Summit County, Colorado

Copper Mountain Sale

2009-11-25T15:49:00.000-07:00

Copper Mountain made news yesterday with its article in the Wall Street Journal on Powdr Corp's plan to purchase the resort before the end of the year. Here is a great opportunity to get into Copper Mountain Real Estate while prices are still low. Wall Street Journal article for more information.

Breckenridge Ski Resort Opens Today!

2009-11-12T10:35:00.000-07:00

Get your snow gear ready for Breckenridge 2009-2010 start. Make your first tracks of the season, on 4 runs including Springmeier, Spruce, Trygve’s and lower Crescendo.

Breckenridge marijuana decriminalization

2009-11-05T10:58:00.000-07:00

Breckenridge made National Headline News Tuesday with the announcement that Breckenridge, Colorado residents voted to decriminalize Marijuana. Unofficial results show 71 percent of voters approved the initiative.

The last time we were really put on "the map" was a few years back with the announcement of the Gondola.

Hope we will keep making news with lots of snow this year!!!

Loveland Ski area opens today!

2009-10-07T12:17:00.000-06:00

Winter play season in Summit County is here! Loveland Ski Area opened today with A-Basin to follow on Friday. Scheduled openings for other local resorts are:

Loveland: Oct. 7

A-Basin: Oct. 9

Keystone: Nov. 6

Copper Mountain: Nov. 6

Breckenridge: Nov. 12

Vail: Nov. 20

Summit County Colorado Weddings

2009-09-19T15:25:00.000-06:00

Summit County is the ideal setting for mountain destination weddings. Summit County offers a spectacular wedding and vacation destination for the couple and a special place for family and friends to enjoy a vacation as well. Plan an outdoor wedding and take advantage of the grandeur of the mountains in any season; The mountains are a perfect backdrop not only in pictures but also in your memories.

A few to check out in Keystone are Timber Ridge, Keystone Ranch, Alpenglow Stube, Ski Tip Lodge and A new wedding venue in Keystone at River Run Village will be ready for 2010 weddings! Keystone is constructing a new permanent 4000 square foot pavilion for weddings and special events. The expected completion is July 2010 and will accommodate up to 300 people.

Some top favorite places in Breckenridge are: Grand Timber Lodge, Beaver Run Resort & Conference Center, BlueSky Breckenridge, Ten Mile station and Maggie Pond.

The Silverthorne Pavilion in Silverthorne, CO is a wonderful central Summit County it’s peaceful setting backs to The Blue River.

Breckenridge Octoberfest

2009-09-19T13:42:00.000-06:00

If you are up in the mountains this weekend, don't forget to check out the festivities of Breckenridge's 15th Annual Octoberfest.

Summit County Sales week

2009-09-18T15:34:00.000-06:00

Residential home sales are picking up in Summit County with 34 residential properties going under contract in the past week. to view: 9/18/09

Where can you get the most for your money in Summit County?

2009-09-12T11:26:00.000-06:00

So we know we are in a buyer's market here in Summit County, but where are the deals within the deals? One area I encourage you to look at is Wildernest. It is a large neighborhood in Summit County just on the outskirts of The Town of Silverthorne. It’s wooded setting sits at the base of Buffalo Mountain known for many awesome hikes. It is right on the The Summit Stage bus route that services the Summit County area, which gives people the opportunity and convenience to access other parts of the county. Wildernest close proximity to I-70 is ideal for those looking for a central “home base” to visit four ski areas in the county, being about 20 minutes from Keystone and Copper Mountain, and 25 minutes from Arapahoe Basin and Breckenridge.

What happend this week in Summit County Real Estate?

2009-09-12T10:51:00.001-06:00

Okay so here is the weekly Summit Real Estate County Scoop. We had 16 sales, average sales price $954,269 with a 93.59% sales price to list price.

Summit County 2009 Parade of Homes

2009-09-06T19:05:00.002-06:00

Plan to come up to Summit County this month and enjoy the Parade of Homes. Dates are September 19, 20, 26 & 27, 2009. Summit County Parade of Homes will showcase over 20 homes, ranging from the $700,000s to over $3 million. Exciting to see on the list are very eco-friendly Green built Colorado homes. Enjoy some spectacular homes with unique accents. Always fun to see Summit County Ski Homes up close and get some great ideas. You can search all Summit County Properties for sale at http://www.skihomes.net/

Tickets are $10

Proceeds go to The Summit Foundation, a non-profit organization helping those in Summit County.

Summit County Bike Path Update

2009-09-06T17:07:00.000-06:00

We are all very excited for the Swan Mountain Rec Path's progress! Phase II began August 10th and is expected to be completed by this November. The ultimate goal is for the path to loop around Lake Dillon and to be complete by Fall of 2010.

Featured Business

2009-09-03T14:39:00.000-06:00

YOUR PUNCH LIST SPECIALIST!
Craig Tolmie, "The Summit Handyman" has lived and worked in Summit County for nearly a decade. Friends, customers and associates all agree that Craig is honest, reliable and hardworking. His craftsmanship and attention to detail is unparalleled. Craig will tackle not only a major remodel but any of those myriad tasks that need to be done to maintain your home.
What We Do
The Summit Handyman provides many services. We do anything from hanging a shelf or flat screen TV, building a new deck, to a complete kitchen or bathroom remodel.

Install Doors & Windows
Trim work
Drywall Repair
Hang Doors
Re-do hardware
Replace Fixtures
Finish Carpentry
Decks
Stairs & Railings
Miscellaneous

(970) 389-8399
There's no need to make multiple calls and set up different appointments for your home maintenance and repair projects. It is as easy as calling or e-mailing us your "To do" list. summithandyman1@comcast.net
www.summithandyman.com
No job is too small...don't hesitate to call...we do it all!!!
We look foward to helping you with your home improvement needs!

Keystone & Breckenridge Ski Pass on Sale this Weekend

2009-09-02T20:03:00.000-06:00

Summit Pass on Sale $399

Colorado Pass on Sale $439

Epic Pass on Sale $599

In the last 2 weeks, over 85 properties went under contract the highest being a list price of $3,695,000
Over 40 properties Sold or Closed the highest $2,650,000
Over 260 total properties are Pending now ~ 110 of those over $1,000,000 - 32 over $2,000,000

Breckenridge Golf Club

2009-08-29T10:37:00.000-06:00

Book These Specials NowBreckenridge Golf ClubPO Box 7965, 200 Clubhouse Drive, Breckenridge, CO 80424www.townofbreckenridge.com970-453-9104

Deal of the week

2009-08-28T12:25:00.000-06:00

Summit County Deal of the WeekBest Priced 1 bedroom in River Run
$249,000.
Just listed today by another office.
Last 1 bedroom sale was at $329,500
Click here to see video of this property

This property has good fundamentals:
Nice amenities, Fireplace, Good location in the building, Big Deck, and
South Facing with Ski Hill Views!

Strong rental income over the past 3 years with good growth.
Details on the Buffalo Lodge 1 Bedroom

Follow this link and create a free account, if you want to search the Summit MLS for Keystone, Breckenridge or other Summit County Real Estate

Stayed tuned next week for 1, 2 and 3 bedroom units that have the potential to cashflow when they are rented out long term with relatively low amounts down. This will include a 2 bedroom Silver Queen that just reduced it's price to $205,000

Deal of the week

Useful Numbers

2009-08-21T14:30:00.001-06:00

Useful Summit County Colorado Information

August Summit Scoop

2009-08-12T14:07:00.000-06:00

August Newsletter:

Well July turned out to be a beautiful month, both for the weather and the fact that real estate activity is still on the rise. We're seeing a lot more real interest from buyers, and sellers are starting to get more motivated as well. As of August 6th there have been 50 properties marked Pending in the last 14 days - 25% more than this time last month and an encouraging statistic. Another tidbit - July had a record high number of cars traveling through the tunnel at over 1.2M, or over 38,000 per day! Summit County remains busy and it is a great buyer's market at the moment, with lots of choices and great deals. Click on link to view remainder of newsletter.
August Scoop

Summit County Build Out

2009-02-15T11:27:00.001-07:00

Yes there are some amazing deals here!!! But what makes Summit County so different? Due to an incredibly small amount of land that can ever be built upon, Summit County enjoys a unique market condition. Over 80% of the land in Summit County is National Forest, Bureau of Land Management land and Colorado public open space (per Summit County). The availability of land left to develop is close to build‐out, especially in key locations. The easiest way to describe this is that Summit County is essentially an island surrounded by an ocean of national forest. This is the major difference between our local market and other metropolitan markets that are currently experiencing severe home value losses.

