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

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!

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.

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.

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. . 

Even though the calendar says April, in Summit County it is more like the middle of winter.

Skiing and riding are still fantastic, I skied in a foot of powder on Monday.  April is a great time to come out to Summit County.  The restaurants are having specials, ski areas have discounted lift tickets if you buy on-line.  You can also get reduced lodging specials.

It is snowing again today. This weekend there is a great  fun race fundraiser at A-Basin.  Registration is at 7:AM and there will be great prizes for everyone.  It is supposed to be a warm weekend. 

APRIL 3, 2008