July 2nd, 2010
June 2010 over June 2009 was up more than 79%, so it wouldn’t seem that we would have a poor summer selling season. Year to date we are up 38%. So how would we have a disappointing summer? My interpretation of the market is based on facts, but it also has a little intuition thrown into the mix. That feeling comes from talking to other agents, to clients and potential clients. My intuition and gut feelings for what is happening this summer so far, is what makes me think that we will not have the summer we hoped to have.
The numbers show us to be right on target so far, but my concern is not for the numbers, but for people with properties to sell.
June 25th, 2010
All I ever wanted to know about waste is how to flush the toilet and, reluctantly, how to use the plunger. If your house is connected to a sewer system, you may be able to get by on that knowledge, but if you have a septic system there is a little more information you should […]
June 25th, 2010
Now that was a hike! The Summit Hiker says it is 11 miles, but from the bus stop at Copper Mountain to the County Commons complex in Frisco we registered 13.5 miles on our GPS. We actually shortened the hike, taking the Miner’s Creek 4 WD road rather than going past Rainbow Lakes as suggested […]
June 14th, 2010
It would be nice if something was happening with real estate at Copper Mountain! There have been only eight sales so far in 2010, and five more properties are under contract. There are 126 Copper Mountain condos and homes for sale as of today, June 14. Assuming all five under contract close, there will have been 13 sales in 6 months. In Summit County, about 60% of our business is done in the last six months of the year, but let’s assume our sales to date would only be 30% as it is a ski area and the majority of closings occur right before ski season start. That means that we might expect to have 20 more sales at Copper this year for a total of 33. With 126 on the market, the odds don’t look good for getting the condos sold. If only 20 more might sell, or 16% of what is currently listed, (assuming no new listings come on the market) then it will be the best priced, the best looking, with the best location, that are the lucky ones. In other words, the cream of the crop.
Why don’t Copper Mountain Sellers just reduce the price and get the job done? Some do……
June 4th, 2010
Small, steady increases, seem to be our new normal. While a 31% increase for the month sounds like a lot, it was only 89 transactions versus 68 a year ago. As a comparison, in May 2006, we had 219 transactions. However, slow and steady, as long as it is going the right direction, is ok with me. We actually have less inventory this year, with only 1791 Summit County homes for sale versus 1830 at this time last year. Listing season is a little later though, as people waited to see what the market would do. In the last month we have had 198 new listings and they are continuing to come in. We will probably catch up to last year’s inventory number this month. As long as we have more Buyers than we did last year, we will be ok. A recent article in the Denver Post, in which I was quoted, said that the big chill in all resort real estate is slowly thawing. Here is what they said about Summit County homes:
