Peakonehomes Weblog For Summit County Colorado Real Estate

Real Estate Activity in Summit County Colorado!

peakonehomes — Tue, 24 Mar 2009 20:05:28 +0000

Yes, the real estate activity in Summit County is picking up. There are currently 170 properties under contract in Summit County, 50 of those were put under contract from mid February 2009 to now. That’s an average of more than 1 per day. Currently we have about 1700 active listings in our inventory. This includes Single family homes, Duplexes, Town homes, and condos. These reports are from all of the major areas in Summit County and were taken from our MLS. Breckenridge, Frisco, Copper Mountain, Dillon , Keystone , and Silverthorne Colorado. Once your season ends mid April, I expect we will see even more. If you are looking in the Summit County area for real estate now is the time to find what you are looking for. With our lowest price at 124k for a studio in Dillon, finding a home that is affordable is very realistic. I look forward to a great turn around year and I hope to hear from you and your Summit County real estate needs.

Thanks
From Matt cheek
www.peakonehomes.com

Excellent day at Vail

peakonehomes — Sat, 31 Jan 2009 22:27:29 +0000

I had an excellent day at Vail on Friday. The skiing at Vail was some of the best I have had this year. Spring day and powder, you cant bet it. As I left I thought about how much cheaper it is to own in Frisco Colorado which is only 17 minuets away from Vail. Just as long as you can stay away from the weekends the crowds are small at Vail. Sorry about the photo, it was take on my blackberry. If you ever need any Summit County Real Estate advise please visit my site at www.peakonehomes.com

Thanks Matt Cheek From Peak One Homes

A Taste of Spring in the Summit County Colorado real estate market

peakonehomes — Mon, 19 Jan 2009 21:09:43 +0000

We have had a great three days of warmth in Summit County Colorado. I have been out enjoying the spring skiing. The snow is great and we have plenty more to come. Tomorrow comes the historic day of our new president. I look forward to the future of Summit County Real Estate. We have had 22 listing go under contract as of the beginning of the year. I expect by the end of 2009 we will be back to our normal flow. Please visit www.peakonehomes.com for further real estate information. Just a quick thought for the day.

Thanks Matt Cheek from Peak One Homes

Summit County Real Estate Prices

peakonehomes — Mon, 15 Dec 2008 23:27:30 +0000

FRISCO, CO – A lot of our buyers are asking when the Summit County Real Estate market is going to tank so that they can get their dream mountain home for an unreasonably low price. The essential problem with that strategy (waiting for the bottom to fall out) is that if the real estate prices in Summit County were to drop suddenly and uncontrollably the property that you buy becomes less and less valuable as time passes. Raise your hand if you would like to buy a home in a plummeting market.

The fact remains that Summit County property holders are some of the most highly educated people in Colorado on average. They also tend to be some of the most financially stable. At Peak One Homes we have been advising our listing clients to take their homes off of the market if they truely don’t need to sell. Sorry Buyers. They see that supply and demand are the driving force behind our property values.

The good news for buyers in this market is that you can rest assured that your property values will be stable after you buy. Our current real estate market offers some great deals to buyers, and if the market stays in a plateau like pattern then our real estate recovery will be very positive.

As a buyer, don’t be discouraged by the lack of decline. Just know that you are focused on one of the healthiest economies in America’s heartland.

Fractional Real Estate – An asset class not timeshare

peakonehomes — Fri, 05 Dec 2008 17:39:29 +0000

SUMMIT COUNTY, COLORADO – Fractional ownership is probably the least understood asset class, and for some people provides the greatest return on their initial investment. When talking about fractional real estate in particular most people, even brokers, refer to it as ‘timeshare’. This is not the case and should not be treated as such.

Though timeshare does involve splitting the use of the asset between several individuals, the use of the asset is the only thing that is conveyed. The building, plane, or limosene is still owned by the company selling the service or use. One might even think of it as a ‘luxury club’ in which individuals are not directly responsible for the maintenance, financing, or taxes involved in direct ownership. When a person or entity purchases a fractionalized share of an asset the ownership is directly conveyed to the party.

The best example of this is in the case of real estate. Because a deed is recorded with the county assessor’s office, it is very clear that ownership in the property has been conveyed, and the responsibility for upkeep and taxes lie directly on the shoulders of the party making the purchase.

There are many reasons people choose fractional ownership over timeshare, and vise versa. With time shared assets the individual may have a need but do not require a long term commitment. Purchasers of timeshare often want to have a trial period to figure out if they are going to use their asset enough to justify the full investment. often with timeshares there is no appreciation.

A fractional asset has most of the benefits of owning a timeshare, with the exception that the asset can return a portion of their investment back to them upon resale. In the case of fractional resort real estate, the asset more often appreciates giving the owner a measurable return on their investment. With fractional real estate the asset can be leveraged and leins can be placed on the property in the same way one would leverage a whole ownership property. Please take some time to view the many fractional properties for sale in summit county at:

Luxury Fractional Real Estate – Summit, Colorado

Deals in the Summit County Real Estate market

peakonehomes — Tue, 18 Nov 2008 20:01:20 +0000

Peak One Homes just closed on a 2 bedroom 2 bath condo that was bought for 195K last year and just sold for 188k. This was a great deal. My client only put 10% down and got a 30 year fix loan under 6% interest. If there is ever a time to Buy, there is no time like the present. These Summit County Real deals will not last. I believe 2009 will be a turning point for the Summit County Real Estate market. There are many Sellers that are at a “need to sell point”. Sellers are ready to look at any offers. So for those that are ready please give me a call. Please don’t forget to check out our site for a list of the “good deals” in the county.

