Breckenridge Associates
Real Estate

Our monthly stats reports on local real estate  have shown steady growth year over year in Breckenridge, Summit County and Park County sales transactions.  We’re confident the local real estate market is well on its way to recovery and it only helps to take a broader look at what national real estate experts have to say about the housing market nationwide. Recovery of the housing market should continue through the coming years, assuming there aren’t further limitations on the availability of mortgage credit or a “fiscal cliff” according to forecast presentations at a residential forum at the 2012 REALTORS® Conference and Expo. Lawrence Yun, chief economist of the National Association of REALTORS said the housing market clearly turned around in 2012. “Existing-home sales, new-home sales and housing starts are all recording notable gains this year in contrast with suppressed activity in the previous four years, and all of the major home price measures are sho...

Fannie Mae’s economists expect home sales to increase approximately 9 percent this year from last year’s levels. Their team of experts believe home prices hit bottom earlier this year. They state, record low mortgage rates and the Federal Reserve’s latest round of mortgage backed security purchases combined with current pricing will likely bring more buyers into the housing market.   Nationwide, they’re expecting sales will round out at 4.98 million this year and increase to 5.19 million units next year (for the first time in years). Fannie Mae’s team is estimating a rise of 2.9% in prices.   Locally, we’ve experienced year over year sales growth in Breckenridge as well as the Summit and Park County markets. Breckenridge has grown 10% in residential real estate sales over last year through October and Summit and Park County has experienced 18% growth. Now is the time to buy real estate! Are you interested in learning more about real estate opportunities in Breckenr...

In the early-to-mid 2000s, when our resort economy was growing at a rapid pace, many homeowners were dreaming of that second home purchase for vacationing or retirement. However, during this time housing prices skyrocketed and grew out of reach for many. Those same homes you may have eyed in that time period deserve a second look in today’s economy. Prices have since dropped in our local market. Interest rates combined with great deals may have now turned your dream home into a bargain. This table shows the difference in home prices and mortgage rates from 2006 compared to today. *Freddie Mac Rate Suddenly this may place your dream home back in reach. Now is the time to buy! Are you interested in learning more about real estate opportunities in Breckenridge, Summit and Park Counties? Contact us today and let us help make your dream home a reality. Please contact your Broker at Breckenridge Associates Real Estate to learn more about the incredible opportunities available tod...

As the season changes from summer to fall with winter on our minds, we’re seeing some shifts in the local real estate market pertaining to both buyers and sellers. It's time to get serious about moving forward with your mountain property. Buyers, let’s get serious about ski season. If you want to make a move and lock down a property in time for ski season, you need to act now. This is your chance, and this is the year. Not only are mortgage rates at all time lows, great deals are to be had and sellers are reviewing their prices and may be more motivated to sell as summer comes to a close.  The difference between a rate of 4% and 5% on a 30 year mortgage loan of $600,000 can amount to $128,000 over the life of the loan, or $350 each month. Current mortgage rates have dropped as low as 3.625%.  If you are waiting for the Real Estate market to drop another 1% or 2% before you buy, consider the following. If rates go up just ½% you will possibly pay $15,000 less for th...

We’ve all heard the statement, “It’s a Buyers’ market, buy now,” when referring to the current state of the real estate market. In February, Warren Buffett was quoted saying, “If I had a way of buying a couple hundred thousand single- family homes I would load up on them.” Locally, we’ve seen potential Buyers emerging in Summit County. In 2011, there were nearly 25% more property showings by our office alone when compared to 2010. Additionally, 2011 Breckenridge real estate sales were up 20% over the previous year. What are current trends in the Breckenridge market? Below, we take a closer look at sales prices, mortgage rates, inventory and foreclosures and what they mean in our local real estate market. Question: Are prices still dropping or has Breckenridge stabilized? Answer: Pricing in the Breckenridge market seems to have stabilized. Due to the greater number of transactions in 2011, the real estate community is able to establish value, which gives both the Buyer and t...