Breckenridge Real Estate - Summit County, Colorado Real Estate

Breckenridge Real Estate - Studio Condo For Sale

keith — Thu, 15 Jul 2010 15:18:31 +0000

Main Street Station Condos in Downtown Breckenridge, Colorado. With an unbeatable location by the Quicksilver Lift, and on Main Street, you can walk to just about anywhere in Breckenridge from your luxury studio condo. Main Street Station is one of the top rental complexes in town and traditionally one of the fastest sellers. Amenities include: front desk, pool, fitness center, lakeside, creekside, great views, ski valet, shuttle services, and occasional courtyard festivities. Main Street Station is simply one of the finest establishments in Breckenridge, Colorado.

First Time Home Buyer Tax Credit Extended

keith — Sat, 03 Jul 2010 06:17:32 +0000

Homebuyers that were under contract to purchase a home by April 30 now get three additional months to close in order to qualify for the homebuyer tax credit; thanks to the U.S. Congress’ amendment and approval of the tax credit bill.

Extending the deadline to September 30 ensures homebuyers can take advantage of the tax credit by allowing lenders to catch up on the huge volume of loan applications waiting to be processed.
The extension only pertains to qualified homebuyers with existing contracts. Buyers who were not under contract on or before April 30, 2010 are not eligible to receive the tax credit.

Summit County & Breckenridge Real Estate Market Conditions - May 18, 2010

keith — Tue, 18 May 2010 16:12:30 +0000

The busy real estate sales season is beginning in Breckenridge & Summit County and buyer’s market conditions still persist. Inventory has taken a significant upturn in the last two months. In mid-April there were 1615 listings in Summit County. Today there are 1641 real estate residential listings for sale in Summit County. Inventory in Breckenridge’s real estate market has risen to 747. This is roughly 100 more than Breckenridge’s inventory this time of year in 2009.

Throughout the winter the real estate inventory in Summit County was on a gradual and promising decline. This recent surge is a typical trend as the majority of new listings and real estate sales take place in the summer months.

Real estate values are holding better in Breckenridge & Summit County verses other areas of the country, but there is still a gradual overall decline in real estate prices. The end results of the summer sales season will be a major indicator in the direction or recovery of the real estate market in Breckenridge & Summit County, Colorado. More news to follow soon at www.KeithKirchner.com

Breckenridge Real Estate News

keith — Thu, 06 May 2010 03:26:59 +0000

Keith Kirchner is experimenting with new blogging software. For more info on Summit County and Breckenridge real estate, scroll through older posts. Find real estate market news, listings, and archives.

More Summit County 2009 Real Estate Statistics

keith — Mon, 15 Feb 2010 22:35:14 +0000

22 Year History of Summit County Dollar Volume Sold

The graph here on the right shows the 22 year history of dollar volume spent in the real estate markets of Summit County, Colorado. There is a clear upward trend for the most part. The effects of the Sept. 11 tragedy in 2002 and today’s economic conditions are clearly marked on the graph. These two events have clearly had the largest declining effects on the real estate market here in Breckenridge & Summit County.

This second graph shows an unexpected result of residential real estate pricing in the Breckenridge and Summit County real estate markets.

22 Yr History of Summit County Residential Real Estate Prices

Despite our two distinct buyer’s markets of 2002-2003 and 2009-2010, more easily recognized in the graph above, the trend residential real estate pricing has remained on the rise for a long time. Prices during the buyer’s markets, so far, have retained a 0.0%-1.0% growth average. Of course, that is the average for the whole county. Specific subdivisions and condo buildings have clearly seen different pricing effects. How much a property retains or looses value in this new buyer’s market has largely been effected by location. In town real estate and ski-in ski-out real estate seems to be holding value better than out of town real estate.

Today’s Summit County Inventory Count - 1494 listings. Up 2.2% since Jan. 24, 2010.

Summit County Real Estate out performs Vail, but not Aspen

keith — Wed, 10 Feb 2010 01:04:39 +0000

Summit weathers real estate slump with some big transactions
Local real estate performed better than Eagle, Garfield counties

By Robert Allen
Summit Daily News

SUMMIT COUNTY — The local real estate market in 2009 took a hit similar to nearby counties, but a few large transactions helped to soften the blow.

The $107 million sale of Copper Mountain and the record-breaking $8.3 million home that sold in Breckenridge were among highlights in a year when transactions overall were down 32 percent.

Click Here To Read Full Summit Daily News Article

Serenity in Breckenirgde - Quiet Home with Lake Views

keith — Sat, 06 Feb 2010 19:01:41 +0000

Gorgeous post and beam home for sale just outside of Breckenridge, Colorado. Picturesque views of Mt. Baldy across Goose pasture Tarn. Set in the forest, this home offers a sense of tranquility and beauty only found in the forests around Breckenridge. 3 fireplaces, 2 kitchens, wood construction and accenting throughout the home. Private fishing rights and space for your toys. This is a true diamond in the rough in Breckenridge.

