12.14.09
Great News for Gypsum: The Town of Gypsum has Purchased the Cotton Ranch Golf Course
It’s official — the town of Gypsum is under contract to buy the Cotton Ranch Golf Course, which has been in financial straits.
“It will be an affordable municipal golf course,” said Town Manager Jeff Shroll. “Greens fees will rival those charged in Garfield County or maybe even Mesa County, which are the cheapest places to golf on the Western Slope.”
Gypsum will buy the course through a lease purchase for $2.5 million, with a closing date in mid January. Shroll emphasized the town is not cutting services or raising taxes for the deal.
“We feel like we need to protect the [value of] homes,” Shroll said, explaining that such a struggling operation affects property assessments townwide.
The course has been financially troubled for at least a year. The owners of the golf course — Cotton Ranch Club Inc. and Cotton Ranch Company, LLC., based in Gypsum — defaulted on their loan from PMC Commercial Trust. That set off a series of court hearings and the course operation was placed in the hands of a receiver last spring.
Eventually PMC Commercial, the lender for the Cotton Ranch golf course, purchased the asset at an Eagle County Assessor sale in July. The purchase price was $1.7 million. The lender was the only bidder at the sale.
Since the golf course went into foreclosure earlier this year, PMC Commercial contracted with Edge Golf Group to manage the golf course and other club facilities. Attorney Bob Holmes, who was representing PMC at the assessor’s sale, said his clients don’t want to be in the golf course business. He noted PMC Commercial Trust was interested in talking to anyone about a purchase and that the company just wanted to get the loan repaid.
Gypsum town officials considered the prospect of buying the course for seven years, Shroll said, “when prices were $5 million to $7 million higher.”
The town elected not to participate in the foreclosure sale several months ago because that process was hampered by the fact that the successful buyer would acquire the course in its present state.
Shroll noted by holding off, the town was able to complete comprehensive due diligence process. That process included an examination of homeowners’ rights with respect to the club takeover.
With the buy, Shroll said, Gypsum “could become one of the premier recreational towns in the county.”
This artical is provided by The Vail Daily written by Derek Franz. Eagle Valley Enterprise editor Pam Boyd contributed to this report. View this artical on Vail Daily: CLICK HERE
View a List of ALL Available Cotton Ranch Golf Homes: CLICK HERE
View ALL Gypsum Homes for Sale by Map: CLICK HERE
Contact Us For a List of ALL Eagle County Foreclosures & Short Sale Opportunities: CLICK HERE
11.20.09
Open House in Cotton Ranch – New Luxury Golf Course Homes
40 Coyote, Gypsum CO
You’re invited to please stop by this Saturday or Sunday (November 21st & 22nd) 11-4pm and take your pick of these beautiful golf homes – sure to please and a fantastic holiday gift for the most descriminating Buyer. Directions: take the Gypsum Exit head South to Valley Rd. – turn Right to Cotton Ranch Lane – Right to Coyote – turn left at its on your right 40 Coyote. Can’t stop by call Debra Duvall for your personal Cotton Ranch Home Tour and see some of the best property in the Gypsum Valley.
11.19.09
REO Cotton Ranch Golf Front Home Reduced to Sell $699,900
One of the best home designs on the Cotton Ranch Golf Course just perfect for those that want it all. A great deal on a luxury home with all the amenities featuring; 5 Bedrooms, 4.5 baths and a huge 3 Car Garage with over 4800 S.F. there’s room for everyone. Click Here to check it out in more detail and call for your private home tour today. Short Sell possible here. Vail, CO
11.05.09
Home Buyer Tax Credit Extended and Expanded, Eagle Cty CO
USA Today reports that Senators agree to extend homebuyer tax credit through the end of April AND offer a reduced credit of up to $6500 for repeat buyers who have owned their current homes for at least 5 years! Visit our website to search Eagle County Homes and call the office for assistance in finding some of the best deals in the Vail Valley. Edwards 970-926-7283 Eagle 970-337-7283
10.29.09
Luxury Home on 2 Acres – Reduced $200k for Possible Short Sell
You’ll be living the dream in style when you buy this beautiful custom ranch home. Well built and maintained with every imaginable upgrade for your living pleasure. A large open comfortable floorplan (4BR/Ofc/3.5Baths) with craftmanship throughout from baseboards to vaulted ceiling, three car garage and decks ideal for BBQ’ing and taking in the valley (including golf course) and mountain views all on 2 acres. Located in the small community of Hardscrabble you’ll have country living bordered by BLM and town convenience only minutes to dining, golf, schools, fishing and the eagle valley airport. The perfect home for those that want it all and a little open space. So nice, you’ll think you are vacation. Now reduced to only $795k. Call Debra Duvall 970-471-1706 for more info or to arrange a showing.
10.14.09
Lowest Priced Ski Condo at base of Beaver Creek, CO
Liftview Ski Condo
Priced like Short Sell but it’s not. A Must See Value 2 Bedroom Condo in Liftview that is in a Prime Avon Location, just steps to the Eagle River and Bike Path, Bus Line, new chairlift leading up to Beaver Creek (Beaver Creek Landing) skiing, as well as the new Gondola at the Westin Riverfront Complex. This is a sought-after Top Floor Unit with Vaulted Ceilings and is Priced to Sell Fast being the lowest priced property in Liftview or Sunridge. Whether you are looking for an Investment Property (this makes for a fantastic rental) or a Primary residence, this unit will surely impress. Call Matt Blake or Peter Siccardi at 926-7283 for help in finding the best deals in the Vail Valley.
10.09.09
Lot Distress Sale Only $114,000 – Best Buy
High Flat View Lot
Attn: HOME BUILDERs – WANT VALUE? How about one of the lowest priced lots in Cotton Ranch, large, high and flat and now only $114,000 it’s a super “best lot buy“. Enjoy beautiful valley views and quality of life living in one of the nicest golf course subdivisions in the Vail Valley. All the convenience – close to airport, 30 minutes to skiing and a longer summer season here in Eagle Counties banana belt. Call – Owner/Broker Debra Duvall 970-471-1706
EAGLE RIVERFRONT Lot Reduced to $150k to Sell Today
Eagle River Spring Runoff
Nothing like living on the River – even better is building your perfect dream home on the Eagle River in the low tax area of Willowstone which means affordability and tranquility. Developer’s favorite lot just reduced to only $150,000 (from $235k). You’ll be watching the Eagle’s nest by Spring if you start now and buy the best lot in Gypsum. Click here for more info or call Debra Duvall Owner/Broker now at 970-471-1706.
$100k Reduction & Possible Short Sell on Luxury Golf Course Home
Golf Course Front
One of the best home designs on the Cotton Ranch Golf Course just perfect for those that want it all. A great deal on a luxury home with all the amenities featuring; 5 Bedrooms, 4.5 baths and a huge 3 Car Garage with over 4800 S.F. there’s room for everyone. Click Here to check it out in more detail and call for your private home tour today. Short Sell possible here. Vail, CO
Affordable 4BR Home on Open House 10/10 12-3pm
Reduced for quick sell and now with a $8,000 tax credit available to qualified buyer’s- this rare 4 Bedroom Home is an opportunity that First Time Home Buyer’s will love. Come check it out this Saturday on Open House from 12-3pm with Merced Cervantes (se habla espanol 970-987-1962). A convenient affordable home now remdoled with NEW paint, blinds, carpet and a Trex deck just perfect for you. Click here to see this Gypsum Estate 4BR priced at only $325,000.
