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 |
September 2008 Summit County Real Estate Newsletter ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
in this issue-- We are having beautiful fall weather. The trees will be changing before we know it. It's a great time to visit Summit County. You can have your condo it time for the ski season too. Options and Changes with the Housing Assistance Tax Act of 2008 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ In July a bill was signed into law which has some ramifications for buyers and sellers of real estate. First time home buyer tax credit. For first time home buyers, who close on or after April 9, 2008 and before July 1, 2009. A tax credit of 10% of the purchase price up to $7500. This credit comes when you pay your taxes, the government will send you a check for the difference between what you owe in taxes and the $7500. (assuming you owe less than $7500). You have to pay it back, but it's basically an interest free loan. There are limitations, such as the property must be single-family principal residence and the buyer can't have owned in the last 3 years. Property tax deduction This is for home owners who do not itemize their deductions on their tax return. It's only good for the year 2008. It increases the standard deduction by $500 for single filers and $1000. for married filing jointly, but it can't be more than the amount paid in property taxes for the year. Modified Home Sale Exclusion Reading this one will make your eyes glaze over. The short form is that if you are selling a property which had been an investment or second home and then you moved into it and expected to take the $250,000 tax free gain as a single person ($500,000 married) because you had lived in the home for 2 of the last 5 years. Now that time is prorated, so you may owe capital gains on some of the sale. This goes into effect on January 1, 2009. As always check with your tax adviser to see how these changes will affect you.
Update on my listings Silverthorne Townhome Two bedroom with one and 3/4 bath. This is a great starter property or a second home too. Located on a quiet street just a few blocks north of the Rec Center in Silverthorne. Large kitchen with sun room attached. Back yard is great for pets. No monthly association dues. Priced at $285,000 More Info Heeney Cabin with a view, but no plumbing. Small, 480 square foot cabin on a .22 acre lot at the south end of Heeney. Nice location set back from the lake. A few pictures are on my web site. $121,000. Under Contract Beautiful Log Home south of Breckenridge Price reduced to $639,000. Looking for the "cabin" in the woods? Here it is. Elegant and charming with a kitchen to die for. Three bedrooms, loft, family room, 2 and a half baths, 2448 square feet and an attached 2 car garage on a half acre about 8 miles south of Breckenridge. Information on this beautiful home and the tour. Two Acres on Green Mountain Reservoir $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 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 Rainbow Village Condo Move right in and make yourself at home. Fully furnished two bedroom two bath condo across from Rainbow Park in Silverthorne. This can be your Summit County headquarters for hiking, skiing, biking and relaxing. A second floor unobstructed view of Red and Buffalo Mountains. Price reduced to $260,000 More Info The two bedroom in Buffalo Ridge sold for $292,000. Always for the latest information, check out the listings page on my web site. http://www.coloradodreams.com/listings.htm
Summit County Parade of Homes The 14th annual Parade of Homes is two weekends in September, the 20th and 21st and the 27th and 28th. The Summit County Builders Association puts on the parade, they have teamed up with The Summit Foundation a local non-profit organization to make the parade one the best events of the year. The $10.00 entry fee goes toward the Summit Foundation. This year you will see all the latest trends in technology and media (how many TVs will these homes have!), green build products, and innovative ideas. There are 26 homes on the tour, good thing there are two weekends to cover them all. Twelve are in the Breckenridge area, most in the Highlands. Three out at Copper Mountain, two of those are up in Lewis Ranch. Three Peaks is the location of all but one of the six homes in the Silverthorne area. Keystone area has four homes, two in the Elk Run area. A few of the homes are for sale, below is a description of some of them. Just south of Breckenridge, a five bedroom home in Warriors Preserve Subdivison. 5344 square feet with three full baths, 2 baths with shower and 2 half baths. Built Green and Energy Star certified plus it's sold furnished. Priced at $3,199,000. For $1,989,000 a 4650 square foot home in Three Peaks. Four bedrooms with four and a half baths. Big golf course views from the covered deck. Three fireplaces and an oversized three car garage. In the Keystone area a five bedroom home with 5 and a half baths, 4635 square feet. Stunning ski slope views. Hand-hewn wood floors, vaulted ceilings, granite, Sub-Zero and Wolf, would you expect no less for $2,299,000. Out at Lewis Ranch at Copper Mountain. Five bedrooms, five and a half baths, 5204 square feet. Hand cut stone, chinese elm, alder, cedar, fir, granite slab and tile. Chef's kitchen, sold furnished, wired for elevator, heated driveway. $3,700,000. Let me know if you would like more information on any of these properties. Stop by my office at the corner of 5th and hwy 9 in Silverthorne for the booklet and map. Lender News~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Thirty year rates have come down, now under 6% at 5.625% If you have a credit score over 720 and you put 30% down the rates may be even lower. The 15 year fixed is 5.25% 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.
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