Winter’s a Great Time to Buy a Second Home

December 23rd, 2014

Traditionally, most sellers think about listing in the Spring to capture the buyers who surface after staying close to home in blustery weather. In studying our market statistics here in Summit County Colorado, a hot bed of second home and investment activity, however, there are actually pockets of the market, such as Keystone, where there are more sales in the winter.

In Breckenridge, where short term rentals are often more robust, it’s true that it can be challenging to get in and see condos and second homes because they tend to be rented during the same busy periods that buyers are in town. However, if you’re considering keeping some of that investment income, you can purchase with rentals in place, and enjoy the income stream, as well as the usage during ski season.

Right now, there are a few highlights to look at in the marketplace… a ground floor 3 bedroom, 3 bath condo in Keystone, right at the Mountain House base area, for example. http://www.keystoneluxuryrealestate.com/

Don’t dismiss the idea of looking at land, either. A few REALTORS, myself included, will break out the snowshoes and you’ll get a great idea of what the property looks like in the winter.

In any event, the only “right” time to buy is now, so give us a call, or drop us an email and we will get started right away to find that dream property for you!

Keystone Offers Real Value Opportunity

May 10th, 2014

With prices around Colorado ski communities definitely on the rise, the Keystone area really offers a great chance to realize a value investment. The amenities of this lovely four season community, nestled at the base of a fun mountain, are plentiful.

Keystone has three separate base areas, two of which have a multitude of dining and shopping options. Keystone Ski Resort is operated in conjunction with Vail Resorts and season or multi-day passes allow you the freedom to ski, here, or combined with two, four, or twenty six other partner resorts around the globe! Additionally, a free bus brings you all over the resort, to several World class dining establishments, and to a pair of wonderful golf courses. Nearby Lake Dillon also offers a myriad of additional recreation.

Summer Patio

Summer Patio

One terrific condominium, at Chateau D’Mont, is situated at the Mountain House base area, right in the very center of the mountain, but in a quiet neighborhood. A river runs by the property, offering a place for an early morning stroll. The home itself features a ground floor site on a corner with a walk out patio. There are three bedrooms, three baths, and an open floor plan, centered by a fireplace. There is gated access to a parking lot right outside the home. From there, you can walk directly through the small set of buildings to the lift right over a walking bridge. At the end of the day, you can ski down directly to see local musicians, The Swing Crew, entertain in the small lodge next to the lift. This property is offered at $499,000. More information, as well as a video, can be found at KeystoneLuxuryRealEstate.com

Park County Colorado Offers Great Value

September 17th, 2013

In the market for a single family home for a getaway or for your primary residence in Colorado’s High Country?? Consider Park County, Colorado, just 30 minutes to the World Class Breckenridge Ski Resort! Prices there have adjusted in recent months, allowing some incredible values.
In Fairplay, for example, take a peek at this gorgeous little gem: http://www.FairplayRetreats.com
With three bedrooms, two baths, an oversized 2 car garage with workshop, and a gorgeous 2.5 acre wooded lot, this price is wonderful-just $319,000 to make it your own.
Another great value is a three bedroom, three bath home, with huge loft, also on a 2.5 acre sunny lot, backing to National Forest. This one is $499,900 and details can be found at: http:///www.ParkCountyRetreat.com
Picture, if you will, a snowy night with the wind outside, and you and family and friends gathered around a cozy fire after an epic powder day, or even snowshoeing on your own property! Two miles away, the town of Fairplay has a Recreation center including heated pool for residents, dining options, and a great sense of community. Four Mile Fishing Club is nearby, along with a myriad of outdoor activities on a year round basis.
Call me today and I’ll help you find your mountain retreat for all your adventures!

Housing News is Positive for Mountain Investment Real Estate

January 4th, 2013

Numbers are out for the first eleven months of 2012 and the news is great for sellers, REALTORS, and investors!

