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Breckenridge Associates Real Estate Spring Edition | 2010

Delivering Real Estate Results: Past, Present & Future

NOVAK & NELSON

REAL ESTATE GROUP

COLORADO WEST

SLIFER (BRECK PEAK 8)

RESORT BROKERS

PAFFRATH & THOMAS

SLIFER (BRECK MAIN ST.)

PRUDENTIAL (BRECK)

COLDWELL BANKER (FRISCO)

TEN PEAKS SOTHEBYS

SLIFER (BRECK S. MAIN ST.)

REMAX (BRECK)

SLIFER (KEYSTONE)

REMAX (FRISCO)

BRECK ASSOCIATES

After successfully closing two major record-breaking sales in the past couple of months as well as achieving leading brokerage status in Summit and Park County sales volume for 2009, we are pleased to report a stable stretch of accomplishments among the Breckenridge Associates Real Estate team in what has otherwise been a challenging time for many local brokerages. The two record-breaking transactions consist of the highest-ever single-family home sale of nearly $8.3 million at the close of 2009 and the most expensive residential lot sale of $3.3 million in January of this year. Each property is ski-in, ski-out and located in the luxurious Timber Trail Subdivision near Peak 8 Village of the Breckenridge Ski Resort. Breckenridge Associates Real Estate represented the seller in both listings. The $8.3 million sale surpassed the previous record holding transaction, which was also a Breckenridge Associates Real Estate listing, by more than $2.7 million. Local MLS data pulled at the close of 2009 has proven positive for Breckenridge Associates Real Estate in total sales volume and number of transactions in the area. The graph below shows our office as the leader in total dollar volume for the year in Summit and Park Counties among the top-15 local real estate offices. Likewise, in overall sales we 2009 Total $ Volume of Sold Property were involved in, we represented Summit & Park Counties more transactions than any Top 15 Local Real Estate Offices other off ice in Breckenridge $70,000,000 and performed the second best $60,000,000 out of all offices in Summit and $50,000,000 $40,000,000 Park Counties. The graph on $30,000,000 the next page is representative of $20,000,000 Breckenridge transactions of the $10,000,000 $0 top-16 local real estate offices. Not only has our brokerage driven up sales volume by selling high-end luxury homes, but we also handle a vast cross-section of properties in all price ranges. These statistics prove our team’s ability to Selling Side $ Volume Listing Side $ Volume excel in all segments of the market from entry-level condos to multimillion dollar estates. Source: Summit MLS, March 5, 2010 (continued on page 2)

Table of Contents Delivering Real Estate Results: Past, Present & Future  page 1 How to Spot a Good Deal

page 2

A Great Time to Buy

page 3

Market Activity Snapshot

page 3

Supporting Our Local Community

page 4

®

World Class Service. Home Town Team.

229 S. Main St. Breckenridge, Colorado | 970.453.2200 | 800.774.7970 | www.breckenridgeassociates.com


2009 Total Number of Transactions Breckenridge Top 16 Local Real Estate Offices

OMNI (BRECK)

REMAX (FRISCO)

MCGAHEY REALTORS

COLORADO PREMIER

SLIFER (BRECK PEAK 8)

REAL ESTATE OF THE SUMMIT

Total # Transactions

COLDWELL BANKER (BRECK)

COLORADO WEST

TEN PEAKS SOTHEBYS

PRUDENTIAL (BRECK)

SLIFER (BRECK MAIN ST.)

RESORT BROKERS

SLIFER (BRECK S. MAIN ST.)

REMAX (BRECK)

PAFFRATH & THOMAS

120 100 80 60 40 20 0 BRECK ASSOCIATES

Delivering Real Estate Results (continued from page 1) The longstanding experience, knowledge and stability of Breckenridge Associates Real Estate allows our clients to have confidence and trust that our team will represent their property better than our competitors. With nearly 80 percent of our business comprised of loyal clients and their referrals, it’s rewarding to know we are providing the highest level of customer satisfaction. Thank you for your continued support in the past, present and future of Breckenridge Associates Real Estate. If you are considering selling or buying property in Breckenridge or the surrounding areas and would like more information on Breckenridge Associates Real Estate and how our team can best work for you, please contact our office today.

