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Allison Simson

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A visitor flies into Denver from sea level, rents a car and drives up to Summit County. Braving the traffic, potholes and white-knuckle turns along the Interstate 70 mountain corridor, they get to one of the more amazing sights in Colorado: a dazzling blue Lake Dillon framed by the majestic Gore Range with rolling, green pine forests all around.

They decide not to waste any time, and they go for a hike as soon as they get here. Not too long into the hike, they start feeling a little lightheaded, and a headache starts gnawing at their temples. Farther along, their breaths get shorter. Before they’re halfway up, everything in their body is telling them to stop. They’re nauseated, dizzy and their muscles are aching.

Suddenly, their trip to the Colorado Rocky Mountains becomes a medical emergency.

What they’re experiencing is called altitude sickness, and it’s caused by hypoxia, a lack of oxygen in body tissue. Understanding hypoxia is the key to unlocking many mysteries of human health at elevation, including why so many people who live at high elevation are able to thrive.

In this first part of the Summit Daily News’ annual Longevity Project series, we explore how high altitude affects the biological and physiological processes, what performance gains the human body can experience after spending enough time at high altitude, and why some people — especially endurance athletes — thrive here.

Running out of air

Hypoxia can be acute or chronic and occurs when body tissue receives less oxygen then normal. At high elevations, about 8,000 or more feet above sea level, hypoxia occurs because there is lower barometric pressure. Lower pressure means less air drawn into the body with each breath, which also means less oxygen in the lungs. The towns of Breckenridge, Dillon, Frisco and Silverthorne are all above 9,000 feet, making them hypoxic environments.

Dr. Christine Ebert-Santos, a pediatrician who runs the Ebert Family Clinic in Frisco, has been studying the effects of high elevation on human health for two decades.

She said lower oxygen absorption in the lungs results in lower peripheral capillary oxygen saturation, measurable with a pulse oximeter, which in turn leads to lower oxygen saturation in red blood cells.

A pulse oximeter reading at sea level is normally at 100%. In Denver, peripheral capillary oxygen saturation is usually around 95-96%. Up in Summit, oxygen saturation is around 92%. Visitors coming to Summit from sea level might see their oxygen saturation drop to around 88% or lower before reaching levels typical at this elevation.

Any oxygen saturation level below 100% is considered low, while measurements in the mid-80s could be a real health concern. Below 80%, organ function is disrupted.

“If your oxygen saturation drops below 30%, you will probably die within a few hours,” Ebert-Santos said.

While people don’t drop dead from oxygen starvation in Summit, some do get very sick.

Charles Pitman, spokesman for Summit County Rescue Group, said his team goes out on calls all the time to help people who didn’t prepare properly for high altitude.

“People come up to altitude, but they don’t acclimatize. They drive up to Summit County and want to do a very arduous climb the next day,” Pitman said. “It takes three, maybe four days to acclimatize. By not allowing themselves to do that, they not only get tired, but they’re dehydrated and don’t use the best judgment.”

Pitman said the two primary indicators of a person experiencing altitude sickness are headaches and an inability to speak. He said people experiencing dehydration and altitude sickness often see the summit of whatever mountain they’re hiking, ignore the symptoms and push forward to their goal, making more poor decisions along the way. He said the rescue group has a term for that behavior: summit-itis.

“We’ve seen many cases of extreme dehydration over the years,” Pitman said. “When we find them, it’s very difficult to run a line to get fluids because their veins have collapsed.”

Pitman’s best advice for people coming up to high elevation from lower elevations is to be educated and to listen to their body.

“Don’t push yourself,” Pitman said. “A lot of people are short on time and try to maximize the number of things they’ll do, and it can be very challenging for them. We see that quite frequently. People need to take at least a day or two to acclimatize.”

For adventurers who want practical advice on how to avoid altitude sickness, there are few people on the planet with more experience or daring than mountaineer and explorer Mike Libecki, who was named a National Geographic Adventurer of the Year in 2013.

Libecki has conducted more than 90 expeditions to the North Pole, South Pole and many of the unexplored, untouched parts of the planet found in between — even places that have never been named. While he prefers technical climbing, Libecki is well-versed on what it means to perform at altitude, having climbed to 23,000 feet above sea level.

