Another hotel and condo complex is in foreclosure. The Ritz-Carlton hotel in Denver, Colorado is in foreclosure and condo units will be liquidated in a trustee sale next month according to Globe St. Goldman Sachs was the lender on the project which had sold only one of the 25 residential units.

The project's 25 residential condominiums and two ground-floor commercial condominiums will be sold as one property in a sealed-bid auction next month. The hotel and the condominium are located in what was once an Embassy Suites hotel. The condominium units are on floors 15-19 of the 38-story building with apartments above. The condos share a private owners' lobby with direct elevators, an owners' lounge and board room, and a dedicated concierge. The Globe St. article says that the location across from the Greyhound Bus station and the lack of balconies made the units a hard sell. They were once priced at as much as $800,000 to $4 million but more recently were priced from $500,000 to $3 million.

The Denver Business Journal reports that Chicago lender Transwestern Mezzanine Realty Partners III's lawsuit against individual owners of downtown Denver's Ritz-Carlton Hotel will go to trial next July. Transwestern is suing Ritz owners Steve Roitman and Jim Cobb of Denver-based energy and real estate company BWAB Inc. and hotel developer Charlie Biederman for $9 million in defaulted debt on the hotel. According to the article The Ritz's Forza athletic club building and condominium component have been in foreclosure since June for nonpayment of the $28.8 million balance due on a $95 million mortgage loan.

Today's home is another reader submission, a beautiful vacation retreat in Vail, Colorado. The home was completed in 2007 and is located within a short distance of the ski lifts of Vail Village. It also offers immediate access to the Town of Vail's extensive hiking trail system. The home itself is a five-bedroom house that was constructed using state-of-the-art mechanics including radiant heat and a second humidified forced air heating system and air conditioning.

This home features custom rockwork inside and out, granite counter tops throughout the home, stainless appliances and more. A rec room has a full wet bar and a water feature. A heated drive, entry and rear deck area keeps you safe from icy walkways. The home also has an elevator, climate-controlled wine room, media room and a private patio with a hot tub, gas log fire pit and an outside shower. The home is offered fully furnished and the asking price is $5.995 million.

School fundraising hits a new luxurious level at The Vail Academy, a private school located between Vail and Beaver Creek, Colorado. The school has launched the 2009 Vail Home Raffle to raise money and the grand prize is a $1.3 million ski home plus $450,000 cash to pay the IRS. The home is located less than one mile from Vail Village and was renovated from top to bottom in 2008. It is a four-bedroom duplex that includes a great room, dining room, separate family room, laundry room and a sundeck overlooking the backyard.

The raffle tickets are $100 each and the grand prize drawing will occur on December 31, 2009. Early-bird cash drawings are an incentive to enter early and $70,000 has already been awarded to participants. The next drawing is December 4th. The raffle website also includes a way to refer a friend. Whoever refers the grand prize winner also picks up $25,000.

If you were freaked out by the October 28th episode of "Ghost Hunters" we have some good news for you. You can experience the chills live and eat dinner in the Briarhurst Manor, the Manitou, Colorado home featured in the show. Briarhurst Manor, which was built by Dr. William Bell and family back in 1874, is also a full service restaurant. The first home burned down in 1886. Dr. Bell had the second home built out of stone in 1888. The ghostly visitations reported on the property include visitations, shadows, sounds, and objects moving across the room. Sometimes ghostly children are heard playing.

Those who wish to add a bit of the spooky for their nuptials can also rent the home out for weddings. The menus includes domestic and game meats, seafood, pastas and specialty salads. Entrees start at $13.

If you'd like to make a more permanent commitment Briarhurst Manor is also for sale. It appears to have been listed for sale at $7 million last year but is now listed at $3.9 million. Even ghosts can't catch a break in this tough real estate market.

