molly@cbmp.com
    (970) 209-4234

Molly Eldridge - Crested Butte RealtorMolly Eldridge - Crested Butte Realtor

Molly Eldridge - Crested Butte Realtor

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53 Paradise Road – SOLD!

I was happy to help some long time, Crested Butte homeowners sell the Mt. Crested Butte home they had owned since the 1970s.  The owners of 53 Paradise have spent a lot of time here and their home was clearly cherished.  The unbeatable location on the fence-line on Paradise Road along with unencumbered views of Snodgrass and the North Valley, made this home desirable to the buyers – a young, Colorado family.  The house sold for $1,375,000 and I hope the new owners enjoy their time here as much as the previous owners did.

To view the type of marketing I can provide for your home, visit the landing page I created for this home at 53paradisemtcb.com. In order to get great results, you need a marketing strategy that works. There results speak for themselves!

Posted in: Uncategorized

2020 Crested Butte Market Insights

The latest Crested Butte Real Estate Market Report has been released by Coldwell Banker Mountain Properties.  This report covers all sales in the area for 2020.  In this report, you will see a lot of green arrows indicating that the statistic is better than it was in 2019.  Almost everything was up – number of transactions, total dollar volume, average sale price and the percentage of list price received.  This is true in most of the micro-markets included in the report.  Look in the report for the breakdown by area and type of property as well as luxury specific information and a general history of the last 10 years.

Read through it and let me know if you have any questions.  I’m happy to provide more detailed information about how any number was calculated.

Posted in: Uncategorized

Why Hire a Buyer’s Agent?

 

2021 in Crested Butte is expected to be one with a lot of listings and a lot of buyers. Many buyers ask whether or not it’s worth it to have a buyer’s agent. Most houses that are being sold will have an agent representing the seller, which is frequently referred to as a listing agent or sellers’ agent.  The listing agent’s main responsibility is to make sure the sellers’ best interests are being protected. Conversely, it is almost universally recommended that buyer have an agent to represent their own interests. This recommendation applies in a small community like Crested Butte, where local codes, industry professionals and other services are not widely available as it would in a larger city. The value that a buyer’s agent brings in a place where things may be done a little differently can go a long way!

Here are a few reasons hiring a buyer’s agent might be right for you:

1.) It’s *Usually* Free To Hire A Buyer’s Agent

While there are exceptions to every rule, the agent is usually paid by the seller. Be sure to discuss this when hiring an agent. This can be listing specific, so be aware of any changes in contract, a buyer’s agent will keep you well aware of this were to change.

2.) A Buyer’s Agent Knows What To Look For When Viewing Houses

Whether you’re buying your first house or tenth, chances are you don’t physically look at houses on a daily basis.  A successful buyer’ agent is physically looking at dozens of houses each and every week.  Another excellent reason to hire a buyer’s agent when buying a house is because they know what to look for when viewing houses.

There are certain red flags to look for when buying a house, many of which you may not be aware of. Here in Crested Butte, due to the amount of snow and cold that the areas experiences, roof construction and structural integrity are examples of areas where an experienced agent will be able to raise red flags when seeing a home.

3.) A Buyer’s Agent Understands The Local Real Estate Market

Each and every real estate market is different.  Real estate markets can differ from

Crested Butte Winter Calendar of Events 2019-2020

town to town and even neighborhood to neighborhood.  It’s extremely important when buying a house that you understand the local market. It’s important to have a professional on your side when finding your Crested Butte home, especially if you are moving to the area or getting a second home. Long distance buying with nobody in your corner is a difficult situation.

4.) A Buyer’s Agent Will Know How To Write Real Estate Contracts

Even if you’re buying your tenth house, it’s unlikely you’re familiar enough to navigate a real estate contract.  When you hire a buyer’s agent when buying a house, you’re hiring a professional who knows the ins and outs of real estate contracts.

