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  • Nationally, people are snatching up vacation homes. And many are paying with cash

    If you want guidance on an investment purchase, we’re here to help.

    It’s not just puppies and sourdough starter. Another thing that spiked during the pandemic: the purchase of vacation homes.

    Housing markets across the country heated up during the COVID-19 pandemic, but demand for vacation homes, including in Colorado, sizzled, according to a new study from the National Association of Realtors. Remote workers who were able to log on from anywhere snapped up homes in vacation areas, sending seasonal home purchases skyrocketing last year. Vacation home sales rose by 16% in 2020 from the year before, outpacing overall growth in existing-home sales last year which was 5.6%, according to a report from the National Association of Realtors. And the trend has continued into this year with sales already up 33% through April over last year.
    “Vacation homes are a hot commodity at the moment,” said Lawrence Yun, NAR’s chief economist. “With many businesses and employers still extending an option to work remotely to workers, vacation housing and second homes will remain a popular choice among buyers.”
    While the pandemic all but shut down home sales in March and April of last year, the market made a sharp rebound in the second half of 2020, making it the hottest year for real estate since 2006. But the market was even hotter in counties considered second-home destinations, according to the report.
    Prices in vacation home counties rose at a faster pace than in non-vacation home counties in 2020, largely because of the low inventory and strong demand. The median existing home sales price typically rose by 14% in vacation home counties, compared to 10% in non-vacation home counties last year.
    But apparently buyers were prepared — with cash. People buying vacation homes were more likely to pay cash. While all-cash sales are increasing throughout the residential market, over half of all seasonal purchases this year though April were all cash, compared to 22% of all existing home sales over the same period.
    “Realtors all over the country have indicated that buyers in a position to pay in all cash are doing just that,” said Yun. “From a seller’s perspective, paying in this manner makes for a much more attractive offer given the strong demand right now for vacation homes.”
    These markets still tend to be incredibly competitive amid record low inventory nationally. As of April, the inventory of available homes was down 21% from a year ago, which is equivalent to just 2.2 months of supply given the monthly pace of demand. A balanced market needs six months of supply.
    [Some excerpts by By Anna Bahney, CNN]

  • Real Estate Trends May 2021

    Are you interested in Market Trends for Summit County? Here is the latest on Townhomes, Condos and Single Family Homes from May 2021. Do you want more information? We are here to help!

     

  • 100 Must-Dos in Breckenridge

    You’ll often hear, “I came for the winter but stayed for the summer.” Sure, Breckenridge is home to a world-class ski resort, but summer is becoming more popular than ever in the mountains- and for good reason! We’re a unique town with character and a fascinating history; pair that with 300+ days of sunshine and endless activities and events, and you’ve got the trip of a lifetime. Plus, the temperatures never get too hot, making it the perfect place to escape the summer heat hitting the rest of the country June, July and August. With hiking, mountain biking, fly-fishing, apline coasters and more, it’s safe to say the whole crew will have a blast. Start planning your itinerary to be sure not to miss the best 100 things to do in Breckenridge this summer!

    100 Things to do this Summer:

    1. Eat and shop along historic Main Street- don’t forget to BYOB (Bring Your Own shopping Bag).

    2. Catch the sunset from the best views in Breckenridge.

    3. Get your week’s worth of veggies and check out craft vendors at the Sunday Farmer’s Market at the Main Street Station.

    4. Stroll along Main Street while sipping wine at the Breckenridge Wine Classic [Sept. 16-19, 2021].

    5. See the wildflowers in full bloom.

    6. Tour the world’s highest distillery then stick around to sample award-winning burbon.

    7. Take a guided fly fishing tour and explore Breckenridge’s rivers.

    8. Play a round (or two) at the world’s only town-owned 27-hole Jack Nicolaus designed golf course.

    9. Take a guided history tour to learn about Breckenridge’s local mining past.

    10. Join the largest street party in the Rocky Mountains at Oktoberfest. [Sept. 24-26, 2021]

    Grab a brew (or a few) at this year’s Oktoberfest weekend party!

