Summit Colorado Resort Blog

SUMMIT COUNTY - Top Vail executives will present their latest plans for Keystone at Wednesday's meeting of the Keystone Citizens League. The meeting is open to the public and will be an opportunity for residents of the area to learn about the redevelopment of the Mountain House base and the new gondola being built at River Run this summer. Full Story.

Breckenridge Real Estate

This is a topic that seems to be more frequently asked. Here in Summit County Colorado we have been mostly insulate to the problems sellers are facing in some parts of the country. However we do have neighboring areas like Park County seeing challenges. Many Summit County home owners primary residences are in Metro markets such as Denver and Colorado Springs. With nearly 65% of Summit County homes being a vacation or second home our owners have asked for help and incite in helping them with ideas for selling their primary residences.

First we need to take a realistic view of the market and pricing a home competitively are wise strategies these days. Keep in mind that buyers will typically wield the advantage, so expect to be flexible or even to lower the home price as necessary. Although the Denver metro market was recently revealed in a study to be the least depreciating metro market in the country at 0.55% compared to over 40% in some areas of California. Reports are that sales are still sluggish in some areas compared to several years ago.

 What can you do.

Sellers need to make a stellar presentation. Be sure the house is in near-pristine condition. Looks matter. Fix peeling paint. Make any needed repairs. Consider spending on amenities that attract buyers, such as newer appliances. The old mantra Kitchen and baths still holds true.In order to sell quickly for a good price, homes must be in better condition than the competition and be staged or looked staged and appealing from every angle. The days of selling by just putting a sign in the yard and listing in the MLS are over.

Find an agent that has had success in selling in your neighborhood in the last six months. They will develop a marketing plan to best suit your needs. Figure out how best to display and advertise a home for sale by targeting potential buyers who might be interested. This might include posting the home on websites, sending out mailings to neighbors, holding several open houses and analyzing comparable home sales in the area in the past six months.

Price realistically. Listen to your agent they are not their to take money out of your pocket. Agents are paid on how much they sell the home for. Nothing's more essential at a time when buyers expect prices to fall further and are typically in no hurry to close a deal than to price your home realistically. Don't expect to make much of a profit, if any if you have bought in the last several years. Try to price the home slightly lower than the competition. A 1-2% below the market strategy can do wonders for getting your home sold. Realize all seller's today are selling their homes for less than they did a year ago, your not alone. Seller's who are refusing to cut their listing price, betting they'll be able to sell their home once prices bounce back, should keep in mind that few analysts expect a broad recovery anytime soon.

For a copy of our report 90 ways to get your home sold fast click here and fill out the contact form.

Jason & Deanna are Colorado resort real estate brokers focusing on Colorado Second Homes, Colorado Vacation Homes and Colorado Investment properties.

Breckenridge Real Estate

Breckenridge and Summit County Colorado have been a great investment for many years now but the recent activity by buyers outside of the U.S. I believe is due to new factors we have not seen in quite some time and maybe never before. Deanna and I have seen an up-tick in inquires and purchases by foreign buyers. Most of our non-US buyers have been from the UK. However we seem to be seeing an increased interest by many other foreign nationals for property especially in resort communities such as ours in Breckenridge Colorado.

Our Dollar:

When you consider how the U.S. dollar has slid in value compared to other international currencies, you begin to understand why investors are purchasing real estate in this country. Real estate prices here are a bargain compared to many areas in Western Europe and Asia.

A recent study shows the currency environment probably played a major role in the proportion of foreign buyers who paid cash for their homes. The cash group (28 percent) was much greater than that of the general U.S. home buyer population (8 percent). In addition, international buyers who can afford a home abroad often are from wealthier households with higher monthly incomes and cash reserves. Also, the tax benefits of mortgage-interest deductions may not apply -- depending on the buyer's home country's tax code -- which lowers the incentive to take out a mortgage.

Reasons for buying real estate in the US:

Our typical international buyer purchased a single-family home or townhouse. The primary purpose in purchasing the home was as a vacation venue for family and friends.

