| Once the brief home of such
diverse characters as President Teddy Roosevelt
and dentist/gunfighter Doc Holiday (who is
buried in the town's cemetery), Glenwood Springs
(population 8,500) is a pretty mountain town set
amid spectacular, rugged scenery in western
Colorado. Outdoor recreation is the
hallmark of this area, attracting active
retirees who want to spend their days skiing,
bicycling, trout fishing, rafting, hiking, golfing,
camping or just soaking in the healing waters of
the town's famous mineral hot springs. Of
the town's population, 25% is age 45 to 64, and
9% is age 65 or better. |
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Glenwood Springs
is
an authentic western town with an atmosphere that is part
touristy, part collegiate (Colorado Mountain College
is located here), part Old West, part family-oriented and part
laid-back mountain funkiness. In other words, Glenwood
is welcoming, without the clubbiness found in
some other resort destinations. Local kayakers,
college students and older residents mingle with
families on vacation, skiers and the occasional
cowboy, and everyone seems to enjoy
the relaxed town ambiance, beautiful scenery and
strong community spirit. Of course, all
of this good living comes at a price.
Glenwood's cost-of-living is roughly 25% above the
national average, and partly because of its
proximity to Aspen (35 miles), real estate is
expensive, and prices are not tapering
off.
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Glenwood has its share of million dollar mountain homes, but
the median single family home price
is $480,000 (compared to $4.1 million in Aspen), and
the median condo price is $265,000 (compared to $1.3
million in Aspen). This median home price of $480,000 will not buy anything
spectacular, but it will purchase a modest two to four
bedroom residence in town with anywhere from 1,200 sq. ft. to
1,800 sq. ft. Inventory opens up in the $500,000s and
$600,000s; homes in this price range are larger, often newer and
generally located on the southern edge of town (on the way to
Aspen). Many dwellings in this price bracket and higher have
chalet-style architecture or are designed to blend in with the
mountain surroundings. Some of these homes have acreage but
many are on average sized lots in subdivisions.
Buyers will find that Glenwood has a good selection of
condominiums and town homes; these are more affordable and provide
an easier way to get a foothold in the real estate market
here. It is possible to find some nice, small condos (two
bedrooms, one bath, 700 sq. ft.) under $200,000 to the west of
town, but inventory really opens up in the mid- to
high-$200,000s range. Many units, though, can cost as much
as a single-family home.
This is an
interactive map. Click on the arrows in the upper left hand
corner to move the map to the East, West, North or South, and click on the +/- signs to zoom in
and out.
Glenwood does not have a good selection of apartments for
lease, and it does not have an active adult (55+) community; it
does have, however, assisted living and nursing home facilities.
Residential real estate is assessed at 7.96% of a property's
fair market value, as determined by the assessor's office, and the
mill levy rate is 60 per $1,000 in value. The annual taxes
on a $500,000 home would be roughly $2,385. A homestead exemption for qualifying
seniors 65 and above is available. It allows 50% (up
to a maximum reduction of $100,000) in actual value of a primary
residence to be exempt. The person must have owned and
lived in the home for at least 10 years. The
Glenwood sales tax rate is 8%. The personal income tax rate
is 4.6%, and taxpayers
55-64 years old can exclude a total of $20,000 for Social Security
and qualified retirement income. Those 65 and above can
exclude up to $24,000.
Glenwood
Springs, Colorado, Continued...
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