Mind the (Windy) Gap | SkyHiDailyNews.com

Mind the (Windy) Gap

US Senator for the State of Colorado Michael Bennet toured portions of Grand County on Wednesday August 24 with local officials, landowners and water diverters from the Front Range. The tour focused on the Windy Gap and the proposed Windy Gap Bypass and Windy Gap Firming Projects.

“The Windy Gap Project is a great example of a common-sense collaboration that helps meet our water needs while also protecting wildlife and the environment,” state Colorado U.S. Senator Michael Bennet. “We have been working with the community on this for years, and it was exciting to see the site first-hand with such a diverse group of partners. This is another great example of the kind of effort we envisioned when we created the Regional Conservation Partnership Program, and we will continue working to support and fund the project.”

Bennet and his staff are currently campaigning for Bennet’s reelection to the U.S. Senate. This November Bennet faces Republican challenger Darryl Glenn, currently serving as a County Commissioner in El Paso County.

Grand County Real Estate Transactions, August 14 to 20

Hillside Townhomes Unit 2 – Michael and K Isabel Conger to Paul Smith and Julie Stephens, $247,480

Hillside Townhomes Unit 1 – Michael and K Isabel Conger to Paul Smith and Julie Stephens, $210,680

Iron Horse Building D, Condo Unit 4044 – Forest Fischer and Deborah Page to Leslie Demiranda and Jeffrey Preston, $140,000

Old Park Filing #5, Lot 10, Block A – Susan and Robert Sterkel, Thomas and Janine Erickson, Sallie T Dembeck Trust, Dembeck Family Trust to Robert and Susan Sterkel, Dembeck Family, Trust, $55,000

Shadow Mountain Yacht Club Unit 4, Bldg Wescott; Shadow Mountain Yacht Club Garage No 5 – Brian and Jean Liekhus to Joseph and Paula Greer, $365,000

Old Park Filing #2, Lot 2, Block F – Brian Driscoll to Yee Leng Xiong, Kham Pheu Xiong, Kham Zoota Xiong and Seng Zeng Xiong, $68,000

East Mountain Filing 4, Lot 15 – Mary and Kenneth Hamon II to William and Syndy Lee, Guo Ping Li, Shu-Yi Wang, $675,000

Lakeview Waterside West Condos As Built Unit 304, Bldg A, Garage Unit 1 – Patricia McGinity to Nicholas Reiland and Kellie Slater, $349,900

Granby Ranch Filing 1B, Lot 33 – Michael S Humphrey Revocable Trust and Rebecca C Humphrey Revocable Trust to Clint and Chrystina Tasset, $820,000

Grand Lake Estates 1st Filing Lot 1, Block 7 – Dona Kneifl to John and Sara Roberts, $620,000

Grand Lake Estates 1st Filing Lot 19, Block 9 – Robert and Tammy Hawkins to Jon Hamilton and Christa Fruchtl, $272,500

Fraser Crossing-Founders Pointe Condominium Unit 4179 – Maryann Casey to Daniel Bartholomew, $219,000

Creekside at Winter Park Condo Unit 302 – Robert and Rebecca Barnes to Adam and Laura Heese, $272,900

Soda Springs Ranch Filing 2, Unit A3, TRT F – Michele Bean to Philip and Shelly Knight, $170,000

Crooked Creek Complex Unit R7- Harold and Kathleen Fobes to TJ Mountain Investors LLC, $120,000

Lennon Subdivision Exemption Lots 1,2,3,4; Lennon Subdivision Exemption Open Space; SEC 1 TWP 1S R 76W Partial Legal – See Document – Ronald Jones to Michael Repucci, $500

East Mountain Filing 4, Lot 4 – Larry E Fast Living Trust to Jeffery and Emily Poore, $737,200

Winter Park Ranch 3rd Filing, Lot 32, Block 1 – Adam and Veronica Gould to Rosemary Feldman, $497,500

Casa Grande Estates Lot 17 – David and Cynthia Boyes to Curtis Metcalf, $26,000

Zephyr Mountain Lodge Condo Bldg 1 & 2, Unit 2108 – Scott and Sherrie Houghton to Brian and Virginia Buege, $235,000

