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March 2017

Found 5 blog entries for March 2017.

The temps are a bit warmer and the days are a bit longer. We are starting to see little signs that spring is on its way. But don’t fret, March is the snowiest month in Breckenridge, so there should still be plenty of powder days ahead! This spring, take advantage of Breckenridge Associates Real Estate Top 5 deals. Get settled in while prices are good and interest rates are low.

 

Here are Breckenridge Associates Real Estate Top 5 deals for March 2017.

314 Peerless Drive
This elegant newly-completed Shock Hill home was masterfully executed by Ivan Stanley Fine Home Builders. Featuring timeless timber beams and dramatic stone work, this home will dazzle those with the finest taste. Set in the esteemed Shock Hill neighborhood of Breckenridge

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After January's rocket ship, Summit County real estate sales slowed in February, but the launch that began the year is the anomaly, not last months sales numbers.  January's record closings likely originated in the last months of 2016 from buyers positioning to get in front of any uncertainly from a new administration and possible rate increases.

February 2017 sales numbers were mixed by category, but lower than last years' numbers overall, although the sold price per square foot continues to increase. Summit County's real estate market is small compared to big cities and so total sales volume is always less important than the increase in value (selling price per square foot or acre).

Our relatively small marketplace feels very small in March 2017

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By May 1st, 2017 you should have in your possession a new Notice of Valuation (NOV) of your real property value as assigned by the assessor, and based on comparable sales. Average Summit County increases are (anecdotally, not scientifically- yours can certainly divert in either direction from here) 15-20%. You have until June 1st , 2017 to postmark your new value should you feel its unfair. Your evidence must be supported sales that you feel are a better comparison to your home than the ones used to create your new valuation.

What a great time to call your favorite Broker/Partner over at Breckenridge Associates Real Estate! We have access to all the sales records, a deep knowledge of the market and familiarity with the NOV form. We are happy to help-

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As the ski season winds down in the high country, and Front Range visitors begin to think about soccer and springtime, winter activities are still in full swing here in the mountains. As daylight hours lengthen and temperatures oh-so-slowly begin to climb, snow texture changes to spring conditions. And what conditions they are; from mashed potatoes to powder days, spring can hold it all. So what we are saying is- don't put your skis away just yet. This years gigantic snow totals means extended seasons for all the local mountains. Importantly, the lingering sunlight and warmer afternoons means après ski can begin to migrate outside to winters long neglected decks. And for some, après and skiing mix into one very special Summit County tradition- Beachin at

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In a long awaited move the Fed raised rates in December 2016 by half a point to .50% -.75%, after holding the overnight interbank lending rate a 0-.25%, (which is effectively zero percent) from June 2006 until December 2015. We are still at a historic, and some feel unhealthy, low rate.

Many market experts expect the rate, which reacts to an expanding economy and impacts the rate at which we can all borrow money, to rise possibly three more times in 2017.

The next Fed meeting is March 15-16 and as of this writing on March 3rd, expectations of a hike amongst market watchers and experts have recently jumped to just over 50%.

What this means for the housing market is higher mortgage rates, expected to top out at 4.3%. There are two ways to look at

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