Source: Summit MLS, March 5, 2010

How to Spot a Good Deal: Foreclosures Aren’t Always What They Seem Most homebuyers in search of a property automatically assume buying a foreclosed home means they’re getting the best deal out there. However, this often isn’t the case. Purchasing a foreclosed home truly can be a great investment, but it could also be an eye-opening experience for those not aware of the process and problems that can arise along the way. Fortunately, from a property-value standpoint, we have not seen significant growth in the number of foreclosures locally as many other markets have experienced. Out of 26,765 properties in Summit

County only 47 were sold as foreclosures in 2009*. Unlike many areas, Breckenridge has a high number of cash transactions. This coupled with a healthy rental pool and a stable tourism-based economy, has surely helped to keep foreclosures to a minimum in the area. That’s not to say there aren’t great opportunities. There are, however you have to stay on top of the local real estate happenings in the area not to miss out. One of the reasons a foreclosure may not be as good of a deal as it appears to be on paper is that distressed home sellers may have more debt than just their home mortgage. They may have a lien or loans against their property, which the bank could factor into the



sale price. Another issue could be the amount of work and repair needed on a home, if the sellers had stopped maintaining it. A home may sit vacant for months, which could be problematic in a winter climate such as ours, where bursting pipes can cause serious damage. Foreclosures typically take a lot longer to close on the sale, therefore buyers need to be flexible on their timeframe. Securing property prior to a foreclosure can mean the difference in having a move-in ready, beautifully furnished home versus a bank-owned home typically stripped of its contents. Buyers need to be aware of these types of concerns when pursuing a foreclosure, but if the price is right and the home is free of these types of issues, buying a foreclosed property can prove to be a very wise purchase. Establishing a relationship with a knowledgeable broker and sharing what you are looking for up front will allow you to get a jumpstart on finding the best property for you. Knowledge of the local real estate market and access to a network of resources are invaluable in finding a great real estate opportunity. More often than not, in our market, the best real estate deals are found prior to a property facing foreclosure. Being aware of new inventory before it hits the market, monitoring shifts in the existing inventory (i.e. price reductions) and the ability to act quickly are all key strategies. A reputable real estate broker should be able to offer insight on an ideal opportunity if it arises, as they’ll be in tune with a home’s value and current financial situation, both of which will help to determine the true value of the deal. Our team of Realtors® is out in the local market every single day, networking with our contacts and working together for our clients so we can best represent their needs. Breckenridge Associates Real Estate’s “Home Town Team” has a proven track record and longstanding success to best represent you. Contact your broker today to learn more about great deals in the area and how we can help you find your next mountain home. *Source: Stewart Title Company 2009 Foreclosure Data

229 S. Main St. Breckenridge, Colorado | 970.453.2200 | 800.774.7970 | www.breckenridgeassociates.com


Spring is a Great Time to Buy Property in the Mountains As the winter ski season winds down and comes to a close in Summit County, homeowners wanting to sell their mountain property will most likely list in the spring. It is typical in our market cycle for new listings to become available in the next couple of months so they can be properly marketed and exposed for the high buying season of the summer. From a buyer’s perspective, higher inventory levels typical in the spring mean a wider range of properties to choose from. Likewise, since many wait until the summer months to begin the search for their mountain property, those starting prior to the busy season will have less competition among buyers interested in the same type of property. Savvy buyers are able to take advantage of a larger inventory and secure the best deal by beginning the search process early in the season. If you’re in the market for a new home and planning on buying this summer, it’s not too early to start the process now. Contact your Breckenridge Associates Real Estate broker today to learn more about available listings in the area.

Recent Market Activity Summit MLS data indicates an increase in Summit and Park County sold residential properties and vacant land from December 1, 2009 to March 25, 2010 over the same time frame the year prior. This nearly four-month time period indicates there were 343 sales in 2009-2010 versus 251 sales in 2008-2009, a year-overyear increase of 37 percent. The table to the right shows Breckenridge Associates Real Estate listings sold during the December 1, 2009 to March 25, 2010 timeframe. Our listings sold during this time period over the same period the previous year have increased by more than 50 percent, a healthy improvement and strong indicator of first quarter sales for 2010.

