Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 10

102F Buffalo Ridge Condominiums - Coming Soon!

by The Mountain Living Team

Located at the top of Wildernest, this 2 bedroom condo enjoys nice mountain views and has National Forest trails right outside the door.  It's a great location for your Summit County home.  

You'll enjoy the indoors here too.  Only one flight up from the assigned carport to this open and bright condo.  The large windows bring in natural light and showcase the mountain views off in the distance.  It's perfect for year round fun.  You can snuggle up in front of the wood burning fireplace in the winter months or kick back on the sunny deck any time of year.  

The high end bathrooms are sure to impress.  Both the main, full bath and the 3/4, master bath have granite counters, tile floors and showers, new fixtures, and custom cabinets.

HOA dues of $446/mo cover all your utilities, snow plowing, cable TV and access to four clubhouses.  You can enjoy swimming pools, hot tubs, volleyball, racquet ball, tennis, billiards or ping pong all without leaving the area.

There aren't any other Buffalo Ridge Condos on the market now and only 3 two bedroom condos on the market in all of Silverthorne.  Don't forget, this one has covered parking too.  That's an absolute luxury in Summit County!

The Mesa Cortina neighborhood in Silverthorne

by Meredith Adams

Cortina Subdivision in Mesa CortinaMesa Cortina is a single family, residential neighborhood located at the base of Buffalo Mountain in Silverthorne.  Actually, it is not within the town of Silverthorne boundary but is considered Silverthorne.  National Forest borders the neighborhood on two sides and open space between Mesa Cortina and Wildernest.  It has a nice feeling of seclusion without being way out in the boonies.  The homes are situated on 1/3 or 1/2 acre lots which allow for a little more elbow room than a lot of the closer in neighborhoods.  

Mesa Cortina is made up of three subdivisions, Mesa Cortina, Mesa Cortina West and Cortina Sub.  There is another subdivision, Cortina Ridge, that is located in the same general area but is not included in the Mesa Cortina homeowner's association.  Homes in this subdivision are generally a little higher priced and many are on the edge of the hill overlooking the town of Silverthorne and Lake Dillon.

The Mesa Cortina NeighborhoodMesa Cortina has low HOA dues, just $100 a year, and an association that is active but not over the top.  There are architectural guidelines for homes being built and rules about fences but overall a pretty easy HOA.  Water is provided from a community well and is a little higher priced than water supplied from the town.  There is a sewer system and Comcast cable/internet is available in the area.  Gas and electric service is provided by Xcel Energy.  

The neighborhood consists of about 260 lots, 36 of which are still vacant.  Homes range from small A-frames to large homes around 5,000 square feet and every thing in between.  They can from the 1960's or 70's or built recently.  No matter your preference there's sure to be something you like in this neighborhood.  

With National Forest land all around, wildlife is abundant here.  Fox are seen frequently around the neighborhood.  Moose are known to come through on occasion and late at night mountain lion can be heard screaming off in the distance.  An occasional deer herd may come by as well.  Just keep an eye out and you are sure to see animals around.

The Mesa Cortina Trail runs through the National Forest next to the neighborhood.  From there you can hike to Willow Falls, Buffalo Cabins or the top of Buffalo Mountain.  You can connect to the Gore Trail and make your way any where from Kremmling to Copper Mountain or even Vail.

View residential properties currently for sale in the Mesa Cortina neighborhood.

Contact The Mountain Living Team for all of your real estate needs.

 

Summit Sky Ranch in Silverthorne

by Jason Adams

Something exciting is happening here in Summit County. A new single family development just north of Silverthorne called Summit Sky Ranch. Situated on 416 acres of breathtaking beauty the vision of Summit Sky Ranch is to create a vibrant community and 360 degree outdoor lifestyle for people that share common values. Here are some of the features that will make Summit Sky Ranch a one of a kind community in Summit County. The Aspen House will serve as the social and recreational centerpiece of the community. It will host small outdoor concerts on the Great Lawn and feature outdoor fire pits for gathering with friends and family. It will have its own observatory for star gazing at night and several walking trails to enjoy during the day. There will also be an outdoor pool and hot tubs, a wellness and fitness center. It will have a 10 acre lake with a large beach area, and a lush green park. The lake will have a boat house and be a great place for water sports. Summit Sky Ranch has its own Private Fishing access to the Blue River, which has been awarded a Gold Medal rating. The first offering will be 47 properties including cabins, larger single family homes and lots to create your own dream home. Residences are starting from $595,000 for a 1,550 square foot cabin and from $795,000 for larger homes. Currently they are accepting reservations with a $5000 refundable deposit. Don’t miss your opportunity to take part in this exciting new development. For more information and to get your reservation in today contact the Mountain Living Team.

Possible foreclosure in Mesa Cortina neighborhood

by Meredith Adams

After the owner of a Mesa Cortina home was recently convicted of theft and sentenced to prison time, the Summit Daily reported that house payments were no longer being made and the property will likely go into foreclosure.  It’s still possible that the home could be sold and any equity could pay back the victim of the theft.  That would, of course, have to be initiated by the home owner or the courts and I’m not sure either will be happening.  The homeowner’s arrest happened in December, so there could already be five months of missed mortgage payments.  I would expect we’ll know in the near future if the foreclosure process has begun.  If the property goes into foreclosure, additional steps must be followed so it will take some time before the property is up for sale.  If no one buys the home on the courthouse steps, the bank will take possession and it should be listed for sale shortly afterwards.

There are a lot of unknowns and assumptions being made here so we’ll have to keep watching to see how this plays out.

Speaking of foreclosures, the Red Mountain Grill is also facing foreclosure on their building.  That's another one we'll be keeping an eye on. 

With all this foreclosure talk I don't want you to start thinking there are a lot of foreclosures happening in Summit County.  Only 15 properties have begun the foreclosure process so far this year.  In 2014, 82 Summit County properties started foreclosure proceedings and 136 in 2013.  Of course the number of properties that are actually foreclosed on each year is substantially smaller.

Are you ready for the Summit County real estate market?

by Meredith Adams

Our market is in one of the slower times of year right now. Most ski areas are closed and there’s still too much snow to start hiking. Lake Dillon is still frozen. This is shoulder season, or mud season as the locals call it. The tourists have gone home. There is no I-70 traffic, no waits for tables at restaurants. Businesses slow down. Property owners that were renting their homes during ski season are getting them ready to sell when the buyers come back in the summer. This is the start of listing season. Inventory levels will start to build as the market prepares for summer’s selling season. Or will it? Buyer activity hasn’t slowed yet. In fact, we have been seeing multiple offers on properties all over the county. Just in the last month, our team has experienced multiple offer situations in Frisco, Silverthorne and Breckenridge. Price points range from under $150,000 to more than $500,000. These multiple offers can happen on condos, townhomes or single family homes. They can be on properties that are updated or on fixer uppers. They can be on the market for years, months or days. Any property can wind up with competing bids if it is priced right and in demand in the marketplace. If the buyer activity continues strong through mud season, inventory levels won’t be able to build much and more properties will be in demand creating more multiple offer situations. It could be a busy summer. The best course of action for buyers in our market is to be ready. If a loan is involved, buyers should make sure they are pre-qualified with a local lender. If circumstances allow for it and the right property can be found, buyers should buy now. While waiting means more properties on the market to choose from, it also means more competition from other buyers. That could mean paying more for your property later this year. Sellers have a challenge in a market like this too. They must resist the urge to push prices too high too soon. Some segments of the market still have an abundance of properties. It’s important for sellers to know how their home fits into the market. Like any market, if they price their home too far above the market, it will just sit there. If improvements can be done to make the home show better it will appeal to more buyers and create more demand. Sellers should always consider the return on those improvements first to ensure it’s the right course of action. The tourists return to Summit County in mid-June, in time for Frisco’s BBQ Challenge. Hiking, biking, golf and sailing break into full swing. Summer is underway and buyers are once again looking for just the right property for them. We can’t be sure what summer will hold for our real estate market. We are seeing signs pointing us in the direction of a hot market with multiple offers and a short supply of properties. Buyers and sellers should take action now to make sure they aren’t left standing on the sidelines watching all the action