Libecki said the most important part of a high elevation trip is preparation and physical training — the parts he calls “easy.” Beyond that, it’s about staying hydrated, taking your time, and being cognizant about how everyone can get altitude sickness, no matter what physical shape you’re in.

“One time, our whole team went up a little too fast, and we had to go back down to 16,000 feet to get hydrated and adjust,” Libecki said. “It’s a pretty simple concept: Take your time. I’m not an Everest guy, but these high altitude climbs can be just as challenging as climbing it.”

Acclimatization

Those seeking a high elevation panacea that will allow them to quickly acclimatize are out of luck — the human body just doesn’t work that way. Dr. Benjamin Honigman, director emeritus of the Altitude Research Center based out of the University of Colorado Anschutz Medical Campus, said that should not be the goal for people traveling to high altitude.

“I don’t think quicker is the idea. Safely is a better way to put it,” Honigman said. “The body takes some time to adjust. Trying to speed the process along is one of the factors predisposed to making people sicker. If you’re trying to focus on speed of acclimation, we don’t have ability to do that yet.”

Honigman said there are medications that can lessen the effects of altitude sickness. One such medication is acetazolamide, which is better known under the brand name Diamox. Honigman said medications can decrease the incidences of getting sick from as high as 30% to 5-8%.

As far as the most readily available remedies for altitude sickness — like those bottles of oxygen you can buy at mountain gas stations — they’re more or less useless.

“Those oxygen canisters might make people feel better for three or four minutes, but once off it, you’re back at altitude, so there’s no real utilization for them,” Honigman said.


Dr. Christine Ebert-Santos consults a paper and discusses high-altitude health and living at the Ebert Family Clinic on Thursday, Aug. 29, in Frisco.

The oxygen saturation level at which the body starts trying to compensate depends on a person’s hypoxia inducible factor, which varies by individual and is determined mostly by genetics.

“The hypoxia inducible factor is a protein complex that affects the body’s response to low oxygen by changing the expression of hundreds of genes in various ways, such as increasing the number of small blood vessels bringing oxygen to tissues,” Ebert-Santos said. “It’s a response to your body recognizing that it is not getting enough oxygen as it had been getting previously. If it goes on long enough, the body knows it needs to do something internally because it’s not getting something externally.”

Once the hypoxia inducible factor is activated, kidneys send out a hormone called erythropoietin, also known as EPO. Ebert-Santos said EPO can be detected in the body as soon as two hours after arriving at high elevation, showing how quickly human physiology reacts to oxygen level changes.

The EPO pushes a signal to the bone marrow, which is in charge of producing new red blood cells. The signal tells bone marrow that it needs to pump up its production of red blood cells and hemoglobin, the iron-based protein in red blood cells that absorbs and carries oxygen throughout the body.

The bone marrow obliges and starts sending more hemoglobin-rich red blood cells into the blood stream. These new cells, having a higher capacity for oxygen, compensate for the lower oxygen at altitude by carrying more oxygen away from the lungs to the tissue as they circulate.

Honigman said the hypoxia inducible factor and its regulation of EPO is a primary reason for how the body is able to acclimate to high elevation environments.

“The hypoxia inducible factor is a regulator of oxygen and how it is utilized in the cell,” Honigman said. “The factor upregulates EPO over time so that your body can adjust to lower amounts of oxygen in that environment.”

Ebert-Santos said that, while the EPO effect starts kicking in relatively quickly, it takes a while for the body to acclimatize to the point where it functions as normal with lower oxygen saturation. It might be a few days, or maybe even months, before the body feels like it is getting enough oxygen.

EPO and performance

Aside from helping the body acclimatize, EPO has a performance-boosting effect. An athlete with a higher red blood cell count and hemoglobin concentration won’t get fatigued as quickly and will be able to perform longer.

After Lance Armstrong was stripped of his seven Tour de France wins and banned from competitive cycling for life, EPO is one of the banned substances he admitted injecting into his body.

“My cocktail, so to speak, was EPO — but not a lot — transfusions and testosterone,” Armstrong said in his confession interview with Oprah Winfrey in 2013.

Roberto Ebert-Santos, Dr. Ebert-Santos’ son as well as a researcher and communications manager for the Ebert Family Clinic, has studied human performance at high altitude. He said the performance gains from a low oxygen environment can be offset by detrimental effects.

