Category Archives: Summit County Real Estate

NAHB Forecasting 6.6 Percent Jump in Housing Starts in 2014

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www.nationalmortgageprofessional.com

 

A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in yesterday’s National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.

 

Read the full article HERE

September 2014 Land Title Market Analysis

Want to know that the real estate market is doing in Summit County, CO?  Check out the September Market Analysis published by Land Title

September 2014 Highlights:

 

  • Market Analysis by Area for September: September indicated solid and strong market activity for Summit County real estate.There were a lot of upper end sales from out of state buyers that bumped up our gross volume. There were 272 transactions with $126,325,000 in gross monetary volume. The average transaction price for all 18 reported areas at $468,586, average residential price was up from last month, $506,337 and the median residential price was also up, $413,500. The average residential PPSFwas $311.The Keystone market was finally busy in September with 37 transactions.
  • YTD Transaction Summary: There have been a total of 1413 transactions with $672,341,981 monetary volume, the average transaction price for all 18 reported areas is $476,785. The average residential price is $503,151. The median residential price is $405,000. The average PPSFremains at $312.
  • Market Snapshot for YTD 2014 vs. 2013: Values remain steady and are as follows: Average Indicators for $: Single Family +3%, Multi- Family +4% and Vacant Land +4%.Median Indicators for $:: Single Family +5%, Multi- Family +7% and Vacant Land +70%. These indicators translate that the prices are still fairly stable to last year, increasing slightly especially the median price for vacant land in Keystone and Silverthorne this September.
  • Market Analysis % Change showing years 2004-2014 YTD: September monetary volume ($126,325,000) is up 19% from September 2013, transaction volume (272) is up 7% from September 2013. 2014 YTD(9 months) monetary volume is up 11% from YTD 2013. YTD 2014 transaction volume is up by 4% from YTD 2013. This September had the most transactions since 2007!
  • Residential Market Sales by Price Point : Residential volume in September had 236 transactions with $119,495,600 gross volume. There were 19 properties that sold for $1M and above in September. The most active price point in September was between the ranges of $300K to $400K, with $400K- $500K in second place. There were 84 Single family, 152 Multi-family and 14 Vacant land transactions in September.
  • 2014 Average Price History: Average residential pricing continues to be consistent as of September – Single family is $774,644, Multi- family is at $359,727 and Vacant land is $338,479. This graph on page 7 is a great piece to show your clients that our market has held it’s value over all these years.
  • Historical Cost Breakdown YTD 2014 : There have been 1189 residential transactions YTD 2014 and $598,737,300 gross volume with 91 properties selling for a $1M and over- Compared to 2013 YTD, there were 1104 transactions and $548,737,300 gross volume, 89 properties at $1M and over and in 2012 YTD, there were 842 transactions with $443,289,700 gross volume, 75 properties at $1M and over.
  • Top Lender Graph: There were 591 loans in September, with 60% of the purchasers obtaining financing at the time of sale. 40% of the real estate closings were cash transactions. There were 1220 Refinances. 307 loans were related to Timeshare Sales.
  • Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in September with the second month in 2014 with no bank sales
  • Foreclosures: Foreclosure actions were down again with 7 in September. YTD there have been only 52 Public Trustees Deeds.
  • Land Title Purchaser Highlights ( Page 15):There were 19 higher end sales in September to note- you can see the details on this report. In September, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 43% of our market, only 26% are local and 31% are out of state buyers. Again, out of state buyers were busy in September purchasing some higher end properties in Summit County!

Land Title Guarantee Company September 2014 Market Analysis

Open House Today

Sunday 10/19 11am-2pm

 

Come see this wonderful Mountain Thunder Condo. It has 2 bedrooms and 2 baths as well as underground parking.  Mountain Thunder has some of the best amenities in Breckenridge, CO and a convenient in town location.  Priced to sell!!! Click HERE for more information

 

Mountain Thunder Pic

 

 

Open House Today!

Open House Friday 10/17 2pm-5pm

 

Come see this wonderful Los Pinos Condo. It has 3 bedrooms and 2 3/4 baths as well as a 1 car garage.  Less than a 5 minute walk from this unit to the Snowflake lift in Breckenridge, CO. Click HERE for more information

 

 

Los Pinos

 

 

 

 

 

 

 

 

A Basin opens today

A Basin officially opened for the season this morning at 9am.  A Basin will beat Loveland to opening day this year with 700 vertical feet open on the High Noon run.  Skiers from all over will flock to A Basin this weekend to get their first turns of the season in.

 

A winter storm adds to the race for the first ski resort to open

Check out this great article from the Summit Daily about how this most recent round of snow has helped A Basin and Loveland get closer to opening
 

Winter storm dumps fresh powder on Summit County ski resorts

www.summitdaily.com

 

Frisco resident Joe Howdyshell woke up on Monday, Oct. 13, loaded an old pair of skis into his car and drove south.  The 31-year-old bartender learned from friends about a spot in Park County where the wind piled up fresh powder. After a 45-minute drive and a 30-minute skin, Howdyshell took his first turns of the season.  The run was a quick 200-foot vertical on a 25-degree pitch, he said. He found 8 to 9 inches of snow coverage, up to 18 inches in some spots, and hit a few rocks on the way up and out.  “I have a pair of rock skis,” he said. “Everybody needs a pair of rock skis.”

 

The winter storm that hung around Summit County from Sunday morning to Monday morning brought fresh snow and smiles at local ski areas.  Keystone Resort received 4 inches and began making snow on Sunday, almost three weeks ahead of its Oct. 31 opening day.  Although it is expected to warm up throughout the rest of the week, the resort will continue snowmaking with its recently upgraded equipment as long as temperatures drop low enough.  Other resorts around Summit will do the same.

 

“It’s been a little bit stop and go this season,” said Adrienne Saia Isaac, spokeswoman for Arapahoe Basin Ski Area, which started making snow on Oct. 1.  The resorts don’t officially track their snowfall until they open, but last year, A-Basin received about 17 inches in the weeks leading up to its Oct. 13 opening day with 9 inches falling in September.  This weekend’s storm brought 5 inches to the resort with snowmakers blowing snow into Monday, racing Loveland Ski Area to be the first Colorado resort to open.  Any rumors about A-Basin’s opening date are still just rumors, Isaac said. But that could change any day.

 

Every year, the resort announces its opening date 36 to 48 hours in advance, she said. “As soon as we know, we tell the world.”  At Loveland, employees unofficially recorded 8 inches of snow from Sunday’s storm, which later settled to 6 inches, said spokesman John Sellers.  Workers went around knocking snow off the base area buildings, usually a midseason activity, he said, adding that Sunday night was the best night of snowmaking for the resort so far this season.

 

At Copper Mountain, which will open Oct. 31 like Keystone, spokeswoman Stephanie Sweeney said the resort received 9 inches.  Some of it has been melting, she said, but it has helped out the snowmakers who started officially blowing snow a couple days before everyone else this year.  Copper announced it will have a costume contest to determine who will ride on the first public chair. Keystone also will have costume contests and other Halloween-themed festivities for opening day.

 

At Breckenridge Ski Resort, the last Summit County resort to open on Nov. 7, a snow stake recorded about 9 inches from the storm.  Colorado forecaster Joel Gratz, of Opensnow.com, correctly predicted 5 to 7 inches at the resorts along Interstate 70 as well as the season’s first Vail Pass closure on Sunday.

 

On Monday, he wrote that the mountains shouldn’t receive another winter storm for the next 10 to 15 days.  “I’d count on a tranquil weather pattern through most of the rest of the month,” he wrote, with potential storminess after Oct. 25.

Backcountry Ball Friday 10/10

SHA-Color-Cut-out-Logo-webThis year the Summit Hut Association will be hosting their 13th Annual Backcountry Ball on Friday October 10, 2014 at The Maggie Restaurant from 6pm to 9pm

 

 

This is an annual fall favorite! Join other hut and backcountry enthusiasts for a fun evening featuring a casual dinner, socializing, and as always, a killer silent auction! Tickets will be $25 for adults and include food, 2 drink tickets, and a pint glass. Kids $10 (no drink tickets or pint glass included). 250 tickets will be available and may be purchased in advance (until Thursday, October 9) here or at the door. The silent auction is always a highlight of this event and there’s something for everyone! Outdoor gear and clothing, ski passes and tickets, scenic train rides, massages, yoga – we’ve got it all.

 

Summit Huts Association provides inspirational backcountry refuge for self-propelled mountain recreational users and provides a unique venue in spectacular natural settings for community, charitable and educational programs. Summit Huts Association strives to provide opportunities for education about self- sufficiency, the high altitude environment, backcountry ethics, winter and avalanche safety, and other relevant topics.

 

Summit Huts Association is a non-profit organization, founded in 1987 and dedicated to developing and maintaining a system of backcountry cabins linked by non-motorized trails in Summit County, Colorado. SHA operates under special use permit from the Forest Service, USDA, in the White River and Pike-San Isabel National Forests. SHA is a separate organization from 10th Mountain Division Hut Association and is responsible for the construction, maintenance, and supply of its huts. SHA works with 10th Mountain, which takes reservations and handles some marketing of the Summit Huts.

 

When fully developed, the Summit Huts System will consist of seven or more cabins. Currently, the Summit Huts System connects with the 10th Mountain Huts system in the Vail Pass area. Future plans are to link the 10th Mountain huts and Summit Huts with the communities of Copper Mountain, Frisco, Breckenridge, Keystone, and Montezuma, and the surrounding backcountry. Presently, Summit Huts Association operates four huts: Janet’s Cabin near Copper Mountain Resort, Francie’s Cabin near Breckenridge, and the Section House and Ken’s Cabin on Boreas Pass east of Breckenridge.

Open house today 10am-1pm!

Check out this great 3 bedroom, 2 bath home in Wilderness/Mesa Cortina for only $450K.  This house has amazing view and a huge deck but it could use a little updating.  Great for first time home buyers or an investors dream.  It has been rented on a monthly basis for $2100/mo.  Click HERE for more information

 

Winter is right around the corner and now is the time to buy your next home in the mountains!

Winter is right around the corner…

And now is a great time to buy your dream home or next income property in the Colorado mountains! Over the next few weeks we will start to see a drastic reduction in the number of homes on the market.  Most homes that have not been sold will be removed from the market so they can be used as vacation rentals during the ski season.  Homeowners can cover their expenses and generate positive cash flow during the winter months by using their home as a vacation rental.  Why wait another year and let someone else make all of the money?  Contact me now to set up a time to search for property – 970.389.6987 or anne@comtnrealty.com!

Do you know someone looking to buy real estate in the Mountains?  I would also like to help any of your friends or acquaintances who may be looking to find their dream retreat.  A referral is the highest compliment I can receive!  Are you looking to buy real estate in another area?  I work with a network of agents all over the country and I would be happy to put you in touch with a great realtor in your area!

Click HERE to search the Summit County Colorado MLS  or to sign up for property notifications.
Click HERE to find out what is going on in Summit County Colorado and view the Summit Daily Event Calender
As resident and a homeowner in Dillon, I have intimate knowledge of the real estate market as well as the lifestyle that you are looking for. I specialize in real estate in Frisco, Breckenridge, Silverthorne, Dillon, Keystone, Copper Mountain, Vail, Beaver Creek and other surrounding areas. Contact me to find your dream home today!
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August 2014 Land Title Market Analysis

Want to know what the property market is doing in Summit County Colorado.  Check out the great analysis that Land Title Guarantee Company puts out each month.
 
August 2014 Highlights:

  • Market Analysis by Area for August:  August experienced a downturn from last August 2013 in Summit County.  There were 203 transactions with $88,825,100 in gross monetary volume. The average transaction price for all 18 reported areas at $439,258, average residential price was $474,525 and the median residential price was $400,000. The average residential PPSF was $300.   
  • YTD Transaction SummaryThere have been a total of 1141 transactions with $546,016,981 monetary volume, the average transaction price for all 18 reported areas is $478,735. The average residential price is $502,361. The median residential price is $402,000. The average PPSF is $312.
  • Market Snapshot for YTD 2014 vs. 2013:  Values are as follows: Average Indicators for $: Single Family +3%, Multi- Family +5% and Vacant Land +10%. Median indicators for $: Single Family +5%, Multi- Family  +7% and Vacant Land +35%.  These indicators translate that the prices are still fairly stable to last year, increasing slightly. 
  • Market Analysis % Change showing years 2004-2014 YTD:  August monetary volume ($88,825,100) is down 16% from August 2013, transaction volume (203) is down 6% from August 2013.  2014 YTD (8 months) monetary volume is up 5% from YTD 2013. YTD 2014 transaction volume is  up by 2%  from YTD 2013.  
  • Residential Market Sales by Price Point : Residential volume in August had 171 transactions with $81,143,800 gross volume.  There were 7 properties that sold for $1M and above in August.  The most active price point in August was between the ranges of  $300K to $400K, with $400K- $500K in second place.  There were 66 Single family, 105 Multi-family and 8 Vacant land transactions in August.
  • 2014 Average Price History: Average residential pricing continues to be consistent as of August – Single family is $770,746, Multi- family is at $362,167 and Vacant land is $357,345. This graph on page 7 is a great piece to show your clients that our market has held it’s value over all these years.
  • Historical Cost Breakdown YTD 2014 : There have been 953 residential transactions YTD 2014 and $478,750,481 gross volume with 72 properties selling for a  $1M and over- Compared to 2013 YTD, there were 903 transactions and $453,587,400 gross volume, 76 properties at $1M and over and in 2012 YTD, there were 718 transactions with $365,677,000 gross volume, 56 properties at $1M and over. 
  • Top Lender Graph: There were 510 loans in August, with 64% of the purchasers obtaining financing at the time of sale. 36% of the real estate closings were cash transactions.  There were 121 Refinances. 260 loans were related to Timeshare Sales.
  • Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in August with again no bank sales.
  • Foreclosures:  Foreclosure actions was flat with 11 in August 2014 compared to 12 in August 2013. There have been a total of 113 Foreclosure actions YTD 2014.
  • Land Title Purchaser Highlights ( Page 15):  There were 7 higher end sales in August to note- you can see the details on this report.  In August, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 42% of our market, only 32% are local and 26% are out of state buyers. 

 

For the full report, check out the link below:

Land Title Guarantee Company August 2014 Market Analysis