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Predictions for the New Year

by Allison Simson

Predictions for 2014: Sales Will Surge

Many housing pundits are calling for home sales to do slightly better in 2014 than they did in 2013. To the contrary, we strongly believe that home sales will skyrocket with increases of 10-15% in 2014. Here are the three categories of buyers we believe will create this strong demand.

The First Time Buyer

The Urban Land Institute recently released a report, Emerging Trends in Real Estate 2014, projecting that 4.48 million new households will be formed over the next three years. Millennials will make up a large portion of these new households. With the economy improving, we believe they will finally be moving out of their parents’ homes and, when they compare renting versus buying, many will choose homeownership.

The Move-Up Buyer

Over the last several years many homeowners were trapped in their home by negative equity. This prevented them from moving up to the home of their dreams. Zillow has just revealed that home equity increased by $1.9 trillion dollars in 2013 an increase of 7.9% in the last twelve months. With home values rising, this pent-up demand will finally be released and move-up properties will be in high demand.

The Immigrant Buyer

No one knows what will happen with immigration reform. However, we do know what such reform would have on housing demand. A recent study released by the Immigration Task Force of the Bipartisan Policy Center (BPC) found that immigration reform, if passed, would dramatically increase demand for housing units; increasing residential construction spending by an average of $68 billion per year over the next 20 years.

We realize that our projections are based on three situations that are still uncertain. However, we believe that these issues will come to fruition and thereby dramatically increase demand for homeownership.

What Will Matter

by Allison Simson

Happy Tuesday Morning to YOU!

Every year at this time we can't help but stop and see how much we have to be grateful for.  We are so lucky to work with amazing people from around the world and to enjoy the support of a great group of humans who we truly love!  Thank you from the bottom of our hearts for being a positive part of our world! 

What Will Matter “Ready or not, some day it will all come to an end.   There will be no more sunrises, no minutes, hours or days.   All the things you collected, whether treasured or forgotten, will pass to someone else. Your wealth, fame and temporal power will shrivel to irrelevance.    It will not matter what you owned or what you were owed.

Your grudges, resentments, frustrations and jealousies will finally disappear. So too, your hopes, ambitions, plans and to-do lists will expire. The wins and losses that once seemed so important will fade away. It won't matter where you came from or what side of the tracks you lived on at the end. It won't matter whether you were beautiful or brilliant. Even your gender and skin color will be irrelevant.

So what will matter? How will the value of your days be measured? What will matter is not what you bought, but what you built; Not what you got, but what you gave. What will matter is not your success, but your significance. What will matter is not what you learned, but what you taught. What will matter is every act of integrity, compassion, courage or sacrifice that enriched, empowered or encouraged others to emulate your example. What will matter is not your competence, but your character.

What will matter is not how many people you knew, but how many will feel a lasting loss when you're gone. What will matter is not your memories, but the memories that live in those who loved you. What will matter is how long you will be remembered, by whom and for what. Living a life that matters doesn't happen by accident.

It's not a matter of circumstance but of choice.

Choose to live a life that matters.”                                                                                      
                              ~ Michael Josephson

One of the best things about living and spending time in Summit County, Colorado is the chance to get quiet and still and enjoy the quiet snowfall in the beauty of the majestic mountains.  This holiday season, we hope for you and yours love, peace and some stillness!

See you on the slopes!

Warmly,

Allison Simson, Owner/Broker
Kelie Gray, Buyer Specialist
Sarah McNeill, Buyer Specialist
Glenda Pfeifer, Buyer Specialist
Jen O'Neill, Client Care Manager
Margaret Bowes, Transaction Coordinator

Buying a Home? Consider COST Not Just Price

by Allison Simson

Buying a Home? Consider COST not just Price

Posted: 18 Nov 2013 04:00 AM PST

bigstockphoto_Property_Prices_814896We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. Let us explain.

Last month, the Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about one full percentage over the next twelve months. We also know that many experts are calling for home prices to also increase over the next year.

What Does This Mean to a Buyer?

Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 even if home prices don’t increase:

Cost Waiting blog

If you were in the mountains, you know that the weather was glorious and that lots of people were here!  The kick-off to summer is here and we are busy! 

Are you curious how the market is doing in Summit County, or specifically in any of our charming towns?  Here is the run-down:

1) Breckenridge
2) Dillon
3) Frisco
4) Keystone
5) Summit_County_Update
6) Wildernest / Silverthorne
 

For more specific information about any particular complex or subdivision, give us a holler!  We can give you all the details to help you make informed decisions about Summit County real estate! 

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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