This question of whether or not to drop your listing price comes up often. Of course, everyone wants to get the best price possible for their home. We also know that if a house is priced too high, it signals to the market that a seller is not ready to sell and your house may be ignored by some potential buyers. So it’s important to know how to set the price…and know when to drop the listing price.

Pricing your home requires a specific formula, but a key factor is your competition – other properties listed nearby. For example, let’s say you are selling a 10-year-old post and beam home with 5 bedrooms and 5-1/2 baths. We would look at other similar homes that are currently on the market. You would assume that a potential buyer would see all other post and beam homes in that price range. You must think like a buyer. Buyers are always trying to get the most for their budget. Which one would you buy?

Secondly, we would also look at similar homes that have sold in the past year. This gives us an idea of the average length of time homes in this price range are on the market, as well as an average cost per square foot.

So now that you’ve set your listing price, how do you know when its time to drop the listing price?

Dropping your price on a house is a decision that clearly affects your net proceeds. When we take a listing we always tell our sellers to leave some room for negotiation, and plan on a couple of price reductions if needed. So always have that bottom line in your mind when you are pricing. Many times the sellers here in the mountains will just wait until the market reaches their asking price. Our resort real estate market in Breckenridge is not the same as a primary residence market, where you have to move by a certain date for a job change or children transferring schools etc.

You should also have an idea of how quickly you want to sell. Are you in a hurry to sell, or are you ok with carrying it a while longer? Can you continue paying the mortgage or taxes and any other ongoing obligations? These things should be into consideration when dropping the price also.

Keep in mind that when negotiating on a house, if you have reduced your listing price, the buyer will not see that as a negotiating concession that benefits them. A potential buyer is making an offer on the current price only (but their agent will likely share the listing history with them).

Signs That It’s Time To Drop Your Listing Price

One of the biggest indicators that a listing price is too high is feedback from other Realtors. If you are getting feedback after every showing that your home is priced too high, then we know that it is true. Of course, you will always get a few people saying this but if we are consistently getting this feedback, it’s important to pay attention to it.

Know that dropping your listing price is not uncommon. It doesn’t mean your home has a stigma or something is wrong and that is why it isn’t selling. While this may be the case in many areas, we are a seasonal resort market. We have a constant flow of buyers different times of the year and from different parts of the country, so it isn’t the same as when there is a fixed group of local buyers looking at a particular neighborhood and waiting for something to go on the market.

Another time you should think about dropping your listing price is if the homes around you or in the same basic price range are selling and yours is not.

The bottom line is: if dropping your price gets you to the next place you want to be, then it is the right thing. If you can hold on longer then at some point the market will rise (hopefully) to meet it.

Roger and Teresa have 22 years of experience selling properties in Summit County and have learned the ins and outs of pricing. They can walk with you through the process of choosing a listing price. Let this expert real estate team sell your home in Summit County and get you the best price possible.

In Breckenridge, we have a saying that we use to describe our area. “I came for the skiing, but I stayed for the summers.” Yes, Breckenridge is an international ski resort. That is what it is known for and has been for many years. And the skiing is some of the best in the world.

But in the past decade or so, we have also seen a huge influx of tourism descending upon us in the summer months. Everybody is catching on that the summer here in Breckenridge is outstanding!! We now have people that come to bike, hike, paddle board, camp, attend music festivals and parades, mountain bike, etc, etc. No longer is summer the slow season.

The Activities

The town of Breck puts on many activities that you and your family will love. GoBreck.com, the local tourism office, hosts arts festivals, beer and wine tasting events, concerts and two classical orchestras to name a few. The best place to find out what to do here in the summer is www.gobreck.com. They will list all the upcoming events.

We also have a new Backstage Theater with great live performances.

Family Adventure Park

Vail Resorts put $9,000,000 in to the family fun adventure park a couple of years ago. Vail did extensive research to substantiate their major renovations to Peak 8 for this park. This is good news for all property owners. There is much construction going on here in the Breckenridge summers. Lots of construction means a healthy market.

So Much To Do

The good news beside the fun to be had here in Breck: if you don’t find something you like, then you can go to Dillon for some free outdoor concerts on the lake or a great Farmer’s Market in the summer. Silverthorne, Keystone, and Frisco all have great activities. We sell properties in all of them!!

