Breckenridge Real Estate Blog

BRECKENRIDGE- One of the advantages of being in Summit County, especially right now, is the fact that our resort market is attracting foreign buyers. Prices in our area are still strong for sellers as the strength of the Euro seems to be causing Buyers from other countries to come out of the woodwork.
According to a new study by the National Association of Realtors, about one in five American real estate agents sold a second home in the year ending April 2007 to a foreign buyer, defined as someone who has legally entered the United States to buy a home. A quarter of the agents surveyed said their business with overseas buyers had increased over the past five years.

Interest is up primarily because the weak dollar gives foreigners more buying power, but also because American home prices are low compared to places like Britain and Japan. With their increased buying power a lot of them perceive the United States as a bargain.

Buyers are coming from all over the world, the National Association of Realtors study says, but the biggest proportion — about a third — is from Europe, while a quarter come from Asia and 16% from Latin America. By country, the largest proportion of buyers comes from Mexico (13%), the United Kingdom (12%) and Canada (11%).
The study showed that 47% of foreign buyers were looking for a place to vacation, while 22% wanted an investment. Nearly a third cited both motives for their purchase. Though most purchased single-family homes or townhouses, 22% bought condominiums because of the investment potential as well as the fact that maintenance is taken care of usually through HOA dues.

Resource
A Colorado Rental Property Resource for both landlords and tenants can be found at http://www.coloradorentalproperty.net . Online land lords can post detailed information regarding their rental property, including 5 color photos. The ad can be self directed by the landlord to their cell phone or property management company. This is a service provided FREE by RealEstateColorado.Net and the ad will remain on line until it is asked to be removed.

REAL ESTATE
If you would like additional information about real estate in Breckenridge Colorado as well as anywhere in Summit County Colorado contact us at 1-800-791-3990 ext 421.

Jeffery McClintock is a real estate broker in Summit County and prides himself on providing clients with professional guidance in all phases of residential new construction, including market research, product development, consulting, marketing and advertising. His personal mission is to bring to you a level of knowledge, experience, commitment, high standards and results to answer your real estate needs. He believes, the most effective way to provide superior service is to build a strong working relationship with you. His system includes regular consultations and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.

Jeffery has been a licensed Realtor since 1995. During this time he has successfully closed over 135 million dollars of residential real estate, and 40 million dollars in un-improved land amounting to 660 real estate transactions. His professional experience includes the Denver Colorado front range and the Second Home market in Breckenridge, Colorado located in Summit County.