Today's asking price...$7.2million. That's approximately $2million under construction costs! This 15,000sqft home was constructed by Old West Builders and took years to complete. As you can imagine the list of amenities and custom workmanship is to extensive to detail here. Rest assurred, there is not a more spectacular home in the region, not even close. A similar style home in the Telluride region would easily cost over $2000 a square foot. So this home at $480 a square foot is truly unbelieveable. When it first listed at $8.5million a Telluride buyer got to the punch first. A broker from Telluride brought in a group who were going to run a retreat at the site. Due to uncertain economical conditions they had to reevaluate their position and have since left the negotiating table.

It is estimated that  R & R Ranch have put over $9million into the project. They have had unexpected circumstances that require the property to be sold. The home is an absolute stunning masterpiece that outperforms many homes even in the Telluride region. It also has a 5,600sqft shop/barn area with a well appointed 2bedroom living space, and a 6-7car garage space. There is an open house at the property at the end of August. It sits on 27acres and boasts some of the most amazing views in the United States. The home is listed out of our office, RE/MAX Cimarron Realty, LLC.

FOR MORE INFORMATION email me @ floydmagee@remax.net

You can also CLICK HERE for detailed Multiple Listing Information.

"The latest episode of "As the Clubhouse Turns" is in: the Colorado Court of Appeal overturned a district court ruling that gave dues of the Fairway Pines Estates Owners Association to the owners of the original clubhouse at what is now Divide Ranch & Club."Ouray Plaindealer August 13th 2008 Edition

FULL STORY

The ongoing saga of the old Fairway Pines clubhouse turned in the favor of the new developer, Equilibrium Resorts, last week. When I read the article of the Colorado Court of Appeals overturn, I wasn't all that surprised. I'm not a member of the golf course resort, or an attorney, but the previous decision didn't seem to make a lot of sense. It was hard to imagine how the new owner, Stategic Real Estate Group, or the individual members of the resort, would allow 50% of their dues to continue to be paid to the old "temporary" clubhouse. Especially with the new one up and running and offering an obviously better experience than the temporary one.

I'm not trying to be hard on the old club, but it seemed like something that was not good for the development, or the area in general. I realize that the owners bought the club with possibly good intentions, although I don't know them personally. However, to continue to disrupt the progress of something that most people I talked to were very excited about, seemed a bit off center. So, I for one, am hoping that the continued legal process wrapping up these proceedings will see an end to the turmoil, and a fresh beginning for the future of Divide Ranch & Club for years to come.

"Cornerstone is 6,000 acres of perfect Colorado only a short drive from Montrose and Telluride. A

private club offering Greg Norman golf, stables, casual dining, extensive trail system and a mountain

club in Telluride - with two clubhouses, fine dining, tennis court, and pool planned. Cornerstone

provides Pioneer Hospitality for all to enjoy. Bring your children, your horses and your golf clubs and

stake your claim. Homes and Homesteads from 1⁄4 acre to over 100 acres."

Courtesy of The June 2008 Cornerstone Newsletter.

Cornerstone Golf Resort is teeing off on it's 18 hole championship course this summer. The course manager Tom Huesgen, and Project Manager Brian Wallin,  teed off recently. The courses Club House and several private residences with the golf foursome cabins are being built this summer.

Cornerstone is a exclusive development on the mesa north of Ouray County. The land is absolutely stunning and Greg Norman has designed a course that will take your breath away. The lots available range from 1/4acre village core lots around $300K, to 130acre ranch site for just under $2million. For the most current information on the course visit www.cornerstonecolorado.com . As a local real estate professional I would be more than happy to provide you with a private tour of the development and answer any of your quesitons. 

The following is an article a few weeks ago hosted on yahoo.com. I have been trying in as many ways as I can to get my friends and family, that haven't yet driven this stretch, to understand the beauty they are missing out on. If you like dozens of waterfalls cascading down the mountains, aspen groves, raging rivers, and wildlife galore, all at 8000-11000ft+ elevation, then you HAVE TO GO ON THIS DRIVE.

"Million Dollar Highway

Despite varying explanations as to the origin of its name (one claims it cost $1 million a mile to build in 1924; another says it contains $1 million in gold ore), there's no disputing the fact that the 75-mile stretch of scenic highway known as Million Dollar Highway is a breathtaking journey through the majestic mountain passes of western Colorado. Crossing part of the San Juan Skyway Scenic Byway, and following route U.S. 550 between the old mining towns of Silverton and Ouray, the route's twists and turns wend high above the Red Mountain Pass - an 11,018-foot-high collapsed volcano whose lava flow was found to contain gold in 1860 - and past the deep Uncompahgre Gorge, into which flow several waterfalls. As you continue to slice through the mountainside, winding along hairpin switchbacks (which tend to lack guardrails) and following old stagecoach paths, this route bears witness to the area's now-defunct mining operations; you can even stop in Silverton to admire the town's historic Victorian style buildings, some of which date back to 1874. That said, the real beauty of this trip is its elevated "million dollar" sights: Stunning views of the never-ending country-side, landscapes of springtime wildflowers, and vast terrain where elk, mountain goats, black bears, and deer roam freely - truly the picture-postcard image of the great American outdoors."

