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.

U-Haul said that for states with more than 20,000 families, Colorado had the highest percentage of growth, with 7.01 percent more families moving in than out of the state.

Oregon was second, at 3.67 percent. For states with 5,000 to 20,000 families moving, Maine was the top state, with a 14.75 percent growth rate. Delaware was second, at 8.98 percent.

The growth rate is figured by the percentage of inbound moves vs. the percentage of outbound moves.

Before you buy any property, ask yourself, “What’s more important, appreciation or positive cash flow?” Single-family homes in the most desirable neighborhoods may appreciate quickly, but because their carrying costs are high, they rarely generate the sort of income needed for positive cash flow. Multifamily units that bring in the bucks each month are likely to be in more modest parts of town and aren’t likely to show as great appreciation. You can’t expect to dine on T-bone steaks when you’re raising roosters.

Then, check track sales records, which you can get from the listing agent. If appreciation is your goal, then only look at homes that have appreciated well in the past, bearing in mind that the market is cooling. If you want guaranteed positive cash flow, insist that your real-estate agent show you income-producing properties with favorable balance sheets and with established, reputable tenants. Make sure that you see the income and expense statements for these properties for at least the previous two years. Pay attention to what’s been done in capital improvements, and what you can expect in terms of maintenance and repair costs, association fees and other expenses.

Most investors want positive cash flow and stable tenants, so don’t rush your search. Don’t believe those self-appointed gurus who say you can waltz into any town and find a terrific deal within a day without putting down any of your own money. If it were that easy, don’t you think they’d be doing these deals themselves instead of traveling from one dingy hotel ballroom to the next, touting their “sure-fire” systems? (Also, remember that plenty of amateur investors have taken these get-rich-quick courses, and are already hounding the relatively few desperate sellers who are the most open to no-money-down schemes — those going through divorce, on the brink of bankruptcy, or who inherited rental property they don’t want to manage.)

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.

The preliminary agreement between you and the builder should afford you the opportunity to cancel the contract for any reason at any time prior to the start of construction. That way, you’ll be in a better position to avoid repeating the preliminary steps with another builder immediately or, if the construction of your home has been postponed, in the future.

A preliminary agreement provides an understanding of the services the builder will render and the fee for those services. Preliminary agreements typically retain the builder to assist the buyer in evaluating and selecting a lot, monitoring the design and specifications process, estimating the cost of building the home, preparing a loan application package and starting the building approval process. Expect the builder’s fee for these services to amount to approximately 1 percent of the total construction cost.

If you later hire the same builder to construct your home, his or her fees for these preliminary services generally will be included in his or her cost estimate. If the builder’s performance under the preliminary agreement is satisfactory and he or she bids a fair price for constructing your home, it’s probably in your best interest to move ahead with the same builder.
The type of contract the builder will ask you to sign for the construction of your home will depend on the type of working relationship you’ve established. The longest and most comprehensive option is a full general contract. The shortest and least complicated option is a construction management contract. The latter arrangement requires more time, commitment and effort on the part of the buyer. Getting some advice and help from your attorney before you sign a contract with a builder is a smart idea.

The contract typically can include the following provisions:

Price and allowances. These items outline what is–and is not–included in the builder’s cost-breakdown.

Plans, specifications and cost-breakdown. These documents can be incorporated by reference into the contract.

Completion date.

Dispute resolution procedure. Negotiation, mediation and arbitration are alternatives to litigation.

Procedures for change orders.

Insurance. Including builder’s risk, worker’s compensation and liability. The contract typically should state the types of insurance and the policy limits and designate whether you or the builder will be purchasing each type of policy.

Warranty. The time frames and performance standards for warranty work typically should be clearly stated.

Special conditions. Any issues related to soils, weather or other miscellaneous factors typically should be explained in the contract.

Contingencies. Examples of contingencies include obtaining financing or selling your current home.

Payment procedures. The contract typically should detail when and how payments will be made to the builder.

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.

