NEW LISTING – single home in Breckenridge with a great floor plan – $725K

*Priced To Sell!*Lovely 4 Bedroom Home in Breckenridge, Colorado – Great Open Floor Plan, Main Level Master, South Facing Deck, Hardwood Floors, Hot Tub Room, State Of The Art Media Room, Bonus Room for Den/Office/Gym, Large Bedrooms, Walk In Closets *Rare 3 Car Garage *Open Kitchen With Double Oven, Granite Tile Countertops And Kitchen Island *Sunny Lot With Mountain Views!*Great Summit County Location Near Golf Course*

Housing crisis near end? Are you optimistic?

9 News report from yesterday revealed that current inventory in Metro Denver is down 42% from a year ago. Down as much as 60% in Park Hill area, but up 25% in Downtown. Median prices are flat with last year. Read more / Source - 9 News

Fannie Mae’s National Housing Survey from February reveals Americans’ concerns over housing and the economy are subsiding. The survey found that 28% of Americans expect home prices to increase over the next 12 months, while 53% say prices will likely stay the same, 15% say they expect home prices to decline. 65% of those surveyed say that if they were going to move they’d buy their next home, while 29% say they would rent. An improving job market is a big part of what’s behind Americans feeling more confident about the housing market and the direction of the economy, according to the survey. Read more / Source – Realtor.org.

Across the nation pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.0% to 97.0 in January from a downwardly revised 95.1 in December and is 8% higher than January 2011 when it was 89.8. The data reflects contracts but not closings. The January index is the highest since April 2010 when it reached 111.3 as buyers were rushing to take advantage of the home buyer tax credit. Lawrence Yun, NAR chief economist, said this is a hopeful indicator going into the spring home-buying season. “Given more favorable housing market conditions, the trend in contract activity implies we are on track for a more meaningful sales gain this year. With a sustained downtrend in unsold inventory, this would bring about a broad price stabilization or even modest national price growth, of course with local variations.” The PHSI in the Northeast rose 7.6% to 78.2 in January and is 9.8 % above a year ago. In the Midwest the index declined 3.8 % to 88.1 but is 10.8% higher than January 2011. Pending home sales in the South increased 7.7% to an index of 109.1 in January and are 10.5% above a year ago. In the West the index fell 4.4 % in January to 101.9 but is 0.7 % above January 2011. “Movements in the index have been uneven, reflecting the headwinds of tight credit, but job gains, high affordability and rising rents are hopefully pushing the market into what appears to be a sustained housing recovery,” Yun said. “If and when credit availability conditions return to normal, home sales will likely get a 15 % boost, speed up the home-price recovery, and thereby significantly reduce the number of homeowners who are underwater.

Earlier this month Denver Post reported that metro Denver housing market has been making quite a recovery in February with sales up and inventory levels down – unsold homes on the market dropped sharply, with the current inventory at 10,086, a drop of 41.9% from February 2011. Properties under contract for sale totaled 4,150 in February, up 12.4% from the same month in 2011. Driving the market is a surge in the number of first-time buyers and move-up buyers targeting lower-priced homes. Among single-family home sales in February, 43% were properties that sold for less than $200,000. For condo sales, 62% were priced at less than $150,000. Read more / Source – Denver Post .

NEW LISTING – Copper Mountain – lowest price in the building!

*LOWEST Priced 3 Bedroom Share In Copper’s Finest Building * This Two Story 3bd/3ba Has A Balcony With Great Views Of The Courtyard And Ski Area * Enjoy The TWO Heated Outdoor Pools Or Hot Tub, Then Relax In Front Of The Gas Fire Pit Or In The Media Room * This Condo Has TWO Master Suites * All Cirque Amenities Including Parking Are Available To The Owners Throughout The Year, Even If It’s Not Your Week! * Property Exchange Opportunities Through www.Resort2Resort.com.* At $168K This Is A BARGAIN BUY! *

Summit County Real Estate – sales are down 4% year-to-date

Year to date real estate sales in Summit County are down 4% (note that at this same time 2011 sales were up 23% compared to 2010’s). Positive news – our current number of residential listings that are under contract is up just under 3% over last year, so it is possible that after  these sales become actual sold listings we will break even with last year’s numbers.

While the county is down in the total number of residential sales so far this year the North Side of the county is up 22%; which is great for the North Side of the county. Unfortunately the South Side is down 30%. This will be another interesting aspect of our local market to follow and gage whether a balancing out will occur or a trend is in the process.

Current inventory of 1187  residential listings with average list price of $729,640 includes 434 single family homes/duplexes, 616 condos and 126  townhomes.

Denver Real Estate market in the news – February 2012 update

Denver real estate market has certainly been making news recently. Today’s article in The Denver Post talks about it’s robust downtown that will attract the key demographic group — professionals ages 25 to 34 — that is essential to a thriving regional economy.

