Brower: Granby and Grand get real estate boost with surprise ranking
The Fraser to Granby Trail, south of the pavilion parking lot, overlooks the Granby Ranch.
Sky-Hi News File Photo
Granby has made a name for itself in recognizing the national property market thanks to a top 10 ranking in “The 10 Best Places to Buy a Winter Vacation Home” as rated by Vacasa.
Forbes magazine, a nationally respected business magazine with worldwide reach, reported on Granby’s surprise ranking in its February 27 issue.
Forbes relied on Vacasa as a trusted source when evaluating vacation homes. According to Wikipedia, Vacasa is an international rental company based in Portland, Oregon. The company provides property management services for over 25,000 vacation rentals in the United States, Europe, Central and South America, and South Africa.
Has Granby really had the big days, especially when compared to places like Breckenridge and Winter Park?
“There are some surprising markets in this year’s report,” said Shaun Greer, Vacases’ vice president of sales and marketing, in the article.
“But there is also consistency with the best spots last year to buy a winter vacation home. Homeowners looking to invest in these destinations want to see that consistency in terms of cap rate or ROI, ”advises Greer.
Look at new and increasingly popular ski resorts as options, the article paraphrases.
“It was no surprise that states like Colorado, Montana and Vermont were prominent again this winter, but we welcomed a first-time destination on the list: Granby, Colorado, an up and coming mountain town between Winter Park and Grand Lake,” said Greer .
So there you have it. Granby is an up and coming mountain town. Who would have thought?
Well, I certainly would have thought so, based on how things went over the past year, not least of what I would call a feverish real estate market and positive news from the Granby area.
Let’s start with the obvious. The new River Run Resort near Granby has given a boost to the typical tourist and vacation trips in the Granby area. It’s a massive development with a lot of tourist potential for Granby.
The situation at Granby Ranch is not exactly good as it is being put up for sale by lenders. But there is real hope and optimism about what the future will bring once the huge resort estate across Granby gets into the right hands.
The once-dying Grand Elk has seen extremely robust real estate construction and new home and townhouse sales, with waiting lists filling up daily. Home sales in Granby have seen high prices and extremely short waiting times for purchases.
And then there is the commercial side. There is a demand for commercial real estate and movement is now taking place on buildings and land in the city. The city has the promise of brand new commercial, office and townhouse properties. Believe me, downtown Granby will look very different in two years.
Yeah, that’s good news. But it is also good news with a very mixed blessing. Ordinary middle-class workers on a decent income cannot afford to shop in this hot market. Worse still, there isn’t much (if anything) to buy in this area anyway. There isn’t much for people to rent for a fair price. The bottom line of this is that it is nearly impossible to find workers for even safe, medium-paying jobs.
Granby, like much of the rest of Grand County, is experiencing the problems and growth pitfalls of being a top ten. Let’s assume it, of course, but let’s understand the broader implications of the top ten.
Patrick Brower is the Enterprise Facilitator for the Grand Enterprise Initiative. He offers free and confidential business management coaching to anyone looking to start or expand a business in Grand County. He can be reached at 970-531-0632 or at [email protected].