Summit County residential property sales finished up the first quarter up 9.7% over the first quarter of 2013. Pretty flat sales in January and February gave way to a surge in March. April has seen a strong start and the activity level in the county continues to be strong. The increase in sales is thanks to sales at the ski areas in Summit County. Copper Mountain saw an increase of 42.9%, Breckenridge was up 39.5% and Keystone up 18.2% over 2013 first quarter sales. The county overall was up less than 10% because of declines in sales quarter over quarter in Frisco, Dillon and Silverthorne. The reason for those declines could be because inventory is in shorter supply in those areas. Dillon has the lowest inventory level in the county with only a four month supply and the biggest decrease in number of sales dropping 32.1%. If buyers cannot find what they want, they cannot buy it. It's typical for more properties to come on the market as ski season ends and the summer buying season approaches. If our inventory levels cannot build prior to the anticipated stronger summer sales, prices will be pushed higher. That's something we haven't seen a lot of in Summit County in a long time

Summit County real estate update - October 2013

by Meredith Adams

Click for larger view of Summit County Residential Sales YTDOctober finished with 179 residential sales in Summit County for the month, only a 4.6% increase over October 2012 but a year to date increase of 23%. With less than two months to go in 2013 we are just 44 sales short of the residential sales that we had in all of 2012. We should easily make up that deficit during the month of November. I don't even have to go out on a limb to predict that the 2013 residential sales in Summit County will easily surpass 2012's sales. Over the last thirteen years there have only been two months with less than 44 residential sales. Both Silverthorne and Copper Mountain have already exceeded the total residential sales their towns saw in all of 2012. Frisco has the most ground to make up needing 23 more sales to catch 2012. You might think low inventory levels could hinder Frisco's ability to catch up but there are currently 38 Frisco properties under contract, 18 of which are new construction that may or may not close this year. Odds are good that Frisco will at least match 2012 sales. Click for larger view of Summit County residential average sales pricesAverage sales prices remain flat. A little fluctuation moving higher and lower here and there. Overall the average residential sales price in Summit County is $491,357, down 4.5% from 2012's average of $514,360.

September 2013 – Summit County real estate statistics

by Meredith Adams

September Summit County real estate market highlights

prepared by Land Title Guarantee Company
  • Market Analysis by Area for September: September in Summit County was the best month so far in 2013.   There were 244 real estate transactions with $106,508,200 gross volume. The average transaction price for all 18 reported areas was down from August at $440,156, average residential price down a notch from August at $473,383 and the median residential price up a bit from August at $385,000. The average residential PPSF is up from August at $320.
  • Summit County real estate salesYear to Date by Area ( 9 months):  The third quarter of 2013 continues to be on the upswing from the past several years. There have been 1365 real estate transactions to date, and $628,279,000 gross volume. The average transaction price YTD: $466,668, average residential price YTD: $497,045, median residential price YTD: $380,000 and average residential PPSF YTD: $300. 40% of all the real estate transactions are in between the Farmer’s Corner to Blue River sections, 12% Keystone, 12% Frisco and 10% Silverthorne in September.
  • Market Snapshot YTD ( 9 months ) for 2013:  Prices continue to stabilize with average single family at a 1% decrease ($755,437 YTD September from full year 2012 $764,455) and multi-family was down a little in September YTD 2013 at -2% ( $345,573 in September YTD from full year $353,339). Vacant land continues to increase with a 6% increase ($328,417 YTD September from $309,512 full year 2012).  If you view the median prices on the chart below on page 4 of the Analysis- you will see that the trends vary with single family at 0% increase, multi- family was actually down 3% and vacant land down -15%.
  • Market Analysis % Change showing years 2004-2012: September monetary volume ($106,508,200) was up 21% from September 2012. Transactions are also up by 54% from September 2012.  Overall, for the past 9 months of 2013, Summit County is pacing ahead by 22% monetary ($628,279,000) and ahead 29% with transactions (1365). September 2013 shows the best monetary volume since September 2008 and the most transactions since September 2007.
  • Residential Market Sales by Price Point : Residential volume in September had 201 transactions with $95,149,900 gross volume.   There were 13 properties that sold for $1M and above in September.  The most active price points in September were between $200K -$300K.   September had 71 single family, 130 multi-family and 15 vacant land transactions.
  • 2013 Average Price History: Average residential pricing for single family is $755,437 YTD, multi- family is $345,573 YTD and vacant land is $328,417 YTD. This graph ( page 7) is a good piece to show your clients that our market has held it’s value over all these years. All of the average residential prices are up in September 2013 from last month.
  • Historical Cost Breakdown 2013 ( 9 months): There were 1104 residential transactions so far in 2013 and $548,737,300 gross volume with 89 properties $1M and over.  YTD 2012, there were 839 transactions and $441,357,700 gross volume, 74 properties at $1M and over and YTD 2011, there were 811 transactions with $427,985,100 gross volume, 77 properties at $1M and over. 
  • Top Lender Graph: There were 468 loans in September. 58% of sales had corresponding loans recorded at closing and 42% of the sales were cash at closing. There were 151 REFI’s and 175 loans related to Timeshares.
  • Market Highlights: Please see page 10 of the Market Analysis- this also shows the bank sales (3) from September 2013.
  • Bank Sales and Foreclosures: Foreclosure actions continue the decline, with a total of 11 actions recorded in September 2013 as compared to 36 in September 2012. There have only been 190 Foreclose actions recorded through the 3rd Quarter for 2013 which is a level that predates the recession.
  • Land Title Purchaser Highlights: A majority of our second homeowners for real estate transactions continue to be the Front Range demographic at 398 of our market, only 27% are local and 34% are out of state buyers YTD.

