Stop Renting & Start Buying!

 

 

Life at Altitude with Danielle Connor

May 2022

I’ve been thinking over and over lately , “What part can I play in helping our community amid the ongoing housing crisis in Summit County? ”   It feels like my responsibility as someone with influence in our real estate market to come up with creative solutions that will contribute to “keeping Summit County local”. Our locals are the thread that holds us together, and we have to continue to evolve together.  After a brainstorm with Anne and knowledgeable local lender, Rob Kingsbury of KeyBank, the following emerged. Read on . . .

What’s our big idea?
Out of our brainstorming came an idea- home prices are rising, and with 30-40% appreciation last year, buying hasn’t gotten easier- and neither has renting. That doesn’t change the fact that Summit County locals want to stay, so why not stay together?  While one person might have $350,000 buying power alone, two people could have $700,000. That could be a two bedroom condo in Summit, or a house in Kremmling, Leadville, Alma or Fairplay. Rather those two people paying rent to someone else, wouldn’t it make sense to pay that money toward a mortgage where they could gain equity? (Then, could you imagine the buying power of three people?)

Our thinking is this- within a community so tight knit, there have to be individuals that have business or personal relationships with someone else that also wants to stay in the county. If this sounds like you, let us help you be in control of your own future here, rather than holding out hope that you will be able to rent season after season. Let us share info with you about Summit County’s housing programs already in place, and how to prepare to buy a home.

How can our team help unrelated parties purchase together?
Before I was in real estate, the idea of buying with someone I worked with or was friends with would definitely have sounded intimidating, though I see now how beneficial it can be! Our team has guided numerous sets of unrelated parties through the purchase of second homes and investments. We want to show you how to do that, too! When two (or more) parties take title in these scenarios, they do so as “Tenants in Common”. There can be any number of tenants in common, and interests do not have to be equal, but must add to 100%. This interest can be transferred in the future by sale, gift, will, or inheritance. At the same time, each co-owner also has the right to mortgage, sell, or otherwise transfer their own interest in the property without the consent of the other owners. Taking title in this way is what would grant unrelated parties protection in their purchase, and I really think this opens doors for our community. Read more about Tenants in Common and Joint Tenancy from Land Title Guarantee Company HERE.

If/when there comes a time when someone wants to move on, there are options for doing so. The party that wants to leave could decide to rent out their room and still be responsible for mortgage payments, all parties could decide to sell and split the proceeds, or the party leaving can be bought out by other parties. All parties can benefit when it’s time to part ways.

What if I need down payment assistance?
Summit County has a number of resources for first time homebuyers, the first being Down Payment Assistance programs. One important distinction about down payment assistance, Rob with KeyBank noted, is that it actually comes in the form of a second loan with its own interest rate (2-3% for Summit options). It is a really common misconception that the assistance just comes in the form of a check- oftentimes, these are not grants and funds are required to be paid back.
The Summit Combined Housing Authority (SCHA) currently has (2) assistance programs- the Housing Development Grant Program and the Summit Revolving Loan Fund Loan Program. Each program has income requirements, meaning that borrowers must fall within certain income thresholds, as well as meeting certain property requirements and primary mortgage requirements. Through each of these options, homebuyers can obtain up to $25,000 of assistance. Those falling within the 80-100% AMI range can also ask SCHA about additional programs they might have available that aren’t listed on the website.

The Colorado Housing and Finance Authority (CHFA) also offers down payment assistance (and some coverage of closing costs) in an amount up to 3% of purchase price with no payback required for borrowers that are using one of their first mortgage loans. They also offer an option to receive assistance as a second mortgage loan in an amount up to 4% of the purchase price.

How do I prepare to buy a house?
First time homebuyers can register for the SCHA and CHFA required class HERE. This is mandatory if you’d like to receive assistance- take this (months) before you’re planning to buy. Other than taking the class, lenders will recommend checking out the following to prepare:
1. What does your debt-to-income (DTI) ratio look like? Compare your pre-tax income with any minimum required monthly debts like rent,  student loans, car payments, credit cards, and auto loans- anything regular, required, and recurring. Do not include utilities, health insurance, entertainment, food, clothing, and transportation costs.
2. What is your credit score? Do you need to work on building your credit? To obtain a conventional loan, you will need to have a score of 620 or higher. If you need to build credit, consider some of these options: request higher credit limits on existing credit cards, pay your debts on time, dispute any errors in your credit report, get a department store credit card if you don’t qualify for one from a bank, look into a secured credit card, and look up how to pay your balances strategically. Don’t close any credit cards until after you purchase your home!
3. Pay your taxes and make sure you can access your returns! Have those W2’s on hand, and it’s a good idea to have two years’ tax returns on hand.
4. Rob says- reach out to local lenders early, and choose the one you feel most comfortable with. Using a local lender will give you a huge leg up, because they know our market inside and out. If two offers on a home are comparable, seller’s agents will advise their clients to choose the offer with a local lender. Also, lenders will help you with all of the items mentioned above. They can guide you through figuring out your DTI, building your credit, and will advise you as to what documents they need to get moving!
5. Get pre-qualified. I can’t stress enough how important this is- having a pre-qualification letter from your lender will show sellers that a lender is vouching for your ability to make a purchase. 

If you are looking to buy with someone else, work together to get this all done and hold one another accountable to accomplishing your home-buying goal, and reach out to our team if you have questions along the way. We’d love to partner with you in your journey!

Anonymity & Protecting Your Real Estate Investments

As a real estate investor, protecting your assets should be a top priority. Setting up LLCs correctly and choosing anonymity for those LLCs can be very helpful. Since you don’t know when things might go awry, you’ve got to be prepared!

If you or your property are the source of a lawsuit or have done anything to bring liability to you, and all of your assets are held in your name, you become a “deep-pocket defendant”. Anything held in your name and easily discoverable is fair game when a plaintiff attorney is deciding what to ask from you.

Limited Liability Corporations, or LLC’s, offer “Inside Protection”. This means that if something happens at a property held inside the LLC, you as an individual and your assets are protected. The LLC will be held responsible in a court of law, and the LLC only owns what is shown within the LLC. The corporate veil will generally protect owners of the LLC from being liable for that LLC’s judgements or debts.

Despite the protections an LLC affords, it is not uncommon for a plaintiff’s attorney to try to tie an owner’s assets up in a judgment or lawsuit if they can identify them. If an attorney can discover that you are the owner of multiple LLCs it can lead them to look a little further and discover multiple properties that you own. Therefore, creating anonymity for your LLCs can become very important in trying to limit the impact of a lawsuit. 

The cornerstone to an anonymity compliant asset protection structure is making sure an asset search doesn’t turn up your name in relation to any of your LLC’s or your properties. This means setting up your first LLC correctly from the get go is important, and having a buffer entity is a must. Many people will refer to this as a parent structure where you create one LLC that is the owner of multiple other LLCs. By having that parent LLC be the owner of the subsequent LLCs, it removes your name from the paperwork. In Colorado, you may have to use registered agent services to truly accomplish removing your name from those LLC.

It becomes important to register that parent LLC in states where you can be the owner without having to put your name on the LLC. Some of the most popular are Wyoming, Nevada, New Mexico and Delaware. 

Another consideration when choosing the state for your parent LLC is “Outside Protection”. States like Nevada, Wyoming, and Texas prevent a creditor from holding your business responsible for your personal liabilities through Charging Order Protections (COP). Many people refer to this as reverse piercing of the corporate veil. Essentially, charging order protection prevents a creditor from seizing your business assets to satisfy a personal debt.

Taking this route is how you get multilayered protection, in such a way that linking you to any of your investments is much more difficult. The goal with creating a structure such as the one described above is to encourage the plaintiff to take the maximum insurance payout and make any other option too difficult and time consuming to be worth pursuing.

-Danielle Connor

Home Inspections

 

Life at Altitude with Danielle Connor

April 2022

Before I became a licensed broker, I watched all of the popular real estate shows on TV and felt like I’d already become an expert on buying, inspecting, and flipping houses. . .so, if I fell in love with a property tomorrow, I’d know exactly what to do. Boy, was I wrong! You definitely can’t (shouldn’t?) become a real estate expert from the couch, especially not when it comes to home inspections. Read on to learn more about inspections in Colorado and where they fit in the home buying process.

In Colorado, homes are sold in “As Is” condition, “Where Is”, and “With all faults”
What does that mean for homebuyers and sellers? When a seller puts their home on the market and goes under contract, the seller is required to disclose all known adverse material facts in writing. The real estate brokers in a transaction are also required to share any adverse material they have actual knowledge of . Material facts are anything known about the physical condition of the property (past or present) and environmental hazards affecting the property and  could negatively affect a home’s value. Adverse material facts are not facts that would psychologically stigmatize a house, like if someone passed away inside. That doesn’t have to be disclosed. Examples could be a leaky roof, repairs done due to fire damage, a flood, structural issues, mold, etc. The best rule of thumb is that if you have to ask if you should disclose it, then you should disclose it! Think of adverse material facts as anything and everything that someone might want to know about your home. For sellers, it is always better to over disclose.  Sellers can and do get sued for not disclosing enough. 

