Summit County Real Estate Blog

Hope your winter is going well…we are having some of the best skiing we have had in years. The snow is terrific!

After putting together more statistics, I found it very interesting looking back over our ‘real estate’ sales shoulder at what has been happening in our market over the past five years. Here are some interesting tidbits….

If one would of purchased an average priced property in Summit County in 2003 they would of realized an average gain of $198,495! By town that average gain would look like this: Breckenridge - $272,639, Frisco - $215,356, Silverthorne - $179,915, Dillon - $85,644, Copper $124,640 and Keystone $146,668.

In Summit County that comes to an average of $40,000 a year for five years one gained simply by owning an average property in Summit County that five years period. That is more than most people make in a year and has been gained or reaped simply by taking on the risk of ownership in our little neck of the woods.

You will find the above as well as much more detail in the statistics online at www.ColoradoMtnRealEstate.com .  Let me know if I can do anything further for you at this point in time. And be sure to contact me when you are ready to buy or sell in this area, or if you know someone who is…

Have a wonderful day.

Jeff Angell
Broker/Owner
RE/MAX Properties of the Summit/Frisco

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The number of days it takes to sell a piece of real estate in Summit County has decreased and the average sale price has increased!

The highest average days to sell decrease occurred in Copper Mountain where the average number of days went down 42% while the highest sale price increase occurred in Silverthorne at 11.84%. There are two exceptions to this though, in Breckenridge it now takes 14% longer to sell and in Frisco the average sold price is actually down 8.59% through June 15^th. To View the stats online click here.

The number of properties closed did decrease a substantial percent - 37% for all of Summit County. Within the various MLS areas Dillon & Copper Mountain tie for the lead with a 50% decrease with Frisco coming in second with a 40% decrease and Keystone third with a 36% decrease. The numbers above are all based upon closings that occurred Jan 1 - June 15 08 vrs 07.

Speaking of sales, where are all the sales YTD through 6/20/08.

Eighty percent of the sales in Frisco, Keystone, Copper Mountain, Silverthorne are generally under $750,000. While in Breckenridge 80% of the sales are below $1,000,000 and in Dillon 80% of the sales are below $500,000. To view these stats online click here.

How does that same 80% sold level compare with what is currently on the market?

Interesting to note that in each area the 80% on the market approximately pushes the price level up as follows: Frisco, Silverthorne and Copper Mountain have 80% of their active listings priced under $1,000,000 while Dillon’s are priced under $750,000 and Breckenridge and Keystone have 80% of their listings priced under $1,500,000.

If we now look at the number of properties on the market compared to what has closed through 6/20/2008 and then speculating that we have around 2/3’s of the year’s sales left to go during the summer and fall (our busiest time of year) we come across some more interesting numbers.

Frisco had 52 sales with 117 currently on the market and using that 1/3 - 2/3 method shows that Frisco will have 104 more closings yet this year - which pretty much uses up the current supply of listings. In other words, we (Frisco) have just enough listings to get us through the rest of the year - it looks like we need more listings! What are the other areas like? Frisco, Silverthorne and Dillon are all in the same boat with practically the exact same ratio as Frisco and Keystone doesn’t have enough to make it through the year! Breckenridge and Copper Mountain are looking at a substantial surplus of listings for sale with about 50% extra.

Of course all these are simply numbers. Facts for what has happened and good basis for predicting what may happen in the future - but, a prediction none the less. Overall the numbers simply say that the sales are there, the market is there and all in all our real estate summer sales season is looking very strong.

Remember to view the June 23rd Stats Click Here and to view the June 15th Stats Click Here.

Enjoy your summer and if you are thinking of getting involved in Summit County real estate (Breckenridge, Frisco, Copper, Keystone, Silverthorne, Dillon) now may be a much better time than waiting until later this year.

Questions. Need more detail. Have a referral. Contact Jeff via email at Mail@JeffAngell.com. And if you like you can read this article on line at http://www.coloradomtnrealestate.com/artman/publish/summit-county-stats-june08.html .

