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.

The Golden Stories of Breckenridge is a growing series of video documentaries about Breckenridge history.  The videos include interviews with historical experts, residents and visitors who have been a part of the last century, as well as direct descendents of the families who lived in early Breckenridge Colorado homes. 

Sponsored by the Town of Breckenridge and produced by local videographer Wendy Wolfe, three videos are available at this time:  The Depression Years, The High Line, and Rest in Peace.

• The Depression Years features stories from three early residents including their colorful and touching memories of the railroad, the dredge boats, the early schools, and recreation in the area.  The stories are woven together with clips of film and photos that help paint a vivid picture of the experiences.
• The High Line features the local narrow-gauge railroad from 1882 to 1937.  Impressive stories of the building of the track over Boreas Pass underscore one of the most daunting accomplishments in railroad history.  Known as the High Line, those who worked it endured long and difficult days, cruel winters, and runaway trains.
• Rest in Peace elaborates on the beautiful Valley Brook Cemetery that was established in 1882.  It is the final resting place for many of the Town’s earliest pioneers whose ornate monuments tell the stories of the Victorian times.  Today the natural sanctuary thrives with wildflowers and wildlife.

The Golden Stories of Breckenridge may be viewed on local television and at the Edwin Carter Museum. The VHS-formatted videos are also available for purchase at the Breckenridge Activity Centers and at Town Hall for $20.

Jonna Beardsley of Breckenridge Associates is a long-time resident and Realtor.  Call Jonna at (970) 453-2200 for friendly professional real-estate assistance in the Rocky Mountain area.

Many rural communities easily access the slopes at Keystone, Arapahoe Basin, and Copper Mountain and come with lower price tags.  The authentic Town of Breckenridge real estate, however, continues to be a popular place to belong.  The former mining town, although less expensive than Vail, Beaver Creek, and Aspen, retains its charming traditional feel and friendly community.  As one of the highest resorts in the world, buyers are enticed to the overall experience of living around Breckenridge.

Secluded mountain real estate near the resorts may better fit the needs of second homeowners.  It is still possible to land a studio one and two bedroom condo for $200,000 –$300,000 not too far away from the ski slope scene in Keystone, Breckenridge or Copper Mountain.  The two-or three-bedroom cabin is still available for $200,000 – $300,000 range in Fairplay, South Park area, which is right over Hoosier Pass, a 20 – 30 minute drive to the Breckenridge ski slopes.  Luxury real estate beginning in the mid $300’s for the smaller ski in ski out condo’s. Remember cash flow is everything.  The closer to the slopes (more rental income in your pocket to help pay for the investment). So it’s important to average out the cost to income approach for investment purposes. The other thing to keep in mind is the QUARTER SHARE approach.  We really have some nice opportunities throughout Summit County.

According to a European source article, the same is true in France and Italy.  In Chamonix, France, more than 435 miles of snow-packed, high-altitude ski runs make the town sought after, causing property prices to soar.  Vallorcine, a little-known village about ten miles away, offers a better buy.  But, alas, the local council recently installed a lift linking the pretty village to the expansive pistes of the Mont Blanc and invited exclusive residential projects that are sure to elevate the prices.

Close to Cervinia, Italy at the foot of the Matterhorn, the quaint village and resort of Valtournenche is considered much nicer than the bigger Cervinia.  With a bit of help, buyers can find small-scale new and renovation projects at lower prices.  About 20 minutes from Cervinia, the lovely town of Aosta features cable-car access to a small ski area at Pila which offers 40 miles of ski trails.  Nice condos can be found at good price points in the comfortable town with nice shops and European culture.

Jonna Beardsley of Breckenridge Associates is a long-time resident in Breck.  She offers a wealth of information and affordable local options.  Call Jonna at (970) 453-2200 for friendly, professional real-estate assistance in the Rocky Mountain area.

If you own Breckenridge CO real estate with a market value of $500,000, in 2007 you paid $241.59 in property taxes.

That money feeds into a variety of funds including the following:

• $39.80 Repay financing for recreation facilities
• $36.93 Public safety
• $20.46 Street maintenance including snow removal
• $25.91 Recreation
• $19.17 Transit operations
• $99.32 General governmental operations

Sales tax collected during shopping sprees is similarly distributed.  For every $100 of merchandise that you purchase, $8.28 is paid to sales taxes.  And that money goes to the following:

• $3.72 State and County
• $0.50 Open space
• $0.12 Attainable housing
• $0.07 Marketing
• $0.71 Public safety
• $0.50 Recreation
• $0.39 Street maintenance
• $0.37 Transit operations
• $1.90 General governmental operations

High in the Rocky Mountains of Colorado, the Town is a remnant of the 1800s Gold Rush.  The Town’s historic Victorian-style real estate and modern luxury homes reach out from the pedestrian-friendly Main Street.  Vail Resorts opened a world-class ski resort here, creating just the right mix of charm and excitement.  There is a population of 3,300 full-time residents and it swells to 35,000 during the winter season.  Festivals, concerts, competitions, symphonies, boutiques and fine dining, art shows and theater contrast to the outdoor adventures of mountain bikers, hikers, hunters, mountaineers, kayakers, skiers, and fly fishers. 

