Colorado Dreams
Keats Ann Scott, CRS
I can send you a list of everything currently for sale in Summit County, just ask.
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Colorado Dreams |
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Keats Ann Scott, CRS |
I can send you a list of everything currently for sale in Summit County, just ask. |
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Colorado Dreams
PO Box 2808
800-571-1091 |
Colorado Dreams Broker
in this issue Summer in Summit County - clear blue skies, beautiful lakes, wildflowers, cool nights. What more could you ask for. Lots of town activities - art shows, Bar-B-Q's, etc. hope you have a chance to visit this summer. And.. of course - it's a great time to look at and buy property! Shared Interests for Sale~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ One of the trends mentioned at the Second Home and Resort Conference was people buying a shared interest in a property. Over the years I've sold a couple of those types of properties, but more often two or more couples that have gone together to buy a home in Summit County. When buying a property with friends or family there are several things to think about. How will you take title? A partnership, LLC? You will want to talk to an attorney to set it up correctly. Are you getting a loan? Usually everyone is on the loan, the lender will look at everyone's credit, income, etc. Who will pay the bills? How will you deal with co-owners late payments? How will you handle the schedule, the cleaning of the unit? Are pets allowed, how about smoking, and rentals? What if someone wants out and what will the process be? Will you offer a first right of refusal to current owners? Lots to think about. If you don't have the friends or family to go in with, there are properties listed with shared interests for sale. Right now there are 65 shared interests for sale in Summit County. The lowest price is $16,500 for 3 weeks in a 2 bedroom 2 bath at the Greens at Copper Mountain. There is a schedule for the rotating 3 weeks, one week in the summer and winter and another in the spring or fall. All the rules are in place and the annual association dues are $1,187. The most expensive shared property is a half interest of a three bedroom single family home above Breckenridge for $675,000. The partnership agreement has not been set up, the buyer and seller would need to come to agreement prior to closing. Normally a quarter share (or other shared interest) price will be at a premium over a whole unit that would be for sale. An example is a quarter share of a two bedroom Expedition Station for $120,000 where a whole unit the same size is selling around $400,000. You can search the shared interests for sale by going to http://www.coloradodreams.com/idx.htm and then #4 Partial Ownership Search. Update on my listings~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Just Listed A studio unit in the River Run Village at Keystone. Walk to the gondola, shops, summer and winter festivals and activities. Large (540 square feet) with pull- out sofa and Murphy Bed, full kitchen and dining area too. Step out onto the deck with mountain views to the east and the ski slopes to the south. The Expedition Station complex has outdoor year around pool and hot tub, fitness room with machines, ski lockers, lounge with pool table and underground parking. This can be your Keystone get-a-way for $275,000 More info. Two bedroom Summer Cabin Secluded feeling at end of privately maintained lane. 2 bedroom with one bath, around 600 sq ft plus storage building. Lots of aspen trees and lake views. The perfect property if you are looking for something to fix up or tear down and start from scratch. Price reduced to $175,000 More pictures. Spectacular Home overlooking the Green Mountain Reservoir Over 5000 square feet, on 20 acres at the north end of the Green Mountain Reservoir. Unsurpassed views of the lake and Gore Range. Three bedroom, three bath, a loft, office, library and family room. Three car attached garage plus another garage building. The home was built in 2001. It features a gourmet kitchen with Dacor 6 burner gas stove with double oven, plus a wall oven with warming drawer, Subzero side by side refrigerator, granite counter tops, built-in cabinets in the dining area and more. Big windows to catch the views. Great space for entertaining family and friends. This great home is listed for 1.4 million. Pictures or take a tour Two Acres on Green Mountain Reservoir Price reduced to $385,000! Really neat land adjacent to forest service land which is surrounding the lake. Ready to build with well and septic for a four bedroom home in place. Give me a call to find out about this unique property. More pictures Heeney Business For Sale This is your chance. The liquor store and bait shop are for sale in Heeney! The price includes 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 Always for the latest information, check out the listings page on my web site. http://www.coloradodreams.com/listings.htm Other properties I have liked ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Continuing on the shared interest subject. There is a three bedroom 4.5 bath 3272 square foot home in Hamilton Creek (above Silverthorne) with a quarter share for sale. This is a beautiful home built in 1996 with incredible Gore Range views. It is beautifully furnished too. This is an established shared ownership with schedule and all the rules are in place. The association dues are $530 per quarter which does not include the cleaning or taxes. The price is $299,900. for a quarter share. The rest of these properties are whole ownership. Wildernest townhome with low dues (140. per month) and peaceful setting. Two bedroom plus loft, two bath 1393 square feet and a one car detached garage. Just redone with custom wood floors and new carpet. $409,000. I've mentioned this house before, but now the price has been reduced to $575,000. Three bedroom plus study, 3 bath half duplex in Silverthorne. Nice open split level floor plan, 2216 square feet. Remodeled with new appliances, counter tops, cabinets, hickory floors and carpet. Fenced yard and two car garage. Western views too. Cortina is a subdivision next to Wildernest above Silverthorne. I liked this home because of the potential and view. Four bedroom, 2.5 bath, 2636 square feet on a third of an acre. The home is dated, but it's things that can be changed (light fixtures and red kitchen sink). What I liked the best was the lake view from the big living room windows. There is an attached two car garage plus a 600 square foot shop. Priced at $669,000. Log home in Pebble Creek (about 12 miles north of Silverthorne) 4 bedroom, 3.5 bath, 3879 square feet set in a beautiful aspen grove. Views of the Gore Range. Massive stone fireplace, large rec room and completely furnished. The Pebble Creek neighborhood has 176 acres of common area and equestrian facilities available to owners. Frisco home tucked into the woods and just of the bike path. 6 bedrooms 6 baths and 6000 sq feet. Fabulous kitchen with alder cabinets and slab counter tops. Home theater and family room on the lower level. Walk right out the door to forest service land and watch wildlife from the living room window. This home was on the Parade of Homes tour two years ago. Listed for $2,399,000. That reminds me - don't forget this years Parade of Homes in Summit County - the second and third weekends in September. Let me know if you would like more information on any of these properties. Interest Rates and Lender News ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The mortgage industry has been in the news a lot in the last couple weeks. Luckily if you have 20% down, have good credit, can document your income and the property you are buying doesn't have issues getting a new loan shouldn't be a problem. If you have less than 20% to put down, not such good credit or need a "no doc" loan you may be out of luck or at least have to pay a much higher rate. The mortgage crisis is also effecting "jumbo" (more than $417,000) loans. In the jumbo loan case there is money but the rate is higher. It looks like the 2nd loan option is just about eliminated. That was when you could get a 80% of the value in the first loan and 10% as a second, so you only had to put down 10% and didn't have to pay mortgage insurance. Now with all that said. The rates on a conforming loan are less than there were last month. 6.25% 30 year fixed 7% 30 year fixed for a Jumbo Loan 6% 5 year ARM 6.75% 5 year ARM Jumbo Loan 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.
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