If you are a homeowner in Breck, or looking to buy in Breck, this is great news for your family to have all these activities to enjoy. If you are an investment-minded person, then the benefit to you is that a few years ago the summer rentals were minimal and if you made a few dollars that was a bonus. Now it is a substantial amount to add onto your yearly rental income. As the summer income builds, so does your repeat business on your investment property.

Breckenridge summers are a must-see. It is a whole different feeling. Give us a call to see what Breckenridge summers have to offer!

You can see it now: your serene mountain dream home, nestled among the trees and wildlife. You and your family speeding down the slopes. But before you buy a home in Breckenridge, there are things you should know. Living in the mountains can be peaceful and magical, but new challenges and difficulties can present themselves.

How to Buy your Breckenridge Property

If you are getting a loan to buy your home, there are a couple of options. You can purchase the home as a primary residence, a second home or an investment property. Each methods has its own programs. They will require different amounts down or different percentage rates etc. It is always best to speak to your lender and your accountant as each variable has different tax ramifications.

Choosing a Lender for Your Loan

We always suggest you use a local lender when buying a home in Breckenridge. There are enough lenders in Summit County to choose from and they have competitive rates. Many times buyers will find a lender online that offers them incredibly low rates or they get a lender that says yes to your loan without the knowledge and experience of the local resort town market. Remember, lenders are a commission-based business. For example, there are some condos that many lenders cannot loan on such as a condo/hotel. This is due to the difficulty selling the loan on an open market and often times the loan rate is higher. Using a local lender saves everyone involved potential disappointment and headaches.

Think About How You Will Use Your Mountain House

If you are buying a house in the mountains with a plan to rent it out short-term or long-term, you need to ask yourself if the numbers are of primary concern or is the emotional component. Is this a family dream cabin in the woods or a ski property for the family? Do you want to realize the highest return on investment? Your answers to these questions will be the deciding factor on where you are going to buy a home or condo.

When To Buy A Home

When you buy a home in the mountains, in a resort community, everything is driven by the seasons. Breckenridge is a ski town so the most inventory to choose from typically is in the summer – July and August. Many sellers have kept their property for the winter to ski one last time or if they are renting their property out they want those peak ski seasons rental income dollars. Many times they are preparing their property for the market on the off season, so summer is when the inventory tends to be the highest.

Consider the Time you Invest in Buying a House in Breckenridge

Are you going to rent out your property yourself? Do you have time to book reservations, keep up maintenance, etc, or do you need a rental company that is full service and just sends you a check every month with little to no involvement from you?

Secondly, decide when you buy, do you want a condo where the HOA handles so many of the items so you don’t have to, such as snow removal, hot tubs etc? If you buy a home there are options for hiring someone to come in and check on pipes and make sure they don’t freeze, do walk a through every week and keep and eye on things for you. There are many options for you to find one that works for you and your family.

We have been buying and selling homes for our clients in Breckenridge for over 22 years and can help you make the right decision for your family. Give us a call today to get the ball rolling to realize your dream of living in the mountains.

The best neighborhood to buy a vacation rental in Breckenridge is subjective. It depends on your priorities for the vacation rental.

You have heard location, location, location, in real estate? This applies when buying a vacation rental because there are various ways to use your rental property in Breckenridge. I typically see two kinds of people that buy vacation rentals. One is the “numbers person” where return on investment is priority. The second type of buyer is looking for the family cabin or home in Breckenridge that will appeal to their idea of a cabin in the woods. If, for example, you want to rent it out and the return on investment is the most important factor then you would want to purchase in town, close to the slopes. Ski-in ski-out is the ideal in this scenario. Potential vacation renters will want to walk to town, shop, and be close to the restaurants. They will want to get off the ski lift and to their home away from home as quick as possible. In-town properties offer excitement to skiers everywhere, lots of activities and fun to be had. If you are outside of town, for example in Blue River, which is an unincorporated bedroom community of Breckenridge, you will have a different experience. This area is more rural and tends to appeal to those that want a purchase an rental property but prefer the idea of really feeling like they are in the woods and to be able to hike or cross country ski and enjoy nature. When searching for a vacation investment property in Breckenridge, the further from town you are, typically the less amount of rentals you will get. So, again, here is the decision for most families.

