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It's peak time for gold in Summit County

by The Mountain Living Team

Changing leaves in Summit County ColoradoSeptember in Colorado is a beautiful time of year.  All the leaves on the aspen trees change to a beautiful gold, sometimes with a little more orange in them.  Combine that with the deep blue sky, the green pine trees and sometimes, if we are lucky, a light dusting of snow on the mountain tops and it's absolutely gorgeous around here!

The leaves seem to be changing a little earlier this year, maybe it's because of the lack of moisture we've had this summer, I don't really know.  It's mid September and the gold patches are everywhere.  Like normal, there are still some reluctant green leafed aspen around and some that have already dropped their leaves and are ready for winter but most are donning their gold in all their glory.

If you're not sure where to go to check out the leaves, here are a couple of my favorite spots.

  • Boreas Pass Road in Breckenridge.  As you head all the way to the top of the pass the road will turn to dirt and the aspen line the road.  It's hard to drive too far down this stretch without stopping several times to take photos.
  • Eaglesmere in Silverthorne.  Near Heeney and Green Mountain Reservoir is the Eaglesmere Trailhead.  Just a few steps on the trail and you are in a huge aspen grove.  If you catch it just right, the gold leaves will cover the ground and still shimmer in the sunlight on the trees. While you're here, check out Cataract Lake.  The trailhead is very close to the Eaglesmere trailhead.  You can combine the beautiful aspen groves with a reflective mountain lake.

There are aspen all over the high country.  Take a drive down any road in a residential area or on a highway and you're bound to see areas that just take your breath away.  It's a beautiful time to be in Summit County but be prepared for anything.  We can have warm, sunny days or cold and snowy days in September.  

New development is everywhere in Summit County

by The Mountain Living Team

It's hard to go anywhere in the county without seeing homes being built.  New construction is going strong.  Here's a little information on some of the new developments.

Summit Sky Ranch - This development in Silverthorne has been underway for a couple of years now.  It is a neighborhood of single family homes near The Raven Golf Course. See what's for sale in the neighborhood now.

Blue River Flats - Small buildings of condos with garages on the Blue River in Silverthorne.  The first building is nearly complete but there are more buildings to be built.  See current properties for sale.

Smith Ranch - Mostly deed restricted homes, for local employees, located below Ruby Ranch in Silverthorne.

Mattox Triplex -  Located around 2nd & Granite in Frisco, these townhomes aren't completed yet. 

Alley Shacks - A duplex at 4th and Galena Alley in Frisco to be completed this year. Each has 3 bedrooms and a 3 car garage.

Library Lofts - Construction hasn't even started yet on these luxury townhomes at Madison & Galena in Frisco.

Estates on Galena - 13 single family and duplex homes located in Frisco at 2nd & Granite. Construction is underway.

Mary Ruth Cabins - This is a deed restricted development in Frisco that is nearly complete. These new homes will be available to rent by Frisco or Copper Mountain employees and they allow pets!

Sail Lofts - A condominium high rise in downtown DillonSee listings here.

Uptown 240- A high rise at the entrance to downtown Dillon that will house a restaurant, hotel, work out facilities, viewing deck and more.  These aren't slated to be done until 2020.

New Seasons at Keystone - A condo devleopment near Keystone Lake.  See what's available for sale now.

Cucumber Creek Estates - A high end single family home development in Breckenridge. See homes for sale in Cucumber Creek Estates.

Shores at the Highlands - Construction has been underway for a couple of years in this development of luxury homes on the north side of Breckenridge. See these luxurious homes that are for sale.  

This list just touches on the new construction in Summit County.  If you'd like more details about these or other new development projects around the county, contact Mountain Living Real Estate today.