Contact Jonna Beardsley at (970) 453-2200 or (800) 774-7970 for friendly and professional real-estate assistance in the area.

The wacky celebration pays tribute to Ullr, the Norse God of Snow, and it is simply lots of fun!  Ullr Festivities run the gamut from the legendary Main Street Parade, to live entertainment and bar series, to a Nordic event, to Ullympics, to an ice-skating party.

January 4 is when that Ullr Skating Party at the Stephen C. West Arena is hosted by the Breckenridge Resort Chamber Ambassadors to benefit local student scholarships. Cost is $5 including skates.

January 5 from 5:30 – 9:00, the Ullr Nordic Party and Bon Fire and the crowning of the Ullr King and Queen will be held at the Gold Run Nordic enter on the Breckenridge Golf Course.  After the crowning, a friendly Nordic ski and snowshoe outing to the bonfire site ensues.  This event is free and gear can be rented for half price.

January 6 at 8:00 p.m. will be a Dating Game at Cecelia’s for adults over 21.

January 7 is the sporting madness of the Ullympics at Carter Park.  About fifteen teams of four compete in the Four-Man Ski Race where each team navigates an intricate path of skis made out of 2×6 pieces of wood.  The Turkey Toss team members must bowl with a frozen turkey.  Co-ed teams compete for prizes in three zany events and meet afterwards at a restaurant to receive their awards. Prizes include free airline tickets to anywhere Vanguard flies.

January 8 at 4:30 is the famous Ullr Parade.  Parade highlights include the traditional Ullr gold underwear streakers, the Ullr King and Queen, and neighborhoods of creative Ullr characters.  Judges are certain to award the freakiest float and the goofiest costumes.

Wrap it all up with the Breckenridge Mountain Rotary Club Chilly Chili Cookoff where you’ll sample local and world-famous chili chefs, live entertainment, and fun activities for the whole family.  It’s held at the Riverwalk Center from 3:00 – 8:00 p.m.  Then, celebrate at Comedy night with Comedy works of Denver.  Light appetizers, good company, and a cash bar along with specials at many local bars. 

Begun in 1963 to repay Ullr for his gift of snow, a few locals heard that Ullr was in town and wanted to send their appreciation.  The lobbied the Town council and began Ullr Dag (Ullr Day) honoring Ullr with gold coins, parties, skiing, and parties.  Over time traditions such as the Ullr Ball, Ullr bonfire, Ullr Parade, Snow Sculpting, Ullr King and Queen, Ullympics, and dating game.  The Snow-sculpting event became the International Snow Sculpture Championships that is held ten days later. 

Contact Jonna Beardsley of Breckenridge Associates at (970) 453-2200 for friendly and professional real-estate assistance in the area.

According to a November 2008 report by PortReal LLC, real estate outperformed the stock market over the last ten years.  Including the ups and downs since 1998, average returns in the stock market fall far below even the 5-percent bond market.  Today the average return for stocks is about even with dollar value invested ten years ago.  Average return includes all public companies from very successful companies to those that have fallen apart and those that never really got off the ground.

Real estate, on the other hand, is running at about 180-percent of the investment money put in ten years ago.  And our area of interest is resort real estate.  United States resort real estate today is worth approximately 220 percent of dollars invested 10 years ago.  That is impressive, especially when we look at the volatility of the stock market at the end of 2008.  It is also notable that the stock market data includes the benefit of reinvested dividends while the real estate figures do not include rental income.

Among the reasons for the variation is the U.S. government policy that supports home ownership.  Benefits are woven into our laws.  According to the PortReal report, “This protection shows up in tax benefits to homeowners and in monetary policy that reduces volatility in prices and financing costs.  Real estate has a significant edge over equities from the standpoint of risk-adjusted returns (e.g., Sharpe Ratio.) 

As baby boomers are seeking out ways to grow their nest eggs and to enjoy them too, resort real estate offers a win/win investment.  With low interest rates and increased limits for government-backed loans, investing in our resort properties for investments, short-term vacation properties, and eventual retirement homes is smarter now than ever. 

Contact Jonna Beardsley at (970) 453-2200 or (800) 774-7970 for friendly and professional real-estate assistance in the area.

Breaking down that increase according to type of real estate, vacant land is seeing the biggest jump in value.  Breckenridge single-family home prices went from an average of $1,079,167 to $1,028,436; duplexes and townhomes climbed from the mid $600,000s to $905,625; and condos and multi-family units evaluated from $395,027 to $509,896.  In the first few months of 2008, average prices of land went from $380,173 to $599,814.  That is a whopping 57.8-percent increase!  Homes increased 4.9 percent, duplexes and townhomes 47.4 percent, and condos and multi-family 29.1 percent.