5.) A Buyer’s Agent Will Have Access To Experienced Professionals Needed During A Transaction

During the course of a real estate transaction there are several professionals that are needed.  When you’re buying a house you’ll potentially need a mortgage originator, a home inspector, a real estate attorney, and a handful of other professionals. This is especially difficult when you are dealing with a community that may only have one or two inspectors that service the area. Having someone who has built these relationships with the industry is crucial to getting the deal done.

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Check out the new Crested Butte Buyers Guide!

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Why the MLS?

What is the MLS?

MLS stands for Multiple Listing Service. Whether you’re looking to sell or buy a

home, you will no doubt encounter this system. This is, in many ways, the very lifeblood of the real estate business. But just what is the MLS? Sure, it’s a huge database of home listings, but there’s a lot more to it than just that.

While the MLS may look like one large national database, it’s actually a suite of approximately 580 regional databases. And they’re quite territorial: Each regional MLS has its own listings, and agents pay dues to access and post homes on each

one. This is why agents who want a broader reach for their clients may become a member of more than one MLS.

There is a growing trend in which regional databases “share” listings without agents needing to become members of each, but that’s still more the exception than the rule. In general, only one MLS has the keys, both figuratively and literally, to any one home.

Difference Between Aggregate sites and MLS sites

While numerous websites such as Zillow, Trulia, Realtor.com and others aggregate home listings through highly condensed versions of MLS listings, that information provided can be either old or wrong altogether. Being a member of the actual MLS is the only guarantee of having 100% access to all the listings and information in a specific area as that information comes directly from Real Estate Agents. Additionally, these aggregate sites use algorithms and other pricing strategies that don’t not reflect current markets, especially in small communities like Crested Butte. This is one of the many benefits that a licensed real estate agent can provide.

Home sellers can’t post their home directly to the MLS, because access to this database is limited to licensed agents and brokers who pay for membership. Once they have a client selling a home, they gather the necessary details such as the square footage, number of bedrooms, and other noteworthy attributes—as well as photos—then post a complete (and hopefully eye-catching) listing on their client’s behalf. Additionally, crucial documents like HOA regulations are also provided through the MLS.

When agents log in, they have access to a wealth of data that they can pass along to their clients—or just help them do their business better and more strategically. And much of this goes far beyond whether a particular listing’s driveway is made up of gravel or asphalt.

Crested Butte CREN MLS:

Established in 2005, Colorado Real Estate Network (CREN) is a regional MLS servicing 17+ counties and six REALTOR® Board Associations. They have approximately 1,200 REALTOR® members and 250 affiliates including banks, appraisers, and property inspectors.

The Regional MLS covers close to 25,000 square miles. This is a huge swath of southwest Colorado and a crucial tool to have at your disposal when listing or purchasing a home. The CREN MLS is a top-notch program that will give the best information as quickly as possible. This access to the best information is yet another reason why choosing a local Real Estate agent and receiving the best and latest information to guide your decisions in real estate is in your best interest.

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Crested Butte Real Estate: Third Quarter 2020

As with all recent economic reports, the third quarter of 2020 was a blockbuster in Crested Butte real estate.  September alone realized the most sales in one month since I started keeping track in 2008.  91 closings vs. 31 in September 2019.  The previous busiest month was August 2018 with 65 closings.

The market continues to be busy with people coming into town to specifically look at property and several recent examples of well-priced properties going under contract after multiple offers within 48 hours of being listed.  There are several segments of the market with little to no inventory so properties that fit the bill sell quickly.

I will be keeping a close eye on the data and the market as we move towards the new year. If you have any questions on the current market, please do not hesitate to call! - Molly Eldridge (970) 209-4234

Posted in: Uncategorized

Crested Butte Real Estate: Second Quarter 2020

Please click below to see the complete real estate statistics through the second quarter of 2020. There is a lot of RED in this report which is to be expected. June alone had half of the sales and the dollar volume was only 56% as compared to 2019. In July through the 28th, the sales are up about 50% over last year and we still have 3 days to go with several closings on the books. August also looks to be a very busy month with a lot of sales scheduled to close. We are hopeful that the Crested Butte real estate market will end up over 2019 and all indications seem to be pointing in that direction, but there are many factors out of our control that could derail that forecast. Let me know if you have any questions about this report and/or any specific area, complex or subdivision.

