Colorado Resort and Rural Real Estate and Community News

Nov. 11, 2022

Thinking About Investing in a Ski Resort Property in Colorado? Guide to Resort Properties

 

For skiing enthusiasts, having access to a great ski property is the dream. Fortunately for them, having access to a great ski property can also be a great investment. With some careful consideration, a ski resort real estate investment can be a very lucrative asset that retains, and even increases, its value incredibly well.

There are two very important details to consider when considering this kind of investment. One, of course, is location, and all of the nuances and details that come with that. The other is the purpose of your investment, and how you want your property to be used. What does this look like?

 

Size and Investment

No property investment is particularly inexpensive so, naturally, anyone looking to invest in a ski resort property should have a good idea of why the investment is being made. One of the extremely valuable parts of a ski property investment is how easily and reliably it can be rented out seasonally. If your main priority is to have a rentable property, then maybe wider accommodation (and a bigger price point) should be on your mind. If your main priority is personal use, though, a cozier space might make more sense.

Fortunately, either of these two options are perfectly marketable. A quick look through Colorado ski resort listings shows that bigger and smaller size lodgings are regularly on the market. The true key to the ideal choice will be careful research into the demographics of resort visitors to know how well the demand in your location matches up with your personal preferences. Speaking of location…

 

Location, Location, Location

This is the first rule of any property investment, and ski resorts are no different. Location matters a lot! If the property is primarily for your use, then the location should match what you’re looking for. Maybe you’re after a more intimate connection with nature, and so the super populated skiing destinations just aren’t for you. There are plenty of beautiful locations in Colorado that tend to have much less traffic, like Creede & Mineral County. A more personal ski trip location is fine for the market, too. You certainly won’t be the only one looking to avoid the crowds in places like Aspen.

The other location-related detail that really matters is what’s in proximity to the property, year-round. At first thought, a ski resort property just sounds like an opportunity to rent out the lodge during the winters you won’t be there, but that’s only half the story! Certain ski locations double as great hiking trail spots and places for other fun summer activities when the heavy winter snow isn’t around. You most likely aren’t looking to stay year-round at your ski property, so being able to rent the place out while you aren’t there regardless of the season is a clever way to practically duplicate your potential rental income.

Demand for ski lodging is present every year, which helps make sure that these investments stay stable and lucrative through time. With some careful thought and research, though, you can make sure that this becomes the investment of your lifetime. Interested? Reach out to a professional today!

 

Nov. 2, 2022

Why Is It So Important to Have a Real Estate Agent?

Whether you’re buying or selling a house, it seems natural to want to minimize the cost of the process and get that contract signed as soon as possible. Avoiding unnecessary expenses, like hiring a real estate agent, seems like the obvious answer, then, right? You might want to think again.

While hiring an agent might seem like an extra and unnecessary cost, it can cost both sellers and buyers much more money to take on the market by themselves for a plethora of reasons. The truth is that you can expect much better results when you have a professional by your side. So, what exactly makes having a real estate agent so important?

Knowledge and Experience

It may seem like an obvious point, but real estate agents simply have more market knowledge and experience. How else can you know what an appropriate price looks like? From making sure there’s a fair offer on the table to knowing how and why to negotiate, hiring a real estate agent can save both the buyer and the seller a lot of painful time and research and make sure there isn’t too much money being left on (or off) the table.

More to this point, knowing the local market and the market trends helps real estate agents make educated and sensible offers, taking into account details that the average buyer or seller might be missing. If you’re buying, do you know what tomorrow’s market means for your offer today? If you’re selling, would you know whether or not to take the counteroffer?

Resources

Another great benefit that real estate agents have on their side is access to more resources. Not only will real estate agents have better command and knowledge of resources that are accessible to you, but licensed realtors will also have access to resources that you cannot access, like certain MLS listings. Maybe you’re looking for a nice ski property on the Colorado real estate market and can’t seem to find any reasonable options. Chances are the options you’re looking for are hidden behind a realtor’s license.

Additionally, one of the greatest resources a real estate agent can help you access is their network of professional contacts. Most likely, you’ll need to speak to other professionals during the process, such as mortgage consultants and home inspectors. It can be tough to know who to call without the intuition and network of a real estate agent.

