It’s fall in Summit County, but what is this snow about?
We did have a cold spell this week and received a light dusting of snow, meaning that Ski Season is right around the corner.
Have you picked up your ski pass yet? Don’t worry there is still time. Did you know you can get a ski pass for as little as $399 for the season?? Yes it is true. If you have never had a season pass, the first time you get one you do need to go in person to the designated areas and get your picture taken, then every year after that it can be renewed online. For Vail ski resorts ticket sales, or Copper Mtn. click on the links. 
What is one to do if you live out of state? Well, I think it is definitely worth your while to make a trip out and take care of it, especially if you plan on just spending one week or more here during the ski season. Think about it, it would cost you $80-$90 a day if you walked up to the ticket window.
While you are at it, come and enjoy the beautiful fall we are experiencing. Yes, it has stopped snowing and the sun is back and we are expected to get up to 70 degrees by Monday.
If you are really motivated and are still considering that dream mountain property, there are still some great investments out there folks. We currently have 1932 properties available from a studio condo to a $8 million dollar compound. Contact Leah Baxter at 970-389-6367 or visit my website www.leahbaxter.com to search for properties.
“It’s a beautiful Day in Paradise!”

Copper Mtn. September 22, 2009

Bike Path in Frisco with the Fall Colors in Full Force

Why does the News media always portray such doom and gloom, because that is what sells News.  You can’t always believe what you read, in fact when the Press is analyzing the housing market, they are just talking in generalizations and are not specialists in every market.

It’s important to understand that Summit County has been one of the hottest real estate markets in the country…with continued increases in value averaging in the 10-20% range year after year. But unlike the rest of the country, the foreclosure rate is remaining low (the lowest in Colorado) and selling prices have not declined.

There was a correction in the market in 2008 on  listing prices.  These prices  declined last year because early in the year (when people generally list properties…and prior to the credit crunch), people were still listing their properties based on the 10%-20% annual increases they had seen over the previous 5+ years. When the properties didn’t sell, people either pulled the listings or lowered the prices to the 2007 levels.

We have definitely moved from a sellers market to a neutral market…or even perhaps one that is slightly favoring the buyer…but we are not seeing the foreclosures like the rest of the country and we’re not seeing the huge discounts and/or price reductions as people sell to avoid foreclosure.

If you keep waiting until you think prices are going to drop further, you may regret your decision.  Interest rates are at an all time low, and there are some great properties out there to choose from.  Please feel free to search the MLS and my website.  Leah Baxter can be contacted at 970-389-6367 or leah@leahbaxter.com

You may think I am crazy suggesting that it is a great time to buy, but think about it?

The interest rates are at an all time low, under 5.5 %.  There are a lot more choices to look at in our market.  Our prices aren’t really going down, they are staying flat (reflecting last year prices).  However, they are not decreasing like a lot of areas in the country. 

If you buy that second or first home here in the mountains, chances are your values will not drop, but increase down the road.  This is historically true for the resort industry.  When consumer confidence rises, so do our prices.  People are panicking now and feel lucky if they sell.  It would be a much better investment than the stock market or 401K. 

If you have children and are thinking about sending them to college some day, why not buy a mountain condo that you can use, rent out and than sell in 10 years and use that money for college for your children. 

If I would have bought Real Estate with my 401K money instead of investing it, I would have tripled it within the past 10 years, instead of losing half of it, and waiting until the market comes back. 

 There is a great article in the New York Times that discusses why now is a great time to buy.  So what are you waiting for?  Give me a call 970-389-6367 or email me leah@leahbaxter.com.  I’m sure I could find you something that you would love and enjoy!

www.leahbaxter.com -To search for properties.

Did you know that Copper Mountain’s Super Pipe was the first to open in the country this season?  In fact, it is the 4th season in a row that they have been the first to open. 

This Thurs-Saturday the U.S. Snowboarding Grand Prix will be hosted at Copper.  Here is the schedule Thursday, Dec. 11
10:30 a.m. – Women’s Halfpipe Qualifiers

Friday, Dec.12
9 a.m.- Men’s Halfpipe Qualifiers

Saturday, Dec. 13
11 a.m. – Halfpipe Finals
7 p.m. – Paul Mitchell Progression Session (night exhibition event)

This is going to be a very exciting competition with athletes from all over the world.  It is supposedly going to be of Olympic caliber.  Come on out and cheer on the U.S. Team. This competition is going to be very competitive.

These athletes  are just a few names  of several of the famous competitors that will be competing – Mason Aquirre, Tommy Czeschin, Steve Fisher, Scott Lago, Gretchen Blieler, Hannah Teter . 

The snow is great at Copper right now and we are expecting a major storm today!  Hope to see you at the games.

