Author: themoens

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Thinking About a Purchase in Breckenridge in 2024?

Why Breckenridge in the Summer?

First off, let’s talk about why summer in Breckenridge is an absolute gem. The snow may have melted, but the town blooms with life in a different yet equally magical way. Imagine lush green trails for hiking and biking, serene spots for fishing in the Blue River, and lively festivals that bring the streets to life. And let’s not forget the cooler temperatures—a blissful escape from the scorching heat elsewhere.

The Real Estate Market Awaits

Summer 2024 in Breckenridge is expected to be bustling. With the pandemic gradually becoming a thing of the past, more and more people are looking to either settle down or find their dream vacation home in the mountains. What does this mean for you? It’s time to act swiftly but wisely. Properties in Breckenridge, from cozy condos to luxurious mountain homes, tend to sell quickly due to the town’s popularity and limited space.

Tips for Your Purchase

Here are a few insider tips to guide you through your real estate journey in Breckenridge:

  • Start Early: The early bird gets the worm, or in this case, the dream home. Begin your search as soon as possible. The summer market can be competitive, and you want to be ready to make an offer when the right opportunity presents itself.
  • Know Your Priorities: What’s more important to you? Proximity to downtown, a stunning mountain view, or perhaps direct access to trails? Knowing your must-haves will help narrow down your search.
  • Budget Wisely: Breckenridge is a premium location, and prices reflect that. Ensure you have a clear budget in mind, and don’t forget to account for property taxes and maintenance costs, especially if you’re eyeing a second home.
  • Hire a Local Expert: A local real estate agent who knows the ins and outs of Breckenridge can be invaluable. They can provide insights into the market trends, help you navigate the buying process, and even uncover hidden gems. Did you know that Roger and Teresa Moen have 27 years experience in the Breckenridge real estate market?
  • Visit in Person: If possible, visit Breckenridge before making a purchase. Explore different neighborhoods, get a feel for the community, and maybe even meet some locals. It’s the best way to confirm that you’re making the right decision.

Embrace the Community

Buying a property in Breckenridge is more than just a real estate transaction; it’s joining a close-knit community. Summer is the perfect time to immerse yourself in local events, from the National Repertory Orchestra concerts to the Breckenridge Food and Wine Festival. Engaging with the community not only enriches your Breckenridge experience but also helps you feel at home.

Final Thoughts

Purchasing real estate in Breckenridge during the summer of 2024 is an exciting opportunity to own a piece of paradise. With its unbeatable combination of natural beauty, community spirit, and endless outdoor activities, Breckenridge offers more than just a home; it offers a lifestyle. So, gear up for this adventure with patience, research, and a bit of local guidance. Your dream home in the mountains awaits!

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Interest Rates for your mountain home

First off, Happy Holidays to all of our clients past, present and future!

We hope you are enjoying all this great snow. We are having a ball and you know what they say, “If you are lucky enough to live in the mountains you are are lucky enough” We try to never forget this and truly believe it.

According to Freddie Mac, the national average for a 30-year fixed rate mortgage as of December 14, 2023, dropped below 7% for the first time since August, currently around 6.95% which is still pretty cheap money. It is difficult to remember this as we are got pretty spoiled with those 3 and 4% interest rates we have seen for the last couple of years.  On Wednesday, Dec 13, 2023, the Federal Reserve announced that it would not be raising interest rates. YAHOO! This is good news!

Many believe that this means the Feds are halting the  twenty-one month crusade of interest rate hikes against rising inflation. That crusade saw 11 rate hikes since March 2022. The  Fed’s rate hikes affect borrowing and savings rates consumers experience on a daily basis. 

We’ll keep you posted.

How is the market in Summit County you ask?

Here are the reports comparing November of 2022 with November of 2023. For condos and townhomes in Summit County.

The number of Sold listings has dropped and the amount of time it takes to sell a property has risen which suggests the market is moving in favor of the Buyers based on just this one month of data. Contact us for a more complete analysis.

Scroll down for data for single family homes in this time period.

The chart below shows single family homes also comparing November 2022 to November 2023. The single family home market is slowing more than the condo/townhome market. This could possibly be because there are more condos/townhomes to choose from and typically the prices for single family homes are in a higher price point.