We didn't believe it until we verified it with our own eyes – and amazingly it's true: Colorado is offering a $42,083 rebate on the 2009 Tesla Roadster until December 31st. Carry the one, move the decimal point... yep, that's a 38-percent discount on what must be the most desirable electric car currently for sale in the United States.

So, exactly how did this come about? Is the thin air up there distorting people's better judgment? Not exactly. The incentive actually applies to a slew of qualifying hybrid and electric vehicles and will be paid in the form of an income tax credit that's calculated by determining the difference in price of the alt-fuel car or truck as compared to a competitive gas-powered model. In the case of the Tesla Roadster, Colorado figures the EV costs a whopping $50K more than its competitive set... which we imagine might be the Lotus Elise.

Want to take advantage of the rebate but not interested in a fully-electric sportscar? Buyers can also get a $20K rebate on the 2009 Lexus LS 600h L or about three grand on either the new Honda Insight or Toyota Prius. See the complete list in PDF form here.



[Source: Green Car Reports]

Today's house is a lavish spreadin the Cherry Hills Village area near Denver, Colorado. The home was owned by ex-Denver Broncos head coach Mike Shanahan. Shanahan, who was the coach of the football team for 14 seasons, sold the house in January 2007 for $16 million but reportedly lived there until late last year. The home was built for him in 2000. He may be on his way to Washington D.C. to coach for the Redskins but is said to be building an even larger home in Cherry Hills Village.

The six-bedroom home is on nearly 2.5 acres of land. The home has just about every amenity in over 20,000 square feet of space. There is a large indoor Jacuzzi, a steam room, gym, wine cellar, sunroom, indoor golf area and a gourmet kitchen with a big 'S' over the range. This home is listed at $17 million.

[Thanks, Anthony]

Golfer Greg Norman hasn't sold off the real estate from his last marriage (his Tranquility estate is still for sale for $60 million) but he seems to already be facing divorce and some more real estate transitions. Norman and tennis champion Chris Evert were married less than two years ago but now they have split up. Both Norman and Evert left long term marriages in order to be together.

According to People.com the pair never created a home together and kept their own residences. Still some real estate transition seems to be in order for Norman. His Seven Lakes Ranch in Colorado is up for sale for a cool $55 million. Norman assembled the ranch from a variety of properties and it now extends over 11,600 acres in Meeker, Colorado. Norman picked up the Seven Lakes Lodge and an adjacent 3,000-acre ranch from Wall Street financier Henry Kravis in 2004. The 8-bedroom lodge on 300 acres, was listed, along with the neighboring Pollard Ranch for $18.5 million but Norman paid around $16 million. The Pollard Ranch is adjacent to the 8,200-acre ranch that Norman had already owned for seven years. Norman was particularly fond of the outdoor opportunities on his ranch. On the Shark website he said that he enjoyed fishing, hunting, riding, mountain bike riding and more on the property. The property includes the nearly 14,000 square foot lodge, staff quarters, staff and guest cabins, a fitness center, equestrian facilities and a clays course. It is being sold furnished.

[Thanks, Kevin]

It's not even Halloween yet but one hotel is hoping that you are already casting your eye toward New Year's Eve. The Curtis Hotel in Denver, Colorado has set up a special website, Won Night Only, to tempt bidders to take part in an eBay auction for take over the 330-room hotel for New Year's Eve 2010. The winning bidder gets food and drinks for everyone (up to 600 guests) including a cocktail reception, dinner, open bar, a late night munchie bar and a champagne brunch. A photographer will be available to document the event and the evening will include live music and a DJ. The hotel's design team will decorate the hotel for the event. Bidding on eBay is over $50,000 so far and the auction ends on Sunday.

[via The Globe and Mail]

I'm sorry to hear this news, the Wall Street Journal is reporting that another grand resort has hit hard times. Aspen's historic Hotel Jerome, has been scheduled for an auction. The hotel, which opened way back in 1889, was purchased in 2007 by a pair of investors, Elysian Worldwide LLC and Lodging Capital Partners LLC. The deal was financed with a $48 million mortgage provided by Morgan Stanley Mortgage Capital Inc. Now an entity identified as Jerome Property LLC has said that the owners failed to pay the mortgage's $36.3 million balance. The foreclosure filing was recorded on September 24 and the foreclosure auction will be held in January unless something changes.