My friend and I found the above article on Yahoo! and have been using it to "encourage" others to make their summer a little brighter by coming over from Durango to Ridgway. It's only 2 hours and is truly one of the most beautiful, especially now with spring run off, sites in the country.

Buying a luxury estate in Telluride Colorado can easily be a $1500+/sqft ordeal. That's why when a broker out of our office, Adam Trujillo, listed this Ouray County mountain estate for $9,500,000,  15,000sqft and a 5,000sqft shop, heads started to turn our direction. A Telluride broker and his client are looking very seriously at the property for the third time tomorrow. Ouray County's most expensive single family home may sell faster than the average $500K home. Reportedly the Telluride client is downsizing from a property he just sold for much more than this. Here are few photos of the Ouray County, Pleasant Valley, home. The views are some of the best in the San Juan mountain region:

I am marketing Ouray County's first ever Colorado Built Green Certified Home. All I can say is that this experience is ruining my satisfaction with my current residence, in a good way! After spending hours with the builder, Scott Bridger of Bridger Construction Services Inc., going over the homes specs, and how it receives the Built Green approval, I could just feel the money pouring out of my not so "tight" home. To add insult to injury I just completed the Vaned course Building Green: The High Performance Home. Nothing like hours and hours of why most homes aren't very efficient to make you look critically at yours. Just look at this insulation slide:

Don't get me wrong. I love my home. But, after you begin to understand what Building Green can do in terms of energy efficiency, durability, and comfort it may ruin you from buying anything else. Does it cost a little more to build? Sure. However, the level of comfort someone can have knowing that their home is not wasting any energy, was not wasteful in production, and will stand the test of time is incredible. It simply has to be the way all residential construction is headed...fast. The Ouray County Watch paper is doing a special on Building Green and the home in their January 29th issue.

Building Green has so many layers and is such a great concept that I think I'll leave it up to the experts to tell that story. A lot of folks think it's just more insulation or energy star rated appliances. Visit the website for detailed information. Let me warn you though...it may cause you to sell your home and find the closest "Green" builder tomorrow.

If you have ever sat up at night and worried about someone stealing your identity and racking up huge amounts on your credit cards, worry no more. I just read a great article called Stop Identity Theft-Freeze Your Credit

I am filling out the forms today and sending them of to the credit agencies. I don't plan on applying for anything in the next year, and I don't want anyone else doing it in my name. I just had my first fraud email last week that tried to steal my Wells Fargo account information.

You definitely need to read this article and think seriously about whether or not a freeze on your credit is a good idea. It's easy to remove and may save you some serious heartache down the road.  

Two of Southwestern Colorado's most distinctive properties, Last Dollar Ranch and The Eagle's Nest, are going to the highest bidder October 11th, 2007. My wife received an invitation in the mail to the Absolute Auction, by premier auction company JP. King, today. Not exactly sure how we got on the list, but hey, at least now I can tell you all! They have filmed dozens of well known commercials for Marlboro, Budweiser, etc. at this amazing ranch.

The owners, Double Shoe Cattle Company, whos president is Vince Kontny, have made both properties into some of America's most fabulous and beautiful restored properties ever. Both properties can be viewed starting September 23rd from 10am until 5pm, running until October 10th. 

For a full list of photos of both properties and all the restoration information visit:

http://www.the-eaglesnest.com/

http://www.lastdollarranch.net/

I just heard about a new loan incentive that BofA is offering. I am still checking out the details but wondered if anyone else has heard of it. They, BofA, are offering to refinance a loan in the next six months for free if it can get you something 1/2percent or better of a rate reduction.

I just heard about this through another local broker who met a Bank of America Senior Loan Officer, Steve Bensinger, at the NAR meeting in Chicago. It came in useful today because I have some clients that are buying a home and worry that because of the sub-prime mess they may not get a good rate today, where the rates may be better in a few months once it all settles down.

Still checking out the details but sounds like it might be some good news for mortgages in light of all the recent bad publicity. I would love to hear form anyone who has used this or heard of it.

Today is an historic day in the over ten tumultous year history of the golf course community formally known as Fairway Pines on Log Hill Village. Last year Heritage Inn & Suites purchased the entire development for $15million just minutes before the Planned Unit Development was going to be revoked by Ouray County Officials for failure to finish the plat requirements. Ever since then Strategic Real Estate Group, the managing partner of Heritage Inn & Suites, has overseen the improvements on and off site of the course.

Divide Ranch & Club is breaking ground today at 1pm MST on Phase I of the new club house with food and a ceremony in the afternoon. Phase I will consist of a golf shop facility and a clubhouse with a commercial kitchen and bar & grill. The excavator shows up tomorrow morning at 9am to begin clearing the site. There were many meetings and tons of Log Hill Village and Divide Ranch property owners meetings providing opportunities for the new deveopment owners to hear public input on what they hoped to see in the next few years.

To read the full story click here.