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The Mountain Living Team


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It's the end of summer but Summit County real estate is still HOT!

by Meredith Adams

It’s starting to feel like Autumn around Summit County.  There’s a nip in the air, the big ski sales are underway, the leaves are changing and the tourist activity is winding down.  Most people would believe real estate activity is winding down too  but that is not the case.

Real estate sales have been hot all summer long.  This summer had 14% more sales than last summer.  But the fall months are our best months for real estate sales.  September and October typically have the highest number of sales for the year.  This year will continue suit.

Historically, a similar number of properties go under contract in September as in August.  184 properties went under contract this August and 222 last August.  I’d say it’s a safe bet that we’ll see around 200 properties go under contract this September.

There are around 900 properties on the market right now.  If 200 go under contract in September, that’s about 20% of the current inventory.  That’s not bad odds if you’re a seller.



Changes coming October 1 for real estate purchases

by The Mountain Living Team
Consumer Financial Protection BureauIn an attempt to better protect consumers from predatory lending practices, the Consumer Financial Protection Bureau (CFPB) has integrated the mortgage loan disclosures as required under the Dodd-Frank Act.  What this means to consumers is two new forms.  The Good Faith Estimate we are used to that discloses the costs of the loan at the beginning of the loan process becomes the Loan Estimate.  The HUD-1 that shows the actual charges due at Closing becomes the Closing Disclosure.

In addition to the new forms are a few new rules.  During the loan process, there are several things that may happen that will require the lender to update the Loan Estimate and notify the consumer.  Those triggers are changes in the charges.  Perhaps a credit from the seller to the buyer was negotiated during the inspection period or maybe one of the estimated charges was inaccurate initially and needs to be adjusted, that means a new Loan Estimate must be sent to the consumer.  Lenders are only allowed a 10% increase between the charges disclosed on the most recent Loan Estimate and the actual charges on the Closing Disclosure.  If closing costs are initially estimated as $3000, the 10% rule only allows a $300 increase.

This all sounds great.  Keep the consumer informed on the costs they will be paying at closing.  No surprises at the closing table!  Where these new rules may cause problems in our real estate transaction is the required delay between issuing a Loan Estimate and Closing.  A three day wait is required.  Probably not a big deal, however, if something goes wrong and a last minute credit needs to be offered or one of the charges is discovered to be incorrect at the last minute Closing could be delayed.  Both Buyer and Seller need to be on board in order to delay Closing.  If the Seller doesn't agree, it could be disastrous for the Buyer.

The new rules were supposed to start August 1st but was recently pushed back to October 1st.  That means the real estate industry has a few more months to figure out how best to adjust to the new changes.

The Mountain Living Team knows it is important to stay on top of changes in our industry.  Educating ourselves and the consumers as well as adjusting our practices to better serve our clients is a high priority for us.  In response to the upcoming changes, we will be implementing new measures to ensure our Buyers are protected against any unexpected situations that could create a snag in the closing process and potentially put their earnest money at risk.  

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.

The number of properties for sale is climbing... and so are prices

by Meredith Adams

Inventory Trends over the last 2 years - Summit CountyAs we head into summer,  it is typical for the number of properties on the market to increase.  The ski areas have closed, seasonal rentals are done so it’s time for those interested in selling to get their properties ready and put them on the market.  This year is no different in that respect. 

Since mid-April, when most ski areas closed, we have had 364 properties come on the market.  But with properties going under contract and selling, only 108 properties were added to our inventory.  Last year new listings were close to the same amount, 370 properties.  However, that increase added 192 more listings our total inventory. Even though the number of properties coming on the market was about the same, they weren’t being absorbed as quickly.

This year inventory levels are down 27% from the same time in 2014 and a whopping 56% below 2009 numbers.  It’s the same old story around Summit County; decreasing inventory and increasing sales.  We are just now coming to the point where this combination is having a significant impact on property pricing.  Some areas in the county are poised to surpass the prices we saw during the peak of our market during this year’s selling season.

The graph shows the correlation between properties on the market and those under contract.  The improving market can be seen by the narrowing gap between the pending and active properties.


