Breckenridge is an amazingly unique town, nestled in the Rocky Mountains almost two miles above sea level. I feel extremely fortunate to live here and serve the needs of this old mining town as well as the rest of Summit County.
To get a feel for what I mean, click below:
History of Breckenridge
Want to own a piece of this historic town, or learn more about real estate investment possibilities, check out my web site.
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Wednesday, December 28, 2005
Wednesday, December 21, 2005
Breck's new Skyway Skiway opens Friday
Excerpts from a Summit Daily News article by Nicole Formosa, Wednesday, December 21, 2005.
Breckenridge ski resort will open its new skier bridge a year early, thanks to a heaping dose of early season snow and an ambitious construction schedule.
The Skyway Skiway opens Friday (December 23), and will serve as a link for Breckenridge skiers and riders from Peak 8 to the free skier parking lots.
The resort originally planned to complete the bridge construction in time for the 2006-7 ski season, but construction crews worked into the fall to complete the project a year early.
"The Skyway Skiway is an example of the ski resort and the town working together to better meet the needs of our guests, including easier access from the mountain to the parking lots and Main Street," said Roger McCarthy, chief operating officer for Breckenridge and Keystone.
In May, 2002, the town of Breckenridge and Breckenridge Ski Resort signed a landmark agreement outlining a development plan for Peaks 7 and 8 designed to uphold both the resort town's world-class stature and quality of life. The construction and completion of the Skyway Skiway is an integral part of implementing the agreement.
The resort still needs to put in snowmaking on the Skyway Skiway next summer.
For information about building sites adjacent to the Skyway Skiway, check out Lomax Estates or Susan Gunnin's web site.
Breckenridge ski resort will open its new skier bridge a year early, thanks to a heaping dose of early season snow and an ambitious construction schedule.
The Skyway Skiway opens Friday (December 23), and will serve as a link for Breckenridge skiers and riders from Peak 8 to the free skier parking lots.
The resort originally planned to complete the bridge construction in time for the 2006-7 ski season, but construction crews worked into the fall to complete the project a year early.
"The Skyway Skiway is an example of the ski resort and the town working together to better meet the needs of our guests, including easier access from the mountain to the parking lots and Main Street," said Roger McCarthy, chief operating officer for Breckenridge and Keystone.
In May, 2002, the town of Breckenridge and Breckenridge Ski Resort signed a landmark agreement outlining a development plan for Peaks 7 and 8 designed to uphold both the resort town's world-class stature and quality of life. The construction and completion of the Skyway Skiway is an integral part of implementing the agreement.
The resort still needs to put in snowmaking on the Skyway Skiway next summer.
For information about building sites adjacent to the Skyway Skiway, check out Lomax Estates or Susan Gunnin's web site.
Tuesday, December 06, 2005
Highest ski lift in U.S. officially opens
This is an article that appeared in The Denver Post, December 6, 2005.
Breckenridge - The highest ski lift in North America officially opened on Monday [Dec. 5], introducing newcomers to a longtim locals' secret of high-alpine bowl skiing at Breckenridge ski resort.
The Imperial Express, which tops out at 12,840 feet, had been open for short periods last week, but attracted a crowd for a ribbon-cutting ceremony and first tracks in fresh powder on Monday.
"It was soft, soft snow" said resort spokeswoman Nicky DeFord. "We've gotten 3 feet of snow in the past week."
Built with particularly rugged design to withstand avalanches and Breckenridge's notorious wind, the new lift is expected to operate at least 90 days this season, depending on snow conditions and visibility.
Breckenridge - The highest ski lift in North America officially opened on Monday [Dec. 5], introducing newcomers to a longtim locals' secret of high-alpine bowl skiing at Breckenridge ski resort.
The Imperial Express, which tops out at 12,840 feet, had been open for short periods last week, but attracted a crowd for a ribbon-cutting ceremony and first tracks in fresh powder on Monday.
"It was soft, soft snow" said resort spokeswoman Nicky DeFord. "We've gotten 3 feet of snow in the past week."
Built with particularly rugged design to withstand avalanches and Breckenridge's notorious wind, the new lift is expected to operate at least 90 days this season, depending on snow conditions and visibility.
Monday, December 05, 2005
Ski conditions in state called best in years
Following are excerpts from an article in The Denver Post, by Joe Garner on December 3, 2005.
