Many people ask us whether they should hire an agent to sell their home or whether they should first try as a For Sale by Owner (FSBO). In today’s volatile market, we believe this is an easy decision: you need an experienced professional!
You need an expert guide if you are traveling a dangerous path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a buyer willing to pay fair market value for your home at a time that there are mass inventories of foreclosures and short sales will take a true real estate professional. Finding reasonable financing can also be tricky in today’s lending environment.
You need a skilled negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible re-negotiation of that off after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.
Bottom Line

We believe that famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

The slopes have closed (except A basin and Loveland) we are getting days of warm weather in the 50′s and snowy days in the 20′s. The town is clearing out and mud season is about to start in a week or so. Many businesses closed during May and others stay open and offer specials like 2 for 1 dinners. We had an amazing ski season with over 500 inches of snow and great tourism because of the heavy snowfall. Many sellers are starting to put their properties on the market now that rental income is over for a few months. It’s an excellent time to look for great deals as they are out there!

In an effort to keep my readers up to date on market and real estate finance, I consider this post essential for people that are on the fence about buying real estate. Many changes are coming and most are not good for buyers. Here are 4 reasons you might want to consider buying now and not waiting.

1. INTEREST RATES ARE GOING UP- The rates have increased about 3/4 of a point in the last six months. Experts in finance expect rates to continue to rise through this year. When buying there are 2 factors to consider. Interest rates and prices. Even with prices softening in some parts of the country, if interest rates rise, it may be less expensive to buy now rather than wait.

2. 30 YEAR MORTGAGE MAY DISAPPEAR- The federal governments role in providing support for home ownership is being discussed and debated. If Fannie Mae and Freddie Mac’s roles are eliminated or limited, it may mean the end of the 30 year mortgage.

3. QRM REQUIREMENTS COULD BE MUCH MORE STRICT- QRM’s are Qualified Residential Mortgage. Here are some of the changes being proposed:
a) Certain mortgage types would be eliminated
b) You would need a minimum of a 20% downpayment
c) You will need a minimum 690 FICO credit score.
d) The ratios of income to both the mortgage payment and overall debt would become much more conservative (28% and 36% with debts)
There will still be FHA type loans available for buyers that can’t or don’t qualify under the new guidelines but they can expect the costs and rates to be higher.

4. RENTS ARE EXPECTED TO INCREASE- The supply of available rentals is decreasing and demand is increaing. That will lead to an increase in rental costs throughout the year. The Wall Street Journal this week quoted a report by Reis, INC: Expect vacancies to continue declining, and rents rising through the rest of 2011 at an even faster pace.

Currently there are 849 listings in Breckenridge for the week 2/13-2/19/2011. For the week there were 42 new listings, 24 new under contracts and 16 properties sold and closed. We are seeing much more activity as interest rates are starting to climb.

The snow is disappearing quickly, the rivers are running high, people are out on their bicycles, yard work has started and the tourists are showing up!  Many people are canceling their beach vacations in Florida and are heading to the mountains.  Breckenridge is loaded up with activities for the summer months.   The next big event is Kingdom Days.  Kingdom Days celebrates the history of Breckenridge and this year is year 151!   Below is a synopsis of events the weekend of June 19th and 20th.   For a full list of activities, visit the Breckenridge Visitors Center on Main Street.

Kingdom Days weekend provides your family with an abundance of things to do throughout the weekend. Enjoy the town party on Friday night, take a historic hike, tour our museums and galleries, enjoy in some live music, try your hand at gold panning and watch your favorite character during a Wild West gun fight on Main Street.

Kingdom Days Schedule of Events

Saturday, June 19, 2010 & Sunday  June 20, 2010

Free Free Free: Historic sites and Tours. All historic sites and tours will be free of charge during Kingdom Days. Reservations are not required. Visit breckheritage.com for a description of Breckenridge’s historic sites. For more information on the summer schedule, please call the Breckenridge Heritage Alliance at 970.453.9767

Saturday, June 19, 2010

Iowa Hill: 10 am-12 pm Free interpretive hike to teach you about the flora and fauna of our forest. This easy / moderate difficulty will entice your senses and teach you all you ever wanted to know about our high alpine ecosystem and history. Please meet at the trail head. Wear sturdy shoes, dress for the weather and bring water. No dogs allowed. For more information, call 970.453.1734.

Gun Fights Location Near Main and Lincoln – 10 a.m., 12 p.m., 2 p.m. & 4 p.m.

11a.m. – 3 p.m. Historic Breckenridge Films at the Breckenridge Theatre,
including Peaks on the Past, which was produced in 2009 to celebrate Breckenridge’s 150th anniversary. For More information, please call 970.453.9767

11 a.m. – 3 p.m. Kids’ Activities on the lawn at the Barney Ford House Museum,
located at 111 E. Washington Avenue. Projects and interactive activities for all ages.

11 a.m. – 4 p.m. Old Time Photos
at the Robert Whyte House 127 S. Ridge Street. Dress up in historic costumes and have a professional photographer create your very own “Old Time Photo” 0f your family.

11 a.m. – 5 p.m. Country Boy Mine Demonstrations
in the Blue River Plaza on Main Street11 a.m. – 5 p.m.

Gold Panning in the Blue River Plaza
on Main Street. Get expert instruction and see demonstrations by the Gold Prospectors of Colorado.

1 p.m. Historic Home Tour
Visit a collection of Breckenridge’s historic homes in different stages of historic preservation. Step inside some of Breckenridge’s historic residences and learn about the Town’s preservation efforts thought the years. Please meet Colorado Mountain College at 103 S. Harris Street.

11 a.m. – 7 p.m. Arts Alive!
Gallery “History: Through the Artists’ Eyes” La Cima Mall,  500 S. Main Street. Enjoy this special exhibit featuring original artwork by local artists influenced by historical sites, paintings and photography.

7:30 p.m. National Repertory Orchestra Opening Night
Riverwalk Center, 150 West Adams. Celebrate the opening night of National Repertory Orchestra with special guest Colorado Children’s Chorale. For tickets call 970.547.3110.

Breckenridge Exclusive!

477 Westerman Road

This beautiful home in the Highlands Neighborhood is sited on a gorgeous view lot that overlooks the Ten Mile Range and the Continental Divide.   The floor plan is designed for 2 levels of living.   The first floor has an expansive great room with a beamed and vaulted ceiling, dining room, huge kitchen with an island, stainless steel appliances, granite and big picture window.  There is a half bath, deck and a two car garage.   The master suite is also located on the main floor.  This wing of the home features a generous sized bedroom with fireplace and a private deck, a large bath with a jetted tub and separate shower.

The lower level of this home has a great den with a fireplace, wetbar, a second master suite, lots of closets and 2 additional bedrooms and 3 baths.  There is a walkout to a stone patio and hiking trails start in the back yard.   Call to get a link to the virtual tour.  Offered for $1,449,000 or a 1/4 share for $450,000.

The competition is over and Breckenridge had close to 100,000 people here over the last 2 weeks to see it!   Here are a couple of my favorites.    From a 20 ton block of snow to this:

January 26-31, 2010

It’s back!  The annual event that the Town of Breckenridge hosts returns for the last week in January.   This is quite an amazing event as artists from all over the world bring their talents to Breckenridge.   This is what they start with:

These blocks of snow are huge!  Check out the people at the base of the blocks.

These blocks are turned into this:

This is a photo from a past competition.  Please come to Breckenridge to enjoy and view this amazing event.

Schedule:

1/26/10 11 am Starbuck’s Shotgun Start

1/26-1/30/10  Competitors sculpt their block into a beautiful work of art in just 65 hours!

1/30/10  At ten AM the sculpting is completed. Judging at noon

Choice Award and Kids’ Award Voting

1/31/10 At 3:30 PM the awards Ceremony on the main Stage.

1/31-2/7  Sculptures remain on display weather and safety permitting.

For more info visit: snowsculpt.com

Hello!   I wanted to post these pictures of me hiking with the “polar poodle” Claude.   He loves the snow, sun and mountain living.    It’s funny that your pets are unaware of what is happening in the world but are so aware of their immediate environment.

It’s been an interesting winter this year to say the least.  We have had sub zero temperatures in November and December and in January the temps have reached 40 degrees on some days.  It tries to snow every day and we may get a couple of inches at a time.  We call this a ‘dusting.’  Regardless of mother natures whims, the ski resorts have made a ton of snow and people are skiing and riding everyday and having a blast.

Tourism is up from last year, real estate is up from last year, and interest rates are near historical lows.   Financing is available for primary and second home properties.

Hello, my name is Chuck Daily and I’m also known as Mr Breckenridge Real Estate. This is the first posting I am making on my blog. I will be updating my visitors about Breckenridge and Summit County real estate and activities in the county.

The real estate market in Summit County has been down about 45% in sales volume. The market is trying to balance itself. This hasn’t occurred yet as we have far more properties for sale than buyers ready to buy. This Fall we are seeing a rash of cash buyers coming into the market and getting great deals in the $1M and up price range. I feel these buyers think the bottom of the market is here or almost here.

Lending institutions are freeing up and starting to lend again. Low interest rates are bringing buyers and second homeowners into the market for the first time in several months. Buying resort real estate still has some major hurdles to overcome. Most lenders are not doing condo hotel loans and many lenders don’t know how to lend on condos that are mainly used as investment properties.Read the full post here

If a lender googles a condo complex or subdivision name and a short term rental comes up the loan is declined. You might be able to see what kind of obstacles Summit County Realtors are facing. We recommend you choose a local lender that knows the local market and the challenges that exist here.

Overall, I feel the future of real estate in Breckenridge and Summit county is promising. We live in and sell in an area of the country that is beautiful and very special. Many of the families that buy real estate here never sell their properties! Their properties are passed on to their kids and grand kids. With a variety of outdoor activities year around, Summit county will continue to draw active seniors, youth, and everyone in between.

I will blog about what is hot and what is not. Stay tuned in to the Mr. Breckenridge Real Estate blog.