Real Estate Information Archive

The local real estate markets are showing definite signs of a comeback. Take a look:

Real estate sales in 2010 in Eagle County showed signs of rebounding. Real estate transactions were up by one-third; total sales volume increased by two-thirds over 2009. Good chance this will spill over this year to surrounding areas like Summit and Lake Counties as it has in the past.  

Summit County sales volume was up about 3% and number of transactions was up about 6% over 2009. Currently we have 1325 active listings and 206 sold or under contract so far this year. That is a little more than a six month supply of homes on the market. Less than six months supply means a seller's market and potentially rising prices. That, coupled with interest rates rising the net cost to buyers appears to be rising. Sooner rather than later is the watchword now.

Colorado’s 48 rafting companies hosted 507,000 paying rafters in 2010, an increase of 16,500 over a year earlier and those rafters generated an estimated $150 million in economic impact, the second-highest economic impact behind the record year of 2007.

You can bet with snowfall about 1 1/2 times average so far that the rafting season this year will be one of the best ever. If you want thrills come mid May through mid June. It should be lots of fun most of the way through July though.

Oops, I forgot to tell you, in addition to affordability being at an all time high (earlier post today) the bad news is that interest rates are expected to go up, and stay up for a while. Check out this article by CNN Money News:http://money.cnn.com/2010/12/30/real_estate/mortgage_rate_spurt/index.htm

Get it while it's hot! Summit County Colorado Real Estate. Call us or inquire today.

Waiting to hear that we are at the bottom? Fantastic news for Summit County Colorado Buyers! Now is the time to buy. Check out this link where Jay Papasan, Keller Williams Realty, updates us on the news from the National Association or Realtors regarding home buying affordability being at a record high: http://www.youtube.com/watch?v=LmyHn9A2Ra8. Inventory is high and prices are low, come see us soon to take advantage of your window of opportunity.

Positive Perspective

Highlighting the Upside of the Economy in a Challenging Market presented by Land Title Guarantee Company...www.ltgc.com.

Denver Tops NYC, LA as Shopping Hot Spot: Denver is a hotter place to shop than New York, Los Angeles or San Francisco - at least according to a ranking by Forbes. Read more here

Trulia Intends to Hire 100 in Denver: Residential real estate website business Trulia Inc. on January 18th said it's expanding to Denver and plans to hire as many as 100 people here by year's end. Read more here

Fed's Beige Book Sees Continued Expansion in Colorado Region's Economy: The economy in Colorado and six neighboring states "continued to expand in late November and December, despite slower construction activity, "the U.S. Federal Reserve reported January 1z" in its latest "Beige Book" survey of the region's business executives. Read more here

Denver Tops List of Best Convention Spots: The Mile High City is tops in the world when it comes to places to hold a convention. Denver earned the designation from a panel of convention and meeting experts put together by Canada's largest newspaper, the Toronto Globe & Mail. Read more here

Colorado Ski Country USA Posts 10% Early-Season Skier-Visit Increase: Colorado Ski Country USA said Wednesday that its 22 member resorts saw a 10 percent increase in early-season daily skier visits from recession depressed levels of a year earlier. Read more here

CU Survey: Colorado Business Confidence Back to Pre-Recession Levels: The confidence level of Colorado business leaders has reached pre-recession levels for the second time in three quarters, according to the latest quarterly Leeds Business Confidence Index from the University of Colorado at Boulder's Leeds School of Business. Read more here

Optimism for the Winter Season in San Miguel: The Telluride Association of Realtors periodically reports on the latest real estate performance for our market. Most recently, we reported that the real estate market for San Miguel County has outperformed the previous year's quarter for four consecutive quarters in terms of sales volume and number of transactions. This data may well indicate that a bottom in the market was reached sometime early or in the middle of 2009. Read more here

Xiotech Corp. Moves Headquarters to Colorado Springs: A company that makes computer storage devices has moved its headquarters from Minnesota to Colorado Springs, where it has research operations. Read more here

Bridgepoint Education Close to Denver Lease: Bridgepoint Education Inc. of San Diego said it plans to open a new location in Denver and is expected to employ more than 500 people. Read more here

Inside Real Estate~ News/com

Land Title GUARANTEE CO.\1PANYWWW.1.TGC.CO·\\

www.insidereaiestatenews.com

Free Ski with a Ranger Tour...Friends of the Dillon Ranger District have partnered with Copper Mountain to offer free on-hill interpretive guided tours by a local ranger that aims to educated you on the local historical, cultural and natural history of Copper Mountain and Summit County.  You will also have the opportunity to learn about the role that Copper has adopted to protect the National Forests on which they operate.  All you need is a lift ticket and be an intermediate skier/rider ability.  Just meet at the top of the Timberline Lift every Friday at 11AM. 

A special Yoga Retreat, happening this weekend, January 29/30th, 2010.  Stretch for the slopes this season with a yoga retreat for skiers and boarders at Copper Mountain.  This workshop will teach you key poses to warm you up in the morning and stretch you out in the evening.  You'll also learn how to avoid injuries on the slopes.  Sat/Sun wake up to salute the snow with an hour long morning yoga class meant to clear the mind and wake up your body for your next run.   Saturday evening brings apres-ski-yoga: a restorative class that will leave you feeling relaxed and rejuvenated.  

Yoga classes + 3 healthy meals for only $150

Please register for the event by Friday, January 21st to ensure space for your yoga mat at ontheyogamat.com/copper or by calling (314) 680 6374.

