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What your money can buy ~ The perfect mountain home in Summit Cove

by Sarah McNeill

Buck Ridge Townhome – Summit Cove

It’s the perfect mountain home. This gorgeous two bedroom, two bathroom townhome is split over two levels with vaulted ceilings and attached oversized garage. High end finishes include slate, granite, stainless steel appliances, stone fireplace, log accents, washer/dryer, 6 panel doors, large deck with mountain views plus ground floor patio. Just a few steps out the back door and you are in the hot tub. The playground is located in a park like setting plus a grilling area for those group gatherings!  The bike path is right outside the front door plus you are so close to the Keystone Ranch trails including the Nordic Center. Walk to Lake Dillon, the Cala Inn and the Summit Stage bus stop. Minutes to Keystone, Arapahoe Basin and Breckenridge.

Listed for $320,000, 80 Stag Trail will go fast.

Don’t wait, give your broker or Summit Real Estate a call to see this bright and updated townhome today! 

   

Looking to Buy?  Not ready to speak to a broker?  Visit
www.SummitHomeBuyer.com

Meet Sarah McNeill, at Summit Real Estate-The Simson Team. Devoted to  working with Buyers, Sarah can be reached at (800) 262.8442 or (970) 468.6800, www.SummitRealEstate.com or email at  [email protected]

Sellers: Real estate agents can't read your mind

by Allison Simson

 

Make your expectations known and stay involved in the process.

Question:  Allison, We are in the process of listing our ski-in ski-out condo at Keystone, CO.  We live in Minnesota and are hoping we can get one of our friends who lives in Summit Cove to help us with the sales process.  What should we look out for?

Answer: The chores of listing and selling a home should not be taken lightly, nor handed off -- especially in this market.

Typically, when you contract a real estate broker to help sell your home, you are promising to pay for services rendered if the broker finds a person ready, willing and able to buy your home.

According to Tom Kelly, Inman News, the first thing to remember is that nobody can read your mind. Make sure your agent knows your concerns and keep all communication lines open.

In two recent cases he spoke about, expectations were not expressed, mainly because the sellers -- an executive at a financial services company and a retired couple -- were constantly on the road.

The couple chose to continue touring the country in their RV and asked one of their children to be the point person with the real estate agent for their waterfront getaway. The executive, in a similar fashion, turned over tasks related to selling her downtown condo to her office secretary.

Both sellers returned home and were unhappy with the way their homes were being marketed. The couple felt that ads describing their home were poorly written, for-sale signs were not properly placed and that the agent was not doing enough to get other agents to preview the home.

The executive expected her downtown condo to be better exposed to the in-city business community. She said she felt there were more aggressive, creative agents in the industry than the one she hired.

What both parties did not do was work directly with the agent, leaving assumed requirements and expectations to fall between the cracks. Frustrated and upset, each seller wanted out.

Could they rescind the listing agreement without the broker's consent? When a seller elects to cancel, is the broker entitled to a commission?

  • The seller can usually cancel the listing agreement at any time, whether or not the seller has legal grounds to do so. A listing agreement typically creates what is known as an "agency agreement" with the broker, and it can be canceled by the principal (seller). It's always best to cancel in writing.
  • If the seller cancels the agreement without having legal grounds, the broker could be entitled to payment. Legal grounds for cancellation include broker malpractice, violation of the broker/agent fiduciary duty, or breach of contract by the broker. If the broker is not at fault, the broker could be entitled to "damages" even if the house does not sell during the unexpired term of the listing.

Damages could mean advertising costs and other out-of-pocket expenses in servicing the listing. If the house sells during the unexpired term of the cancelled listing, the law presumes that the terminated broker would have made the sale, thus entitling the broker to a commission. However, if the seller can prove the broker would not have made the sale, the seller can avoid payment of the commission.

Most of the time, a seller can cancel a listing with one agency and move it to another broker in the same multiple listing service (MLS) and be liable for only one commission.

For example, if you cancel your listing with Billy's Real Estate and move it to Nancy's Real Estate, and both are members of the same MLS, you usually are relieved of your obligations to Billy by paying Nancy a commission when the house is sold.

When you sign a listing agreement, you are actually agreeing to work with the agency and its boss, or broker. Many agents also hold the "broker" designation, which means they have undertaken additional classroom instruction and testing.

Be realistic when you sign a listing. Discuss all services, explain your expectations and don't expect miracles. Interview a few agents even though you might already be dead-set on one to represent you. Check references and then choose the one you think will do the best job.

And plan on staying involved after the initial agent interview. Your secretary may be worth a million bucks inside the office, but you should be the point person on all sales matters regarding your home. Inman News.

 

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  

What your money can buy ~ Your little ski getaway!

by Allison Simson

Your little ski getaway!