Breckenridge Art

2009-01-14T09:58:00.000-07:00

Press Release:

Every year in beautiful Breckenridge Colorado artists convert mounds of snow into splendid works of art. From magnificent dragons and eloquent bouquets of flowers to abstract pieces, sculptors form spectacular pieces of art for thousands of viewers to see over a five day period in winter. The snow sculptures for the 2009 event in Breckenridge will be sculpted from January 20th to the 24th, using only the artists' two hands and permitted hand tools.
For the first time ever the art galleries of Breckenridge will be combining to create a Gallery Art Walk. The galleries of Breckenridge will be offering refreshments and hors d'overs from 2:00 P.M. to 8:00 P.M. on Saturday, January 24th, 2009 while visitors can explore the wide variety of wonderful art displayed in the galleries.
Every gallery in Breckenridge has something different to offer. You can view whimsical and humorous art, as well as beautiful displays of local art at Art on a Whim, contemporary fine crafts at Hibberd McGrath Gallery, and the wonders of glass at Fox Ridge Gallery. Spectacular fine art photography is on display at Altitudes. Images of Nature carries the images of Thomas D. Mangelsen's award winning photography. Local artists are in proud display at our local Co-Op gallery, Arts Alive. The newest gallery in town, Teal Gallery, carries a diverse array of exciting modern art. Beautiful custom Colorado jewelry can be found at J&M Jewelers. Vintage Snow features ski antiques, vintage ski art and ski decor. The wonderful Fine Art Photography of Gary Soles and John Fielder is on display at The Photo Shop. Hang Time Gallery is an exciting showcase for western, wildlife and landscape art. You are sure to find works of art that will be sure to please your personal taste at one of our galleries. During the Gallery Art Walk many of the Breckenridge galleries will be featuring artist showcases. Art on a Whim will have artist Fritz Anders in person during the Gallery Art Walk. Anders is famous for his pyrographic work, the art of burning designs or pictures in wood. Altitudes will be featuring award winning photographer Matt Lit. Arts Alive will be displaying their Winterscapes themed work, featuring artist Pam Herring and her ceramics and fiber arts. Hang Time Gallery will have artist Ann Weaver on hand, who will be unveiling her original watercolor created for the 150th anniversary of Breckenridge.

Kathleen J. Kennedy
Executive Director
Frisco Chamber of Commerce

Baby Boomers of the move

2009-01-04T16:39:00.000-07:00

Good new for Summit County as most of our buyers here are of the baby boomer generation, money should be moving about too!

National Association of Realtors reports on November 25, 2008

One in four baby boom generation households (26%) expects to move from their current home in the future, with the majority looking for a single-level home that is more comfortable or convenient, according to a new survey prepared for AARP.Echoing past surveys, most boomers (79%) say they would like to stay in their current home for as long as possible. Some – less than 10% -- said they would like to stay in their current home but don’t think they will be able to do so.Many of those who expect to move said they will be looking for a better house, a better climate or a home that is closer to family and friends. More than half of those boomers (age 45-64) planning to move expect to look for a home that’s all on one level (59%). About half said they will look for a newer home (50%) or a smaller home (49%).The poll conducted by Opinion Research Corporation for AARP * was released to coincide with the announcement of the 2008 Livable Communities Awards from AARP and the National Association of Home Builders (NAHB) honoring innovative thinking in the field of home and community design.Older boomers are significantly more likely than younger boomers to think that they will move into a single level home (68% vs. 54% of those planning to move), but age is not the only factor that affects expectations. Boomer men are more likely than women to believe they will move into a newer home (61% vs. 42%) or move into a home in a warmer or better climate (41% vs. 25%) Boomer women are more likely than men to think they will move into a smaller home (54% v. 41%).

Breckenridge Winter Activities

2009-01-04T15:55:00.000-07:00

Breckenridge Winter Activities

Skiing/ Snowboarding: Envision yourself poised on a mountaintop with blue skies, fresh powder and crisp, clean air all around you. Take a deep breath; this is pure heaven. Breckenridge’s interchangeable lift ticket is also good at Keystone and Arapahoe Basin Ski Areas with a complementary ride provided by the Summit Stage. With four world class resorts, Breckenridge, Keystone, Vail, Beaver Creek, and Copper Mountain are all within 20-60 minutes away.

Skiing/Snowboarding Lessons: Higher learning at 9,600 feet. Whether you’re new to the sport, a passionate intermediate or a seasoned expert, there are snow pros to help.

Sleigh Rides: One of the most charming ways to go through the woods is by horse drawn sleigh. Bundle up and enjoy.

Cross Country Skiing: Enjoy peace and tranquility as your glide between the pines and aspens.

Snowmobile Tours: Visit historic sites and feel the wind as you negotiate turns on this thrill-a-minute ride in our winter playground.

Dog Sledding: Ride a sled pulled by a team of magnificent canines.

Ice-Skating: Enjoy the Maggie Pond at the Village at Breckenridge or the Breckenridge Ice Rink.

Shoe shoeing: Take a show packed hike into nature.

Casino Trips: Visit the Blackhawk and Central City casinos just 45 minutes away.

Breckenridge Recreation Center: Offers rock climbing, racquetball, tennis, weightlifting, basketball, swimming, water slides, fitness classes and child care.

Carriage Rides: Enjoy a horse-drawn carriage ride through the Main Streets of Breckenridge.

Tubing: Keystone offers thrilling tubing rides. Wow!

Sledding: Carter Park is in the center of Breckenridge and offers a great sledding hill and dog park.

Health Spas: There are so treatments to choose from. Blue Sage Spa and Mountain Sanctuary are some wonderful centers.

Silverthorne Factory Stores: Need a break from the hill, head on down to Silverthorne and shop for some great deals. Nike, Ann Taylor, The Gap, Polo just to name a few.

Summit County Overview

2009-01-02T16:26:00.001-07:00

This is an article in The Summit Daily News. I came across a few months ago that gives some great insight into our community.

Thursday, September 11, 2008

Summit County, Colorado, is located in the heart of the Rocky Mountains, approximately 65 miles west of Denver in the central Rocky Mountain region of Colorado. Summit County’s easterly boundary is located at the Eisenhower Tunnel on Interstate 70 and the westerly boundary is the top of Vail Pass on I-70. Hoosier Pass on Colorado Highway 9 is the location of the most southerly boundary and Green Mountain Reservoir is the most northerly.Summit County encompasses 599 square miles, containing approximately 386,053 acres. Most of the county is federally owned, with some 306,417 acres, representing 79% of the land being either the White River National Forest or the Eagles Nest Wilderness area. The remaining 21%, approximately 79,635 acres, is private land.The County has four primary population centers in the towns of Breckenridge, Frisco, Silverthorne and Dillon.Breckenridge is the oldest town and serves as the county seat. The permanent population is estimated at 28,000 people, an increase of 19% in the last eight years. Summit County had the distinction of being the sixth fastest growing county in the state between 1990 and 2000. Summit County is the home of four major ski resorts: Breckenridge, Keystone, Copper Mountain and Arapahoe Basin. All areas, with the exception of Arapahoe Basin, are major destination resorts providing full amenities from hotels and condominiums to retail stores and restaurants.The Blue River, Snake River and Ten Mile Creek all feed Summit County’s two large reservoirs, Dillon Reservoir and Green Mountain Reservoir. In the summer, sailboats glide across Dillon Reservoir, and a few kayaks, canoes and motorized boats dot the water.The dominant economic driver for Summit County continues to be recreation-based tourism and visitors. Skier visits in recent years have topped 4.2 million. Combining the ski resorts winter activity with the amenities available in the summer, such as Dillon and Green Mountain Reservoirs, five golf courses, gold medal trout streams, the surrounding mountains, makes Summit County one of the more popular destinations both winter and summer.Tied to visitors is the construction of second homes, a dominant part of Summit County’s visual and economic landscape. An improving national economy in the first half of the decade and increasing numbers of baby-boomer retirees contributed to the substantial increase in the quality and quantity of new home construction in 2005 and 2006. The construction industry, providers to the construction industry, and real estate and property management companies continue to be significant employers.Figures released by the Colorado Demography Office estimate Summit County 2005 top-five employment categories (public and private sectors) to be accommodation and food (27.2%), retail trade (13.7%), government (9.8%), construction (9.7%) and real estate (9.4%). Along with occupancy of second homes comes the need for a wide range of resident services such as retail, household, and specialty services. The Northwest Colorado Council of Government completed a study in 2004 on the effects of second homes in Eagle, Grand, Pitkin, and Summit Counties. Based on assessor 2000 through 2001 database information, 67% of our housing units were second homes. This study has been renamed to “Transitions in Mountain Communities” with the second phase indicating non-local home ownership at 66% in 2006 with 1,929 new units added between 2003 and 2006.Second homes also continue to put pressure on the demand for already scarce land and have driven property values upward. While the national real estate market may be cooling, Summit County continues to experience appreciation in sales prices and ever increasing numbers of sales through June 30, 2006. The 2007 reappraisal values reflect solid growth in most property classifications. Total employment is estimated at 22,200 jobs with increases in the construction, manufacturing, retail trades, transportation and warehousing, administrative services, healthcare/social assistance, accommodation/food services, other services, and government seen in recent years. The County’s annual unemployment rate hovers between 3 and 4 percent.Summit County citizens welcomed their first hospital, the St. Anthony Summit Medical Center, which opened December 7, 2005. The state of the art 25-bed facility has a full range of diagnostic, surgery, and treatment options. An adjoining medical office building opened in August 2006, which houses doctor’s offices and other ancillary medical and County facilities.(Compiled from the Summit County Website)