    11. Hit the trails on an ATV tour.

    12. Grab some steamy churros at Mimi & Pin.

    13. Stroll through Breckenridge’s art festivals throughout the summer.

    14. Put on a swimsuit and enjoy a pool with a view.

    15. Hit the Rec Center for indoor rock climbing or water slide.

    16. Provide a helping hand in the upkeep of fragile habitats, open spaces, and trail systems by volunteering with The Friends of Breckenridge Trails.

    17. Watch as fall leaves start to change colors mid-September (Breckenridge is the first in the nation to see leaves change).

    18. Climb a lesser-known 12er or 13er to escape the 14er crowds.  Choose from mountains such as Peak 9, Crystal Peak, Wheeler Mountain, Peak 10, Pacific Peak, and more.

    19. Catch a pop-up concert from Breck Music AirStage – a 1975 Airstream converted into a mobile concert venue.

    20. Hike or bike our 100s of miles of trails in and around Breckenridge and remember to “Leave No Trace” 

    21. Watch a play at the Breckenridge Backstage Theater.

    22.  Solve a mystery at one of Breckenridge’s escape rooms.  Views themes at  Escape Room at Mountain Time Escape Room and Escape Room Breckenridge.

    23. Saddle-up for year-round horseback riding.

    24. Take a tour of the historic Country Boy Mine.

    25. Ice-skate year-round during open skate at the Stephen C. West Ice Arena.

    26. Get arts and crafts delivered to your door with Frosted Flamingo.

    27. Learn a new skill from local makers in the town’s award-winning arts district. Try hands-on workshops like metalsmithing, welding, or jewelry making.

    28. Find your zen in a yoga class.

    29. Take a self-guided tour of Breckenridge’s Public Art Collection.

    30. Rent bikes and cruise around town or on the Blue River Rec Path.

    Family biking in Breckenridge summer
    Soak up some rays and see Breckenridge by bike!

    31. Tour the town on a saloon, history or ghost tour.

    32.  Support your favorite small businesses by leaving a Google Review. ⭐⭐⭐⭐⭐

    33.  Dine el fresco in the Blue River Plaza.

    34. Enjoy a date night at a romantic restaurant.

    35. Warm-up during the evening next to one of the in-town fire pits.

    36. Get a bird’s eye view of the Rocky Mountains via Hot Air Balloon.

    37. Grab a drink or two and hit the town at one of Breckenridge’s 100+ bars and restaurants

    38.  Visit Peak A Boo Toys to stock up on retro toys, candy and even start a family game-night tradition!

    39. Erase tension and relax with a spa day, massage or facial.

    40. Have a picnic at the Riverwalk Center, Carter Park or along the Blue River. Just be sure to pack up anything you brought you.

    The Blue River flowing through downtown Breckenridge.
    The Blue River flowing through downtown Breckenridge.

    41. Walk, bike or take the Breck FreeRide to see Isak Heartstone (The Troll) at his new home in Illinois Creek (trail conditions permitting).

    42. Watch the big game at our great sports bars around town.

    43. Have the Mayor serve you a beer at Downstairs at Eric’s.

    44. Tour the town on a scavenger hunt available at the Breckenridge Welcome Center.

    45. Get acclimated at the O2 Lounge or VidaFlo.

    46. Re-live the mining days by signing up for a gold panning lesson or a historic mining tour.

    47. Indulge in a sweet or savory crepe.

    48. Take a piece of Breckenridge home with you by picking a souvenir that was made in town.

    49. Take your pup to the Breckenridge Dog Park at Carter Park.

    50. Try the Gold Runner Coaster, Alpine Slide and more at Epic Discovery park at Breckenridge Ski Resort.

    Gold Runner alpine coaster summer
    The Gold Runner alpine coaster is open year round!

    51. Taste your way through Breckenridge by sampling the best ice creams around town while you window shop.

    52. Soak in the hot tub or pool with a view.

    53. Purchase a rubber duck in support of the Summit Foundation for the annual Great Rubber Duck Race, Labor Day weekend [TBD for 2021. Sign-up for event updates]

    54. Taste or make your own wine at the Continental Divide Winery.

    55. Get trip suggestions at the Breckenridge Welcome Center then tour the museum.

    56. Snag some great happy-hour deals on one of many sun-soaked patios.

    57. Take a bike ride through history with Colorado Adventure Guides.

    58. Get views from above on the free Breck-Connect Gondola.

    59. Feed the giant trout surrounding Ollies on the Dredge.

    60. Try stand-up paddleboard (SUP) yoga on the Maggie Pond.

    Test your balance with SUP yoga on the Maggie Pond this summer.

    61. Mush with a pack of huskies on a summer dog sledding tour.

    62. Visit the Edwin Carter Discovery Center for 19th century environmentalism and hands-on taxidermy.

    63. Grab the kids to swing and slide at one of many parks around town.

    64. Taste the 38+ beers on tap and play a round of horseshoes at Kenosha Steakhouse.

    65. View old mining cabins and materials on a Gold Mine Tour at Lomax Placer Mine – you can pan for gold too.

    66. Press your pennies at the penny press at Skinny Winters.

    67. Try Breckenridge-made beers at the local Breweries.

    68. Take a summer Fat Bike Brewery and Distillery tour.

    69. Discover Breckenridge’s newest restaurants.

    70. Indulge in a leisurely breakfast then post up for a mid-day nap.

    71. Throw a snowball and play in the snow on Peak 8 at the top of the gondola- this summer snow pile is made of the 300+ inches of snow the ski resort receives annually.

    72. Take a selfie at the Ski Hill Scenic Overlook.

    73. Visit the old train Engine No. 9 on your way up Boreas Pass Road.

    74. Catch some rays and relax at one of Breckenridge’s best outdoor pools.

    75. Skateboard at the Rec Center’s newly remodeled skate park.

    76. Volunteer with Friends of Breckenridge Trails to help the upkeep of the fragile habitats, open spaces and trail systems around Breckenridge. 

    77. Kayak or paddleboard on nearby Lake Dillon Reservoir.

    78. Catch a concert at the Riverwalk Center.

    79. See if you can spot wildlife like mountain goats and moose (from a safe distance).

    80. Head up Boreas Pass Rd. to the trailhead and take in views of the Ten Mile range.

    Boreas Pass Summer
    Hike or drive along Boreas Pass Rd. to get amazing views of Breckenridge Ski Resort in the Summer.

    81. Take a cooking class at Colorado Mountain College.

    82. Dine or dance at the oldest bar in Breckenridge, the Gold Pan Saloon.

    83. Catch local live music, play yard games and watch skis get pressed, all while sipping a craft brew or cocktail at Rocky Mountain Underground (RMU).

    84. Test your singing skills at karaoke.

    85. Snag some great deals on ski gear during the summer.

    86. Ride the free Trolley down Main Street.

    87. Caffeinate and stock up on baked goods at one of our locally-owned coffee shops.

    88. Check out the old historic homes on French and Ridge Street.

    89. Play a round of bags/corn hole and roast marshmallows for s’mores at Motherloaded Tavern.

    90. Cool off and hit some rapids on a rafting trip with the whole family.

    Summer group rafting in the Blue River in Breckenridge
    Raft the Blue River or nearby Brown’s Canyon and Clear Creek.

    91.  Ride down Vail Pass with bike rentals and shuttle from a local rental company.

    92.  Learn to rock climb with Colorado Adventure Guides.

    93.  Take a guided hike to a ghost town with Breckenridge Heritage Alliance.

    94. Register for a Yoga on the Lawn class with BHAVA Studio.

    95.  Engage your imagination at Summer Reading Program at the Library.

    96.  Get creative Outdoors @ the Art District.

    97.  Catch a movie on the big screen at our pop-up drive-in theatre.

    98.  Lace up your running shoes and hit the trails with Peak Running’s Run Club.

    99. Watch at NRO Summer Concert at the Riverwalk Center.

    100.  Check our community calendar to drop into a weekly class, tour or workshop to learn a new skill during your trip.

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