Last minute 4th of July plans

by Meredith Adams

If you haven't made you plans for the 4th of July yet this year, just come up to Summit County.  It's cooler than the Denver Metro area and there's a lot going on.  Click on the town name to link to their website with details about their activities & events.

7am  10k trail run
9:30am  Firecracker 50 bike race
10am  Parade
12:30pm  Viper car show
1pm  Kids water fight
2pm  Live music
8pm NRO at Riverwalk
9:45pm  Fireworks

Dillon Amphitheater
7pm  Forever in Blue Jeans, Neil Diamond tribute band
10pm  NRO Performance

8am  Pancake breakfast
9am  Fishing Derby
10am  Summit Concert Band
12:30pm  Parade
1:30pm  Live music by Guild of Ages
3:30pm  Drum circle
7:15pm  The Long Run, Eagles tribute band
9:30pm  Fireworks

8am  Fishing Derby
9am  Super Slimy Science
10:30am  Bike decoration party
11am  Bike parade
11am  Ala carte BBQ
12pm  Live music by Trout Steak Revival
7pm  Live music by The Burroughs
9pm  Fireworks


Frisco's 4th of July Parade



Dinner at The Canteen in Breckenridge, Colorado

by Meredith Adams

The Canteen Tap House & Tavern

The old Steak & Rib restaurant is now The Canteen Tap House & Tavern.  Recently, a dinner out with our friends meant an opportunity to give the new, Breckenridge restaurant a try.  We suggest you stop in when you get a chance too.

Our dinner consisted of a variety of drinks, appetizers and entrees.  The drink menu was extensive.  The margaritas and dark & stormy were served in tin cups that looked like something you would use to scoop your water out of the well with back in the day.  Both the ahi tuna and BBQ flatbread appetizers were hits at our table and disappeared in no time.  The tuna was served on a bed of guacamole ready to be scooped up with the tortilla chips served with it.  Our entrees were the southwest chicken salad, ribs, a burger topped with chiles and cream cheese and a Reuben.  Jason is a Reuben guy and can be pretty particular about them.  This one was a big hit with him resulting in the best compliment that can be given; that it will be ordered again.  The burger was equally as good resulting in more rave reviews.  The salad was pretty good, I mean it is a salad afterall, although it was served in a bowl that was a little small making it hard to eat without it spilling over the sides.  The ribs were reported to have a hint of spice in the sauce and rub.  

The service we received in the bar was also good.  We even had a visit by one of the owners, Mike Steger.  He chatted with us for a while even though I'm sure he had to be very busy.  He even went out of his way to provide 4th of July event information to our friends that just moved to Colorado.

If you haven't had the opportunity to stop in to The Canteen yet, make it a point to do so.  Now that they are also open for lunch, it's even easier to give it a try.

Robert Randolph plays Dillon Amphitheater

by Meredith Adams

Robert Randolph and the Family Band perform at Dillon AmphitheaterThe amphitheater was packed as the opening band took the stage.  John Trucelli said the crowd was 10 times bigger than what they're used to playing for. They are a local band and play venues all over Summit County.  They played a good set, introducing their new album to the crowd.

Then it was time for the main event.  Robert Randolph and the Family Band took the stage.  The crowd roared and the floor in front of the stage was full in no time as everyone got up to dance.  Robert Randolph is ranked as one of the 100 best guitarists by Rolling Stone.  His music is very high energy, funky & soulful.  Many in the crowd were wearing ear plugs because it was so loud.  I think that must have chased off a few of the younger and older listeners as the evening progressed.  Those that remained had a fantastic time jamming to some great music as the band put on an awesome performance.  Robert engaged with the crowd, inviting the ladies in the crowd on stage to dance, bringing up a fan to play guitar with him and another to sing.

A big crowd for the free concert at Dillon Amphitheater June 27thRobert Randolph & the Family Band was a fantastic way to kick off the summer season at the Dillon Amphitheater.  All shows are free at the amphitheater.  Concerts will be happening every Friday and Saturday nights all summer long with performances by a variety of artists.  It's a great way to spend an evening under the stars in Dillon, Colorado.

