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Breck/Keystone pass prices announced

by Joanne Hanson

The Colorado Pass, which allows unlimited skiing at Breckenridge, Keystone and A Basin, plus 10 restricted days at Vail and Beaver Creek, will be $419 for adults this spring. It is the same price it was last fall. Last spring it was $40 less. If you don’t want the Vail/Beaver Creek option, the Buddy Pass price is $379 for adults. There is new, more expensive, alternative called the Colorado Pass Plus. It gives you the same options as the regular Colorado Pass but some of the days at Vail/Beaver Creek are unrestricted, for $519. Purchase the Colorado Pass or the Colorado Pass Plus by May 6 and get unlimited skiing at Vail and Beaver Creek during April, 2008.

You can secure your pass for a $29 down payment with the remainder due September 2007. Renewals can be done online and new passes will go on sale April 13 at select Front Range locations. Full information can be found at www.snow.com. I hope they gave the person who thought about securing that domain name a huge bonus!

Would you rather be in Fernie?

by Joanne Hanson

I just saw a blog entry from Fernie, British Columbia, Canada, advertising newly built condos, 5 minutes from the ski area base, for $333 Canadian a square foot. That works out to be about $345,000 US for a 1200 square foot condo. Not bad! And they have a washer and dryer.

That would be a great price if it were at the base area of any of our mountains in Summit County. Breckenridge has some new development at the base of Peak 7 that is upwards of $1,000 a square foot. Even small resale condos at the base of Copper Mountain are over $400 a square foot. Funny enough, the building looks a lot like Copper Springs Lodge at Copper!

So how many people want to spend their weekends in Fernie?

Would you pay $999 for a season pass?

by Joanne Hanson

Copper Mountain announced their season pass prices for 2007-2008, and there are changes now that Steamboat Springs is in Intrawest’s  portfolio of properties.  While Summit County season pass prices have been low because of the competition between Copper Mountain and Vail Resorts (owners of Keystone and Breckenridge), Steamboat residents have paid much higher prices in the past.  I think they were hopeful things would change with Intrawest buying the mountain, but it is not to be!  A season pass, good for Steamboat only, will be $949 for an adult for the 2007-2008 season.  If you would like a pass for unlimited skiing at Steamboat, Winter Park and Copper Mountain, you can buy one for only another $50.  That might seem like a deal to Steamboat residents, but when you are used to paying  $350 or less for a season pass in Summit County, $999 is a bit steep.    Passes good only at Copper Mountain or only at Winter Park will be $349, and if you want a combination pass, for $379 you get unlimited days at both mountains.  Add six days at Steamboat to the mix, and the price goes to $479.   

Pass information can be found at www.passwagon.com.  I have not yet seen pricing for the Vail Resorts passes, but you can be sure I will write about it when it does become available.

Scam artist on the lose

by Joanne Hanson

It was a guy in England with a couple of kids and a wife, and he wanted to bring his family here for two months. Lucky me, he was taking mud season, coming in the day the ski area closed! I gave him a good deal and quoted him the price. I prefer to take a check so I don’t have to pay the fee to run the credit card. No problem, he would put one in the mail today, and he could even pay me in US dollars!

A week or so later, the check came, and there was the tip off. I did not have a legitimate tenant; I had a scam artist. The check was for $2,000 more than I had quoted him. It was drawn on the Bank of Bermuda and came in an envelope with no return address, postmarked Southern Maryland. Luckily, I was on to him as it is a well known scam, especially on ebay. Had I asked him why the check was for more than was due, he would have told me that the bank made a mistake, and would I just deposit his check in my bank and send him my check for the overage. Of course, his check would have been no good, but we wouldn’t have found that out until after he had my $2,000.

I have canceled the reservation and have done nothing with the check. I will ignore any emails from him, should he try to contact me. The local sheriff’s department can’t really handle it and they suggested the FBI website. The FBI is only interested if a crime has been committed, and since I didn’t fall for it, there wasn’t one. I may follow up with the postmaster and see if they want to do anything. Meantime, perhaps my story will help someone else to be aware of one potential scam. I am sure there are lots more ways of being taken for an expensive ride. If you have a story about your rental property, please share and help others be on the alert.

Free pine beetle workshop March 29, 2007

by Joanne Hanson

The CSU cooperative extension is offering a Mountain Pine Beetles Management and Reforestation workshop at the County Commons building near Frisco, March 29 from 4:30 to 6pm. They will be answering questions about the pine beetle and will talk about the right trees to use to reforest in areas where trees have had to be cut. Applications to purchase new seedling trees will be available at the workshop. The presenter will be State Forester, Hans Rinke.

Call 970-668-4140 to register or for more information.

Home exchanges; a cheap way to travel

by Joanne Hanson

Many websites are now devoted to helping people who want to exchange homes, almost anywhere in the world. The idea is that if you want to go to France, and someone in France wants to go where you live, you connect on the web and trade houses. Sounds easy, and perhaps it is.