Summit Daily News Source

Luxury Home Magazine

2008-12-15T16:52:00.000-07:00

Luxury Home Magazine writes:

Recent statistics indicate that residential home prices and sales in Denver and the Front Range have held up against the national trend, and are fighting negative market conditions. Here are just a few great statistics publushed recently:
Home values in the Denver area dipped only 5.4 percent in the year ending in September, far better than the 17.4 percent drop for the 20 cities tracked in the closely monitored S&P/Case-Shiller Home Price Indices recently released.
The Urban Land Institute named metro Denver one of its top 10 real estate markets to watch next year, in its Emerging Trends in Real Estate 2009 report released Oct. 21.
MarketWatch, which recently released rankings, puts the Denver area at No. 3 this year, behind No. 1 Minneapolis-St. Paul and No. 2 Boston. MarketWatch considered such criteria as the number of companies in metro areas on four lists: the Fortune 1000, Forbes private companies, the S&P 500 and the Russell 2000. The companies are counted and averaged against an area’s population. Population and job growth also were considered, as were unemployment figures.
Start 2009 off right, with your marketing already working for you! Luxury Home Magazine is now the largest and most widely distributed niche real estate publication in Colorado. We are continuing to succeed because we only focus on marketing your luxury listings and delivering you the results you need! We can now be found in over 20 metropolitan areas across the country. Let us market your luxury listing- that is what we do best!
CLICK HERE TO VIEW THE DIGITAL ONLINE EDITION OF LHM

17" of snow and 17 sales in last week

2008-12-15T16:18:00.000-07:00

17" of snow and 17 sales in last week.

Another great week of snow! Breckenridge reported 17" of snow in the past 7 days and we are expecting
more tonight! Here is the link to all 100% ownership residential properties
that closed these past week. We are up from the past 2 weeks at 17. http://summit.mlxchange.com/Pub/EmailView.asp?r=254016611&s=SUM&t=SUM Hope this info helps to keep you informed on our market here.

Happy Holidays,

Kaycee Tolmie

Land Title report

2008-11-19T16:49:00.000-07:00

Positive Perspective from Source of Land Title

Highlighting the Upside of the Economy in a Challenging Market

November 2008, Issue Five

Seven hotels retain U.S. 36 plans: A faltering economy hasn’t chased hotel developers away from the U.S. 36 corridor, where seven hotels are slated to open before energy giant ConocoPhillips launches a new training facility on the former StorageTek campus in 2012. (Denver Business Journal)
http://denver.bizjournals.com/denver/stories/2008/10/06/story1.html

Home Prices: Now for the Good News: Denver listed in the top 7 of areas most likely to rebound. Denver’s overall outlook is sunnier than for most western cities because neither inventory nor prices spiraled out of control during the boom. (Yahoo Real Estate)
http://realestate.yahoo.com/promo/home-prices-now-for-the-good-news.html;_ylc=X3oDMTF0NTRjZTFlBF9TAzI3MTYxNDkEX3MDOTc2MjA0NjUEc2VjA2ZwLXRvZGF5BHNsawNob21lLXByb2Nlcy1nb29kLW5ld3M-

ULI ranks Denver among top 10 real estate markets: The Urban Land Institute named metro Denver one of its top 10 real estate markets to watch next year, in its Emerging Trends in Real Estate 2009 report released Oct. 21. (Denver Business Journal)
http://denver.bizjournals.com/denver/stories/2008/11/03/daily8.html?surround=lfn&brthrs=1

Halting the Mortgage Meltdown: Citigroup, JPMorgan Chase and Bank of America have separately announced plans to help ailing borrowers. On Tuesday, the Federal Housing Finance Agency, the regulator for Fannie and Freddie, announced its own sweeping plan. Collectively the hope to modify 1.3 Million loans.
http://www.forbes.com/wallstreet/2008/11/11/mortgages-fannie-freddie-biz-wall-cx_lm_1111citi.html
Supply of Unsold Homes Dives Again: The number of unsold homes on the Denver-area market continued to plummet in October, falling to an almost three-year low. There were 4,504 homes placed under contract, down only 3 percent from the 4,645 in October 2007 http://www.rockymountainnews.com/news/2008/nov/07/stock-of-unsold-homes-dives-again/?partner=RSS

"People are always blaming their circumstances for what they are. I don't believe in circumstances. The people who get on in this world are the people who get up and look for the circumstances they want, and if they can't find them, make them."
George Bernard Shaw

Summit County Cares Press Release

2008-11-19T16:45:00.000-07:00

Summit County Cares Fund: Community Fundraiser
The Summit County Community is coming together to help families in need during the holiday season.

Summit County, CO-A large scale community fundraiser, Summit County Cares, has been created to address basic needs assistance for the Summit County Community. Members from each of the Summit County media organizations including Krystal 93, NRC Broadcasting, RSN, SCTV, Comcast and Summit Daily News in conjunction with the Summit Foundation and local nonprofits have agreed to join forces in order to raise funds for the Summit County Cares Fund.

The Summit County Cares Campaign will run from November 17 to December 31 all throughout Summit County. The goal is to raise $125,000 for the community. Summit County Cares funds will provide basic needs assistance to residents in crises. This will give the community much needed aid for emergency food, rent assistance, utility assistance, healthcare and clothing. The goal for the fund can easily be accomplished with a $5 donation from every Summit County resident. Businesses with 100% donation participation will receive recognition throughout the campaign on air and on the web.

The need in Summit County is great and it grows every day. Many residents of the community work in low wage, service industry jobs that may not provide enough for the high cost of living. These jobs are crucial for the stability of the local economy yet they do not supply sufficient funds for many residents trying to support a family. Basic needs assistance can provide help for many in financial crisis and can prevent heat disconnection, or worse, homelessness.

Summit County is not immune to the difficult economic times affecting the nation and the rising energy costs hit our community even harder in the cold mountain winters. The local food banks have seen client numbers double, with nearly a third of those requesting assistance proving to be first time clients. Food banks are drying up and assistance funds are beginning to disappear, but it is possible to change the problem. With the help of the whole community, Summit County can raise enough money to ensure residents can stay in their homes, keep the heat on and put dinner on the table.

The need is enormous and our local media has come together for a common purpose, now Summit County residents must join the cause to show those in need that Summit County Cares. Donations can be sent to:
Summit County Cares
c/o The Summit Foundation
P.O. Box 4000
Breckenridge, Co 80424
Donations may also be made online starting November 19, 2008 at any of the following websites:
http://www.summitfoundation.org/ http://www.ksmtradio.com/
http://www.summitfirc.org/ http://www.summitdaily.com/ http://www.krystal93.com/ http://www.summitclinic.org/ http://www.summitadvocates.org/
www.rsn.com/summitcounty http://www.ksmvradio.com/

###

Smart Money Article

2008-11-18T21:12:00.000-07:00

Here is an article I came across in Smart Money. While a few months old, still interesting reading.

