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Summit County, CO: Mountain Living Real Estate Blog

The Mountain Living Team


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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.


Subscribe to posts

by Joanne Hanson

Here’s the deal: every single blog post now has a checkbox at the bottom labeled “Notify me of follow-up comments via e-mail”.

After your comment in the blog has been approved, at the bottom of your comment, you will see “You are subscribed to this entry. Manage your subscriptions”.

You can then access a management screen which will allow you to see the posts to which you have subscribed. You may unsubscribe from any or all of the messages you have subscribed to. This new feature will allow you to see what others have to say on the subject, or any response I have for you, as you will be notified by email when new comments have been added to that post. There are many times I have to wonder which blog it was that I was reading and sometimes going back to it just gets difficult.

That’s it. Easy!

Everything there should be straight-forward, but if it’s not, just email with any questions.


What happened to interest rates this week?

by Joanne Hanson

Interest rates improved slightly when the stock market took a dip. Below I have quoted our friends Jeff and Renee Kneller at Mountain Equity Mortgage.

Last Week In Review

Last week’s volatility in the stock market stabbed at the hearts of both the Stock and Bond markets, with home loan rates swinging higher and lower throughout the course of the week. Economic news releases took a backseat to the massive movements in Stocks. Amazingly, when all the smoke cleared, home loan rates were unchanged to slightly improved for the week overall.

What happened? First, remember that the Stock and Bond markets compete for the same investment dollar. This means that when Stocks are worsening and investors are selling off their holdings, some of that money gets moved over into the Bond market, which helps home loan rates improve. And vice versa, when Stocks move higher and investors are buying into the Stock market, some of that money comes back out of Bonds, which causes home loan rates to worsen.

Last week’s volatility began with the Chinese Stock market plunging, setting off a string of worldwide stock selling. Our own Stock market was ripe for a reversal lower, and money flowed out of Stocks and into Bonds, helping home loan rates improve. The next day, Stocks began to rebound, moving money back out of Bonds and causing home loan rates to worsen. But the “see-saw” action continued for the balance of the week – and may not be done yet, causing high amounts of volatility in Stocks and Bonds – and therefore, home loan rates.


Favorite powder stashes at Copper Mountain

by Joanne Hanson

We went looking for powder today, and as it was very windy, found more than a few stashes in the trees. Seventeen Glades had lots of deep powder and Spaulding Glade was very nice. Watch for tree stumps and logs though! Cache Glades (at the bottom of Hallelujah bowl) is known for powder but it is steeper and the trees are tighter. The snow in the bowls was wind packed and not as easy to ski today, but we did manage to carve up Spaulding. I didn’t get over to Union Peak, although Southern Star is always a great spot for powder. Oops, I keep forgetting, they changed its wonderful name and renamed it Buzzard’s Alley, a terrible name for a great run. Retreat and Golddigger, on the back side of S lift, and A-chute, a little further west, are good places to find powder, but you have to do it early, before The Over the Hill Gang gets in there and skis it all out!

The Snow Cats run up to Tucker Mountain when the conditions are suitable, and if you are an expert skier, it is a wonderful place to play. To get there you go into Copper bowl and meet the Cat at the bottom of the bowl. Once they drop you off, there is still a little hiking to do, but the effort is worth it.

If you are not so adventurous, you can often find nice powder, even at the end of the day, on Hidden Vein, a short little run between Union Creek and the Center Village, and along the edges of all the green runs going down to Union Creek. The beginning skiers tend to stay in the middle of the runs and leave it for us! Foul Play, a short run off Fairplay, is also a quick little powder shot.

Enter a comment and let me know your favorite places for powder…I promise not to tell anyone!


Link to a great overview of Summit County restaurants

by Joanne Hanson

I found this article about Summit County restaurants on They missed a couple, but by and large it is a good list and the reviews are pretty much right on.
See also, a post I added on 7/17/2007, a review of the new Breckenridge restaurant, Modis.�

Recipe for a sale

by Joanne Hanson

The Five ingredients for your recipe for a sale:


We usually can’t move a home to a new location!  The favorite phrase of appraisers is “Location, location, location”.  The pricing of your home must reflect its location.  If it is close to I-70 it will usually be worth less than the same home in the trees or with views.


The upkeep and presentation of your property is crucial to obtain the highest value for your home in any given market and at any given time.  Condition also affects the time on the market, with properties in better condition selling faster than those that need work.


Price is the number One factor in the sale of a home.  Price overcomes all objections and any deficiencies in the other four ingredients.


The more methods of financing your home the more options you give potential buyers.  If you can sell through VA or FHA loans, or owner carry, you increase the pool of buyers.  If you do an owner carry, you may be able to get more than fair market value, (depending on the market) but you also take on the risk of the loan.


Interest rates, competition and the economy all make up the state of the market when you sell your home.  The price of the property must reflect the current status of the market.  Sales more than six months old may not be usable as comps if the market has changed, unless you make adjustments.  The market will tell you what your property is worth; if the property doesn’t sell after some time on the market, then you need to look at the other four ingredients and see what needs adjusting.  I may be that new carpet will do it, or it may need a price adjustment.

A sixth ingredient, which could also be considered the baking soda in the mix, is the Realtor and his/her marketing package.  Ask questions before you hire your Realtor and ask for references!


What to do with all the pine beetle killed trees

by Joanne Hanson

The Summit Daily ran an article today about the possibility of using the standing dead trees to heat buildings in Vail. Summit County has also looked into the possibility of using the wood (called biomass fuel) to provide heat with no additional carbon output into the atmosphere.

We do need to do something about reducing the global warming, and reducing our use of fossil fuels is one best ways to do it.

Displaying blog entries 271-280 of 288




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