Looking at the figures since 2005, the trends are similar.  Land sold for an average of $299,000 in 2006, $325,000 in 2006, and $407,000 in 2007.  The average sale price for a single-family home in 2005 was $754,000, in 2006 $871,000, and in 2007 $1,056,000.  Duplexes and townhomes were $550,000 and $496,000, then $632,000 and $651,000, and condos went for $315,000, $383,000, and $410,000.

In the greater Summit County area, the numbers are slightly lower.  Land went up 52.7 percent, homes 4.2 percent, duplexes and townhomes 19 percent, and condos and multi-family dwellings 14.4 percent so far in 2008.  There are only slightly more properties on the market than at this time last year (1,590 versus 1,427).

The truth of the matter is that our resort buyers are primarily investing in second homes and vacation homes.  So, even though the national market is down, this segment of the population does not qualify for the problematic adjustable-arm mortgages.  In addition, most people who buy in our area are financially flush, which adds a stabilizing element to our economy.

This information is taken from the numbers published by the Summit Association of Realtors from MLS transactions that transpired before May 1, 2008 and account for all but 5 percent of the countywide sales.

For more information about land, homes, duplexes, condos, townhomes, fractional, and other real estate possibilities, contact Jonna Beardsley of Breckenridge Associates at (970) 390-2533 or call toll-free to (800) 774-7970.

Realtors are trained.  They spend years learning all of the little nuances about buying and selling homes in Breckenridge, Keystone, Dillon as well as other Rocky Mountain resort real estate in Summit County.  The key is to hire someone more knowledgeable than you are and that means choosing the right person to go to bat for you.  They will probably save you in the long run.

Realtors are submerged in their business.  They know the homes, neighborhoods, prices on the market, problems with properties or finances.  The wealth of information comes in very handy when pricing your home.  And they will guide clients to make the best choices by highlighting all of the data and variables, market supply, demand, and conditions.  The best realtors are great negotiators.  Utilizing an impersonal approach based upon years of doing business, they can remove themselves from the emotional aspects of the transaction.  Their professional demeanor keeps the client’s interests at the forefront and ensures confidential business interactions.

Since many factors can determine how a client should proceed, real estate agents will research information to keep you abreast.  They’ll find out about market conditions, average cost per square foot for similar properties, median sales prices, average sales prices, the days on the market, ratios of list-to-sold prices, and other information.

Another important value that realtors bring to the table is their professional association with other realtors, service providers, and vendors.  They can also refer you and provide background information, for example, to a property management company.

A trained realtor stands between the buyers and the sellers, moving the interactions and transactions up a professional notch.  He or she will take the calls, filter information, and only bring you what you are looking for.  Making those long purchase agreements seem like kid’s books, they also keep tabs on the state and federally mandated disclosures.  Long after the closing, your agent can answer questions about property tax assessments, transfer taxes, and a number of other little (and big) details that come up.  With a vested interested in making you a happy client for your sake and for the sake of future referrals and repeat business, your realtor will provide the support that you need when making big decisions.

Highlands at Breckenridge real estate includes the subdivisions at Lincoln Highlands, Discovery Hill, Braddock Hill, and Highland Park. All the while, just imagine panoramic views of the Ten Mile Range, the Gore Range, and the Continental Divide from whatever Breckenridge CO real estate that you choose.

Staffed by a friendly and professional Nordic staff, the stupendous lodge features a relaxing lobby with a massive stone fireplace. The comfy over-stuffed leather seating by the fireside is great for warming up after an invigorating trek. Comfortable camaraderie over hot chocolate or coffee and large picture-window views of the Continental Divide enrich and enliven any vacation. The lodge is where you’ll pick up tips about applying wax or some handy details about the trails.

Matter of fact, this is a wonderful place to experience a romantic horse-drawn scenic sleigh ride and splurge on an elegant dinner accompanied by musical entertainment from the beautiful mountain lodge.

The full-service Nordic retail shop along with a Rossignol Demo Center featuring the finest quality Rossignol Nordic Ski equipment to rent or purchase can delight even the most hard-nosed downhill skier or rider. If you’d like to improve your stride, choose your equipment and sign up for the PSIA-member Nordic Ski School that offers private and group lessons for all ages and abilities.

Groomed for classic skiing and skate skiing, the 20 kilometers of meticulously groomed trails are ready every day in addition to 12 kilometers of well-marked snowshoe single-track trails. As skill is developed, in addition to the Golden Horseshoe, you can take on other areas of the resort from the highest chairlift in North America where you’ll look out from 12,840 feet in elevation.

And remember to come back in the summertime to swing your 7 iron in the thin mountain air. The Town is the only municipality in the world to own an award-winning Jack Nichlaus-designed golf course. The Bear nine, The Beaver nine, and The Elk nine will have changed their garments from sparkling white to lush green and will treat you just like gold.

Contact Jonna Beardsley at (970) 453-2200 or (800) 774-7970 to learn about available properties in the resort areas.