. Instead
of sweeping those memories aside, investors need to reflect honestly about what that bear market
meant, how it affected their behavior then and how it ought to factor into their thinking now.
Above all, investors should prepare for the future with a few strategies whose enduring value has
been underscored by the events of the past five years.
Be Skeptical of Experts:
Take expert predictions lightly and if you act on them, make small moves
rather than drastic ones.
Remember What Losing Felt Like:
In a speech about intellectual honesty 40 years ago, Nobel
Prize-winning physicist Richard Feynman said, “The first principle is that you must not fool yourself —
and you are the easiest person to fool.”
Limit Risk-Taking:
Owning some stock is a good thing for many investors. Instead of periodically
bailing on stocks, investors would be better off keeping a smaller amount in stocks and sticking with
that allocation in good times and bad. Alternatively, investors can pare back their stock allocation
if they’re willing to step up their savings rate to compensate.
Be Wary of Labels:
Terms like bull market and bear market are eye-catching labels — not forecasts.
Question Performance Figures:
Past performance doesn’t guarantee future results. In fact, it can
be a poor guide to past results, too.
(Source: Wall Street Journal, 3/7/2014)

It’s the address on everybody’s wish list.


It’s the address on everybody’s wish list.

Clearly, something is changing on Main Street. Living at Water House puts Breckenridge at your feet. The town. The mountain. Walk straight from your door to the Peak 9 QuickSilver Super6 lift. It captures the heart and soul of Breckenridge…and then some. Don’t miss out.
Take away the 75-80% Federal lands and then add probably another 5% on the north side of dedicated to agriculture that are big ranches, 6000-10,000 acres, and even include shared ranches ( more on that next week). So just about what you see, is all you’ll get. Over this next week, I will be talking about 2 more projects Slifer, Smith & Frampton is bringing to market, and that just about leaves the development Vail will eventually do at the Gondola site, but it will be guaranteed to be Vail prices in Breckenridge. So if you want new, and don’t want a house ( we still have building sites for single family homes to be built on), then you need to move quickly.

Big new Signage for Slifer Smith & Frampton at 117 S Main



I am often asked where my office is , and I respond about half way between Clint’s and Modis, but with our fabulous new signage, you shouldn’t be able to miss us. Do be aware that we have a second smaller office at 211 North Main Street. So now you can’t miss stopping in to say hello to me. If you don’t know what Clint’s is, it’s time you learned about the best fresh baked goods in all of Breckenridge, really good coffees and teas, and a soup sandwich bar down below. Modis has been one of our best restaurants, formerly owned by Eric Mamula, of “Eric’s Down Under” and an important member of the town council.