TELLURIDE REPORT The Volume I - 2013 MARKET UPDATE: YEAR- in the Historic Town of Telluride (15 of 34 in TREC WELL REPRESENTED AT CHRISTIE’S 2012) averaged $1,052 per sq. ft. vs. 10 of 29 GLOBAL ANNUAL CONFERENCE END AND A “DECEMBER sales in 2011 at $785 per sq. ft.

Affi liates From Around the World Gather in Miami, Florida TO REMEMBER” Sales above $2M in the Mountain Village (11 Each year, Christie’s International Real Estate hosts a of 22 in 2012) averaged $619 per sq. ft. vs. Relative to 2011, Dollar Volume in global conference, a highly successful work meeting that 5 of 9 sales in 2011 at $535 per sq. ft. Most 2012 For the Entire San Miguel County sets the stage for objectives in the year ahead. TREC took Increased 47% notably, 5 above $4.65M, 3 of which were part in the Christie’s Global Annual Conference this winter between $9.5M and $12.5M. in Miami, Florida; our President and Marketing Director The Telluride marketplace recorded over attended this year’s multi-day event, a large gathering $76 million in closed sales for December, that brought in affi liate representatives from more than 25 countries world-wide. A keynote speech by new CEO the largest month since July 2007 ($90 Bonnie Stone Sellers, which kicked off the conference, million). Relative to 2011, dollar volume presented a statistically rich picture of our affi liates and for San Miguel County increased 47%, agents, and the locations, properties and transactions that make up the Christie’s global network. Following this, with Mountain Village experiencing a 69% industry experts and guest speakers provided valuable increase and the Town of Telluride 27%. insight on such subjects as how to better market real estate to qualifi ed buyers and sellers and how to continue to In the recent past, 2010 experienced an harness the power of the internet as a useful selling tool. annual increase in sales that year over 2009 of nearly 20%. However, 2012 eclipsed 2010 During this conference, CIRE also released a new research gross dollar volume by nearly 15%. Investor document called “Luxury Defi ned: An Insight Into The Summary Luxury Real Estate Market,”, which offers facts and fi gures attitudes have shifted to resort real estate as The Telluride real estate marketplace not on some of the most important cities in the world of real a safe haven for capital in a market that has estate, and develops the Christie’s International Real only demonstrated resiliency, but dramatic “bottomed out.” Telluride, with its limited Estate Index to measure the relative “luxury” ranking of the improvement in the face of an election supply of inventory, continues to provide cities studied. In this whitepaper, Telluride is represented year and a fi scal cliff. Vast improvement of within the “jewel box” segment of the luxury real estate some future assurance against defl ation gross dollar sales throughout the region market. and offers an intangible quality of life in an and strong hints of increasing values bodes uncrowded resort environment. Contact your TREC broker for a copy of “Luxury Defi ned” well for 2013, especially when one considers and a full report of the latest updates and initiatives from There is compelling evidence that certain that $73.3M are currently under contract, this highly-effective conference. segments of the market are beginning to most of which should close within the fi rst witness signs of infl ation. Sales above $2M quarter. FEBRUARY

TELLURIDE SKI RESORT VIDERGIZE OPENS A NEW of qualifi ed professionals with those people 23-3/3 Telluride Gay Ski Week INSTALLS NEW “POWDER FILMING STUDIO FOR seeking affordable access to quality fi tness 26-27 Leftover Salmon 27-28 S TEDx Telluride Live CAM” IN PROSPECT FITNESS AND WELLNESS and wellness instruction.” BOWL VIDEOS MARCH

