The Question of a Recession

The Question of a Recession 

I often get asked if we are facing a recession.  And even if my clients don't use the word "Recession," they ask whether we can expect any price softening in the Summit County Real Estate Market.

While I don't have the crystal ball of what is going to happen in our market, I can tell you that in 4 of the last 5 recessions, the Denver market didn't see housing prices drop.  In fact, it was only the recession of 2007 where Denver saw a 16.3% decline in real estate pricing.  Summit County saw an 18% drop during that recession.  In all other recessions, the Denver market saw an INCREASE in housing appreciation.

We have since recovered the 2007 recession losses in Summit County and Denver and our values have exceeded the pre-recession highs.  

With ever increasing population growth in the Denver/Front Range area, the demand for mountain resort and second homes will remain high.  If you are interested in learning more about ski resort real estate in Summit County, please reach out!

Are We in a Recession? If you have buyers who believe we are going through a recession, please inform them that it is NOT TRUE. If there is a natural recession, home prices would have started to decrease. In fact, CoreLogic found that homes all across the U.S. have appreciated in three of the last five recessions. We conducted the same research on Denver Homes and prices have appreciated in four of the last five recessions. What does this mean? Recession does NOT equate to a Housing Crisis! Housing appreciation rates during recessions

Amy Nakos, JD, GRI, RSPS, CLHMS

970-389-8388

anakos@yourcastle,org

amynakos.com

3Q 2019 Summit County Real Estate Update

Check out my 3Q 2019 Real Estate Update!
Newsletter Link

If you would like the full data packet for Summit County Real Estate, please reach out to me at anakos@yourcastle.com

Showing Property with Kids - Through the Eyes of a Child

Showing Property with Kids
Through the Eyes of a Child

I have been showing people property for 15 years.  Some of my favorite experiences have been families with kids.  And some of my least favorite experiences have been families with kids.  

Now, I have kids of my own, so I have seen every form of bad behavior.  I understand temper tantrums, snack breaks, wetting pants, falling and crying, wanting to jump in the pool, climbing on and in bunk beds, and touching everything in someone else’s home . . . sometimes with dirty hands.  I once had a little boy break some figurine on a shelf as he slid his arm across the entire table.  Oops. 

But the youthful energy and the innocent questions make me love working with kids.

Kids get bored looking at properties.  It’s a long day of getting in and out of the car, listening to some real estate person talk about short term rental income, earnest money, furniture, garages, radon, blah, blah, blah.  They want to know if there is a park, pool, or ski run nearby.  They want to run.  They want to play.  They also usually want a snack.  

I’ve often wondered what a day of real estate showings is like for a kid. Recently, I got to work with a family with two little boys, ages 7 and 8.  I personally am partial to little boys.  I have two boys so I feel like I understand them.  These little men have a great mom who came prepared.  She gave them the “job” of taking photos to remember the places and to show their dad who was at work on the day we looked. I asked her whether it would be OK if I shared some of their photos.  These are the choice picks from the 8 year old.   

Now you get to see what a day of real estate showings looks like to an 8 year old boy.

We don’t know whose car this is.

But it feels kind of "spy like" as he shoots the photo through the blinds of the upstairs bedroom.

The listing broker did not think to feature the bear soap dispenser.  

Little boys like bunk beds. Period.

This is actually me. I think he thought he was getting my good side.   Haha.

This is a stuffed bear in the home they actually decided to purchase.  The kicker with this bear is that it was in the direct vision of security cameras that were on.  I noticed the cameras as the kids were crawling on the bear so we quickly stopped “riding “ the bear.  

Yes, Breckenridge is winter fun for all!

This is the inside of the refrigerator.  The buyer asked me if a place was occupied, and I said you can tell by looking in the fridge.  So, our little photographer opened the refrigerators to see if anyone lived in the units we saw.

I mentioned that I loved fast cars.  So check out this fancy Porsche!

I can’t tell you what we have here.

