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Summit County Real Estate Update
Historic Sales: The graph above shows Summit County sales for the first 7 months of the past 20 years. Sales have fluctuated, with the highest number of sales occurring in the first 8 or so years and the highest sold prices occurring in the last few years. Sold prices have continued to rise over the past few years while the number of sales has started to decline.
Inventory Continued to Soar in July: The local inventory of properties for sale has been increasing as it usually does this time of year, but in the months of June and July it soared! The active inventory of residential properties in Summit County went up by 37% during June and July and buyers have a couple hundred more properties to pick and choose from than they did at the end of May.
Real Estate Sales through July 31: The number of sales dropped 10%. It is taking about the same amount of time to sell a property this year as last year and the average sold price is up 7%.
Condominium Sales: Prices are up about 6% with the number of sales down about 5%.
Single Family Home Sales: Prices are up about 15% with the number of sales down about 16%.
Selling Season: The selling season for real estate between now and the end of September will typically be the strongest in the year...peaking towards the end of August. |
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| Remodels: What's Good for Resale and What's Not |
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You want to get the best price for your house and you're willing to do some remodeling if it will deliver significant ROI. What's worth the effort? Here are three projects worth considering and three that you can skip.
The Best Bets for Your Dollar
The kitchen: Kitchens sell homes. If your culinary center is looking worse for the wear, it will likely turn off potential buyers. Updating your kitchen is a good way to increase the value and appeal of your home.
Bathrooms: These areas are also high on buyers' priority lists, so they should be on yours, too. Focus efforts on the master bath and the powder room.
Curb appeal: First impressions are important and the front of your home is the first thing buyers see. Undertake projects that will boost curb appeal, such as repainting the exterior, adding plants, and sprucing up the
entry with a new door. These projects can often be completed at low cost but offer high return.
Not so Much
Pools: While you may enjoy countless hours of fun in your pool, it probably won't pay for itself in increased home value. It may even be a turnoff for some buyers.
Wine rooms: Wine rooms or other original design spaces are often too specific to appeal to many buyers. Their limited audience makes them a poor investment choice.
Removals: Just because you never use that fireplace doesn't mean you should demolish it. Removing features is typically not a good investment. Potential buyers may wish it was still there, and you aren't likely to recoup the cost of removing it.
I will help you choose the projects that may help you get the best return on investment based on what I've seen in demand throughout Summit County. |
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| Wondering What’s Happening in Your Neighborhood? |
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How has the price of your home changed in today's market? How much are other homes in your neighborhood selling for? Do I need a house inspection? These are all critical questions that shouldn't be overlooked when thinking about buying or selling your home.
If you’re wondering about prices in your area, or thinking of selling your home, I can help.
Just call my office at 800-289-7005 or email me at kelli@kellisells.com for a professional price analysis. There is absolutely no obligation.
I’ll give you honest feedback about the value of your home. And I’ll also give you the inside scoop on what’s happening in the housing market in Breckenridge, Dillon, Frisco, Silverthorne and Keystone.
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| Property Appeal: What Makes a Home Safe? |
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Location. Layout. Landscaping. There are a host of features that affect a property's appeal. One quality that tops many "must-have" lists is safety. What should buyers look for if they want a home that offers the best safety possible for themselves and their families?
Several features can improve the safety of a home to make it more desirable. As a bonus, these devices can also reduce the cost of insuring your home. If you want to modernize your home with innovative safety measures, or are looking for a new home with the latest safety features, consider these list toppers.
Smart Devices: The internet of things has taken home security and convenience to a new level. Homeowners are empowered with a host of tools and systems to keep their homes safe. In fact, technology has become so prevalent that few items aren't equipped with smart
features. Appliances offer improved safety and efficiency. Garage doors offer additional security. High-tech lawn systems prevent overwatering and flooding. A few devices are particularly desirable for homeowners interested in boosting the safety of their surroundings. These include:
Water alerts: Did you know one of the most common homeowners insurance claims is for water damage? Smart leak-detection sensors can now prevent these calamities. They alert homeowners to leaks so they can take immediate action to prevent damage.
Fire detection: What happens if no one is home to hear the smoke detector? A smart fire detector will alert a homeowner via a Wi-Fi-connected device anywhere in the world. This can improve emergency response times and minimize damage.
Burglar deterrents: Smart technology has enhanced security on many fronts. Homeowners can deter thieves with timed lighting, access smart door locks to maintain tighter
security, and monitor video surveillance from anywhere.
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Kelli Bennett
RE/MAX Properties of the Summit
220 South Main Street
P.O. Box 4600
Breckenridge CO 80424
970-390-9311 Cell
800-289-7005 Office
970-453-7365 Fax |
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| www.kellisells.com |
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| kelli@kellisells.com |
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| License # 40008935 |
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Breckenridge Events
August 9 - 19. International Festival of Arts. A celebration of adventure, play and creativity with dozens of scheduled events showcased at venues throughout town.
August 23 - 25. Hogfest: Bacon and Bourbon. Meat connoisseurs will be able to taste their way through a spectrum of pork samples, premium whiskeys, single malt scotches and barrel-aged spirits while enjoying live music and mixology below Peak Nine.
August 31 - September 2. Great Divide Arts Festival. Featuring over 100 artists including photography, wood, glass, jewelry and pottery. Main Street at Wellington. |
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| Thinking of Buying a Home? Get My Free Guide |
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Buying a home is a complex process with many factors to consider.
Prepare for the decisions you'll need to make along the way by requesting my free report, "10 Easy Steps to Buying a Home." |
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| Just call me and I'll send it right out to you. |
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| Click here to see a web copy of this newsletter |
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| Ask Kelli: |
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How do I know if I've found the right house?
To determine whether a home is right for you, ask yourself a couple of key questions about each property.
Does the home meet my must-haves? Write down a few options that a property must offer, and stick to those priorities to determine if a home is a good fit.
Does the home offer potential? Consider your future needs. If you're planning any life changes, keep those in mind. If it meets all your must-haves but is lacking a few wants, does it have potential? For example, paint colors and carpeting can be changed. The number of bedrooms is harder to adjust.
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