What it actually is
Fraser is an incorporated town in Grand County at roughly 8,550 feet, strung along the Fraser River just north (down-valley) of Winter Park along US-40. It has marketed itself for years as the "Icebox of the Nation" — a nod to genuinely cold, snowy winters — and it carries a more rustic, working-town feel than the resort village up the road. Historically a railroad and timber town, today it's a mix of full-time locals, Front Range weekend owners, and a range of housing from older homes to newer townhome and subdivision development.
The draw for buyers is usually relative value and access. Fraser tends to be the more attainable base within the same valley as Winter Park Resort (an Ikon Pass mountain), just a short drive up US-40. Access is the headline: Berthoud Pass on US-40 is the fast route to Denver — roughly 90 minutes in good conditions — and in winter the Amtrak Winter Park Express stops right in Fraser at the Fraser-Winter Park station on ski-season weekends. Summers are a real second season here, with the Fraser River, mountain biking, and trail access. Just remember that "more attainable" is relative to an expensive valley, not a promise of cheap — verify current figures for the exact property before drawing conclusions.