Here is an update on what is going on here in Breckenridge.
First, for my Buyers out there:
These bullets below are all examples of how very different the real estate market is, in Breckenridge right now. It is a very strong buyer’s market, with so many properties to choose from. Today there are 388 homes on the market and 429 condos – both much higher than usual. You are in the driver’s seat for the first time in a very long time!
- You need to stay in constant contact and watch the market updates and activities that I send so you will know when a great deal comes along. I can send you automatic listing updates. Knowledge is power.
- Make sure you know of the recent interest rates – they are still near historic lows.
- Don’t forget the $8,000 tax credit being offered if you are a first time buyer (or you haven’t owned a home in several years)
- Buyers have been picking their top 3 choices, and I call to interview the listing broker to see which seller is the most motivated. This insures you the best deal.
- In some cases, offers are being presented verbally and once all parties agree to the terms then contracts are being written and signed.
- Buyers are going to more open houses (there are a ton) so that you can be aware of what is available
- If you are looking at properties in a particular price range, bump up your price range, because properties are selling for less than usual, as a percentage of listing price. You might be able to get into a nicer condo or home than you think you can!
- Get pre-qualified before you start looking at homes, as the lending community is much more particular and requires more information than they have in the past.
- Feel terribly lucky to have such a great realtor. Just threw that in for fun! 😉
Next time, look for information for my Sellers! We aim to inform and please!
Teresa and Roger Moen
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