Still Keeping Locals Local

Woo Hoo!  Once again, your Seven-time Locals Realtor of the Year, Teddy Errico, with LIV Sothebys Intenational Realty is helping to keep a long time Local here in Telluride for the forseeable future!

 This time?  Teddy sold Two Rivers at Morningstar Unit 2 at $325,000 to a lovely local who works in the lodging industry.   One bedroom and One bath total, this property sits just a few miles outside of town in Ilium.  

The condominium is deed-restricted.  What does that mean?  Well, it is a little complicated, but in Telluride, Mountain Village and San Miguel County there are hundreds of properties that are sold that carry restrictions on the residence that run with the title and cannot be changed.  That could mean income limits, earning salaries in the local area with a minimum hours worked requriement, living in the immediate region for a certain period of time prior to being allowed to purchase, no short term renting the property, sometimes no long term renting either, resale price caps and living in the unit full time.  If you need details on this?  We have the San Miguel Regional Housing Authority to available to answer any questions you may have.  For more?  www.SMRHA.org

For this unit?  It was mainly tied to earning your income in San Miguel County/the R1 Telluride School District Area.  So it represents a solid long term investment, while providing the pride of home ownership.

And don't worry, there are many other affordable housing projects in the pipeline, both for sale, and rent.  Ranging from the Tower House in the town of Telluride. The Ilium Project for the Town of Mountain Village and the Pathfinder project for San Miguel County.