Tourism in Estes Park (Holly, Ouray: real estate market, 2013, rentals)

[wsporter]

The last time I was in Estes Park was before the real estate market crashed (in the mid 2000's) and the economy took a nose dive. In my area, Los Angeles, bric-a-brac shops were closing everywhere at that time. People didn't have spare cash to spend on non essentials. I assume the same was happening in Estes Park. My question is, did these types of shops ever recover in Estes Park?

[StealthRabbit]

Your question is confusing: (3+ topics)
Title = Tourism (it is fine in Estes, and 'special events' (and elk in the street) still pull in enough visitors
Content = Real Estate commercial (shops?) Residential (living ?), Investment (residential vs business?)(it is fine / as usual in Estes. LOTS of money flowing in... ~ returns)
discussion = around Bric-a-brac shops (wide subject, tough to quantify, tho you could get a VERY exhaustive report on specific sectors in Estes Park from SBDC, San Antonio. (down to the DETAILS!!!, how many pair of underwear where bought in Estes Park by residents of XXXXX zip code)

Commercial RE in Estes Park is always a struggle (as are businesses due to very short seasonality) Very crowded for a few months, yet shop owners need to survive (pay lease) for a yr...

Residential RE is nearly ALWAYS over priced in tourist / popular destinations, as people THINK they want to own / return / rent for income... and keep RE prices high, but 'turn time' LONG... The real (RE) money in a tourist destination is Property Management getting fees of 25 - 50% for seasonal / ST rentals + Maint. Typically it is a WASH financially for landlord to rent year round to a single tenant (at a reduced rate) or engage a PM to keep the place rented seasonally.

1) If you are looking for commercial RE, there is usuall plenty
2) If you are looking for opening a 'bric-a-brac' shop, there is high turnover / assumed leases available
3) If you want residential RE, you will have to PAY (higher than rental return will support)

BTW: your visit was nearly 20 yrs (1-3) financial crisis, and (2) significant floods ago. Downtown Estes has survived MANY such events and is going strong (with a lot of previous shop owners licking their wounds and recovering (continually)) . Re-opening US 34 is always a BIG Plus for Estes Park, been 2 very lean yrs... with only highways 36 and 7

Personally... I am skeptical of 'bric-a-brac' shop survival into the new consumer generation...
1) They are not BUYERS / collectors of 'stuff'.
2) They prefer spending their money near term on THEMselves and their pets (food / wine / coffee / beer / grooming), not gifts for the kids (or grandparents) they do not have .
3) Internet commerce has been hxll on commercial RE.
4) Times are changing FAST
5) At some point there will be a CRASH (a REAL crash)
6) Estes will survive (much due to people able to work from home!) that has REALLY changed RE markets in desirable places (with internet)

Narrow down your question and we can give you better info.

[jim9251]

I have a friend who lives in Estes Park, tells me it's packed with tourists all summer long and all the small shops are doing very well. I've never been there but I can speak of the tourists in Ouray who spend millions in the small shops in town. Traffic on weekends and holidays is literally bumper to bumper and campground reservations need to be made months in advance.

[Neditate]

Estes Park has recovered beautifully after the flood of 2013. Even with their brand new parking garage it can be difficult to find a parking spot.

[Thoreau424]

Last time I was there - last year - is was bustling and busy; even overly crowded. I don't think it was a special weekend either. It's often hard for us locals to park.

[COcheesehead]

I understood your question. Yes, very busy, like most of Colorado.

[EastwardBound]

Originally Posted by wsporter

The last time I was in Estes Park was before the real estate market crashed (in the mid 2000's) and the economy took a nose dive. In my area, Los Angeles, bric-a-brac shops were closing everywhere at that time. People didn't have spare cash to spend on non essentials. I assume the same was happening in Estes Park. My question is, did these types of shops ever recover in Estes Park?

Also not sure what you're saying, asking? But the main drag in Estes reminds me of Hollywood Boulevard, minus the hookers, with cheap t-shirt shops and the like.

[wsporter]

Thanks everyone for the replies. Sorry if my post was confusing. I like to go shopping for bric-a-brac when I'm on vacation. I wanted to know if there are such shops in the downtown area of Estes Park, that would make a return trip worthwhile. I got my answer from some of your replies. Thanks, again !

[Neditate]

It's worth your time https://www.visitestespark.com/things-to-do/downtown/
(LOL at post #7 wtf?)

[emm74]

I'm not clear exactly what "bric-a-brac" means to you. If you mean souvenirs and trinkets, then you can get your fill and then some in Estes Park. We just got back from a few days there and I don't think I saw a single empty store front anywhere, with a wide range of merchandise. Everyone walking up and down Elkhorn Avenue seemed to be carrying shopping bags, so it looks like plenty of money was being spent. And every tourist attraction has its own souvenir shop as well.

We went during the week rather than on the weekend so things were busy enough to be fun but not so crowded as to be overwhelming.