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November from a downwardly revised 4.76 million in October, and are 14.5 percent higher than the 4.40 million-unit pace in November 2011. Sales are at the highest level since November 2009 when the annual pace spiked at 5.44 million.

Lawrence Yun, Chief Economist for the National Association of REALTORS, said there is healthy market demand. “Momentum continues to build in the housing market from growing jobs and a bursting out of household formation,” he said. “With lower rental vacancy rates and rising rents, combined with still historically favorable affordability conditions, more people are buying homes. Areas impacted by Hurricane Sandy show storm-related disruptions but overall activity in the Northeast is up, offset by gains in unaffected areas.”

Now that the “Fiscal Cliff” issue has been narrowly averted, and the elections are behind us, High Country REALTORS are already seeing an increase in buyer activity. Showings are up and inventory is down. That means that “deals” are going fast, with buyers still looking to take advantage of historically low interest rates.

If a mountain dream home is part of your 2013 Resolution list, now’s the time to buy! Prices are already creeping up and history has shown that mountain real estate rebounds more quickly than a primary urban market. Call us and we’ll find the perfect spot to make mountain memories.

Summit County Colorado Real Estate on a Rising Trend!

December 6th, 2012

October was the most positive month that Summit County has seen in quite some time. There were 230 transactions with $104,706,100 gross volume. This is the best month with transaction numbers since April 2007 and a better gross volume since September 2008. October showed solid volume from mostly residential sales.

October 2012 Highlights:

Market Analysis by Area Year- to- Date (10 months): There have been 1,285 transactions, with $618,829,700 Gross Volume in the past 10 months. The Median Residential price dropped a few thousand at $408,000 and the Average PPSF remains at $285. The Upper Blue Valley Areas ( Breckenridge combined) make up 530 transactions with $294,555,900 of the gross volume. Frisco gained strength with numbers in October with Boulevard Bend closings. Keystone continues to stay busy with 170 transactions and $75,073,100 in gross volume.
Market Snapshot YTD: The Median Single Family YTD indicates a 6% increase ( $619,000 from $583,750 in 2011), The Median Price of Multi- Family YTD shows a 4% increase from 2011 ( $317,550 from $305,000 in 2011) and Median residential Vacant Land continues to increase with a 32% increase ($230,250 from $175,000 in 2011). The price of Breckenridge residential vacant land has really skyrocketed this year.
Market Analysis % Change showing years 2004-YTD 2012: October really kicked up the numbers for YTD 2012. YTD 2012, gross volume is now up 10% from YTD 2011. Gross monetary volume is up October 2012 by 54% from October 2011. Number of transactions YTD 2012 vs. YTD 2011 are up by 10%. The number of transactions in October 2012 are up 43% vs.October 2011.
Residential Market Sales by Price Point for October: Residential volume in October had 190 transactions with $93,170,500 gross volume (Please note that Deed Restricted Units are counted in the transaction numbers but not on the Residential Market Sales numbers- there were a higher number of Deed Restricted units recorded in October) There were 67 Single Family and 123 Multi-Family Residential properties sold in October, with the majority being in the price range of $200K to $300K. There were 14 properties that sold for $1M and above in October.
2012 Average Price History: The Single Family residential average price was $765,769, the Multi-Family residential average price was $352,392 and the Vacant Land residential average price up at $317,000.
Historical Cost Breakdown 2012: There were 1032 residential transactions YTD in 2012 and $536,460,200 gross volume and 89 properties over $1M. YTD 2011, there were 947 transactions and $490,768,400 gross volume, 82 properties at $1M and over and YTD 2010, there were 858 transactions with $494,759,400 gross volume, 103 properties at $1M and over.
Top Lender Graph:- Cash sales went down to 35% from 44% in October for all Real Estate Closings. There were 732 Mortgage Deed recordings in October. It was a VERY active month. 150 loans were related to sales (65%), there were 284 REFI’s and 298 Timeshare loans.
Bank Sales and Foreclosures: Foreclosure actions are still dropping with only 26 actions filed in October, compared to 46 last October, a decrease of 43.47%. Public Trustees deeds are being issued on about 41% of the NED filings on the year to date. There have been 151 Public Trustees Deeds issued so far in 2012. Of these, only 62 were for real property, the remaining 89 were for Timeshare units.
Highest Priced Sale & Highest PPSF for October 2012:
10/19/2012 $3,100,000 Gold Flake Subd #3A Lot 3 aka 115 Stillson Placer Terrace – 5 Brm 6 Bath YOC 2007 with 5,464 SF Living Area on .75 AC Land. PPSF is $567.35.
-information courtesy of Land Title, Breckenridge