The typical international buyer in the U.S. spends 4.2 months in his or her U.S. property. U.S. visa rules allow nonresidents (unless under a student or work visa) to remain in the country for only six months. Because foreign buyers are nonresidents of the U.S., most of them plan to spend less than six months in their U.S. home. A small percentage -- 6 percent -- spends less than two weeks. Forty-four percent intend on using their U.S. property for one to six months. International buyers in the Ski resorts tend to spend less time than the average 4.2 months and traditionally use the home for 2-4 weeks in the peak winter ski months and an additional 2-4 weeks in the summer months.

Another reason we have seen more recently is the quality of skiing in Colorado as compared to Europe. Due to our elevation with most resort base areas above 8,000 feet and in the case of Summit County Colorado over 9,000 feet the quality of snow and longevity of the season has been a winning factor. In North America, the Rocky Mountains offer the steepest terrain and most ski-able acres, with variable terrain from above tree-line bowls and cliff bands, to aspen glades and pine cutes.

Investment is another reason. As we have stated due to our currency environment many international buyers can purchase here for quite a bargain. Take for example a $1.5 million dollar home on the ski slopes of Breckenridge can be had for less than 800,000 pounds or around 950,000 Euros. A home bought by an international buyer comes with a discount averaging 30% according to the National Association of Realtors estimates. We're a bargain right now for foreign buyers. (See the link below for current currency exchange rates). Many international buyers can purchase their dream vacation home here in the US for the same price or less than they could a nice flat or apartment in their home cities.

http://www.x-rates.com/calculator.html

Income and appreciation are another factor. By purchasing in desirable resort towns like Breckenridge, Keystone, Copper Mountain, and Vail, many international buyers ensure themselves of a steady flow of rental income. Due to exchange rates on the purchase of the home many purchases are positive cash flow generators from the start. If you add in the additional appreciation many resort communities see they have become very profitable for our foreign buyers as they sell them in later years.  

We have been working with foreign buyers for a number of years now and we have never seen the level of activity as we have in recent months. We see this as a way to diversify your investments and International buying power has increased tremendously.

Click here for a free resort property search.

Jason and Deanna are Colorado resort home brokers and focus on Vacation, second, and Investment properties.

 http://www.ski-homes-breckenridge.com/

I don't know if any of you have seen this but my title rep sent it to me today and asked me to pass it along. They are a national title company and I asked her how the top markets are performing. She said they have seen a Bounce off of the bottom a few months ago. Month over month for the last few months they have seen a slow but steady increase in new business in these markets. I think we could be turning a corner whats your thoughts? 

Spring is traditionally the busiest time of the year for real estate professionals. As the country enters its third year of a real estate slowdown, many are seeing the beginning of a thaw.

One reason is that sellers are giving up on boom-time prices and settling for less.

BusinessWeek with the help from Altos Research, a real-time housing research firm, ranked 14 of the country's largest cities based on how much sellers have cut listing prices in the last 12 months.

Listing information for New York City isn't included, but a recent report suggests that Manhattan prices have climbed 13 percent compared to a year ago.

Here are some of the nation's best buying opportunities based on Business Week's analysis:

Annual asking price change

• Sacramento, Calif : -40.96 percent
• Phoenix: -25.85 percent
• Los Angeles: -25.56 percent
• Las Vegas: -23.38 percent
• Atlanta: -22.19 percent
• San Diego: -20.34 percent
• Boston: -15.50 percent
• Miami: -13.84 percent
• Chicago: -12.34 percent
• Seattle: -3.83 percent
• Washington, D.C.: -3.53 percent
• San Francisco: -3.41 percent
• Houston: -2.41 percent
• Denver: -0.55 percent

Source: BusinessWeek, Prashant Gopal (04/18/2008

Spring is in the air here in Summit County Colorado. Just this morning I was looking down on the valley floor and realized there is dirt underneath all that snow we got. After a week of great temperatures and a warm breeze the south facing slopes are starting to re-emerge from there wintry tombs. My neighbor has a patch of what looks like green grass starting to emerge in the sun filled area of the yard.

Spring in Summit County is a time of reclimation to the beauty that has made us famous for views and Aspens trees alike. Soon the Aspens will begin to give forth their foliage and the flowers will emerge. It is also a time for activities. Many of us locals do two things in the winter Ski & Snowboard. But Spring & Summer is a time to have some fun. Summit county is called Colorado's play ground for good reason. We begin to get our boats ready, we shake off the dirt from our canoes and rafts. We take our bikes to the shop for tuning. We start to plan our vacations and the second wave of tourism begins to arrive in our resort communities of Breckenridge, Keystone, Frisco, & Dillon.

I thought it would be great to put together some activities for our readers, clients and fellow Summit County lovers alike.

One of our families favorite things to do is Colorado trail rides. The most popular excursion options at Copper Mountain Stables are the trail rides which are offered in one and two hour increments. Half day trips that include lunch are also available. Enjoy a scenic walking trail ride in the high country of Colorado that traverses the mountains through lush green meadows and forests. Picturesque wild flowers and wonderful views of the Ten Mile Range, Gore Range and Jacques Peak.

Another of our favorite things to do is white water rafting. Within an hour of Summit, you can experience everything from a mild, Class II float down the Colorado River, to a moderate Class III adventure on our own Blue River or down the famous Brown's Canyon on the Arkansas River, to the non-stop action of Clear Creek's Class IV stretches.
The Upper Colorado River offers a float that is more scenic than wild and great for families with younger kids, or those just looking for a relaxing trip along a beautiful stretch of river. The Class II Upper Colorado River trip takes you past natural hot springs, old cabins and dinosaur tracks near the headwaters of this famous river.

Brown's Canyon on the Arkansas River is one of the world's most popular whitewater rafting trips and is a great section for families and individuals alike. Offering unbelievable Rocky Mountain scenery and classic rapids such as Pinball, Zoom Flume, Widowmaker, and Sidell's Suckhole, these trips offer the perfect mix of whitewater, calm water and scenery.

The Blue River is located in the heart of Summit County. The perfect trip, mixing exhilarating whitewater and amazing Rocky Mountain scenery, the Blue River meanders through the Arapaho National Forest and offers over two miles of Class III whitewater, ending with continuous Class II rapids. Soon to be on the Blue is Silverthorne's white water park. located right in the downtown area we look for construction of the park and water features to begin soon.

Boating is another of our family favorites. With Lake Dillon running through the heart of the county it's hard to miss. For a relaxing boat ride we love to take the Lake Dillon Water Taxi. From Captain Mike's boat you can see the best views of Summit County from Lake Dillon. The Taxi runs from Frisco Bay Marina to Dillon Marina approximately on the hour. Fares start at $8.00 one way and travels between the Dillon and Frisco marinas. You also can take the boat one way, shop in Frisco and take the boat back to the Dillon marina later in the day.

One of Summit Counties hidden Gems is the Green Mountain reservoir.  The area continues to be one of the County's best kept secrets. It is our summer playground and only 20 miles north of Silverthorne but many years away from the resorts. The mountain ranch land, most still undeveloped, is surrounded by spectacular views of the dramatic Gore Range and the Williams Peak Range.

The lake is a boater's paradise. June through September you will see fishing boats, jet skis, water skis and pontoon cruising. Although trout fishing is very good all summer, the lake is best known for its excellent kokanee salmon, some of the biggest in the state.
The Gold Medal Trout waters of the Blue River, located above the reservoir, challenge fly fishermen year around. The Wild Trout waters, below the dam, offers some of the best fishing in the whole state of Colorado.

As the snow yields it's grip on our favorite spot in the world there will be more activities to do and more things to come for Summit County Colorado.

For more information about Summit County Colorado Click here.

http://www.ski-homes-breckenridge.com/

Jason & Deanna are local Summit County Colorado Realtors focusing on second, vacation, and investment properties in the resort communities of Colorado's high country.

Water house on main Street is one of Breckenridge and Summit County Colorado's newest luxury condo projects. Water House on Main Street consist of two buildings containing 55 luxury condominiums. Residence sizes vary from one to four bedroom condominiums. Water House development is located at the south end of Main street next store to the Hyatt Main Street Station.  The location is incredible because you are right in town, and are able to walk to the lifts. 

Rippling water alongside Water House restores the mind, but it's the array of resort-style amenities that wakes up the spirit. Start or end your day by selecting from a full menu of choices. A beautiful and heated outdoor pool with a total of seven hot tubs, offers a soak in any season. While the fitness center and club lounge invite rigorous workouts, and calming lookouts - respectively. A ski valet will happily keep your boots toasty. And a theater-style movie room provides an entertaining alternative on blistery snow days.

· Dedicated owner ski locker on-site

· Membership in Private owners club including:

    - Fitness facility
    - Sauna/locker rooms
    - Members lounge
    - Outdoor heated pool
    - 7 outdoor hot tubs
    - Media room

· Ski Valet on site with boot warmers

· Concierge services

· Underground parking

· Owner storage lockers

· Lockable owner's closet in each residence

· Cable TV access

· Wireless, high-speed internet access

· Walk to town/restaurants

· Walk to Peak 9's Quicksilver lift

· Nearby ice skating

· Meeting room availability

· In town resort shuttle

· Bellmen services

· On site property management

http://www.waterhouseonmain.com/sar/

For more information on Water House & Breckenridge resort properties click here.

http://www.ski-homes-breckenridge.com/

Summit County Colorado continuous to buck the national trend. We look to be back on track after a rare down month in February. Transaction volume was up 3% over March of 2007. The two price categories that continue to perform very well are $300,000 to $500,000 and $1,000,000 to $1,500,000. The first price range represents the value condo segment of Summit County with Ski in / out, & slope side condos going for a much higher price. This segment has continued to perform very well over the last year and looks to continue to do so. The Second category represents primarily single family homes and on resort ski run's & luxury condos. Most of the performance here is in the single family homes. With second home owners and retirees the primary buying source for these homes. With The Highlands at Breckenridge and Eagles Nest & Three Peaks in Silverthorne being the most active in single family homes in this segment. With new homes soon to come on-line in Anglers Mountain Ranch in Silverthorne this category should have nice inventory for the summer selling season.

Volume was up and the number of transactions continue to decline and has so for several years. If you have read these reports before you may know I have noted that this is the trend at many resorts. As a market matures and land becomes less available the properties appreciate faster and thus pricing becomes higher causing each transaction to be higher and less transactions due to the cost of the properties.

Land is becoming more scarce around the county and we are seeing incredible appreciation on some of the properties as noticed by the average transaction amounts for vacant land at $573,000 in 2008. Most figure land cost for homes should be no more than 25-30 % of the home price. The resulting homes being built on these lots will be in the $2,000,000 and up category. Total build out for Summit County Colorado is still predicted in the 2012-2014 category. Once this happens appreciation is estimated to continue to escalate at an even faster clip.

Single family appreciation seems to be holding steady but we will get a clearer picture after the summer selling season when most of the nicest homes become available and sell during these months.

Breckenridge & Keystone Colorado were transaction volume leaders in the county for March followed closely by Silverthorne which includes Wildernest. This has been the trend for some time however Keystone is usually in the third spot. With all of the renovation and the new Gondola going in a Keystone this maybe something to watch as Keystone completes a major renovation.

Take a look at the following graphs and area info for March 2008 info and statistics.

Market analysis by area 3 months Summit County

Cost Break Down March YTD 2008.

Market analysis % change.

For more information about Summit County Colorado or for a free mountain & resort property search click here.

