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 July 2005 Newsletter
in this issue Hope you had a good Fourth of July weekend. Here in Summit County lots of activities were going on and it looked like everyone had a fun. Great fireworks in Frisco and Kremmling! Dillon and Green Mountain Reservoirs are full to the brim. Come and enjoy! The real estate market is very strong with multiple offers coming in on properties. It's actually very frustrating because if a property has been on the market for a year or two you would think there was not a rush to get an offer in. This is a sure sign that prices should be moving up. Sellers that have been sitting on the fence waiting for the market to get better will be putting their property on at higher prices. Helping with the Cash Flow on the Short Term Rental~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Many buyers want to rent out their unit when they aren't using it themselves. The traditional property management companies do everything for you including, booking the unit, marketing, cleaning and sending you a check for your share of the rent, which would be from 50 to 70% of the gross rent. Now with the popularity of the internet many owners are renting on their own. There are several do-it- yourself websites. A new type of property management company is now available which is geared to the owner who wants to book and collect the rent himself and needs the local company for check-in, emergencies and cleaning. The fee structure varies, I've seen a flat fee of $100 per month (plus cleaning) up to 30% of the gross rental. Most of these companies have a menu of services. An example of actual figures are eye-opening. A two bedroom at Copper Mountain rented by the owner with the net income of over $18,000 and the average unit of that size though Copper Mountain brought in just over $14,000. In Keystone a single family five bedroom home brought in over $36,000 by owner where a similar home around $20,000 net to owner through the traditional property management company. When I mention net to owner, that's after the property management company took their cut or in the case of do-it-yourself rentals after the marketing and cleaning fee. You still have to pay the association dues, utilities and mortgage. I'm sure some owners are doing better than others- you have to work at marketing the property. If you are willing to do some work to get the word out about your property, it can help with those rental figures. Let me know if you would like more information about this new breed of management company. Other Properties I Have Liked~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ These may be under contract by tomorrow- but they are still showing "active" today. In Keystone: *Hidden River Lodge two bedroom, two bath for $299,900 Ground floor end unit at the south east corner of the building. Walk right out the patio and follow the path to the slopes. *Tenderfoot Lodge two bedroom, two bath for $374,875. Very interesting floor plan with a large living room in which there is even enough room for a murphy bed, so this condo sleeps eight. Views of the slopes at Keystone. Summerwood between Dillon and Keystone: *If I had $2,225,000 this is where I would be tempted to spend it! A fantastic home just constructed at the top of Summerwood overlooking Lake Dillon. 3 bedroom, office, study and formal dining room in a refreshing floorplan. Granite counters and beautiful finishes. Big views, but not good if you don't like heights. In Wildernest and above Silverthorne: *Two good units in Prospector Village, both two bedroom, two bath, one furnished and one not. Priced at $261,000 and $259,000. The two bedroom unit I had for sale in the complex closed last month for $256,000. Great properties with covered parking and clubhouse. *In Mesa Cortina a four bedroom, three bath single family home on a third acre for $539,900. Massive rock fireplace and vaulted ceiling in the living area- a real mountain home. Plus watch the wildlife (bears, fox and moose) from the hot tub on the deck. Search the Summit County MLS~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ From my web site you can search the Summit County MLS. This is a great way to see what you get for your money in Summit County. You can search from: http: //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. If you are no longer interested in property in Summit County, just let me know I'll take you off my mailing list.
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