“There’s this misconception that training at high altitude is advantageous because of the oxygen deprivation, but it is so much more complex that,” he said. “The oxygen deprivation limits your performance in every other aspect. You can’t exert muscles to their fullest capacity because you will run out of respiratory stamina before you even get to the point where your muscles are tired.”

Because of the lower oxygen saturation, athletes never will be able to reach their maximum oxygen uptake level, expressed as VO2 max.

“Your heart and lung capacity is the limiting factor in training at high altitude,” he said.

That is why some athletes live by the “live high, train low” philosophy, where they live at high altitude to maximize blood oxygen efficiency and train at low altitudes to max out their workouts.

“‘Live high, train low’ centers around this philosophy that if you expose yourself for a certain amount of time to a high altitude environment, your body will create enough red blood cells to compensate for oxygen deprivation,” Roberto Ebert-Santos said. “But you want to train at low elevation to push your body to the extent you can allow your muscles to be challenged and grow.”

Dr. Ebert-Santos added that being born at high altitude provides some physiological advantages that can give a definite edge for endurance sports.

“Being born at high altitude gives an advantage for cardiovascular fitness,” she said. “People born at high altitude have larger lungs and higher lung capacity, which can certainly be an advantage for endurance sports. Muscles also develop more capillaries because there’s more circulation.”


Local runner Nichole Sellon tackles a trail at the west ridge of Loveland Pass on Tuesday, Sept. 3.

High altitude performance

Summit County resident Nichole Sellon, 33, has been trail running since she was 22. Born in Los Angeles, Sellon doesn’t have the cardiovascular advantages of being born at high elevtion. When she first arrived in Summit County in 2015, Sellon said she experienced the same adjustment period others do when moving to high elevation.

“For the first six to eight months, I had the obvious signs. It was harder to exercise, as soon as I hit a hill, my breathing shot up a lot quicker than at sea level,” Sellon said. “I was more of a hiker the first six months than a runner.”

After she was fully acclimatized, Sellon embraced the high elevation life in Summit, with its endless trails to explore and ridgelines to ramble over. Her passion became her everyday workout, making her fit enough to do things at sea level most people would never dream of attempting.

In August, while visiting her father in Palm Springs, California Sellon decided on a whim to do the Cactus to Clouds hike, one of the steepest, most grueling hikes in the country. In summer 2009, three people died attempting what has been called “the hardest hike in America.”

The hike starts at 400 feet above sea level in downtown Palm Springs and ends at 10,833 feet at the summit of San Jacinto Peak. That’s more than 10,000 feet of elevation gain within 16 miles. San Jacinto Peak is the sixth most topographically prominent peak in the lower 48 states, meaning it is the sixth highest summit relative to the surrounding terrain.

The hike starts in the desert and ends at the top of a mountain, with temperature extremes at both ends. Sellon said it took her six hours to get to the peak.

“It went really well, and I think it’s because I live at altitude,” she said. “I felt strong, and it felt easy going the distance. I didn’t feel out of breath, and in fact felt like I had a lot more oxygen to work with. It’s definitely easier to do things at sea level than before I moved to Summit.”

Real Estate Market Predictions for rest of 2019

by KCM

We’re in the back half of the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the predictions are for the remainder of 2019.

Here’s what some of the experts have to say:

Ralph McLaughlin, Deputy Chief Economist for CoreLogic “We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.”

Lawrence Yun, Chief Economist at NAR “We expect the second half of year will be notably better than the first half in terms of home sales, mainly because of lower mortgage rates.”

Freddie Mac “The drop in mortgage rates continues to stimulate the real estate market and the economy. Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months…The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity.”

Bottom Line

The housing market will be strong for the rest of 2019. If you’d like to know more about our specific market, let’s get together to discuss what’s happening in our area.

16th Annual SRE Client Appreciation Party Wrap Up!

by Summit Real Estate

Another year of great food, friends and engaging with the great folks of Summit County! We truly enjoy what we do and when we get a chance to celebrate we do so with so much joy and gratitude it lasts long after the celebration!

"Thanks to all the staff who provided a wonderful evening for us!  Everything was wonderful. You’re the best!" The Bonnets

"Thank you very much for a  great party.  It is always such good food and such good company.  I appreciate being invited." M. Rachwalski 

A Special Thank You to Our Generous Sponsors: Movement MortgageTiger Home InspectionsNew Belguim Brewing, CO and Mountain Equity.  Great food and Service from Mountain Lion Cafe. 

