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Latest Market Stats Update for October 2018

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

A Review of October 2018 Market Stats Info:


September 2018 Market Analysis

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 September 2018: There were a total of 259 transactions and $161,902,700 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $656,093, average residential price was $724,882 and average residential PSF was $478.
  • Year to Date Market Analysis ( 9 months): Monetary volume in YTD 2018 totaled $1,262,111,655 with 1866 transactions: $705,136 average transaction price, $739,194 average residential price and average residential PSF $467.
  • Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +3%, Multi- Family +9% and Vacant Land +14%. Median Indicators for Single Family +6%, Multi- Family +8% and Vacant Land +16%.
  • Market Analysis % Change 2018: Monetary volume ($161,902,700) in September 2018 was up only 1% from September 2017. Transactions (259) were up 4% from September 2017.  YTD 2018 monetary volume is up 11% from YTD 2017, and transactions are up 2% YTD 2018 compared to YTD 2017.
  • Residential Cost Analysis:  Residential volume in September had 196 transactions with $142,076,900 gross volume. There were 38 properties that sold for $1M and above in September The most active price points were between $300K-$500K with 58 transactions. There were 78 Single Family, 118 Multi-Family and 18 Vacant Land transactions.
  • Average Price History by Type 2018: Average price for residential Single Family: $1,029,123, Multi- Family: $523,774 and Vacant Land: $318,444.
  • Comparative Historical Cost Analysis YTD 2018: There were 1469 residential transactions and $1,085,876,278 gross $ volume with 272  properties selling for $1M and over.
  • Top Lender Analysis September 2018: There were 552 loans in September, 74% of purchasers closing with financing at the time of the sale, there were 82 REFI’s and 278 loans were timeshare related. 26% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 11 of the Market Analysis- You can note the higher priced sale in September in the Woodmor area at $4,030,000. The top priced PSF in the Main Street Station Condos at $1,056.
  • Foreclosures:  There were 6 Foreclosure actions taken in September compared to 3 last September 2017.
  • Purchaser Profile Abstract:  There were 40 upper end sales in September 2018 compared to 61 in August 2018. Our buyers for real estate transactions for 2018: Front Range demographic at 41% of our market, 35% are “local” and 23% are out of state buyers with 0% International. Please note a new page 17 comparing demographics of our buyers through 2013.
  • Land Title New Development Summary: This (page 18) shows all the new construction each month, there were 26 in September compared to 40 in August.

Land Title Guarantee Company September 2018 Market Analysis 


Historical Summit County Market Analysis
Click here for Archived Summit County Market Analysis

Open House – Sunday, April 8th Frisco

Open House Sunday, April 8th

11:00am – 3:00pm
539 Granite St. #5
Frisco, CO 80443

Come say hi to The Skinner Team and see this incredible condo  in Frisco, CO! Location, Location, Location. This condo is located just 1 block off of Main St. in Frisco! 


  • $760,000
  • 2 bedrooms / 2 bathrooms
  • 1,402 sq.ft.
  • Sold mostly furnished
  • 1 block from  Main St. Frisco
  • 2 assigned parking spots
  • HOA dues are $427/mo. and include common area maintenance, insurance, management, snow removal, and trash pick up.

Incredibly spacious townhome style condo 1 block to Main St. Frisco.Two large bedrooms on the entry level with two baths and a laundry center. Upstairs is a large, warm, open space living, kitchen, and dining area with gas fireplace and walk in pantry. Hickory hardwood floors, granite and stainless appliances . A Murphy bed in the living area. Condo will sleep 9 easily. Heated parking facility with 2 assigned spaces, 2 ski lockers and a dedicated storage area. Incredibly well appointed home.

 


Sunday, April 8th
11:00am – 3:00pm
539 Granite St. #5
Frisco, CO 80443

For more information on this open house or any of your real estate needs please contact us!