Round-the-clock snow storms for the past week have blanketed the ski mountains closest to Denver with near-record snowfall. hyping prospects for the holidays and even the entire season.
Snowpack in the central and northern mountains measures as high as 132 percent of average. The word is out that Colorado has the kind of snow that skiers everywhere dream about.
"The snow is grandiose, stellar", "This powder is insanely nice", and "Its the best snow in 20 years, maybe ever" are quotes from a few skiers.
Vail, Keystone and Breckenridge are ballyhooing the season as one of the snowiest ever, with record amounts of terrain open - and more opening every day as the snow continues.
Breckenridge has enjoyed 108 inches of snow so far. The most previously recorded at this time of year was 78.4 inches in 1985.
Round-the-clock snow storms for the past week have blanketed the ski mountains closest to Denver with near-record snowfall. hyping prospects for the holidays and even the entire season.
Snowpack in the central and northern mountains measures as high as 132 percent of average. The word is out that Colorado has the kind of snow that skiers everywhere dream about.
"The snow is grandiose, stellar", "This powder is insanely nice", and "Its the best snow in 20 years, maybe ever" are quotes from a few skiers.
Vail, Keystone and Breckenridge are ballyhooing the season as one of the snowiest ever, with record amounts of terrain open - and more opening every day as the snow continues.
Breckenridge has enjoyed 108 inches of snow so far. The most previously recorded at this time of year was 78.4 inches in 1985.
Friday, November 25, 2005
New ski terrain opening
"Local resorts will have plenty of terrain to offer skiers and riders for the Thanksgiving weekend"
This was the byline for an article in the Summit Daily News, November 25, 2005, written by Nicole Formosa. A summary of that article follows:
Summit County ski areas are dishing up more terrain to satisfy the appetites of skiers and snowboarders hungry for new snow this Thanksgiving weekend.
Copper Mountain will have the Super Bee Lift and Lower Andy's Encore, Lower Collage and Oh No trails open by Friday morning. The Rendezvous lift will be open Friday through Sunday to service beginner terrain.
Breckenridge Ski Resort has 1,400 acres of terrain, 20 lifts and 96 trails open between Peaks 8, 9 and 10, making it the mountain with the most available acreage in the nation.
Guests can access the newly opened terrain on several major lifts including the Falcon SuperChair, Snowflake, Peak 8 SuperConnect, the Colorado SuperChair and the Rocky Mountain SuperChair.
At Keystone, the Outback mountain's North and South bowls are scheduled to open Friday, boosting open terrain to 1,2o0 acres.
Loveland Ski Area is already 88 percent open.
All of Arapahoe Basin's beginner-level trails and most of its intermediate runs are open.
Susan Gunnin says this is one of the best Thanksgiving weekends I can remember. Check out local real estate conditions at her web site.
This was the byline for an article in the Summit Daily News, November 25, 2005, written by Nicole Formosa. A summary of that article follows:
Summit County ski areas are dishing up more terrain to satisfy the appetites of skiers and snowboarders hungry for new snow this Thanksgiving weekend.
Copper Mountain will have the Super Bee Lift and Lower Andy's Encore, Lower Collage and Oh No trails open by Friday morning. The Rendezvous lift will be open Friday through Sunday to service beginner terrain.
Breckenridge Ski Resort has 1,400 acres of terrain, 20 lifts and 96 trails open between Peaks 8, 9 and 10, making it the mountain with the most available acreage in the nation.
Guests can access the newly opened terrain on several major lifts including the Falcon SuperChair, Snowflake, Peak 8 SuperConnect, the Colorado SuperChair and the Rocky Mountain SuperChair.
At Keystone, the Outback mountain's North and South bowls are scheduled to open Friday, boosting open terrain to 1,2o0 acres.
Loveland Ski Area is already 88 percent open.
All of Arapahoe Basin's beginner-level trails and most of its intermediate runs are open.
Susan Gunnin says this is one of the best Thanksgiving weekends I can remember. Check out local real estate conditions at her web site.
Friday, November 18, 2005
Local ski areas open up more terrain
"New terrain is being opened quickly thanks to heavy, early season snowfall"
In a paraphrase of an article in the Summit Daily News, posted November 18, 2005, Nicole Formosa reports:
Nearly three feet of snow covered Summit County in the past week, priming local ski areas to open unusually large acres of terrain for the early season.
Arapahoe Basin spokesperson, Leigh Heirholzer said: "We have three times the amount of snow we had last year, year-to-date. The last time we had a base like this was January 30, 2004." A-Basin, has a 39 inch base.
Loveland ski area has 68 percent more snowfall than its average. The mountain reported a 40 inch base, and 34.5 inches since November 12.
Breckenridge Ski Resort will open 300 new acres of terrain for the coming weekend, including the Quicksilver Super 6 and Mercury Superchair on Peak 9. Peaks 8 and 10 are slated to open Wednesday, November 23, in time for the Thanksgiving holiday. "This will probably be the best opening we've had in years..." said Rick Sramek, vice president of Breckenridge operations.
Keystone Resort plans to open both the North Peak and Outback mountains on Saturday (November 19th), which will be the first time in recent memory all three mountains have opened this early. Keystone has a 34 inch base.
Copper Mountain will open the American Flyer and Timberline express lifts with service to about 20 new ski trails. A total of seven lifts, 46 trails and 546 acres of terrain will be open this coming weekend, prior to Thanksgiving.
Vail Mountain is READY. It opens today, November 18th, with a little over 1,000 acres of terrain on 72 trails, serviced by 11 lifts. Vail has nearly 6 feet of snow at the top of the mountain. For Thanksgiving, the resort will open an additional six lifts.
Beaver Creek opens November 23rd.
Susan Gunnin says "This is one of the most incredible starts to the ski season I've seen in my 14 years of living here."
For more information about Summit County and Breckenridge, visit Susan's web site.
Local ski areas open up more terrain
"New terrain is being opened quickly thanks to heavy, early season snowfall"
In a paraphrase of an article in the Summit Daily News, posted November 18, 2005, Nicole Formosa reports:
Nearly three feet of snow covered Summit County in the past week, priming local ski areas to open unusually large acres of terrain for the early season.
Arapahoe Basin spokesperson, Leigh Heirholzer said: "We have three times the amount of snow we had last year, year-to-date. The last time we had a base like this was January 30, 2004." A-Basin, has a 39 inch base.
Loveland ski area has 68 percent more snowfall than its average. The mountain reported a 40 inch base, and 34.5 inches since November 12.
Breckenridge Ski Resort will open 300 new acres of terrain for the coming weekend, including the Quicksilver Super 6 and Mercury Superchair on Peak 9. Peaks 8 and 10 are slated to open Wednesday, November 23, in time for the Thanksgiving holiday. "This will probably be the best opening we've had in years..." said Rick Sramek, vice president of Breckenridge operations.
Keystone Resort plans to open both the North Peak and Outback mountains on Saturday (November 19th), which will be the first time in recent memory all three mountains have opened this early. Keystone has a 34 inch base.
Copper Mountain will open the American Flyer and Timberline express lifts with service to about 20 new ski trails. A total of seven lifts, 46 trails and 546 acres of terrain will be open this coming weekend, prior to Thanksgiving.
Vail Mountain is READY. It opens today, November 18th, with a little over 1,000 acres of terrain on 72 trails, serviced by 11 lifts. Vail has nearly 6 feet of snow at the top of the mountain. For Thanksgiving, the resort will open an additional six lifts.
Beaver Creek opens November 23rd.
Susan Gunnin says "This is one of the most incredible starts to the ski season I've seen in my 13 years of living here."
For more information about Summit County and Breckenridge, visit Susan's web site.
Thursday, November 10, 2005
New Peak 8 Lift in Breckenridged
Breck proposes Peak 8 lift
Detachable quad would be the highest lift in North America and would 'change the perception' of the resort
Breckenridge -- What many consider to be some of the best advanced terrain the Breckenridge Ski Resort has to offer - the Imperial Bowl, the Lake Chutes and Peak 7 Bowl - has been available only to those willing to earn their turns by hiking.
That could change soon.
Bringing to life a desire on its wish list since the late 1990's, the resort in October will formally propose to the U.S. Forest Service a new chairlift to run from the top of Chair 6 up the spine of Imperial Bowl.
Should it be approved, the detachable quad could be ready for operation as early as the 2005-2006 winter, depending on how fast construction goes.
The Breckenridge "Summit Lift," as the resort is calling it, would be relatively low capacity (600 passengers per hour, compared to the 2,800 per hour that Breck's Colorado Super Chair transports), and would separate its chairs by up to 300 feet, to give the entire structure a minimal wind resistance.
It would unload at 12,840 feet, about 60 feet from the summit of Peak 8, and would be the highest lift in North America - surpassing Loveland's Chair 9, which peaks at 12,700 feet.
It would also be fast, rising 940 vertical feet in 2.7 minutes, and would directly access both the south- and north-facing Peak 8 bowls as well as the Lake Chutes and Peak 7 Bowl, with a short traverse in either direction.
In a sense, it would transform a ski area that has often been labeled a beginner's mountain. "This would change the perception of Breckenridge," said director of mountain operations Rick Sramek, who is leading the resort's push to get the lift approved. "It would certainly change the way advanced skiers skied the mountain."
The lift-building process
The lift approval process to this point has been relatively informal, one the resort has used to feel out the potential of the project. It began last fall with a general, here's-what-we'd-like-to-do briefing of the U.S. Forest Service. In that meeting, Sramek outlined what the resort had done to investigate the impact the lift would have on the environment, both biologically and botanically.
It would have little impact, the resort said.After creating topographical images to represent what the lift would look like and exactly where it would be located, Sramek and lift director Jon Mauch held a "courtesy meeting" along with Dillon Ranger District Ranger Rick Newton and winter sports administrator Joe Foreman to alert the Breckenridge Town Council and Summit County commissioners of the project last week.
Both Breckenridge Mayor Ernie Blake and Commissioner Bob French - who deals with Breck issues - gave the project a thumbs up.Sramek said the resort will present its formal proposal to Newton - who will ultimately decide whether of not the lift goes in - in mid-October.According to Newton, the two primary cons the Forest Service will consider are the following: boundary issues - will this encourage people to use the ski area more to access the back-country? - and visuals - how intrusive, if at all, would the lift be to those looking up from the town?
Newton, who is in his first year as DRD ranger, said that because there is no timber in the proposed impact area, "wildlife issues and ground-impact issues are pretty benign."He also said that although public input would be something to consider, he's unlikely to be swayed in either direction by letter volume. "It's not a voting game," he said.On that note, Mauch said, "I'm confident it will get approved, personally."
Detachable quad would be the highest lift in North America and would 'change the perception' of the resort
Breckenridge -- What many consider to be some of the best advanced terrain the Breckenridge Ski Resort has to offer - the Imperial Bowl, the Lake Chutes and Peak 7 Bowl - has been available only to those willing to earn their turns by hiking.
That could change soon.
Bringing to life a desire on its wish list since the late 1990's, the resort in October will formally propose to the U.S. Forest Service a new chairlift to run from the top of Chair 6 up the spine of Imperial Bowl.
Should it be approved, the detachable quad could be ready for operation as early as the 2005-2006 winter, depending on how fast construction goes.
The Breckenridge "Summit Lift," as the resort is calling it, would be relatively low capacity (600 passengers per hour, compared to the 2,800 per hour that Breck's Colorado Super Chair transports), and would separate its chairs by up to 300 feet, to give the entire structure a minimal wind resistance.
It would unload at 12,840 feet, about 60 feet from the summit of Peak 8, and would be the highest lift in North America - surpassing Loveland's Chair 9, which peaks at 12,700 feet.
It would also be fast, rising 940 vertical feet in 2.7 minutes, and would directly access both the south- and north-facing Peak 8 bowls as well as the Lake Chutes and Peak 7 Bowl, with a short traverse in either direction.
In a sense, it would transform a ski area that has often been labeled a beginner's mountain. "This would change the perception of Breckenridge," said director of mountain operations Rick Sramek, who is leading the resort's push to get the lift approved. "It would certainly change the way advanced skiers skied the mountain."
The lift-building process
The lift approval process to this point has been relatively informal, one the resort has used to feel out the potential of the project. It began last fall with a general, here's-what-we'd-like-to-do briefing of the U.S. Forest Service. In that meeting, Sramek outlined what the resort had done to investigate the impact the lift would have on the environment, both biologically and botanically.
It would have little impact, the resort said.After creating topographical images to represent what the lift would look like and exactly where it would be located, Sramek and lift director Jon Mauch held a "courtesy meeting" along with Dillon Ranger District Ranger Rick Newton and winter sports administrator Joe Foreman to alert the Breckenridge Town Council and Summit County commissioners of the project last week.
Both Breckenridge Mayor Ernie Blake and Commissioner Bob French - who deals with Breck issues - gave the project a thumbs up.Sramek said the resort will present its formal proposal to Newton - who will ultimately decide whether of not the lift goes in - in mid-October.According to Newton, the two primary cons the Forest Service will consider are the following: boundary issues - will this encourage people to use the ski area more to access the back-country? - and visuals - how intrusive, if at all, would the lift be to those looking up from the town?
Newton, who is in his first year as DRD ranger, said that because there is no timber in the proposed impact area, "wildlife issues and ground-impact issues are pretty benign."He also said that although public input would be something to consider, he's unlikely to be swayed in either direction by letter volume. "It's not a voting game," he said.On that note, Mauch said, "I'm confident it will get approved, personally."
Monday, November 07, 2005
NBC's 'Three Wishes' taping in Breck this week
Special Christmas episode will feature children's wishes from around the country;
Amy Grant concert is Wednesday.
In an article posted by Jennifer Harper in the Summit Daily News, November 7th, we learn that Amy Grant is coming to town. "It's beginning to look like Christmas in Breckenridge, but Santa Claus isn't coming -- NBC is!"
A summary of the article continues: NBC will be shooting the holiday episode of "Three Wishes" this week in Breckenridge. All Breckenridge businesses have been asked to decorate for Christmas a little early, so a trip through Breckenridge shows sights of lights, wreaths and ornaments.
The show features five-time Grammy Award winner Amy Grant as host visiting communities all over the country to grant wishes to deserving people.
The Christmas episode, however, is a depature from traditional episodes, since there will not be the usual 'wish tent'.
Breckenridge is providing the backdrop for Amy Grant's Christmas show, and there will be wishes granted on the stage.
Her executive producer says "Breckenridge is a charming, quaint location, and we really like the Main Street charm. It's the perfect backdrop for a special about Christmas wishes and kids.
The episode will air on NBC, Friday, December 2nd.
Wednesday, October 26, 2005
September another record month for real estate
"Sept. another record month for real estate"
In an article in the Summit Daily News, October 26, 2005, reporter Duffy Hayes writes: "Real estate buyers and sellers were busy setting another record for the month of September, maintaining the momentum built up by the local real estate market over the past few months."
The article goes on to state that transactions reached an all-time high of 445 actual recorded deeds. This follows a record-setting month of August. "More people are investing in real estate versus the stock market" the report states, "and they're trying to buy in before interest rates go back up."
Breckenridge was the hottest market in Summit County. "Looking at year-to-date data, Summit County is poised to surpass the lofty real estate totals for last year. Through September, total real estate sales volume is up 133 percent over last year, and transactions are up 128 percent..."
Tuesday, October 25, 2005
The Local's Breckenridge
Breckenridge, Colorado
A personal perspective
By Susan and Don Gunnin
We wake up in the morning, and through floor-to-vaulted-ceiling windows, view the sun touching the tips of the 12,000 foot above sea level mountain tops west across the valley. In the summer, the scene is of rock formations above treeline, and in the winter, it is of the purest white snow you’ve ever seen. In the evenings, the sunsets are like John Denver’s “fire in the sky”. The air is rarefied, both literally and figuratively, and our morning coffee seems to taste better because of it.
Breckenridge, the county seat of Summit County, is a community of about 3,200 permanent residents, snuggled in a valley culminating on the south end at Hoosier Pass on the Continental Divide about 85 miles west of Denver. On either side of the valley are 12-13,000 foot mountains, the west ones of which comprise the Breckenridge ski area, one of the most popular ski resorts in North America. During peak ski season, the population can grow to 35,000 people as skiers flock to town.
Living in this rarified atmosphere is like no place else on earth. All the winter activities associated with skiing, ice skating, sledding and throwing snow balls, are complimented by summer activities of hiking, camping, music and art festivals, biking, fishing, rafting, and simply observing the beauty of wild flower covered mountains beneath the cobalt blue skies characteristic of the Rockies. A common thought among locals is “we came here for the skiing, but summers are why we stay”.
The town of Breckenridge was not originally a ski area. Unlike most ski areas which were towns created as ski areas, Breckenridge began as a Victorian mining town back in the mid 1800s. By 1880, there were eighteen saloons and three dance halls on Main Street. Gold and silver mining kept the town prosperous until the early 1940s, after which Breckenridge suffered a ‘post boom’ recession and decline in population.
