It is important for both buyers and sellers of real estate to understand the importance of an appraisal. Let’s face it, the real estate market has been nothing if not erratic over the last few years and knowing exactly what a home is valued at is trickier than ever. The clear answer to value is that a home is only worth what someone is willing to pay for it, but when you are trying to finance a home the bank will only lend based on what it sees the value of the home being.

Why is it important for sellers to have an appraisal done on their property? An appraisal will let a seller know realistically what he can expect to get for his home.

IS the appraisal always right?  I don’t think so.  The second home resort market seems to be a little more difficult to compare apples to apples.  The past few years, sales have been skewed by short sales and people who may be heading into foreclosure.  If these are the only properties that have sold in a particular neighborhood, then it is hard to get a true comparable if nothing else has sold in the neighborhood.  The banks rely on appraisals, so sometimes it is important to have some backup data to substantiate a higher price if there is a dispute on the appraisal.   If the property doesn’t appraise up to the purchase price, the Buyer and Seller have two choices: one-they can either lower the price to accommodate the appraisal or  two- the Seller may choose to bring money to the table.

Foreclosures and short sales have skewed the comps in many areas, which can make placing an appropriate value difficult. However, preparation is key when trying to sell real estate in today’s market, where knowing what your local fair market value is of the essence. An appraisal helps to avoid the what-ifs and place everyone involved in the real estate transaction exactly where they need to be, in reality.

For more information about property in Summit County, Colorado serving Breckenridge, Frisco, Keystone, Copper Mountain, Silverthorne or Dillon contact Leah Baxter www.leahbaxter.com or 970-389-6367.

 Sourced from: Kinetic Content Library

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

The Snow has arrived in Summit County, Colorado. A-Basin opened two days ago and received 22″ of snow and Loveland opened the day before. Copper Mountain and Keystone are slated to open on November 5, Breckenridge is scheduled to open November 12, and Vail is scheduled to open November 19, 2010. According to the Farmer’s Almanac it is going to be a great year for Snow sports in the high country!
So, are you tired of driving on I-70 in the traffic to go skiing? Interest rates are at an all-time low and Seller’s are ready to sell. If you have been waiting to buy that dream property in the mountains, now is the time! To look at properties available just click on my MLS and you can search for any type of property in Breckenridge, Keystone, Copper, Frisco, Silverthorne or Dillon. Give me a call 970-389-6367. Hope to see you on the slopes!

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

Three years ago, Summit County Sellers had buyers lining up to buy their property.  They were getting top dollar and receiving a nice appreciation.

It isn’t a surprise that it is a  buyer’s market out there which is great news for buyers, not so great for sellers. Sellers are no longer in a position to dictate the rules of the game and have to be careful how they respond and counter to offers, due to the fact that if a buyer doesn’t get his way he might just move on to the next seller, and there are a lot of sellers out there.

Summit County is usually last to feel a recession and last to recover. Interest rates are still very low, and now is the time to get in the market for the buyer.

If you purchased your home in Summit County within the last few years, you should not expect to make any money if you sell today.  This is the type of market we are experiencing. The good news is, if you owned a home in another part of the Country, you would be fortunate if you didn’t have to take a loss on your home.  Also, if you purchased your home within the past 5-10 years, you will most likely be able to experience a return on your investment.  The problem that we see is the Seller’s still want more money back, if this is the case than hold on to your property for a few more years.

There are a few difficult things about being a seller today. A seller doesn’t know how long it will take to sell his home and when he gets a contract he can’t guarantee whether another one will come or not. What this means is that if a seller has to sell his home then he has to be wary of scaring the buyer away.

The inspection is one aspect of a contract where a seller can lose his shirt. If trying to sell your home it is a wise idea to have your home inspected before listing your home. This way you can make the necessary improvements and will avoid being surprised by unexpected requests. Because sellers are not in a position to capitalize on their real estate investment it is more important than ever to be on top of things, in order to retain as much value as possible.

An experienced Realtor is incredibly helpful in maneuvering a tricky real estate market, enabling a seller to evaluate his home, price it appropriately and sell it in a reasonable amount of time. For more information give Leah Baxter a call 970-389-6367 or if you would like a free market analysis leah@leahbaxter.com – www.leahbaxter.com for a list of all the properties available in Summit County.

Sourced from: Kinetic Content Library

"Great home for the first time home Buyer"

If you are thinking about using the extended and expanded home buyer tax credit to purchase a home this year you better act fast.  Now is the perfect time to get a great deal on a home in Summit County or surrounding areas. The tax credit can be used on homes purchased by July 1, 2010, but the homes must be under contract by April 30, 2010. The prices of Single Family homes and other types of properties (i.e. Condo’s, Duplexes, Town homes) have come back down to price points we were seeing in 2006.   You have a little more than a month to locate your new home. Check out the MLS on current listings in Breckenridge, Keystone, Copper Mountain, Frisco, Silverthorne or Dillon.

What does this mean?  The tax credit is for two types of buyers, first time home buyers (home buyers who have not owned a home in the past 3 years) or home owners who have lived in their home for 5 of the past 8 years and want to purchase a new primary residence.
Important aspects of the tax credit include:

• Homes must be closed by July 1, 2010, under contract by April 30, 2010.
• Homes must have a value of $800,000 or less and must be the buyer’s primary residence.
• There are income restrictions, $125,000 for singles, $225,000 for couples.
• The credit is also affected by being single or married. Married couples who file together are entitled for up to $8,000 for a first home buyer, up to $6,500 for current homeowners. Single people are entitled for up to $4,000 for a first time home buyer and $3,250 for a current homeowner.
• The credit will need to be repaid if you sell your home within a time period of 36 months.