Published May 23, 2008 A A A
Consumer Action by Aleksandra Todorova (Author Archive)
Foreign Buyers Flocking to U.S. Housing Market
AMERICANS' LOVE AFFAIR with real estate may be cooling, but thanks to falling home prices and the weak dollar, attention is heating up from another group of suitors: foreign investors.
Foreign buyers have long looked to certain U.S. markets — say, high-end properties in cosmopolitan Manhattan or sexy South Beach Miami — as investment opportunities. These days, however, real estate professionals report increased international interest in a much larger range of properties — from $60,000 single-family homes in South Florida's inland neighborhoods to $1 million waterfront villas located just miles from the Canadian border in Washington State. Almost one in five, or 18%, realtors surveyed by the National Association of Realtors last year said they sold homes to international clients between April 2006 and April 2007. More recent data isn't yet available, but according to anecdotal evidence, those numbers continue to rise.
"There definitely is more interest in U.S. properties, no question about it," says Mark Partin, president of Toronto-based Trailridge Property Corp., which brokers deals between U.S. developers and Canadian investors interested in buying residential properties in "bulk."
For many foreign buyers, property in the U.S. is downright cheap. Canadians now get an 80% discount on what they would have paid for a piece of the U.S. just three years ago, when one Canadian dollar was worth just 80 U.S. cents and properties in some areas were 50% more expensive, Partin notes. (One Canadian dollar is now worth roughly $1 in U.S. currency.) For European buyers, whose currency carries 25% more buying power in the U.S. than it did just three years ago, today's depressed property prices are no less attractive.
While Americans are discouraged by images of neighborhoods blighted by "For Sale" signs and taped-off properties, foreign buyers are much more optimistic, especially about the long-term health of the U.S. market, says David Michonski, a certified international property specialist and CEO of Coldwell Banker Hunt Kennedy in New York. "The foreign buyer has an unbridled confidence in the U.S. market that is lacking in the domestic purchaser today," he notes. "They view this as the bargain of a lifetime and are terribly excited about it."
Kim Kirschner, chairwoman of the Realtor Association of Greater Miami and the Beaches, recently returned from two international trade shows (one in Madrid, one in Paris) exhibiting second-home opportunities. She says interest in U.S. properties was decidedly higher than a few years ago when attendees were more interested in places that offered higher return on investment, such as Bulgaria. "Now they understand the U.S. market is more stable. We may have down cycles, but we go up back again," says Kirschner.
That profit potential is what convinced Londoner Grace Felix to start looking for a place near Fort Lauderdale, an area where she and her fiancée already spend about two weeks out of every three months. "Hotels cost an arm and a leg," she says. "It makes better sense to buy and it's a good investment."
Felix's realtor, Jacqueline Christophe-Hayot, receives similar inquiries from French, British and Canadian buyers on a weekly basis. And, she says, these buyers aren't the stereotypical Florida-bound retiree, but rather "the Miami beach crowd": 30-something professionals who plan to use the property for several weeks a year and rent it out the rest of the time. With prices down to 2002 levels and sellers willing to negotiate even lower, such arrangements make a great deal of financial sense, she says.
In Phoenix and Scottsdale, Ariz., Canadians who are years away from retirement buy property now rather than risk higher prices later, says Irene Hammond, a realtor in the area. Property values in Canada remain stable, allowing many potential buyers to refinance or take home equity loans that they can use to buy in the U.S. — often, with 100% cash down. "They've heard there's a fire sale going on down here," Hammond says, adding that some Canadian buyers come to her with unrealistic expectations, wanting to pay, say, $225,000 on a house listed for $300,000. (Such low-ball offers do not get accepted, she says.)
Interest is so high, that many of Hammond's fellow real estate brokers now include the Canadian dollar exchange rate on their web sites, or even host web sites specifically targeted at foreign buyers. In fact, real estate brokerages across the country are increasingly putting an international spin on their marketing efforts.
Jean Groesbeck, a realtor in Anacortes, Wash., located on an island about 70 miles north of Seattle and south of the Canadian border, just started advertising on LuxuryPortfolio.com, a high-end property web site that can be translated into multiple languages and features currency exchange rates. Earlier this month, SecondSpace.com, an online marketplace for vacation homes and retreats, launched three web sites (ResortScape.ca), ResortScape.co.uk and LandWatch.co.uk) targeted at Canadian and U.K. residents.
Despite all the hoopla, though, foreign buyers alone will hardly help the U.S. crawl out of the current housing mess, says Mike Inselmann, president of national housing consultancy Metrostudy. Unsold inventory in some areas is so abundant that it cannot be absorbed, even with increased interest from our neighbors north of the border or overseas. "I wouldn't say it's the elegant solution to the housing inventory problem, but I do think it'll play a minor role," he says. "Maybe bigger in some markets than others."
According to Michonski, foreigners can at least bring to the U.S. market what it's been lacking most in the past months: "They'll provide a psychological support of confidence," he says.

Vail Resorts to use Wind Power for 100% Energy use

2008-11-16T20:20:00.000-07:00

Check out this video for more info

Wonderful Deal!

2008-11-12T10:46:00.000-07:00

As we look forward to an amazing ski season this winter, it is only fitting that we look back on the record setting ski-in/ski-out development of Crystal Peak Lodge. This premier Peak 7 Location was the first of its kind in nearly 25 years and has been a huge success. All the new owners of Crystal Peak Lodge are getting their residences ready for the upcoming winter rental season and are extremely pleased with their mountain homes.

Vail Resorts Development Company has retained two residences in the building and they are offering them at 2006 developer prices. Residence 7008 is a 1 Bedroom, 2 bath priced at $805,000 and 8404 is a 2 bedroom, 2 bath priced at $1,195,000. Below are virtual tour links to both properties:

Residence 7008
http://www.interactiveproperties.com/idxshowcase58020

Residence 7404
http://www.interactiveproperties.com/idxshowcase58019

Fly Fishing

2008-11-11T14:57:00.000-07:00

A fellow broker has been asked to help get our local Trout Unlimited chapter up and rockin’ again with some good events, good enviro work, etc. To kick things off we are presenting the epic fly fishing film, Drift, written by Tom Bie, editor of the Drake Magazine (also was editor of Powder Mag and worked with Warren Miller). Tom will be on hand, Fishpond is handing out Piopods to the first 75 attendees and tickets are cheap--only ten bucks, even includes a beer! The event is Tuesday, November 18th, at the Silverthorne Pavilion, doors open at 6pm. All proceeds will go to the Colorado Water Trust.

Even if you are not a fisher you will enjoy the film, micro brew, and heck, what else are you going to do on a Tuesday night? Bring your fishin’ clients…….they will thank you. Please forward invitation to any and all! Thanks for you support.

Colorado ski pass

2008-11-10T19:24:00.000-07:00

Colorado Pass deadlines extended.

OPENING WEEKEND EXCITEMENT AND SNOW IN THE FORECAST PROMPTS VAIL RESORTS TO OFFER ONE FINAL CHANCE FOR COLORADO AND SUMMIT PASS SALES THIS WEEK
· Vail Resorts offers an additional week for Colorado and Summit Pass sales at fall prices through Nov. 16
· This is the last week for Epic Season Pass sales, through Nov. 15
· Breckenridge and Keystone opened this weekend for the ski season. Vail opens Nov. 21 followed by Beaver Creek on Nov. 26.
BROOMFIELD, Colo.— Nov. 10, 2008 — With the start of the ski season at Breckenridge and Keystone this weekend, as well as snow in the forecast today, Vail Resorts is giving Colorado skiers and snowboarders an additional opportunity to purchase the state’s most popular season passes – The Colorado and Summit Passes. The Colorado and Summit Passes will stay on sale at fall prices through Sunday, Nov. 16 at select Front Range locations.*
“We’ve been getting phone calls and e-mails from panicked Colorado skiers and snowboarders who didn’t buy their Colorado or Summit Pass before our deadline,” said Heidi Kercher-Pratt, vice president of corporate marketing for Vail Resorts. “With the new snow and the kickoff of the ski season at Breckenridge and Keystone this weekend, Colorado skiers and snowboarders are excited and eager to take their first turns of the season. So we’re giving our loyal guests one more week to buy our state’s most popular season passes (The Colorado and Summit Passes).”

According to Kercher-Pratt, Coloradoans love to ski. “Now more than ever we need to feel that exhilaration of being back on skis … that sense of awe when we stand at the summit of a mountain … the rush of adrenaline when we make that first turn of the season. We don’t want anyone to miss out on these opportunities with their friends and family this winter. That’s why we’re giving Coloradoans another week to buy their Colorado or Summit Pass.”

Summit and Colorado Passes Back on Sale through Nov. 16
Sunday, Nov. 16 is the last day to purchase Colorado’s most popular ski passes – $419 for The Summit Pass™ and $459 for The Colorado Pass™ - at the fall prices.

The Summit Pass™ gives skiers and snowboarders unlimited, unrestricted access to Breckenridge, Keystone and Arapahoe Basin for $419 for adults, $319 for teens (ages 13-18) and $209 for children (ages 5-12). The Colorado Pass™ offers unlimited, unrestricted skiing at Breckenridge, Keystone and Arapahoe Basin all season with an additional 10 days* at Vail and Beaver Creek for $459 for adults, $339 for teens (ages 13-18) and $219 for children (ages 5-12).

Visit www.coloradopass.com for more information.

* The Colorado Pass is restricted from use at Vail and Beaver Creek: Nov. 28-29, 2008; Dec. 27-31, 2008; and Feb. 14-15, 2009.

