Paula Gaul

Rumours around town of an Annika Sorenstam golf course at Red (click for full story). Do I believe it? Yes, it is certainly possible, but it does still have a few hurdles to overcome before it's a sure thing. We should know more about the plan soon, but it would still have to go through environmental approvals etc. As long as it is all environmentally sound, I'd LOVE to have another great golf course in town!

Prices in town have pushed up, but the real story now is the scarcity of decent homes for sale. Simple 2 bedroom homes are over $200,000, small 3 bedroom homes from $250-400,000, and nice, solidly built 3 or 4 bedroom homes over $400,000. Building lots are rare as well, with the last of the Redstone golf course lots sold, and Phase 2 not yet released.

With the lack of available houses for sale in town, the price gap between town and the mountain closing, and the higher quality at the mountain, some potential residents stretch for slopeside, where a spacious 1200sqft 2-bedroom condo can be had for $339,000, and 3-bedrooms for around $400,000. Red is due to release some single-family lots this winter as well, no firm word on the price yet, but probably twice the price of the lots in town.

Rental home availability is very scarce for this winter season, and rental prices have not kept pace with the rise in home prices. I expect some small rental price inflation over the coming months. City Council is introducing a plan to make secondary rental suites acceptable in all houses, provided that parking is available, and will actually encourage suites in all new homes. This should help people pay their mortgages and provide additional rental units as well.