Ceramics, paintings, jewelry, stained glass, and other items can be found at thirty-four different booths. The artists were selected by a jury, and some of the well-known artists whose work will be on display include Sumi von Dassow, Pam Herring, Mark Johnson, Adele Earnshaw, Tim Brown, and more.

Dassow and Herring are known for their ceramic arts. Dassow’s unique creations include Chinese pottery inscribed with “congratulations,” “double happiness,” and “tranquility”, along with horsehair pottery that has a pattern burned into its surface by draping horsehair over the pot when it is removed from the kiln.  Johnson, who lives in Breckenridge, mainly uses oil and acrylics and has lately started using soft pastels to paint plain air landscapes.

After working with watercolors for many years, Earnshaw began to only work with oil paint. Landscapes and wildlife are included in her subject matter. Her paintings have been shown in galleries all over the world and she has published several painting books.  Meet the Artists judge and photographer, Todd Powell comments that Brown, a photographer from Salida, creates “incredible digital art.”

Since artists have time to talk with visitors about their work, the show is quite popular.  It is a wonderful event because it is rather small and intimate, Powell remarked.  Tom Kramer, president of the Summit County Arts Council which organizes Meet the Artists, said “It’s a fantastic picnic in the park”.

For your Colorado Real Estate and Art requirements, get in touch with Jonna Beardsley at Breckenridge Associates. Jonna has been working with the community for thirty years and is an experienced real estate broker who would like to help you. Call me on my cellphone (970)-390-2533, or email me at Jonna@breckenridgeassociates.com.

Most people are aware of the profits that can be made by purchasing Breckenridge real estate foreclosures, which are usually owned by the mortgage lender. When a homeowner is unable to repay the mortgage, the lender will repossess the property and evict them, and then seek to sell the home quickly before incurring further financial losses. Due to the fact that the lender is trying not to lose money and is not pushing to make anything extra, foreclosure properties can yield quick profits.

Does this process have risk? Risk is involved in all investment opportunities. However, since there is nearly always a demand for homes, purchasing bank foreclosure properties can be quite profitable.  You have to be able to recognize the types of properties that will resell well, in order to successfully invest in bank foreclosures. It is also true that you generate profits by buying.

To be able to make bank foreclosures profitable, you have to know the real estate market in the area where you’re planning to buy. You need to know what is a good deal and what is not, and you must be able to estimate the approximate value of a property.

There is a huge amount of competition in the field, and also a lot of potential for those interested in investing in REO foreclosure properties. You must have competent counsel to guide you through the process, as there are some risks you need to be aware of.

For about thirty years, Jonna Beardsley has been a Realtor for Summit County and since 1978 has worked in the industry of short sales and foreclosures. If you want to get a list of short sale opportunities, upcoming foreclosures, or if you have questions about the foreclosure process or foreclosed properties, just contact Jonna. You can contact her at jonna@breckenridgeassociates.com or call her at (970) 390-2533.

Getting Pre-Approved Is An Important Step…

A big step in buying Breckenridge CO real estate is getting pre-approved. We believe that an essential issue when beginning the process of acquiring a home is to have a meeting with a lender and obtain a pre-approval. Prior to starting the process of purchasing, ask your lender what the largest amount is that you can qualify for in order to buy your property. You don’t always have to spend so much money; sometimes you can choose to spend a little less. It’s easy to fall in love with the features of homes that are not within your budget.

It is essential that you get in contact with a qualified lender. For those lenders with whom we have had good experiences in the past and that have earned our trust, we will recommend them to you.

Additionally we make a serious recommendation for the use of a lender that is local, especially if the investment is in a town home or a condo. Lenders must ensure that both the property and the buyer qualify. It’s hard for out of town lenders to get qualified for mountain properties. Local lenders have multiple years of experience and can do these tasks quickly and efficiently.

We are not expressing this to benefit them, but to allow you to save time, energy and, above all, stress. In order to determine the price most suitable for you and your comfort level, the lender will review your financial position.

Best Advice

Go one step further with the pre-qualification and complete a loan approval. This approach is the best option!

• You will know in advance what your payments will be – one of the ways the pre-approval process will help you.

• You will use your time efficiently by looking only at homes within your budget.

• You are able to choose the loan package that benefits you the most without being pushed. In the market today, there are many programs and options to pick from. Your lender will tell you your options and assist you in choosing the best one.

• Sellers prefer offers that they know qualify for secure financing. If you are competing with others, then this will give your offer an edge. A pre-approval letter along with all agreements to purchase are requested by many listing agents, today.

• You will get a closing cost estimate with a detailed explanation.

• You will enjoy peace of mind.

Vital Information for your Consulting Appointment

We will work to pin-point the area you wish to live in as well as identify any “must have” features you want in your home.

The Search Begins The Next Step…

The next step is the beginning of the search. When you decide what type of property you want, then it’s time to begin looking. To assist you in the location of your dream home, make an appointment.

You Should be Cautious When Extending an Offer…

When you discover an unbeatable property, you should make a competitive offer right away. Your buyer representative has an ample background in contract negotiations; he or she will see that you obtain the property you desire for a reasonable price

The Accepted Offer

You will have what we refer to as a pending offer when the seller accepts your offer. We will ensure that all dates and deadlines are attended to, and that every detail is handled correctly and quickly.