Vail Valley real-estate sales failed to reach $1 billion in 2009

keith — Sat, 06 Feb 2010 18:46:56 +0000

Real-estate sales in Eagle County failed to top $1 billion for 2009 for the first time since 1996…

…With 12 months of data now available, real-estate sales in 2009 were 42 percent down from 2008. The sales volume was even farther off the 2008 numbers, down 60 percent. Total sales volume for 2009 was just less than $900 million, compared to $2.2 billion in sales in 2008.

Read full article here

Sunny Breckenridge Condo for Sale with Views

keith — Thu, 04 Feb 2010 22:11:03 +0000

Situated right in town with a front-door bus stop, this 2 bed / 2 bath condo is a steal at this price. Only four blocks from the gondola and 2 blocks from Main Street Breckenridge. This condo is truly priced to sell. On site pool, hot tub, work out room, owner’s lounge and underground parking.

3 bed+loft Downtown Breckenridge Condo For Sale

keith — Thu, 04 Feb 2010 21:46:58 +0000

Great location in downtown Breckenridge, CO. Next to Carter Park (aka the dog park), this remodeled condo has view that are tough to beat. The low HOA dues and great location make this a great home for a local or weekend getaway.

Recent Sale - Highest Price Ever For A Lot In Breckenridge

keith — Thu, 04 Feb 2010 20:32:15 +0000

This January is breaking the standards of slow markets and bad economies in Breckenridge. Shortly after a Breckenridge home sold at a new record high price of $8.3 million, the Breckenridge real estate market sold off its highest priced residential lot ever. Listed at $3,500,000 for well over a year, the lot next door to the record home sold for $3,300,000. Purchased in 2007 for $2,600,000, this sale proves that ski-in ski-out real estate in Breckenridge is definitely in demand.

2009 Summit County & Breckenridge Real Estate Statistics

keith — Mon, 25 Jan 2010 06:41:15 +0000

2009 SUMMIT COUNTY REAL ESTATE SALES STATISTICS:

Compared to 2008 Summit County Real Estate Sales Statistics

Provided by Brook Roberts of Land Title Guarantee Company, Summit County Public Records, The Summit County MLS, and Keith Kirchner

Residential Transactions – Down 32% to 1245 from 1834 sales in 2009
Residential Dollar Volume – Down 36% to $683,000,000 from $1,066,000,000
Average Single Family Home Price – Up 4% from $670,000 to $695,000
Average Residential Sale - $587,000 - Up 0.8% from $582,500
4th Quarter Dollar Volume - Up 9.6%
4th Quarter transactions – Up 25%
$2 million+ real estate market – Up 9.5% (23 sales in ’09 - 21 sales in ’08)

(If I had a good graph, it would show Nov. 2009 at the current lowest point of the Summit County market.)

Summit County Foreclosure Statistics

Summit County’s estimated residential properties - 26,765
Summit County properties entering foreclosure process:
• 300 in 2009
• 190 in 2008

Single-family residences actually foreclosed upon:
• 56 in 2009
• 23 in 2008

Breckenridge Real Estate

Summit County Real Estate - MLS Inventory

Number of residential listings (Inventory) Jan 16, 2010 – Down 1.4% - Compared to Jan 23, 2009
Breckenridge – 716 listings Up 0.3%
Keystone – 213 listings Up 5%
Copper – 104 listings Up 27%
Dillon/S.Cove – 112 listings Up 2.7%
Frisco – 102 listings Down 23.3%
Silverthorne & North – 214 listings Up 0.5%
Summit County Totals – 1461 Down 1.4%
359 listing over $1,000,000 – Down 27%

Summit County Association of Realtors lost in 2009 roughly 100
Summit County real estate brokerages closed – at least 6

Breckenridge Real Estate Conditions in 2010

keith — Thu, 21 Jan 2010 22:42:21 +0000

Into 2010, things look better, but the Summit County real estate market is tough to predict because of the massive national economic effects generating what is taking place. We’ve never seen anything quite like it before, but the results are common for any investment arena – a declining stabilization period after large period of growth. Despite, the recession’s effects, the light is starting to shine again, and long-term optimism is abundant. Sales in Summit County were increasing in the 4th quarter of 2009 and that trend continues today. With the Dow Jones Industrial Average almost at 11,000 again, national consumer confidence is growing, and confidence, above all things, is what we may need the most. Interest rates are still attractively low and expected to rise. Plus, Breckenridge real estate prices are 5%-20% lower than last year. All these factors set the stage for a busy year for real estate.

THE CRYSTAL BALL: Everyone wants to know “where’s the bottom?”

Despite the fact that I am cannot predict the future, I take pride in my history of being right with most of my real estate market assessments. I feel the next 6 months is the bottom of a fairly healthy and common stabilization period. It could last throughout the year, but I expect this year’s summer real estate rush to heavily reduce market inventory and end the brunt of the struggle. I expect property values to stay flat from their new lows this year, potentially declining a small amount more, and 2011 could be the upswing sellers are hoping for. When considering long-term real estate investing, 2010 will prove to be a great time to buy real estate in Breckenridge and Summit County.