The subject was discussed this morning at the Downtown Denver Partnership Inc.’s Urban Leadership Symposium, attended by 350 business and civic leaders from throughout the Rocky Mountain region.

“The attractiveness of the west is at the top of almost every young person’s list,” said Gov. John Hickenlooper. “People are coming from every corner of the United States to the west.”

College-educated professionals ages 25 to 34 are 110% more likely to live in close-in neighborhoods than they were in 1980, said Carol Coletta, director of ArtPlace, a collaboration of national foundations and the National Endowment for the Arts to accelerate creative placemaking across the country.

“We can no longer treat urban living as an alternative lifestyle,” Coletta said. “If the city doesn’t work, then the region doesn’t work, and if the region doesn’t work the state doesn’t work. You can’t have a successful city without a successful heart — a successful downtown.”

One of downtown’s biggest boosters, Tami Door of Downtown Denver Partnership, said economic development is more than creating jobs in the heart of the city. “It’s about creating jobs in the region,” Door said. “But it comes back to where employees want to live.”

Source:Vibrant downtown Denver called key to region’s thriving – The Denver Posthttp://www.denverpost.com/business/ci_19974908#ixzz1ma0TPiG5

Among future developments in Downtown Denver are  a 242-unit apartment building in Denver’s Riverfront Park neighborhood (planned to be build by a Chicago-based developer); an 18-story tower, which will include street-level retail, to the west of Union Station (planned by Vancouver, Wash.-based Holland Partners); recently announced $60 million apartment project at 17th and Chestnut streets (by Denver developer David Zucker) and  a 307-unit apartment project at 20th and Chestnut (by Randy Nichols, he’s talking with King Soopers and Safeway about opening a 43,000-square-foot grocery store in the project).

“One thing we know for sure is that 25- to 35-year-olds nationally are making major movements into urban centers, and they’re desiring to live within 3 miles of an authentic urban city,” said Tami Door, president and chief executive of Downtown Denver Partnership. “Denver’s growth is exponential in attracting that particular age group. There also is a trend that more people are choosing to rent rather than buy. It gives them great freedom.”

Chris Cowan, senior land associate at ARA Colorado, estimates that up to 2,600 apartment units will be delivered in metro Denver next year; about 4,000 in 2013; and up to 6,000 in 2016. But even with all the new projects being built, Cowan expects the apartment market to remain strong. About 4,500 units are absorbed each year, he said. “We’ve had a limited to no pipeline over the last two or three years,” he said.

ARA has recently closed three other land deals that were in the works about a year ago, said Steve O’Dell, ARA Colorado principal and Cowan’s partner in the transaction. He expects to close several more in the first quarter next year.

Source: 242-unit apartment project planned near downtown Denver – The Denver Post http://www.denverpost.com/business/ci_19636040#ixzz1ma3SnsI9

Late last year a segment on FOX NEWS has indicated that Denver’s real estate market was one of the hottest in the nation to invest in. I think 2012 is going to be great for Denver real estate!

Condominium sales in Summit County up 15% – 2011 in review

Condominium sales in Summit County, Colorado in 2011 were up 15%  - 532 sales in 2011 vs. 484 in 2010. Average sold price of a condo in Summit County in 2011 was $340,438 – down 5% from 2010.

Interesting that Breckenridge witnessed an increase in sales of 38% and an increase in average sold price of 12%!  Currently 221 condominiums are listed for sale in Breckenridge priced between $84,000 and $2,275,000, (average list price of $513,776).

Dillon also was up 27% in sales and up in average sold price by 4%.  Today 29 condominiums are for sale in Dillon priced from $88,900 to $895,000 (average list price of $308,459).

Copper Mountain was flat in sales and down 13% in price in 2011. Currently 100 units are listed for sale  in Copper Mountain starting at $152,000 and up to $1,419,000 (average price of $393,878).

Keystone was down 12% in number of sales and down 8% in average sold price.  Today 156 condos are listed for sale in Keystone between $118,900 and $1,395,000 (average list price of $353,900).

The town of Frisco was up by an additional 5 condo sales and Frisco’s prices remained flat. 43 condos are for sale in Frisco today from $159,900 to $899,950 (average list price of 405,123). It is worth noting that rare lakefront and water front properties are available for sale at this time – ask me for details!

New listing – 2 bedroom ski condo at The Cirque, Copper Mountain

I’ve got a new partial ownership opportunity listing at the Cirque at Copper Mountain – this one is priced to sell fast for sure – $118K!

Ground floor 2bedroom/2baths ski condo with walk out access to the adult/kids pool and 21 person hot tub. South facing home with panoramic views of ski slopes and plenty of sunshine all day. Enjoy 1 week per month and day use 365 days a year in Copper Mountain’s only platinum lodge. Small boutique-style lodge with only 37 suites, family-friendly!

Great affordable option to own a ski condo in Copper Mountain – use it yourself, rent out or exchange – go to www.Resort2Resort.com – many options for property exchange around the world!