Epic Season Pass on Sale through Nov. 15
Time is ticking. This is the last week to purchase an Epic Season Pass - Saturday, Nov. 15 is the deadline to buy Vail Resorts’ Epic Season Pass™ - $579 for adults and $279 for children. The unlimited, ski-as-much-as-you-want, unrestricted Epic Season Pass™ with no black-out dates features more than 18,000 acres of skiing at Vail, Beaver Creek, Breckenridge, Keystone, Heavenly and Arapahoe Basin for the entire 2008-2009 season and is considered one of the best on-mountain deals in the industry this season. Visit www.epicpass.com for more information or to purchase your Epic Season Pass.

Pass Renewals and Pass Sales Locations
Pass renewals for Summit and Colorado passes are available online at www.coloradopass.com. Renewals or new passes may be purchased at the following locations through Nov. 16:

Front Range: Boulder Ski Deals (Boulder), Colorado Ski and Golf (Aurora, Arvada, Colorado Springs and Littleton), REI (Denver Flagship, Fort Collins, Lakewood, Englewood, Boulder and Colorado Springs), Breeze Ski Rentals in Lakewood and Dumont, as well as Flatiron Crossing Mall, Park Meadows Shopping Center, The Shops at Northfield in Stapleton and The Orchard Town Center.

Resort pass sales: Vail, Beaver Creek, Breckenridge and Keystone (check for times and exact locations)

For more information about the Summit or Colorado passes or sales locations and time, call 888-215-3867 or visit www.coloradopass.com. Visit www.epicpass.com to purchase your Epic Season Pass™ or for more information about this new season pass.

November Market Insider

2008-11-04T16:41:00.000-07:00

Click image for larger view.

Keystone Ski Resort to open soon

2008-11-04T13:44:00.000-07:00

N e w s R e l e a s e
Media Contacts:
Kate Lessman Coble, 970.496.4107, klessman@vailresorts.com
Katie Adamson, 970.496.4065, kadamson@vailresorts.com

KEYSTONE RESORT OPENS NOVEMBER 7th WITH THE NEW RIVER RUN GONDOLA

Ribbon Cutting Ceremony Celebrates Gondola Opening

KEYSTONE, Colo. – October 30, 2008 – Keystone Resort is opening on November 7, 2008 with the new, state-of-the-art River Run Gondola. The new eight-passenger gondola replaces the previous six-passenger River Run Gondola. A key component of the new gondola includes the move of the bottom terminal into Keystone’s River Run Village which significantly enhances the guest experience by making access to the gondola easier. Also, a new mid-station is now located halfway up Dercum Mountain with loading and unloading in both directions, giving skiers and snowboarders an option to access Keystone’s upper trails from mid-mountain and to download at the end of their ski day.

MEDIA ADVISORY/PHOTO OPPORTUNITY

WHAT: Opening day at Keystone Resort and ribbon cutting ceremony for new River Run Gondola

WHEN: Gondola Ribbon Cutting will take place at 8:30 a.m., and the mountain opens for skiing at 9 a.m.

WHERE: Keystone Resort, River Run Village, the new gondola terminal.

PHOTO OPPORTUNITY: New gondola ribbon cutting celebration with Keystone executives, community leaders and the gondola construction team.

Current B.Roll Available:
Keystone Resort has HD and SD digital video of gondola construction and snowmaking on the FTP server.
Credit: Keystone Ski Resort, Colo.
http://videotransfer.vailresorts.com/keystone
(copy and paste in browser)
Username = snowPassword = blizzard

Photo Attached: New River Run Gondola at Keystone Resort.

Additional b-roll and photos will be available on Nov. 7.

For more information, please visit http://www.keystoneresort.com/.

Let it snow

2008-11-01T14:13:00.000-06:00

Interesting article from the Summit Daily 10/30/08

Great white hope: Last year’s record numbers reflect the power of powder
BY TANYA CANINOspecial to the daily

Consumers are sitting on the sidelines, and discretionary spending is down — neither is good news for mountain resorts eyeing the 2008-09 ski season. However, there is one variable that could change everything: snow.“Snow trumps all evils,” Ralf Garrison said this week in the Mountain Travel Symposium’s 2008-09 travel-outlook session.Despite the gloomy economic indicators, if there was a choice between a good economy or snow, choose snow, said Garrison, principal of the Mountain Travel Research Project, which provided data for the symposium.Last ski season, the National Ski Areas Association reported a record 60.5 million skier and boarder visits despite a weak economy.“Snow is the key that unlocks the paradoxes,” Garrison said, adding that it is not just the cold, white stuff on the ground which attracts skiers, but the “snow mentality.”“Snow is more than weather; it is a state of mind,” he said. “As people decide what to do with their time and money, they are going to do what they are passionate about.”The key for ski and mountain destinations trying to survive a possible a flat year is to change skiers’ perceptions, convincing them that they need a vacation.Arthur Cassidy, a social psychologist, said there is an idea that, when you’re not feeling good about life, you need to take care of yourself. Then, vacations become “doctor’s orders,” Garrison explained.Harley-Davidson Motorcycles, in a recent full-page newspaper ad, caught this mentality with copy that says “... freedom and wind outlast hard times, and the rumble of an engine drowns out all the spin on the evening news ... So screw it, let’s ride.”After an initial drop, sales have leveled out because Harley-Davidson found the way to get to the heart and passion of their market, Garrison said.Harley-Davidson played on the notion that motorcycles are not discretionary — a good tactic, because as spending drops, discretionary spending gets hit the worst.“We fall prey to that at least as long as we fail to challenge that a ski or mountain vacation is discretionary. We might organize ourselves as a want or even a need,” Garrison said to mountain travel-industry leaders during the seminar.
Economic factors The sub-prime mortgage problem that began the economy’s woes has led to an all-time low in consumer confidence, Garrison said. The Consumer Confidence Index, released on Tuesday, is 60.8 percent lower than in October 2007, dropping a record 23.4 points since last quarter.“Consumers are extremely pessimistic ... and this news does not bode well for retailers who are already bracing for what is shaping up to be a very challenging holiday season,” the Consumer Confidence Conference Board said.Consumer spending makes up seventy percent of the nation’s Gross Domestic Product.“In the last eight months, we’ve begun the death spiral (in spending),” Garrison said.The Mountain Travel Research Project shows that through Sept. 30, bookings were down 11.1 percent for the travel period of November through March. Last year, they slumped 2.7 percent in those same months. However, bookings in October and November stand as the best indicators, Garrison said. In good news, occupancy in high seasons when children are out of school continue to come in stronger than other times of the year. Additionally, some skiers will look for cheaper resorts farther away, even during lower season, to get the best bargain.Dirk Beal, director of sales and central reservations for Deer Valley, said higher-end lodging properties are lowering prices. While price inflation can be good for consumers, Beal adds that simply filling units hurts higher-end demographic resorts.“We’re almost getting to a fire-sale mentality in our lodging industry,” he said.In this type of economic climate, value and loyalty are two key factors for resorts.“Consumers must spend to support the economy, and our carrot is the ski vacation,” Garrison said. “...What we don’t know is what the winter holds.”

Winter is here

2008-10-24T11:45:00.000-06:00

Winter is here

FOR IMMEDIATE RELEASE

B-Roll video: FIRST SNOW STORM OF THE 2008-09 SKI/SNOWBOARD SEASON BLANKETS BRECKENRIDGE, COLORADO
· Opening Day Friday, November 7
· New opening event Laughs and Lifts Nov. 6 – 8
· Baggage Bailout
· Epic Season Pass

BRECKENRIDGE, Colo. –Oct. 22, 2008– It’s time to dust off the boards and dig out the winter clothes. This morning the few remaining golden leaves of fall where covered with white as Breckenridge residents woke up to more than five inches of snow. Snow continues to fall as Colorado’s high country remains under a winter weather outlook for the rest of today.

Snowmaking operations have begun with opening day at Breckenridge Ski Resort just 16 days away on Friday, Nov. 7. Breckenridge will celebrate opening weekend with the First Annual Laughs and Lifts Comedy Festival. Check out http://www.laughsandlifts.com/ for more information.

High Definition Video:
Breckenridge Ski Resort has available high-definition digital video and is able to provide the footage to interested television stations. Footage includes shots of snowmaking and downtown Breckenridge. The Breckenridge PR dept. has put downloadable HD and SD footage on our FTP server.

