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How to Determine What Your Home is Worth

what is my home worth

Thinking about selling your house? Wondering if you should question your property tax assessment? Just curious about the current value of one of your biggest investments? According to a recent poll conducted by NerdWallet, nearly three-quarters of Americans say knowing the value of their home is important to understanding their overall financial health.

There are a number of reasons to look into how much your home is worth and quite a few ways to track down that information. Here are some tips!

Start Online

If you’re looking for a general estimate of what your home is worth, an online home valuation service may be a good place to start. You can also get an instant online estimate of your home price through our RE/MAX website. Other websites like Zillow and Trulia take into account information you provide as well as public records to approximate your home’s current market value. These services are fast and usually free, although not as accurate.

Check Out the Neighbors

home valuation

Recent sales and current listings in your area are a strong indicator of what you could sell your home for, and there are several ways to find that information. Again, the Internet is a good place to start. To look up sale prices for specific properties in Breckenridge, try Real Estate ABC or Summit County Assessor’s website. While less scientific, going to open houses, or events like the Summit County Parade of Homes, can also help you get an idea of the local housing market. Keep in mind that past sales should carry more weight than current sale prices.

Call a Real Estate Agent

If you’re serious about selling your home, a professional local real estate agent can help you more accurately estimate the current market value of your home. He or she will compare your home to similar properties – carefully considering factors like square footage, age, amenities, upgrades, condition and location – and help assign value to what makes your home unique. First-hand knowledge of the local market and assessing your home in person will provide a more accurate valuation than the Internet.

Hire an Appraiser

Like a real estate agent, a licensed appraiser will visit your home and closely inspect the property to assess the market value. An appraiser will evaluate the local real estate market, your property and comparable properties and provide an official report. Banks require an appraisal as part of the mortgage process, but you can hire an appraiser at any time. The average cost of an appraisal for a single-family home is $300-$500.

If you have questions about how to determine the value of your home in Breckenridge or have other real estate questions, contact The Moen Team. We are here to help!

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What Do Breck’s New Short-Term Rental Regulations Mean for Vacation Rental Property Owners

regulations for short term rentals in Breck

As the short-term rental market has boomed in recent years, rules and regulations to oversee the industry have not necessarily kept up. The Breckenridge Town Council recently passed new rules to try to balance the interests of rental owners with the concerns of neighbors who live near these properties.

What’s Changing?

The Town of Breckenridge approved a new fee structure for licensing short-term rentals (an annual fee of $25 – $150 based on the number of bedrooms) and a new process for inspections (the town will try to reach owners before inspections unless it’s an emergency). However, a new 24-hotline to report complaints is drawing the most attention from owners.

Who You Gonna Call?

When a complaint is called in, the hotline will contact the “designated agent” listed on the rental license, who will have one hour to resolve the problem. The agent doesn’t need to be the owner or a property management company – a friend, family member or neighbor can serve as an agent, but must be available 24 hours a day, 7 days a week to respond to complaints.

Mixed Reaction to the New Rules

The new rules are intended to be less restrictive than measures in similar resort communities, which is good news for vacation rental owners in Breckenridge. Vail, for example, requires a response within 30 minutes of calls to the complaint hotline. Owners who manage their own short-term rental properties or use a property management company are worried about the burden of responding to complaints within one hour, especially if the call may come in the middle of the night or require a visit to the rental unit.

An Ounce of Prevention

Breckenridge short term vacation rentals regulations

There are things you can do to try to avoid trouble with the new rules. Parking, noise and trash are the most common complaints concerning short-term rental units in mountain communities like Breckenridge. Try to head trouble off at the pass by including your neighborhood rules in your marketing materials and rental agreements and remind guests of the rules when they arrive. Post a friendly reminder near your trash cans about being careful with garbage – think bears! – and ask guests to keep the volume down so everyone – visitors and neighbors – can enjoy everything Breckenridge has to offer.

If you’re looking for a vacation home or investment property in Breckenridge or have questions about the latest trends and topics in our real estate community, please contact The Moen Team. Secondly, follow us on Facebook, Twitter and Instagram to see the latest news.

We’re here to help!

To read the new rules and regulations from the Breckenridge Town Council, go to: https://www.townofbreckenridge.com/home/showdocument?id=16079.

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Homes for Heroes

We all have a cause that is dear to us. Ours is a program call “Homes for Heroes.” I received a call from a realtor in Denver. She asked me if I was interested in participating with this program by working with a man that was trying to sell his property here in Summit County. She did not want anything in return but simply wanted to make sure this client was taken care of and would receive all the benefits that I had to offer as a real estate agent. I knew immediately I needed to be a part of this so I joined. Our heroes are extraordinary people and they deserve all that we can offer. I can’t wait to meet my next client!

Since 2009, Homes for Heroes, Inc., has helped over 23,000 heroes save over $37 million on their real estate transactions, sold over $4 billion in real estate to heroes, actively partnered with 2,200 like-minded real estate and mortgage professionals who’ve joined in the mission, and donated over $500,000 to heroes in need through the Homes for Heroes Foundation.

Homes for Heroes, Inc. is the largest nationwide network of affiliate real estate, mortgage, and local business specialists; committed to providing easy ways for heroes to save on a home. Shortly after 9/11, Homes for Heroes, Inc. was established to give back to firefighters, EMS, law enforcement, military (active, reserves & veterans), healthcare professionals and teachers for all they do.