I was born in New Zealand and would like to go back there for a few weeks later this year or early next year. I am in the process of trying to find someone to trade homes with. I have paid for memberships to www.homeexchange.com and www.homeforexchange.com, to the tune of about $90 for both for a year. I chose those particular websites because they both list a lot of homes in New Zealand. The memberships allow me to email the owners of homes that interest me, and also put my home on the websites so that others might see it and contact me if they want to come here. I am pretty specific about where I want to go, but I see many listings where people are very flexible and are open to suggestions.

If you have a second home, then you may not necessarily need a simultaneous trade. It could be that you would vacation in France in May and the french family could use your second home in July. In my case, it would need to be at the same time, but it has the added advantage of giving me a housesitter and someone to feed my cats.

Of course, there are lots of questions, as you don’t know who the people are that would be staying in your home. Many sites have people who have exchanged a number of times, and some have reviews of the people and their homes. When I go back to New Zealand I am going to make it a point to meet some of the Kiwis I have contacted who might possibly trade homes with me at a later date. As I continue the process, I will post about it and let you know how it goes. I am in the very preliminary stages right now. If you have traded homes before, do me a favor and comment on this post and let us know how it went for you (please?)

6 rules that will save you money

by Joanne Hanson

When buying or selling certain properties, you can defer the taxes on the gain by doing a 1031 exchange. When you sell one property and buy another, it is possible to defer all taxes on the gain if you follow these six rules to meet the stringent IRS regulations.

The IRS Rules for Exchanges

  1. Qualified Intermediary (QI). The IRS mandates that you use a QI to prepare the legal documents for your exchange. Because the QI must be independent, it cannot be your friend, employee, broker, or even your accountant or attorney. The QI also holds your money, so that you do not have access to it.
  2. Proper title holding. You must purchase and take title to your new property exactly as you held title to your old property.
  3. Reinvestment Requirement. To defer all of your capital gain tax, you must buy a property equal or higher in value than the one you sold. Also, you must reinvest all of the cash proceeds from your sale.
  4. Real Property Use. Both your old and new properties must qualify as investment or business use. If both properties pass this test, you can exchange nearly any type of real estate.  Read a blog post about a recent court ruling on 1031 exchange treatment of vacation properties.
  5. 45 Day Identification Period. You have 45 days from the closing of your sale to list the properties you may want to buy. There are no exceptions to the deadline.
  6. 180 Day Exchange Period. From the sale closing date, you have 180 days to close on the purchase of one or more properties from the 45-day list. Again, there are no exceptions to this deadline.

Courtesy of The 1031 Exchange experts.

Blogging is a bit like skiing

by Joanne Hanson

It is much easier if you start at 4 years old. However, as a skier who took her first lesson at 40, I can tell you that it is not impossible. Today, although I don’t think I qualify as an expert skier (I have yet to ski Tucker Mountain at Copper), I consider myself at to be advanced, even though I got a late start. Although the “right” way to ski changes frequently, it still doesn’t change as fast as technology, and I find it increasingly difficult to keep up in that arena and still do my full time Realtor duties well.

Blogging works perfectly for me in that my goal has always been to give my clients the information they need, and lots more they didn’t know they needed. I still have plenty of things to say. This blog makes that very easy to do, but my technology shortcomings become readily apparent. So, if you see a link that doesn’t quite work, or notice the lack of graphics and photos, be patient! They will come as soon as I figure out how!

More mind blowing stats!

by Joanne Hanson

Trulia is a national real estate blog, and look at what they have to say about Breckenridge and ski areas in general…

This month’s Trulia Trends identifies the top five most popular ski resort towns favored by mountain lovers across the country.

They were:

  1. Breckenridge, CO
  2. Park City, UT
  3. Aspen, CO
  4. Mammoth Lakes, CA and
  5. Jackson, WY.

Of the five, Breckenridge had the lowest average single family list price, at $1,073,624.

Trulia states that from July 06 – Jan 07, search traffic for ski resort locations increased 2.37x above all searches on Trulia. Best time to buy a home in the snow? If home buyers want to beat the rush, Trulia search data shows that July is best.

My experience is that July is when a lot of people are searching, but that May and June are better times to do so, as you have less competition and more listings from which to choose. April and May is listing season, and the tourists come to town in July and August, so before they get here is the best time to buy.

 

Mind blowing statistics

by Joanne Hanson

I was listening to the radio the other day, and Bill Wallace, our former county commissioner, was talking about the projected population growth in the county. We currently have about 25,000 full time residents in all of Summit County. He said that by the years 2025 to 2030, he expects that we will have a population of 45 to 50,000 people.

That is almost double!

It is no wonder that we are beginning to see tear-downs in Frisco, but the lots are being redeveloped into condos and duplexes. Look for that to happen in other places in the county as about 85% of our land is publicly owned in the form of Forest Service, BLM or County owned lands.

 

Displaying blog entries 271-280 of 294

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