Here is the latest information on short term rentals [as of April 10th, 2023]. As you know this issue has been very fluid, shall we say, but this is the information you need right now to figure out what your needs are when purchasing a property.
• Is it investment, short term or long term?
• Is it mostly for family?
• Do you use it in the summer and want to rent it during ski season to get those big rentals?
What are the ramifications of these permits that are needed when you go to sell your property as it will have an impact on the buyer that is considering this purchase. Also, another thing to consider when purchasing your property is the cost of the permit itself as they are not transferable when sale occurs. This sounds overwhelming but that is where we come in as your Breckenridge realtors. Roger and I (The Moens) have been here for 26 years and our job is to help you navigate these issues with ease and help you to understand what exactly you are purchasing and the long term affects as well. Breckenridge real estate is so fun to own and we can help you with the dream, however we want you to go into it educated and have confidence about your purchase.
There is an online map available, showing the locations of all of the various zones: resort, and zones 1, 2 and 3. Contact us for details. 970.376.2038
The number of homes sold in Summit County is continuing to decrease each month but home prices are remaining at a record high, according to February real estate data.
The findings come as brokers have been predicting a slight shift in the housing market, eyeing a tilt toward buyers who they say may be more empowered to negotiate home prices amid a post-COVID market boom. But sellers are still nearly reaping their full asking price.
There were 19.3% fewer sales than a year prior, but that number is about 18% better than we did last month. The median sales price is up 20.4% over the same time last year. Another federal reserve rate hike could flatten our market again, but as for now, even with this upward trend, sellers are receiving about 97% of their list price.”The average home transaction in February for both single- and multi-family housing was $1,484,891,” according to our highest average Recently released from Land Title.
Many people are holding onto their homes as they have lower interest rates and want to keep those where they are. There seems to be indicators of the market going back to normal even with the interest rates increasing. Part of this is the time of year and also people’s fears. If the interest rates hit up to 6% that is still pretty cheap money. We just all got spoiled with those super low interest rates. So demand is there to purchase, and there are still buyers out there just less to choose from. This puts the market at a more equal playing field, so to speak, as it has been a buyers market for so long since COVID-19.
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