R eal estate inventory is typically higher in the spring, making it an ideal time to buy.

Breckenridge Associates Real Estate Sold Listings December 2009 Breckenridge – 382 Timber Trail Rd. Breckenridge – 68 Boulder Cir. Breckenridge – 365 Preston Way Breckenridge – 237 N. Fuller Placer Rd. Breckenridge – 514 Wellington Rd. Blue River – 96 Hamilton Ln. Breckenridge – 121 SCR 533 Rd. Blue River – 1933 Valley of the Sun Dr. Dillon – 422 Alpine Rd. Silverthorne – Buffalo Mtn Townhomes #1C Breckenridge – Warriors Preserve Sub. January 2010 Breckenridge – Timber Trail Sub. Frisco – 194 Mount Royal Dr. Breckenridge – 68 New England Dr. Silverthorne – Eagles Nest Golf Course Sub. Keystone – Flying Dutchman Condo #1182 Breckenridge – Highlands at Breckenridge Breckenridge – Liftside Condo #307 February 2010 Breckenridge – 223 S. Gold Flake Ter. Breckenridge – 16 Dyer Trl. Breckenridge – 726 Moonstone Rd. Blue River – 68 Starlit Ln. Breckenridge – Baldy Mtn Townhomes #3 Blue River – 1041 Circle 73 Dr. March 2010 Breckenridge – 1014 Brookside Ln. Dillon – 18 Brushwood Ct. Breckenridge – Warriors Mark Townhouses #A Heeney – Green Mountain Overlook Keystone – Lakeshore Condo #1529

$8,285,000 $2,050,000 $1,260,000 $1,035,000 $800,000 $575,000 $531,500 $500,000 $430,000 $415,000 $415,000 $3,300,000 $1,183,000 $890,000 $379,000 $298,000 $266,000 $242,500 $1,260,000 $1,245,000 $740,000 $465,000 $326,000 $186,500 $1,035,000 $800,000 $490,000 $475,000 $235,000

Source: Summit MLS, March 25, 2010

229 229S.S.Main MainSt. St.Breckenridge, Breckenridge,Colorado Colorado||970.453.2200 970.453.2200||800.774.7970 800.774.7970||www.breckendridgeassociates.com www.breckenridgeassociates.com




Proudly Supporting Our Local Community

List Your Property With Us Today

As a locally owned and operated company, we are truly invested in making certain our community is growing, thriving and enjoyable for generations to come. To help give back and show support locally, we have chosen to focus charitable efforts in the areas of the performing arts as well as through the endorsement of successful, longstanding events. Both bring entertainment and value to our community and help cultivate Breckenridge’s success as a world-class, year-round vacation destination. We proudly support The Summit Foundation, National Repertory Orchestra, Breckenridge Music Festival, Breckenridge Film Festival and International Snow Sculpting Championships, just to name a few. Thanks to our loyal clients, our accomplishments as a company allow for us to continue to sponsor these invaluable organizations close to our hearts.

Timing is everything. List your property with Breckenridge Associates Real Estate now and take advantage of our summer marketing campaigns to maximize your property’s exposure during the peak selling season. Please contact us today at 800.774.7970, to learn more about our sales team and how to get your property sold.

Check Our References We would be happy to provide business references from past clients. Contact our office to learn more about our local real estate team, 800.774.7970.

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Breckenridge Associates Real Estate PO Box 768 229 S. Main St. Breckenridge, CO 80424 World Class Service. Home Town Team.

The Breckenridge A ssociates R eal E state Office is located at 229 S. M ain St., between Starbucks and Bubba Gumps.

To sign up for our monthly E-Newsletter, or to receive an E-Newsletter instead of a printed Newsletter, send an e-mail to mail@breckenridgeassociates.com with “E-Newsletter” in the subject line.

The Source Newsletter, Spring 2010  

The Source Newsletter, Spring 2010 Edition

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