There are a couple of other areas worth mentioning. If you want to buy a luxury vacation home in Breckenridge, the Highlands is another option. There are many different areas but most people think of this area as the gold course community. It is strictly regulated so that all the homes stay luxury homes. The Highlands are located just north of downtown Breckenridge. So golf a round, stop at the club for a drink or meal and walk back home. In the winter this area has a groomed course for cross country skiing.

If you are undecided or just want to know more about the neighborhoods in Breck that are best for vacation rentals, my clients find it helpful to come up for the day. We can tour the Breckenridge neighborhoods and look at the different areas that are options for you. Many times people have been coming here for years but are unaware of so many of the subdivisions and what their choices really are. There is so much to Breckenridge; let us share our gorgeous town with you.

When you’re buying a luxury home, you’re looking for perfection and that extra something special. What amenities should you expect when purchasing luxury homes in Breckenridge? If you’re thinking about selling a luxury home, what amenities should you consider adding to your property to maximize the sale price?

With 20 years experience in Breckenridge real estate market, we’ve learned a few things about luxury homes in Breck. Here are a few amenities that we know luxury buyers are looking for.

Location, Location, Location

In a beautiful mountain town like Breckenridge, the location and views are treasured commodities in themselves. What speaks to you? Do you picture yourself in a mountain-top retreat with snow-covered trees on all sides, a secluded valley home surrounded by wildflowers or perhaps a rustic ranch property with alpine prairie views? In Breckenridge and Summit County, you should expect to find national forest, lake-front properties or ski-in-ski-out access on the amenity list for luxury homes.

Architecture + Quality = Perfection

Expect one-of-a-kind design and quality craftsmanship for your Breckenridge luxury home. In Breckenridge, luxury homes often reflect the area’s natural beauty, but that doesn’t mean you have to embrace a rustic design. Top architects in the area can incorporate steel beams, premium flooring and custom woodwork with a modern flair.
Secondly, luxury homes use the natural beauty of the landscape to their advantage with large windows and spacious outdoor living.

Indoor/Outdoor Mountain Living

Stunning indoor and outdoor entertaining space is a must in a luxury mountain home. Go beyond a basic backyard grill with an outdoor kitchen with high-end appliances, a fire pit designed by local artists or an all-season water feature. Native plants and extra seating will round out your luxury yard.

Pamper Yourself – And Your Guests

What’s a luxury home or vacation retreat without a spectacular space to unwind and restore after enjoying everything the Breckenridge area has to offer? Custom baths in the master – and guest – suites in Breckenridge luxury homes may include huge steam showers, traditional or infra-red saunas, fireplaces at the foot of sunken tubs, and of course heated floors. Look for skylights and floor-to-ceiling windows in bathrooms to make the most of Colorado’s 300 days of sunshine and mountain views.

Lights, Camera, Luxury!

Popular features in luxury homes in Breckenridge include media rooms or in-home theaters with rows of plush seats for family and friends. Have fun with the décor in your dream home, whether you prefer an old-time Hollywood theme with curtains and a vintage popcorn machine or a more modern feel. Just don’t forget the snack bar! For homeowners and guests who imbibe, a custom wine bar or in-home pub is another must, especially on game days, snow days and family movie nights.

Whether you’re looking to buy or sell or just explore your options, The Moens are your local experts in the Breckenridge luxury home market. Reach out today to discuss buying or selling a luxury home in Breckenridge.

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.

Condo sales in Breckenridge have slowed down in 2016. The reason for this is a low inventory. The demand is still high.This is the lowest the inventory has been since 1998 and that is the farthest back I can go with my available data. So what we do have listed is selling in a matter of days if it is priced right. This graph shows that even though the number of sales are down, if you want to purchase an investment property, Breckenridge has the lion’s share of the county market. This is also why investors purchase in Breckenridge.

Summit County real estate is booming. Really booming.

In the beginning of this year, it was predicted that Summit County would receive and approve the same amount of building permits as they did in 2015. This prediction has already been proven inaccurate. In fact, the county has received many more permits this year.