First of all the national mortgage mess means higher mortgage interest rates to all home borrowers here and nation wide. Losses accumulated from those home owners who are not or have not paid the mortgage for which they are responsible have to be offset from other sources. Some of those losses will be made up with higher mortgage rates from quality borrowers. Some of the losses will be made up once the homes in foreclosure are sold, and hopefully sold for amounts equal too or more than the amount owed on them. And finally some of the losses will be written off as bad uncollectible debt by the mortgage investors.

So now that we all understand that a few bad apples did spoil the bunch where do we go from here?

Currently the few national mortgage investors that still have their doors open and wanting new business have tightened up the lending guidelines. Just a few short six months ago if you had average credit scores you could borrow the entire purchase price of a home. Now you will be expected to actually make a down payment of five to ten percent of the purchase price.

In addition to higher rates and higher down payments the short term Adjustable Rate Mortgages that historically had lower interest rates now have higher rates than conventional thirty year fixed rate mortgage. This hurts those who planned to invest in second homes or rental properties as they now have to borrow purchase funds at a higher rate and to offset the higher payments they charge higher rents.

Another happening that is just starting is the rise in the conventional loan limits for conforming loans. It was recently limited at $417,000.00 and now Fannie Mae and Freddie Mac, along with FHA, are allowing non jumbo loans to $729,750.00. This means that higher jumbo rates start at that new higher limit.

By raising the conforming limit, which currently expires at the end of this calendar year, mortgage investors may sell those mortgages as meeting Fannie and Freddie guidelines. As of today, a very few investors have changed their internal conforming limits to that higher amount. And in talking to one national lender earlier today I was told that it is causing a problem as their investors have not accepted the new higher limit.

To compound this fact not every locale in the country will have the higher limit. So if you buy a home in Summit, Eagle or Pitkin counties the limit is $729,750.00. If you buy in Park or Grand County your limit is still $417,000.00.

Now after all of this, and with the changes in the mortgage marketplace that are occurring on what seems to be a hourly basis I suggest that you contact your friendly neighborhood mortgage professional to learn how it all effects you. Get the correct information directly from the head of the horse and you will not end up being the other end of that horse.

REAL ESTATE RESOURCE.

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.

If passed, House Joint Resolution 1008 would make skiing and snowboarding the official winter sport of Colorado, joiing the list of other state symbols which include the White and Lavender Columbine, the Colorado Blue Spruce, and the Rocky Mountain Bighorn Sheep.

The idea of skiing and snowboarding as an official winter sport comes as no surprise to local State Representative Christine Scanlan, who is also co-sponoring the resolution.

“Of course skiing and snowboarding are the official winter sports. There is no other winter sport that appeals to Coloradans of all ages and is so much a part of our rich outdoor history,” said Rep. Scanlan.

To see his efforts carried out, Kane and his entire fourth grade class from Dennison Elementary School in Lakewood, visited the capitol to watch the initial vote on the resolution.

The resolution will be voted on in the Senate in the near future, where it is sponsored by Senator Moe Keller (D-Golden). Unlike a bill, resolutions do not require a signature of the Governor before being officially recognized.

Colorado Ski Condition Report

Summit County commissioners expressed general distaste for requiring the developers to provide deed restricted units, they agreed some steps should be taken to ensure the residences will not be exclusively luxury second homes. The design calls for “higher end” finishes for the condos — complete with granite counter tops, slate and tile flooring, premium carpet, and natural wood cabinetry. Commissioner Terry Novak said he would like to see a commitment to getting full-time residents in there.

Because the site’s existing “commercial” zoning designation required a higher ratio of commercial to residential square footage and precluded any ground floor residential units, the town council passed an emergency zoning resolution in February to allow the planning process to continue. Even with the emergency accommodation, the owners must still meet the formal requirements for their proposed Planned Unit Development (PUD), as well as for the conditional use permit. If the approval process continues without a hitch, the developers expect to break ground spring in 2009.

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.