Tuesday, March 28, 2017

Summit County Real Estate Buyers - Tips and Tricks in a Competitive Market

Welcome to Boot Camp.  Summit County Colorado Real Estate Buyer Bootcamp!

I'm not going to make you get down and give me 20 pushups, but I will be telling you the hard truth about getting your offer accepted in our competitive real estate market.

Here are the important steps:
1) Get on an auto-serve email from me directly from my MLS.  Using Zillow, Redfin, Realtor.com, etc. will delay the new listings by hours or days.  With this search, get to know the market and how quickly things go under contract.
2) Have your financing completed!
3) When you are ready to buy, make a fast aggressive offer.

And at the end of this video, you can just respond, "Yes Maam!"

I look forward to helping Summit County Real Estate Buyers with their house hunting and acquisition.


Monday, March 27, 2017

40 Unit Development Opportunity in Keystone Colorado

Summit County has few parcels that are available for residential multi-family development.  Especially parcels that are zoned for 40 units.

Attention Developers, if you are looking for your next project, take a close look at this amazing one of a kind opportunity.  This is Phase 2 of The Seasons at Keystone located in Keystone Colorado near the Keystone Lodge and Spa.  This development has 4 existing building and the rights to build 40 more units of density.  Plans exist for 5 buildings with approximately 47,000 square feet of living space.  A developer can update the existing plans from 2005 (to conform with the Summit County energy code of 2012), or he or she could design their own units within zoning requirements. 

More information available in the marketing packet.

Click here for amazing drone video of the site:

If you would like more information, we can provide a financial pro-forma and the 2005 architectural plans with a signed non-disclosure agreement.

Contact me for more information!

Friday, March 24, 2017

Should You Buy a Summit County Ski Investment Property With Friends?

In recent years, I have represented a number of buyer clients who are groups of friends or couples who are friends.  They have pooled their resources together to buy a vacation ski condo in Summit County.  Here are my tips if you are thinking about doing the same!

For Denver Front Rangers who love to ski or ride in the mountains, you are fully aware of the I-70 traffic woes that lie between your home and a great day on the hill. The reality of day tripping to the mountains on weekends is hindered by the fact that you will be with tens of thousands of others on I-70 both on your way to the mountains and home.  And that makes the commute almost unbearable to the point of not even leaving your house.  And affording a place to stay in the mountains can be expensive.  So, what are mountain lovers to do?

Many people ask me whether it’s a good idea to purchase a mountain property with friends.  This seems like a great solution to have access to a mountain property for the weekends, avoid I-70 traffic, and to generate some income with short term rentals while it’s not being used by the owners.  Here are some pros and cons associated with this plan:

  • Buying with others increases your purchasing power and reduces your monthly costs.
  • You can afford a property you might not otherwise be able to afford.
  • You have a weekend place to stay when skiing/riding in the mountains.
  • You can offset some of the costs with short term rentals.

  • You will need to coordinate with your co-owners for use, scheduling, cleaning, etc.
  • Your friends will now be your roommates – that could be good or bad.
  • People’s plans change in the future and ideal timing for the sale of the property will never be the same for all the owners.

My best advice for people considering buying a property with friends is to over communicate expectations before purchasing the property.  Once the property is under contract, a legal agreement should be created that addresses sales and buy outs at a minimum.  Other items that owners will need to address is ownership structure (LLC, partnership, etc), short term rental management, cleaning, pets, bedroom assignments (if applicable) and guests, to name a few. 

If you are interested in learning more about purchasing vacation property with others, please feel free to reach out to me!

Amy Nakos, JD, GRI, RSPS

Thursday, March 23, 2017

Is a Summit County Ski Property a Good Short Term Rental Investment?

I get asked all the time whether owning a property in Summit County is a "good investment?"  In this detailed video, I will walk you through a spreadsheet with actual costs and benefits of owning 4 different mountain properties in Summit County, Colorado.  These numbers are from MLS information and reported actual rental numbers.  

Spoiler alert - taking into consideration appreciation and tax benefits, you can make 7-13% annually on your inital cash investment.  (And you can ski and avoid I-70 traffic on Sunday afternoons!)

As part of my ongoing client services, I often prepare these spreadsheets for buyers.  While inventory is moving fast, I'm happy to share my existing spreadsheets with potential buyers.  Just ask!

Wednesday, March 22, 2017

Third Quarter 2016 Summit County Real Estate Statistics

For the Third Quarter of 2016, Summit County real estate values continue to increase and inventory is low.
Here is a review of 3Q 2016 Summit County Real Estate statistics with my own personal commentary.  I hope you enjoy!

As always, if I can answer any questions or provide information on the Summit County Real Estate Market, please reach out to me.  I service the areas of Breckenridge, Copper Mountain, Dillon, Frisco, Keystone, and Silverthorne.