Referring to the snow, the era of “White Gold” began in 1961 when the Breckenridge Ski Area opened. By 1973, Eisenhower Tunnel was bored through the Continental Divide allowing traffic on what is now Interstate 70 to make the trip from Denver in about an hour and a half.
As far as real estate goes, more than 60 percent of the homes in Breckenridge are second homes for absentee owners, many of whom plan ultimately to retire to Breckenridge. Many of these homes offer short-term rentals for destination vacationers visiting Breckenridge. This creates an investment opportunity for many, and at least helps second home owners cover some or all of their mortgage payments with rental revenue.
This real estate market is pretty hot, with projections that total buildout (when all the land available for residential building has been developed) could happen in the next 10 or so years. When that happened in Aspen, real estate values went through the roof, so this is a great place to be a realtor today!
The biggest disadvantage to all the new construction is the fear of losing some of the old-fashioned, down-home historical character of the town. Although building codes and guidelines are in place to keep this loss to a minimum, the old Victorian town still can become a settlement of million dollar estates. Perhaps this is just the price of growth!
To learn more about Breckenridge and real estate opportunities, check out Susan Gunnin’s web site at www.breck4sale.com.
A personal perspective
By Susan and Don Gunnin
We wake up in the morning, and through floor-to-vaulted-ceiling windows, view the sun touching the tips of the 12,000 foot above sea level mountain tops west across the valley. In the summer, the scene is of rock formations above treeline, and in the winter, it is of the purest white snow you’ve ever seen. In the evenings, the sunsets are like John Denver’s “fire in the sky”. The air is rarefied, both literally and figuratively, and our morning coffee seems to taste better because of it.
Breckenridge, the county seat of Summit County, is a community of about 3,200 permanent residents, snuggled in a valley culminating on the south end at Hoosier Pass on the Continental Divide about 85 miles west of Denver. On either side of the valley are 12-13,000 foot mountains, the west ones of which comprise the Breckenridge ski area, one of the most popular ski resorts in North America. During peak ski season, the population can grow to 35,000 people as skiers flock to town.
Living in this rarified atmosphere is like no place else on earth. All the winter activities associated with skiing, ice skating, sledding and throwing snow balls, are complimented by summer activities of hiking, camping, music and art festivals, biking, fishing, rafting, and simply observing the beauty of wild flower covered mountains beneath the cobalt blue skies characteristic of the Rockies. A common thought among locals is “we came here for the skiing, but summers are why we stay”.
The town of Breckenridge was not originally a ski area. Unlike most ski areas which were towns created as ski areas, Breckenridge began as a Victorian mining town back in the mid 1800s. By 1880, there were eighteen saloons and three dance halls on Main Street. Gold and silver mining kept the town prosperous until the early 1940s, after which Breckenridge suffered a ‘post boom’ recession and decline in population.
Referring to the snow, the era of “White Gold” began in 1961 when the Breckenridge Ski Area opened. By 1973, Eisenhower Tunnel was bored through the Continental Divide allowing traffic on what is now Interstate 70 to make the trip from Denver in about an hour and a half.
As far as real estate goes, more than 60 percent of the homes in Breckenridge are second homes for absentee owners, many of whom plan ultimately to retire to Breckenridge. Many of these homes offer short-term rentals for destination vacationers visiting Breckenridge. This creates an investment opportunity for many, and at least helps second home owners cover some or all of their mortgage payments with rental revenue.
This real estate market is pretty hot, with projections that total buildout (when all the land available for residential building has been developed) could happen in the next 10 or so years. When that happened in Aspen, real estate values went through the roof, so this is a great place to be a realtor today!
The biggest disadvantage to all the new construction is the fear of losing some of the old-fashioned, down-home historical character of the town. Although building codes and guidelines are in place to keep this loss to a minimum, the old Victorian town still can become a settlement of million dollar estates. Perhaps this is just the price of growth!
To learn more about Breckenridge and real estate opportunities, check out Susan Gunnin’s web site at www.breck4sale.com.
Thursday, October 20, 2005
2005 Year to date Market Analysis
This information is assembled from data provided by Land Title Guarantee Company in Breckenridge. This is year to date information through August, 2005.
SALES VOLUME UP 28%
In January, the dollar volume of sales was up 93%. In February, 15%, March 30%, April 22%, May 19%, June no change, July 37% and August 45%. Total YTD volume was $824,933,699 for 2005, compared to $642,626,700 for the same period in 2004. This represents an increase of 28%.