From The Peak One Homes Team

www.peakonehomes.com

Buyers Be Aware! Breckenridge Real Estate Deals

peakonehomes — Mon, 17 Nov 2008 06:19:18 +0000

Buyers interested in purchasing Breckenridge, CO real estate are finding themselves with an abundance of options that could result in some very favorable appreciation in the near term. Though the stregnth of our market is the steadfast nature of the seller and their unwillingness to yeild on their list price, they have found that the buyers are increasingly more conservative as we move towards the middle of the recession of 2008. Despite this difficult situation we face in the real estate market Breckenridge represents a market that appears to be both HOT AND COOL.

Breckenridge has more properties for sale per available units than any other market in Summit County. This means that out of the almost 7700 residential units in Breckenridge, CO there are 745 units for sale. Compare that to the Frisco market where of the 3450 residential units there are only 137 properties listed for sale. Percentage wise, Breck properties for sale account for 9.6% of the total units where Frisco’s units for sale only represents about 4% of the total units available. This fact should suggest that the Breck market has cooled off considerably. However, the pending home sales tell a very different story.

There are currently 139 units under contract in Breckenridge (18% of the units for sale). In Frisco there are currently 16 pending units under contract (only 11% of the units for sale). Does this mean that the Breckenridge properties are selling at a faster rate than the Frisco properties. Not necessarily, but it does allude to the fact that there is a lot more competition between sellers in the Breck market. The natural tendency would be to assume that appreciation is alive and well in the Breckenridge market. Though this is probably the case the high level of competition means that there could be some very favorable deals in Breck at this time.

Look for properties in this market that have not been remodelled and have been on the market for more than 180 days. These are the properties where we will find motivated sellers with more incentive to come way down on their list prices. Give us a call and ask the Peak One Homes staff how you can buy a home in the desirable Breckenridge market for less than your neighbor.

www.peakonehomes.com

Summit County Activity Picking up!

peakonehomes — Sun, 09 Nov 2008 20:21:44 +0000

As of today we have had 13 properties go under contract since the election. The properties are scattered throughout Summit County Colorado. The Breckenridge real estate market still remains as having the mojority of listings in the MLS. Our office, here in Frisco Colorado has had great activity this weekend with Buyers coming up to look at property. I do belive that we are going to see a huge increase in activity heading into the end of December. With Keystone Colorado, Breckenridge Colorado, and Copper Mountain Colorado mountains opneing this weekend we look forwad to the coming winter. All we need now is the deeeeeep POWDER!

From The P1H Team—WWW.PEAKONEHOMES.COM

Winter! Winter! In Summit County Real Estate

peakonehomes — Wed, 08 Oct 2008 22:14:51 +0000

So our Fall is slowly coming to an end. We are really looking forward to a deep winter in the Rocky Mountains. We hope to see a lot of powder and a lot of real estate activity. Our biggest sale period was last November and December of 2007. We have a hand full of our Buyers that are going to be visiting Summit County at the beginning of the Ski season to look at Summit County Real Estate, so we will have to see what happens. During the last election year in 2004 we had an average of 300 properties go under contract before the end of the year. We expect the activity in the Summit County real estate market to be hot again at the end on November and into December . Only time will tell, but from what the past 10 years has shown us nothing but good things are to come. Happy Buying and Selling!

From The P1H Team—WWW.PEAKONEHOMES.COM

Lenders – Why Summit County is Different

peakonehomes — Sat, 16 Aug 2008 22:31:48 +0000

FRISCO, CO – In today’s current lending environment you may think that getting a loan for a home is impossible. It turns out that it isn’t. The truth of the matter is that banks have gone back to the good old days of 20% down with verifiable credit and/or assets. So why is it that your real estate broker in Summit County, is asking you not to use your mortgage broker from Texas? He has done three loans for you and they all went smoothly.

The fact is, Summit County is largely a second home and vacation home market. As many as 80% of the homes here are either rented short term, or they sit vacant the majority of the year. When your broker from outside of the county tries to get your deal for a two bedroom condo through underwriting, they have to approve the building (not just the unit) to ensure that they are not financing a “condo-tel”. Unfortunately the vast majority of the condos in Summit resemble some type of “condo-tel”.

A “condo-tel” is a building that functions as a hotel but whose deed has been condominiumized and sold to individual investors that make up the home owners’ association.

Lenders outside of vacation markets don’t like these types of properties. When purchasing a condo in Summit County please take some time to talk to a lender that is accustomed to financing Summit County properties (preferably a lender in Summit County). You may find that the run up to the Loan Conditions Deadline will be a little less stressful.

From The P1H Team—WWW.PEAKONEHOMES.COM