 

 

 

Isabel Live Day of Party- A Picture Perfect Day!

 

 

 

 

 

 

 

 

 

We can't thank you enough for those who attended and made this event all it is to us!

Warmly, SRE TEAM

Summit Real Estate's Very Own BEST OF SUMMIT- Kelie Gray

by Summit Real Estate

Kelie is truly honored to have been nominated & her team here at

Summit Real Estate is super proud ​to support her! 

We have voted for her and would love for you to

join us in voting for the BEST! 

 

VOTE FOR KELIE

Go to Services> Real Estate Agent

About Kelie:

It is Kelie’s goal to help you focus on your mountain real estate needs so that you can move on to new adventures. She truly listens and works diligently on your behalf, while keeping your goals in mind.  Her love of the mountains, extensive knowledge of the local real estate market, and long career of helping buyers and sellers in Summit since 2002 will help get you where you want to be.  Real Estate is her Specialty and helping others is her Passion!

“Moving to Dillon from Iowa in 1999 was the best decision I ever made. The midwest is  a wonderful place to be from, but I look forward to raising my family in the mountains! I would be honored to help you find the mountain property of your dreams, and listening to your needs and goals is always a good place to start. Whether you're looking for a vacation home or looking to make Summit County your permanent home I hope that I can share my love for the mountains!"  

Kelie's Success Stories told by her clients: 

 "Quite simply put, Kelie is THE best. She knows her stuff and possesses a plethora of pertinent, far ranging information. Though every agent has access to all mls listings, it’s what they do or do not do that is important. Kelie KNOWS what to do!Gary Moore's 5 Star Google Review

HUD to Announce Long-Awaited FHA Condo Rules

by NAR

The U.S. Department of Housing and Urban Development is expected to release updated guidance tomorrow on FHA-insured condominium financing. The new rules should benefit your real estate clients and customers by allowing more buyers to obtain low down-payment mortgages on affordable housing options.
 

Specifically, the new rules will:
 

Extend FHA certifications on condo developments from two years to three years, reducing the compliance burden on condo boards.

Allow for single-unit mortgage approvals—often known as spot approvals—which will enable FHA insurance of individual condo units, even if the property does not have FHA approval.

Secure additional flexibility in the ratio of investors to owner-occupants allowed for FHA financing in a condo building.
 

The full guidance will go into effect in mid-October, 60 days from publication.
 

“Condominiums are often the most affordable option for first time home buyers, small families, and those in urban areas,” said NAR President John Smaby, in a statement issued to the media Wednesday morning. “We are thrilled that (HUD) Secretary (Ben) Carson has taken this much-needed step to put the American dream within reach for thousands of additional families.”
 

Since 2008, NAR has championed policy changes in condo lending. NAR has sought rules that would allow the owner-occupancy level to be determined on a case-by-case basis and that would extend the approval period for project certification to five years.
 

NAR’s existing-home sales report for June showed condominium and co-op sales at a seasonally adjusted annual rate of 580,000 units, a decline of 3.3% from May and 6.5% from June 2018. With more than 8.7 million condo units nationwide, only 17,792 FHA condo loans have been originated in the past year.
 

“This ruling, which culminates years of collaboration between HUD and NAR, will help reverse recent declines in condo sales and ensure the FHA is fulfilling its primary mission to the American people,” Smaby said.
 

The full rule for single-family condo financing is scheduled to be published in the Federal Register on Aug. 15, 2019, and available online at https://federalregister.gov/d/2019-17213, and on govinfo.gov.

ABasin to Join Ikon Pass starting winter 2019-20!!!!

by Summit Daily

FRISCO — Arapahoe Basin Ski Area announced Friday morning that it would partner with Alterra Mountain Co. and join the Ikon Pass starting this winter.

The news comes more than five months after A-Basin ended its more than 20-year partnership with Vail Resorts on Feb. 18 citing overcrowding in its parking lots, facilities and restaurants.

“We think we’re ready to go this on our own,” A-Basin chief operating officer Alan Henceroth said in February, and spokeswoman Katherine Fuller said in March that A-Basin was “discussing opportunities with several resorts and resort groups.”

In an email blast announcing the news Friday, Henceroth said the new pass partnership would provide more “elbow room” than in previous seasons.