 

 

 

Fast Facts - August 2018 Real Estate Sales

by The Mountain Living Team

Residential Sales August 2018

  • Number of sales is down 12.6% vs August 2017
  • Dollar volume for sales is up 7.8% vs August 2017
  • Average sale price is up 23.3% vs August 2017
  • August 2018 average sale price was $862,340
  • There were 37.5% more sales over $1,000,000 in August 2018 vs August 2017
  • 55 sales, or 27.4%, were for $1,000,000 or more
  • 11 sales, or 5.5%, were for $2,000,000 or more
  • 78.6% of sales sold in the first 60 days
  • 77.4% of sales sold in the first 60 days in August 2017
  • 35% of sales were cash
  • 4.5% of sales were 1031 Exchanges

 

Land Sales August 2018

  • Number of sales down 10% vs August 2017
  • Dollar volume for sales is up 62% vs August 2017
  • Average sale price is up 80% vs August 2017
  • August 2018 average sale price was $424,458
  • There were no sales over $900,000 or below $150,000
  • There were no sales over $600,000 and seven sales below $150,000 in August 2017
  • 44.4% of sales sold in 60 days or less
  • 20% of sales sold in 60 days or less in August 2017
  • 83.3% of sales were cash

So far in 2018 sales are pretty flat when compared to 2017.  More higher priced properties are selling which is pushing the average sales price higher.  A 23.3% increase in average sales price doesn't mean homes have appreciated 23.3% in the last year.  While prices are up, every neighborhood is different.  If you're wondering about the price of your home in today's market, contact us for a free home valuation.

What $300,000 Buys you in the Summit County real estate market

by The Mountain Living Team

What does $300,000 Buy?The current, inventory starved, real estate market in Summit County that has pushed overall home prices higher is, as you would expect, making the price of entry level, second homes higher too .  100% ownership for $100,000 that was possible a few years back is non-existent these days.  A more reasonable starting point would be $300,000.  So what can you expect to get for $300,000 in Summit County these days?

You can get vacant land.  You can buy a small, single family home lot in select areas of Breckenridge, Silverthorne, Keystone and Dillon. A very small commercial space in Breckenridge could be in reach too. As far as things you could actually live in full or part time, you could buy a home near Green Mountain Reservoir in the town of Heeney.  It will be older and may or may not have plumbing.  A studio in Keystone or Copper Mountain or a 1 bedroom in the outskirts of Breck, in Dillon or Silverthorne are also possibilities.  You may even find a very small two bedroom around the $300,000 price tag.  If you live and work in the county, you should be able to find a deed restricted property, perhaps with up to 2 bedrooms, in this price range. Other options include partial ownership opportunities and timeshares. 

Through the first seven months of 2018, the average residential home price was $751,589.  That doesn’t mean you need to spend $750,000 to buy here. That average includes sales of multi-million dollar single family homes all the way down to small condos.  19% of the sales sold for over $1,000,000 and only 8.8% were under $300,000.  That’s going to weight the average price to the high side. 

For $300,000 you can typically expect a very limited selection of small condos or vacant land.  It’s enough to get your foot in the door of a rising market.  Real estate is cyclical.  It goes up and it goes down. Whenever you choose to buy, we always recommend that you don’t over extend yourself and be comfortable that you can wait out a downturn.  

Here are homes for sale in Summit County for $300,000 or less right now.
 

Hiking the Tallest Mountain In Colorado

by Meredith Adams

The summit of Mount ElbertThe tallest mountain in Colorado rises 14,440 ft above sea level.  It is the second highest at just 65' shorter than the tallest mountain in the lower 48 states and ranks 15th tallest when Alaska and Hawaii are added in the mix.  

Colorado has 58 mountains over 14,000 feet in elevation (14ers).  The tallest is Mount Elbert.  Mt Elbert is located in the Collegiate Peaks Mountain Range near Leadville.  It's not in Summit County but it is the tallest mountain in Colorado and just a short drive from Summit County so I felt it was worthy of a blog post.  There are several hiking trails that will take you to the summit of Mt Elbert, all require climbing steep grade above treeline.  Make sure you start early so you can reach the summit around noon and be heading back down before the afternoon storms roll in.  There is very little for cover at the top if you find yourself in a lightning storm.  Even if the weather forecast shows no chance of storms, don't rely on that.  Colorado weather is unpredictable, especially at 14,000 feet.

Hiking Mount ElbertWe opted for the South Mt Elbert Trail on this hike.  It starts from a campground so if you like, you can camp the night before and don't have to get up quite as early in the morning.  There is a well marked trailhead with a small parking lot but don't be tempted to start there.  Take a left  after the trailhead and drive a four wheel drive road back through an aspen grove for about 2 miles.  Regular cars could probably make the drive but any stock SUV won't have any trouble. It shaves nearly four long, agonizing miles off your total hike!

