Category Archives: Summit County Real Estate

New Construction! Cucumber Creek Estates

Cucumber Creek Estates 
cucumbercreekestates.com

Breckenridge Lands is delighted to announce its newest offering of luxury homes centrally situated between the base of Peak 8 and historic Main Street. Cucumber Creek Estates incorporates five cottages and twelve paired residences tucked behind the Nordic Center, backing Shock Hill and adjoining the Cucumber Creek Open Space. Owners will enjoy exterior maintenance free living, exceptional access to skiing and the finest finishes.

Available Properties


Master Pan: 


Foorplans: 


Want to learn more? Contact us today for more information on this new construction in Summit County! 

Understanding Mortgage Insurance

Whether you’re in the process of buying your first home or you’ve been a homeowner for years, there are few phrases that hit right to the bone like “mortgage insurance.” Why, you’re not sure entirely, but lots of people indicated that it was terrible and you were going to regret it.

As usual, the truth lies somewhere closer to the middle. Mortgage insurance is not your enemy, but it can be a costly surprise if you’re not prepared. Let’s dive into this hot button topic.

What Exactly is Mortgage Insurance?

Mortgage insurance is a type of coverage that your lender will take out on your loan to help shield them against loss should you default. They generally only require it if you have less than 20 percent down and often, this monthly payment will drop off once you’ve paid your home loan down to the point that your house has about 22 percent in equity versus its mortgage.

To be clear, this insurance does not cover you — at least not directly. In the case of default, the bank gets the check, but you get something, too. In many states, even recourse states, the mortgage insurance can be enough to prevent the bank from coming back on you for the difference between what you owe and what it was able to recover at a public sale.

Having mortgage insurance does not guarantee you will be free and clear should you lose your home, but it sure helps, especially if that house is in good condition when you turn it over to the bank. Its original purpose was to make it easier for people to get mortgages, even if they couldn’t come up with a big down payment, but during the housing bubble a decade ago many homeowners discovered that it can help on the back end, too.

MIP, PMI and Funding Fees

Mortgage insurance is a blanket term for several different insurance programs that essentially do the same thing. Rather than just calling it “mortgage insurance” across the industry, due to the way each program came into being in sort of a vacuum, different loan types have different names for it. For example:

* FHA calls it MIP, the Mortgage Insurance Premium. It was one of the first programs and the name is an original, for sure. It requires both an upfront and monthly payment.
* Private Mortgage Insurance is available on conventional loans and will be provided by one of a few different companies, MGIC being one of the biggest.
* Many people think that VA loans don’t have mortgage insurance, but they do — it’s a one time charge at closing known as the “Funding Fee.”

For most people, having mortgage insurance is just a reality of life. They can either continue to give their entire payment to someone else to pay off real estate the renter will never have a stake in, or they can give a fraction of their payment over to the bank in order to be given a chance to establish some equity and build a little wealth, even if it’s in the form of the family home.

Since the pricing of your mortgage insurance is based largely on your outstanding mortgage balance, the payment will get smaller and smaller each year. You can expect to pay from a half percent to one percent of your total mortgage balance annually. So, for example, if you borrow $300,000 to buy your home, your mortgage insurance payment will be anywhere from $1,500 to $3,000, or $125 to $250 a month, the first year.

Getting Rid of Mortgage Insurance

Although mortgage insurance has its place, you don’t want to pay it forever. That’s where this section of the blog comes in! If you borrowed using an FHA program after the summer of 2013 and had less than 10 percent down, you probably have lifetime mortgage insurance. There’s no joking, this is not a great situation.