“I think everyone that has been skiing here for the last several years has realized how busy we’ve become, and we really wanted to address that,” Henceroth said on the phone Friday.

Asked how joining another pass product would help with crowding, Henceroth said the scale of Ikon is nowhere near the scale of Epic.

“We are very confident this is going to address the crowding issues we’ve been talking about for a while,” he said.

Henceroth said the Ikon Pass partnership also will help reduce crowds because the passes offer a limited number of days with blackout periods.

Ikon passholders will have seven days at A-Basin with no blackout dates, and Ikon Base passholders will get five days with blackout dates over the holidays.

“We’re committed to getting quite a few less people here over those busy periods,” he said.

Also in the Friday email blast, Henceroth said he personally skis at many of the Ikon Pass resorts — including Alta and Snowbird in Utah, Jackson Hole in Wyoming and Squaw Valley Alpine Meadows in California — and that their brands are “in sync” with A-Basin.

“We really think when we look at the Ikon partners … we think those are resorts whose brand is really in sync with our brand, and people who like to ski A-Basin will like to ski those places, too,” Henceroth said.

“For us, it’s really about maintaining the culture and the vibe” of A-Basin, he said.

The news means Summit County is now split with Breckenridge Ski Resort and Keystone Resort on the Epic Pass and A-Basin and Copper Mountain Resort on Ikon.

The news also puts the pass war tally even in Colorado, with six resorts on each pass:

Ikon Pass: A-Basin, Aspen Snowmass, Copper, Eldora Mountain Resort, Steamboat Resort and Winter Park Resort
Epic Pass: Beaver Creek, Breckenridge, Crested Butte, Keystone, Telluride and Vail

Sell this Summer? Here are 4 Reasons

by KCM

Some Highlights:

Buyer demand continues to outpace the supply of homes for sale. This means that buyers are often competing with one another for the few listings that are available.
Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
Now may be the time for you and your family to move on and start living the life you desire!

Gov. Polis Signs New Traction, Snowplow Laws Outside Eisenhower Tunnel

by Sawyer D'Argonne- Summit Daily

As cars began to pile up on the east side of Eisenhower/Johnson Memorial Tunnel on Monday afternoon, Summit County residents were again reminded of the often treacherous nature of winter driving in the mountains. But drivers may be more prepared to deal with the elements by this time next year.

Gov. Jared Polis and representatives from around the state gathered under a soft dusting of snow outside of the tunnel on Friday afternoon, hoping to make the roadways to western Colorado a little safer. Polis signed two new transportation bills into effect at the meeting, both aimed at improving safety and keeping traffic moving in the corridor.

“These are both safety bills, but they’re more than that because for regular Coloradans these are also bills to reduce traffic,” said Polis, who spoke in front of a crowd — including Summit County Commissioners Thomas Davidson and Elizabeth Lawrence — inside the tunnel’s operations room before signing the bills. “This will really have an impact on keeping people moving in the High Country, which is good for business, good for quality of life and also good for safety.”

TRACTION

The first bill signed was a measure to increase the traction standards for drivers making the trip along Interstate 70. Under the previous law, motorists only needed to think about their equipment after the Colorado Department of Transportation put commercial or passenger vehicle traction laws into effect. Now, the restrictions are essentially in effect for the entire winter, from Sept. 1 through May 31, for anyone driving between Dotsero (milepost 133) and Morrison (milepost 259).

The bill also raised the bar for traction requirements. Drivers will only legally be allowed on the roadway if they have a tire tread depth of at least 3/16th of an inch (previously 1/8th of an inch), along with four-wheel drive, all-wheel drive, or either mud and snow or all-weather rated tires. Commercial vehicle drivers are required to carry chains for at least four tires, or an alternate traction device, throughout the entire period in case traction laws go into effect.

“It will improve safety; it will reduce traffic jams,” said Rep. Dylan Roberts, one of the bill’s prime sponsors along with Sens. Bob Rankin and Kerry Donovan. “This is one way we can start reducing traffic on I-70, and keep our local economy humming.”

While all agree that state officials had the right idea in mind in coming up with the new law, some are concerned about enforcing the measure.

Colin Remillard, a local spokesman with the Colorado State Patrol, said that any bill aimed at improving the traffic flow on I-70 would be helpful, but noted that educating the public on the law could be an issue, especially for out of state visitors.