Lot 4 SEC 8 TWP 3N R 75W Partial Legal – See Document – E 2 Holding LLC to Robert Jackson Parfet Living Trust, $95,000

Mountainside at SilverCreek C U 100 Timeshare 100604 – Mountainside SilverCreek Timeshare Owners Association to Donald and Denise Nelson, $500

Hi Country Haus Bldg 24, Unit 1 – David Smith and Ronald Leff to Gavin and Jennifer Malcom, $155,000

NAPA Autoparts Administrative Replat TRTS A,B – TCR Property LLC to 240 West LLC, $423,750

Winter Park Lodge II Bldg F, Unit 301 – WP Lodge II F301 LLC to Scott and Rachel Graham, $159,900

Fairways at Pole Creek Unit 2 26 – Charles and Ann McConnell to Thomas and Sandra Henry, $173,000

Meadow Ridge Lodges Court 1, Unit 1 – Carl and Jennifer Outzen to Bradley Nace, $163,000

Winding River Villa Lot 14 – Elaine Gazdeck to Ashley Chase, Matthew Reed Tolonen, $75,000

Hot Sulphur Springs Lot 12, Block 21 – Kathy Burke to Karen Losli, $139,000

East Mountain Filing 1, Lot 77 – Michael Bauer to Mark and Michelle Zettle, $1,370,000

Shadow Lake Villas Subdivision Lot 8 – RME Holdings LLC to Jesse and Lindsey Siman, $1,100,000

Grand Country Estates 1st Addition Lot 87 – Susan McCallum to Matthew and Misti Heberling, $312,000

Open Mic

Every now and again Thursday’s Open Mic crowd at the Crooked Creek Saloon in Fraser is treated to a pop-in performance of Tara Hendricks and Mike Utley (one band name they were considering was “The Hay Bandits”).

Firewood permits on sale from USFS

Permits to cut firewood on the Arapaho National Forest’s Sulphur Ranger District are available fom the district office at 9 Ten Mile Drive in Granby. Permits are sold on a per cord basis and cost $12 per cord with a minimum first time purchase of two cords (a cord measures about four feet wide by four feet high by eight feet long; or two pickup loads full).

Permits are good for the calendar year (January – December) in which they are purchased.

Permits come with a map that shows areas open to firewood cutting on the district. Firewood cutting permit rules include no felling of standing trees, live or dead; keeping vehicles on Forest Service roads and not blocking traffic; and not damaging roads, trails, or other improvements on Forest Service land or adjacent private property. While out in the forest, be mindful of your surroundings and watch out for falling trees. For additional information contact the Sulphur Ranger District at 970-887-4100.

Dalrymple: Ask a Banker

I’ve often wondered: why are lenders so concerned about the borrower when they have a mortgage on the property, and , if the borrower doesn’t pay, can take the house and make a chunk of money when it’s sold?

This could be the oldest, and certainly the most erroneous, myth in lending and finance. Cheops probably needed some cash to conquer some neighbor, and pledged the pyramids to a money lender from Phoenicia. He conveniently forgot about the debt, and the poor lender was scratching his head, wondering who would ever want those piles of rock.

Back in the last century, Johnny Cash and Bob Dylan did a duet, with the refrain, “There ain’t no good chain gang”.

There ain’t no good foreclosure either, at least not from the standpoint of the lender. Not ever.

Seems kind of counter-intuitive, doesn’t it? Say that the property sells for $200,000, and the borrower puts thirty percent down to buy it. That’s a $60,000 cushion for the lender, right? So, the borrower defaults, and foreclosure starts. At that point, it’s very likely that the $200,000 house isn’t worth anywhere near that figure.

And, if it gets to the point where the lender is the successful bidder at the foreclosure sale, then it’s dead certain that there’s a loss on the loan, and probably a big one. It takes months for a foreclosure action to be completed. During that time, the borrower owns the property and can sell it to cover the debt and make a profit, if there’s one to be made. If no buyer has stepped up, that seventy percent loan to value ratio loan is above 100 percent LTV, and probably more.

By this time, that dream home has probably been trashed, so on top of attorney fees and other costs, the lender has to put even more money into the dead horse to bring it back to some semblance of life.

And then the real pain starts. I once worked for a very wise man who counseled me that, “The loss that you book on a foreclosed asset, between the loan amount, and what you actually sell it for, is just the tip of the iceberg. The major loss is in time and lost opportunity”. Meaning that every minute spent on managing a bad asset, a foreclosed home, is a minute that the lender can’t spend making money in its primary business line.

Lenders aren’t real estate investors or developers. Their business is lending and every dollar that’s tied up in foreclosed real estate is a dead dollar. The last thing that a lender wants is a borrower’s house.

This is just the business downside of defaulted loans. If your business happens to be a bank, with insured deposits, then you have the bank regulators piling on. If a bank is deemed to have an excess of REO (Real Estate Owned) then the regulators hit the bank with a plethora of penalties and restrictions which make it almost impossible to do business at much of a profit.

I’ve been in the real estate lending business for over half a century. I have yet to see a good foreclosure.

How do I know all this? I thought you’d never ask. I am a proud graduate of the best, but most expensive, college on the planet: the U of E; the University of Experience.

Pat Dalrymple is a former bank president who has been making mortgage loans in western Colorado since 1967. He’s currently an advisor to Grand Mountain Bank’s Mortgage Lending Outreach Initiative. He welcomes your questions on lending and banking, and can be reached at dalrymple@sopris.net.

Bella and the Sturgeon Moon

Reader submitted photo by Todd Keleske.

Granby Trails

Wildlife rescue

First Snow

Golf league update

The Pole Creek Ladies

The Pole Creek Ladies golf league had a large turnout and spectacular weather for their annual 2 day Club Championship tournament on August 17th and 18th. After play on Thursday, the Ladies went to a fabulous luncheon hosted by fellow team mates at Pat Wischmann’s house.The Club Championship results and end of the season prizes were awarded and the Ladies discussed league business. The Club Champion for the 3rd consecutive year is Susie Noel, Congratulations! The winners were: 1st Flight Low Gross: 2nd Place Deb Kohlwey, 3rd Place Michelle DeFrange. 1st Flight Low Net: 1st Place Helen Brown, 2nd Place Marie Johannes, 3rd Place Mary Byerrum. 2nd Flight Low Gross: 1st Place Beth Daniel, 2nd Place Cathy Malone, 3rd Place Kate Labelle. 2nd Flight Low Net: 1st Place Andrea Singleton, 2nd Place Darlene Klancke, 3rd Place Pat Venzke. Helen Brown and Mary Brooks were the seasons winners for Match Play, and Madelyne Stevens was the most improved golfer.

Grand Lake Women’s Golf Association

The Club Championship Tournament for the Lakers at the Grand Lake Golf Course took place over the past two weeks. The first round was Tuesday, August 9 and the second 18 hole round played on Tuesday, August 16. The 2016 Low Gross Club Champion is Laura Summers with a combined score of 192. Kathy Chandler took First Place Gross with a combined of 200 and Mary Ann Montgomery finished in Second Place Gross with a 201. The 2016 Low Net President’s Club winner is Jean Klanica with a combined net score of 139, First Place Net is Joan Ophaug with a 144 followed by Lee Rogers, Second Place Net with a 154. Two birdies were recorded over the past two weeks, Lee Rogers, hole #9 and Jane Demrow, hole #11.

Nifty Niners

Tuesday, September 16, was a different kind of golf day for the Niners at Grand Lake Golf Course. The game was called “Misfortune” and for once, certain mistakes had point values which were deducted from our total scores. It definitely made the morning interesting. The winners were Teresa Harder – 1st, Jacque Davis – 2nd, Lynn Turnquist -3rd, Stephanie Holt –4th and Sue Ronald – 5th. Gladys Howard and Nancy Smith each had 18 putts and split the Putt Pot. Jackie Davis and Lucette Kottcamp both made pars on hole 11 and Jacque Davis also had a par on 13.