Breckenridge Summit County real estate blog, Colorado news

With the shrinking amount of available private land in Summit County, developers are looking at unconventional areas. Silverthorne town council gave its initial approval to Silver Trout Estates, which is a proposed development on 12 acres between the private fishing lake in Eagle’s Nest and the Blue River in Silverthorne. It would be made up of 14 duplexes and a triplet, marketed to second-home owners, and priced beginning in the $900,000. The high price comes because there isn’t much riverfront property left in Silverthorne. The land is located in the 100-year floodplain, so builders will have to fill in the area with at least one foot of dirt. Even so, if the 100-year flood occurred, the homes would see water. There’s a 1% chance a flood will happen in any given year. Now the Federal Emergency Management Agency needs to approve the plan, and developers need to show impacts on the surrounding wetland.

Silverthorne real estate

Tags: New developments

Measure 1A, which proposed a property tax increase throughout Summit County, passed Nov. 4, despite most people’s thought that it would not.

Extra money from increased property taxes will go toward wildfire mitigation, open space and other needed services in Summit County.

However, the additional revenue stream won’t begin until 2010.

Tags: property tax

Intrawest, which owns Copper Mountain, narrowly avoided bankruptcy by refinancing a $1.7 billion loan Oct. 23. CEO Bill Jensen said it was challenging to get a new loan with the state of the credit market. The loan terms the company got will cost more, which may cause stress on Intrawest’s financials, creating possible declines in capital investments or services.

Though the average price of homes from Steamboat to Vail to Summit increased in the summer of 2008, buyers are looking for bargains, and developers are a little skittish.
People who have cash to pay for properties are asking for price reductions in Steamboat Springs — and sellers are agreeing because they’re worried about other buyers’ abilities to  secure mortgages. Read more »

Tags: Breckenridge real estate

Federal inspectors will rate the Lake Dillon Fire Rescue’s communication systems, firefighting operations and department protocol at the end of September.
If the evaluations come in lower, or higher, than the last inspection in 1999, homeowners’ insurance premiums are usually affected. In 1999, home inspectors of the Insurance Service Office gave the fire district a weak rating, which is common in smaller communities with high fire danger. However, Lake Dillon has improved its response time significantly since 1999. Once the evaluation is done, it can take a couple months to find out how the score will affect premiums.

Real estate Breckenridge

The mayor and treasurer of Blue River support a ballot issue aimed at increasing Blue River property owners’ average tax bill by at least $41, but in the town known for residents who resist taxes, people opposing the measure have become vocal.

Allyn Mosher, the town treasurer, says the extra money is crucial for the town. But even council members disagree.

The measure would eliminate the current 12.29 mill levy, in place since 1995, and give the town authority to set the amount, as long as it didn’t go over Colorado’s limit of 5.5% increase annually. Approval could mean $33,800 more for Blue River next year. But in 2007, the town asked voters for a tax hike, and they didn’t approve it. The money would have built another bridge, creating an alternative route for residents to get out of town in case of emergency. Currently, property taxes contribute to approximately 2/3 of Blue River‘s nearly $712,000 budget.
Opposition to the bill want to see the town decrease its spending.

All Summit County mls search

Tags: taxes

According to Land Title Guarantee Company, the number of sales is continuing to decline. But the good news is that the values of homes continue to go up, although not as quickly as they did from 2006 to 2007.

In general, Summit County real estate is still strong, despite economic problems throughout the nation. Read more »

Tags: Summit county real estate

It’s always hard to say for certain when the best time to buy or sell real estate is, but right now people who want to purchase real estate in Summit County have a lot of strong incentives. First of all, interest rates are great; the already low rates have decreased by about a half percent since the government took over Fannie Mae and Freddie Mac. Now is the time to lock in a favorable interest rate on your property. Read more »

Tags: buyers, economy, fannie mae and freddie mac, market, Summit county real estate

You will find five worksheets within this spreadsheet:

Monthly Comparison- Shows the Monthly Gross Volume Comparison Transactions for each county through July 2008. It also shows the Gross Transaction Report Summary YTD 2008, YTD 2007, YTD 2006 and full years of 2005 and 2004.

Gross Volume for New Construction-The % Gross number compares the YTD Gross Volume of New Construction to the YTD Gross Overall Volume for 2008.

for 2007, it’s a full year on both. It does not compare the number of sales – rather the total sales volume in these categories.

Gross Number of Transactions-YTD 2008 and Full Year 2007.

Single Family Summary-Average Single Family Home YTD 2008, # of Transactions YTD for Single Family Homes and Full Year of 2007.

Of Interest-New Construction Sales Summary: 2008 through 2006, Residential Unit Distribution by Price Point from 2007 Assessment of Actual Value, and the Median Home Price Summary 2007 vs.2006.

Summit County mls search

Tags: statistics, Summit county real estate

After years of back and forth meetings with county commissioners, the county finally approved Copper’s plan to redevelop the resort’s base. The plan includes a redesign of the golf course, new condos and a hotel near the chapel lot and condos near the A-Lift. About 50 Copper Mountain homeowners showed disapproval of the plan because it could interfere with their views and lifestyle.

As part of the plan, some of Copper’s transfer tax will go to the county.

Tags: condos, Copper Mountain, Summit county real estate