Concerned about the 3.8% Tax? Here’s the 411

October 22nd, 2012

Many people have just found out about the 3.8% “add-on” tax to help fund Medicare. It was added at the 11th hour and comes up periodically in the debates and in the Press. There is a lot of misconceptions about whether this is a transfer tax, whether it hits all segments of the market equally, and how it all plays out.

Here’s how the tax works. For individuals earning $200,000 a year or more and married couples earning $250,000 a year or more, certain investment income above these income levels might be subject to the 3.8 percent tax on a portion of that income. I say “might” because whether the tax applies or not depends on many factors having to do with the kind and amount of the investment income the household receives.

Investment income includes capital gains, dividends, interest payments, and, for those who own rental property, net rental income.

Importantly, the $250,000 (for individuals) and $500,000 (for married couples) capital gain exclusion on the sale of a principal residence remains in place. So, if you’re a married household that sold a house for a $500,000 gain (that’s gain, not sale proceeds), that amount remains excluded from your income calculation.

If you’d like to learn more, the National Association of REALTORS’ tax Guru, Linda Gould, explains in detail, and there is a free publication you can request from NAR at the following location: http://tinyurl.com/NAR3-8tax

Four Bedroom Townhome a Lifestyle Choice!

February 10th, 2011

Four Bedroom Townhome a Lifestyle Choice!

With plenty of snow on the ground and in the forecast, it’s time to consider a gathering place for family and friends. 82 Oak Street is a comfortable four bedroom, three bath townhome in Breckenridge. Just north of town in the Highlands Greens neighborhood, this lovely home lies outside the bustle of Main Street yet close to the skiing, dining, and shopping options of the downtown core. The home “lives large,” and includes a perfect site with mountain views. It is furnished and ready to enjoy for recreation or investment.

The path leads up to a covered front entrance which opens into a small slated mud area with a nearby coat closet. Directly ahead is the main living space, centered by a fireplace with slate fascia and raised hearth. One wall is all glass, looking at the mountains behind the property. Doors open onto a deck and nearby private hot tub which soak up the view. Wood floors add a mountain touch. Adjoining the space, the open dining room holds a large table for sharing a meal or after dinner game.

The adjoining kitchen has beautiful cabinetry in a warm natural shade, and granite countertops in green and charcoal. Two tiered counters allow space for gathering. Appliances are GE and include a dishwasher, refrigerator, range, and microwave. The kitchen has nice detail including a pantry cabinet with pull out storage.

Nearby, the mud area has access to the two car garage and the laundry. To the other side of the living area is the first of four bedrooms. This one is spacious enough for two beds and shares a tiled bath with the main level.

Carpeted stairs lead up to a loft area- the perfect spot for an office or a small library. As I watched the snow falling outside, I was picturing an overstuffed chair and a quiet book. The remaining three bedrooms are on this level. Two of them on one side of this level share a tiled bath.

The master suite lies to the other side of the stairs, giving good bedroom privacy. It is spacious, with double closets and lots of windows. The ensuite bath has a soaking tub, as well as double sinks and a separate shower. Tiled in warm neutrals, it is a backdrop for any décor.