Keller Williams Surpasses $1 Billon in Profit Share to Associates

Keller Williams Surpasses $1 Billon in Profit Share to Associates

Profit share is one way in which Keller Williams Realty exemplifies the principle of success through others. Each month, market centers share roughly half of their profits with the agents who helped grow the market center and make it profitable. But in order for there to be profit share, there must first be success.

Since the inception of the , KW has distributed more than $1 billion to associates who have helped the company grow!

And, thanks to the company’s recent growth and agent production gains, it has distributed more profit share in the past four years than in the preceding 21 years combined.

“As a company, we’re motivated by helping people fund their lives and create opportunities,” CEO John Davis says. “Giving back is part of our culture. Profit share allows our people to earn passive income for life so they can pay for their kids’ education, take care of their parents, and invest for the future.”

The historic achievement comes as Keller Williams is closing in on its most successful profit share year yet. Through the first 10 months of the year, KW has shared $151.9 million with associates in the United States and Canada, an increase of 14.1 percent compared with the same period in 2016. (Keller Williams associates outside of the United States and Canada participate in a similar program called “growth share.”)

Individual Keller Williams market center owners share roughly 50 percent of their office’s monthly profits with associates who have helped the business grow. As of Oct. 31, 98 percent of Keller Williams market centers were profitable for the year. Moreover, a record four market centers had already distributed $1 million or more this year. There are also individual agents who have received seven-figure distributions.

In the six years since Keller Williams launched its companywide Growth Initiative, profit share payouts have grown substantially:

  • $154.4 million in 2016
  • $129.8 million in 2015
  • $98.1 million in 2014
  • $78.2 million in 2013
  • $55.3 million in 2012
  • $38.3 million in 2011

Keller Williams Co-Founder and Chairman Gary Keller and early company leaders created the profit share program to ensure the goals of KW owners and agents remain permanently aligned. Innumerable lives have been changed as a result.

“Profit share saved my life.”

Dawn Braithwaite, a top-producing agent out of Ridgewood, N.J., credits the profit share program for saving her life. After a bad fall, Braithwaite sustained severe injuries to her wrist and within 24 hours learned she needed surgery. Her heart sank as her insurance company told her the surgery would not be covered.

“I just got divorced and was trying to pay all my bills,” Braithwaite says. “There was no way I could afford it. I didn’t know what to do.” After meeting with her doctor early in the week, she learned her only options would be to negotiate the price of the surgery down or have it performed by medical students at another clinic on the other side of town. But even at a discounted rate, the surgery was out of her price range.

She canceled her surgery and resigned herself to being stuck until she received an unexpected message in her inbox.

“On Thursday, I opened my email and saw that my profit share check had been deposited,” she says. “I couldn’t believe it!” Stunned and relieved, Braithwaite contacted her doctor right away and was in surgery the following day. It ended up being the surgery that saved her life.

“What should have taken an hour ended up taking two and a half,” Braithwaite explains. “It was a complicated operation because the doctors found that I had severed an artery and nerves. I could have bled to death. If profit share hadn’t come in, I don’t know what I would have done.”

“With profit share, our opportunities to give are so much greater.”

Linda McKissack.pngLinda McKissack, Keller Williams’ number one profit share earner, calls the program “the greatest gift we’ve been given.” Since becoming purposeful about profit share in 2007, McKissack has built a significant business and teaches agents how they can fund their lives long after their last deal is finished.

While McKissack has enjoyed the money, “the real gift is significance,” she comments. “It changes people’s lives.”

She has seen the impact firsthand with her family.

“My son-in-law was sick for 10 and a half months with terminal cancer,” McKissack shares. “My husband and I only worked three weeks during that time because money was coming in passively. Helping him fulfill his life wishes and being with my daughter, granddaughter and family – it was priceless. If you have profit share covering your expenses, you have freedom. You never know what’s on your horizon.”

“It allows me to be free. I will pass it along to my children.”

Since profit share is willable, agents are able to leave a lasting legacy for years to come. When Charles Bowles – a Keller Williams agent from Tulsa, Okla., and a significant profit share earner – died, Steve Whitaker was astonished to learn he had been included in his will.

