Summit County Colorado Amateur Radio Emergency Service (ARES) Volunteers Wanted

October 21st, 2013

The Summit County Colorado Amateur Radio Emergency Service (ARES) was founded in early 2012 with four active members. Almost two years later, there are still just the same four active members.

The following is posted in an effort to help people realize how easy it is to become a licensed amateur radio operator:

The primary training materials for HAM licensing come from ARRL and are available through local libraries. Technician, General, and Extra class license manuals all come with exam review/study guide software on CD-R.

This software includes the current and complete question pools for each licensing exam along with answers and explanations for them!

There are also two free apps for android that are similar to the ARRL software: Ham Radio Study & Ham Test Prep. Both also use the complete and current set of questions and answers and can be set for Tech, General, and/or Extra.

Ham Radio Study chooses questions at random and tracks which you get right and wrong. Questions answered correctly get removed from the set. Questions not answered correctly remain in the set and you see them again until you do get them right. It is like having a set of question pool flash cards on your phone!

Ham Test Prep generates mock exams by randomly pulling the appropriate number of questions from each section of the question pool. And it grades for you as you go.

The ARRL exam review/study guide software is even better than both apps combined because it does everything they do, with Q&A explanations, and it let’s you flag specific questions for later study.

How much easier could it be? You can get the complete set of questions that will be used on your exam, all the answers to the questions, and explanations for all of the answers…all for free!

2013-14 Summit County Ski Season off to a good start

October 17th, 2013

It has been cold and snowing on and off all month.  Loveland Ski area opened today.  Arapahoe Basin opened last weekend.  And these are the projected opening days for other local ski resorts:

Keystone:  Friday, November 1
Breckenridge:  Friday, November 8
Vail:  Friday, November 22
Beaver Creek:  Wednesday, November 27

Breckenridge Colorado Investment Real Estate Under $600K

May 6th, 2011

Breckenridge Colorado is one of the most popular destination ski resorts in the world attracting over 1.5 million skier visits per year. And with a wide variety of film, music, theatre, and arts and crafts related events as well as all of the outdoor activities that the Rocky Mountains have to offer besides skiing, Breckenridge is a true four seasons destination resort. As a resort market, many considering the purchase of Breckenridge real estate do so with potential rental income as their primary criterion while shopping for property.

Individuals considering the purchase of a Breckenridge single family home as a rental investment property should determine if they prefer to rent the home to visiting tourists for short stays or to rent the home on an annual or seasonal lease basis. Potential Breckenridge house buyers should also consider whether they would like to use the services of a rental management company or to rent the home directly themselves. This is because Breckenridge homes which may not be of interest to local rental management companies for the purposes of short term tourist bookings may still have fairly good rental potential on a longer term lease basis or as a Breckenridge "by owner" vacation rental property.

Sleeping capacity is one of the main criteria that rental management companies will look at when considering a single family home in the Breckenridge Colorado area for short term rental purposes. All else being equal, larger homes with greater sleeping capacity are typically more appealing to Breckenridge rental management companies than smaller homes. Other criteria to be considered include proximity to the Breckenridge Ski Resort and the town of Breckenridge and whether or not the property is on one of the free public shuttle routes. Age and overall quality of an individual home and its amenities such as hot tubs, home entertainment centers, pool tables, etc. also attract the attention of rental management companies and help generate repeat visits by guests regardless of whether or not the property is being managed by a local booking company or being rented on a "by owner" vacation rental basis.

All of these same criteria apply when rental management companies consider a multi-family residence (i.e. condo, town house, triplex, etc.) except for sleeping capacity. In fact, studio condos are one of the most popular lodging options for Breckenridge rental management companies, visiting guests, and therefore Breckenridge investment property buyers alike.

Most rental management companies in Breckenridge Colorado focus on short term tourist rentals and will not accept into their rental management inventories most single family homes in Breckenridge that would sell for less than $600K. This is because such homes are typically smaller and older than the average Breckenridge home and are not located within walking distance of the Breckenridge Ski Resort chair-lifts or town of Breckenridge downtown area. Even Breckenridge homes on one of the the free public shuttle routes within this price range are few and far between.

But, there could be exceptions to this $600K rule, especially when it comes to homes located north of Breckenridge, between Breckenridge and Frisco. If a home with a value of less than $600K in this area has great mountain views, a private hot tub, easy winter access, and is of good overall quality, it could be of interest to Breckenridge rental management companies for the purposes of short term rentals (i.e. tourist bookings). One would have inquire with the property management companies in Breckenridge to see which might be interested in taking such a home into their inventory and what they would estimate its rental potential to be.

Also, many Breckenridge homes that are not of interest to local rental management companies can still generate rental income on "by owner" vacation rental web sites and/or they can be rented on a longer term annual or seasonal lease basis.

With all of this said, if rental income is the primary criterion for someone considering the purchase of Breckenridge real estate for less than $600K, a condo or townhome is at the very least worth considering as the revenue generated from such a property will often be greater than that of a comparably priced single family home.

As a general statement, sale prices of Breckenridge homes and condos have been effected by the market downturn of recent years in a similar manner.  However, to be more specific:

1) Larger, and therefore more expensive, single family homes have been somewhat more effected by the market downturn than smaller and less expensive homes. As of May 06, 2011 there were 218 single family homes on the market in the Breckenridge area. Of these, only 44 were priced under $600K. Within the previous year, there had been 171 single family home sales in the Breckenridge area and 53 of them sold for $600K or less. This means that within the under $600K price range, the supply of available homes and the demand for them is fairly well balanced with less than a one year supply currently on the market. In the over $600K price range, the market is over supplied which has more of a downward pressure on price.

2) Looking at the multi-family residence (i.e. condo, town house, triplex, etc.) market in a similar manner, as of May 06, 2011 there were 364 multi-family residences for sale in the Breckenridge area with 282 having sold in the previous 12 months. Within the under $600K price range, there were 227 active listings and 182 sales in the previous 12 months. Therefore, there is well over a 12 month supply of available listings in both the over and under $600K price ranges.

To summarize, the under $600K single family home segment of the Breckenridge residential real estate market is the strongest segment of the market when analyzed in the above supply vs. demand manner. It is also the segment of the Breckenridge real estate market with the least potential for short term rental income generated through Breckenridge based rental management companies.

It is also worth noting that the Breckenridge multi-family residence market has experiencing something of a resurgence in demand with sales up threefold from the first quarter of 2009 to the first quarter of 2011. If this trend continues through the rest of 2011, Breckenridge condos, town homes, and other multi-family residences could lead the price recovery of the Breckenridge real estate market. And potential appreciation is always a consideration for any Breckenridge investment property buyer.

Copyright 2011 – All rights reserved by Ted Amenta

Notice: Publishers are free to republish this article on an ezine or website provided the article is reprinted in its entirety including copyright and author information, and all links remain intact and active.

Living in Breckenridge Colorado since 1992 and a Breckenridge Real Estate Broker since 1998, Ted Amenta is the Broker/Owner of Amenta Real Estate specializing in Breckenridge investment property as well as 2nd home and vacation real estate throughout Summit County Colorado. Summit County Colorado is home to the ski areas of Breckenridge, Keystone, Arapahoe Basin and Copper Mountain as well as the nearby towns of Frisco, Dillon, Silverthorne, Blue River, Wildernest, and Heeney.

Summit County Colorado Real Estate Market Analysis – Q1 2011

May 1st, 2011

Summit County Colorado is located about 60 miles to the west of Denver and is home to the Vail Resorts, Inc. owned and operated ski resorts of Keystone and Breckenridge as well as two other popular ski areas, Arapahoe Basin and Copper Mountain. Lakes, rivers, hiking trails, and biking paths are only the beginning of the spring, summer, and fall attractions which also draw tourism from outdoor enthusiasts. As a result, Summit County Colorado is a true four seasons destination resort real estate market with a significant portion of rental investment properties. And it is Summit County investment property which is leading the Summit County real estate market resurgence from the 2009 market lows.

The Summit County real estate market had more sales in the first quarter of 2011 of both single family homes and multi-family residences (i.e. duplexes, triplexes, townhouses, and condominiums) than there were in the first quarter of 2010. Vacant land sales during the first quarter were the same between the two years. And the first quarter sales of both 2011 and 2010 were considerably more numerous than those of 2009 for all three property types.

The segment of the Summit County Colorado real estate market which has experienced the greatest increase in the number of transactions during recent years is that of multi-family residences (i.e. duplexes, triplexes, townhouses, and condominiums). During the first quarter of 2011, Summit County had 136 multi-family residence sales as compared to 108 and 84 such sales during Q1 of 2010 and Q1 of 2009 respectively. Most of the increases in Summit County multi-family residence sales during these years occurred in the Breckenridge area where investment property is often purchased for rental income purposes. During the first quarter of 2011, Breckenridge Colorado had 57 multi-residence sales as compared to 33 and 19 such sales during Q1 of 2010 and Q1 of 2009 respectively. Therefore, as Summit County as a whole experienced an increase of 24 multi-family residences sold between the first quarters of 2009 and 2010, Breckenridge alone experienced an increase of 14 such transactions with the remaining 10 transactions of the total county increase distributed elsewhere in Summit County which also consists of Frisco, Dillon, Silverthorne, Copper Mountain and Keystone. And as Summit County experienced and increase of 28 multi-family residence sales between Q1 2010 and Q1 2011, Breckenridge alone experienced and increase of 24 such transactions.

Summit County single family homes experienced increases in the number of transactions during the first quarter of 2011 when compared to Q1 of 2010 and 2009 as well. During Q1 of 2011, Summit County had 53 single family home sales compared to 51 and 40 such sales during the first quarters of 2010 and 2009 respectively. The majority of these home sales took place in the Breckenridge area. During the first quarter of 2011, Breckenridge Colorado had 33 home sales compared to 30 and 27 such sales during the first quarters of 2010 and 2009 respectively.

Vacant lot sales in Summit County during the first quarters of 2011 and 2010 were flat at 16 each year with both years being up from 10 land sales in Summit County during Q1 2009. Once again, the majority of these lot sales took place in the Breckenridge area. During the first quarter of 2011, Breckenridge Colorado had 10 lot sales as compared to 12 and 6 such sales during the first quarters of 2010 and 2009 respectively.

Although the number of Summit County real estate transactions have been up during the past couple of years, they are considerably below what they had been during 2005 and 2006 for all three property types. Q1 multi-family residence sales reached a high of 321 during 2006, almost two and a half times the 136 duplex/triplex/townhouse/condominiums sold in the first quarter of 2011. Q1 single family homes sales reached a high of 99 during 2005, almost double the 53 homes sold in the first quarter of 2011. And Q1 lot sales reached a high of 109 during 2005, almost seven times the 16 land transactions during the first quarter of 2011.

Summit County real estate sales prices in during the past few years have reflected the number of transactions taking place and vice versa. During 2009, many Sellers were unrealistic about what prices their properties could command and a large portion of Buyers were nervous about what the future might hold for the Summit County real estate market. The result was the fewest number of Summit County real estate sales in over a decade. During 2010, Seller expectations and Buyer confidence began to come more into alignment and the number of transactions increased. Residential real estate sales in Summit County for the year of 2010 were up about 10% over those of 2009, or 1012 vs 918 transactions. And during early 2011, this trend seems to be continuing. In general, real estate values have been down about a third from their highs for residential property and even more for land.

While the number of Summit County real estate transactions is up so far in 2011, the number of available properties for sale is down. On May 01, 2010 there were 1,589 active residential real estate listings and 390 active vacant land listings in Summit County Colorado. On May 01, 2011, there were 1,348 active residential real estate listings (241 or 15% fewer) and 369 vacant land listings (21 or 5% fewer).

With the number of Summit County real estate sales trending upward and the number of active Summit County real estate listings trending downward, as compared to previous years, there could be market fundamentals to support a pricing bottom. In fact, there have already been some sales this year which indicate prices moving up from previous lows. With the traditionally busy summer selling season around the corner, the next couple of quarters will determine if this is a continuing trend in the Summit County real estate market.

Copyright 2011 – All rights reserved by Ted Amenta

Notice: Publishers are free to republish this article on an ezine or website provided the article is reprinted in its entirety including copyright and author information, and all links remain intact and active.

Living in Breckenridge Colorado since 1992 and a Summit County Real Estate Broker since 1998, Ted Amenta is the Broker/Owner of Amenta Real Estate specializing in Summit County investment property as well as 2nd home and vacation real estate throughout Summit County Colorado. Summit County Colorado is home to the ski areas of Breckenridge, Keystone, Arapahoe Basin and Copper Mountain as well as the nearby towns of Frisco, Dillon, Silverthorne, Blue River, Wildernest, and Heeney.

Breckenridge Colorado Resort Real Estate Market Analysis – Q1 2011

April 6th, 2011

The Breckenridge real estate market is continuing to make a comeback from the market lows of 2009 and this comeback is being lead by Breckenridge investment property sales. The number of first quarter single family home sales are also up for the second year in a row. Vacant land continues to be the weakest segment of the Breckenridge real estate market. But even vacant lot sales have seen an increase during the first quarter of 2011 over those of Q1 2009.

The strongest segment of the Breckenridge Colorado real estate market is that of investment property. Located in Summit County Colorado, Breckenridge is one of the world’s premier ski resort destinations. In fact, the ski area has recently been the most popular ski resort destination in North America with well over 1.5 million skier visits. Breckenridge, Keystone (also located in Summit County Colorado), and Vail are often the top three ski resort destinations in the U.S. as measured in terms of skier visits. Summit County Colorado also offers a wide variety of non-ski related activities including hiking, biking, fishing, rafting, sailing, music and film festivals, performance arts, wine tastings, mining tours, art shows and competitions, and other community and privately sponsored events.

With all of these activities and attractions bringing tourists into the Summit County Colorado region, Breckenridge investment property (purchased and held for the purpose generating short term rental income) is a major segment of its real estate market. And while single family homes can be rented to visiting tourists as well, most Breckenridge investment property consists of multi-family residences (i.e. condos, town homes, etc.). During the first quarter of 2011, three times (300%) the number of multi-family residences sold as did during Q1 2009. This number for Q1 2011 was also nearly twice that of Q1 2010. The first quarter numbers of Breckenridge multi-family residence sales in 2009, 2010, and 2011 were 19, 33, and 57 respectively. It is also worth noting that there were two sales during Q1 2011 of multi-family residences which sold for prices in excess of $1.5 Million. These were the first sales of such properties in this price range since 2008.

Breckenridge single family home sales have also seen an increase during Q1 2011 when compared to the first quarters of 2009 and 2010. The first quarter numbers of single family home sales in 2009, 2010, and 2011 were 27, 30, and 33 respectively. This represents about a 10% increase in Q1 home sales over the previous year during each of the past two years.

Vacant land continues to be the softest segment of the Breckenridge real estate market. But even when it comes to vacant land, there are some signs of improvement in the market. The number of first quarter vacant lot sales in 2009, 2010, and 2011 were 6, 12, and 10 respectively. Therefore, during Q1 2010 there was a 100% increase in the number of vacant lots sold over Q1 2009. And while the first quarter of 2011 saw a couple fewer lots sold than Q1 2010, the number of sales was still well above Q1 2009.

It is worth noting that despite the recent increases of Breckenridge real estate sales, these sales numbers are still well off of their highs. First quarter multi-family residence sales peaked at 130 in 2006, more than twice the 57 condo/town home/duplex sales during Q1 2011. First quarter single family home sales peaked at 61 in 2005, nearly twice the 33 house sales during Q1 2011. And first quarter vacant land sales peaked at 84 in 2006, more than eight times the 10 lot sales during Q1 2011.

It is also worth noting that the increase in Breckenridge real estate sales across the three main property types (i.e. single family, multi-family, and vacant land) over the past two years can be attributed to a variety of factors with the decline of real estate prices being significant among them. Sale prices for residential real estate have been down approximately 33% and vacant land prices have been down approximately 40% from the market highs.

So far in 2011, the inventory of available Breckenridge real estate listings for sale among the various property types and within various price ranges is comparable to or below inventories during the same time last year. And in 2010, there was a federal tax incentive for prospective buyers to purchase real estate during the first half of the year which did not apply to the second half of the year. This had the effect of shifting purchasing demand from the second half of the year to the first half. Despite the lack of this federal tax incentive in 2011, demand for Breckenridge real estate during the first quarter of this year has exceeded that of 2010. And with a similar number or fewer available real estate listings on the market, prices may well stabilize or even experience some increases during the next three quarters of 2011. Only time can tell.

Copyright 2011 – All rights reserved by Ted Amenta

Notice: Publishers are free to republish this article on an ezine or website provided the article is reprinted in its entirety including copyright and author information, and all links remain intact and active.

Living in Summit County Colorado since 1992, Ted Amenta is a Breckenridge Real Estate Broker/Owner specializing in Breckenridge investment property as well as investment real estate throughout Summit County Colorado. Summit County includes the ski resorts of Breckenridge, Keystone, and Copper Mountain as well as the nearby towns of Frisco, Dillon, Silverthorne, Blue River, Wildernest, and Heeney.

More Breckenridge Investment Property

November 4th, 2010

The following is a continuation of the correspondence from 10/18/10.

Question: What is the name of the place by Quicksilver that is a bit less expensive than Beaver Run?

I expect that you are thinking of The Village at Breckenridge. There are currently two listings here, a 940 Sq.Ft. 1 bedroom for $499K and a 960 Sq.Ft. 2 Bedroom for $799K which had first come on the market over a year ago for $649K.

The Village at Breckenridge studios are located in a building called Liftside which currently has three listings priced between $299K and $359K.

There is also another building here with larger condos called Chateaux Condominium Hotel which currently has two listings. One is a 1267 Sq.Ft 2 bedroom for $725K and the other is a 1709 Sq.Ft. 3 bedroom for $899K.

This is all fairly light inventory for the Village at Breckenridge which has had a complete exterior renovation taking place all summer. I expect that when this work is done, we will see several new listings come on the market.

Another property near the Quicksilver lift is Main Street Station which also has good rental pontential. Prices here are typically higher than at Beaver Run. Prices at Main Street Station currently range from about $335K for a studio to about $1.7 million for a 4 bedroom.

Question: I have a hard time with the search because most searches yield several dozen real estate listings. What is the best way to limit the real estate search results?

The easiest way limit the search results will is to be as specific as possible, especially when it comes to price. Once you have a list of results, you can also use the "Map it" feature. For the best rental potential in Breckenridge, you will want to focus on properties close to the chairlifts and not give much consideration to anything East of Rt.9, south of River Park Dr, or north of Sawmill Dr.

And of course, I will be able to provide you with a list of the best properties once we narrow down the size and price range that you desire.

Question: How do inventories look compared to historical norms?

Part of the reason I started posting the Summit County real estate Active / Under Contract / Sold YTD tables was to keep better track of this info for myself. I have always paid attention to these numbers but not recorded them. When I saw 743 active residential listings in Breckenridge on 05/01/10, I thought we were on our way to reach 1000 active by the summer peak. This is something I have not seen before and we did not quite make it this year either. 945 active residential listings on 07/15/10 was the most I have seen in Breckenridge. But oddly enough, the 2105 for the county as a whole was not all that unusual for that time of year.

In general, I have found that 450 or fewer active residential listings in Breckenridge has meant a lack of inventory and 750 or more has meant an abundance of it. These numbers also vary with the season with the summer being the time of peak inventory.

Owners who do not sell during a given summer often decide to keep their properties for another ski season and try again the following year. This is especially true for rental properties.

With all this said, 808 active residential listings in Breckenridge on 10/15/10 means that there is certainly an wide selection of properties for you to consider.

As I look through the list of available condos in Breckenridge right now, I notice that all of the following buildings have multiple listings which could have some potential for you:

Beaver Run Condo, Cimarron Condo, Corral At Breckenridge, Der Steiermark, Condo Los Pinos, Main Street Junction, Main Street Station Condo, Mother Lode Condo, Mountain Thunder Lodge, Park Avenue Lofts Condo, Park Place Condo, Pine Ridge Condo, Powderhorn Condo, Retreat Condo, River Mountain Lodge Condo, Sawmill Creek Condo, Ski Hill Condo, Sundowner Condo, Tannhauser Condo, Trails End Condo, Twin Elk Lodge, Tyra Iv Riverbend Lodge Condo, Tyra Summit Condo.

Once I have an idea of your current price range, I will be able to narrow this list down quite a bit.

Question: The condo fees at Beaver Run say they include insurance. Do you know what type? Does it include loss of use? vandalism and theft?

The will be a question for the Beaver Run home owner’s liaison there but I very much doubt that any of the above would be covered. HOA insurance typically covers the restoration of the property after some kind of damage. The above sounds more like what would be covered by your own contents and/or renters insurance.

HOA insurance typically stops with the paint for a given condo. Anything on the inside the paint is up to the individual owner.

Questions: I see there is a three and four bedroom at Beaver Run, which I understand are pretty rare. What is the price history on units like these (may be spotty). The 4BR looks like the better deal. Do you know the 2009 rental income on the 3BR? Do you know owner usage of each unit? How do you think 2010 income will compare to 2009? What do you think of the location of each? I think the 3BR is in building II. I only know where building 4 is. Where is the 4BR?

There is currently a 4 bedroom at Beaver run for $799K and a 3 bedroom (really a 2 bed + loft) for $699K. Both are in building #2 which is the one to the right of the walk-way as one walks from the check-in/conference building to the ones where the condos are located.

The most recent sale of the 3 bedroom floorplan was in building #3 in May of ’08 for $795K. The most recent sale of this floorplan in building #2 was in Nov of ’04 for $530K. The most recent sale of the 4 bedroom floorplan was in building #2 in Dec of ’04 for $663K.

I have links to rental histories for Beaver run posted here:

http://www.amenta.com/breckenridgerealestate/beaverrun.htm

The listing details state that the 2009 gross rental income for the 4 bedroom was $68,290. However, this is also the number given for the average of condo of this type.

The listing details for the 3 bedroom show gross rentals of $41,842 in 2009 and also mention that the property was not being rented for part of the year.

Specific owner use is rarely available at Beaver Run as the rental management company does not provide this and few owners track this for themselves.

The rental figures that I have pulled for various condos so far this year have been fairly consistent with those of last year for properties within a similar price range. I would not try to guess what future rental income might be for any given property. Snowfall plays a major factor here as does the overall economy. However, www.summitdaily.com sometimes has articles which mention the projections of Vail Resorts (which owns the Breckenridge Ski Area) and advance booking figures from a variety of sources.

Question: I thought I read that Beaver Run will likely build more units. How will this affect value of existing units? Where would the new buildings go?

I would be interested to see what your read and where. I made some phone calls on this and was told that for density reasons, there is nowhere for new buildings to go and there are no plans to build new units.

Breckenridge Vacation Rental by Owner

October 18th, 2010

More correspondence, this to an individual considering the purchase of a 2 or 3 bedroom Breckenridge condo in the $275K to $325K price range which he can rent out himself:

Many Breckenridge investment properties have listings on VRBO.com here:

Breckenridge Vacation Rental by Owner

The only 3 bedroom under $300K within walking distance to the lifts is a Ski & Racquet listing. And this is a long walk and I expect that most guests staying here would take the free shuttle which has a stop on site.

All of these properties can be sorted as follows:

Easy walk to and from slopes and lifts:

GRANDVIEW AT BRECKENRIDGE CONDO
MINERS CANDLE CONDO
TANNHAUSER CONDO
WILDWOOD LODGE CONDO – From trail

Long walk or shuttle:

FOREST HAUS CONDO
GOLD CAMP CONDO
SKI AND RACQUET CLUB CONDO
WILDWOOD LODGE CONDO – To lift

At least a few of miles away:

LODGE AT 39 DEGREES NORTH CONDO – South of town
VILLAS AT SWANS NEST CONDO – Between Breck and Frisco

Breckenridge investment real estate Q&A 10/18/10

October 18th, 2010

The Breckenridge Ski Area is scheduled to open in 25 days and this means that those considering the purchase of Breckenridge investment property are beginning to do their homework once again in order to get their purchases made by the beginning of the peak rental season.

The following is an example of some recent correspondence with more to follow:

Question: How is real estate in Breckenridge these days? Prices? Rental income?

Answer (and a long one):

Breckenridge real estate sales volume, prices and rental income are all off of their highs, reflecting the economic downturn, and the ratio between prices and income has remained fairly consistent.

I have general market data posted here:

Summit County Real Estate Market Data

The Land Title Summit County Gross Real Estate Volume chart shows 2010 sales volume similar to that of 2009. I also track active listings, under contracts, and sales at the bottom of the page here:

Summit County Active Listing / Under Contract / Sold YTD tables

Highlights of the 10/15/10 data are as follows:

1) There are about 300 fewer residential properties on the market in Summit County now as compared to the inventory peak of 07/15/10. In Breckenridge, this number is 137.

2) For the county as a whole, there have been 200 fewer sales residential sales YTD than there were in all of 2009 with 219 currently under contract. In Breckenridge, there have been 69 fewer sales YTD as compared to all of 2009 with 100 currently under contract.

3) Summit County land sales YTD is only 1 shy of the 2009 total. In Breckenridge there have already been 3 more land sales than in all of 2009.

Inventory is down across the board when compared to the summer months and you can see the current inventory and pricing here:

Summit County Real Estate Search

I posted the following info in mid-August and it will give you an idea of how prices have moved off of their highs:

Beaver Run Building #4 Sales

A few more examples are as follows:

1) I recently closed on a Lodge at Riverbend condo for $370K which could have sold for as much as $495K at the peak of the market.

2) This summer, I saw Treehouse condos selling in the $160K range which had been selling in the $200K to $220K range at the market highs.

3) I currently have a lot listed for $325K which could have sold for $500K to $525K at the market peak.

Breckenridge Ski School ’10-’11 Holiday Calendar

October 15th, 2010

Consistently rated in the top 10 by Ski Magazine, and other leading industry publications, Breckenridge Colorado is one of the world’s premier winter resort destinations. And with annual skier/snowboarder visits consistently in the 1+ million range, chairlift lines can be an issue for some snow sliding guests during the days of peak visitation.

It is during these times of year that the luxury of using the lift access areas set aside for the exclusive use of Breckenridge Ski School customers takes on added value. The dates expected to be particularly busy at the Breckenridge Ski Resort during the 2010-2011 winter season are as follows:

Nov 25, Dec 19-21 and 26-31, Jan 1 and 14-15, Feb 18-24, Mar 13-17 and 20-23, Apr 18-19.

These dates are clustered around national holidays as well as the scheduled winter and spring breaks of colleges and high schools throughout the United States. Therefore, these peak traffic dates can be expected to apply somewhat to all of the destination ski resorts around the USA, not just those in Summit County Colorado.

As these are also the times of year when private ski and snowboard lessons are at their highest demand, it is best to reserve such lessons well ahead of time whenever possible. Otherwise, there is always the chance that instructors may not be available for the desired date(s) and time(s). Private ski and snowboard lesson reservations should typically be made once travel and lodging booking have been made.

Private ski and snowboard lessons have several advantages over group instruction, all of which revolve around the fact that they are customized sessions uniquely tailored to each individual. This allows for accelerated learning as well as increased flexibility of lesson plans and skiing and snowboarding experiences. For example, friends and families which hire their own private instructor are able to keep individuals of various ages and abilities together during the session.

On the other hand, group lessons allow guests the opportunity to meet other snow sport enthusiasts of similar abilities and ages.

Guests who do not wish to participate in a ski or snowboard lessons, but who still want to to their best to avoid the longest lift-lines of the day, would be well served by planning to load the chairlift during off peak traffic times of the day. The times of day when the most people are approaching the chairlifts is typically when the group ski and snowboard lessons are just getting started in the morning and right after their lunch break. For the Breckenridge Ski School, these times are 10am and 1:30pm. Even during the busiest times of year, chair-lift lines are rarely much of a factor prior to 9:30am, between 11:30am and 1pm, and after 2pm.

And whether taking lessons or not, eat a big (and nutritious!) breakfast before coming to the ski area, pack a light lunch and some water, and avoid the peak cafeteria and restaurant crowds between noon and 1:30pm.

Copyright 2010 – All rights reserved by Ted Amenta, Breckenridge Ski School ski and snowboard instructor.
Notice: Publishers are free to republish this article on an ezine or web site provided the article is reprinted in its entirety including copyright and author bio information, and all links remain intact and active.

Ted Amenta is a Children’s Specialist II accredited PSIA Level III and AASI Level II certified Breckenridge Ski School ski and snowboard instructor as well as a Breckenridge Real Estate company Owner/Broker.

Breckenridge Land Sales Still Down

July 3rd, 2010

The Breckenridge Colorado real estate market is feeling the effects of the Great Recession. Breckenridge homes, condos and land have all seen an increase in the available inventory and a reduction in the number of sales when compared to the market highs during the 2005-2007 time frame. This has lead to a reduction in sale prices for all three property types.

Breckenridge land sales have been especially hard hit. In 2006 there were 260 vacant lots sold in Breckenridge. In 2009 there were only 40. And about half-way through 2010, it would appear that this year is going to be about the same as last.

The decline in land values that have resulted from the reduction in the number of transaction has been dramatic. The following are just a few examples of Breckenridge Colorado land sales during the past year showing the magnitude of the losses that vacant lot Sellers are experiencing:

1. LOT 146 HIGHLANDS AT BRECKECKENRIDGE (835 GOLD RUN ROAD) : The Seller had paid $550,000 for this land on 05/31/07 and sold it for $403,000 on 08/14/09.

2. LOT 200 HIGHLANDS AT BRECKENRIDGE (834 PRESTON WAY) : The previous owner of this land had paid $427,500 for it on 07/24/07. Now the bank has it under Contract after having listed it for a price of $297,900.

3. LOT 109 HIGHLANDS AT BRECKENRIDGE (517 HAMILTON COURT) : The previous owner of this vacant lot bought it for $435,000 on 10/01/07. Now the bank has it listed for $265,500.

The above are just a few examples. There are many more like these in Breckenridge and all throughout Summit County Colorado. And land value loss paints only part of the picture when it comes to the Breckenridge Colorado land market. Another important aspect of this market is the relation of available land inventory to the number of vacant lot transactions taking place.

As of this writing, there are 283 vacant lots for sale in Breckenridge Colorado. This is more than has ever sold in a single year and is about 6.5 times more than has sold in the previous 12 months. This concept can be further broken down by price range:

  • Between $250K and $400K, there are currently 51 active vacant lot listings with 8 closings in this price range during the previous 12 months. This equates to about a 6.5 year available inventory.
  • Below $250K there are currently 111 active vacant lot listings with 21 sales in this price range during the previous 12 months. This equates to about a 5.25 year available inventory.
  • Above $400K there are currently 124 active vacant lot listings with 15 sales in this price range during the previous 12 months. This equates to about a 8.25 year available inventory.

By comparison, there is about a 2 year inventory of single family homes for sale in Breckenridge and about a 2.25 year inventory of multi-family properties (i.e. condos, townhomes, duplexes, etc.).

Of course all of this is bad news for those who have Breckenridge Colorado real estate for sale. But it could be great news for those looking to buy Breckenridge real estate, especially when it comes to those interested in purchasing vacant land.

If you would like to learn more about the Breckenridge land market, contact Ted Amenta – Breckenridge Colorado Real Estate Broker at (970) 453-8025 or visit http://www.amenta.com/ for listing details and photos of all active Summit County Colorado real estate listings.

Copyright 2010 – All rights reserved by Ted Amenta
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