Usually, once you reach 78 percent loan to value, based either on the original appraisal or an updated one, the bank will drop your mortgage insurance. You may have to write a formal request, but it’s not that big of a deal. With these FHA products, the mortgage insurance is meant to stay for the entire life of the loan. So, your options to shed it are a little trickier. You can:

1. Avoid it entirely by using a piggyback loan. This is a combination mortgage made up of an 80 percent LTV conventional loan and a 15 percent LTV secondary loan. That secondary loan, however, can have a pretty high base interest rate and may have terms like an adjustable rate, a shorter amortization period or a prepayment penalty.
2. Bring more to closing. Hey, it’s not fun to crack your piggy bank or 401(k) to get extra money, but there are times when it makes sense. This is one of them. You always need somewhere to live, you might as well be building equity, too.
3. Refinance the monster. If you’ve noticed prices in your neighborhood rising dramatically or you’ve just been paying on your mortgage a while, it could pay to refinance your loan. Your Realtor can help you determine if it will be worthwhile to spend the money for a new appraisal and new loan paperwork. That’s also the downside, though. It can cost as much to refinance at the wrong time as you’re paying in mortgage insurance.
4. Sell your home. You know, it was a good home, but you’re sick to death of paying the mortgage insurance. You plan to take the sale proceeds to buy another place that you can put at least 10 percent down on to avoid further incidents of lifetime mortgage insurance.

Most of the time, if you compare your mortgage insurance to the alternatives, it’s not really that big of a deal to pay an extra percent for the ability to buy a home with five percent down, rather than when you finally have 20 percent down.

Keep in mind that although interest rates have been in the three to four percent zone for a while now, pre-bubble, they were between six and eight percent for a prime mortgage and no one blinked an eye. Effectively having a four to five — or even six — percent interest payment doesn’t have that much of a relative impact on your monthly housing costs.

Ready to Shed That Mortgage Insurance?

Log in to your HomeKeepr community, where you can meet bankers who can help you refinance, builders who can help you add instant equity to your home and, of course, your Realtor who can help you build your case if you’ve accumulated enough equity naturally to be rid of mortgage insurance entirely. Because the entire community is powered by recommendations, you know the people you’ll meet can be trusted to follow-through in a totally professional way..

Full article here too 

Mountain Events: Oct. 12 – 14

Friday,  October 12th

Time Capsule Opening: 2:30p Town of Frisco

Beginner Glassblowing: 6pm Hot Shop, Breckenridge

The Backcountry Ball: 6pm The Maggie, Breckenridge

Saturday, October 13th

Make A Difference Day! 9am (KSMT)

Second Saturdays for Families: 10a-12pm BreckCreate, Breckenridge

Open Studio – Ceramics: 5pm-8pm Ceramics Studio, Breckenridge

Sunday, October 14th

Retro Dance Party: 11am Lakeside Bowl & Billiards, Dillon

Send It Sundays Climbing: 3pm – 4pm Breckenridge Recreation Center

Mountain Events: Oct. 6-7

Saturday, October 6th

Canvas Painting Party: 7pm Ready, Paint, Fire

Beginner Metalsmithing: 12pm – 2:30pm Hot Shop, Breckenridge

LostOberfest: 10a – Close Broken Compass Brewery

Sunday, October 7th

Pumpkin Fest at Rainbow Park: 11am – 1:50pm Silverthorne

Send It Sundays Climbing: 3pm – 4pm Breck Recreation Center

Live Music with Tina Ferguson: 4pm – 7pm Burke & Riley’s Irish Pub

Off-Season Closures – Breckenridge

BreckInsider’s list of which restaurants, bars & cafes are closed this off-season.

Before you head out in Breckenridge this off-season know which restaurants, bars, and cafes are closed. There’s still plenty to try!

BreckInsider full list below and here.

How to Survive a Kitchen Remodel – Houzz

Washing mugs in the tub and getting hooked on Pop-Tarts — here’s what to expect if you stay at home during construction

 September 13, 2018
Houzz Contributor. Hi there! I live in a 1920s cottage in Atlanta that I’ll describe as “collected.” I got into design via Landscape Architecture, which I studied at the University of Virginia. I’ve been writing about design online for quite a few years over at Hatch: The Design Public Blog.