 

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month.  The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.

Summit County Parade of Homes

by Meredith Adams

It’s that time again!  The aspen leaves are turning a brilliant gold, the air is crisp and some of the most amazing new homes in the county are open to the public.  The 2013 Parade of Homes in Summit County features 11 homes, 7 in Breckenridge, 1 in Frisco and Keystone and 2 in Silverthorne.  The homes range from a loft over commercial space to brand new construction to complete renovations.  Construction varies as well.  You’ll see log homes, contemporary homes, and rustic homes with reclaimed materials.  No matter your taste there’s something you’re going to love. 

The Parade of Homes runs for two weekends, the 21st & 22nd and the 28th & 29th of September.  Tickets are $15 and are available online atwww.SummitCountyBuilders.org/paradeofhomes, at select homes on the tour, Dillon & Breckenridge City Market stores, and Breckenridge, Frisco and Silverthorne Bank of the West branches.  Bank of the West will contribute $2 from every ticket sale to The Summit Foundation.

For a complete list of homes on this year’s Parade, pick up a Parade of Homes book at Coldwell Banker at 4th & Main in Frisco or any Summit County real estate office.  You can also view it digitally online at www.SummitCountyBuilders.org/paradeofhomes.

Frisco homes are finally selling

by Joanne Hanson

Real estate in Frisco Colorado is finally selling!  Even a Frisco lot sold within the last couple of weeks and land hasn’t been selling anywhere. 

It is good news, but not enough for me to announce that the bottom of the market has been reached and we are now on an upswing.  It won’t happen that quickly.   But here are the numbers that are making us happy:  Since January 1, 2011, there have been 44 sales of homes and condos in Frisco.  We currently have an additional 45 under contract, waiting to close.   Last year at this time there were 48 closed sales by July 28th with a total of 117 closing in 2010.  We are actually behind in sales this year compared to last (44 vs 48) but the fact that there are 45 more under contract bodes well for the year.   Assuming all of them close, that would give us total sales of 89 and with several  more good selling months to go, so we should easily do 117 and have a nice increase too.

One category that has really made some strides is homes over a million dollars.  The last $1M+ sale was in September 2010 and the highest sale all this year was only $897,500.  With 19 $1M+ homes on the market, nothing was moving at all, but last week three went under contract and one of them had offers from two more people!  Finally! 

Prior to this week, the majority of high end home sales were in the Highlands at Breckenridge, but prices are tightening up there as Sellers seem less willing to negotiate.  Buyers are beginning to look at Frisco and we hope, Silverthorne, where there are also many homes for sale.   It is nice to finally have some optimism for at least one segment of the market.  Perhaps it is the beginning of a trend!  We can only hope….

Displaying blog entries 1-10 of 10

Syndication

Categories

Archives

Site Search

Share This Page

Contact Information

Photo of Jason & Meredith Adams Real Estate
Jason & Meredith Adams
Mountain Living Real Estate
PO Box 4115
Frisco CO 80443
888-666-0844