To access this footage, go to:
(copy and paste in browser)

http://videotransfer.vailresorts.com/breckenridge
Username = snowPassword = blizzard

Photos:
1. Breckenridge Ski Resort snowmaking. Credit: Breckenridge Ski Resort
2. Cruiser bike covered in white. Credit: Breckenridge Ski Resort
3. Downtown newspaper dispensers blanketed with snow. Credit: Breckenridge Ski Resort

First Annual Laughs and Lifts Comedy Festival in Breckenridge, Colorado over Opening Weekend
Taking place at the Village at Breckenridge from Nov 6th with dates through November 12th, the festival will be a 4 night event which will include nationally touring stand-up comedians, movies, seminars, magic and hypnosis. Featured acts include Eddie Gossling (Comedy Central), Chuck Roy (Will and Grace, Last Comic Standing - Semi Finalist), Denver’s Mile High Sci-Fi presents ‘The Terminator’, Wrist Deep Productions (Denver’s hottest underground comedy collective), Hypnotist Rusty-Z, and more to be announced. Check out http://www.laughsandlifts.com/ for more info.

Vail Resorts Introduces a “Baggage Bailout” for the 2008-2009 Ski Season -- Subsidizing Baggage Fees with $50 per Guest

To help offset added airline fees, Vail Resorts is offering a “Baggage Bailout” for skiers and snowboarders staying at Vail, Beaver Creek, Breckenridge, Keystone and Heavenly this winter. Guests will receive a $50 credit when they book at least a four-day, four-night ski or snowboard vacation by Dec. 1 through Vail Resorts at (866) 949-2573.

Unlimited Epic Season Pass
Most skiers and snowboarders dream of an ‘epic’ season. Now, Vail Resorts, Inc. is making that dream a reality with the Epic Season Pass, a new unlimited, unrestricted season pass that’s valid for the entire 2008-2009 ski and snowboard season at five of the top-rated resorts in the world: Vail, Beaver Creek, Breckenridge, Keystone and Heavenly, all for an initial price of only $579. Check out http://www.epicpass.com/ for details

For information on Breckenridge including opening day information, snow reports and more, visit http://www.breckenridge.com/ or call (970) 453-5000.
Media Contacts:
Kristen Petitt, (970) 453-3210, kpetitt@vaileresorts.com
Ryan Whaley, (970) 547-7402, rwhaley@vailresorts.com

Great Secondhand Summit Story

2008-10-20T13:52:00.000-06:00

Funny story at my office meeting on Tuesday. Another broker in my office sold a condo to some clients last year and the property hadn’t appreciated as much as he had hoped. Anyways, he ran into them and was really nervous as to what to say and was worried they would be upset with him…. The first thing they said was thank you so much for encouraging us to buy this condo. Had we left the money in the stock market, ½ would be gone. So it had a happy ending!

Breckenridge Opening Day Press

2008-10-20T13:49:00.000-06:00

BRECKENRIDGE SKI RESORT TO START THE 2008/2009 SEASON ON PEAK 8
* New opening event Laughs and Lifts Nov. 6 - 8
* AST Winter Dew Tour Dec. 18-21
* Wake up Breckenridge Nov. 6
BRECKENRIDGE, Colo. -OCT. 17, 2008-Today, Breckenridge Ski Resort announced the opening day plan for the upcoming winter season. Breckenridge Ski Resort is planning to open Friday, November 7, with terrain, lifts and services on Peak 8. With cold temperatures in the forecast providing optimal snowmaking conditions Breckenridge Ski Resort plans to start up snowmaking operations Sunday, October 19. Skiers and riders can expect to enjoy top to bottom skiing via the Colorado Superchair. The BreckConnect Gondola will be open providing the only resort access with a scenic ride from the skier parking lots in town (there is no parking on Peak 8 due to construction).
"With the opening of Peak 8, we are able to provide a new experience on opening day to all of our guests," said Rick Sramek, vice-president of mountain operations for Breckenridge. "We will be able to open more ski runs and lifts earlier, allowing skiers and riders more choices in terrain."
Breckenridge guests can look forward to an opening weekend packed with events. Breckenridge will celebrate opening weekend with the First Annual Laughs and Lifts Comedy Festival. Taking place at the Village at Breckenridge from November 6 - 8, featured acts include Eddie Gossling (Comedy Central), Chuck Roy (Will and Grace, Last Comic Standing - Semi Finalist), Denver's Mile High Sci-Fi presents 'The Terminator', Wrist Deep Productions (Denver's hottest underground comedy collective), Hypnotist Rusty-Z, with more to be announced. Visit http://www.blogger.com/www.laughsandlifts.com <http://www.laughsandlifts.com/> for updates and more information.
"Opening Peak 8 first this year gives our mountain operations team every advantage to prepare the mountain and venue for our largest event ever, the AST Winter Dew Tour. The Winter Dew Tour co-sponsored by the Town of Breckenridge, runs from December 18 - 21, will feature freeskiing and snowboarding disciplines for both men and women with over 10 hours of live coverage on NBC, 6 hours on the USA network and 12 hours on MTV and MTV2," said Lucy Kay, chief operations officer for Breckenridge Ski Resort.
Breckenridge Ski Resort and the Town of Breckenridge would like to say thank you to the Breckenridge community during the sixth annual Wake Up Breckenridge, Thursday, November 6 at local coffee shops from 7-9 a.m. Members of Breckenridge's management team and town leaders will be on hand at the following coffee shops in town to distribute 1,500 free mugs and coffee at: Starbucks; Clint's Bakery & Coffee House; Cool River Coffee House; Helen's Coffee Cart at City Market; Amazing Grace, Coffee Depot at Main Street Station and Daylight Donuts.
Breckenridge Ski Resort plans to open Peak 9 by Thanksgiving with all skier services available at both the Village and Beaver Run base areas. With early opening of Peak 8 and the Thanksgiving opening of Peak 9, the resort will be able to offer more variety by the Thanksgiving holiday.
Breckenridge Ski Resort would like to thank Vail Resorts Development Company and PCL Construction for their great teamwork and effort in advancing the construction schedules of One Ski Hill Place to accommodate opening plans on Peak 8. Openings dates and terrain are subject to weather conditions and unforeseen construction related issues.

Media Contacts:

Kristen Petitt: (970) 453-3210, kpetitt@vailresorts.com
Ryan Whaley: (970) 547-7402, rwhaley@vailresorts.com

Solds last week

2008-10-14T16:26:00.000-06:00

Here are the solds for this past week. This is all residential property in Summit County.
http://summit.mlxchange.com/Pub/EmailView.asp?r=813972997&s=SUM&t=SUM

Summit County this week

2008-09-30T12:36:00.000-06:00

Many of my clients have been asking the same question. "Kaycee, what is selling. What price range is moving and what town?" Here is a link to the sales this last week. http://summit.mlxchange.com/Pub/EmailView.asp?r=733170804&s=SUM&t=SUM I hope that sheds some further insight into the market here. I'll continue to keep you updated.

Kaycee

Foreclosure Article

2008-09-19T21:20:00.000-06:00

A few months ago I posted on foreclosures in Summit County. Here is an article I came across for Vail/ Eagle County but has references to are area here too.

High-dollar home sales still going strong, market report says
Melanie WongVail, CO Colorado

EAGLE COUNTY, Colorado — The county has mostly escaped the foreclosure crisis that has affected much of the rest of the country, real estate and financial experts said.The number of foreclosures in the county are about on track with last year, said Eagle County Public Trustee Karla Herridge.There have been 112 foreclosures filed in Eagle County so far this year. There were a total of 140 foreclosures in 2007 and 197 in 2006.Time shares usually make up almost 60 percent of the foreclosures in the county, but this year time shares have only made up about a third.“It’s been more foreclosures on real properties this year,” Herridge said.Foreclosures on time shares can be more common because people often buy them at high-pressure sales pitches, and the owners are often younger people. Other times the foreclosures are results of a divorce, Herridge said.Chris Neuswanger, a loan officer at Macro Financial Group, said he has noticed a similar trend.“(Foreclosures) are up a little bit,” he said. “But it hasn’t been impacting us as much. When you compare us to other parts of the country, it’s minuscule.”While in other markets, foreclosures can bring down other property values in the neighborhood, that hasn’t been the case in Eagle County, Neuswanger said.The limited numbers of foreclosures won’t affect surrounding home values too much as long as they are sold at the market price and aren’t for-sale for too long, he said.The mountain resort counties tend to stay strong while foreclosures hit elsewhere, Herridge said.Summit County hasn’t seen an increase in foreclosures either — in the fact the numbers are slightly lower compared to September of last year, said Bill Wallace, the county’s public trustee and treasurer.“I still get people calling and trying to get a good deal (on a foreclosed home),” he said. “But it didn’t exist before up here, and it still doesn’t exist.”