Still Photo is Updated Every Five Vidergize, Inc., a New Global Video 1-3 Land Rover Drive Event Minutes; View In Timelapse To Watch Streaming Platform for Fitness and 2 Telluride AIDS Benefi t The Snow Accumulate Wellness Has Opened a Filming Studio Gala Fashion Show in Mountain Village 2-3 Grant Farm Live in Concert 3 Rock Photographer Bob Vidergize was conceived by Len Metheny, Gruen/Apres-Ski Book- Signing a resident of Telluride, who wanted to 4 Telluride AIDS Benefi t create a unique and improved approach to Trunk Show streaming fi tness and wellness education 4-8 SMRC’s Phenomenal through the Internet. Unlike most fi tness “This is such an exciting opportunity for Women’s Week 8 TASP: Going Cowboy sites that have a limited range of fi tness me,” said Alyssa Saunders a yoga instructor and personal trainer working out of at the Opera instruction, or that charge expensive 7 Yo Mama’s Big Fat Booty monthly access fees, Vidergize will Telluride. “To think that I can fi lm my classes Band allow video programs and content from and workout programs and make them 14 Vagabond Opera and the available to people around the globe while Dirty Bourbon River Show The Telluride Ski Resort introduced certifi ed and accredited fi tness and health making money each time they are viewed is 15-17 Land Rover Drive Event Telluride’s new Prospect Snow Cam in professionals to be uploaded and made 16 This Must Be the Band, an a huge opportunity for me.” February 2013. The Prospect Snow Cam available to the public on a pay-per-view 80s Centennial Celebration Party shows how much fresh, untracked powder model for $.99. The video contributors Telluride was selected to host Vidergize’s 17 Saint Patrick’s Day Party you will ski in Prospect Bowl. The shelf is receive a royalty for each view of their video. fi rst fi lming studio because of the quality with Joint Point cleared of snow when the lifts stop at 4pm 23 New Belgium Scavenger and quantity of fi tness and wellness talent each day, so check back in the morning “We are excited about the early feedback Hunt that live in the small mountain town. People 24 The Dunwells to see if that day is a powder day! Visit we are getting from the fi tness and wellness from around the world seek the professional 27 MarchFourth Marching Band tellurideskiresort.com/prospectsnowcam community. Personal trainers, coaches, trainers and coaches that reside here, and 28-29 The Cave Singers to view the snow cam, along with other on- fi tness class instructors, nutritionist and 29-30 Burlesque, a Telluride now people will be able to access them via mountain live cameras. even spiritual healers are enthusiastic Theater Fundraiser about the possibility of video recording the Internet any time they want. 30-31 Toubab Krewe Live Update Schedule: Every 5 minutes their programs to post in Vidergize and For more information about the Vidergize APRIL Altitude: 10,940 feet share with people around the world,” said Telluride Studio, visit: ALENDAR OF EVENT Orientation: Southwest Metheny. He continues, “Vidergize is being 5 KOTO Street Dance designed as a platform to bridge the wealth www.vidergize.com/telluride 7 Last Day of Ski Season

7 C Gondola Closes NEW LISTINGS TELLURIDE REPORTS RECORD SALES TAX RECENT SALES NUMBERS FOR 2012

Tax Revenue Was Up 3% in 2012 Over 2011, Which Was Also a Record Year

Bolstered by a packed summer festival and event schedule, including several new events in 2012, the Town of Telluride 741 MOUNTAIN VILLAGE BLVD. reported record sales tax revenues of This 6-bedroom, 8.5-bath, 8,861 square- foot residence designed by Charles Cunniffe $4.49 million, a 3% increase over 2011’s PA GOMO: $13,200,000 EAGLE’S REST: $12,300,000 tastefully adapts the vernacular of European numbers, which also represented a record Listed and Sold by TREC Listed by TREC ski lodges to a more refi ned Colorado mountain style. OFFERED AT: $8,750,000 year. Town offi cials attribute the success to several sources, including several new summer events, increased awareness of Telluride’s brand, Telluride’s high ranking in readers’ polls and ski magazines, and increased marketing efforts from the local tourism board and various lodging companies.

GRANDE DAME OF GALENA BLUEGRASS TICKETS TWO TRAILS LODGE: $9,500,000 HUGHES HOMESTEAD: $4,900,000 Listed and Sold by TREC Listed by TREC The setting says it all - end of the road privacy, over 155 feet of stream frontage along Cornet ALREADY SOLD OUT Creek, seven and a half lots in a lush wooded setting only three blocks from town services This Year’s Four-Day Passes Sold Out and amenities. OFFERED AT: $7,000,000 In Less Than Four Hours

This year’s lineup includes Mumford STEVE CATSMAN & Sons, The Sam Bush Band, Jackson [email protected] Browne, Emmylou Harris & Rodney cell 970.729.0100 Crowell, Yonder Mountain String Band, office 970.728.1605 / Feist, Hot Rize, Leftover Salmon, Tim O’Brien, Richard Thompson, The Jerry 970.728.3737 230 SOUTH FIR STREET: $4,700,000 227 RUSSELL DRIVE: $2,500,000 fax 970.728.4917 Douglas Band, Peter Rowen, Trampled By Listed and Sold by TREC Listed by TREC P.O. Box 65, 232 W. Colorado Ave. Turtles and many, many more. Thursday Telluride, CO 81435 and Sunday tickets are still available.