If you have been considering making changes to your home you may want to remember that when it comes to home tax credits the end of the year is almost here. The past few years have included a variety of energy tax credits for the home, credits that have reduced this year compared to last year, but a credit is a credit nonetheless.

Here is a sampling of what warrants a tax credit in 2011:

• Biomass stoves
• HVAC systems
• Water heaters (non-solar)
• Roof replacement
• Insulation
• Windows, doors, and skylights
• Storm windows and doors

The above items are capped at $500, and any credits taken in previous years count against the credit. Some home improvements actually cap out at $300. The amount of credit went down significantly from 2010 to 2011, who knows what will be offered next year. In today’s economy every penny counts, and if replacing a door can offer a credit come April it may be better to replace it now than next year when a credit could be less or non-existent.

Click here to visit the Energy Star website, which can help you understand how to apply for the credit and give you a full rundown of what the amount of credit can be for each home improvement item.

 Sourced from: Kinetic Content Library

You may not have heard of this area called Southside Estates in Breckenridge, Colorado.  Southside Estates is a very private area located within walking distance to downtown Breckenridge.  Only 6 homes may be built in this exclusive area each with a 4 acre parcel.   This home is located at the end of a cul-de-sac on Southside Dr. This home is one of the most beautiful luxury homes close to Breckenridge and very private.  You can walk to town from here, yet you feel like you are on your own private mountain.

This home features vaulted ceilings, an outside climbing wall, and an outside fire pit alongside your own private waterfall.  If you enjoy tuning your own skis or boards this home provides you with a private ski-tuning room.  For the artist, this home features a private art studio, which could be converted into an office or another bedroom.  The wine connoisseur will be enthralled by the amazing wine cellar. To keep in shape when you are not participating in the beautiful outdoors, you can enjoy working out in your own private exercise room that features state of the art equipment.

This home is 6863 square feet.  In addition to the other areas in this home, there are two living areas, five bedrooms and five baths. There is expansive custom rock-work throughout the home, as well as a large entertaining kitchen.  The custom finishes in this home are exquisite!  I have previewed several million dollar homes in Summit County,  and typically they begin to resemble each other.  This home, on the other hand, is one of the most unique and beautiful custom homes I have seen.  The property was originally listed at $3.45 million and is now priced at $2.9 million. If you want luxury, privacy, yet within walking distance to town, you must see this property.

Contact Leah Baxter, ReMax Properties of the Summit at 970-389-6367 or leah@leahbaxter.com.

This seems to be the popular question.  Our market is staying pretty strong.  We typically only have about 3 properties on average that actually go to foreclosure at the courthouse in Breckenridge.  The properties that end up in Foreclosure usually are purchased back from the banks.

Click here for the  latest update for Summit County.

Throughout Summit County, the average sold price is approximately 5% lower than last year at this time.  The properties that are under contract is up 5% throughout Summit County, so properties are selling.  The properties that have sold year to date are up 14% from last year at this time.

All indicators are predicting the market to begin to stabilize.  Interest rates are still extremely low 3-5%.  Prices have come down, so if you are thinking about buying, it is a great time to do so.  There are some great deals, however, keep in mind that the good deals get snatched up rather quickly.  So it is best to be pre-qualified and be in the position to react rapidly if you do want the best deal.

Contact Leah Baxter at ReMax Properties of the Summit for more information 970-389-6367.

Is your home ready to sell or do you need to do some repairs?  How’s the roof, the windows, carpet, etc.  This can be quite a challenge for people who just don’t have the money to put the cost into these repairs, and who need to sell.  Quite the dilemma.  This does effect the price that you will get for your home, however, there is still hope.

In Summit County, there are a lot of contractors and handyman available to do the work, but how do you pay them?  One possibility is that if you meet certain income requirements there could be programs available that provide free or low-cost home repairs. It may be worth your while to check with the Summit County housing authority to see if they have any programs that may assist you with this, or they might be able to point you in the right direction.  Another option is to approach a contractor and see if they are willing to do it at cost or for free in exchange for a legal document promising to pay when your home sells .  Other options are to negotiate trades, for example, if you own your own business or have a niche on something you do, offer do do a trade.  This seems to be quite popular in Summit County.

When your home is repaired and ready to sell, you will get a much better price and it will be more desirable to Buyers.

It is a good idea to talk to a Realtor and get an idea of what type of price you might get for your property without the repairs vs getting the repairs done.

