Hey, Justin,
Sounds like you got a good deal on 'try before you buy' lodging through your work. T-Ride is a fun and funky town in the rugged and beautiful San Juan mountains. But, alas, it has been discovered, and property values in Telluride are no longer low.
Telluride, Colo.
Telluride is a 19th-century gold and silver mining town in the southwest corner of Colorado. Zoning laws have preserved the historic brick buildings and Victorian houses that line Main Street. Wedged in a box canyon surrounded by the San Juan Mountains at the end of a state highway, Telluride is clearly remote, but not isolated.
The town?s annual international film festival attracts a cosmopolitan crowd, who are discovering Telluride?s allure and returning to buy homes. Coming from Mexico, France, South Africa and Australia, these buyers ?have a lot of experience around the world and have decided Telluride is the place they want to invest,? said Mr. Saftler of Telluride Premier Properties.
He said today?s vacation buyers in Telluride are ?looking to get into the market at a lower level,? although that level has risen to $625,000, compared with $425,000 two years ago. Second-home owners seem to be in two camps: those looking at properties priced around $625,000 and $650,000, and those willing to spend $6 million or more. ?The $1-to-$6-million market has flattened,? Mr. Saftler said. ?There are some good buys right now in the $1.5-to-$2.5-million range.?
A two-bedroom, two-bathroom condo in town with 1,000 square feet is $1 million. Buyers willing to look 35 to 45 minutes outside Telluride, in places like Norwood, can find 1,200-to-1,400-square-foot homes with two bedrooms for $240,000 to $260,000.
Source: New York Time Great Homes and Destinations
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