The route the trail takes was recently changed which made our hike a little longer than we expected.  The trail was in great shape though. It took about 2 miles and 925 feet of elevation gain before we made it out of a huge grove of aspen trees and then pines further up.  After a hike across a meadow the trail started it's steep climb up.  There were a few areas where it flattened out slightly giving us a bit of a break but it's a pretty unrelenting up.  After 3 miles of climbing, we made it to the summit.  Smoke from the wildfires in California was in the air creating a haze that limited visibility of the mountains surrounding us.  We could see Twin Lakes, the reservoir and many smaller ponds in the valley below. There were about 30 people at the top.  Most came from the North Mt Elbert Trail.  That is the most popular way to the summit.  

Mountain Biking Mt ElbertDuring our hike we came across four mountain bikers heading up.  The trail was so steep they were pushing or carrying their bikes.  There was no riding up the steep section of this trail.  The first two were beasts.  They stayed ahead of us to the top and were on their way back down before we hit the summit.  The other group of two mountain bikers weren't doing as well.  One ended up leaving her bike and continuing on with the hike to the summit.  The other eventually made it up with his bike.  The steep portion of the trail didn't look like a great mountain bike trail for a novice like me but it must have been a thrill for those that know what they are doing.

The hike took a total of eight hours, spending about an hour at the summit.  The GPS said it was 10.2 miles and just less than 4,000 feet of total elevation gain.  If you are considering a 14er and want the bragging rights that go along with climbing the highest peak in Colorado, Mt Elbert is a great hike.  It's challenging but do-able.  No steep drop offs or dangerous areas along this trail.  I would guess it's one of the mellower 14ers.  With that said, we did have a friend fall on the way down.  Nothing serious, just some scrapes on her elbow & knee.  We always carry a first aid kit so had some antibiotic wipes & band-aids to get her cleaned up and back at it.  A backpack with any gear you may need is a necessity for all your hikes.  You never know what may happen out there in the wilderness.  It's best to be prepared.

Hiking is one of our favorite things to do in Summit County in the summer.  If you want hiking information or recommendations feel free to contact us.  Text, call, email or simply stop by.  No purchase required!  

July real estate sales are up but...

by The Mountain Living Team

Rolling along Residential real estate sales have been rolling along at a pretty similar clip to 2017.  Some months better than last year, some months not.  July happened to be one of the up months. 

There were 182 residential sales in Summit County in July.  That's up 11% over July 2017 when there were 164 sales.  That gain didn't erase the year to date decline. Through July, residential sales are down 4.6% , or 45 sales, vs 2017. 

Monetary volume was up slightly for the first seven months of the year with a 3.9% increase.  That means people are spending more money on each purchase.  Average sales price of a home is up to $751,589 so far in 2018.  Compare that to $690,555 in 2017.  That's an 8.8% increase.  However, more properties over $1,000,000 have sold in 2018.  There have been 181 sales over $1,000,000 or 19.3% of all residential sales this year.  In 2018, $1,000,000+ sales made up 16.8% of the market with 165 sales.  

Sales under $300,000 have declined dramatically this year.  Those properties made up only 8.8% of the market, or 83 sales this year vs 17.9% or 176 sales in 2017.  That is because of the lack of properties available in that price range.  There is still plenty of demand for lower priced properties.

Cash sales have declined slightly this year too.  Only 27.9% of all residential sales were cash transactions.  In 2017, cash sales made up 30.9% of the sales.

Selling quicklyProperties are selling even faster this year than last.  So far this year, 67.2% of all listings sell within 30 days of going on the market.  It jumps to 77% when you include those that sold before 60 days.  In 2017 those numbers were 63.7% and 74.3% respectively.

So far this year, prices are higher and sales are quicker.  Buyers need to be aggressive to get in the market today, especially at the lower price points.  Cash sales are still king but if you are a cash buyer you may not be the only one.  Just over one out of four buyers are cash.  Keep that in mind especially when competing for a property.

Sellers still have the upper hand but price reductions are common in our market.  That means even though the market is hot, the property needs to be priced competitively for buyers to take notice.  Updates and maintenance make a huge difference in desirability.  Even furniture can make a difference.

Mountain Living Real Estate is here to inform you and help to decipher the numbers into facts that help you make the best decision for you and your family.  Contact us and let us help you with your Summit County real estate needs.

