Real estate investors in Summit County—in Breckenridge, Keystone, Dillon, Frisco, Silverthorne, and the environs: Put on a positive attitude! There are plenty of solid opportunities in the resort markets, even though headlines continue to spill out grime tales through the nation. Remember the Law of Attraction? A positive attitude of success will move mountains and may even move you to Breckenridge CO real estate and the Ten Mile Range where you’ll revel not only in the views of the Continental Divide but you’ll be able to conquer it.
Write down the vision of your Summit County real estate investment. Concentrate. Keep alert. Take Action. And, as you steer your ship right through the narrow straits of the market, stay calm. Remember your vision, especially when the high waves are lapping at your feet.
Like the stock market, there is a profit to be made in today’s real estate market. Although our resort area has been spared the dramatic difficulties and deterioration of home values that some urban areas are seeing, our market has been adjusting itself little by little.
For one thing, the lenders have tightened their standards. However, most of our property owners own other properties and do not have a poor credit history. Sub-prime loans were generally extended to those with lower credit and/or insufficient down payment. The boon to our investors right now is the temporary increase in the government-backed loan packages, which is based on our high property values.
Another element of today’s investment market springs from the careful lending process. There are not as many creative loan packages available. But, buyers who take a methodical approach will be able to find a product that suits their needs.
Then, we have fewer qualified buyers shopping. This creates a piggyback effect as some people are trying to sell a property elsewhere before they buy here. And, it can also mean that sellers will need to steer into the curve to help out the buyers who do want to purchase property in the Rocky Mountains. A little give on both sides will help the market to continue to chug along.
As unexpected things come up, investors will find that it is best to be pre-approved. Being ready to make an offer, a buyer can move quickly when the right property comes available for the right price. And that can be worth hundreds of thousands of dollars.
Market fluctuation is like the sine wave, regularly going up and down over time. There are some great deals to be had during this cycle for those who keep their eye on the goal. Jonna Beardsley of Breckenridge Associates offers professional real-estate assistance in the resort areas of the Rocky Mountains. She can be reached at (970) 453-2200 or (800) 774-7970.