“In every winter storm there’s always dozens of passenger cars without the ability to get up the hill,” said Remillard. “That creates a domino effect, where if there’s cars spun out it’s really hard for them to treat it, and we’re in a position we can’t clear the road. So this is a step in the right direction.

“Enforcement could be an interesting issue. I’m not saying ignorance is an excuse, but for people coming up from Florida for a week, this type of thing really isn’t on their radar.”

Peter Griff, owner of Breckenridge Rental Car, reciprocated Remillard’s concerns, noting that car rental companies in Denver won’t be keeping the law in mind when renting out cars.

“I think it’s just an ongoing issue of people not knowing the area,” said Griff. “They don’t know the laws or how they work. They think they’re all set with that four-wheel drive car, even if they don’t have the right tires. I think the intention is in the right place, but it’s a matter of how enforceable this is.”

SNOWPLOWS

In addition to the traction bill, Polis signed off on a new law increasing penalties for motorists who unsafely pass snowplows on the road. Under the former law, a person who overtakes an operating snowplow while failing to “exercise more than ordinary care and caution” could be charged with a class B traffic offense. The new law creates more a severe punishment in the form of a class A traffic offense for drivers that pass an operating snowplow in “echelon formation” with one or more other snowplows. Echelon formation denotes snowplows arranged diagonally, with one unit behind and either to the right or left of the other.

Class A traffic offenses are punishable by a fine typically between $15 and $100 along with a surcharge.

According to CDOT, plows operating in echelon formation is the safest and most efficient snow removal method, and attempting to pass is dangerous for all parties involved due to potential white out conditions coming off the plows and ridges of snow between lanes.

“It creates a class A traffic infraction for passing a snowplow in echelon formation,” said Polis. “Its another safety measure, also one that will prevent accidents which lead to road closures, again to keep people moving in the high country safely.”

“We ask CDOT to keep us safe, and these two bills will hopefully pay that forward by helping to keep CDOT safe while they’re helping us,” added Sen. Donovan.

OpenSnow launches ‘OpenSummit’ Summertime Mountaintop Weather Forecasts

by Antonio Olivero- Summit Daily


In time for summer hiking, the skiing-focused weather forecasting website OpenSnow and its Colorado-based founder Joel Gratz have launched a new mountaintop weather-forecasting service dubbed “OpenSummit.”

OpenSummit — available at OpenSummit.com — provides access to hourly weather forecasts for more than 1,000 locations across the country. Information for each location includes the chance of precipitation, lightning potential, temperature, wind speed and sunrise and sunset times free to all readers up to two days, and up to five days for OpenSnow/OpenSummit all-access subscribers. Gratz said additional forecast data and locations will be added over time. A dual OpenSummit-OpenSnow yearly subscription costs $19 annually.

The forecasting service provides information specific to 232 mountaintop locations in Colorado. Here in Summit County, the service provides information at locations including Buffalo Mountain, Uneva Peak, Peak One, Peak 10, Crystal Peak, Pacific Peak, Atlantic Peak, Fletcher Mountain, Quandary Peak, Bald Mountain, Mount Guyot, Mount Valhalla, Mount Powell, Eagles Nest, Arapahoe Basin Ski Area, Keystone Resort and Breckenride Ski Resort.

Other nearby locations include Torreys Peak, Grays Peak, Mount Edwards, Mount Sniktau, Pettingell Peak, Byers Peak, Square Top Mountain, Notch Mountain, Mount of the Holy Cross, Holy Cross Ridge, Clinton Peak Mount Lincoln, Mount Cameron, Mount Democrat, Mount Buckskin, Mount Bross, Mount Silverheels, Dyer Mountain, Mount Sherman, Horseshoe Mountain, Mount Massive, Mount Oklahoma, Mount Elbert, Casco Peak, Lackawanna, French Mountain. Mount Parnassus, Bard Peak, Vasquez Peak, Winter Park Resort and Colorado Mines Peak, among others.

An OpenSummit mobile-phone application is also available for download on iOS, while Android will be available by early June.

To search and see which mountains are included in the forecasting service, vist: OpenSummit.com/Explore.

 

Here are four reasons to consider buying today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.

Home values will continue to appreciate. Waiting may no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

Some renters have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Examine the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, greater safety for your family, or you just want to have control over renovations, now could be the time to buy.

Bottom Line

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

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Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker