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Summit County Quarterly Sales Reports now available!

by Allison Simson

Summit Real Estate's Quarterly Sales Report is now available!

How’s the local real estate market performing?  There are many ways to gauge market performance and, as always, we like to take an objective approach.  The numbers do the talking.  The cocktail party circuit is great for catching up on the real estate “gossip”, but we’ve found our clients appreciate more substantive information and advice. 

It is our pleasure to keep you informed on Summit County’s Real Estate Market.

Click the hyperlink below, give us your name and property address (if you already own property in Summit County) and you will automatically be directed to the sales reports for Summit County.

Summit Real Estate Quarterly Report

 Please let us know if you would like more specific information about any particular property or complex.  We’ll help you navigate the numbers! 

Pre-ski season fun!

by Allison Simson

Ready or not, here it comes!  A-Basin opened last week - after only being closed for 100 days!!!!  Keystone opens November 4 and Breck the week after.

Here's the scoop on Keystone (that's yours truly - Allison - with my daughter Mackenna- skiing in the ad!)  Click here!

Pre-Ski Season Ski exercises.....  :>)

  1. Visit your local butcher and pay $30 to sit in the walk-in freeze for a half an hour. Afterwards, burn two $50 dollar bills to warm up.
  2. Soak your gloves and store them in the freezer after every use.
  3. Fasten a small, wide rubber band around the top half of your head before you go to bed each night.
  4. If you wear glasses, begin wearing them with glue smeared on the lenses.
  5. Throw away a hundred-dollar bill now.
  6. Find the nearest ice rink and walk across the ice 20 times in your ski boots carrying two pairs of skis, accessory bag and poles. Pretend you are looking for your car. Sporadically drop things.
  7. Place a small but angular pebble in your shoes, line them with crushed ice, and then tighten a C-clamp around your toes.
  8. Buy a new pair of gloves and immediately throw one away.
  9. Secure one of your ankles to a bedpost and ask a friend to run into you at high speed.
  10. Go to McDonald’s and insist on paying $13.50 for a hamburger. Be sure you are in the longest line.
  11. Clip a lift ticket to the zipper of your jacket and ride a motorcycle fast enough to make the ticket lacerate your face.
  12. Drive slowly for five hours- anywhere- as long as it’s in a snowstorm and you’re following an 18-wheeler.
  13. Fill a blender with ice, hit the pulse button and let the spray blast your face. Leave the ice on your face until it melts. Let it drip into your clothes.
  14. Dress up in as many clothes as you can and then proceed to take them off because you have to go to the bathroom.
  15. Slam your thumb in a car door. Don’t go see a doctor.
  16. Repeat all of the above every Saturday and Sunday until it’s time for the real thing.

See you on the slopes!

The new real estate boom: rentals

by Allison Simson

Question:  Allison, we are considering purchasing another condo in the complex where we already own as a long-term rental property.  I’d love to get your perspective. 

Answer:  I think it’s a fantastic idea!  Prices are low and while rents haven’t skyrocketed, they are staying up and we’ll see more renters in Summit County.  According to Brian Davis and Inman News, home prices and sales may be flat, but the rental industry is booming. The percentage of renters is on the rise, the number of households is increasing, and more Americans are downsizing, all of which point in a single direction: rents are on the rise.

At the peak of the housing boom, homeownership in America reached an all-time high at 69.2 percent. Today that number has dropped to fewer than 67 percent, which may not sound like a huge drop, but that represents roughly 3 million households that were owner-occupied and are now tenant-occupied.

The high foreclosure rate has accelerated the transition toward leasing, but there are a myriad of other trends coalescing to boost demand for rental housing.

For the first time in 40 years, demand has been shifting toward smaller dwellings, coinciding with a shift in demand toward urban centers. Baby boomers are considering downsizing, moving toward areas with more amenities, and members of Generation Y are just hitting their single, urban-living years.

Only the relatively small Generation X is in the buy-a-large-house-in-suburbs category, which means the demand for the traditional single-family home with a white picket fence is weak.

The number of households in the U.S. was artificially stifled during the "Great Recession," as people took on roommates, moved in with family, or remained with their parents longer than they would have otherwise.

Rental vacancy rates are sharply on the decline as well. In the first quarter of 2011, rental vacancy rates had dropped to 6.2 percent, according to Reis Inc., which tracks nationwide residency data. This figure is down sharply from the 8 percent vacancy rate just one year earlier.

Each of these indicators are entire topics in themselves, but the bottom line is that the rental industry is on the rise, and some real estate experts believe that its growth will accelerate rapidly over the next three to five years.

 

For answers to your real estate questions, call Allison at 970-468-6800. Email - [email protected]. Her philosophy is simple, whether buying or selling, she understands that the most important real estate transaction is yours.  Want to know the value of your Summit County property? Visit www.SummitHomeValue.com  

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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