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.

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.

Celebrating in style, on April 4, 2009 the Town of Breckenridge kicks off her 150th birthday party.  Everyone is invited.  From dancing in downtown Breckenridge real estate to gold nugget hunts for children, the proud roar of this quaint resort town will echo throughout the Rocky Mountains during today’s festivities and throughout the year to come. 

Revolving around the Old Courthouse, now 100 years old, the Old Fashioned Street Party includes the removal of a time capsule from the courthouse cornerstone, a bucket brigade, live bluegrass music, and a grand fireworks display this evening.  The Six Million Dollar Band, an Anniversary Toast with local legends, and the Quantum Ski Club’s Retro Ski Bash are all on schedule.

A rich heritage began in 1859 when a group of prospectors decided to incorporate to bring some order to a rabble-rousing camp for miners and the accompanying settlement.  Some found gold and others discovered the pristine beauty of the Ten Mile Range and the Continental Divide.

This is the year for families, history buffs, and anyone looking for excitement to explore again the old trails and stories of the area.  Replete with brothels and saloons, gold booms and busts, adventure and hope, the history of Breckenridge will come to life during Kingdom Days June 20 and 21.  Events and activities include tours of the historic mines, museum exhibits, gunfights, live music, old time arts and crafts, storytelling, historic hikes, activities for children, and the Annual Outhouse Races.

On August 15 and 16, the Mining and Railroad Weekend adds a critical piece to the puzzle.  It highlights the railroad relics and the historic railroad route.

One special venue this year is the Edwin Carter Museum with exhibit themes tracing the evolution of Carter’s life as a miner, taxidermist, and scientist as well as a new theater room and interactive learning center for children.  Naturalist Carter paved the way for today’s environmental awareness.  There will also be the unveiling of new additions to the Arts District, a cutting-edge campus with ceramics studio, performance arts venue, artist-in-residence studios, workshop space.  French Gulch and Iowa Hill boast new signage explaining the Town’s history along the trails.

They say that the characters may have changed but the outcast, the visionary, and a slew of other characters remain in our beautiful mountain community.  Come appreciate the white gold still falling from the sky and appreciate what it took to bring us to this point.

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.

Factors such as our dramatic mountain weather, high rental rates, and radon build up do affect Summit County properties.  New homes likewise need inspections as well as more susceptible older and historic properties in Breckenridge, Frisco, and Dillon.

Unbiased non-invasive visual inspections are performed by trained professionals.  There are Buyers Inspections, Sellers Inspections, New Construction Inspections, Health Hazard Inspections, and tests for specific problems such as radon.

In the Rocky Mountains, we have become more aware of the radioactive gas that emanates from natural substances in our surroundings:  rocks, soil, and water.  Outdoors, the gases are assimilated into the atmosphere every day.  Indoors, gases can be trapped.  They can seep in through cracks in the foundation and through other openings.  If not checked by internal ventilation systems, radon can cause lung cancer.  As this new danger has surfaced, the green-building programs offered through the National Association of Home Builders are promoting mitigating features during construction.

An independent Buyers Inspection identifies the strengths and weaknesses of a potential home.  It may reveal problem areas that need attention including those that need immediate attention.  During the process, the inspectors operate all of the home’s systems including electrical, heating, and plumbing and the appliances.  They also inspect the foundations, attics, crawlspaces, roofs, kitchens, and bathrooms. 

To avoid last-minute surprises and deal killers, Sellers Inspections are performed before homes are listed.  Likewise, builders are smart to have their new projects inspected before sale to reveal any problems that were overlooked during the building process.

Reputable professional home inspectors make it their business to reveal any unknown problems and environmental hazards.  The information can be invaluable for both buyers and sellers.  For added peace of mind, long-term homeowners can also stand to have their properties inspected every ten years.

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.

Make no mistake, however.  Some people want high-quality green vacation homes in Breckenridge and Summit County and can afford state-of-the-art techniques and equipment.  These buyers will pay the higher price for LEED-certified homes.  They will pay for the sturdy construction; better air-conditioning, heating, and insulation; high-tech ventilation, radiation-filtering windows, solar panels, and passive-solar architectural elements.

The truth is that homes with low-energy features cost more up front.  If a builder adds $40,000 worth of solar panels, high-quality insulation and air ducts, and energy-efficient appliances, the features could add $50,000 to the price of the home.  The homeowner can re-coup that money over the course of the mortgage through lower energy bills.  Some people can afford the initial increase; others cannot.

When energy prices were soaring last year homebuilders nationwide went through a phase of adding eco-friendly enhancements, according to the 02-14-09 Associated Press article in Summit Homes & Properties.  These builders were getting onto the green bandwagon.  But with falling oil prices and cash shortages, the pricey low-energy developments are stalling a bit.  People have to cut their budgets somewhere.

As several economic factors changed during 2008, so too did the demand for these impressive green homes.  Some developers saw an initial burst in sales for green homes followed by a weakening in the green market.  The AP article explained that developers such as Scottsdale-based Meritage Homes are reviewing future projects and plans for sustainable communities in areas such as Texas, Arizona, California, Nevada, Colorado, and Florida. 

As builders move cautiously forward into the green arena, they will be exploring ways to remain environmentally friendly while cutting costs.  Examples include Energy-Star appliances.  If they are building green communities, developers may choose to offer pre-sales to be sure that enough buyers are on board.

Jonna Beardsley of Breckenridge Associates offers a wealth of information about real estate in the Rocky Mountain region.  The brokers at Breckenridge Associates Real Estate own the business and work together with an uncommon dedication to their clients, the industry, and the community, resulting in decades of top performance in the resort areas.  Call Jonna at (970) 453-2200 or (800) 774-7970 for friendly, professional assistance.