Although in most markets, home prices continue their downward spiral, some areas have seen an increase in market activity; for those who are interested in purchasing a home, affordability continues to be the most important issue. According to a recent article in the Los Angeles Times, activity has increased in some markets, like Phoenix, where bidding wars have occurred over foreclosures and short sales. According to reports, Phoenix has more homes for sale than at any time after 2006, and prices seem to be on the way to firming up. Buyers are coming back, attracted by the large sale discounts offered by foreclosed and distressed properties. However, home prices continue to drop in most parts of the country, but signs like those in Phoenix are a cause for optimism in the national real estate market.

The main concept is the affordability of homes in multiple locations. “Affordability is a huge topic of conversation today. And affordability has improved quite a bit in the past several years all around the country. In Phoenix and similar markets, there is no better time than now,” says Wayne Yamano, John Burns Real Estate Consulting’s Senior Manager.” The ratio between housing costs and income is currently at it’s best. In certain markets, like Phoenix, it can be more cost effective to buy a home (if you take into account the money saved by the tax advantages) than it is to rent the average price apartment”, he says. “When the peak selling period occurred, the prices were too high and the gap was huge.”

“But now,” he continued, “in many markets, we’ve crossed that threshold, so it’s cheaper to own a home than to rent.” Since interest rates on home loans are still quite low, this opportunity is even more attractive. Yamano says it’s quite hard to time the market. Consider your home to be a shelter rather than an investment. Don’t try to time the market; just make the leap and buy the house, especially if it suits the needs of your growing family. If you wait, you may find that even if real estate prices drop, interest rates may rise! “Interest rates are especially low now and we doubt that they’ll remain there for too long. In fact, in the last two weeks, we were looking at a considerable increase. Yamano mentions that, while it is possible that prices could decrease a little more, if you see interest rates begin to go up, then it won’t matter because you’re home payment would end up being the same.

Jonna Beardsley – Breckenridge Associates “Home town Team – World Class Service” is one of the many industry inside sources that have been put together to create Breckenride Real Estate More Affordable. For almost thirty years now in Breckenridge and Summit County, Jonna has been assisting investors with their real estate requirements. You can get in touch with Jonna through e-mail; jonna@breckenridgeassociates.com or cell 970-390-2533. Be sure to check out her web site: jonnabeardsley.com.

Some of the positive signs and indicators present in the Summit County real estate market include construction projects, renovations and remodels, low mortgage rates for second homes, and the continued popularity of Colorado’s playground.  Yet, in spite of the glimmers of hope, real estate agents easily notice that real estate transactions in the Breckenridge and Summit County areas are down approximately 60 percent when compared to 2008.

Because the average sales prices are reflecting values from 2006 and 2007, buyers and investors are taking advantage of the opportunity to purchase vacation homes, second homes, and investment properties.

Several large-scale construction projects are currently underway in our resort town.  Among them are 88 luxurious ski-in/ski-out condominiums at One Ski Hill Place the base of Peak 8.  This RockResort by Vail Resorts features refined mountain living and amenities, with residences ranging from studios to four bedrooms.  Other new developments include The Fairmont Lodge & Spa at Shock Hill and The Fairmont Residences on the River, and Water House on Main Street, which is convenient to our quaint Victorian downtown.

Another exciting project involves the Village at Breckenridge located at the base of the mountain.  Homeowners from the well-loved condominium community decided to commit $18M to an extensive remodel.  The decision will not only improves a long-term investment value of the resort it well return a property to flagship status among newer developments in the area.

Although a recent article in Forbes Magazine referred to Colorado as a top place to live for skiing and culture, Colorado Ski Country USA counted fewer skier visits during this past season.  Vail Resorts concurred.  However, the dip is not too dramatic.  Generations of skiers are loyal to their sport and find ways to cut back slightly without compromising their recreational needs.  The real estate market in the area is accommodating the need for people to modify slightly their real estate goals while moving forward to achieve their dreams. 

Jonna Beardsley of Breckenridge Associates offers a wealth of information about Colorado Rocky Mountain real estate.  Call Jonna at (970) 453-2200 for friendly, professional assistance.