Posted in: Blog, Market Update

Crested Butte Virtual Events this weekend

This summer is a little different for all of us, but hopefully you are making the most of it wherever you are.  Summer in Crested Butte is typically full of things to do.  Our non-profits count on visitors and part time residents to attend their fundraising events while they are in town, but most of those have had to be cancelled due to group size restrictions. However, there are a few events that have been reimagined and are now Crested Butte virtual events so everyone can be a part of them, wherever you are.

Typically the first weekend in August brings the Arts Festival with the CB Rotary Duck Race and the Adaptive Sports Crested Butte Open.  Good news – all of these are available to you virtually if you want to participate.

1.  The Crested Butte Arts Festival is “All in for the Arts” in 2020.  They are hosting an Online Art Auction Experience featuring many of the artists who were to be a part of the festival.  You can create an account and bid on amazing works of art.  The auction starts July 31 and ends August 9.  Click here to create an account and explore the incredible variety the Arts Festival brings to our small town.

2.  The Adaptive Sports Center’s Crested Butte Open Virtual Gala offers a number of ways to support the Center.  The Virtual Auction started today, July 29, and closes August 2 at 7:40 pm Mountain Time.  You can go here to create an account and start bidding on some pretty amazing, one of a kind items and experiences.  You can also participate in the Virtual Gala on August 2 at 6:30 pm Mountain Time by going to the Adaptive Sports website to watch it live!

3.  Last, but not least, the Crested Butte Rotary is going to have the Duck Race Sunday afternoon at 2:00 and it will be streamed live on the Travel Crested Butte Facebook page.  This is one of my favorite events of the summer and now you can see it without having to run from 1st Street to Totem Pole Park!  You can buy tickets for $10 each to be entered to win a number of fabulous prizes.  Go to the website for more information about the event and what the money is used for.  Click here to buy tickets and learn more about the prizes.  

Thank you for supporting these wonderful, Crested Butte non-profits.  We have a lot of non-profits and they count on the support of residents and visitors to make this community what it is.  Let me know if you have questions about other organizations who could use your support.

Posted in: Blog, Community

2020 Summertime in Crested Butte Real Estate Update

MARKET THOUGHTS

Recently, a lot of people and businesses have realized that working from home is not only doable, but can be a great choice.  If you are able to work from home, what better place to do it than Crested Butte?  It seems that a lot of people are thinking this way or at least hoping to be prepared if it becomes necessary down the road by looking at Crested Butte real estate.  Since the beginning of June we have had a lot of activity in real estate and it doesn’t seem to be slowing down.  Typically June is a relatively slow month compared to July, August and September, but with cases of COVID-19 spiking in areas where many of our visitors come from, who knows what the future holds.

We are seeing the usual increase in listings for the summer season, but still have low inventory in some segments of the market.  There have been several properties which received multiple offers in the last few weeks so it is still important for buyers to be ready to act if something they like comes on the market.  I am happy to keep an eye out for what you are looking for so you can have a leg up on other buyers.

MARKET STATISTICS

Dig deeper into the actual numbers here.

CRESTED BUTTE SUMMER

Crested Butte is a wonderful place to be during the summer months.  High temperatures in the 80’s (if that) and crisp, cool nights are why so many people come here to escape the heat.  The mountain views, incredible wildflowers, amazing sunsets (and sunrises) and plenty of places to enjoy the company of friends and family truly make it so special.  We are still unsure of what is going to happen next with the Coronavirus so for now I am just enjoying being outside and with people when I can.

Town is taking advantage of the potentially slower summer and is testing out making Elk Avenue one-way.  This allows businesses to expand out onto the street and potentially creates a more festive atmosphere.  We are two weeks in and so far people seem to be enjoying it.  I hope you are able to come and enjoy some time here.

I hope to see you in person in the near future, but in the meantime please connect with me on social media.  It is great to feel connected even when we are not in the same place.  Please let me know how I can be of assistance. Stay well!