For more information on condos/homes at Copper Mountain Resort, please visit www.YourSummitRealEstate.com.  Thanks...have a great weekend and ski safely!

Heating and cooling comprises 45% of the average dollar spent on energy.   Here are ten tips for the month of February to help you save those precious pennies:

1. Close your fireplace damper when the fireplace isn’t in use. By keeping your fireplace damper closed when not in use to prevent up to 5 percent heat loss. When using the fireplace, turn down your thermostat and open a window near the fireplace to prevent warm air from being pulled from other areas of your house.
2. Lower your thermostat setting during winter to 68 degrees. By reducing the indoor thermostat temperature from 72 to 68 degrees during the heating season you can save approximately 5 percent on heating costs.
3. Repair leaky faucets, especially those supplying hot water. One drop per second from a leaky faucet wastes up to 400 gallons of water a year. Not only is water being wasted, but so is the energy used to heat the water.
4. Caulk and weather strip around pipes, ducts and vents. Plug gaps around pipes, ducts and vents that go through walls to prevent losing heated air and having cold air drawn in to replace it. Caulk or seal plumbing and wiring holes at ceiling level. Add weather-stripping to doors and windows for
   the most cost-efficient way to protect your home.
5. Run the dishwasher only when it’s full. Get in the habit of running your dishwasher only when it’s full to maximize energy use.
6. Seal window leaks around your home. By sealing leaky ducts with mastic, metal-backed tape or aerosol sealant this will reduce heat loss when your furnace is on and may last longer than duct tape.
7. Install or add attic insulation if existing insulation is less
   than six inches thick. Poor or no insulation means losing up to 25 percent of your heating energy. Your attic needs at least six inches of insulation. Insulate crawl spaces, walls, floors and heating ducts to save money and increase your comfort.
8. Install a programmable thermostat to automatically
   adjust your home’s temperature with your daily routine. This device can save as much as 20 percent on
   heating costs by automatically turning your heating
   system up or down to coincide with your daily routine. For example, set your thermostat to 60 degrees for the night and while you are away.
9. Have your furnace regularly maintained by a professional. Regular furnace maintenance can reduce energy costs between $18 and $60 each winter with an 80 percent efficient furnace in a 1,600-squarefoot home.
10. Raise and lower window coverings to allow heat in during
    cold weather and keep heat out during hot weather. Open drapes on south-facing windows when it is sunny. At night, close drapes to retain heat. Close drapes to provide insulation where windows receive no direct sunlight. Up to 15 percent of your heat can escape through unprotected windows.

These few tips are brought to you by Xcel Energy...see this website for even more tips....http://www.xcelenergy.com/SiteCollectionDocuments/60_Ways.pdf

The pending home sales contracts moved higher than expected in December, 2010 after a revision lower in November, 2010 according to the National Association of Realtors Pending Homes Sales Index which is based on contracts signed in December.  The percentage was up almost 2% to 93.7% from a revised November reading of 91. 9% in November, 2010.  The expected number was 1.0% so this is good news to us.  However, this number is 4.2% lower than the level of 97.8% a year ago.  

Lawrence Yun, NAR’s chief economist, said the latest figures suggest sales activity is close to a 5 million units annually which is a healthy level. Yun also noted, “Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers.”  

Here in Summit County, Colorado as of today, we have 1442 listings for properties to be sold…out of this 130 are currently under contract.  That's almost 9% of our listings, a sure sign activity is picking up here in the county. 

Interested in resort property ownership so you can enjoy our playground year-round?  Please see our website...www.YourSummitRealEstate.com for additional information or give us a call at 970.368.7000.  

What an amazing week of weather we have had!  Summit County has received tons of snow for January with the ski areas reporting huge amounts of the white gold. Breckenridge over the last 7 days has received from the snow gods 60” of new snow, Copper Mountain reports 47”, Keystone is reporting 30” and Loveland has received 48“.  The conditions are amazing and if you were waiting for the perfect time to take a ski or ride trip now is the time.  Historically this is one of the slowest times of the season so you won’t have to fight the crowds.  While your here why not give your legs a break for an afternoon and find the Mountain Home you have always dreamed of.  Prices are stable but the activity is picking up.  Many feel that the bottom has been reached and prices will start creeping up. Don’t miss out on the right time to buy!

Is the turnaround for real? This morning mortgage bonds are lower after seeing better than expected Initial Jobless Claims, and a positive Existing Home Sales report.

Initial Jobless Claims dropped by 37,000 to 404,000, below the expectations of 425,000; additionally the 4 week moving average dropped by 4,000 to 411,750. All signs of movement in the right direction for the economy and the labor market, but remember good news for the economy, typically leads to higher rates for mortgages.

Here are the highlights from the December Existing Home Sales Report:

Existing-home sales jumped 12.3% to 5.28 million
Single-family home sales rose 11.8%
Condo sales rose 16.4%
National median existing-home price (for all types) was $168,800
Total housing inventory fell 4.2% to 3.56 million homes available, representing an 8.1 mount supply
Distressed properties rose to claim 36% of the market
Investors accounted for 20% of sales
Cash buyers accounted for 29% of sales

"They always say time changes things, but you actually have to change them yourself." -Andy Warhol

Statistics courtesy of                                                                                               Diane Beaumont
Branch Manager
Benchmark Mortgage
Phone: (719) 687-2112