“We were good friends and I helped take care of him during the last few years of his life,” Whitaker explains. “When he passed, he left everything to me, including profit share. I was able to take the proceeds and build my own house with it.”

Today, Whitaker is thriving in Oklahoma and owns a waste-removal company called Git-Er-Gone along with numerous properties. He partners with many Keller Williams agents in the area to remove unwanted items from homes. The monthly income from profit share “allows me to be free,” he says. “I don’t have to work as hard as I would.”

Just as Bowles paid his profit share forward, Whitaker plans on willing his profit share to his children so they can benefit from him. “I will put it in a trust so they can continue to take care of the properties we own.”

Article Link

Under Contract – Breckenridge Land Lot

 Beautiful Breckenridge Lot

– Under Contract –
$340,000
110 Omaha Dr.
Breckenridge, CO 80424

Discover this gently slopping 1.52 acre lot tucked off the beaten path in between Frisco and Breckenridge. It has stunning views of Lake Dillon, the Ten Mile Range and Swan Mountain. This impeccable lot is the perfect build site and you can easily connect to all utilities. Dream up your perfect mountain escape where you can mountain bike or hike right out your back door. You can also be at 6 ski resorts in minutes. This lot can help make your vision a reality!


  • 1.52 Acres
  • HOA dues $400 per year include snow plowing on the main streets
  • Electric: Available
  • Gas: Available
  • Water: Municipal Water Available
  • Sewer: Septic Needed
  • MLS Link
  • Breckenridge is a hub for world-class outdoor adventures and wonderful in town dining.

Text 26381 to 46835 for pictures and more information!



new name slate

Skinner Team and KW

Coming Soon! Rockridge 3 BD/2 BA Breckenridge I $575,000

Coming Soon! 

$575,000
1010 Atlantic Lode Rd. #1010
Breckenridge, CO 80424
Open House!
Saturday, August 19th
10am – 2pm


This 3 bed, 2 bath townhouse is tastefully updated and has outstanding views of Breckenridge ski area. With world-class hiking & biking out your back door and the free bus stop right in the front, this is the perfect getaway. With a large main level, 3 floors and plenty of storage, there is space for everyone to enjoy. This townhouse boasts granite counters, wood floors, high end stainless appliances, new cabinets and recessed lighting. For an added bonus, this home has a solid rental history!



  • 3 Bedrooms / 2 Bathrooms (1 full bath, 1 3/4 bath)
  • 1,433 sq ft
  • Beautiful views of Breckenridge Resort from Deck
  • Free bus out front to historic Main Street Breckenridge
  • HOA dues are $500 per month and include cable, wifi, common area maintenance, common taxes, insurance, snow removal, trash pickup, water and sewer
  • Sold fully furnished
  • Learn more about Breckenridge, CO and all the activities in the area!

    Text 25972 to 46835 for pictures and more information


    For more information about this listing or to set up a showing please contact me:

    new name slate

    Skinner Team and KW

#ExploreSummit

Don’t forget to #exploresummit while you are here in Summit County. The local newspaper, The Summit Daily, may just publish your photo! You can also #comtnrealty to show off your great housing finds while here in the county, or your amazing day on the slopes. 

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New Land Listing

New Listing

$32,500
Land for sale

Leadville, CO 80461
Lots Size: 0.58 Acres
Improvements: None
Electric: Available
Gas: Available
Water: Municipal Water Available

Sewer: Septic Needed

1400

Discover a hidden mountain gem, close to shimmering, crystalline lakes; some of Colorado’s tallest peaks; and charming downtown Leadville. Enjoy the quiet seclusion of being tucked back among aspen and pine trees on 0.58 acres, surrounded by wildflowers and cool breezes, yet within an easy two miles of downtown eateries and shops. Turn your dreams into reality by building your very own picturesque mountain retreat on this pristine, flat lot!

more information

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For a showing or more information please Contact Me:

Anne Skinner
COLORADO MOUNTAIN REALTY
970.389.6987
Anne@COMtnRealty.com

New Single Family Home Listing!