Molly
(970) 209-4234

Posted in: Blog, Community

Crested Butte Real Estate Market Statistics through May 2020

Here are the monthly statistics through May. This is information for the last twelve months as compared to the same time frame last year. May was a dismal month for completed sales and June seems likely to finish down as well. There are a lot of people looking at real estate and properties are going under contract so July will provide a big bump. Prices have stayed the same as they were pre-COVID and contracts continue to come in close to asking prices.

Posted in: Blog, Market Update, Market Updates

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About Molly

I am the Owner and Managing Broker of Coldwell Banker Mountain Properties in Crested Butte, Colorado. I work full time with buyers and sellers in the area. The Crested Butte and the Gunnison Valley have been home since 1997 and I have been selling real estate here since 2006. My favorite part of my job is talking about & exploring this special place with buyers and sellers.

Testimonials

Even when the market was slow, Molly always kept us updated on market changes so we could make the best decisions on selling our house. Anytime we had a question or needed information, the follow up was always timely and complete.

W & P Rickards

She gave us good counsel throughout and always handled our side of the transaction cleanly. Thanks Molly!

Dave & Ellyn

Molly is true professional- thorough, knowledgeable, responsive, a great problem solver and a tough negotiator. She is very well connected in the Crested Butte community and uses those resources to facilitate a smooth transaction. Most importantly, I always felt like she was truly watching out for me. Highly Recommended!!!

Kelly G

Molly is a top-notch realtor! She helped us every step of the way to find our perfect property. She is smart, patient, knowledgeable, and professional. We would certainly use her again, and would recommend her to anyone who wants to buy or sell a home.

Geoff & Krista

Molly’s great. We’ve worked with her through three transactions, both buying and selling, and couldn’t be happier. She knows CB real estate inside and out. When it comes to buying, she listens and is very good at zeroing in on what sort of property will work for you, and as far as I can tell

Rob Z

Working with Molly was an outstanding experience. Molly understood our quirky interests and helped us find the ideal piece of real estate. Then, she expertly guided us through the process to closing, including talking us down from few ledges. We are delighted to have worked with Molly and look forward to future adventures in CB

Kate & Matt

We recently sold our condo with the help of Molly Eldridge of Red Lady Realty. She did a great job representing our interests in a timely way, doing everything she could to expedite a complicated sale. She is extremely knowledgeable and definitely willing to go the extra mile to assure that any issues are quickly

K & C Duncan

She found exactly what we were looking for and we purchased the home. Our offer was submitted promptly and negotiations were quick and accurate. Molly was very helpful during the due diligence as we are not Colorado residents.

Roger & Darcie

Molly is wonderful! She is very “down to Earth” and incredibley knowledgeable of the local market. Her mailers/emails are very informative, and demonstrate her grasp of what’s happening here in CB at this precise moment.

Kory

Molly has been a terrific agent for us twice — helping us sell a condo in Crested Butte a few years ago and more recently helping us sell a 4-bedroom home. She has exhibited exactly the right balance of aggressiveness and patience with us and on our behalf.

Brad & Laura

Molly was knowledgeable of the area and she stuck with us to get our condo sold. If we ever are looking for property in the future in the Crested Butte area we would call on her.

Karen

This is an excellent agent, I was one until 2007 for 36 years. We had a really small value lot to sell in bad time and she hung in there and sent me market information about what was going on almost every month.

Sandy Williamson

Molly was great to work with! She was always responsive and provided info along the way that left me reassured that my condo would sell at the selected price. Thanks Molly!

Vic

We’ve used Molly on two transactions and she closed a deal with some good friends of ours too and we are very happy with her real-estate skills. We’ve bought two houses through her and are currently trying to sell one of them. I highly recommend Molly and her company Red Lady Realty!

