Own a Breckenridge Home for a fraction of the cost

February 5th, 2009 lbaxter Posted in 1/4 shares, Breckenridge, Colorado Mountains, Luxury Real Estate, Uncategorized 5 Comments »

Have you been dreaming about that Mountain home in the heart of Breckenridge, but can’t spend over a million dollars?  Well, I have the solution for you.  You could own this luxury 4 bedroom, 3 bath, fully furnished  3931 square foot home for $425,000.

Yes, it is true, it is called a quarter share ownership property.  The way that this works is you have a deeded 1/4 share and use the property one week a month.  The weeks rotate forward every year, so you will get a holiday week at least every four years,if not, more often.  It is a great way to own property in Breckenridge without robbing the bank. 

This property is a perfect mountain home with all the trimmings, located in Breckenridge and offering million dollar views!  Exquisitely furnished to the last detail to insure you feel completely at ease including your own personal storage spaces.This 25% Fractional Ownership Opportunity is designed for the buyer with discriminating taste that will appreciate this beautiful home .

For more information contact Leah Baxter at 970-389-6367 or email leah@leahbaxter.com.

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FHA loan limits, tax credits in Summit County Colorado

October 4th, 2008 lbaxter Posted in Colorado, Consumer Confidence, FHA, Fannie May, First time Home Buyers, Freddie Mac, Luxury Real Estate, Mortgage industry, Summit County, Summit County Real Estate, Tax Credits, Uncategorized 1 Comment »

 Now is a great time to buy property, especially if you are a first time home homeowner.  The government is actually going to give you a tax credit if this is your first home.

 If you are trying to get a FHA mortgage see below.

This next section is to show you the max loan limit for FHA in Summit County:
  FHA Mortgage maximums as of Friday October 03, 2008 
SILVERTHORNE, CO (MICRO)
43540
 
SUMMIT
117
CO
$729,750
$934,200
$1,129,250
$1,403,400
03/05/2008

 Previously this year the a housing bill was passed that : affects FHA, Fannie and Freddie, tax policy and many changes involving the housing market. Here are the major components:

 1. FHA Changes
 Mortgage limits for high cost areas will be increased to $625,000 on a permanent basis (115% of the current conforming limit). 
The FHA floor will go from 48% to 65% of the current conforming limit. This will put the new permanent floor at $271,000.
 Cash downpayment is set at 3.5%. 
The seller funded downpayment assistance program (DPA) will be terminated on September 30.
 The risk based premium established by HUD last week will be suspended on September 30. The ceiling on upfront premiums will go to 3%. 
2. Fannie and Freddie
 The conforming loan limit will be increased to 115% of area median up to $625,000.
The bill provides for a federal "backstop" for Fannie and Freddie which allows the Treasury to capitalize the companies by taking an equity stake.
 A new regulator with enhanced powers is created.
 The bill creates an affordable housing trust fund paid for by assessments on Fannie and Freddie to help prevent foreclosures and facilitate affordable housing
 
3. FHA Rescue Fund
 The bill creates a special FHA refinance program designed to allow the refinance into fixed rate FHA products of up to $300 billion in distressed mortgages.
 4. Licensing
 Encourages a nation wide licensing and registry system for loan originators by setting minimum qualifications and assigning responsibility to HUD for establishing new rules for those states that do not enact licensing laws.
 5. Redevelopment of Foreclosed Properties

 Provides $4 billion in funds for local governments to purchase and redevelop foreclosed properties.

If you want to know how much a property might be worth, check out my market snapshot.

 

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What is the Market like in Summit County, Colorado?

October 1st, 2008 lbaxter Posted in Aspen, Frisco, Frisco Real Estate, Keystone Real Estate, Keystone property, Luxury Real Estate, Summit County, Summit County Real Estate, Uncategorized, Vail, relocating to Colorado Comments Off

Currently, there are 1648 properties on the market in Summit County.  These include Condos, Town Homes, Duplexes and Single Family homes.  The least expensive property is $114,900 which is a modular home, and the most expensive home is a single family home for $5,995,000 in Breckenridge. 

Summit County is still a bargain for a resort area considering that the highest priced property in Vail is $19,200,000 for a little over 6500 square feet.  The highest priced property in Aspen is $60 million dollars!!!  So don’t wait too long to buy your resort property.  Even though our inventory levels are up, the prices are still steady. What happens now that winter is coming, many homeowners will take their properties off of the market and rent them during the winter and then raise the price next spring.  So if you want to get that special piece of property, don’t wait!  Contact Leah at 970-389-6367 or email me at leah@leahbaxter.com. . 

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Summit County Colorado market still strong!

May 14th, 2008 lbaxter Posted in Breckenridge, Copper Mountain, Frisco, Keystone Real Estate, Luxury Real Estate, Ski in/Ski out properties, Summit County, Summit County Real Estate, Uncategorized, relocating to Colorado Comments Off

Summit County is not experiencing the over abundance in inventory and low sales that the news media is portraying in other parts of the country.  In fact, we currently have $3 million  dollars in pending sales and currently  have inventory levels of 4-5% for sale.    This is normal in comparison to last year at this time.

Summer is just around the corner and that is our busy season here, so if you are thinking of buying, now is a good time. Mortgage rates are at 6% for a fixed 30 year loan. Search the MLS for free.  If you would like help on your property search, please contact Leah Baxter at leah@leahbaxter.com or 970-389-6367 direct.

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Frisco, Colorado and Summit County spring is here!!

April 25th, 2008 lbaxter Posted in Breckenridge, Copper Mountain, Frisco, Frisco Real Estate, Luxury Real Estate, Summit County, Summit County Real Estate, Uncategorized Comments Off

In the quaint mountain town of Frisco, Colorado spring has finally arrived!!!! Frisco is in the center of Summit County and is a wonderful small town with world class restaurants.  The snow if finally melting and I’m sure many of the locals as well as myself are thrilled.  Even though it has been an epic season for skiing and riding and other snow sports, we are definitely ready for biking, hiking, camping, fishing, boating, etc.

On May 17th, the town of Frisco will host the annual town clean up day followed by a BBQ at Walter Byron park.  The Marina Season Opener is scheduled for May 24th at the Frisco Bay.

Frisco is located 1 hr/minutes from the west side of Denver.  It is convenient to Copper Mtn. (5 minutes), Breckenridge, Keystone, Loveland, and 25 minutes to Vail.  It is a charming town with world class restaurants, local shops, bike paths that will take you all over Summit County, and a great marina to go sailing and boating.

If you are interested in property in Frisco, check out this beautiful duplex that has awesome views of Mt. Royal.  For any more property information in Frisco or Summit County please contact  leah@leahbaxter.com  or search the MLS for free on my website www.leahbaxter.com.

 

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What’s in store for Keystone Colorado?

April 24th, 2008 lbaxter Posted in Keystone Real Estate, Luxury Real Estate, Summit County Real Estate Comments Off

Keystone is in the preliminary plans of a huge redevelopment of the Mountain House base area.  The Keystone Citizens League who represent property owners at the resort, is in full support of the plan.The Mountain House base area is the original base area for Keystone, so it is definitely up for redevelopment

The development plans would include total improvement which would cover 88.4 acres. Out of the 88.4 acres 48.4 would be slated for redevelopment and the other 40 acres would be designated for recreational trails, public transit, open space, wetlands and interpretive  facilities.

The area that houses the existing cafeteria, ski school, and ticket offices would  also be redeveloped.  Vail Resorts would be in charge of this redevelopment process.

  Now would be a good time to purchase real estate in Keystone.  If you are looking for a nice large two bedroom property that overlooks the golf course in Keystone, click here.

For more information on properties in Keystone or Summit county please contact leah@leahbaxter.com.  or check out my website www.leahbaxter.com to search the MLS for free.

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Breckenridge Spring Massive Festival

March 31st, 2008 lbaxter Posted in Breckenridge, Colorado, Luxury Real Estate, Music festivals in Spring, Summit County Real Estate, Uncategorized Comments Off

Other major festivals happening in Summit County to celebrate the end of the season are the Breckenridge Spring Massive Festival.  This will occur between April 1-April 20.  There will be live entertainment, FIS ski races, spring shopping sales and much more!

While you are in Breckenridge, why not take a look at some Mountain properties, because summer is right around the corner and if you have not spent summertime in the Rockies, you are missing out!  It is absolutely gorgeous and plenty to do for everyone! 

Give Leah Baxter a call 970-389-6367 or email at leah@leahbaxter.comwww.leahbaxter.com

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Buying in Summit County Colorado

March 29th, 2008 lbaxter Posted in Breckenridge, Colorado, Copper Mountain, Copper Mtn. real estate, Dream mountain home, Frisco Real Estate, Luxury Real Estate, Silverthorne, Summit County, Uncategorized 2 Comments »

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. 

Median Home Price Summary: 2007 vs. 2006

 

 

 

         
Region/County October 2007 October 2006 % Previous Year Change
         
Northeast  $           258,700.00  $     255,400.00 101% 1.29%
Midwest  $           164,000.00  $    166,600.00 98% -1.56%
South  $           171,400.00  $    183,700.00 93% -6.70%
West  $           318,200.00  $    341,000.00 93% -6.69%
Eagle County  $           810,000.00  $     613,500.00 132% 32.03%
Garfield County  $           394,950.00  $     344,500.00 115% 14.64%
Pitkin County  $         3,700,000.00  $   3,500,000.00 106% 5.71%
Routt County  $           660,000.00  $     580,000.00 114% 13.79%
Summit County  $           648,750.00  $     614,450.00 106% 5.58%
U.S.  $           207,800.00  $     218,900.00 95% -5.07%

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.

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Choosing a Builder in Summit County, Colorado

March 4th, 2008 lbaxter Posted in Dream mountain home, Luxury Real Estate, New home construction, Summit County, Summit County Real Estate, Uncategorized Comments Off

Now that you have chosen your land, have done a lot of your preliminary investigation, it is time to choose a builder. 

A lot of people try to do it themselves and save money by not utilizing a builder.  If you have a lot of time, patience and energy to do it yourself, than by all means go for it!  There are a lot of details that you will need to be on top of , and if you don’t have a set group of sub-contractors at your disposal, than your project could end up costing you more money in the long run.  It is hard to find good sub-contractors that are loyal to individuals in Summit County because they are generally busy working loyally for builders.

When you choose a builder make sure they have been in Summit County for a few years  and understand the process here.  Please see the following article on How to Choose a Builder.

For more information contact Leah@leahbaxter.com or www.leahbaxter.com.

 

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Building process in Summit County, Colorado

March 1st, 2008 lbaxter Posted in Dream mountain home, Luxury Real Estate, New home construction, Summit County, Summit County Real Estate Comments Off

Once you have found that special piece of land and you have discovered that it is buildable, now it is time to design the home.  It is best to find the land before you design the home, because than you can take full advantage of views, sunlight,  and the contours of the land.

There are several avenues on designing your home.  One is going on the internet and picking a stock drawing of a home, which is generally inexpensive.  However, beware that when you begin the building process, if there are problems with the design, you don’t really have anyone to come out to the site and fix the design problem.  Also, stock drawings do not necessarily take into consideration the essential elements of utilizing natural sunlight,  views, etc.

This may work alright in a suburb in the city, however, in the mountains, it can get  very cold in the winter, and to conserve  energy, you probably want to get the most out of the sun as much as possible.  Since  69% of our days are sunny, you want to be able to capture that heat from the sun. 

Also, when choosing an architect, it is important to use someone that is local, they have a lot more clout than someone who is out of state, and can be your alloy when you may have obstacles in your way, such as the permitting process.  See the article on Choosing an Architect.

For more information contact Leah Baxter or email at leah@leahbaxter.com

 

 

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