Featured Property

5 Tax Benefits of Owning a Second Home

As a RSPS certified realtor I can help you find your perfect family get away. Realtor.com explains how owning that home can even help get you more tax benefits.


 5 Tax Benefits of Owning a Second Home

STEPHEN WEBSTER/Getty Images

There are tons of benefits that come with owning a second home: novelty and adventure, a place to escape and unwind, an opportunity to create memories that last a lifetime, a valuable tool to make vacation-craving friends like you a whole lot (for better or for worse).

But there’s another benefit that’s often overlooked: the tax breaks.

You already know that owning a home usually offers some tax deductions. But what if you own two? Or three? What if you’re a regular Donald Trump (back in his real estate, meat magnate heyday, of course)?

Since we know you won’t mind a little extra cash to spend while soaking in your surroundings during your next getaway, we thought we’d tell you how to reap the fruits of your second-home purchase.

1. Mortgage interest—yes, again

When it comes to owning a second home, the interest on your mortgage is deductible. The same rules that come with writing off mortgage interest for your first home apply to your second.

In fact, you can write off as much as 100% of the interest you pay on up to $1 million of debt, which includes total debt taken on to pay for both homes, as well as money spent on improving the properties. (That’s not up to $1 million for each property—just up to $1 million in total.)

2. Home improvements

Is your second home a fixer-upper? If you want to spend the off-season making improvements to your hideaway, you can deduct the interest on a home equity loan or line of credit.

But there are a couple of exceptions.

For starters, there will be a limit on the amount you can deduct if the home equity loan on your main or second home is more than $50,000 if filing single or $100,000 if married or filing jointly.

Second, the amount you can deduct has a limit if the mortgage is more than the fair market value of the home, says Gil Charney, director of The Tax Institute at H&R Block.

For example, let’s say a taxpayer has a mortgage of $220,000 and takes out a home equity loan of $65,000. The property’s fair market value is $275,000. Since the difference between the fair market value and the mortgage is $55,000, then $55,000 of the home equity loan can be deducted, not the full $65,000.

3. Property taxes

You can also deduct your second home’s property taxes, which are based on the assessed value of the home. That’s good news. Even better news? Unlike the mortgage interest tax deduction, there’s no dollar limit on the amount of real estate taxes that can be deducted on any number of homes owned by the taxpayer.

But beware: Taxpayers who can afford two homes are likely to land in a higher tax bracket—which means slimmer pickings for tax savings. For example, in 2016, a married couple whose gross income exceeds $311,300 would have limits on the types of itemized deductions they could take.

4. Renting out your home

If you rent out your second home for 14 days or less over the course of a year, that rental income is tax-free—and there’s no limit to what you can charge per day or week. Score!

But if you’re hoping to put your secondary digs on Airbnb or another rental site for more than 14 days during the year, be prepared to do some heavy math come tax time.

You’ll want to figure out the number of days you rent your home and divide that by the total number of days your home was used—whether it was you or a renter staying there. (The total number of days that the home was vacant doesn’t fall into this equation.)

For instance, let’s say you rented out your vacation home for 30 days within a year, and vacationed in your home for 90 days.

We’ll divide 30 (the days you rented it out) by 120 (the total number of days the home was used). The result: 25% of your rental-related expenses—which could range from utilities to the cost of a property manager—can be deducted. Now, if your home is losing value, that same percentage (in this example, 25%) of depreciation costs can also be deducted.

Here’s the caveat, Charney explains: Depreciation costs can be deducted only if there is rental income remaining after taking into account other deductions, such as mortgage interest, property taxes, and direct expenses tied to renting your home—like agent fees or advertising.

5. When it’s time to sell

Maybe you bought a far-off hideaway that you’re lucky to visit a couple of times a year. Or perhaps your vacation home is just a quick drive away, and you spend every possible moment there.

If it’s the latter—and you don’t already know which of your homes is your primary residence and which is the second home—now’s the time to figure it out. Distinguishing between the two can have big tax implications when it comes time to sell.

