The beautiful alpine town of Telluride is situated in southwest Colorado's majestic San Juan Mountains. Telluride beckons visitors and residents alike with an unlikely combination of "wild West" small town charm and big city culture. From festival-filled summers to bitter winters made for skiing and hot cocoa, Telluride is the epitome of the perfect mountain getaway. Even A-list celebrities like Oprah and Jerry Seinfeld have had homes here. There's no denying that this little town has something special to offer anyone who doesn't mind trekking through the Rockies to get here.

If you're looking for Telluride real estate that's in town versus up in the mountains, downtown Telluride is filled with single-family homes (many of which are in restored historic Victorian buildings), condominiums, apartments, duplexes and townhomes. Beyond what the downtown area has to offer, the diverse array of available Telluride property includes estate lots, trailside homes, mesa lots and other acreage. In other words, there are Telluride condos, homes, and homesites to meet virtually any mountain lifestyle.

An alternative to buying property in Telluride proper would be to make your investment in neighboring Mountain Village. A tiny municipality (population 978 at the 2000 Census) perched atop a sunny mesa, Mountain Village offers options including upscale ski-in/ski-out single-family homes, mountain-view homesites, condos and golf course homes. Mountain Village rises just above the town of Telluride in terms of elevation and is connected to its neighbor by a short, environmentally friendly gondola ride. Mountain Village is known for its peaceful nature, excellent skiing, and affluent populace. Neighboring Telluride and the surrounding ski resorts are largely responsible for Mountain Village's rapid expansion.

But back to Telluride. Whether you're looking for a practical piece of Telluride land or you simply won't settle until you're basking in the lap of luxury, there is property available at both ends of the spectrum. The beauty of wearing a buyer's shoes in a buyer's market means that you get to make an investment in premium property that will put you ahead of the game once the economy picks up steam again. What's more, you get your pick of the inventory AND you get to call the shots in terms of price. Anxious sellers are conceding to rather modest asking prices for luxurious Telluride condos and homes. As this little piece of Colorado heaven grows in popularity, as it surely will continue to do in the coming years, you will only profit in the future from the deals you take advantage of now.

Maybe your pocketbook isn't quite big enough to afford you the keys to Jerry Seinfeld's 19 million dollar mansion, but there are plenty of Telluride homes that echo that level of luxury for much more reasonable prices. Just put a list together of the criteria you have in mind for the Telluride land or property you're looking for, and then put your local agent to work in finding the mountain escape you're been dreaming of. Telluride real estate has never been more affordable. Investors who may not have been able to afford luxury when it was a seller's market now have their chance to taste the good life. But remember, it won't last forever.