This collection of townhomes and condominiums at Highlands Green lies directly across the street from the Jack Nicklaus designed 27 hole Breckenridge Golf Course. In winter, it houses the Gold Run Nordic Center and sleigh rides, adding a convenient amenity. There is a shuttle bus for the complex which can whisk you to the gondola or the Recreation center. Additionally, the home is centrally located, a plus for enjoying all that Summit County offers in every season.  Four panel doors, wood floors, lots of sleeping space, and a sunny view lot with a view of the rolling terrain behind, also contribute to make this the perfect retreat for all seasons.

Summit County Week in Review June 1, 2010

May 29th, 2010
Summit County Week in Review June 1, 2010        
         
Breckenridge This Week Last Week This Week Last Week This Week Last Week This Week Last Week  
  Single Family Single Family Condo Condo Townhouse Townhouse Land Land  
Active 311 217 376 356 56 56 264 256  
Pending 16 19 87 103 3 5 8 7  
Sold 3 4 20 4 3 0 1 1  
         
Frisco This Week Last Week This Week Last Week This Week Last Week This Week Last Week  
  Single Family Single Family Condo Condo Townhouse Townhouse Land Land  
Active 35 34 59 55 33 28 17 17  
Pending 2 0 7 10 4 4 0 0  
Sold 0 1 3 1 0 0 0 0  
         
Silverthorne This Week Last Week This Week Last Week This Week Last Week This Week Last Week  
  Single Family Single Family Condo Condo Townhouse Townhouse Land Land  
Active 100 92 81 73 72 65 78 73  
Pending 10 13 4 8 3 3 6 4  
Sold 5 0 3 1 1 0 0 0  
         
Dillon This Week Last Week This Week Last Week This Week Last Week This Week Last Week  
  Single Family Single Family Condo Condo Townhouse Townhouse Land Land  
Active 63 53 75 68 13 7 30 30  
Pending 6 5 9 13 0 0 1 0  
Sold 0 0 5 0 0 1 0 0  
         
Keystone This Week Last Week This Week Last Week This Week Last Week This Week Last Week  
  Single Family Single Family Condo Condo Townhouse Townhouse Land Land  
Active 43 39 184 167 24 23 28 27  
Pending 1 3 8 7 2 3 0 0  
Sold 2 0 3 2 0 0 0 0  
         
Copper Mtn This Week Last Week This Week Last Week This Week Last Week This Week Last Week  
  Single Family Single Family Condo Condo Townhouse Townhouse Land Land  
Active 6 7 107 99 8 8 5 5  
Pending 1 0 1 1 0 0 0 0  
Sold 0 0 0 0 0 0 0 0  
 

Mold-Don’t let it scare you, just deal with it!

May 25th, 2010

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

Summit County Weekly Real Estate Review May 17, 2010

May 17th, 2010

Activity this week for Summit County Colorado Real Estate is definitely trending upward. Here’s the latest numbers. Check back next week to see changes.

           
Breckenridge        
  Single Family Condominium Townhouse Land  
Active 217 356 56 256  
Pending 19 103 5 7  
Sold 4 4 0 1  
           
Frisco          
  Single Family Condominium Townhouse Land  
Active 34 55 28 17  
Pending 0 10 4 0  
Sold 1 1 0 0  
           
Silverthorne          
  Single Family Condominium Townhouse Land  
Active 92 73 65 73  
Pending 13 8 3 4  
Sold 0 1 0 0  
           
Dillon          
  Single Family Condominium Townhouse Land  
Active 53 68 7 30  
Pending 5 13 0 0  
Sold 0 0 1 0  
           
Keystone          
  Single Family Condominium Townhouse Land  
Active 39 167 23 27  
Pending 3 7 3 0  
Sold 0 2 0 0  
           
Copper Mtn          
  Single Family Condominium Townhouse Land  
Active 7 99 8 5  
Pending 0 1 0 0  
Sold 0 0 0 0