The mountains are a place where families create lifetime memories.  And sometimes, kids get the special treat of being able to shop with their parents for the place they will enjoy for many years to come!

If you are shopping for mountain real estate, and have little ones, feel free to bring them along!  With snacks and a camera of course.

#investinsummit
#amynakos

The New Seasons at Keystone Update!

The New Seasons at Keystone Update

August 22, 2018

It is beautiful summer at The New Seasons at Keystone in Keystone Colorado.

We are pleased to announce that we have five properties under contract!  All of the one bedroom condos are under contract and a three bedroom unit is also under contract.  Welcome to all the new future owners at The New Seasons at Keystone - we look forward to working with you through the process of delivering your new construction condo next year.

We have 11 units left with two bedrooms starting at $599,000 and three bedrooms starting at $799,000.  Here is our current pricing and availability:

Excavators are on site!  We are anticipating unit delivery starting Summer to Fall next year (2019). We will provide more frequent updates on our Facebook page so follow us there:  https://www.facebook.com/newseasonsatkeystone/

We have two different finish choices for our buyers:  Rustic and Mountain Modern.  Here are the finish boards created with the assistance of an interior designer - you will see the Rustic has warmer tones while the Mountain Modern has gray tones.  Whether you are Rustic or Mountain Modern, rest assured that your unit will be beautiful upon completion!

For a complete marketing packet, click here:  The New Seasons at Keystone Marketing Packet

If you would like to discuss this project more, please reach out to:

info@newseasonsatkeystone.com or call 970-368-2797.

Be the First to Know about NEW Keystone Condo Construction at Pre-Construction Pricing

I'm going to let you in on a secret.  At this time, only people within my network and those who follow me on social media will know about this.  If you want to be the FIRST TO KNOW about new construction condos in Keystone, Colorado then today is your day!

SIGN UP FOR THE FIRST TO KNOW LIST

We are finalizing all the details and will make an official announcement very soon.  If you want to know how you can get a new construction condo in Keystone at pre-construction pricing, then sign up for the First to Know List!  These properties are NOT in the MLS yet, and they have not been released to the brokerage community.  This is your opportunity to be first in line to receive information on this fantastic new project.  We will be offering one, two and three bedroom condos starting under $400,000.   Yes - new mountain construction under $400,000!

Announcing, The New Seasons at Keystone.

Long awaited, The New Seasons at Keystone is the first condominium project in Keystone since 2002 when the original Seasons at Keystone was built.  The New Seasons at Keystone is the second phase to the original Seasons at Keystone, completing the project by adding forty condominium units to the existing thirty-two. This second phase will offer new construction contemporary condominiums including one, two and three bedroom units.  The exterior of the new buildings will resemble and compliment the existing Seasons at Keystone buildings.  The interiors have been re-thought and re-configured for today’s discerning consumer. 

Shoot me an email at anakos@yourcastle.org with the Message: First to Know.

And keep living the dream!

Amy Nakos, JD, GRI, CLHMS, RSPS

(What do all those letters mean?  They mean I've been a real estate professional for a long time!!)

Summit County Colorado Real Estate Update Q1 2018

It's time for my quarterly newsletter and this month I'm featuring a sneak peek into a new development project in Keystone Colorado.

You will want to get on the First to Know List!

You can hear my podcast on Denver Real Estate Investing.

You can check out my fantastic listings, read about market conditions, and just plain read stuff I wrote.  What could be better?

LINK TO QUARTERLY NEWSLETTER

Until next time, keep living the dream!

Amy

Live Webinar on Summit County Real Estate Investment!

https://register.gotowebinar.com/register/1359813698196353283

On March 14, 2018 at 1:00 pm, join me for a LIVE webinar on all things Summit County (and Mountain Resort) real estate investment. Registration link is above and below!



