This is an incredible opportunity for the already lowest priced riverfront Shores residence. Current contract holder will RELEASE $125,000 of her earnest money at closing for any buyer that assumes her contract! The $125k credit will reflect a $1,640,000 acquisition price which is $255k below the unit next door! Read More....
This is a contractual assignment sale. The current contract holder has been allowed to assign their contractual interest by the developer. This new residence has direct access to National Forest & Blue River. Enjoy living near everything Summit County has to offer in this newly designed residence with clean transitional interiors to include modern stone finishes, hardwood, granite, stainless steel, refined kitchen & bath designs coupled with outdoor living. See More Information on this Home HERE.
I've put together these free guides based on over 5000 resources of economists, investment strategists and market analysts to provide relevant information that can help answer many of the questions you have. Download our Winter 2019 Guide to Buying.
Breckenridge Spring Fever is back! Spring in Breckenridge is widely known for having the best snow in Colorado, along with sunny bluebird days, special events, and great deals for guests from around the world. There’s no better way to send off the season than with Breckenridge’s Spring Fever.
St. Patrick's Day Celebrations!
St. Patty’s Day is on a Sunday this year which means there will be St. Patrick’s Day celebrations all weekend long! Plan to wear green on the mountain and keep an eye out for food and drink specials around town. Looking to burn a few calories before indulging in some green beer? Don’t miss the St. Patrick’s Day 5K.
Breckenridge Brewery is bringing Ireland to Colorado by giving a local restaurant an Irish makeover and turning it into North America’s “highest Irish Pub” at a whopping 10,010 feet above sea level. Sevens, the on-mountain restaurant at Breckenridge Ski Resort will be renamed O’Sevens for the month of March in honor of St. Patty’s Day, and will be hosting a variety of Irish festivities. They are also hiding gold cans in their new 12 packs of Nitro Irish Stout from now to St. Patty’s Day and anyone who “strikes gold” can enter to win a trip to Ireland!
Breckenridge Spring Beer Festival - April 6
The Breckenridge Spring Beer Festival is one of the coolest events of the spring in the Colorado Rockies! Featuring brews, views and free live music, the Breckenridge Spring Beer Festival is an event you don’t want to miss. DON’T FORGET YOUR CRAZY COSTUME FOR THE BRECK BEER FEST!
Imperial Challenge - April 13
The 2019 Imperial Challenge… the most unique pseudo-triathlon anywhere enters its 28th year! Ride your bike 6 miles from the Breckenridge Rec Center to the base of Peak 7 at the Breckenridge Ski Resort. Ascend on your choice of gear to either the top of the T-bar (Sport Course 2500’) or to the top of Peak 8 (Expert Course 3000’).
Easter Celebration - April 21
Get ready for an egg-celent day in Breckenridge! For one day this season, there’ll be bunny on the slopes! Join us in Breckenridge for a Sunrise Easter service at Tenmile Station and other Easter festivities around town. Easter is one of the spring events in Breckenridge that is perfect for the whole family to enjoy.
Breck Plunge - April 21 (although can be moved to closing day!)
The Breck Plunge pond skim event will help kick off the Resort’s extended 2018-19 season with a splash, April 21st, 2019. Join the fun at the base of Peak 8 with live music, food, drinks and great people!
Just like our clocks this past weekend, in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale has been holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest. Traditionally, they would have been right. Buyer demand has seasonality to it. Usually, this falls off in the winter months, especially in areas impacted by arctic conditions (like Summit County).
Demand for housing has remained strong as mortgage rates have remained near historic lows. Even with an increase in rates forecasted for 2019, buyers are increasingly jumping off the fence and into the market to secure a lower rate.
It is worth noting that some softening of sales was anticipated, as was a positive sales bounce during January 2019 after a slow end to 2018. Weather-related events have hampered some of the necessary machinations of making home sales during February 2019, yet buyers have shown determination toward achieving their home ownership goals.
Many sellers believe that spring is the best time to place their homes on the market because buyer demand traditionally increases at that time of year, but what they don’t realize is that if every homeowner believes the same thing, then that is when they will have the most competition!
Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months’ supply of listings from the Summit Association of Realtors
As you can see, the ‘sweet spot’ to list your home for the most exposure naturally occurs in the late fall and winter months (November – February).
Temperatures aren’t the only thing that heats up in the spring – so do listings!
Added Bonus: Only Serious Buyers Are Out in the Winter
At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.
If you have been debating whether or not to sell your home and are curious about market conditions in your area, let’s get together to help you decide the best time to list your house for sale.
Home prices are on the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash?
Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market.
The Impact of Rising Interest Rates
We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and probably wouldn’t this time either. Freddie Mac’s comments were very direct:
“In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”
They were correct. So far this year, home values have continued to appreciate above normal historic percentages and it appears the gradual increase in rates has had little impact on prices.
The Impact of an Economic Slowdown
Many people fear that when the economy turns, we may see the same depreciation in home values as we did a decade ago.
However, we recently reported that the same group of economists, real estate experts, and investment & market strategists who predicted the next recession will occur in the next 18-24 months have also projected that house prices will continue to appreciate for the next five years, albeit at smaller percentages.
It Comes Down to Supply and Demand
As always, home prices will be determined by the demand to purchase compared to the
available inventory of homes for sale. For the last six years, demand has far exceeded the available supply which has resulted in the average annual appreciation to top 6% since 2012.
That is far greater than the historic norm of 3.6% annual appreciation that we saw prior to the housing boom.
There are currently small signs that housing inventory is slowly beginning to increase. Months supply of homes for sale increased as compared to last year over the last 5 months after 36 consecutive months of decreasing inventory. New construction data has also shown positive signs that inventory will be increasing.
As inventory begins to meet demand, we will see appreciation return to more normal levels.
We are already seeing projections coming in lower than the 6.6% annual average we have
seen more recently.
CoreLogic is predicting that home values will appreciate by 4.7% over the next twelve months.
Mark Fleming, Chief Economist at First American, explained it best:
“We’re seeing the first indications that price appreciation may be slowing, but the underlying fundamental housing market conditions support a natural moderation
of house prices rather than a sharp decline.”