Real Estate Information Archive

Blog

Displaying blog entries 1-3 of 3

Lake Dillon is looking GOOD!

by Allison Simson

Happy Tuesday Morning to YOU

Thank you to all that attended our client appreciation party in Dillon on Saturday!  The weather was beautiful (not a raindrop in sight!) and the food was delicious (as usual, thanks to Doug and Julie at Bonnie Q BBQ).

I was sailing on Lake Dillon on Sunday and I can "officially" say that the lake is as full as I've seen it in a long time!  It's not quite spilling over the Glory Hole near the dam, but it is damn close!

Here is some interesting info about the lake level:

After a big weather turnaround in April and May, Dillon Reservoir is well on its way to filling, with the water level reaching an elevation of just about 9,008 on June 13, just nine feet below capacity. The last time the water level was this high was July 26, 2012. “We think it’s likely we’ll fill or at least get within a few feet of full elevation,” Denver Water spokesperson Stacy Chesney said.

Peak inflow into the reservoir was June 10, with the mainstem of the Blue River and the rest of the basin tributaries combining to deliver 1,754 cubic feet of water per second. The inflow hovered around that level early in the week, and started to drop a little bit by Thursday and Friday as the snowpack at higher elevations dwindled. By June 14, most of the automated SNOTEL sites had melted out, making it more difficult to assess how much runoff is still to come…

Chesney said Denver Water projects releasing between 50 and 100 cfs down the Lower Blue the next few months and will also divert water through the Roberts Tunnel to the South Platte, currently flowing at a rate of about 150 cfs.

Overall, Denver Water’s storage in the South Platte system is nearing capacity. Antero Reservoir just two feet below full and Eleven Mile Reservoir is at capacity, holding more than 98,000 acre feet. On the West Slope, Williams Fork Reservoir, Denver Water’s other big bucket, is about five feet below full, holding 89,000 acre feet, with a capacity of 97,000 acre feet.

Green Mountain Reservoir, administered by the U.S. Bureau of Reclamation, has also bounced back from what looked like it was going to be a woeful summer. As of mid-June, Green Mountain was about 76 percent full and still rising, according to BuRec spokesperson Kara Lamb.

I have it on good authority from Bob Evans, Dillon Marina Manager, that Robert's Tunnel (which leads water out of Lake Dillon to the lower reservoirs as Denver's water supply) is closed right now because the lower reservoirs are at capacity!  Thank you mother nature for the abundant rain this summer! 

And Here's Your Morning Coffee!

News and Views is Here!!!!

by Allison Simson

Happy Tuesday to YOU!

Hope your holiday weekend was full of fun! 

Hot off the Press - Summit County, CO News & Views Real Estate Report

We just released the summer edition of Summit Real Estate News & Views, our recap of the local real estate market trends as the year gets underway as well as local information and the summer events calendar!

Here is the link for the Summer 2013 Real Estate News & Views! .

Enjoy it, and as always, if you would like more specific information about any particular segment of the market or complex, please reply to the email and we'll get you some information ASAP! 

And Here's Your Morning Coffee!

Where are interest rates headed?

by Allison Simson

Happy Tuesday morning to YOU!

Lots in the news about the interest rate rollercoaster.  Here's what you need to know:

Today’s $20,000 question is…Where are mortgage rates headed in the near future? Most believe the rapid rise in rates experienced over the last month will not be sustained and that they will level off into a range between 4% and 5%.

When recently asked, Zillow’s director of Mortgage Marketplace, Erin Lantz suggested:
~“It is impossible to predict. However, we expect there to be a lot of volatility, probably between 4.5% to 5%.”

In Bankrate.com’s Mortgage Rate Trend Index last week, 20% of the experts said rates would go up this week, 30% said rates would go down and 50% said they would remain unchanged.

What about going forward?
 

Doug Duncan, chief economist for Fannie Mae recently addressed where mortgage rates may eventually end up:
~“I don’t think the Fed ultimately would be troubled with a 6.5% mortgage rate.”
Why wouldn’t the Fed be troubled? They have artificially kept rates low in order to stimulate the economy. As economic indicators begin to show signs of a recovery, the stimulus will be pulled back and rates will rise.

 

Frank Nothaft, Freddie Mac’s VP and chief economist confirms this:
~“As the economy continues to improve, we expect to see continued upward movement in long-term interest rates.”

Buckle in!! The rollercoaster ride will probably continue.

We hope you get some Summit County mountain time this summer.  As one of my friends recently said, "The heat wave here in the mountains is killing me!  It got up to a blistering 76 degrees yesterday!"  :-)

Displaying blog entries 1-3 of 3

Syndication

Categories

Archives

Share This Page

Contact Information

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