Many people live in Denver for the mountain lifestyle but the reality of driving I-70 on a Saturday or Sunday can make day trips almost unbearable. If you have ever wondered about the realities of buying, owning, renting and selling a mountain property, then this episode is for you. Amy Nakos, a Summit County Real Estate professional for over 15 years, will discuss general considerations in mountain resort properties and then take the audience through two investment examples of actual properties in Summit County. Learn how you can own a piece of the dream, offset your expenses with rental income, and create memories with your friends your family . . . that don’t include sitting in stopped traffic! Specific topics we will cover are: - Mountain Market Trends - Considerations for purchasing a second home in a resort - Homeowner’s Associations - Short Term Rentals v Long Term Rentals - AirBNB/VRBO v. Property Management Companies - Buying and owning with friends - New Construction and Developments - Investment Property Operating Data x 2 Guest: Amy Nakos lives in Frisco, Colorado where she has been a real estate professional since 2003. She and her husband own and operate a mixed use commercial and residential property that they purchased out of foreclosure and have also developed a new construction four-plex. She is the managing broker of Your Castle Summit LLC, and is also a licensed Colorado attorney. She loves helping her clients build wealth through real estate and especially enjoys sharing her love for her community. She spends her free time with her husband Darren, her two sons Tyler and Max, and her dog, Chester and enjoys skiing, biking, hiking, fine wine, trying to golf and being outdoors.

Register: https://register.gotowebinar.com/register/1359813698196353283


This is the intro slide to the webinar! I chose some photos of the family, my dog, me skiing powder (actually just posing in powder), and of course the business shot against the blue wall!!

End of Year 2017 Real Estate Newsletter. And how you can Live Like a Local!

While most of you are in full swing for 2018, I still want to wish you a Happy New Year and give you my 2017 end of year real estate update for Summit County.

Amy's 2017 Year in Review Real Estate Newsletter!

For a quick synopsis, here is what you need to know if you are a Buyer or a Seller:

For Buyers: Our market is split.  For properties under $750K to $1m, inventory is tight and prices are climbing.  Days on market for properties over $750K are 129 whereas days on market for properties under $750K is 44.  Prices have climbed an average of 15% from last year on all properties.  If you have been waiting for the right time to purchase, get serious now about obtaining financing and start to shop. Prices will continue to climb as Denver's robust economy feeds the Summit County market.  The market is especially tight under $500K, and almost non-existent under $300K.

For Sellers: With record low inventory, putting your property on the market now, especially during the high rental season, will provide you with little competition from other listings.  If you have a property under $500K, expect a fast turnaround time provided you are within market pricing.  If you wait until spring, you will be in the crowd of new listings coming on the market.

If you would like to subscribe to my quarterly newsletter, please CLICK HERE!

3Q Summit County Real Estate Newsletter, Amy Nakos

Hi friends out there in cyber land!  If you are NOT on my newsletter mailing list, then you did not have the pleasure to read my 3Q edition.

Here it is!  AMY'S 3Q REAL ESTATE NEWSLETTER

Enjoy and please let me know if you would like to join my newsletter list

SIGN UP FOR AMY'S NEWSLETTER

RE-BROADCAST OF MOUNTAIN RESORT REAL ESTATE TRENDS PRESENTATION

I know that some of you were busy on Wednesday night and couldn't tune in to 2 hours of the most riveting real estate information of our time.  All joking aside, if you have any interest in tuning in to our re-broadcast of the December 6, Mountain Resort Real Estate Trends presentation, you can visit my facebook page and find the whole presentation there!

https://www.facebook.com/amynakosrealestate/

We also reference a trends booklet.  Here is your electronic version:

Electronic Version of 3Q 2017 Mountain Trends Booklet

We discussed various resort real estate topics including short v. long term rentals, Homeowner's Associations, new developments in our areas (most are still in planning commissions), and cash flow potential.  

Of course if you have any specific questions, just reach out to me instead of sorting through 2 hours of us talking!!

Amy

Going International - Helping You Find Real Estate Anywhere in the World

Did you know that if you need help finding real estate ANYWHERE in the world that I can help you?

Most people think that they have to go out and find their own real estate professional when looking in a new area.  Everyone knows a real estate professional or two (or more) where they live, but if they are relocating or buying a vacation home somewhere else, they may not know where to start to find a reputable real estate broker with whom to work.