 

 

Voting is now open for the Best of Summit 2018

by The Mountain Living Team

Best of Summit 2018It's that time again when Summit County locals, part timers and visitors get to vote for the best companies, experiences, people and food and drinks.  Now is your opportunity to let them know you appreciate everything they do for you.  

It's quite a list with everything from hair stylists to margaritas to plumbers to ski mountains and, of course, real estate companies.  You don't have to vote in every category but it's a good way to get an idea of who rises to the top around town.  Everyone you have the opportunity to vote for had to be nominated first.  

If you have had a first hand experience with us, we hope it was worthy of a vote for our company, Mountain Living Real Estate.  We strive to provide exceptional services and information to everyone we come into contact with, regardless if you buy or sell a property.  If you are just reading blog posts, or using our website to see how much properties run up here, or interacting with us on social media, we work hard to help however we can and make a great impression on you.

Voting for the Best of Summit runs from August 15th to September 15th this year.  Don't miss your chance to voice your opinion.  Vote today!

If you are considering buying or selling property in Summit County, Colorado, contact us and let us help you.  We handle ski condos, vacation homes, full time residences, shared ownerships, land and commercial properties in Breckenridge, Dillon, Copper Mountain, Frisco, Keystone, Silverthorne and areas just outside the county boundaries.  Work with us and you'll understand why so many people say, "We Love Mountain Living!"

Click here and vote now for Best of Summit 2018

Hiking McCullough Gulch

by Meredith Adams

We try and get out for a hike every week.  Last week we hiked McCullough Gulch.  It's a very popular trail that starts south of Breckenridge.  In about 1.5 miles you can get to a waterfall, a lake beyond that, and many more higher lakes after that.  We went to the second lake this time making it a 7 mile hike.  The wildflowers were pretty in the meadow before the second lake.  This year has been a dry year and they were still good.  On a wetter year I bet they are spectacular!  Take a look at the video below for a glimpse of what this hike offers.  There's nothing like seeing it in person though so add this hike to your list.

McCullough Gulch Hike from Meredith Hanson on Vimeo.

Free Chipping Program Continues in Summit County

by The Mountain Living Team

Summit County is once again encouraging residents to do fire mitigation around their properties.  This summer the county will make its way through neighborhoods chipping up slash piles left at the curb as directed.  If you haven't started to clean up down branches and woody vegetation, don't worry, there's still time.  The county has a schedule and are trying to hit every neighborhood twice to allow ample time for clean up efforts.  

You can pile small branches and other natural vegetation at the edge of the road before the Monday morning your neighborhood is scheduled for a pick up.  The piles must be no bigger than 5'x5'x5' and contain logs no larger than 12" in diameter.  Please don't include willows, cottonwood trees or lumber & other building materials.  If you have more than 20 piles to be chipped, please give the county some advance notice.

With the recent fire scares it seems everyone is embracing the idea of defensible space and are taking full advantage of the program the county is offering.  As a result, the county is running behind schedule.  They have brought on additional crews to catch up and maintain the schedule.  However, if your slash hasn't been picked up by the Sunday evening of your scheduled week, please fill out the appropriate form and let them know.

If you'd like more information on defensible space and protecting your home from wildfires, read our recent blog post Buffalo Mountain Fire and the Lessons Learned. 

Nominating the Best of Summit 2018

by The Mountain Living Team

Every year the Summit Daily, Summit County's free local paper, has a contest called the Best of Summit.  It gives their readers an opportunity to nominate & then vote for their favorite local businesses, activities, events & more.  

If you have been to Summit County and had a great experience somewhere, take this opportunity to express your appreciation to that business by nominating them for the Best of Summit.  It gives the businesses some free publicity and let's others know where they can find a high quality experience.

It's our goal to give all our clients and, really, everyone we come in contact with a high quality experience that they simply can't imagine how it could be better.  If we have achieved that for you, please take the time to nominate Mountain Living Real Estate or Jason & Meredith Adams under Real Estate in the Service section of the Best of Summit.  Nominations are only accepted until August 1, 2018 so don't delay.

Here's the link: 

http://summitdaily.secondstreetapp.com/Best-of-Summit-2018/

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Jason & Meredith Adams
Mountain Living Real Estate
101 E. Main Street, #109 / PO Box 4115
Frisco CO 80443
888-666-0844