Unknowingly foreclosed?
A look at the treasurer’s foreclosure data reveals an unexpectedly broad range of homeowners in trouble. The homes listed for foreclosure range from middle-range properties to high-end homes in Vail or Cordillera.Gretchen Scheibe, who formerly worked for a local real estate broker, said she’s concerned that many of these homeowners, especially second-home owners, might not know their homes are under foreclosure.Often the notices are sent to the address of the homes undergoing foreclosure, and in some cases, records show that mail has been returned from a home multiple times.Scheibe said she’s known at least one second-home owner in the county who simply lost track of the home payments. The notices were being sent to the home’s physical address, and the owner had no idea their home was undergoing foreclosure.“At a minimum, that’s very troubling, especially in a place where a majority of areas don’t have mail service to physical addresses,” Scheibe said.Herridge admitted that kind of mistake can happen, but that the Treasurer’s Office can only go by the address provided. The Treasurer’s Office is required try and contact the last known address of the home owners, send mail notices at least twice, and to publish notices of foreclosures for five weeks in the newspaper, Herridge said.

Sales still strong
While there has been a lot of talk about foreclosures, slowing sales and a dead real estate market, Neuswanger said he doesn’t think Eagle County is in too much trouble. He said he has seen a “slow down” in the down valley home market, but isn’t too worried.“There’s nothing I would call a ‘declining’ market here,” he said. “Hopefully we’ll dodge the bullet. My sense is that things are solidifying.”According to a recent Land Title Guarantee report, it’s been a good summer for property sales in the county, especially multi-million dollar sales.July had the highest dollar volume sales of any month so far in 2008, and sales were higher than any other July on record, according to the report.Staff Writer Melanie Wong can be reached at 970-748-2928 or mwong@vaildaily.com.

Summit County Parade of Homes

2008-09-19T21:18:00.000-06:00

The next 2 weekends are the Parade of Homes. Click on link to view: http://summitcountyparade.co.newsmemory.com/

Vail Resorts

2008-08-20T16:33:00.000-06:00

Check out this interesting article:

Vail Resorts Named a “World Saver” by Condé Nast Traveler for Leadership in Environmental Protection

Company Announces Identification of 5 Percent Reduction in Total Energy Consumption for Fiscal Year ending July 31, 2009

BROOMFIELD, Colo. – Aug. 18, 2008 – Vail Resorts (NYSE: MTN), the premier mountain resort operator and a leader in luxury destination-based travel at iconic locations, was honored today by Condé Nast Traveler as a leader in social responsibility in the travel industry as a winner of the magazine’s 2008 World Savers Awards in the category of environmental protection.

As one of only six global travel companies hand-picked from 142 applicants by an elite and prestigious judging panel for Condé Nast Traveler’s environmental leadership awards, Vail Resorts was recognized for its commitment to renewable energy, its aggressive and innovative “energy layoff” conservation program and its successful forest conservation partnership with the National Forest Foundation, a nonprofit associated with the U.S. Forest Service.

"The Condé Nast Traveler World Savers Awards recognize companies that are stepping up to the challenge of improving our world," said Condé Nast Traveler Editor-in-Chief Klara Glowczewska. "This year’s finalists are setting standards in social responsibility in ways that we hope will become models for the entire travel industry."

“At Vail Resorts, our product is the great outdoors and as such, we have a special obligation to protect the environment in which we live and work,” said Rob Katz, chief executive officer of Vail Resorts. “We are truly honored to be recognized as one of the leaders in sustainability in our industry by one of the icons in the publishing industry - Condé Nast Traveler. But, we’re not resting on these laurels. We are continuously looking for ways to further improve the already exceptional experience we provide our guests and to do so in a responsible and sustainable way.”

In August of 2006, Vail Resorts committed to offset 100 percent of its electricity usage with renewable energy credits that support the development of wind farms across the country. At the time, Vail Resorts had made the second largest corporate commitment to this renewable energy program in the United States. That commitment continues to this day with Vail Resorts offsetting electricity for its five ski resorts, lodging properties including eight RockResort hotels and spas and nearly 2,000 additional hotel and condominiums, the Grand Teton Lodge Company, more than 145 retail and rental operations and its office locations.

Vail Resorts also forged a partnership with the National Forest Foundation, a nonprofit partner of the U.S. Forest Service, to create one of the largest donation-based forest conservation programs of its kind, that has raised almost $1 million to date, allowing numerous miles of trails to be built and maintained, wildlife habitat to be protected and also for the improvement of the overall health of forests.

In the fall of 2007, Vail Resorts launched an energy conservation program that was then expanded in the spring of 2008 with the announcement of a companywide “energy layoff” with the goal to reduce the Company’s energy consumption by 10 percent over two years.

Today, Vail Resorts announced that it has identified initiatives across the Company that would result in a 5 percent reduction in its energy consumption for its fiscal year ending July 31, 2009 (over the prior fiscal year). New “energy layoff” measures that will be implemented this ski season include:

Companywide implementation of a program started at Beaver Creek called IdleWise that limits idling time on all company vehicles to five minutes or less;
Expansion of the employee carpool incentive program;
Upgrades and enhancements to snowmaking systems: from energy-efficient pumps to purchasing new, higher-tech snow guns that save energy and water;
Right-sizing vehicle power and optimizing vehicle routes to minimize fuel consumption on all tasks;
Installation of motion sensors and programmable thermostats;
Lighting retrofits;
Mandatory adherence to Energy Star criteria for all capital projects;
Infra-red photo audits of the energy efficiency for Company facilities and buildings to reduce leaks and use less energy to heat buildings; and
Numerous other initiatives.

“Today, reducing energy consumption should be one of the highest priorities for any U.S. company. With both the high price of oil and natural gas, as well the imperative to protect our natural environment, nothing can be more critical. I am incredibly proud of everyone at Vail Resorts for their ingenuity and dedication. While some folks may know the right thing to do, our folks went out and did it. What I am very impressed by is that our Company will accomplish these reductions and lessen our consumption of a valuable worldwide commodity, while at the same time we will be taking the experience we provide our guests up to a whole new level this year,” said Katz.

For more information about Vail Resorts’ “energy layoff” program or its other sustainable programs, visit www.vailresorts.com .
About Vail Resorts
Vail Resorts, Inc. is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resort properties at the Vail, Beaver Creek, Breckenridge and Keystone mountain resorts in Colorado, the Heavenly Ski Resort in the Lake Tahoe area of California and Nevada and the Grand Teton Lodge Company in Jackson Hole, Wyoming. The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties across the United States and the Caribbean. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com.

Breckenridge $5 million dollar sale!

2008-07-21T21:58:00.000-06:00

Wow! We have come along way since I first arrived 8 years ago. Check out article below:

This home near the base of Peak 8 in Breckenridge fetched a record price for Summit County.
Summit Daily News/Mark Fox

The most expensive home in Summit County history sold this week for $5.55 million, almost a million dollars more than the previous high.The 7,512 square foot, ski-in, ski-out home near Peak 8 is located at 312 Timber Trail Road, and comes completely furnished with seven bedrooms, 8-1/2 bathrooms, a three-car garage, an elevator, a cinema and a wine cellar — plus a few more creature comforts. “To build this house, you’re looking at $3 to 3.5 million,” said spokesperson Dan Corwin of Breckenridge Associates, explaining the high price. “We’re seeing prices hit these high levels, but in comparison, we’re still less than Vail and a whole lot less than Aspen.”The home sold for $738.82 per square foot, more than 25 percent less than the condos and townhomes selling at nearby Crystal Peaks lodge. Corwin explained that smaller units with more services, as you would get in a condo, are traditionally priced at a higher rate than single-family homes.Don’t expect this record to stay for long, though. Another house in the same subdivision is on the market for $5.9 million, and a nearby undeveloped lot is on the market for a record-setting $3.3 million.According to area real-estate agencies, single-family home prices have increased 4.2 percent in 2008; condos have bumped up 14.4 percent; and townhomes have risen 19 percent, while the pace of growth has slowed and inventory has increased.“We will see similar prices for that neighborhood coming up,” Corwin said, “barring any major economic shift.”The previous home-price record was set in 2007 at $4.8 million, according to the Summit County Assessor’s website.

