It use to be that when people got to retirement age here in the Colorado High Country, they would leave as life was too harsh here. BUT, now that Summit County has a very modern hospital and wonderful grocery stores and factory outlets stores as well as a Wal-Mart and Target, life here in the high country has become must easier.  The county is looking at ways to have more housing available that will meet the needs of the ever increasing senior citizen population. They are also looking into meal services and affordable senior living options. This is an exciting time here in county.

There are a few indicators showing improvement in the outlook for the real estate market over the next 6-18 months. Mortgage interest rates are at a 50-year low, and according to industry analysts, should stay low in the coming months. The Fed’s rate-setting Federal Open Market Committee did the inevitable this week and kept its target for the federal funds rate unchanged, at a range of zero percent to 0.25 percent. As a result, the prime rate remains 3.25 percent. That means interest rates will stay unchanged for consumer debt that is pegged to the prime rate, including home equity lines of credit and some credit cards. On top of that, the Fed will more than double its purchases of mortgage-backed securities. That should put a ceiling on the 30-year fixed mortgage rate, which has been below 6 percent all year and could conceivably park itself below 5.5 percent for months to come.

There are a myriad of choices which offer any combination of topography, exposure, sun, trees, prices and neighborhoods. With warmer days just ahead, this is a terrific time to buy land, allowing you the opportunity to tailor plans for your home and work with an architect and designer, apply for necessary permits, and be ready to break ground when the weather breaks in warmer weather.

Among the great options for building sites, for example, are the lots in the Highland Meadows subdivision close to Farmers Korner or in The Highlands at Breckenridge. These newer neighborhoods offer great locations in the county. Lots in these two newer neighborhoods generally range from the low 300s to the high six figures.

On the other side of the scale are the parcels at Western Sky Ranch. Just over two miles north of Breckenridge, this enclave of sites ranges from three acres to twenty three acres and enjoys views which include the Tenmile Range, Breckenridge Ski Resort and the Lake. The amenities include carefully designed building envelopes to protect privacy and view corridors, buried utilities and paved roads. These special sites begin at $499,000.

If a home on the ski run is of interest, there is a fabulous lot in the new neighborhood at Lomax Estates in Breckenridge. The site at 71 Lomax is .68 acres with the Skyway Skiway running by to bring you home at the end of the day or to allow you to ski down all the way to the Gondola. With good views of the mountains and of town, the land is located on a quiet cul de sac and is offered at $985,000. As an added bonus, town is only a short walk and the free bus system runs nearby.

Once you have determined which type of home and lifestyle are fueling your dreams, this will direct your choices. As we all know, “they aren’t making land anymore,” so an investment in land is a terrific step toward realizing your dreams of a piece of our Rocky Mountain paradise.

When considering a second home or investment in Breckenridge, however, do not concentrate on the “deal” as much as solid criteria for selecting the property. First of all, the floor plan should be a good one and suit today’s lifestyle and your needs in particular. You can remodel with more recent finishes, but the fundamental “bones” of the home need to work well.

The location is important and your realtor can assist in discussing on-mountain versus town versus remote locations. Your selection will be based on how you will use the property yourself and your lifestyle needs. A view is often a sought-after feature and, thus, is valuable for resale. Remember that to be a solid long term investment, it is important to choose a residence with broad appeal. The same things that attract you to the home will help sell it when the time comes.

When looking for a second home, according to the National Association of Realtors surveys, location is number one. Additional features that are important to luxury buyers include well designed kitchens, main floor master suites, bedroom-bath suites for secondary bedrooms, a separate “family” or media room, storage, and updated bathrooms.

As the economy strengthens, it has never been a better time to invest in a solid market like ours. This is the perfect time to consider an investment you can enjoy which fits into your long term investment strategy.

If you overprice by 5 percent, you are going to have to end up going below the market by 5 percent to make up for it! Overpriced homes that linger on the market cease to be the “shiny” penny on the table, requiring a larger discount to attract buyers.
Here are some tips on how to do that from day one, says Candy Snyder, Broker Omni Real Estate

• Understand the trend. When home prices are moving lower, start at just under the market rate to avoid playing catch-up. Some savvy sellers price low enough to draw competing bids, netting more than they might have by starting higher.

• Know your home. Some sellers overprice their homes because they don’t appreciate the upgrades and extras that comparable homes on the market have. Just because homes are nearby doesn’t mean they have similar values.

• Know your neighborhood. Are buyers in the area seeking a fix-and-flip or a trophy home? First-time buyers, a larger share of the market this year, want a good value without major renovations, while investors are often focused on the bottom line.

• Measure your endurance. Study how quickly homes are selling in the area, the absorption rate, and price accordingly. Some sellers price too high given their ability to wait out the market, only to surrender months later with a huge price cut.

• Don’t kill the messenger. Some real estate agents tell sellers what they want to hear. The experienced and ethical ones will suggest a price even if the seller doesn’t want to hear it. The first sell hope, the second will sell your home.

Sellers should know their maintained homes should be worth more than heavily discounted bank-owned properties, but figuring out how much is more art than science.

Psychology is another factor. Some sellers, remembering an appraisal from a refinancing two or three years ago, prefer to price on hope. And with listings harder to come by, some real estate agents will tell them what they want to hear rather than what they need to hear. Never hire a broker based on what he tells you “he or she thinks they can sell your home for”.  Always evaluate the marketing plan. Simply placing an ad in MLS, posting a yard sign and printing up some pretty brochures is not much of a marketing plan. There are only two reasons a home will sell says Snyder   PRICE & EXPOSURE”

One in every 349 Colorado households received a foreclosure filing in April, nearly 1.5 times the national average, according to the company that tracks foreclosure data nationwide and sells foreclosure data.

Foreclosure activity in April was down nearly 3 percent from March but was 3 percent higher than in April 2007, according to the report. Nevada had the nation’s highest foreclosure rate, with one out of every 146 households receiving a foreclosure notice last month.

The Shores at Breckenridge is a subdivision that is near a place on the Blue River, that might just be for you. The Shores at Breckenridge are one of the more premier spots to build a mountain home. The Shores at Breckenridge is located just north of Breckenridge, where you can stand on the bank and look across designated open space to the Ten Mile Mountains, Old Baldy, Silverheels peaks and on away forever. From the dam at Dillon Reservoir all the way to Kremmling (something like 38 miles) the Blue is a Gold Medal Stream. The Blue isn’t a big river, which is part of its charm, and part of its challenge. You can easily wade in most parts of it.

The Blue river that runs through Breckenridge is your quintessential mountain stream. The Gore Range rises off to the west, parts reaching over 13,000 feet. These beautiful mountains are home to the Eagles Nest Wilderness. To the east lies the Williams Fork Mountains. Not as high as the Gore, but still respectable at almost 11,000 feet. Pines and firs line the section between Silverthorne and Green Mountain Reservoir. Even though you’re within a few minutes walk of Hwy 9, you are brought into the peace and quiet of the river, seeming to be miles from anywhere.
Breckenridge offers the outdoorsman or nature enthusiast recreation activities all year around. The winters come alive with skiing, ice skating and a variety of winter carnivals, festivals and events including various ski and snowboard competitions. In the summer you can enjoy kayaking, golfing, biking, hiking/trails, nature series and cultural arts.

The great scenery, a wonderful climate and variety of activities make Breckenridge a year-round resort for every interest. Located in the heart of the Rocky Mountains, Breckenridge, Colorado is the perfect

place to relax and enjoy life. With temperatures ranging from 28 degrees Fahrenheit in the winter to 70 degrees Fahrenheit in the summer.

During the 2005-2006 ski season, Breckenridge Ski Resort hosted more than 1.4 million skiers and riders. The resort offers skiing and snowboarding for all levels with more than 2,200 acres spread across four interconnected mountains and can accommodate over 18,000 visitors on peak days. With bumps, chutes and bowls, the wide diversity of the terrain challenges the most advanced skiers. For the less advanced the resort offers plenty of “skier friendly” terrain.

Breckenridge Ski Resort also offers 27 lifts, including six high-speed quad superchairs and two six-person high-speed lifts that access 146 trails. A variety of ski and snowboard lessons, several “on mountain” dining options, and four terrain parks and pipes are offered. The resort is also open during the summer and the slopes are used for hiking, scenic chairlift rides, the ‘SuperSlide’ and mountain biking. The human maze, climbing wall, quad power jump, ziplines, alpine barbecue, and a children center are other attractions offered during the summer.
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.

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.

Title companies are forced to pay kickbacks for referrals under the guise of marketing agreements, the state says.

The agents received incentives from their companies in exchange for referring their clients to the title companies that make payments, said Erin Toll, director of the Division of Real Estate.

“These types of payments to real estate settlement providers are bad for consumers because they artificially inflate the price of title insurance,” Toll said. “I believe this is one of the reasons that title insurance rates have not decreased even though title searches are nearly 100 percent electronically performed.”

Title insurance, which typically costs home sellers between $500 and $1,000, protects lenders and owners against losses from property-ownership disputes.

Toll said the alleged kickback scheme comes under the guise of “marketing agreements.”

“They’re saying: You can have exclusive rights to all of our work if you pay me money and we call it marketing,” she said.

In her previous position as the state’s deputy insurance commissioner, Toll gained national attention when she launched a broad-reaching investigation of kickback arrangements in the title-insurance industry.

“This is a different form of the same thing,” Toll said. “It’s illegal to give remuneration in any form for referral of business tied to a federally related loan, which most mortgages are. It’s insidious. It’s everywhere.”

Feds also probed referrals

The current investigation comes more than two years after Toll prompted the federal government to mount an aggressive campaign to stamp out illegal referral fees that were in violation of the Real Estate Settlement Procedures Act.

The U.S. Housing and Urban Development Department settled at least a dozen kickback cases in 2005.

Some of the state’s best-known real estate firms are among those being investigated. They are Re/Max International Inc. in Greenwood Village; Slifer Smith & Frampton in Avon; Fuller Towne & Country Properties in Greenwood Village; Coldwell Banker Residential Brokerage in Denver; Keller Williams Real Estate LLC in Littleton; Keller Williams Executives Realty in Highlands Ranch; Re/Max Properties Inc. in Colorado Springs; McGinnis GMAC Real Estate in Colorado Springs; and Home Real Estate in Centennial. The California company is First American Residential Group Inc., a Santa Ana title insurance company.

Many of the brokerages said Thursday that they had not received a subpoena.

Heather Parness, broker of record for Fuller, and Brad Smith, owner and employing broker of Home Real Estate, said they do not have marketing agreements with any real estate settlement service providers.

Brokerage: Tight, clean ship

Joe Clement of Re/Max Properties Inc. in Colorado Springs said he has an agreement with Wells Fargo for mortgage business. He leases office space to North American Title and Security Title but said he does not have agreements with either company.

“We run a tight, clean ship,” Clement said. “I like to stay out of jail. It’s tough enough out there.”

Julie Bergsten, vice president of Slifer Smith & Frampton, declined to comment.

Shaun White of Re/Max International said the company handles franchising, not real estate transactions.

“We’ll have to get our hands on the subpoena and see what we have to say about it,” he said.

The remaining brokerages did not return phone calls Thursday.

Jerry Spaeth, president of First Integrity Title in Denver, said he has not been asked for money in exchange for business.

“If it is happening, it would explain a lot of the loyalty we run into,” he said. “Generally it’s hard to get Realtors to switch. They tend to be very loyal, more so than mortgage brokers and mortgage lenders. The title companies in town seem to have a very strong hold on some of the larger real estate brokerages.”

The Division of Real Estate wants the brokerages to provide the marketing agreements they have with all real estate settlement service providers; agreements where they give something of value to a provider or the provider is giving them something of value; information on how much business was given to a provider; and details on compensation paid.

Since taking over the Division of Real Estate in 2006, Toll also has launched investigations into appraisers inflating the values of conservation easements and mortgage brokers committing mortgage fraud.