Real estate investments in Breckenridge and Summit County Colorado are sound.  Home prices are not dropping wildly as in many cities and resorts.  The local resort market is not overdeveloped or speculated as some are.  The Breckenridge area does not have lists of foreclosed homes and properties like some parts of the nation do.

Being surrounded by national forests, build out is just around the corner, at least for Breckenridge homes and real estate in our mountain valley.  If we look at the trend for other ski resorts such as Aspen, when they reach build out the prices skyrocket. 

Another great reason to invest in a second home in Summit County right now is that inventory has remained steady over the last couple of years, but there are half the buyers.  That means buyers have a wonderful selection.  It also means that buyers have a little bit of negotiation leeway with sellers—but not much.  Why is that?  Most realtors in Summit County work closely with our sellers, advising them where their current standing will be considering overall market prices from a buyer’s point of view.

Have prices dropped?  Yes…sufficiently because we have half of the buyers and twice the inventory.  These factors combined with the low interest rates make a second home investment in Breckenridge or Summit County an outstanding time to buy.

Buyers who come here from Phoenix or Las Vegas and expect to find a crumbling market are in for a few surprises.  Considering the appreciation in our land and real estate values, we have so some wonderful bargains.  However, most of our sellers are financially able to wait out the dip in the market and will not be interested in lowball offers.  They are not compelled to cut prices such as we see happening on the southeast coast of Florida.  Nonetheless, sellers want to sell and will work with reasonable buyers.  They may be able to offer prices from the 2007 era, which means a substantial savings for the buyers.

If we listen to logic and not to the naysayers today, we will stay on track by making sound investments for our future. 

Jonna Beardsley of Breckenridge Associates offers a wealth of information about real estate in the Rocky Mountains.  Call Jonna at (970) 453-2200 for friendly, professional assistance.

The Mountain Pine Beetle attacks the Rocky Mountains in cycles every 20 to 30 years.  They swept through the area in the 1970s and returned in recent years.  Both forest stand conditions and weather patterns affect the outbreaks.  Primary targets are Ponderosa, Lodgepole, Scotch, and Limber pines.  Bristlecone and Pinion pine are less commonly attacked.  MPB normally do not attack seedlings, saplings, or pole-sized trees. 

During the early stages of an outbreak, the insects attack trees that are weakened through stress.  Stress can be caused by construction damage, over-crowded stands, fire damage, lightening, soil compaction, mistletoe infection, and old age.  Once they reach epidemic levels, they strike any favorite tree but prefer those that are larger in diameter.

Natives used fire to promote desired plants for food and medicine, to clear land, and to provide forage for game.  European settlers also cleared the land.  Fur trappers hunted beaver, greatly impacting the streams and forests in the region.  Enter the miners, cattlemen, loggers, and the railroad—all industries that thinned out forests. 

Modern tools have been used to reconstruct the image of what forests looked like in the past.  Photographs help collaborate information. Additionally, dendrochronology studies tree rings to calculate the rate of growth, weather patterns, insect outbreaks, and fire intervals.  Layers of ash at varying depths in the soil can also determine ancient fire regimes.  The beetle itself thinned forests, allowing for new and healthy growth. 

They have a one-year life cycle.  From July 15 through September 15, the new generation sets out to claim territory.  Using their highly developed sensors, they attack green trees, enter the bark, mate, and lay eggs that hatch the next year.  After the invasion, the tree is effectually dead, although it retains its green color throughout the winter before turning yellow, beige, and red. 

To deter them, pine stands can be thinned before the insects get to the area.  A wide range of techniques includes horse logging, tractor skidding, and helicopter logging.  Of course, fire is not a good method to use near homes.

Most property owners seek professional assistance through a tree service, which sprays individual targets every year or two.  Some people spray their own trees with Carbaryl or the recommended deterrent.  In fact, it is helpful to organize the neighborhood to treat an entire subdivision at the same time.  The Forest Service can help owners to identify infested or weak trees. 
Jonna Beardsley of Breckenridge Associates offers a wealth of information about real estate in the Rocky Mountain region.  Call Jonna at (970) 453-2200 for friendly, professional assistance.