Bob & Steve

Molly is a true real estate professional and was instrumental in purchasing our property. Buying a property can sometimes be challenging but Molly made the process easy. Molly’s knowledge of the market, recommendations on the steps to follow throughout the buying /closing process and her answers to our questions and concerns made the entire process

Jim & Gayle

We had a small time window, specific needs, and a very limited budget to purchase a condo in a rising market. If it were not for Molly’s attentiveness we would have missed our opportunity to move to our dream location. Molly understood exactly what we were looking for and notified us of the place we

Joe & Kelsey

Molly was the key to finding and buying our new CB house. My wife and I had looked at properties with Molly for three summers before really being ready to commit to another Colorado house. Each time she was knowledgeable, informative, and patient. She was always available and flexible. When we finally found what we

David & Susan Light

We decided to list our Links Lane Condominium with Molly. Molly was helpful and professional throughout the whole listing process. Anytime we had a question or needed information, the follow up was always timely and complete. When the market was slow, Molly kept us updated on market changes so we could make the best decisions

Reagan & Kyle Kneese

We first met Molly when she worked with the property management company who rented and took care of our home. When she became a Realtor she communicated with us, but we decided initially to list our home with another agent. She was persistent, professional and helpful so eventually we listed our home with Molly. Even

W & P Rickards

Molly worked with us for over two years to find the perfect home for our family and budget. She exhibited tremendous patience as we continually refined what we wanted, as well as flexibility to show homes at a moment’s notice. Her knowledge of the local real estate market and genuine enthusiasm when we found the

Torrey & Rosemary Carroll

Molly worked with us for 4 years to find the right house in Crested Butte. We visited and looked at property in each season of the year. Her advice was invaluable as was her knowledge of neighborhoods and the town. She guided us through the purchase and got estimates on repairs needed for the property

Wil Hamilton & Jackie Bird

Molly was absolutely critical to helping us find our new home in Crested Butte. Although we had identified all of the “must haves” we needed, we were buying from out of town and had to rely on Molly to identify properties to view during our short weekend visits. Working with Molly via email and phone

Steve & Larry

We were looking forward to searching for a domicile in Mount Crested Butte for getaways with our family. Molly helped us navigate through the listings and showed us properties which matched our desires and stayed in our price range. We ended up with a great place to enjoy our time in Colorado and could not

Dave & Jenny

Choosing Molly Eldridge as our Realtor for the recent purchase of a Condo has given us the opportunity to work with a true professional. Molly not only walked – and talked – us through all the different steps along the way, but she also went above and beyond the basics by providing valuable information our

JD & Veronika

Dear Molly: Thank you for your assistance with my recent property purchase. I appreciate the time, effort and persistence you put into managing this purchase. Not being too familiar with the area, and living out of town, I was able to rely upon your timely and accurate communication to research and understand what I was

Todd Wiseman

“I have known Molly professionally for probably over 10 years, and was introduced to her by-way of her informative newsletter about Crested Butte realestate. My wife and I have been looking at property for close to that same period. Molly has shown both professionalism and patience dealing with and representing us as a buyer for

Molly was a pleasure to work with. She was very flexible in terms of scheduling, and very responsive in her communication. She made our buying process very smooth and worry-free!

Christian & Emily

I have known Molly for many years, first in the Property Management field, and more recently in Real Estate Sales. I have always felt I could trust her to tell me the truth and treat me fairly.

Paul A.

Molly was fantastic. Truly knowledgeable of the market, honest from day one about what was realistic on our budget and what the financial reality of owning a rental property in CB is like, and super-responsive. I don’t think we ever waited more than an hour or two for a response from her. She’s seen examples

Andrew & Jamie B.

Molly is very professional, responsive, knowledgeable, never disappoint. I worked with her twice and have been always satisfied. She even helped me to find new real estate agent in different state.

Martina K.

Molly was very knowledgeable about Crested Butte. She helped us with some information about various areas we might want to buy a place in with pluses and minuses. We did several scouting trips with her. When a condo in the complex with the view we wanted came on the market, she really worked magic. She

Julie K.

Contact Molly

215 Elk Avenue, PO Box 100 Crested Butte, CO 81224

(970) 209-4234
molly@cbmp.com
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