The Long Group Jason, & Deanna are Summit County Realtors with a focus on Vacation, Second, & Investment Properties in the Colorado resort communities.

http://www.ski-homes-breckenridge.com/

Located in the quaint Victorian town of Frisco Colorado, is a beautiful, corner unit with over 1100 feet of finished living space. This home is perfect for family and resort buyers alike. Clean and inviting, a gem and nicely finished with new wood flooring and slate entry. Rare 2 car garage and laundry area inside of the home. A great clubhouse with pool, racket ball, 2 hot tubs, tennis courts and stocked fishing in the community pond. One of the nicest town homes in the area and offered at a great price. Recently painted and only minutes to Breckenridge, Copper Mountain, & Keystone ski resorts with x country skiing out of your front door. Home has breathtaking mountain and lake Dillon views. Offered at $439,900

• 2 Bedroom with large master
• Master includes jetted tub
• 2.5 bath 1/2 bath located of of main living area
• Deck off of family room
• Views of surrounding mountains and lake Dillon
• One of the best club houses in Summit County and Frisco

Family Room

Bedroom

Frisco Main Street

Take the tour below for more information on this property.
http://jasonlong3.point2agent.com/Listing/VirtualTour.aspx?ListingID=1663648&sq=false

For more information contact us at: 1-800-620-1009 EX: 199

Jason & Deanna Long - The Long Group

http://www.ski-homes-breckenridge.com/

Well, I'm looking for a consensus opinion here. What do you think of posting our listing on AR? Deanna and I have never done it. We have listed projects we work with in general terms and pricing but never a specific listing. We post our listing in numerous places on-line. So tell us your experiences.

My questions are:

Do you feel it gets additional exposure?

Have any of you has anyone had a potential client call on a listing posted on AR.

Do you think your listings belong on your blog?

What do you think the public thinks when they read your blog and there is a listing? Do they think it is nice, or a shameless promotion on your behalf.

I'm sure there will be many opinions on this but I would love to hear them. Deanna have always used our blog as a marketing / communication tool to future and current clients. So we have kept the listing separate. I am considering starting to post our listings on AR but let's see what everyone has to say.

Thanks everyone!!

Rolling Ridge Townhomes development is one of the last Townhome projects to be built in Silverthorne Colorado. Only 20 town homes will be built on the ridge of the gateway to Wildernest.  There will be 5 phases with pase 1 now complete and phase 2 just released. Each building will consist of 4 units 2 interior units and 2 corner units. The views are spectacular with views from the Continental Divide to Dillon depending on location.

The interior finishes are hi-end with rustic touches with an inviting yet elegant feel. The main entry way will be finished with natural slate flooring in keeping with Silverthorne's mountain feel. Bathrooms will be natural Travertine stone for the most discerning buyers. Kitchen Counter-tops will be finished in solid Granite slabs and kitchen appliances will be stainless steel including a refrigerator. The main living area flooring will be finished in a rustic hickory real hard wood floor that gives you the feeling you are in a quality residence. The main living area and upstairs bedrooms are vaulted with a large open feel for the ultra in open living. Each home is heated with an energy efficiant radiant baseboard heat system including a boiler separate from the homes fresh water supply. The HOA dues are currently set at an affordable $250 per month which includes snow removal in the winter months.

Interior units are 3 Bedrooms and 4.5 baths and include a single car garage. End units are 4 bedrooms and 4.5 baths and also include a single car garage.

Sales on the rolling Ridge Townhomes have been robust, at just over 2000 sq-ft the 3 bedroom homes start at $550,000. One of the lowest price per square foot new home developments in the county investors and second home buyers have been the primary purchasers in the development. Located only minutes from world class skiing at Keystone, Breckenridge, & Copper Mountain.  

Walk Out Level: Includes 2 Bedroom Suites , Laundry room w/hook-ups and Mechanical Room, Patio.

Main Level: Including Garage, Entry with coat closet, Powder room, Kitchen, Living room, Fireplace and deck.

Loft Level: Includes 2 Bed Suites.

For more information on Rolling Ridge Town-homes or for a free property search of all of Silverthorne Colorado listings click here.

Information Deemed reliable but not guaranteed. Information brought to you by the Long Group in Summit County Colorado. The Long Group is focused on providing second home, resort, and investment properties in the Rocky Mountains of Colorado.

http://www.ski-homes-breckenridge.com/