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         <Name>The EPIC Ski Pass is now a Reality- Only $579</Name>
         <Summary>Unlimited Access to Riding and Skiing at Breckenridge, Arapahoe Basin, Keystone, Vail and Beaver Creek</Summary>
         <Description>&lt;p&gt;&lt;font size="4"&gt;The &lt;a href="http://www.summitdaily.com/article/20080319/NEWS/762782853&amp;SearchID=73314249122918" title="Summit Daily News Article"&gt;&lt;strong&gt;newspaper&lt;/strong&gt;&lt;/a&gt; came across my desk almost three weeks ago, and the front-page article indicates that Vail has offered the &lt;a href="http://www.snow.com/epicpass/home.asp?CMP=KNC-Google&amp;HBX_PK=Epic%20ski%20pass&amp;HBX_OU=50&amp;gclid=CNqiqsGX0ZICFQ4JPQod5jGWUA"&gt;&lt;strong&gt;Epic Pass&lt;/strong&gt;&lt;/a&gt; for the 08-09 season.&amp;nbsp; I almost do not believe it, just as I don't believe there is a snowstorm howling outside the SnowHome Properties Office dropping inches on snow on what should be a calm April day.&amp;nbsp; The Epic Pass&amp;nbsp;gives anyone who signs up for it unlimited and unrestricted access to all 5 Colorado mountain resorts- Vail, Beaver Creek, Breckenridge, Arapahoe Basin and Keystone - and also Heavenly.&amp;nbsp; You have until November 15th to get yours.&lt;/font&gt;&lt;/p&gt;&lt;p&gt;&lt;font size="4"&gt;This move by Vail, offering a pass that is cheaper than the Vail season pass but comes with all it's benefits, stirred a conversation with a local graphic artist.&amp;nbsp; From my understanding, before the Epic pass, merchants had to join a business association in order to get their employees a discounted Vail season pass.&amp;nbsp; &lt;a href="http://www.vailvalleypartnership.com/general.asp?id=26"&gt;&lt;u&gt;&lt;strong&gt;Vail Valley Partnership&lt;/strong&gt;&lt;/u&gt;&lt;/a&gt;&amp;nbsp;is&amp;nbsp;an example, but each major town in Eagle County has&amp;nbsp;one.&amp;nbsp; The business owner used to pay to join and a season pass dropped from&amp;nbsp;$1,849 to&amp;nbsp;$869 for the 07-08 season.&amp;nbsp;&amp;nbsp;The fees to join are steep, but as a bonus, you are required to help fund&amp;nbsp;an advertisement magazine to show your product and promote local business.&amp;nbsp; Unfortunately, Vail decided to have an out of state&amp;nbsp; graphic artist and printer take on this project, which doesn't help or promote local business.&amp;nbsp; Now with the discounted Epic pass, employers will no longer need to retain membership in the business associations to get the discount on the pass.&amp;nbsp; If they don't want to pay Vail's fees for advertising and printing, they can&amp;nbsp;spend those advertising dollars with local printers and graphic designers.&amp;nbsp; The Epic pass is a pleasant switch from Vail after steady increases in season pass prices over the past few seasons. &lt;/font&gt;&lt;/p&gt;&lt;p&gt;&lt;font size="4"&gt;Vail will still offer the Summit Pass, formerly the Buddy Pass, which gives the rider unlimited Keystone, Breckenridge and Arapahoe Basin&amp;nbsp;for $399 and the Colorado Pass- KAB and 10 days at Vail and Beaver Creek with black out dates for the busy weeks for $439. &lt;br /&gt;&lt;/font&gt;&lt;/p&gt;&lt;p&gt;&lt;font size="4"&gt;Pray for great snow next year.&amp;nbsp; &lt;br /&gt; &lt;/font&gt;&lt;/p&gt;&lt;p&gt;&lt;font size="4"&gt;&lt;/font&gt;&lt;/p&gt;&lt;p&gt;&lt;font size="4"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;</Description>
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         <Name>Vacation Homes and Investment properties continue to be bought at a Healthy Rate</Name>
         <Summary>Second homes account for 33% of all new and existing home sales</Summary>
         <Description>&lt;p&gt;Last week, the Mortgage Daily wrote an &lt;a title="daily article" href="http://www.mortgagenewsdaily.com/4172008_vacation_property.asp"&gt;&lt;strong&gt;&lt;u&gt;article&lt;/u&gt;&lt;/strong&gt;&lt;/a&gt; on the &lt;strong&gt;&lt;a title="NAR website" href="http://www.realtor.org/"&gt;&lt;u&gt;National Association of Realtors&lt;/u&gt;&lt;/a&gt;&lt;/strong&gt; study on the&amp;nbsp;home market in 2007 and, where second home sales fell along with the overall market, second home sales accounted for 33% of all new and existing home sales. This percentage was down slightly for the 2006 figure of 36%.&amp;nbsp; &lt;/p&gt;&lt;p&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; The Investment and Vacation Home Buyers Survey&amp;nbsp;was extensive and showed a total decline in primary home sales, Vacation homes and Investment home markets but the primary home sales declined 10% (from 4.82 million in 2006 to 4.34 million in 2007) where vacation home sales dropped just 2% and investment home sales dropped just 1% over the same year.&amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Vacation home sales declined to 740,000, a 30.6% drop, but that was down from the 2006 record-setting year where 1.65 million&amp;nbsp;sales occurred. &amp;nbsp;Vacation homes made up 14% of the total market of homes purchased&amp;nbsp;in 2006 and 12% in 2007.&amp;nbsp; The typical vacation home buyer was 46 years old and had a median household income of $99,100.&amp;nbsp; They purchased property that was a median of 287 miles from their primary residence. 65% of vacation home buyers bought existing homes while the remaining 35% bought new homes. Tight supplies led to a pent-up demand from buyers&amp;nbsp;which made 2006 a record year.&lt;/p&gt;&lt;p&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Investment properties declined at the smaller rate of 18.1%; there were 1.65 million transactions on 2006 and 1.35 million in 2007.&amp;nbsp; That dropped from the total market transactions in this category from 22% in 2006 to 21% in 2007.&amp;nbsp; The typical investment home buyer was 42 and earned $92,900 in household income.&amp;nbsp; They typically bought homes at a median of 27 miles from their primary residences.&amp;nbsp; 71% of investment home buyers bought existing homes and the remaining 29% bought new homes.&amp;nbsp; &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;p&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; Lawrence Yun, NAR's cheif economist, said that the overall sales decline in 2007 was a combination of factors.&amp;nbsp; During periods of uncertainty, times of tightening credit and mortgage industry disruption,&amp;nbsp;there is a natural pull back on big-ticket items.&amp;nbsp; He also said that strong demographics and lifestyle choices remain positive for the vacation home market as a peak of population is moving through the prime years for buying recreational property.&amp;nbsp; &lt;/p&gt;</Description>
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    </MySmartChannels>
