Home in the range

They say that mountain living “isn’t for sissies.” With wildfires an ever-present threat during the hot, dry summer months, purchasing a high-end mountain home can seem like a risky investment. But for those who are determined to live in the mountains, the benefits far outweigh the threats.

“You assume the risk of living somewhere where the potential for fire is higher in order to enjoy the benefits that serene mountain living provides,´ said Geri Oliveira, a Realtor at Wright Kingdom Real Estate.

During the past few years, the economic slump and natural hazards such as wildfires have combined to cause a drastic drop in mountain home sales.

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Mountain properties “are a niche market, and when there are general market turndowns, niche markets tend to get hit the hardest,´ said Barry “Bear” Friedlander, who, along with his wife, Liz, has worked with Re/Max of Boulder for 29 years and specializes in mountain real estate.

To illustrate the challenges, Friedlander said that, of the 567 single-family detached homes sold in Boulder County during the first quarter of 2012, only 12 (slightly more than 2 percent) were located in the mountain areas near Boulder.

However, the mountain market has enjoyed resurgence in recent months.

“Two years ago, the high-end mountain market was almost nonexistent,´ said Oliveira. “Thankfully, the pendulum is swinging the other way again. As with the real estate market in general, mountain homes are experiencing a big revival in interest.” Now, Oliveira said, about a third of her business involves serving buyers and sellers of mountain properties, a significant increase from years past.

In fact, as the economy continues to recover, many people are finding that a mountain home actually may provide more value for their money.

“It’s hard to beat what the mountains offer,´ said Candace Loving, an associate broker with Colorado Landmark, Realtors. “It’s a quality of lifestyle that isn’t always affordable in town.”

The two main features high-end mountain homes offer — amenities that might not be available or affordable in the city — are privacy and breathtaking views.

“Views, privacy and convenience to town would be top things buyers are looking for,´ said Oliveira. “It seems buyers want to be within a short distance of town, and they want the feeling of distance and solitude as well.” She added that the ideal mountain home also has an open floor plan and architecture that showcases the views.

The right mountain home even can act as a sort of sanctuary from the hustle and bustle of daily life.

“When you drive home from work, it’s almost like going on vacation,´ said Oliveira, who has lived in the mountains above Boulder for 28 years.

Who are the buyers for these mountain homes? Loving and Oliveira said many of them come from out of state, looking for vacation homes or relocating here for work. Friedlander said mountain homes are especially popular with people who work from home offices.

“They’re enamored with Colorado, and they want to live like it’s Colorado,” Loving said. “To be able to walk outside and smell the pines and have access to nature.”

“In the old days, everyone moving to our area had a dream of living in the mountains,” Oliveira said. “After weighing the pros and cons, city living makes more sense to many people, but in my experience, a mountain retreat is usually still high on the list of anyone wanting to live here.”

Loving said that she also sees a lot of people relocating within the mountains, since it’s often easier and cheaper to buy a new home than it is to remodel an older one. She said that recent remodels that included fire mitigation have been instrumental in protecting homes during recent wildfires.

One thing the mountains lack at the moment is a selection of new homes.

“I’m amazed by the lack of new construction available,” Loving said. “In 2012, people seem to appreciate new construction because of the better mechanical systems those homes can incorporate, such as on-demand hot water, energy-efficient appliances and radiant heating. … . It’s too bad we don’t have more new construction to offer buyers.”

Despite the difficult market and the fire danger, Friedlander, who lives in the mountains northwest of Boulder, said mountain living is worth it: “The inconvenience and challenges are an easy tradeoff,” he said. “We often say that this is the real reason why we live here in Boulder.”