Meet with an agent to learn about the process and talk about your wants and needs.
Talk with a lender to determine your budget, down payment and closing costs.
View properties online and in person to find a great fit
Your agent will help you prepare an offer with the best price and terms to secure the property.
Deliver your earnest money to the title company and start the closing process.
HOA, Title, Due Diligence Dig into all the details and make sure you’re comfortable.
A home inspector will help you to learn more about the home you are purchasing.
An appraiser. engaged by your lender, will evaluate the home to determine a pricing opinion.
Your lender will review all of your financial documents once more and ensure everything is in order.
At closing, you will sign all of the real estate and lending documents, deliver your down payment and receive keys.
Most loans today require a down payment of between 3.5% and 25.0% depending on the type and terms of the loan, though it is more common to see 10%, 20%, and 25% in our communities. A local lender can be very help as they can help you understand the unique market nuances and ensure accurate disclosure of settlement costs. Not only do you have to be approved for a loan, but so does the property.
Mountain properties come with their own unique set of characteristics and its important to work with an expert who can guide you through these. You will have questions as you learn about wells, septic systems, radon, surveys, wetlands, elevation, snow load, dirt roads, plowing, internet access, and different types of roofing, heating and cooling systems (or sometimes a lack there of). We are here to answer all of these and more!
Many people imagine HOAs to be controlling boards who make the lives of homeowners miserable, but that couldn’t be further from the truth! In our area, where there are a lot of condo complexes, HOAs can be a great option.
When buying a mountain home, you may want to rent your home out from time to time. It is vital to know your jurisdiction, what types of rentals are allowed, and what the HOA rules are surrounding rentals. We can help with all of this and help you understand what to expect when it comes to revenue, fees, etc. We want to help ensure your investment will meet your expectations
One of the first questions Buyers often ask is, “Is now a good time to buy in the mountains?”
There are many factors to consider when answering:
Prices in our mountain market tend to trend upward. We really don’t see home values go down, though we do see cyclical normalizing where homes that were overpriced for the market will drop down to meet it. Properties tend to appreciate at a rate of about 5-10% year over year in our mountain communities.The upward trends are driven by low inventory, and the fact that we are landlocked without room to expand and build more. Most of the beautiful terrain you see that is untouched is owned by the Forest Service or other entity and is not public/not for sale. Limited inventory combined with high demand to live the mountain lifestyle continues to push home values up year after year.
The world of lending is always evolving, and ebbs and flows with the changes in the global economy. Interest rates have been on the rise since the first quarter of 2022 and there have been other big changes in the world of second home and high balance loan lending like higher up-front costs and down payment requirements.
The past few years have been characterized by a ton of interest in our resort mountain properties, coupled with very limited supply. Buyer interest remains strong, but, for many, there is no longer a sense of urgency. The mountain lifestyle is unparalleled, and the draw to live here continues to push up the number of sales.
The stock market has had a lot of fluctuations and many would consider it to be underperforming. Many people seek real estate as an alternative investment as it not only consistently outperforms the stock market, but also allows you to use and enjoy the property you buy.
The increase in restrictions on short term rentals (STRs) in some areas and the uncertainty regarding future restrictions of STRs in other areas has many buyers are watching the market carefully.
Our market has a summer seasonality to it meaning that we tend to have more listings and more sales throughout the summer. Historically, summer is when buyers have more to choose from but there is also a lot of buyer interest during that time. Buyers can still find wonderful properties in the winter but they might need to be a bit more patient.
By clicking “Submit” you agree to receive marketing calls, text messages and/or emails from The Skinner Team regarding the potential purchase, sale or lease of real estate at the phone number and/or email provided, including by using automated technology, and understand that this consent is only for brokers or staff associated with The Skinner Team and no other companies.
Disclaimer:Â All information contained in this web site is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal notice. COMtnRealty.com believes all information to be correct but assumes no legal responsibility for accuracy.
This will close in 0 seconds