For more information contact Leah Baxter,CRS,GRI  of The Baxter Mountain Team,  ReMax Properties of the Summit, Frisco, CO.  970-389-6367. leah@leahbaxter.com

 Sourced from: Kinetic Content Library

Summit County  real estate buyers are looking for lifestyle when they are choosing homes and locations. The lifestyle in Summit County is pretty relaxed.  Noone seems to be in a hurry, which is great, you can leave all your cares behind.  There is so much to do in Summit County, bike riding, hiking, fishing, dirt biking, skiing, snowboarding, nordic skiing , sailing, wine tasting, dining, etc.  You get the idea, so what are you waiting for, now is the best time in history to buy that mountain property .  As you may or may not be aware interest rates are extremely low, some under 4%.  Most people are aware of the old adage  ”would’ve,could’ve, should’ve” That time to buy is now!

Summit County Real Estate is quite different than the typical real estate market.  Did you know that 65% of Summit County properties are second homes or investment properties? Since most of these properties are mostly vacation rental properties, the owners are able to generate income to help cover their ownership costs.

Just because a property is for sale doesn’t necessarily mean the owner is desperate to sell. There are several circumstances that may motivate Sellers.  They may be wanting to take advantage of the lower prices and trade up to something bigger, they may want to cash out and move on to other things in their lives, or they may have some pressing financial issues that they need to address.

As a buyer, it’s important to take many aspects of a property into consideration before determining how much to offer. Offering an arbitrary percentage off of the asking price or some specific price per square foot is simple, but can often cause animosity with the seller and can result in an outright rejection of your offer and/or an unwillingness to negotiate with you.

Do your homework…or better yet, have a local Realtor do the homework for you. If you have a solid, fact based rationale for your offer, sellers are much more likely to enter into negotiations based on the facts. Here are some things to consider when determining your offer price:

• Look at all of the comparable sales in the neighborhood and the condition of those properties vs. the property you are considering.
• Compare and adjust for the age and style of the properties…compare apples to apples.
• How is it furnished? Is it up to date or will you have to remodel to get it to the comparable standards
• Is it the highest or lowest priced property in the neighborhood? Based on price per square foot,  is it already a great deal?
• Is it the right location for you?  Remember the old rule of “location, location, location” still holds true.
• Have there been numerous price reductions and is it now priced to sell?
• What is the county assessed value? Are you starting off with immediate gain, loss or are you breaking even?

If this is the right property for you and your family to create many memories in, whether full-time or part-time, then make an offer. Overall today’s home buyer wants to find a home in a location where he can feel a part of the community and take advantage of all that a community has to offer.

The highs and lows of the economy have many people revisiting their priorities. Family and quality of life is skyrocketing to the top of most people’s lists. What is important to you? If you are a homebuyer, this is a great time to sit down and capture your priorities. Sharing your list with a local Realtor can help assure that the homes you look at meet or exceed your criteria.

Sellers of real estate can grab onto the fact that homebuyers are looking for lifestyle and promote those aspects of what their homes have to offer. Emphasizing the lifestyle aspect of your neighborhood and all that it has to offer can open a buyer’s eyes to your unique community.

Click here to read “Homebuyers Make Lifestyle Options Priority” from Realty Times.

Sourced from: Kinetic Content Library

Leah Baxter, Realtor at ReMax Properties of the Summit

Frisco, Co

970-389-6367

leah@leahbaxter.com

www.leahbaxter.com

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.

Spring is in the air, the snow is beginning to melt,  and thoughts of warm sunny days ahead.  So, you might be thinking is it a good time to Sell  in Summit County, Colorado or not?  Well, it depends on what your intentions or motivations are at this point in your life.

Things you should consider before selling-

1.  What year did you purchase your home?  If you purchased after 2006, chances are you are not going to make a profit, you may break even or even take a small loss.  We are in a declining market, so if your intention is to walk away with cash in your pocket, you may want to wait a couple years when prices start to stabilize.

If you are able to wait a couple years, you may want to consider starting that remodel project . Now is the time to get things updated.  When buyer’s see an outdated property, they typically move on or take a wild guess on what it may cost to remodel (which is typically exaggerated).   The majority of  buyers looking  don’t want to put in the sweat equity needed to update a property, especially if they can go down the street and find a turn key property similar to your property. If you spend the time now and do the upgrades needed, then, when it is time to sell, you will be in a much better position and get the best price for your property.

The interest rates are predicted to increase in the near future which will impact everyone.   Although prices may be declining, if interest rates rise, buyer’s who finance will pay more for a property that has been reduced in the future.  For example , in 2011 a property is listed for $400,000 with a 4.5% interest rate.  In 2012 that same property is now listed at $375,000 with a 6.0% interest rate.   The monthly payment for the $400,00 property is $1621.40 and the monthly payment for the same property listed at $375,000 would be $1798.65, a difference of $177.25 per month.   Which brings me to the next point, are you priced to sell?

