1992-04-06_GENERAL DOCUMENTS - C1981017

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Mid - Continent Resources May 19, 1988 Page - 5 - The data indicate that reliance on County wide statistics can be misleading. In summary, the Rifle, or central area, was severely affected by the oil shale boom /bust cycle as would be expected. The data offer a strong suggestion that the Roaring Fork Valley area of Garfield County was only minimally affected by the oil shale boom /bust cycle but did suffer from regional and national economic hard times. Further, single family residential marketplace observations during 1987 pointed to a stable marketplace with hints of an emerging stronger demand. 1988 observations indicate increasing residential rents, declining residential vacancy, stronger residential market demand and a generally healthier residential real estate market place. It has been the writer's observation over the last twenty years that in this locale, the fortunes of commercial and industrial properties tend to follow behind the residential properties in cyclical market trends. During the 1980's time period described in the previous discussion, the Snowmass Coal Company evolved through a boom /bust cycle in the Carbondale area. The Mid - Continent Coal operations also suffered from negative economic influences. The Roaring Fork Valley is primarily a tourist oriented economy with the major and heaviest industrial development and employment centering around Applegate & Co. Real EstateAppraiserg Area Prop. Type • X of Foreclosures R of Ares R of Area Freq Prop County 1986 R of Tot Foreclose • Prop 1 in County Totals Ras 6437 79.85X R. Condo 776 9.63% Total Res 7213 89.48X Comm & Ind 848 10.52X Total 8061 100.008 194 100.0O% 42 Area Three - Roaring Fork Res 3319 41.174 74.643 R. Condo • 607 7.538 13 6.70% 20.31% 13.644 47 Total Res 3926 48.70X . ,- 68.24X Comm & Ind 523 6.49% 11.76% Total 4449 64 32.99% _100.00X 100.00% 70 i 75 Less Condos 3842 _ 55.19X _ 51 26.29X 79.69X 86.368 Area One & Two - Rifle & West Res 3118 38.688 86.328 R. Condo 169 2.10X 4.688 Total Res 3287 40.78X 91.00X Comm & Ind 325 4.03X 9 .O 0 Total 3612 44.81X 130 67.01X 100.00X 28 Mid - Continent Resources May 19, 1988 Page - 5 - The data indicate that reliance on County wide statistics can be misleading. In summary, the Rifle, or central area, was severely affected by the oil shale boom /bust cycle as would be expected. The data offer a strong suggestion that the Roaring Fork Valley area of Garfield County was only minimally affected by the oil shale boom /bust cycle but did suffer from regional and national economic hard times. Further, single family residential marketplace observations during 1987 pointed to a stable marketplace with hints of an emerging stronger demand. 1988 observations indicate increasing residential rents, declining residential vacancy, stronger residential market demand and a generally healthier residential real estate market place. It has been the writer's observation over the last twenty years that in this locale, the fortunes of commercial and industrial properties tend to follow behind the residential properties in cyclical market trends. During the 1980's time period described in the previous discussion, the Snowmass Coal Company evolved through a boom /bust cycle in the Carbondale area. The Mid - Continent Coal operations also suffered from negative economic influences. The Roaring Fork Valley is primarily a tourist oriented economy with the major and heaviest industrial development and employment centering around Applegate & Co. Real EstateAppraiserg