Last April, the town of Silverthorne approved 25 new residential development permits—a huge jump from only six permits in April 2015!

People from all over the USA are coming to Summit County in droves. Some of them plan to live here all year round. Some are second homeowners. A few are real estate investors. Whatever their reason for being in Summit County, they’re buying homes in Summit County left and right.

In order to keep up with the demand for housing and real estate in Summit County, developers are snapping up land all over the area, mostly in the northern part of Silverthorne, and putting into motion new residential development projects faster than you can say, “Welcome to Summit County.”

Many of us Summit County locals aren’t happy with the construction boom in the area. Who could blame us? Construction vehicles and large pieces of construction equipment are everywhere. The roads have gotten a bit more crowded. Public places have gotten a little noisier. Summit County is changing, and we hear you loud and clear.

However, what if we told you that the rapid growth of Summit County is actually a great thing, especially for us locals?

It really is! Just hear us out.

With more people coming here, Summit County is making a lot of money in sales tax and excise taxes. To avoid getting bogged down in the details and numbers, let’s take a look at Silverthorne in particular:

• According to Summit County’s 2016 budget report, the county’s sales tax revenue was predicted to increase by 2% this year. However, by April, Silverthorne had already exceeded that goal. Its year-to-date sales taxes had risen by 2%. From January 2016 through April 2016, the town of Silverthorne alone brought in $3.16 million.
• Silverthorne is making a killing on its excise-tax collections. It went up 440.7% compared to April 2015 and 259% year-to-date compared to the previous year.

So what does this mean for us?

Better roads, nicer public facilities, cleaner parks, improved bike trails, and increased maintenance for other departmental services provided by the county.

Two percent of all sales taxes across Summit County go toward these programs and services. In addition to that, up to 2.5% of the sales taxes go to their respective towns. The percentage depends on the town. For example, Silverthorne takes 2%.

Just when we’re starting to think that Summit County couldn’t get any nicer, an opportunity arises for it to do so. Do you have any ideas on how Summit County should spend its newfound money? Let us know!

Well the numbers don’t deceive! After a crazy busy summer, we’ve got some numbers that show steady increases in the Breckenridge real estate market. The average cost of a home in Breckenridge has risen 9% and the number of homes sold is up a whopping 15%! We are very excited to see these positive trends.

2013 and 2014 also saw steady increases. We are regularly seeing homes sold for great prices, bidding wars and houses selling without even going on the market.

If you are considering selling your home in Breckenridge, now is a great time to do so! Give us a call to get the ball rolling on selling your Breckenridge property!

See more detailed residential real estate stats here.

Beginning November 22, Blue River will now be accessible via the Summit Stage!

Up till now, Blue River has been so close yet so far. Despite being just a 5 minute drive from Main Street Breckenridge, Blue River real estate has been inaccessible for many prospective renters and ski lovers. It’s difficult to have a rental property without bus service. Renters were forced to rely on expensive taxis or dangerous hitch hiking.

Summit Stage changes everything. With bus access, Blue River is now just a short jog from the ski resort for locals and tourists alike!

We’ve always loved Blue River properties for their atmosphere. With higher than average snowfall, gorgeous forestry, and of course the river going through it – all at a short drive from Breckenridge- Blue River homes have retained their rustic mountain feel. And is if that wasn’t enough, a moose family of 4 visits the Goose Pasture Tarn every day! (We’re starting to wonder if someone hired a moose family to add charm to the area.)

We’re interested to see how this changes the Blue River real estate market but we expect it to be a big positive change for the housing market for Blue River. This can only add value to the homes in the area.

Blue River Township has released a newsletter with the bus stops, rules, parking regulations and the like. The service will include 2 buses in the morning heading into Breckenridge and two return trips in the evening. There will be bus stops along both sides of the highway. The town requests that riders be ready to board when the bus arrives to limit time needed to pick up passengers and minimize traffic blockage. They also request that riders do not try and cross the highway, but use the closest stop on their side of the street.

Additional Resources

• Learn more about Blue River
• Search for Homes for Sale in Blue River
• Blue River News October 2015
• Article in the Summit Stage about the Summit Stage expansion