It is up to the buyer to do their due diligence!
When the home hits the market, it is being conveyed as is, in its current condition, and the seller is making no representations or warranties regarding the property or matters affecting the property. Because sellers make no guarantees about the home they are selling, it is up to the buyer to dive deep into the known (and unknown) about the property. This is where home inspections come in, and it is highly recommended to have professional assistance. I always suggest to my clients to choose trusted, local home inspectors. Sharing anything with them from the Seller’s Property Disclosure that the seller knows has affected/is affecting the property or anything that the buyer physically observes that might be a concern allows the home inspector to dig even deeper. Ask the inspector what they suggest to look at additionally, and pay for the extra services if they make sense. In Colorado, common add-ons we see are radon testing, sewer scopes, well testing if applicable, and roof inspections because of how harsh the elements can be here at a high and dry elevation with snow coming down ¾ of the year. 

How do I choose a home inspector?
First and foremost, buyers- ask your agent who they recommend! My local knowledge of the areas I serve includes an extensive list of vendors and contractors that I am more than happy to share with my clients. When interviewing:

  • Ask for a report from a recent inspection that the inspector has done and review for thoroughness.  The important area to look at is the inspector’s notes and photos.
  • Ask about what the inspection will cover – will the inspector be going into crawl spaces, the attic and the roof? Will the chimney be inspected? Do they recommend add-on services?
  • Find out what the inspection does not cover – many do not cover mold, asbestos, lead, wells or septic systems so you may need to find additional service providers.
  • Ask about a radon inspection.  Radon is a common issue up here so decide whether an inspection is important to you.  You can find out more about radon by visiting www.EPA.gov/Radon
  • Experience is valuable!  Ask about the inspector’s background. 
  • An inspector should give you a firm price for the inspection.  Prices tend to vary, as does quality.  Be suspicious of an overly inexpensive inspection bid.
  • Find out if they have any bonus extras such as home warranties, floorplans, or 3D tours.

Where does the inspection fit in the buying process?
Here in Colorado, inspections are typically completed within the first 10 days of going under contract (not before going under like in some other states). There are a few ways it can be written in (or out):

1. There is an Inspection Objection, Inspection Resolution, and Inspection Termination deadline. Buyer retains the right to inspect and submit an Inspection Objection, which is a document outlining a list of health/safety/functionality items to ask for the Seller address. The items are typically either asked to be fixed, or the buyer asks for a credit at closing to address it themselves. The Seller can agree to all, some, or none of the items. Both parties either have to come to a resolution on all/some of the items, move forward without anything  being addressed, or terminate. If the parties can not come to a signed resolution, the contract will automatically terminate.


2. The Inspection Objection and Resolution deadlines are omitted from the offer, and only the Termination deadline stays. The buyer still retains the right to inspect, though they cannot ask for anything from the seller. After the inspection, the buyer decides whether to move forward or terminate.


3. The Inspection Objection, Termination, and Resolution deadlines are omitted from the offer. Buyer could still technically inspect, though they are waiving their inspection period and the right to terminate (or not) based on inspection, so any inspection is essentially of no value for moving forward or not.

 

Which option is best? I hear about people waiving their right to inspect all the time!
I always recommend Option 1 when possible. Keep the right to inspect and to negotiate with the seller if anything big comes up. Don’t waive your right to inspect if you don’t need to! Since there are many second home owners and investors here in the mountains, we encounter many sellers who haven’t been to the property in months (or even years). They may not have seen issues with the roof or that the floor is sloping inward. They may not know the radiant in-floor heat has been leaking glycol for a long time and is now failing. Major issues = $$$$, and many buyers don’t have an unlimited budget, especially after most homes are selling above list price. This avenue holds space for negotiation and the most opportunity for a win-win scenario. You can come to a resolution with the Seller, or terminate and keep your earnest money.

With the competitive nature of the current market, Option 2 would be the next best bet. Retain the right to inspect, and decide if after the inspection you are willing to take on any inspection findings yourself, or if you would like to terminate. Depending on the age and condition of the home, or if you are putting an offer on a new(er) condo where major systems are HOA responsibility, this could be totally fine. The inspection could reveal some cosmetic damage and minor issues, or it could open a can of worms. You will still have the option to either move forward or hand back that can of worms and retain your earnest money! If you go with this option, you need to be prepared to cover the cost of any repairs if you still want to move forward after the inspection as you will have waived your right to negotiate for any repairs or credits.

