Keats Ann Scott, CRS
Colorado Dreams
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Colorado Dreams Broker October 2009 Newsletter
in this issue We are having a beautiful Autumn. The aspen and cottonwood trees still have some yellow leaves, but not for much longer. We are having gorgeous days between the snowy ones. Why Buy Now~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Dr. Ted C. Jones the Chief Economist for Stewart Title spoke in Summit County this past week. I can't say that he gave a rosy outlook of the near future in the real estate market. He did have some observations that are interesting. He had worked a lot with statistics for the nation, different areas such as Florida, Las Vegas, California and Summit County. They showed that historically Summit County did not have the giant real estate bubble that some other areas had, and that we do not have the huge swings in the real estate market. Our highs aren't as high and our lows aren't as low. He also predicted that interest rates would be up to 6% by Christmas and 7 % next year. His reasoning was that the "Fed" has been buying 10 year treasury bonds which are tied to the 30 year fixed rate, they will be out of money this month which will force the rates up. That prediction is the reason you should be buying now. At 5% interest on a 30 year $300,000 loan the payment is $1610. If interest rates go up to 6% the loan amount is $270,000 and at $7% just $242,000. By waiting for prices to go down you are missing out on a lot of purchasing power. Do you think our prices will be down another 18% by next year? The other thing about prices going down, besides the market value, there is the personal value. Time with your family and friends is "priceless" as they say. Update on my listings ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Building Site in Heeney Three lots in Heeney. Just over a third of an acre. Looking for lake and mountain views - this is it. Perched above Green Mountain Reservoir. $99,500. Pictures are here Beautiful Home Just North of Silverthorne Move in condition and a pleasure to see. Lots of windows to catch the spectacular mountain views. The real wood heatalator fireplace is focus of the living area plus it helps heat the home. Updated kitchen with granite countertops and newer appliances. Private fishing on the Blue River. $545,000 More Info Now I've got a Video. Own a Piece of Heaven This is a unique building site near Cataract Creek. Adjacent to forest service land and just a short walk to the Green Mountain Reservoir. A well has been drilled and a septic is in place. Two acres for $360,000. More info at http://www.coloradodreams.com/5552heeney.htm Lake Cottage 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. 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. Give me a call to see this home. More info plus the tour on my web site $395,000 Heeney Cabin with fantastic views Around 1300 square feet this "A frame" style cabin has one small bedroom on the main floor, a loft and two other rooms on the lower walk-out level. Nice roomy living area with gas fireplace and lake views. It's priced at $275,000. You can see more pictures on my web site at http://www.coloradodreams.com/94happylanding.htm 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 See Heeney on YouTube I've put together a YouTube video of Heeney. I'm working on other areas of Summit County. Coming soon. Major Price Reductions ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Almost daily I get an email from another Realtor about a price reduction. Some are pretty hefty. I thought you might find it interesting to find out about some of them. These aren't my listings, but I can sell them. The biggest reduction has been on a home that started at five and a quarter million and is now at $3,990,000. It's located in Shadow Creek Ranch which is up Spring Creek Road just north of the Green Mountain Reservoir. The home on 72 acres is 5 bedroom, over 6500 square feet, views, granite, plank walnut floors, 3 car garage - the works. The best amenity is the Shadow Creek Ranch, each owner has a share of the working cattle ranch. Access to 5600 acres, cabins, a lodge, equestrian center, chef, and guides for fishing and hunting. A vacant lot of 70 acres is for sale in the neighborhood for $2,200,000. In the Highlands at Breckenridge there is a home that started at just under three million and now is reduced 38% to $1,825,000. That's just about the largest percent off of list there is. It's a 5 bedroom home over 5000 square feet, new construction with three fireplaces, two masters, and extra insulation and high efficient boilers. In a condo search you can find some of the million dollar properties too. To be a bit more realistic at Longbranch Condo in Breckenridge there is a two bedroom unit that has been reduced by $199,100 to $429,900. Don't let that fool you, there is another unit listed for $399,000. At the Springs at River Run a two bedroom with lock off is now at $489,000 where it started at $699,000. Another unit in the building which is larger is pending and listed at $ 549,900. The Springs at River Run is very close to the new Gondola, beautiful finishes and great pool. My examples are to show that looking strictly at the numbers doesn't give you the whole picture. I can help you figure out what is a good deal for you. Lender News~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Late last week rates dipped below 5% for a 30 year loan. You will need good credit (720 credit score or above). These rates are changing daily. The rates also vary depending on the property type, credit scores and documentation required. Per Ted C. Jones these rates will not last. 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. My toll free number is 800-571-1091 or 970-485-0793 or send an email to keats@coloradodreams.com. Parade of Homes Review ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I have to tell you my impressions of the parade this year. It wasn't the flat screen TV's in every room. It was the washers and dryers - in one home two sets in the laundry room. It was normal to have a set on each floor. Watch for that next time you are looking for a home. Find me on Facebook~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Find me at http://www.facebook.keats.ann.scott.com
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