Do you realize how expensive it is to rent in Summit County Colorado? For example, while searching in the Summit County Daily Classifieds for rentals, Frisco‘s average price for a 2bd/1ba condo rents between $1300 to over $2000 a month and typically does not include utilities.  Also, that little four legged friend you love can’t go with you, either.  What does someone do in this situation?  They end up sharing a space with roommates and other pets.  This may be acceptable for a short time, but eventually if you are planning on staying up here for a minimum of 5 years, it would be wise to acquire your own property.

The problem is coming up with the cash for the down payment.  If you get creative, start saving now, or if you have other investments that are just stagnant, maybe you could cash those in for your down payment. Buying a property vs. renting enables you to build equity for your future and have a tax write off.  When you rent, there aren’t any financial benefits to you for your future.

I have met several people who are long term locals that live in Summit county and spend anywhere between $400-$1000 in rent.  I think the biggest fear is the commitment to have a mortgage, they fear of losing their property, but guess what, you have to have a place to live.  Wouldn’t it make sense to own something and have someone pay you to share half the expenses?

If you are a person who travels to Summit County, Breckenridge, Frisco, Keystone, Copper on a regular basis and rent every year, just think what it would take to buy a property and rent it out when you are not using it.  There seems to be several people who look for seasonal rentals every year, this can be quite a profitable business for those who own property.  You not only have a place to stay when you want it, but there are people looking for that place to rent from you.  Wouldn’t it be a better investment to own your own place and be the one in control of renting it, than vice verse?

If you are considering buying at all for investment, recreational use, or a place to live on a full time basis, this is the best time in years to buy that property. Interest rates are low, Sellers are more flexible on their position of selling, and there is a lot of inventory.  Why risk it in the stock market , Summit County is still a strong investment for the future.

For more information on investment properties or an option to buy as opposed to renting please contact Leah Baxter at ReMax Properties of the Summit, 970-389-6367. www.leahbaxter.com or email  leah@leahbaxter.com.

Inventory levels have increased since the winter in Summit County.  The market here is becoming a little more neutral than a full on Seller’s market.  Now is a good time to buy in Summit County because of the choices.  Some properties have been on the market for more than a few months and perhaps the seller may be a little more negotiable than in prior years when there are not a lot of choice. 

Our market has never experienced a bubble like other areas in the nation.  WE have been consistently growing anywhere between 10-25% appreciation a year.  It has stabilized a little this year due to the economist portraying doom and gloom everywhere.  However, we are not experiencing a decline in prices or do we experience foreclosures here.  Generally if a property is going to foreclosure, it is usually sold or rectified before that even happens.

If you are interested in new projects that are in the planning phase, click here.The following are inventory levels in each town which include condos, duplexes, town homes and single family homes:

Frisco-current inventory 110 properties

Copper Mtn. -current inventory 61 properties

Breckenridge-current inventory 653 properties

Wildernest/Silverthorne- 214 properties

Dillon-130 properties

Keystone-142 properties.

Feel free to contact Leah at 970-389-6367 to help you with your property needs.  www.leahbaxter.com

Now is a great time to buy in Summit County .  I know the news media is portraying doom and gloom for the housing market, however, they are basing their information on major cities.  We are not a major city.  We are a resort community.  People love the mountains to relax and play.  Our economy is not based on the national economy.  People choose to come in for fun or because they want to live in the mountains.

Interest rates are low,our prices are not going down, so don’t wait, because we are not in a housing bubble.  Our market continues to be strong and the sales prices continue to rise slowly, but steady. 

Source:  National Association of Realtors via Associated press:msnbc.msn.com & data research Associates. Believed to be accurate but not guaranteed.

Contact Leah Baxter at leah@leahbaxter.com or www.leahbaxter.com for more information on purchasing in summit county.  Search the Summit County MLS  free.

Yes, it is still possible to build that dream mountain home at a ski area.  One of the latest developments is at Copper Mountain.  This development is called Slopeside.

If you are familiar with Copper Mountain, Slopeside is located in Lewis Ranch and is right next to the Union Creek Chairlift.  There are only thirteen large building envelopes, which are all ski in ski out.   These lots are big enough to build a 5,000-8,000 square foot home.  The master planned community has been approved for a future gondola. 

There is an affiliated construction company that will help you build your high-quality home.  One of the home sites has a  beautiful model home that was featured in the Summit County Parade of Homes.  This particular property won several awards on Best Interior Design and Finishes, Best Kitchen, Best overall floor plan, Best interior decorating, and the list goes on. 

Click here for previous article on building.

If you are interested in finding out more about building your luxury ski-in ski out masterpiece, please contact Leah Baxter at Leah@leahbaxter.com or www.leahbaxter.com.