Remember if you are in looking for that piece of property to call your own, give me a call 970-389-6367 or email me leah@leahbaxter.com.  Also don’t forget to check out my website www.leahbaxter.com to view all properties in Summit County, Colorado!

Bad weather and holiday crowds created the perfect storm of awful traffic Sunday. Here, cars try to merge onto a packed I-70 in Silverthorne. Special to the Summit Daily/Thomas Zieba

Winter has officially arrived in Summit County Colorado this past Saturday and Sunday.   It turned out to be quite the adventure on I-70, especially on Sunday, the end of a Holiday weekend.

I don’t understand why people don’t plan on spending the night on Sunday or leave a day earlier, or plan to come a day earlier.  Why not take that extra vacation day and save your sanity and be safe?  Why not plan to leave on Monday morning early?  I realize people have to work on Monday or go to school, but it is only an hour drive to the West side of Denver when there is no traffic or weather.  Combine traffic, weather, and a Holiday and it spells wasted time on I-70.  Now you are talking a 5-7 hour drive to get back to Denver.    Even if it doesn’t snow, just plan on spending the night or leave at 8am on Sunday.    A regular commute back to Denver on a  Sunday night could take you 2-4 hours without any weather related problems or a Holiday. The reason traffic is so congested is that everyone leaves the various ski areas at the same time, Vail, Breckenridge, Keystone, Copper Mtn. Loveland, Winter Park.  All of these ski areas funnel into I-70.

I-70 did end up closing until 10pm on Sunday night and several of the stranded motorist ended up camping out at the Silverthorne Rec center, which seems to be acting as a Holiday Inn more times that it should. 

 We had quite a winter last year, and even though it seems to be clear in Denver, it is another story in the mountains once the weather moves in.  Combine that with people that have front-wheel drive cars or who have never driven in snow and you end up with multiple accidents.  I don’t know about you, but I sure don’t like to end up in traffic for hours on end after a wonderful weekend in the mountains. 

 I did end up driving to Denver on Monday morning for some appointments and it only took me 1 hr 30 min. This was with snow packed roads and some traffic . So what is the solution?  Why not purchase that mountain condo as an investment, or a rental and a place your family can enjoy.  It will be a better investment than the stock market.  Our prices are stable right now.  Rest assured you won’t be one of the thousands of stranded motorist on I-70. 

 The interest rates are below 6% now.  Why not enjoy life, come to the mountains and have fun, and relax!  Check out my website www.leahbaxter.com or call me 970-389-6367.

Even though the rest of the country seems to be in Foreclosure mode, it is not true in the resort areas.  Everyone wants a deal, but noone wants to pay market value right now.  So what is the solution? 

Have you considered a quarter share or a 1/10 of a share.  This is not a time share, you actually own a deeded share  buyers experience all the joys and rewards of owning a second home property but at a fraction of the normal cost and with few of the normal concerns.

For example you could own a 1 bedroom condo 1/4 share in River Run for $89,000.  This will give you the use of it it for 1 week a month.  For more information on quarter shares, 1/10 shares please call Leah Baxter at 970-389-6367 or leah@leahbaxter.com.  Feel free to see current listings at www.leahbaxter.com.

The new gondola is scheduled to open on November 7, just around the corner. This gondola runs from the River Run base area and it is supposed to double the uphill capacity, which is quite impressive, since it seemed to get people up the mountain rather quickly before.

Some of the future plans for Keystone are adding a new lift from the Ski Tip area up to the east side of the mountain. There are currently cat-skiing operations in the Bergmann and Independence Bowls and this is going to be replaced with some new lifts. I’m not sure if that is a good thing, for the powder adventurist.

The Wayback chair is scheduled to be replaced and new trails are going to be formed on the front side, North Peak and the Outback.

Keystone is a great family friendly mountain as well as some extreme skiing in the outback areas. It is scheduled to open on November 7, weather permitting. We are expecting a snowstorm today!  The  Market snapshot will give you information on current market trends, current up to the date MLS listings in Summit County, including Keystone, Breckenridge, Copper, Dillon, Silverthorne and Frisco . Call Leah at 970-389-6367 or visit my website leahbaxter.com.

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. . 

I’m sure we have all heard about the banking crisis and the mortgage industry falling apart across the nation.  Well,  this is not true in every case.  If a bank caters to the local area and doesn’t get extravagant with their lending practices they wouldn’t be in the trouble that they are in currently.  Believe it or not, there still are banks out there that are doing just fine, and they cater to the local area which is very important when looking for a lender. 

Why go to Texas and get a loan for a property up in the mountains in Colorado.  The reason you should not do this is they do not know our market, they may require flood insurance, even if you are not in a flood plain.  They may use their own appraisers vs. local appraisers who know the market.  Then your loan ends up falling apart and you end up with nothing.  There is a great article in the Denver Post that talks about First Bank. This is a good example of good banking practices.