Meanwhile, the hotel, which is managed by Rock Resorts, remains open and is preparing for the busy ski season with a bunch of special offers and packages. The hotel is one of Aspen's most beloved landmarks and the J-Bar is a popular destination famous for the Aspen Crud, a milkshake and bourbon concoction that is a bit like a Mudslide that punches you in the gut.

Backed by mountains and sprawling over approximately 265 acres near La Veta, Colorado, the North Star Ranch is the ideal property for the horse lover. It includes a 10-stall horse barn, indoor riding arena, caretaker home and guest cabin. The property is on around 1.5 miles of the Cuchara River meandering through the picturesque property. The 4,000 square-foot Mediterranean style home has high-beamed ceilings, large windows, small cozy fireplaces and beautiful inlaid wood details. This home is listed at $6.25 million.

Today's home is an incredible new luxury compound is Aspen, Colorado that includes two large residences on two contiguous lots located on over two acres on the Ridge of Red Mountain. The compound offers direct views of Aspen Mountain, Independence Pass, and the entire valley. The main home is a contemporary estate that is 11,300 square feet with five bedrooms, a gourmet kitchen, theater, wine room, gym huge recreation room and resistance pool. The home is rendered in stone and dark wood with curved roofs and glass windows facing the mountains. The second home is a 4,178 square foot guest home with five bedrooms and a two car garage. This estate is listed at $35 million which makes it one of the more expensive listings in the area but still millions below some of the properties in the area.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

We keep hearing about how bad the real estate market is and chronicling the many price drops but recently a home sold for $43 million and it wasn't even on the market. The ten-bedroom mansion in Aspen, Colorado is on 4.5 acres at the base of Red Mountain and sold through Joshua &Co. The 21,400-square-foot home has become what brokers say is the most expensive home that has sold in the U.S. so far this year.

The Wall Street Journal shows the home which was designed by Charles Cunniffe Architects. There are a host of pictures of the home on the Cunniffe website (the kitchen is particularly worthy of note). The wood, glass and stone home on 4.5 acres was built in 2006. It has an outdoor pool, guest house and a four-car garage. Inside the home, windows frame mountain views from the living areas and private spaces. It has an elevator, wine cellar, home theater and 10 bedrooms.

Newton Bartley, a real estate agent with Joshua & Co. referred to the sale as a "straight, cash deal." The Aspen Times says that the buyer, who has not been named, became interested in the home at the end of the last ski season. Several Aspen homes on the market are priced higher than this one including Elk Song Ranch which is listed at $58 million and is shown below.

An article on the Ski Channel recently pointed out that Neverland Ranch wasn't the only ranch in Michael Jackson's life. He also once vacationed at this home in Snowmass, Colorado with his children. Meanwhile Ranch is a 12,000 square foot luxury log estate. The ranch is on 56 acres which also includes an older four-bedroom guest house, caretaker apartments, an 1866 settler's cabin, barn, and a 1,500-square-foot workshop–auto showroom.


Jackson caused a stir when he showed up in Old Snowmass in 2004. He walked into the local Wal-Mart in his ski mask and employees, who did not recognize him, were afraid they were being robbed. An article from the time reports that the home was on the market for $16.5 million. It is now listed for $27.5 million.

[Thanks, Brandon]

Today's estate in Larkspur, Colorado offers something most estates don't, your own private 5000-foot runway and a heated aircraft hanger. This home is on 196 acres and includes both a main house and a carriage house. The main home is approximately 10,000 square feet with five bedrooms. The two-story entrance features stacked stone columns and the home has its own elevator and an indoor lap pool. This home is listed at $15 million (plane not included).

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.