Thank you,

Interested in more resort information or statistics? Want to know a little more detail or something specific…simply contact The Angells and we will provide you with the information you desire on Summit County: Breckenridge, Frisco, Keystone, Copper Mountain, Dillon and Silverthorne.

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I just started putting some other stats together and it looks like the average Summit County Single Family Home sales price in 2007 was $927,315; which is a 17% increase over 2006! Condominiums for Summit County averaged $384,831 for a 31% increase over 2006!

I’ll get more detailed information out later in January. Of course, if you want something specific right now, just send me an email with your request.

Happy 2008 and have a great rest of the day.

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Convenience is what home buyers want.

The majority of home buyers polled agreed that one stop shopping would make the home buying process easier and that same group also agreed that they would consider using one stop shopping when purchasing a home. In fact, a lot of home buyers don’t know that some real estate companies offer various forms of one stop shopping such as home mortgage services. The same home buyers agreed that when they learned the option was available they wanted to utilize the service (from a recent survey conducted in 2008 by the National Association of Realtors).

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First Resort Lending, a local lender with in depth knowledge of loans and lending in Summit County coupled with one-on-one service provides the buyer with a very unique lending opportunity. Offering lending options, refinancing and stellar service in all of Summit County and the surrounding areas including Breckenridge, Frisco, Copper Mountain, Keystone, Dillon and Silverthorne.

First Resort Lending is a joint venture between Firstbank of Colorado (Colorado’s largest locally owned banking organization) and RE/MAX Properties of the Summit (Summit County’s leading real estate firm). Firstbank has been providing full service banking for over 40 years and RE/MAX Properties of the Summit just celebrated their 20th anniversary in the spring of 2007!

This is a fantastic opportunity to provide a better service and true “One Stop Shopping” and who better to do that than RE/MAX (us) and First Bank: both extremely respected service oriented companies with above board business philosophies that have grown along with the community over the past 20 years! In fact, both RE/MAX and First Bank have had their positive presence in Summit County for about the same amount of time - since the 80’s.

With the backing of Firstbank in Colorado, First Resort Lending is capable of offering a variety of products to meet borrowers needs - a full service bank with local personnel, local decisions and outstanding service.

Some benefits to buyers include:

• Personal, timely, reputable, up-front counseling eliminating costly surprises.
• Experienced mortgage consultant capable of finding the right mortgage for a buyer’s specific needs.
• Fast, friendly, one-on-one local service, local decisions; giving you a faster response, direct feedback and a better understanding of the local overall mortgage process.
• Local knowledge and the ability to perform on loans and properties locally as well as the proven history of performance - no delays or not being able to lend at the last moment due to the property.
• Work with local appraisers that are aware of the local real estate values and the fact that they are on the rise; coupled with the knowledge of what added value location, views and amenities means in today resort real estate market. Not working with someone that has local knowledge can and has caused poor appraisals that in turn can cause delays or even contract termination.

Being comfortable in the fact First Resort Lending has the proven capability, local knowledge, is operated with integrity and performs at an outstanding business level; while at the same time has just about any loan program available as well as the ability to get the loan done that the buyer needs is extremely important. Be sure to ask about the opportunity to take advantage of this special and very unique service in Summit County.

With the majority of RE/MAX’s business coming from repeat and referral it is very important that the entire purchase process go as smoothly as possible and selecting the right lender that can complete the transaction with relative ease is a key element to a successful purchase.

Your successful purchase is important to us.

Learn more about rates.

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RE/MAX Properties of the Summit will again sponsor the 2008 Tubbs Snowshoe Romp to Stomp Out Breast Cancer held at the Frisco Nordic Center. Last years snowshoe attracted close to 2,000 participants and raised just over $90,000 for Komen for the cure.

This years annual event scheduled for March 8th is anticipated to bring in over $100,000! RE/MAX Properties of the Summit is proud to be a sponsor of such a worth while cause. Last fall, RE/MAX International introduced the “Sold for the Cure” program enabling RE/MAX Associates to make voluntary contributions to Koman for the Cure.

Money and donations from the Romp go toward the Denver affiliate for Susan G. Komen for the Cure.

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