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Summit County Real Estate Update
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The Fall Selling Season is Here: It's the start of the 3rd quarter and average sold prices for residential properties in Summit County are up 8% this year. However, the number of sales is down 8% so far. The average days on the market are 52 for the 1277 sales in Summit County and the list-to-sold price for those sales is 98%.
Inventory: The availability of properties for sale has dropped about 8% from the end of August through October 9. That 8% accounts for 57 properties that have either sold, gone under contract, or the owner has taken them off the market.
Number of Sales: Although sales are down 8%, Silverthorne and Frisco sales have gained slightly, and Dillon's gain is close to 30%! Copper Mountain, Keystone, and Breckenridge are showing a double-digit loss in sold properties.
Interesting County Sales Distribution: 65% of sales have occurred on the north side of the county (Copper, Frisco, Dillon, Keystone, and Silverthorne) with the remaining 35% in the south (Breckenridge).
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| Financial Mistakes to Avoid When Buying a Home |
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A home purchase is likely one of the largest financial investments you'll make in your lifetime. For the best financial outcomes, avoid the following mistakes.
Taking on too much: You think you've found your dream home, but it's outside your housing budget. So, you try to stretch that budget and simply take out a bigger mortgage. This decision can be disastrous. Taking on more debt than you can afford will leave you struggling to pay utilities and possibly zap other financial goals. A good rule of thumb is to limit the cost of your house payment (including taxes, insurance and any HOA fees) to 25 percent of your take home pay.
Skipping the preapproval: Getting preapproved will provide guidelines for what you can realistically afford. It will also give you a financial advantage when negotiating for a home. Sellers prefer to work with buyers that
they know can afford their home, so get preapproved before you shop, so you can submit your preapproval with any offers.
Skimping on the down payment: The more money you pay up front, the less interest you'll pay over time. If you save at least 20 percent for a down payment, you can also avoid Private Mortgage Insurance (PMI), which protects lenders when a buyer has little equity in the home. And don't forget to include closing costs and moving expenses as you save up for your new home.
Going it alone: An experienced agent helps you determine a reasonable price for any home you are considering. I can also help you negotiate the best price for the home. The seller pays my commission, so you get all the expertise at no cost to you. When you're ready to start your home search, just give me a call! |
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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.
Just call my cell 970-390-9311 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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| Should It Stay or Should It Go with You? |
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Moving is an immense undertaking. Among the myriad tasks on your plate are decisions about what to take with you when you move. Should you bring those living room curtains, or let the new owner enjoy them? Should you try to bring Spidey, your favorite houseplant, to your new home? Following are a few things that most homeowners are better off leaving behind when they move.
Household documents: Do you still have the manual for your refrigerator? Did the furnace you installed last year come with a ten-year warranty? If you have any documents that relate to structural components, utilities, or appliances that are staying with the home, leave them for the new owner.
Curtains: You may have chosen the perfect bedroom curtains to match your comforter, but taking curtains with you when you move is usually not worth the hassle. The window
coverings aren't likely to fit your new windows, and buyers typically appreciate when they are included in the price of the home.
Paint: Do you have a stash of old paint cans from previous renovations? Buyers will appreciate having those on hand to complete touch-ups. Place the cans in a location where the new owners can easily access them. If you discover the buyers do not want the paint, check local regulations about proper disposal and follow those procedures before you move.
Houseplants: If you're moving a long distance, try to find homes for your houseplants rather than transport them to your new location. The conditions in a moving truck aren't conducive to plant life, and the plants are likely to get damaged or die during the move.
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Happy Halloween!
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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 |
October 20. Craft and Cocktails Fair. 10 of Summit County's best artisans will take over our Grand Barrel Room for the Crafts and Cocktails Fair. Shop for locally hand-crafted goods while you sip on delicious cocktails. Breckenridge Distillery. 1925 Airport Road.
October 25.7:30 p.m. David Sedaris at the Riverwalk Center.
October 27. 4 - 7 p.m. Sunday Night Jam Session. Come on down and jam with a band on Sunday nights! Every Sunday there is an open studio jam where you can experience the thrill of playing with other musicians! The Hangar Bar & Grill. 1900 Airport Road.
Through October 27. Sweeney Todd, the Demon Barber of Fleet Street at the Backstage Theatre.
October 31, 7:30 p.m. Haunted Tour. Guides
share eerie stories from Breckenridge’s past (by lantern light), which remain unexplained today! $20/adult, $15/child. |
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| Ask Kelli: |
How do I know if a property is a good deal?
I can research the market for you to determine a fair price for a property. I will pull "comps" (comparable properties) from the multiple listing service to see what similar properties have sold for in the area. This comparison will also include the prices of other homes currently on the market.
I will review the size, location, and other features of the home to determine what other properties are comparable, then I can figure out the home's approximate value in the current market.
We can then compare this value to the current asking price to determine if the property is priced too high, just right, or is a good deal. If you decide to move forward with the property, I can also use this information to help you negotiate the best price possible for the home. |
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