Archive for October, 2010

Breckenridge Vacation Rental by Owner

Monday, 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

Monday, 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

Friday, 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.