Mountain Events: Sept. 29-30

Saturday, September 29th

Summit County Parade of Homes: 

Beginner Metalsmithing: 12pm Hot Shop, Breckenridge

Strings, Ciders, & Sours VIP & Grant Tasting Festival: 12:30p-6p Village at Breckenridge & Main St. Station

Girl Power Hour Climbing: 3p – 4p Breckenridge Recreation Center

Comedy Night Fundraiser – Sumukh torgalkar: 5:30p Frisco Day Lodge

Sunday, September 30th

Summit County Parade of Homes: 

Strings, Ciders, & Sours VIP & Grant Tasting Festival: 11a – 1p Village at Breckenridge & Main St. Station

Retro Dance Party: 11a – Close Lakeside Bowl & Billiards, Dillon

Be a Winemaker: 4p – 6p Continental Divide Winery, Breckenridge

Under Contract – Treehouse Condo

UNDER CONTRACT

$245,000
1 Bed/ 1 Bath 
Treehouse Condo
4400 Lodge Pole Cir. H105
Silverthorne, CO 80498



Relax in front of the new gas fireplace in this 1 bed, 1 bath Treehouse condo after a long day of skiing at one of 5 ski resorts Summit County has to offer! You can unwind at the two clubhouses at Treehouse which offer a sauna, pool, hot tubs and a game room. The updated kitchen & bathroom as well as the tasteful furnishings make this mountain retreat perfect for immediate enjoyment. This home also comes with a storage locker, has no stairs, and is close to a bus stop. The mountains are calling!

  • $245,000
  • 1 bed/ 1 bath
  • 569 sq. ft.
  • Storage locker
  • Near Summit Stage bus stop
  • Two Clubhouses: including pool, sauna, hot tub, game room, etc.
  • HOA fees are $475/mo. and fully inclusive: include HOAs 475 Cable TV, Common Area Maintenance, Common Taxes, Gas, Heat, Internet/Wi-Fi, Snow Removal, Trash Pickup, Water/Sewer, Electric

Matterport Tour:


Floor plan:



For more information about this listing please contact me:

Skinner Team and KW

Just Listed! Treehouse Condo H105

JUST LISTED

$245,000
1 Bed/ 1 Bath 
Treehouse Condo
4400 Lodge Pole Cir. H105
Silverthorne, CO 80498

Open House 
Saturday September 29th*
2:00pm – 5:00pm 
*may change



Relax in front of the new gas fireplace in this 1 bed, 1 bath Treehouse condo after a long day of skiing at one of 5 ski resorts Summit County has to offer! You can unwind at the two clubhouses at Treehouse which offer a sauna, pool, hot tubs and a game room. The updated kitchen & bathroom as well as the tasteful furnishings make this mountain retreat perfect for immediate enjoyment. This home also comes with a storage locker, has no stairs, and is close to a bus stop. The mountains are calling!

  • $245,000
  • 1 bed/ 1 bath
  • 569 sq. ft.
  • Storage locker
  • Near Summit Stage bus stop
  • Two Clubhouses: including pool, sauna, hot tub, game room, etc.
  • HOA fees are $475/mo. and fully inclusive: include HOAs 475 Cable TV, Common Area Maintenance, Common Taxes, Gas, Heat, Internet/Wi-Fi, Snow Removal, Trash Pickup, Water/Sewer, Electric

Matterport Tour:


Floor plan:



For more information about this listing please contact me:

Skinner Team and KW

Mountain Events: Sept. 15-16

Saturday, September 15th

Oktoberfest: 12-4p Arapahoe Basin

Breckenridge Wine Classic: Various Events/Times, Breckenridge

10 Barrel Summer Concert Series – The Flobots: 2pm Copper Mountain

Breckenridge Road Marathon: 8a Various locations to spectate.

Guided Mountain Bike Ride with RMU: 8a with Colorado Adventure Guides at RMU Tavern

Behind the Sets of the Lake Dillon Theatre Company: 1p Lake Dillon Theatre Co., Silverthorne

Social Dance Night: 6:30p Studio B Dance Center, Frisco

Sunday, September 16th

Breckenridge Wine Classic: Various Events/Times, Breckenridge

Fall Local’s Party – Boats, Bloodies & Brunch: 11a – 2p Frisco Bay Marina

I’ll Eat You Last: 6:30p Lake Dillon Theatre Co., Silverthorne

Summer Closing Day: 10a – 5p Copper Mountain, Various activities