What most people do is Google "best real estate agent in Orlando."  Or, they start by looking at properties online on Zillow or Realtor.com and find an agent that way.  And while this will work, if you choose a broker on Zillow, you most likely are NOT getting the listing agent or even a good agent.  What you are getting is the agent who spent the most money with Zillow to have his or her name and phone number on the top.  Often these are new agents or agents who don't have an existing book of business (i.e., not very experienced), and they are PAYING to get clients:  thousands and thousands of dollars each month, to get you to click on them and close your deal.

For agents like me, who work mostly on repeat and referral business, we understand the power of experience, longevity, maintaining high ethical standards, and sharing business with the best of the best professionals around the world.  That is why I was invited to be a member of Referral Exchange, an invite only network of top professionals, who refer business to one another, knowing that our clients will receive the best service with the best local knowledge.

So, if you or someone you know is looking for real estate ANYWHERE IN THE WORLD, let me help find the perfect real estate professional to make your real estate dreams come true.

Amy

amynakos.com

Reading the Tea Leaves of the Denver Metro Real Estate Market

Your Castle's Denver Real Estate Prediction Blog:

http://yourcastle.org/denver-residential-real-estate-forecast-2017/

If you are interested in learning more about the future of the Denver Real Estate Market, this is the blog post for you!  Charles Roberts, the President of Your Castle Real Estate, explains in detail, with charts, his prediction for the future of the Denver real estate market.

Why is this important to Summit County?

The Denver real estate market and economy in large part fuels the Summit County market.  With a healthy real estate market predicted in Denver for the next 3-5 years, Summit will follow.

If you are sitting on the sidelines wondering whether or not to buy in Summit County, now is a great time to get into the market!

www.amynakos.com

970-389-8388

Luxury Frisco Colorado Home - A Builder's Own

Have you ever wondered how a builder would build his own home?  With this exquisite home at 216 Chiming Bells Lane in Frisco, Colorado, you can find out.

Click the following link to enjoy a virtual walk through of this home.
https://my.matterport.com/show/?m=3zQ8h8BV29o&lp=1'

This home is 3,705 square feet, four bedrooms, four and half baths, with two living areas and an extra bonus office.  It sits at the end of a cul-de-sac in the exclusive neighborhood called The Reserve.  It features exposed wood beam construction, hand scraped cherry hardwood floors, a gourmet kitchen with a giant island, a walk in pantry, and tons of storage.  The Master Suite features a walk in closet and fully glazed shower that can be converted to a steam shower.  Each bedroom has it's own ensuite bathroom and there is a powder bath on the main level.  Need storage?  This home has large closets in the bedrooms and extra closet space throughout.  It also has attic storage with a ladder to stash your seasonal decorations.

But the best part is what you can't see.  Remember, a builder built this house and it is located in Frisco, Colorado which sits at 9,100 feet elevation.  The exterior of this home was built with an extra layer and then spray foam insulation was sprayed to create an "R" factor that is high and above any building requirements.  This allows the home to be very energy efficient and quiet.

The interior and exterior of the home have been repainted and this home is being sold mostly furnished.  It also comes with the hot tub which is a welcome retreat after a long day on the slopes.  What that means for you and your family is that it is ready to move into!

If you are interested in purchasing this as your second home, you can rent out this home when you aren't using it to offset some of the costs.  A local property management company, Summit Mountain Rentals, projects that this home would gross around $75,000 in rental income annually.  This home is located in Summit County near Copper Mountain, Breckenridge, Keystone and A-Basin ski resorts.  It is also conveniently located near I-70 so you can get to Vail in 30 minutes and Beaver Creek in 40 minutes.

Fly over Drone Video:  https://www.youtube.com/watch?v=tSJmc5kTOSI&feature=youtu.be

For more information, please contact me today!

Amy Nakos, JD, GRI, RSPS

www.amynakos.com

970-389-8388

Your Castle Summit