Real Estate Articles

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Second home vrs. investment property? What to consider.

Investment vrs second homeMost Buyers at some point reach a difficult real estate crossroads: Do they renovate an existing home to fit their current needs, or do they go out and buy another house that’s already the way they like it?

This is a question with no one-size-fits-all answer.

The most important issue is location. Are you buying a ski in ski out property for rentals or do you want something you and the family can enjoy as well? Or maybe you want a cabin in a more rural area of Breckenridge.

The second major question is budget: Is it more economical to renovate your new purchase or buy another one? The answer to this question will depend upon your desires, your budget and your needs. Many buyers tell me they want an older property so they can renovate. Before you do this, consider trying to do this if you live out of state. Many families can make this work and enjoy it. Also consider the higher cost of supplies and labor in the mountains.

After considering all this if you still want an older property, start with your list in hand. Consult with a realtor or builder. A realtor can discuss re-sale issues with you and a builder can tell you about pricing and timing.

With over 15 years in the Breckenridge real estate market, we do have a great team of people to refer you to. We are also happy to answer any questions you might have if this is an idea you are considering. Click the blue/gray “Live Chat” button above or click here to send us an email.

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What to look for in a real estate agent when buying your Breckenridge Mountain Home!

Finding a real estate agent in Breckenridge CO

Are you thinking of buying a vacation home in Breckenridge? Considering buying a ski in ski out property? Dreading walking through the homes of strangers and the long paperwork? Hiring a professional real estate agent can take away many of the challenges of buying a home in Breckenridge. Just like a doctor or accountant, a real estate agent is worth more than the commission they charge. We believe we are those kinds of agents.

In order to find a good real estate agent in Breckenridge, you must be able to distinguish the average agent from the great ones. These are some of the things we promise you:

1. Tell the truth about the price

Too many agents just take your offer at any price and then try to ‘work’ both the seller and you while negotiating later. Demand that the real estate agent prove to you that they believe in the price you are offering. Make them show how they will convince both the seller – and the bank – to accept that price. Every house in today’s market must be sold twice – first to you and then to your bank.

The second sale is often more difficult than the first. The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the original offer.

2. Respect your timetable

You will be moving your family into a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will need to work according to plan.

Getting everything in order to keep to the schedule can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. While your agent cannot pick the exact date of your move, but they should exert any influence they can to make it work.

3. Safely navigate the challenges of buying a new home.

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on parts of the purchase offer, don’t expect them to turn into a super hero when they are negotiating with the seller for you and your family.

Finding a real estate agent in Breckenridge Colorado

4. FIND the right house!

There is a reason you are putting yourself and your family through the process of moving.

You are moving on with your life in some way. Whether you are looking for a new home or a vacation home, the reason is important or you wouldn’t be dealing with the headaches and challenges that come along with purchasing. Do not allow your real estate agent to forget these motivations. Constantly remind them that finding the right house is why you hired them. Make sure that they don’t worry about your feelings. If they discover something needs to be done to attain your goal (i.e. rethinking price), insist they have the courage to inform you.

Any agents knows how to deliver good news. Only great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT.

Roger and Teresa Moen deliver these promises. With over 15 years of experience in the resort community of Breckenridge, we will work to get you the best opportunity in selling or buying your dream home.

Images and concept provided by Keeping Current Matters

Great news for vacation home owners in Breckenridge!

Summer Peak 8 Improvements

The proposed action includes enhancing year-round recreational opportunities at Breckenridge Ski Resort by constructing and operating two zip lines, three canopy tours, two challenge courses, new and realigned hiking and mountain bike trails, off-highway vehicle tours, and additional lifts for scenic rides and activities access.

The proposed action also includes improvements to the Vista Haus and Independence SuperChair summit sites, realignment of Four O’Clock Road, expansion of the Peak 7 Hut and deck, expansion of the Vista Haus deck, construction of a climbing wall at Vista Haus and a lookout tower on Peak 8.

This is great news for all of us. If you are renting your property we are hoping to see  improvements in our summer rental numbers. People are finally realizing that winter skiing is great in Breckenridge but the summers are absolutely beautiful. We are more than just a winter destination now. We now offer even more year round fun and activities.