Leadville is only 30 minutes to Summit County and there is a perfect 3bd/2ba home for Sale for $230,000.  The Summit Stage runs between Copper Mtn. and Leadville for $5, so you don’t have to even worry about the commute.  What are you waiting for now is the time and it is  running out! Contact Leah Baxter,  or  email leah@leahbaxter.com at ReMax in Frisco  to start looking for your new home if you intend on using the tax credit.

Phone direct-970-389-6367

]]> http://blog.leahbaxter.com/2010/03/30/thinking-about-using-tax-credit-toward-buying-a-home-in-summit-county-colorado-act-fast/feed/ 0 http://blog.leahbaxter.com/2010/02/02/2009-sold-statistics-in-on-properties-in-summit-county-colorado/ http://blog.leahbaxter.com/2010/02/02/2009-sold-statistics-in-on-properties-in-summit-county-colorado/#comments Tue, 02 Feb 2010 23:55:32 +0000 lbaxter http://baxter.realty-buzz.com/?p=141 Continue reading 2009 Sold Statistics in on Properties in Summit County, Colorado]]>

BRECKENRIDGE- The average price of a SF home sold  in Breckenridge was $1.34 million, price per sq. ft. was $327sq ft.  The avg. Sales price for a duplex was $956k  or $325 per sq. ft.. The avg. price of a condo sold was $576k  or $431 per sq. ft.   The avg. price of a Town home was $300k or $409 per sq ft. 

COPPER MOUNTAIN- The average price of  a SF home sold  was $1.5 million or $276 per sq. ft.   The average price of a condo was $504k or $365 per sq. ft. 

FRISCO- The average price of a SF home was $929k or $273 per sq. ft.  The average price of a Duplex was $769k or $248 per sq. ft. The average price of a condo was $448k or $289 a sq. ft.  The average price of a Town home was $1 million or $471 a sq. ft.

KEYSTONE- The average price of  SF home sold was $1.5 million or $352 per sq. ft. The average price for a condo was $500k or $346 per sq. ft.  The avg. price of a Townhome was $1.29 million or $268 per sq. ft. 

SILVERTHORNE/DILLON- The average price of a Single family home sold for $967k or $252 per sq. ft. The average price for a duplex was $638k  or $229 per sq. ft.  The average price of a condo was $332k or $289 per sq. ft.  The average price of a townhouse was $527k or $241 per sq. ft. 
The change of the average sales price from 09 vs 08 are as follows: Breckenridge was -3.2% , Frisco was -5.3%, Copper MT. was +2.8% , Keystone was +5.0% Dillon was -5.1%, Silverthorne and Wildernest were +0.5%.
These statistics were obtained from SAR’s MLS Database.  This information is believed to be accurate, but has not been verified.  Buyers and Sellers are cautioned to verify all information to their own satisfaction. 

If you would like a free Comparable Market Analysis of your property, please email me at leah@leahbaxter.com or call 970-389-6367.

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

Sailing on Lake Dillon

Have you ever been to the mountains in the summertime, such as Breckenridge, Frisco, Silverthorne, Keystone, Copper MT.?  If not, you are missing a hidden secret.  Many people come skiing here in the wintertime and have a wonderful time, yet they have never experienced a Summer here.

There is so much going on every weekend.  Every Friday there is a Farmer’s Market in Dillon, every Wednesday there is one in Frisco.  We have a BBQ challenge next weekend in Frisco, bike races going on.  There is a half marathon and 10k run from Copper-Frisco and beyond.  This weekend is a film festival happening in Breckenridge.  There are music concerts every Sat. night at the Dillon amphitheater that are FREE.  I can go on and on, if you want to find out more information check on my calendar of events on my website www.leahbaxter.com

Also don’t forget all of the free activities, hiking, biking, camping, just kicking back and relaxing and people watching.  If you are thinking about a second home in Summit county check out the MLS for free to see what you might be able to buy, or just give me a call Leah Baxter 970-389-6367.

Have you ever considered Snow shoeing?  It is a great form of exercise and a nice way to take a break from skiing or snowboarding. 

This weekend there are two large events happening in Summit County.  The first one is called the Swift Skedaddle Snowshoe Adventure and is sponsored by the town of Silverthorne.  It consists of a 3K romp and a 10K race.  This event is a United States Snowshoeing Association (USSSA) regional qualifier.  What this means is if you are competitive you may get a chance to compete at a national level.  Now, if you just want to go and have some fun, just do the 3K romp, it is a family friendly event and it will take place at the Raven Golf course.  This event occurs on Sunday, Jan, 2009.

The other event that is happening is also on Sunday and begins at the Gold Run Nordic Center in Breckenridge.  The course goes between Breckenridge and Frisco and follows the Recreation path.  You will have a choice of either snowshoeing or Cross-country skiing. The event is sponsored by Friends of the  Dillon Ranger District.   They encourage everyone to wear costumes and have a good time!  When you reach the finish line they will have prizes, food and beverages.    This event is called Tour of the Summit, it is a snowshoe and x-country fun festival. Should be a lot of fun!