2.  What happens if I can’t wait and need to sell now, but don’t have much equity left in my house?  Well, you need to think about being very realistic about the price.  Since price seems to be dictating the homes that are selling, you want to be the best priced in your neighborhood and have it priced to sell.

3.  What should I do to get ready for listing my property to make it stand out and be appealing?  Have all your ducks in a row, first thing is you should have an inspection up front, this is pretty critical since a lot of transactions fall apart during this phase in the  contract.  The buyer is in the driver’s seat and may want you to fix everything on their list (even if it is minor).  This can become  an emotional roller coaster for both the buyer and the seller.  Since the Buyer is in the driver seat, they can easily walk away at this point in the transaction  if they are not satisfied with their inspection requests.

An inspection addresses  items that need to repaired.   Also, get your roof , furnace and water  heater inspected, since this can be a critical breaking point in a transaction as well.  When you have addressed all of these issues, make sure you have copies of the reports and repairs readily available, since, the buyer is going to want to verify this.

After you have done your inspection and addressed any issues, then clean up all your clutter, imagine that you are moving, and put the clutter away,  or better yet donate it.   To open up the rooms, remove excessive furniture and store it somewhere out of sight.  Clean your carpets and possibly consider a fresh coat of paint on the walls.  Once you have everything order, than you are ready to sell.

The first week that your property is listed is very critical, since this draws everyone out to see the new property.  Make sure everything is ready to go, dogs out for walks, work around the children’s schedule so that everyone is out of the house and it is clean and ready to go. Also, timing is everything, contrary to popular belief, spring and summer are the peak times to sell in Summit County, that is when the majority of our buyers look.

For more information on helping you sell your house Leah Baxter can be reached at 970-389-6367 – Email leah @leahbaxter.com, www.leahbaxter.com ReMax Properties of the Summit, Frisco, CO

If you a fan of Copper Mountain., and would like to take advantage of the new beautiful homes that are built right next to the mountain, Lewis Ranch is the place for you.  It is a private small gated community with  19 high end custom homes.  It is actually quite reasonable compared to Vail.  For example, a 7 bed/8 bath home near the ski slopes in Vail will  cost you  $11,900.00 and that is not new construction.  Currently, there is a 7 bed/8 bath home, 5742 square feet available at Lewis Ranch right on the ski slope for $3,495,000.  This is a contemporary designed home that has amazing natural light.  For a virtual tour click on the link above.

Currently at Lewis Ranch,  13 luxury homes and duplexes are on the market.  The duplexes start at $1,590,000 , the duplex that is currently listed at this price is a 4 bed/4 bath 3,336 square foot custom built home, and of course, right on the slopes.  So if you are looking for a private secluded exclusive community, Lewis Ranch is it!  For more information on these properties or any other properties in Summit County, contact Leah Baxter 970-389-6367.

The current super low mortgage rates have many people wondering whether or not now is the time to refinance and if you are in good shape there, now is a great time to get into the Resort Market in Summit County, Colorado. For 23 weeks rates have been under 5%, last week headlines touted that the average rate for a 30 year fixed rate mortgage was 4.19%, the lowest recorded since mortgage rates began being recorded. With such history how could now not be the time to refinance? Oddly enough, now might not be the right time for you.

Here are some things to keep in mind to determine whether refinancing is right for you:

• Do you have equity in your home? If you are underwater on your mortgage you will have a hard time refinancing.
• Costs of refinancing. How much is it going to cost to refinance and how many months will it take to recoup the cost? Will you be in your home that long?
• Taxes. Mortgage insurance is a write-off come tax time. Is lowering the interest in your best interest?

These are just a few points to think about when considering refinancing your real estate. If you have plenty of equity, good credit and overall financial stability this could be the best time. There are a lot of things to think about when refinancing, for example, if you have less than 20% equity you will have to have prime mortgage insurance (PMI) which will add to your monthly costs. Take time to evaluate your financial and real estate picture. The historically low rates are eye-catching and are great for buying a home but they may not be ideal for refinancing your home.

Now is a great time to buy that second home, prices have come down in Breckenridge, Frisco, and several of the other Mountain towns in Summit County. So if you are ready to buy your Mountain Property, contact Leah Baxter www.leahbaxter.com or leah@leahbaxter.com

 Sourced from: Kinetic Content Library

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