After several months of little activity (June sales were down by 55% over a year ago) the Buyers finally showed up this week. We had five offers on four of our listings. Three are now under contract and the one with two offers is waiting for owner to get back from vacation. There have been lots of showings, (some properties have had twenty or more!) but Buyers have shown us that they are not willing to offer on a property unless they feel it is …..

Condos in Frisco, Colorado, have been very popular and have become more expensive.
With the slowdown in the market in the last few months, come some opportunities. We have four condominiums in Frisco recently listed, all priced under $400,000. All four are very different from each other, so here is a quick rundown of the highlights of each of them.

204 Meadow Creek Villa, $350,000.
205B Ten Mile Island, $369,000
418F, Frisco Bay Townhomes $383,000
730B Lagoon condominiums $309,900

“How is the Summit County real estate market?” is the most asked question when I meet people today.
Owners, Sellers and Buyers all want to know, as the market has been down for so long in the rest of the country. People have assumed it would be bad in Summit County too, but it hasn’t been until recently. The first six months of the year the number of transactions was down 38% over a year ago, so we know the national economy is now affecting us.

Fear on the part of potential Buyers is the biggest cause of the downturn, in my opinion. We still have very few foreclosures and not many Sellers “must” sell their properties. Second home Sellers are notoriously unmotivated

To purchase the “average” Frisco home, an income of more than $207,000 would be required.
“Affordable” is the favorite term used when referring to homes that are deed restricted to local Summit County residents. It seems that is the only way locals can afford to buy a home. Lately, I have heard “attainable” used, rather than “affordable”. As prices go up, it seems to be a better word. The Summit Housing Authority does a great job of helping people with low interest loans for down payments together with homeowner education. The towns and the county governments have been trying to find more ways to provide housing for locals. The Peak One parcel, being town owned, seems perfect for it.

The Peak One tract of land in Frisco was aquired by the Town as part of a Forest Service land exchange. It has been used for recreation and open space, but the Town of Frisco has warned residents that it would not stay that way forever. The time seems to have come for it to be developed, and an ongoing dialogue between the Town and homeowners is coming to an end….

One of our clients who is a Realtor in Denver, was recently recognized by Realtor magazine as one of an elite group of 30 Realtor professionals who are under 30 years old and very successful.  Kate Lyons was also recognized by her employer, Markel Homes, who said:

30 Under 30 is designed to identify rising stars with […]