NUMBER OF TRANSACTIONS UP 19%
In January, the number of transactions was up 82%, In February, down 23%, March 24%, April 3%, May 6%, June 10%, July 41%, and August 37%. Total YTD number of transactions was 2,186 for 2005, compared to 1,838 for the same period in 2004. This represents an increase of 19%.
You can see that real estate activity in Breckenridge remains extremely strong. If you're thinking of making a purchase here, now could very well be the time.
For more information about the investment market in Breckenridge go to Susan Gunnin's main web site or her auxillary site, or email her.
SALES VOLUME UP 28%
In January, the dollar volume of sales was up 93%. In February, 15%, March 30%, April 22%, May 19%, June no change, July 37% and August 45%. Total YTD volume was $824,933,699 for 2005, compared to $642,626,700 for the same period in 2004. This represents an increase of 28%.
NUMBER OF TRANSACTIONS UP 19%
In January, the number of transactions was up 82%, In February, down 23%, March 24%, April 3%, May 6%, June 10%, July 41%, and August 37%. Total YTD number of transactions was 2,186 for 2005, compared to 1,838 for the same period in 2004. This represents an increase of 19%.
You can see that real estate activity in Breckenridge remains extremely strong. If you're thinking of making a purchase here, now could very well be the time.
For more information about the investment market in Breckenridge go to Susan Gunnin's main web site or her auxillary site, or email her.
Tuesday, October 18, 2005
Prices went through the roof
“Real estate values went through the roof”
This is a quote from an article entitled 'Summit County Buildout Looms' written by Kim Marquis for the Summit Daily News, April, 2004.
Following is a summary of that article.
In the quote above, Kim was citing what a county planner said happened to Aspen, Colorado once that town reached buildout. Buildout is achieved when all of the land zoned for development has been developed.
A buildout analysis by Summit County’s planning department projects, based on current growth rates, the county will reach residential buildout in less than 10 years. Summit County is currently 68.7 percent builtout for residential development. Based on building capacity absorption over the past 10 years, development will consume another 25 percent by the year 2011, and reach total buildout by 2013. In Summit County, buildout doesn’t mean “crowded”, since 70 percent of the county is national forest.
A local RE/MAX broker said that what happened in Aspen might occur here. This broker said “Property values have already been going up all through the 1990s, and redevelopment (when older homes are torn down and replaced with new ones) is happening already where the value of the land exceeds the value of the structure.”
Even if the growth rate slows, the county is likely to reach buildout in the next 20 years. In the 1970s, Summit County was the fastest growing county in the nation, growing at a rate of 232 percent. In the following decade, growth slowed to 45.6 percent, but in the 1990s, growth picked up to 99.5 percent, again one of the fastest growth rates in the country. At the current growth rate of 3.7 percent between 2000 and 2003 – a trend expected to continue – this decade will experience a growth rate of 26.3 percent.
Even though the permanent population is not expected to grow that fast, it is important to note that more than 60 percent of Summit County homes are owned as second homes for non-permanent residents – absentee owners – who intend eventually to retire to this pristine mountain community. Many of these owners purchase a property and make it available for short-term rentals to help defray some of the ownership costs until they are ready to retire. And even if they don’t ultimately retire here, property appreciation and possible tax advantages will make for a sound investment. A win-win situation!
New second home purchases may mirror or exceed the national growth rate – 5 percent per year – for such buying. According to the Bureau of Labor Statistics, there are six million second homes in the U. S. and Americans are currently spending 19 million dollars annually on them.
Given this information, if you have an investment horizon extending out 7, 10, 15 years,
NOW may very well be the time to think about investing in Summit County and Breckenridge. Susan Gunnin is an expert in resort real estate investment analysis. She can help you determine if investing in Summit County makes sense for you. Like most investments, the longer you wait, the more you may have to pay and the less will be your return. To take advantage of a unique opportunity, give Susan a call at 800-289-7005, or Email here, or visit her website. For more information about Breckenridge and Summit County, visit Susan's auxillary website.
This is a quote from an article entitled 'Summit County Buildout Looms' written by Kim Marquis for the Summit Daily News, April, 2004.
Following is a summary of that article.
In the quote above, Kim was citing what a county planner said happened to Aspen, Colorado once that town reached buildout. Buildout is achieved when all of the land zoned for development has been developed.