Luxury Portfolio's Luxe Chatter: Record Sale Signals No Shortage of Luxury Home Buyers

2008-07-21T21:56:00.000-06:00

Interesting Article:

Portfolio's Luxe Chatter: Record Sale Signals No Shortage of Luxury Home Buyers

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RECENT RECORD SALE SIGNALS NO SHORTAGE OF LUXURY HOME BUYERS
MOST EXPENSIVE NEW LISTINGSJUNE 16-30

$22.9M – Atherton, CAAlain Pinel Realtors
$16.5M – Manhattan, NYHalstead Property, LLC
$14.9M – Manhattan, NYHalstead Property, LLC
$13.4M – Wellington, FLIllustrated Properties- Luxury Collection
$13.0669M – Chicago, ILRubloff, Inc.
$13M – Pebble Beach, CAAlain Pinel Realtors
$12.1M – Gypsum, COSlifer Smith & Frampton Real Estate
$11.5M – Dotsero, COSlifer Smith & Frampton Real Estate
$11M – Edwards, COSlifer Smith & Frampton Real Estate
$10.9M – Jupiter, FLIllustrated Properties- Luxury Collection
TOP CLOSINGS (REPORTED)JUNE 16-30
$17.9M – Greenwich, CTGreenwich Fine Properties
$6.999M – Sarasota, FLMichael Saunders & Company
$6.995M – Beaver Creek, COSlifer Smith & Frampton Real Estate
$5.995M – Greenwich, CTGreenwich Fine Properties
$4.95M – North Palm Beach, FLIllustrated Properties- Luxury Collection
$3.795 – Harrison, NYHoulihan Lawrence
$3.475M – Katonah, NYHoulihan Lawrence
$3.375M – Wrightsville Beach, NCIntracoastal Realty Corporation
$3.35 – Richmond, VAJoyner Fine Properties
Price on Req. – Quinta Do Lago, PTIRG International Realty Group

While some markets are struggling, the luxury market continues to flourish in many areas. Recently a new record for the highest sale in Belleair Beach, FL was set. Frank Malowany of Smith & Associates (St. Petersburg, FL) represented the buyer in this transaction. Originally listed at $16 million, t his stunning property is located on a two-acre bluff overlooking the intracostal waterway, with immaculate views of Clearwater Harbor and Sand Key. The buyer, who purchased the property as a primary residence, was in a position to purchase a higher priced home, but its ideal location, stunning architecture and unique characteristics were beyond desirable.
Malowany said, “The construction of the property was superior to most in the area. The buyer had an opportunity to purchase the property, which was unique and would have been nearly impossible to recreate for the money it was purchased at — an important criterion to think about when purchasing a home.” Frank concluded by explaining, “The Tampa Bay area is somewhat of an untapped, hidden gem, and this sale is indicative of the great values and immaculate properties that are available at implausible prices.”
The new record is reflection that there is still a high demand for luxury homes. If you have a story about a recent sale or unique listing, please send the details to communications@luxuryportfolio.com.
SOLD: EXTRAORDINARY PACIFIC HEIGHTS MANSION
In prime position atop one of San Francisco’s famous hills is the well-known affluent neighborhood of Pacific Heights. The area is home to many of the gorgeous city’s most prosperous citizens and significant luxury homes. One prestigious Pacific Heights mansion listed on LuxuryPortfol io.com has recently been sold. The extraordinary residence seamlessly combines elegant entertaining with comfortable family living amid a selection of the finest of features and finishes. The splendor begins immediately as you pass through the stylish iron entry gate. The reception foyer is highlighted by an elliptical staircase that climbs up to a stained glass dome modeled after Clinton Day’s famed City of Paris dome.Entertaining on a grand scale can be enjoyed in the music room with bay view, formal dining room or spacious and serene garden. An elevator leads to the upper floors, where more informal and private, yet still gracious living can be enjoyed.
This masterpiece that accommodates any style of luxury living was last listed at $19,750,000 by McGuire Real Estate. To view this magnificent property and other sold luxury homes, visit the Recent Luxury Home Sales page at LuxuryPortfolio.com.
NOTEWORTHY DEVELOPMENT: CAPELLA RESIDENCES BAHIA MAROMA
A recent survey showed that nearly half of Luxury Portfolio's consumers are interested in purchasing a second home in a resort community over the next three years. This statistic emphasizes the importance of positioning yourself as an expert in resort developments. Being knowledgeable about such opportunities also gives you new information to share with your clients, giving you new ways to stay in touch.The Luxury Portfolio Development Collection features the most noteworthy luxury developments worldwide. The Capella Residences Bahia Maroma is one of these elite developments. Situated alongside the Mayan Riviera — a stunning location with a full mile of pristine beaches overlooking the crystal clear waters of the Caribbean Sea and adjacent to the world’s second largest coral reef — the development is one of the most sought-after communities in the Mexican Riviera. Scheduled to debut in winter 2008-2009, a limited release of 35 luxury “Founder” residences are now available. Additional benefits are given to “the Founders,” including special pricing, expanded golf club memberships, special offerings in future Capella developments and preferential treatment at Capella Hotels and Resorts worldwide.
Owner privileges include membership to the private, oceanfront golf course — the only one of its kind in the Yucatan, designed by Rees Jones who was named one of the top five designers by Golf Digest. The holistically inspired Auriga spa — complete with sensory lagoon pools and bubble volcano waterfalls, state of the art fitness centers and elegant dining options are several highlights of this desirable community. Other amenities include a private beach club and ground level entry to Capella Hotels and Resorts. For more information about the Capella Residences Bahia Maroma, visit the Luxury Development Collection page at LuxuryPortfolio.com.
LUXURY DESIGNERTO KNOW: KENNE SHEPHERD INTERIOR DESIGN ARCHITECTURE
Kenne Shepherd Interior Design Architecture PLLC is a multi-disciplinary interior architectural firm that focuses on design for the luxury lifestyle. Recognized for creating sophisticated residential interiors with contemporary looks, clean lines, and luxurious materials, the firm offers architecture, interior design, decorating and purchasing services. In addition to their noteworthy contributions to residential design, the firm has also worked with elite clients that include Calvin Klein, Bergdorf Goodman and Salvatore Ferragamo.

With the use of the most forward technology and highest quality materials, their team of expert consultants can assist in creating the ultimate luxurious space. Whether you have recently purchased a new home or are simply redesigning an existing residence, the team at Kenne Shepherd can assist in creating the environment you desire.
For more information about Kenne Shepherd Interior Design Architecture PLLC, visit the Design Collection Partners page at LuxuryPortfolio.com.

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Sales Price vs List Price

2008-07-06T18:21:00.000-06:00

Many of my clients ask how is the market? Are there any deals? I start by going back to stats for this year. What is the average sales price to list price? Summit County is still hanging strong around the 96%. Click link to view chart. http://www.kayceetolmie.com/valuablelinksfiles/Junesplp.pdf

Summit County Foreclosures

2008-06-17T13:52:00.000-06:00

Many of my clients ask me about foreclosures in Summit County. It seems most are shocked to find that despite national news as to the real estate economy, we are very sheltered here. The foreclosure rate here is extremely low! It is 1/20th of a percent or .05%. That equates to only 1 in 1,995 homes. Here are some links that you may find useful on this topic as well:
http://www.realtytrac.com/MapSearch/FreeSearch.aspx

http://www.realtytrac.com/MapSearch/FreeSearch.aspx?a=b&a=b&searchType=state&statesel=co&accnt=137302

The next question my buyers ask is why. I could go on and on but here are a few of the many reasons.

1) 70% of properties here are second, third, investment properties where the lending guidelines are tighter to begin with. Also as of Dec 30% of all transactions were still cash. So the equity is there.

2) Supply and Demand. Simply what you see is what you get... unlike other parts of the country where new homes were being built at a rate that exceeded the demand, we are almost built out.

3) We are still a very affordable resort area in comparison to Vail, Aspen, Telluride etc.

If you are interested in looking for foreclosures, the best place is to go directly to the assessors page: http://www.co.summit.co.us/Treasurer/foreclosure_info.html

Kaycee

How I ended up in Summit County

2008-06-05T15:06:00.000-06:00

This is my very first blog.... When I was contemplating where to start, I realized I should begin with how I came to the place in my life where I began to call Summit County home.

I am from CA and had been living on the beach in San Diego for years. A good friend who I had met there decided to move to Boulder. I planned a vacation in October 2000 to visit her in Boulder. Immediately upon my arrival she was called away for a family emergency but offered for me to still stay and use her car to explore. I spent a few days in Boulder and had heard of Breckenridge so decided to take a drive up. I spent the day in awe of the beautiful mountains. That evening I stopped at the Breckenridge Brewery for dinner and when a group noticed I was eating alone, they offered for me to join them in a game of pool. I was so excited to meet "locals" and we chatted for hours about Summit County and how they arrived here too. Keep in mind that 70% of homes owned here are second/third home owners so most people aren't from here. Everyone has a story!

I drove around the next day and really felt home. I decided right then that I'd move here for the ski season and just enjoy mountain life! So here I am 8 years later. The saying in Summit County goes "you'll come for the winters and stay for the summers." The summers here are perfect! So while I still enjoy the winter activities it is the people who call this home and the summer days that really make Summit County so special to me.