You Are Almost Finished Once You Reach the Inspection
Stage…

Specific details are addressed and inspections are completed to make sure that the property is ideal for you. The specifics of the contract are negotiated some more and we advance into closing!

Finishing the Closing and Signing the Closing Paperwork…

You need to be ready to wire money funds or have a cashier’s check ready, as well as sign and have the required paperwork notarized. Make sure to have your driver’s license on hand, as the title company requires a copy. You will be in your new home after the next few steps you take.

You will also need to make sure that all of your necessary utilities are turned on.

For the last 30 years Jonna Beardsley has been a certified resort specialist. Jonna’s experience and dedication will help you buy, sell, or build an investment property in the Rocky Mountains. She wants her clients to feel secure and protected, so she brings a lot to the table, such as Knowledge, Trust and Experience. Email Jonna at jonna@breckenridgeassociates.com or call her at 970-390-2533.

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.

Although the new no-nonsense loans for Breckenridge, Keystone, and Silverthorne CO homes require tighter controls, they seem to be better for all parties—especially the borrowers’ situations.  Borrowers must produce documentation for income, assets, and debt load.  Applicants must qualify and underwriters are determining if the applicants are actually able to make their monthly payments, and then some.

Some buyers pay cash for Summit County CO real estate (primary residences, vacation homes in Breckenridge and Keystone, and second homes in Colorado’s playground).  Others shop around.  It is worth investigating products available through FHA-insured mortgages, credit unions, rural home loans, and local and state agencies.

With new loan limits as high as $625,500, FHA loans will account for ¼ of the mortgages in 2009.  Between 2003 and 2006, only 4% of loans involved the FHA.  The new model for FHA loans is more lenient with credit scores, requires as little as 3% down, may finance the closing costs, limits closing costs to 1% of the mortgage, has no prepayment penalties, and has relaxed the debt-to-income ratios.

However, the Federal Housing Administration (FHA) must approve lenders and appraisals.  Buyers with less than 20% down payments must pay Mortgage Insurance fees and monthly Mortgage Insurance premiums that together may increase the loan by 2.25%.  If buyers have financial reserves, savings, or investments worth two months of mortgage payments, they will get better rates.  Buyers with a 30 to 33% debt-to-income ratio also best rates.

More buyers are turning to credit unions these days.  Most credit unions never got involved in the subprime loan industry.  Nor did they sell and repackage their loans as investments.  Unions normally offer fixed rate, 30-year mortgages, many times at rates lower than the banks.  If a buyer banks with a credit union, they generally receive preferential treatment.

Other buyers may find a good deal for “rural” home loans.  These loans are for people in designated rural areas where the population is less than 20,000.  Backed by the USDA Rural Development Housing and Community Facilities Program, they do not require borrowers to grow crops or raise livestock.  These loans are limited to buyers with incomes less than 115% of the household median income for the area.  The USDA programs include loans with no money down, construction loans, and more.

For low- to moderate-income families, it is also worth checking into options offered by the city, the county, and the state.  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.

The “Stimulus Package,” signed into law on February 17, 2009, enhances that tax shelter in several ways.  Several noteworthy provisions pertain to Breckenridge CO real estate and Summit County homes, including the Homebuyer Tax Credit, FHA, Fannie Mae and Freddie Mac Loan Limits, Neighborhood Stabilization, Low Income Housing Grants, Tax-Exempt Housing Bonds, Energy Efficient Housing Tax Credits and Grants, Transportation Investments, and Broadband Deployment.

First-time homebuyers, as well as buyers who have not owned real estate in the last three years, may take advantage of up to $8,000 of tax credits for purchasing a principal residence between January 1, 2009 and November 30, 2009.  The credit reduces the purchaser’s income tax liability.

The combined FHA, Fannie Mae, and Freddie Mac loan limits cap at $729,750, which is more reasonable for our area.  The amount equals 125 percent of the 2008 local area median home price; it may be higher in a few regions of the nation.  These 2009 limits expire on December 31, 2009. 
Our resort area mostly likely will not benefit from the Neighborhood Stabilization monies.  This $2 billion fund is set aside to assist entire neighborhoods that have seen rampant foreclosures.  However, a quarter of the funds go to households with incomes at or below 50 percent of area median income and many in the hospitality workforce are in that category.  The legislation also allows states to trade in a portion of their 2009 low-income housing tax credits for Treasury grants to finance low-income housing.

The Energy Efficient Tax Credits and Grants are welcome news for our mountain luxury homeowners.  Through 2010, homeowners may claim a 30 percent tax credit for purchases of new furnaces, windows, and insulation.  Although our specific resorts now have excellent broadband capabilities, the Broadband Deployment clause may help more of our neighboring mountain regions to connect with better communication services and wireless.  Imagine taking that waterproof laptop on a whitewater excursion! 

Many of the improvements and tax incentives offered in the Stimulus Bill, including Transportation Investments, will help bolster the value of real estate and benefit our mountain communities.

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.