A buildout analysis by Summit County’s planning department projects, based on current growth rates, the county will reach residential buildout in less than 10 years. Summit County is currently 68.7 percent builtout for residential development. Based on building capacity absorption over the past 10 years, development will consume another 25 percent by the year 2011, and reach total buildout by 2013. In Summit County, buildout doesn’t mean “crowded”, since 70 percent of the county is national forest.
A local RE/MAX broker said that what happened in Aspen might occur here. This broker said “Property values have already been going up all through the 1990s, and redevelopment (when older homes are torn down and replaced with new ones) is happening already where the value of the land exceeds the value of the structure.”
Even if the growth rate slows, the county is likely to reach buildout in the next 20 years. In the 1970s, Summit County was the fastest growing county in the nation, growing at a rate of 232 percent. In the following decade, growth slowed to 45.6 percent, but in the 1990s, growth picked up to 99.5 percent, again one of the fastest growth rates in the country. At the current growth rate of 3.7 percent between 2000 and 2003 – a trend expected to continue – this decade will experience a growth rate of 26.3 percent.
Even though the permanent population is not expected to grow that fast, it is important to note that more than 60 percent of Summit County homes are owned as second homes for non-permanent residents – absentee owners – who intend eventually to retire to this pristine mountain community. Many of these owners purchase a property and make it available for short-term rentals to help defray some of the ownership costs until they are ready to retire. And even if they don’t ultimately retire here, property appreciation and possible tax advantages will make for a sound investment. A win-win situation!
New second home purchases may mirror or exceed the national growth rate – 5 percent per year – for such buying. According to the Bureau of Labor Statistics, there are six million second homes in the U. S. and Americans are currently spending 19 million dollars annually on them.
Given this information, if you have an investment horizon extending out 7, 10, 15 years,
NOW may very well be the time to think about investing in Summit County and Breckenridge. Susan Gunnin is an expert in resort real estate investment analysis. She can help you determine if investing in Summit County makes sense for you. Like most investments, the longer you wait, the more you may have to pay and the less will be your return. To take advantage of a unique opportunity, give Susan a call at 800-289-7005, or Email here, or visit her website. For more information about Breckenridge and Summit County, visit Susan's auxillary website.
For Investment, Breckenridge is hard to beat
Real estate sales run continues
This was the title of an article in the Summit Daily News on November 23, 2004. The subtitle said “Sales volume surpasses last year by 33 percent”.
A paraphrase of the article, written by Summit Daily News reporter Kim Marquis, goes on to state that the average per property selling price was up $24,000. Eric Degerberg, managing broker at RE/MAX Properties of the Summit, said that based on the RE/MAX business to date, the trend will continue. The number of October closings broke all monthly records. Vacant land – lot – sales soared 52 percent over last year.
According to Bonnie Smith Allen of Exclusive Mountain Retreats, more homes priced higher than $2 million sold than in any other year on record. Additionally, sixty-two homes priced at over $1 million have sold and another sixteen are under contract. Last year, fifty-nine such homes sold.
Susan Gunnin believes this is perfectly in line with an article reported earlier which stated that Breckenridge and Summit County are approaching “buildout”. As available property decreases, prices increase. According to Susan, “it’s simple supply and demand economics”.
If your investment portfolio needs real estate in it, Breckenridge is pretty tough to beat.
Visit Susan's web site to learn more.
This was the title of an article in the Summit Daily News on November 23, 2004. The subtitle said “Sales volume surpasses last year by 33 percent”.
A paraphrase of the article, written by Summit Daily News reporter Kim Marquis, goes on to state that the average per property selling price was up $24,000. Eric Degerberg, managing broker at RE/MAX Properties of the Summit, said that based on the RE/MAX business to date, the trend will continue. The number of October closings broke all monthly records. Vacant land – lot – sales soared 52 percent over last year.
According to Bonnie Smith Allen of Exclusive Mountain Retreats, more homes priced higher than $2 million sold than in any other year on record. Additionally, sixty-two homes priced at over $1 million have sold and another sixteen are under contract. Last year, fifty-nine such homes sold.
Susan Gunnin believes this is perfectly in line with an article reported earlier which stated that Breckenridge and Summit County are approaching “buildout”. As available property decreases, prices increase. According to Susan, “it’s simple supply and demand economics”.
If your investment portfolio needs real estate in it, Breckenridge is pretty tough to beat.
Visit Susan's web site to learn more.
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