Keats Ann Scott, CRS
Colorado Dreams
I can send you a list of everything currently for sale in
Summit County, just ask.
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I can send you a list of everything currently for sale in
Summit County, just ask. |
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Colorado Dreams |
Colorado Dreams Broker March 2009 Newsletter ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
in this issue We are having a beautiful spring-like March. I'm figuring it will start really snowing as soon as the ski areas close. Since it's not possible to do anything about the weather - might as well enjoy it. Stimulus for First Time Home Buyers~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Jim Doyle, one of my favorite local lenders, has been kind enough to write up an article about the first time home buyer credit. His company is Lake Dillon Mortgage. Here's a link to his web site. Now is the time to buy a home and the "First Time Home Buyer Credit" is one of the major reasons. The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. It can be claimed with the filing of either 2008 or 2009 taxes. And can be claimed on the tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser. This tax credit is what's called "refundable" credit. Thus, if the eligible purchaser's total tax liability was $6000, the IRS would send the purchaser a check for $2000. The refundable amount is the difference between $8000 and the tax owed. A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase. There are income restrictions based on the purchaser's tax filing status. Individuals filing Form 1040 as Single (or Head of Household) are eligible for the credit if their income is no more than $75,000. Married couples who file a Joint return may have income of no more than $150,000. The credit does not totally go away at those income levels but phases-out between $75,000 - $95,000 for singles and $150,000 - $170,000 for married filing joint. Update on my listings~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ $100,000 Price Reduction These sellers are serious and ready to sell now. They have reduced the price on this cabin to $395,000. This is a chance for you to own your very own lake cottage in Heeney. This picture is from the back. Your jaw will drop when you get inside. Knotty pine throughout, it's the quintessential lake cottage. A large open living area with lake views opening to a giant deck. Eat-in kitchen with all the modern conveniences (unusual for Heeney). The antique cookstove which is used as woodstove in the living area is a real charmer. One bedroom and a bath with shower on the main level, downstairs is a small family room, two bedrooms and a full bath with claw foot tub. There is also inside storage for a small boat or other toys and workshop. The location is almost on the shore of the Green Mountain Reservoir. Adjacent to forest service land, only about 150 feet from the lake shore (when the reservoir is full). The seller is part owner in a dock too. It is possible to see now (just give me warning so I can shovel the snow)More info plus the tour on my web site $395,000. In Blue Valley Acres There is a price reduction on this home too - now $299,000. Five bedroom, two bath home. Enjoy lots of space inside and out. Traditional two story floor plan with four bedrooms and a bath upstairs and another bedroom on the main level. Freshly painted kitchen and living room. Lots of updates with new decks, windows, siding and kitchen tile. The full basement works great as a workshop and extra storage. Outside is a three bay garage with heavy duty 220 wiring and other features. Blue Valley Acres is a sportsman's paradise with private fishing rights on the Blue River, hunting, snowmobiling and lake activities nearby. More pictures Now $299,000. Heeney Property For Sale Currently the liquor store and bait shop. Almost an acre of land, three buildings, the business and fixtures. The buyer will purchase the inventory separately. You aren't limited to liquor store and bait shop, B-1 zoning has lots of options. It's possible for the owners to live on the premises too. $350,000. More Info Snapshot of Single Family Homes in Summit County~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ This month I thought it would be interesting to give you a quick overview of the single family homes for sale in Summit County. There are 563 single family homes listed for sale. The three lowest priced homes ($89,600 to $146,900) are modulars in Swan Mountain Village. The properties must be owner occupied and they have a $750. per month lot rent fee. The next three are in Tiger Run Resort, small modulars ($165,000 to $215,000), there you do own the lot, but zoning restrictions do not allow full time occupancy. So the lowest price without restrictions is an older three bedroom modular near Breckenridge for $265,000. Between 300K and 400K there are just eleven single family homes for sale in the whole county. 400K and 500K there are 37 and between 500K and 600K there are 32. Near Dillon is a 4 bedroom home with two levels (each with its own kitchen and living area) for $435,000. which seems like a good buy. $600K to $700K there are 28 homes listed for sale $700K to $800K there are 45 homes listed for sale $800K to $900K there are 37 homes listed for sale $900K to a Millon there are 31 homes listed for sale With those numbers above you can see that we have 335 homes for sale for over a million. More than half the listings. Between 1 and 2 million there are 220 homes for sale. The average home has 4 bedrooms 4 baths, 4022 sq ft, built in 1999 and has been for sale for 205 days. Between 2 and 3 million there are 73 homes on the market. The average home has 5 bedrooms, 5 baths, 5300 square feet, was built in 2002 and has been on the market for 250 days. Between 3 and 4 million there are 30 homes for sale. The average home has 5 bedrooms, 6 baths, 5600 square feet, built in 2003 and has been on the market for 175 days. The highest priced home is right on the ski slope in Breckenridge, $8,399.000 for 7 bedroom 5 bath and over 6000 square feet. There are 12 homes for sale over 4 million, the average home has 6 bedrooms, 7 baths over 7000 square feet, built in 2004 and 195 days on the market. Let me know if you would like more information on any of these properties. Lender News~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Rates continue to be great! If you have the best credit (score of 740 or better) you could get less than 5 % for a 30 year loan. The rates are changing daily and vary depending on the property type, credit scores and documentation required. Call me, I work with lots of good lenders. If you would like to know what you can qualify for just give me a call or email and I'll put you in touch with some of them. Search the Summit County MLS~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ You can search everything for sale in the Summit County MLS from my web site at: www.coloradodreams.com/idx.htm Call me (or email) if you would like the latest list of everything currently for sale. Go ahead and forward this email on to any friends and family who are interested in Summit County Colorado real estate. Your referral is the greatest compliment you can give me. My toll free number is 800-571-1091 or 970-485-0793 or send an email to keats@coloradodreams.com. On a personal note~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Don and I did not miss our flight - actually the time didn't change in Hawaii. We had a great time. If you want recommendations of where to stay on the Big Island, let me know.
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