The Devil in the Details

Put the experience and the resources together and, above all else, a professional real estate agent is simply better equipped to handle one thing: the details. If everything goes exactly right, avoiding hiring an agent might save you some money. But every single thing is a lot of things! Anything from a stray deadline to an improper home inspection can end up costing either the buyer or the seller much more money upfront or down the line. With a decision this big, there’s truly no need to gamble that margin.

Another thing that often goes trivialized: being a real estate agent is a whole job—literally. Is there another industry where you’d consider picking up an entire full-time job on top of your existing workload? Even beyond the real estate training and licensing that real estate agents have to offer, they work around the clock to make sure everyone involved is getting the best deal possible. Details included, that’s a whole lot of time and effort that most people simply do not have! Whatever way you cut it, the conclusion should be clear. Whether you’re buying or selling, you need to have a real estate agent. 

 

Posted in Real Estate Agents
April 1, 2022

Buying a Home Step 1-Discovery

Buying a Home

Interested in buying a home? More than likely you have discovered our team through our books, websites, social media, open houses, signs, trusted advisor, friend, relative, or any number of places during your discovery phase. Maybe you have been ‘kicking the tires’ for a few years and still need more information.  You’ve listened to radio shows, podcasts, watched TV shows or online videos, or searched online via large national sites, and more.

You are thinking of discovering, buying, weighing your options, gathering information, and ‘kicking the tires’.  You are researching all that you can, and perhaps talking about it with a few people.  Perhaps you’ve been in the area, driving around or even staying in a unit that is for sale.  You have been ‘window shopping’ on main street, dreaming of the possibilities.  We can answer any questions you have at this time about buying a home, knowing that you may or may not decide to buy. Stay tuned for Step 2 in the Home Buying Process!

 

March 26, 2022

Distressed Property Sales

Buying a distressed property can make anyone feel somewhat uneasy.

If you are thinking of buying a house that is “distressed”, consider the following:

  1. Short Sales aka “Pre-Foreclosures”: There is nothing “short” about the timing.  The seller is selling their bank mortgagor short.  Do not fall in love with a short sale listing if you are the Buyer.  Even when your agent submits an offer to the Listing Agent, the Listing Agent then has to wait for bank approval.  This process of approval could take anywhere from 90 days to 2 years or more.  These were more prevalent after the bank fallout of 2007.  We lived and sold distressed properties through these tough years of pre-foreclosures and foreclosures, and learned a lot.  It takes a special agent to negotiate a short sale, so be sure you are working with someone experienced and/or educated enough to represent you wisely.
  2. Real Estate Owned “REOs” aka “Foreclosures”: The bank has taken back the house as collateral.  The seller defaulted on payments, so the bank went through the lengthy process of repossession.  These were also more prevalent after the bank fallout of 2007.  Sometimes the bank will take less than asking price, but more often than not, they are already taking less than what was owed.  Again, it takes a special agent to negotiate a foreclosure, so be sure you are working with someone experienced and/or educated enough to represent you.
  3. Courthouse Steps Auction Sales aka “Foreclosures”: In Summit County, Colorado, we are one of the last few remaining counties that still sell properties at the courthouse steps.  Colorado is a “Public Trustee State”, the only one in the United States where the State can foreclose upon properties on behalf of lenders.  A wire in the amount of your maximum bid is required to be initiated to the County 24 hours before the sale.  Sales are held on Friday mornings at 7 a.m., in-person at the Courthouse on Lincoln Avenue in Breckenridge, Colorado.  The Mountain Dream Team can be present for you, or you can visit to take part in the auction.  Properties are sold sight unseen with notification of sales sent out the Wednesday prior to the Friday of the sale.
  4. Sheriff Auction Sales aka “Foreclosures”: These sales are almost identical to the Courthouse Steps Auction Sales.

If you are a homeowner who is:

  1. In trouble financially
  2. have not been able to make payments
  3. Are barely scraping by
  4. Or are considering bankruptcy

Please call us immediately at 970-368-2124.

We can guide you through the process and give you possible choices such as a short sale or payment deferral negotiations. Furthermore, we can also connect you with reputable attorneys to advise you beyond our expertise.  Or we can sell your house for a quick sale so that you can move on from the painful experience.  We never want you to lose your home, and would do everything in our power to help you through the process.