In today’s market, we are finding creative solutions for buyers of Breckenridge CO real estate.  Ask about our one-bedroom condo at Crystal Peak for $860,000 with quarter-share interest available at $300,000.  It is a buyer opportunity with equity on the table in a premier ski in/out location with the gondola! 

For buyers who need large family or corporate retreats, look at the unique Breckenridge log home with ski-in/out access on Beavers with almost 6,000 square feet and five bedrooms fully furnished and listing for under $4M.  For $2,250,000, the round log Breckenridge CO home on Boulder Circle features 4802 square feet and 5 bedrooms—right in the heart of the Peak 8 expansion.

We are speaking about Breckenridge properties.  However, the Epic Season Pass is completely unrestricted and unlimited at Breckenridge, Keystone, Vail, Beaver Creek, Arapahoe Basin, and Heavenly.  “Unrestricted” means no blackout dates and “unlimited” means that you ski where you want when you want for just $579 during the entire season. 

Additionally, the Epic Pass comes with a long list of benefits. 
• Epic Pass Club (EPC) with exclusive member-only benefits, discounts, freebies, and more
• 6 ski-with-a-friend tickets to take friends and family to ski at a discounted rate.  Tickets are loaded onto your Epic Pass.
• One-year subscription to SKI Magazine, 7 issues per year
• Resort Charge privileges to make it super convenient to charge on-mountain dining, ski and snowboard lessons and more.  Your Epic Pass can be linked to a credit card for use on 5 of the 6 mountains.

All season passes are non-transferable and non-refundable.  The Epic Season Pass requires a current photo of the passholder, which can be uploaded online.  Once again, the $579 price is only guaranteed through April 9, 2009.  After the initial payment of $49, which is due by May 10, the balance is paid in September.

Contact Jonna Beardsley at (970) 453-2200 for friendly and professional real estate assistance in Summit and Park counties.

Mud season is a great time to plan to brighten up a corner of your vacation home in Frisco or a condominium terrace in Silverthorne CO real estate.  Plan to put in lavish baskets and flower beds of peonies, crocus, poppies, lupine, tulips, columbine, delphinium—and peek-a-boo stands of hearty wildflowers along the hillsides.

Gardening at an elevation of 9,600 feet requires a bit more patience than at sea level, however.  Our local landscapers are wonderful guides to successful high-altitude gardening.  They know what works and what plants tend to struggle in the cooler climate. 

Annuals and perennials are slow to start.  They can be started indoors using the short-season or high-altitude seeds that are available through a variety of plant suppliers and local landscaping companies.  Additionally, seed-starting mixes such as Redi-Earth Seed Starter and Ferti-Mix are available on the market. They really do help our high-altitude gardeners achieve maximum success.  After germinating, seeds must stay inside for 4-6 weeks so start in early May.  To shortcut the process, buy plugs to plant in June. 

When temperatures consistently reach the 40s, prepare the flower beds outdoors but wait to plant until the middle of June when warm weather arrives.  By covering the plants with mulch and regularly watering and weeding, most gardeners enjoy beautiful blooming gardens by late July or early August.  After the middle of August, it’s best to stop fertilizing and start planning for next year.  Most watering should end by the end of summer. 

Wildflowers prefer soil with low fertility that can be watered.  If seeded with a carrier such as fine sand, they will spread evenly.  The key is to barely cover them with dirt and to keep them moist.  If planted in the spring, they will bloom by late summer. 

New gardeners may get the hang of it more quickly by joining the Summit County Garden Club, which works on beautifying public spaces.  Mid-summer, they hold an annual tour of some of the most fabulous gardens in the area.  Everyone shares gardening ideas, including inspiration about healthy bushes and flower bulbs like daffodils that can be planted in the fall for an easy garden in 2010.  By the way, water bulbs until snow or freezing temperatures arrive.

Jonna Beardsley of Breckenridge Associates offers a wealth of information about real estate in the Rocky Mountain region.  Call Jonna at (970) 453-2200 for friendly, professional assistance.