Did you know that according to the latest 2010 Census Bureau statistics, the population in Frisco is currently 2612. The population in Summit County is currently 27,239. The towns that comprise Summit County, Colorado consist of Breckenridge, Dillon, Keystone, Silverthorne, Copper Mountain .
There are approximately 3023 housing units, which include single family, duplex’s, town-homes, condos, and mobile homes. Out of the 3023 properties, only 972 are occupied, which means that 68% of our properties are not owner occupied. A majority of the these homes are owned by Second homeowners from all over the country.

The median household income for Frisco is $78,512, (the US is $62,363). One may think that property values are moderate, however, it is quite the contrary. The median value of a home in Frisco is $504,200 compared to the median value of a home in the U.S., which is $185, 400.
Our home values are 2.7 times higher than the national median value of a home.
The good news is our property values have not dropped. They have increased over the past 10 years and are remaining stable right now. For example, the median price of a home in Frisco in 2000 was $298,800. In a span of 10 years that is over a $200,000 gain. Have your stocks and other investments produced that? Now is a great time to buy, interest rates are low, prices have come down to 2005-2006 price points, and a lot of Seller’s are motivated! The following statistics are taken from the actual data of the Census Bureau 2010

OCCUPIED HOUSING UNIT CHARACTERISTICS: In 2005-2009, Frisco town had 970 occupied housing units – 610 (63 percent) owner occupied and 360 (37 percent) renter occupied. One percent of the households did not have telephone service and less than 0.5 percent of the households did not have access to a car, truck, or van for private use. Multi Vehicle households were not rare. Fifty-seven percent had two vehicles and another 22 percent had three or more.
HOUSING CHARACTERISTICS: In 2005-2009, Frisco town had a total of 3,000 housing units, 68 percent of which were second homeowners. Of the total housing units, 42 percent was in single-unit structures, 57 percent was in multi-unit structures, and 1 percent was mobile homes. Forty percent of the housing units were built since 1990.

The Types of Housing Units in Frisco town, Colorado in 2005-2009
Single-unit structures 42%
In multi-unit structures 57%
Mobile homes 1%
OCCUPIED HOUSING UNIT CHARACTERISTICS: In 2005-2009, Frisco town had 970 occupied housing units – 610 (63 percent) owner occupied and 360 (37 percent) renter occupied. One percent of the households did not have telephone service and less than 0.5 percent of the households did not have access to a car, truck, or van for private use. Multi Vehicle households were not rare. Fifty-seven percent had two vehicles and another 22 percent had three or more.

HOUSING COSTS: The median monthly housing costs for mortgaged owners was $1,777, nonmortgaged owners $550, and renters $1,361. Thirty-seven percent of owners with mortgages, less than 0.5 percent of owners without mortgages, and 35 percent of renters in Frisco town spent 30 percent or more of household income on housing.

Occupants with a Housing Cost Burden in Frisco town, Colorado in 2005-2009
Owners with mortgage 37%
Owners without mortgage 0%
Renters 35%

Percent paying 30 percent or more of income for housing
Source: American Community Survey, 2005-2009

COSTS: The median monthly housing costs for mortgaged owners was $1,777, nonmortgaged owners $550, and renters $1,361. Thirty-seven percent of owners with mortgages, less than 0.5 percent of owners without mortgages, and 35 percent of renters in Frisco town spent 30 percent or more of household income on housing.

Occupants with a Housing Cost Burden in Frisco town, Colorado in 2005-2009
Owners with mortgage 37%
Owners without mortgage 0%
Renters 35%

Percent paying 30 percent or more of income for housing
Source: American Community Survey, 2005-2009

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.

Are you looking for a way to beat the heat!  Come to Summit County, Colorado!  The weather is perfect in the 70′s and sunny during the day and 50′s at night, great sleeping weather.

There is so much to do in the summer time in Summit county.  This weekend is the Dillon Mountain Arts Festival gong on today through Sunday. Also enjoy the Farmer’s markets in Dillon and Frisco going on every Friday from AM-PM.  On Saturday night there is a free concert at the Dillon Amphitheater and fireworks to celebrate Dillon’s 125th anniversary.

Now is a great time to look at properties, Saturday we are having an open house tour and the featured property I am having is in Keystone with views of the golf course. For more information contact Leah at leah@leahbaxter.com or visit my website www.leahbaxter.com to find out what is happening this summer.

Inventory levels are rising in Summit County, Colorado.  Although prices remain steady, we have been noticing about 40% of properties reducing their prices to accomodate the market.

If you are looking for a high end luxury home in Breckenridge, now is the time to buy.  in The Highlands at Breckenridge which is a golf course community located at the Jack Nicklaus Signature Golf Course in Breckenridge, Colorado have a very high inventory level with 62 properties on the market, which is  5 year supply.  This consists of 62 homes on the market in the `Highlands with prices ranging from $1,049,000-$4,000,000.