Option 3 means your offer is not contingent upon inspection at all- that no matter the condition of the house, you are purchasing it completely as is. If you do decide to terminate based on a material fact that was not known and not disclosed, you could terminate, and would not get your earnest money back. We generally do not recommend this option. Not taking your opportunity to learn more about a home through a home inspection could be very risky for your and our job as your agent is to share all the pros and cons, help you weigh the options and make the best choice for your situation.

What you decide is up to you- and I am here to help! Email me or give me a call if you have questions after reading this about home inspections or the homebuying process. I’d love to be your local mountain real estate expert!

How to Be a Competitive Buyer

For interactive version click here.

Back on the Market – Leadville Single Family

Back on the Market at NO Fault of the Sellers!

$660,000

$695,000
618 W Chestnut St.
Leadville, CO 80461


  • 2 bedroom / 2 bathroom
  • 1,418 sqft
  • Fantastic location in downtown Leadville close to the Mineral Belt, hospital, Harrison Ave, and more!
  • Great layout with tons of storage and beautiful built-ins
  • Large garage with amazing additions: mechanic pit, engine lift, and ventilation system
  • Three outbuildings including a dedicated carpenter shop
  • stainless steel siding great for Leadville winters.

Live in the heart of downtown Leadville on this seven lot single family home with wonderful mountain views and great additions! These include, but are not limited to: a garage with a mechanic pit, an engine lift, a vent system, and a dedicated carpenter shop. Enjoy the beautiful south-facing natural light inside where you’ll find hardwood floors upstairs and custom built-ins. In the warmer months relax in your very own wildflower garden grown from seeds collected in the surrounding mountains!



Floorplan:


For your private showing or more information please contact me:

Skinner Team and KW

February 2022 Market Stats Summary

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.

A Summary of February 2022 Market Stats Info:

Archived Market Stats Videos


Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source. You are welcome to utilize this link within your own websites.

  • Market Analysis by Area for December 2021: There were a total of 183 transactions and $205,268,620 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,166,045, average residential price was $1,177,393 and average residential PSF was $704.
    • Market Analysis by Area YTD 2021 (12 Months): There were a total of 2868 transactions totaling $3,053,165,389 in monetary volume. Average transaction price was $1,090,082, average residential price was $1,117,682 and average residential PPF was $677.
    • Market Snapshot for FULL Years 2021 vs 2020:  Average Indicators for $: Single Family +24, Multi- Family +24% and Vacant Land +37%. Median Indicators for Single Family +21%, Multi- Family +22% and Vacant Land +38%.
    • Market Analysis % Change YTD December 2021 and Final 2021 Recap: Monetary volume in December 2021 was down 13% from December 2020. Transactions were down 35% from December 2020.  Final 2021 numbers, $ volume is 31% up and transactions are up 2% from full year 2020.
    • Residential Cost Analysis:  Residential volume in December had 148 transactions with $174,254,119 gross volume. There were 70 properties that sold for $1M and above in December. There were 59 Single Family, 89 Multi-Family and 14 Vacant Land transactions in December 2021. In 2021, there were a total of 895 Residential Single Family, 1459 Multi Family and 180 Vacant Land transactions.
    • Average Price History by Type- 2021: Average price for residential Single Family: $1,717,028, Multi- Family: $750,022 and Vacant Land: $504,480.
    • Comparative Historical Cost Analysis Comparison 2021-2020-2019: Full year 2021, there were 2,354 residential transactions and $2,631,022,363 gross $ volume with 887 properties selling for over $1M. In 2020, there were 2291 transactions with $2,069,655,256 gross $ volume with 658 properties selling for over $1M. In 2019, 1933 transactions with $1,586,910,706 gross $ volume with 454 properties selling for over $1M.
    • Top Lender Analysis December 2021 and Full Year 2021 There were 463 loans in December, 127 loans were related to sales, there were 227 REFI’s and 109 loans were timeshare related. Cash transactions made up 31% of real estate closings. In 2021, there were 7.016 loans, 1,917 loans were related to sales, there were 3,474 REFI”s and 1,625 loans related to timeshares. 33% of the real estate closings were cash transactions in 2021.
    • Foreclosure 2021 Update: The year of 2021 closed out with 63 total foreclosure actions – 56 of those were for timeshares.
    • Market Highlights:  Please see page 11 of the Market Analysis. Note the higher priced sale in December 2021 in Breckenridge at $5,250,000. The top priced PSF was in Breckenridge (One Ski Hill Place) at $1821.
    • Purchaser Profile Abstract:  There were 76 upper-end sales in December 2021 compared to 93 in November. Our buyers for real estate transactions for December 2021: Local buyers are at 23%, Front Range, 44% , Out of State ,33% and 0% International buyers. There is also a graph included showing demographic trends through 2013 on page 18.
  • Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

December 2021 Market Report 

Life at Altitude – March 2022

Life at Altitude with Danielle Connor
March 2022

To HOA, or not to HOA?

As our team’s Buyer Specialist, I field a lot of questions about Homeowners Associations. “Are they actually helpful?” “Aren’t HOAs super restrictive with what I can do?” “Why are they so much per month?” 

There aren’t black and white answers for these questions, but as someone who has researched a vast number of associations for my clients, I’d like to outline what Homeowners Associations aim to be, and you can decide for yourself whether belonging to one could be a good fit for you or not. Read on . . .

What are the benefits of a well-run association?

Simply put, a well-run association will foster a sense of community amongst homeowners and will provide support they might not otherwise have in complexes or subdivisions without governance, all while maintaining property values.

HOAs have governing documents, which I’ll discuss in more detail below, that ensure your complex/neighborhood looks good and is well-maintained throughout. Common areas stay nicely manicured & amenities are taken care of. Buying a property in a managed community means mandatory membership- you can’t opt out. So, in neighborhoods with single family residences or duplexes/townhouses, fellow homeowners are held to a high standard of exterior maintenance, which contributes to maintaining property values. In condo complexes, the HOA itself maintains the exterior of the building, and homeowners themselves are held responsible for following the rules governing what they can or cannot do to their exteriors (like, no kayak storage on balconies, or big signs in their windows).

And, while I know you’d never have an argument with a neighbor about tree limbs or fences, there are steps for mediation when things do go south. The governing documents outline rules to adhere to when property issues arise, and the Board Members provide support in sticking to them.

Many HOAs are also known for hosting events in their community, from trash-pickup days and other volunteer work, to annual outdoor BBQs so neighbors can get to know one another. 

Where do HOA dues go each month?

This will truly vary from HOA to HOA. Condos often have more included in dues than single family homes/duplexes/townhouses. An “all-inclusive” condo association’s dues will go to Cable Tv, Clubhouse Membership, Common Area Maintenance, Common Taxes, Electric, Gas, Heat, Complex Insurance, Internet / Wi-Fi, Professional Management, Snow Removal, Trash Pickup, and Water / Sewer. Separately, that would be a lot of bill payments, wouldn’t it? When all of these services are bundled together, homeowners actually receive a discount versus if they were paying for each service out of pocket. In neighborhoods with single family homes/duplexes/townhouses, HOA dues often only go to a few things like Common Area Maintenance (if any), Complex insurance, and Trash/Snow Removal, and there is often still benefit in bundling those costs. Now, most of us who are homeowners do pay for all services separately in communities without Associations and have no issue in doing so. However, wouldn’t it be nice to have someone else do it for you?

Many condo associations and a select few subdivisions also have a professional, on-site or contracted, that performs periodic property checks throughout the year. They ensure the home is in the condition expected and that no issues have arisen, like pipes breaking in the winter or the stove being left on. This provides owners with peace of mind knowing that when they aren’t at their property, everything is safe and sound and secure. That is especially important in our market here in the mountains where many of our owners have second homes they don’t occupy year round. 

All items above are considered “Operating Expenses”, and while a large portion goes to operation and daily maintenance, most HOAs also have funds set aside each month in “Reserve Accounts”. 

What are “Reserves” and “Special Assessments”?

Reserve accounts hold money set aside by an HOA as a safety net to cover emergency costs, repairs, or significant capital improvements. Many associations have Reserve Studies done to analyze their current financial health and where they could improve to mitigate future financial emergencies. The reserve study report presents a prioritized schedule of capital projects and a reserve funding plan including a projected reserve fund cash flow over the next 30-years. 

An important note: For those obtaining a conventional loan for a purchase in a condo complex  with an HOA, Fannie and Freddie require that at least 10% of an association’s dues each month go toward Reserves.
Keep in mind, HOAs are not required to have funds in reserves. So, when you are considering purchasing in a community with an HOA, it is important to check their financial health, including the current budget as well as how they’re performing on building their reserves. A good rule of thumb is that if an HOA is 70-80% funded per their reserve study, they are likely in great health and at low risk of a special assessment. 

If an HOA has historically saved really well and only used reserve funds to make capital improvements and large repairs, they will continue to do so. On the contrary, if they haven’t built reserves in the past and have instead charged “Special Assessment” fees to homeowners when big projects come up, this will likely continue to be the norm. Neither is wrong, it just depends on your viewpoint and when you’d like to spend your money. 

Say the roof on your building needs to be replaced- would you rather have been charged an extra $100 a month over time, or pay $7,000 all at once (or, when allowed, in installments) for your share of the “Special Assessment” for the roof? This is the difference between your dues contributing to reserves, or paying a special assessment.

What are Governing Documents?

An association’s governing documents contain the rules, regulations, and all other contractual terms that members are bound by as soon as they close on their home. Per the Colorado Contract to Buy & Sell, we obtain all of the following documents that exist for your review when we go under contract:

  • Declaration
  • Articles of Incorporation
  • Bylaws
  • Articles of Organization
  • Operating Agreements
  • Rules & Regulations
  • Party Wall Agreements
  • Responsible Governance Policies
  • Assessments
  • Meeting Minutes
  • Insurance Policies
  • Financials
  • Construction Defect Action (not common

The Articles of Incorporation & Organization, Responsible Governance Policies and Bylaws establish the HOA as an organization and outline how it is run and the rights and responsibilities of the organization. 

The Declarations, Rules and Regulations (also known as CC&Rs) and Party Wall Agreements establish what you can do, and how you can do it. When I’m asked questions like “Can I fence in my backyard?”,  “What if my neighbor paints their house lime green?”, or “What happens if my neighbor smashes a hole through our shared wall?”, the answers are in these documents! Condo complexes and subdivisions alike utilize governing documents.

Study the financials. While they outline reserves, discussed in detail above, the operating expense breakdown is also here, as well as amount of money in operating accounts. This will give you a feel into the financial health of the HOA.

Finally, read the Meeting Minutes (Notes). Get a feel for how the HOA Board operates and conducts meetings, what they discuss, what issues come up and how they’re resolved. The minutes allow you an opportunity to get to know the board members before you ever meet with them. The governing documents may not be light reading, but are so important to understanding your rights as a homeowner and to make sure you agree with the terms of being an HOA member. 

So- to HOA, or not to HOA?

At the end of the day, you decide whether or not to purchase a property within a Homeowners Association, and one size definitely does not fit all. I would love to answer any questions you might have beyond what I touched on today. Check out my contact information below- I can’t wait to hear from you!

New Construction Opportunities

New Construction
Presented by The Skinner Team| KW Top of the Rockies
February/March 2022

We strive to keep our information up to date, however, please keep in mind that new construction availability changes on a day-to-day basis

Highlands Riverfront | Blue River

Luxury Living on the Blue River. Dedicated acres of open space provide an open community setting with riverfront access directly across from White River National Forest. Offering duplexes and single-family homes by Breckenridge Lands, a developer with over 60 years of experience delivering luxury homes in Breckenridge.
https://highlandsriverfront.com/

Kindred Resort | Keystone

A new neighborhood Kindred (One River Run) will complete the Keystone River Run base area and be a state of the art, amenity rich, mixed-use development Featuring a Luxury Ski In/Out Hotel and 95 Luxury Ski In/Out condominiums ranging from 1-4 bedrooms.
https://kindredresort.com/

Angler Mountain Vistas | Silverthorne

Residential homes just below the Ptarmigan Wilderness area on 35 acres with unparalleled views of the Gore Range.  Offering two level mountain modern homes with generous west facing decks. This subdivision borders open space allowing for quick access to trails and hiking. 
https://anglermountainvistas.com/

Summit Blue | Silverthorne

A new community offering both single family residences & townhomes situated along 350 feet of private access to the Blue River in Silverthorne. Located within a short walk of the best recreational and retail amenities in Silverthorne. https://www.livesummitblue.com/

Apres Shores | Silverthorne

Mountain residences on the shores of the blue river within walking distance of Silverthorne’s newest restaurants, shopping and entertainment. 60 mountain modern residences, an onsite owner’s clubhouse and views of the Gore mountain range
http://apres-shores.com/

Elevation | Vail

Vail’s newest premier mountain contemporary living, ELEVATION is located in the heart of Lionshead Village, just steps from the gondola and the world’s premier ski and summer resort area. Nine total residences, with only three currently remaining for sale including one three bedroom, one four bedroom and the penthouse. Amenities include a private gym, spa, parking spaces, outdoor firepit, ski lockers and more. 
www.elevationvail.com

Legacy at Vail Square | Vail

Luxury residences steps from the Lionshead gondola, from a team that’s been here since the very beginning. Legacy at Vail Square capitalizes on one of the last great locations in Vail. As such, each residence prioritizes a spacious, modern layout with a stunning views of Vail Mountain and the Vail Valley at large. Each new home boasts expansive views and balconies that face the mountain slopes. Offering 2, 3 & 4 bed residences. 
www.legacyvail.com

The Lion | Vail

The Lion is one of Vail’s newest luxury properties featuring studio to four-bedroom residences to rent on vacation or become an owner yourself. The Lion’s private and quiet location is just a short walk to ski slopes, ski school, restaurants, and shopping within Lionshead Village.
www.thelionvail.com

Altus | Vail

Vail’s only brand new, boutique residential unlike anything to hit the real estate market in decades. Supremely private and intimate, only 8 move-in-ready residences remain, perched above the Gore Creek with views up-mountain and out across the village. Instant access right out the door connects you to Vail’s premier dining, shopping, and entertainment, plus Gondola One is just a short walk away. Designed to live like single-family homes with spacious interiors and private features like semi-private elevator access, generous outdoor decks, and incredible views. Offering 2-5 bedrooms. 
www.altusvail.com

Frontgate Avon | Beaver Creek

A new development designed to embrace their love of the outdoors and well-appointed resort-style living. Frontgate will be the definitive expression of modern mountain luxury and adventure in the Vail Valley, featuring up to 75 condominium residences and 9 townhomes rich with bold amenities and style.
www.frontgateavon.com


ONE Riverfront | Avon

One Riverfront is your final opportunity to own an exceptional new residence in the coveted Riverfront Village Community. With the Westin Riverfront Resort & Spa as your neighbor, Beaver Creek just a short gondola ride away, and a design style that perfectly captures the essence of Vail Valley living. Offering townhomes and condominiums. 
www.oneriverfront.com

Railyard | Leadville

Railyard Leadville is Leadville’s newest master planned community with approximately 38 acres on the northeast side of the City of Leadville. The approved PUD and Final Plat for Phase 1 includes 27 single-family detached homes, 36 townhomes, and 6 duplex homes, for a total of 69 residential units. There are also 8 commercial lots available in Phase I, which are ready for retail, restaurant, office, condo, apartment, etc. The approved PUD and Final Plat for Phase 2 includes: 33 single-family detached homes, 14 townhomes, and 1 duplex (2 units), for a total of 49 residential units. There are also 5 commercial lots available in Phase II, which are ready for retail, restaurant, office, mixed-use, etc. Phase I of the neighborhood also includes McClary Park, Matchstick Green and Mineral Belt Green, providing green space within the neighborhood. Railyard Leadville borders the existing Mineral Belt Trail (a 11.6 mile paved trail that loops the city of Leadville) and is a short walk to Leadville’s historic downtown Harrison Avenue.
www.railyardleadville.com

Angel View | Twin Lakes

Our community of secluded ranchettes provides all the best of mountain living. This enclave of tree-laden homesites preserves the natural splendor of the land while providing service and solitude that make the mountains feel like home. Living the ranch life doesn’t have to mean hard work. With a bevy of onsite services from adventure planning to snow removal, our team will help you make the most of your ranchette without all the fuss. 18 Sites Available. 
www.angelviewtwinlakes.com

Minturn North | Minturn

Minturn North is a new extension of town that offers a wide variety of building lot sizes and types.  Phase One offers small cottage lots, mid sized compact and standard lots.  The design guidelines for these parcels offer a great deal of flexibility and opportunity for all. Hike up Game Creek to Vail or for the more adventurous, ski home via the Minturn Mile.  Walk to downtown to a great selection of eclectic shops and wonderful restaurants and bars.
www.minturnnorth.com

Frost Creek | Eagle

A new development situated on 1,100 acres of ranch land and mountain wilderness in the Vail Valley, Frost Creek delivers the genuine Colorado experience. Offering new construction luxury homes and homesites where you can build your dream home. Located 15 minutes from the Eagle Airport & I-70. The development also includes members-only access to a 285-Acre golf course.
www.frostcreek.com

 

Buckhorn Valley | Gypsum

The Buckhorn Valley Community offers single family homes and is conveniently located next to the Eagle County Airport in Gypsum, Colorado.  Enjoy a clean, quiet community and offering open space and parks. 
www.buckhornvalley.org

Stratton Flats | Gypsum

Located in Gypsum, just 30 minutes from world class skiing in Vail and Beaver Creek, Stratton Flats is the perfect place to call home in the mountains. The Town offers wonderful amenities such as nearby schools and shopping, a Pete Dye Championship golf course, and much more. Stay in shape at the Gypsum Recreation Center, watch the kids enjoy the skate park, enjoy concerts at the outdoor amphitheater, and relax and beat the summer heat at the pool.
www.strattonflats.org


Have any questions about these wonderful new construction properties? Let us know! We’re happy to help!

Price Improvement – Leadville, CO Single Family Home

PRICE IMPROVEMENT!

$660,000

$695,000
618 Chestnut St.
Leadville, CO 80461


  • 2 bedroom / 2 bathroom
  • 1,418 sqft
  • Fantastic location in downtown Leadville close to the Mineral Belt, hospital, Harrison Ave, and more!
  • Great layout with tons of storage and beautiful built-ins
  • Large garage with amazing additions: mechanic pit, engine lift, and ventilation system
  • Three outbuildings including a dedicated carpenter shop
  • stainless steel siding great for Leadville winters.

Live in the heart of downtown Leadville on this seven lot single family home with wonderful mountain views and great additions! These include, but are not limited to: a garage with a mechanic pit, an engine lift, a vent system, and a dedicated carpenter shop. Enjoy the beautiful south-facing natural light inside where you’ll find hardwood floors upstairs and custom built-ins. In the warmer months relax in your very own wildflower garden grown from seeds collected in the surrounding mountains!



Floorplan:


For your private showing or more information please contact me:

Skinner Team and KW

Mid-February 2022 Market Update

Here is where you can find all the latest info on the Summit County, CO market from Anne & Danielle of The Skinner Team. Including our market stats video series and information compiled by the Land Title Guarantee Company.

A Review of Mid-February 2022 Market Stats Info:

Archived Market Stats Videos


Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source. You are welcome to utilize this link within your own websites.

  • Market Analysis by Area for December 2021: There were a total of 183 transactions and $205,268,620 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,166,045, average residential price was $1,177,393 and average residential PSF was $704.
    • Market Analysis by Area YTD 2021 (12 Months): There were a total of 2868 transactions totaling $3,053,165,389 in monetary volume. Average transaction price was $1,090,082, average residential price was $1,117,682 and average residential PPF was $677.
    • Market Snapshot for FULL Years 2021 vs 2020:  Average Indicators for $: Single Family +24, Multi- Family +24% and Vacant Land +37%. Median Indicators for Single Family +21%, Multi- Family +22% and Vacant Land +38%.
    • Market Analysis % Change YTD December 2021 and Final 2021 Recap: Monetary volume in December 2021 was down 13% from December 2020. Transactions were down 35% from December 2020.  Final 2021 numbers, $ volume is 31% up and transactions are up 2% from full year 2020.
    • Residential Cost Analysis:  Residential volume in December had 148 transactions with $174,254,119 gross volume. There were 70 properties that sold for $1M and above in December. There were 59 Single Family, 89 Multi-Family and 14 Vacant Land transactions in December 2021. In 2021, there were a total of 895 Residential Single Family, 1459 Multi Family and 180 Vacant Land transactions.
    • Average Price History by Type- 2021: Average price for residential Single Family: $1,717,028, Multi- Family: $750,022 and Vacant Land: $504,480.
    • Comparative Historical Cost Analysis Comparison 2021-2020-2019: Full year 2021, there were 2,354 residential transactions and $2,631,022,363 gross $ volume with 887 properties selling for over $1M. In 2020, there were 2291 transactions with $2,069,655,256 gross $ volume with 658 properties selling for over $1M. In 2019, 1933 transactions with $1,586,910,706 gross $ volume with 454 properties selling for over $1M.
    • Top Lender Analysis December 2021 and Full Year 2021 There were 463 loans in December, 127 loans were related to sales, there were 227 REFI’s and 109 loans were timeshare related. Cash transactions made up 31% of real estate closings. In 2021, there were 7.016 loans, 1,917 loans were related to sales, there were 3,474 REFI”s and 1,625 loans related to timeshares. 33% of the real estate closings were cash transactions in 2021.
    • Foreclosure 2021 Update: The year of 2021 closed out with 63 total foreclosure actions – 56 of those were for timeshares.
    • Market Highlights:  Please see page 11 of the Market Analysis. Note the higher priced sale in December 2021 in Breckenridge at $5,250,000. The top priced PSF was in Breckenridge (One Ski Hill Place) at $1821.
    • Purchaser Profile Abstract:  There were 76 upper-end sales in December 2021 compared to 93 in November. Our buyers for real estate transactions for December 2021: Local buyers are at 23%, Front Range, 44% , Out of State ,33% and 0% International buyers. There is also a graph included showing demographic trends through 2013 on page 18.
  • Thank you for your continued loyalty to Land Title.

Please reach out with any questions.

Brooke Roberts

December 2021 Market Report 

Real Estate in Frisco, Breckenridge, Dillon, Silverthorne, Keystone, Copper Mountain, Vail, Beaver Creek and other surrounding areas

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