Market Watch June 2015

by The Mountain Living Team

Here's a quick snapshot showing what has been going on with our Summit County residential real estate market over the last 7 days.

With 58 new listings and 43 new under contracts, we added 15 additional properties to our inventory this week bringing our current inventory to 893.

Even with an improving market, price reductions are still happening.  Six of the price reductions happened on condos.  The other 34 were all single family homes.  Ten price reductions were on properties priced over $1,000,000.  

Is your real estate agent marginal?

by Meredith Adams

NAR, the National Association of Realtors, recently released a "Danger Report" that states the largest threat to today's real estate agent is other real estate agents.  When an organization that is out there to protect and propel the image of Realtors is publicly skeptical about real estate agents, there must be a big problem. The competence of agents is a big concern mentioned in the report.  Because real estate is a commission only job, it's not uncommon for agents to have a full time job that pays the bills and be a real estate agent part time for supplemental income.  Many agents are unskilled, lacking the ability to coach buyers and sellers in one of the largest purchases or sales they will ever be a part of.  As a consumer, how do you make sure your agent is competent and ethical?  How do you protect yourself from agents that are marginal?

During your home purchase or sale, you rely on your agent for not only market information but opinions on how to handle different situations that crop up, resale value and negotiation tactics.  An agent that has years in the business may sound like someone you can rely on but if they are a part time agent, that may not be the case. A better measure of the experience of real estate agents is the number of sales they have handled.  According to NAR, agents on average close just 12 transactions a year​.  In 2014 Jason & I closed 39 transactions.  We are both full time real estate agents and our standard of living relies on our ability to provide an excellent service to both buyers and sellers.  We pride ourselves on the care we take of our clients; looking out for their best interests while maintaining a high ethical standard.  We ensure our clients' earnest money is never at risk, that deadlines are not overlooked, and that their motivations and bottom lines are closely guarded and never exploited.  We provide factual information to help our buyers and sellers decide their best course of action.  We will never push a client into a decision!  Road blocks that may hinder a transaction are anticipated and preempted.  We work hard for every client whether they are buying a small condo or a multi-million dollar home.   We believe there is no better compliment from a client than coming back to us for another purchase or sale or referring a friend or family member to us for their real estate needs.  It is our goal to provide service worthy of exactly that.

The easy answer to hiring a great real estate agent is to work with The Mountain Living Team for your Summit County real estate needs.  If you're buying or selling outside of Summit County, we may have a great agent to refer you to, check with us first.  One additional tip, make sure your real estate agent is really representing you.  Every state has its own rules but no matter where you are your real estate agent should be able to tell you about their obligations to you.

Additional questions?  Just ask, we're happy to help.


Our new website

by Meredith Adams

If you've visited our website before you may be noticing it looks a little different since you last visited.  You're right.  We've been updating our website for about six months now.  It's still a work in progress but it's up and running and we think it's a big improvement.  There are still improvements we are making, it's not done yet, but getting better.  If there's something we've overlooked, let us know.  It's our goal to make this website exactly what you want and sometimes we don't always see everything you need.

If you haven't been here before, we hope you like what you find.  We've compiled valuable area information with current property listings and helpful tips in the hopes of educating you about the various aspects of our real estate market.  We want our website to be an asset for you in your Summit County property search.  Our property search doesn't require a sign in, look all you want with no obligation.  You're welcome to sign up and set up a saved search if you like, but that's on your terms, not ours.  And, of course, when you are ready, we hope you choose to let us help you find just the right Summit County home for you.

If you prefer, set up an RSS feed and be notified when we publish a new blog post.  Or sign up for our monthly e-newsletter.  If you don't like a bunch of emails, just bookmark our site and come back whenever you like.  It's our goal to get you what you need, and in the process, make a living doing what we enjoy.


Displaying blog entries 1-10 of 225




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Photo of Jason & Meredith Adams Real Estate
Jason & Meredith Adams
The Mountain Living Team at Coldwell Banker Colorado Rockies Real Estate
400 Main St / PO Box 4115
Frisco CO 80443