This cute little townhome is minutes to Keystone, and walking distance to Lake Dillon.  It has 708 square feet with one bedroom and one and a half baths. You walk in on the main floor to a large, open living space with a wood burning fireplace and light Pergo floors.  With all the space in the living room, you could easily add a Murphy bed for overnight guest. The kitchen has a breakfast bar, plus there’s plenty of room for a dining table.  Upstairs you’ll find a loft style bedroom with a half bath, and your very own rock climbing wall!  There’s no need to haul your laundry, because it comes with a washer and dryer. Because it’s an end unit you’ll love the privacy, and the extra windows make it light, bright and cheery!

The Association Fees are $123 per month which includes cable TV, water/sewer, snow and trash removal, common area maintenance and insurance.  This property is located at 256 Cove Boulevard in Summit Cove.  The Summit Stage stop and bike trails are just steps away.

Priced at $145,000.00 makes this townhome a must see for a local who is now ready to buy, or the weekend warrior wanting to own a piece of Summit County! 

  

View www.SummitHomeBuyer.com and meet Lynn Sustad, Kelie Gray and Anna Willis, the Buyer Specialist Team at Summit Real Estate – The Simson/Nenninger Team. A member of the team can be reached at (800)-262-8442 or (970)-468-4600. www.SummitRealEstate.com

Don't buy home without checking title report

by Allison Simson & Joyce Nenninger
Liens and easements could make purchase a bad move
How would you feel if you bought a home that seemed perfect, only to find out you couldn't use the property like you thought you could?
One buyer bought a home with a good-sized yard that he thought would be perfect for his large dogs to roam free. Soon after the sale closed, he hired a contractor to construct a fence around the property. The day the work started, a neighbor showed up to inform the new homeowner that he couldn't completely fence the property because of an easement that ran across his property.
An easement grants property rights to someone other than the property owner. Common easements are for ingress and egress, utilities and sewers. Easements must be kept unencumbered.
In the case above, the easement provided the neighbors access to their property. A fence could not be built over the easement because it would deny the neighbor their rights to access.
The property owner had to revise his fence design, which was disappointing. But, easements can be even more problematic, particularly if you assume there is an easement in favor of your property but there isn't.
According to Dian Hymer of Inman News, A homeowner in the Oakland Hills (Calif.) subdivided his property and sold off the lower half to a builder who constructed a new home on it. The homeowner then put his home on the market and entered into contract to sell it.
The buyer's real estate agent reviewed the preliminary title report and found that there were no easements either benefiting or restricting use of the property. In particular, there was no sewer easement.
The agent asked the seller how the sewer line from the house connected to the main city sewer line. It turned out that the sewer line ran downhill across the portion of the property that had been subdivided and sold.
In this case, an error of omission occurred during the subdivision process. A sewer easement should have been granted in favor of the owner of the upper portion of the property. Consequently, the owner of the upper property no longer had a legal right to run his sewer line across the adjacent property.
HOUSE HUNTING TIP: Make sure you have a clear understanding of the title issues affecting a property before you buy it. In some states such as California, title companies check the record and issue a title report that includes such things as the recorded owner and liens, easements and encumbrances affecting the property. In other states, buyers hire attorneys to search the title record and produce a report.
In the aftermath of the subprime lending crisis, it's especially important to investigate the status of any liens secured against the property. A preliminary title report will give you the original amount of such items as mortgages and taxes owed. But, the preliminary report won't necessarily tell you the amount the sellers currently owe.
All liens secured against the property must be paid in full in order for the seller to pass clear title to a buyer. If the seller has an interest-only mortgage and has not made any payments toward retiring the principal amount borrowed, he could still owe the original amount he borrowed. If the mortgage was a teaser-rate adjustable with an option to pay the minimal amount due, the seller could owe more than what is indicated on the title report.
THE CLOSING: Problems that could delay or derail closing can develop when the owner of record is not the same person who listed the property for sale. Before concluding a home purchase, make certain that the seller has the power of sale and that the property you're buying is what you bargained for.
Dian Hymer is author of "House Hunting, The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide," Chronicle Books.
 
 
For answers to your real estate questions, call Allison at 970-468-6800 or 1-800-262-8442. Email - [email protected] or visit their web site at www.SummitRealEstate.com. Allison is a long time local in Summit County. Summit Real Estate – The Simson/Nenninger Team is located at the Dillon Ridge Marketplace. Allison’s long-time residency and years of real estate experience can help you make the most of any buying or selling situation. She’s a Certified Residential Specialist (CRS), the highest designation awarded to a Realtor in the residential sales field. Her philosophy is simple, whether buying or selling, she understands that the most important real estate transaction is yours.  

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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