That’s because a capital gain of up to $250,000 (or $500,000 for taxpayers who are married/joint filers) on the sale of the principal residence may be excluded from taxable income.

Your principal—or primary—residence is the home you used most during the five years prior to the sale. But other factors—such as your job’s location, voter registration address, and banking location—could also come into play. Among other requirements, you must own and use that principal residence for at least two of the five years before the home is sold.

We know—that’s a lot of heavy stuff to take in. But you knew your second home would pay off in more ways than one, right? Now, hurry up and file your tax return—so you can escape to your happy place and forget about burdensome things. Like taxes.

The Land Title Summit County Market Analysis

Screen shot 2016-01-24 at 5.45.18 PM December 2015 Year End Market Analysis

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.

December 2015 Highlights:

  • Market Analysis by Area for December: The last month of the year turned out to be a busy one with 276 transactions and $141,435,873 monetary volume. Average transaction price for all 18 reported areas: $512,449: Average residential price:$525,692: Average residential PPSF $372.
  • Market Analysis by Area YTD 2015 (12 months):  Final year Monetary volume was $1,372,793,984 with 2537 transactions.-Average transaction price: $543,881, average residential price: $546,678 and average PPSF: $348.
  • Market Snapshot for Years 2015 vs 2014:  Final 2015 values held strong and are as follows: Average Indicators for $: Single Family +9%, Multi- Family +12% and Vacant Land +17%. Median Indicators for $: Single Family +7%, Multi- Family +19% and Vacant Land +8%.
  • Market Analysis % Change Complete Full Year 2015 Data: Monetary volume ($141,435,873) in December was up +57% compared to December 2014. Number of transactions (276) were up 48% in December 2015 compared to December 2014. Full year 2015 Summit County real estate is up 30% in monetary volume and up 18% with number of transactions compared to full year 2014.
  • Residential Market Sales by Price Point: Residential volume in December had 230 transactions with $120,909,250 gross volume. There were 16 properties that sold for $1M and above in December.  The most active price points were again in the $200K-$300K range this month. There were 71 Single family, 159 Multi-family and 19 Vacant land transactions in December.  Full Year 2015, there were 678 Single family, 1422 Multi-family and 156 Vacant land residential transactions.
  • Full Year 2015 Average Price History: Average residential pricing continues to increase for 2015- Single Family: $855,925, Multi- Family:$399,232 and Vacant Land was $372,794, all up the past 4 years.
  • Historical Cost Breakdown for Full Year 2015: There have been 2100 residential transactions YTD and $1,148,024,568 volume with 198 properties selling for a $1M and over-compared to 2014, there were 1731 transactions and $858,667,681 gross volume, 126 properties at $1M and over and in 2013, there were 1563 transactions with $769,965,955 gross volume, 122 properties at $1M and over.
  • Top Lender Graph: There were 604 loans in December, 65% of the loans were related to sales, there were 131 REFI’s and 294 loans were timeshare related. 35% of the real estate closings were cash transactions. Full year 2015, the average for cash closings ended at 34%. The list of lenders and number of transactions for all the 5684 loans are listed in a link below.
  • Market Highlights: Please see page 10 of the Market Analysis-Higher priced sale in December (Shock Hill). There were no bank sales again in December.
  • Foreclosures: Foreclosure actions ended 2015 way down with only 63 on for the year, there were only 3 Foreclosure actions in December compared to 12 in December 2014.
  • Land Title Purchaser Highlights (Page 14): There were 20 higher end sales in December, similar to November’s 21 – you can see the details on this report. Full year 2015, our buyers for real estate transactions were the Front Range demographic at 40% of our market, 29% are local ( side note: which in part are  “retires” coming to Summit County) and 30% are out of state buyers, with 1% International. 
  • Land Title New Development Summary: This (page 15) shows all the new construction each month with 27 in December, 9 Town Centre Condos closed in December, the report also includes the Deed Restricted new construction which isn’t included on the other Residential reports.

Click here for the full Land Title Report.