Premier Colorado Group

Good News! Foreclosures Starts Were Down in 2011

2012-01-05T09:11:00.000-07:00

Most of us know someone who has been affected by the housing crisis and Boulder and Broomfield have not been spared over the last couple of years. Fortunately, there is good news and signs of a strong recovery on the horizon in Boulder and Broomfield Counties. Approximately 450 fewer foreclosure proceedings were started in Boulder and Broomfield counties in 2011 compared to 2010, according to year-end records compiled from records submitted to both counties' public trustees offices. 952 foreclosures were initiated in Boulder County in 2011. The drop is a 28 percent decrease from the 1,314 foreclosures initiated in Boulder County in 2010 and a 33 percent decrease from the 1,414 foreclosures started in 2009, the worst year in the recent past. Broomfield saw a 36 percent decrease.

There is additional good news regarding foreclosure sales. Once a foreclosure is initiated with a notice of election and demand, the homeowner has the right to cure the default before the property is sold at the foreclosure auction. Fewer foreclosures proceeded to the auction block in Boulder and Broomfield Counties. Boulder saw a 19% drop with 495 properties sold, and Broomfield foreclosure sales were down 33% with only 147 properties sold.

That being said, we are still seeing hundreds of homeowners in need of assistance in dealing with their mortgage debt. While foreclosure is sometimes the best options, in most cases it is not. Many of the foreclosure sales could have been avoided if the homeowners would have acted to remedy their situation in a timely manner. Lenders are approving Short Sales more than ever, and the process is being streamlined. It’s saddens me to see over 600 homeowners having their homes taken from them in this area alone when most of them could have avoided the stress and stigma of foreclosure.

We’re currently working on an informational video for the Short Sale process to demonstrate how short sales are often a very good option for homeowners in distress. Visit our short sale information page to request a Foreclosure vs. Short Sale resource guide by clicking here.

To read the full Foreclosure article click here.

Boulder Area Ranks in Top 10 for Home Value Appreciation

2011-12-30T10:54:00.000-07:00

Inman News announced the Top 10 U.S. metro areas for real estate price appreciation today with Boulder and Ft. Collins both ranking in the top 10. These metro areas bucked national trends to win a place on a top 10 list of markets with the greatest year-over-year median home-value increases from October 2010 to October 2011, based on data compiled by Zillow.

Metro areas in this top 10 list averaged a 1.6 percent median home-value increase over the one-year timeframe with six of the 10 having median home values hovering around $100,000. Boulder, and Fort Collins stretched the upper end of the spectrum with median home values of $304,000, and $217,300 respectively. Fort Collins ranked no. 6 with a 1.3 percent increase, and Boulder came in at no. 9 with a 0.2% increase – while it’s not a huge increase, it certainly beats the national average of a 5 percent decrease in home values.

With home values increasing and interest rates hovering below 4% . . . 2012 looks to be a good year to buy a home in the Boulder area.

To see the complete Top 10 List click here.

Realtors find bright spots in flat market

2011-07-13T16:17:00.000-06:00

One thing that seems to be selling pretty well in Grand County are condominiums, which are typically priced at $300,000 and under. At the base of Winter Park Resort, Fraser's Crossing and Founder's Pointe are seeing a surge in activity due to short sales, said Jean Wolter with Real Estate of Winter Park.

Those properties are selling for an average of $300,000, half of what they sold for the first time around when the market peaked.

Due to nature of the economy, the buyer's market is more second home driven, “people who are recession proof and are looking for an investment,” Wolter said. “They want the best priced, best looking place they can find. They are value driven, and many of these buyers have been watching the market up here since 2009.”

In Granby, Lance Gutersohn and Tina Shearon of ReMAX Peak to Peak are experiencing a success story with the short sale of 67 units in the Inn at SilverCreek. Since the units went on the market at the end of February, Shearon has closed on more than 50 of them.

With only 14 units left, the group sent out an email blast in advance of the Fourth of July holiday weekend, and Shearon has taken more than 70 calls in the past 24 hours, setting up a dozen appointments for the weekend.

"I expect to be sold out by the end of the weekend," she said.

The biggest selling point is price, Gutersohn said. Studio units were priced as low as $17,000 and high-end loft suites are selling for less than $60,000.

"It's a very unique opportunity," said Shearon, who is finding customers among "people that never dreamed they'd be able to own a mountain retreat of their own."

Shearon added: "I'm not aware of anything priced like this in another mountain resort community."

More than 30 percent of her buyers have been real estate agents and financial consultants from the Front Range who learned about the deal through the Realtors network, did their due diligence, and "see this as a relatively low risk," Shearon said.

The complex is run as a hotel, and owners have the option of joining a long-term or short-term rental program or keeping the place for the exclusive use of friends and family.

The complex does require hefty association dues, $450 to $820 per month. That covers all utilities as well as use of an indoor/outdoor pool, hot tub, tennis and recreation center. One reason for the high dues, Gutersohn said, is that the association's reserves are depleted and it needs to rebuild them.

Single family homes

There is a sweet spot in the single family housing market, said Clark Lipscomb, owner of Century 21 Winter Park Real Estate. Lipscomb recently reduced the prices on the nine remaining houses in Grand Park to fall within the price segment where buyers are looking — the average price of a home selling in the Fraser Valley in 2011 is $516,000.

Some 63 units in the $500,000-$650,000 market sold across the county in the past 14 months, Lipscomb said. If the market continues at that pace, Lipscomb said the Fraser Valley's inventory in that price range could be depleted in less than a year.

“That's pretty good,” said Lipscomb, who added that a 7-month inventory is considered a healthy market.

By comparison, there is 4 years worth of inventory in the $650,000 to $900,000 segment.

Lipscomb said his office is seeing many people who want to trade up, people in their late 30s and 40s who have kids and maybe already own a smaller place in the valley but want to trade up.

“They realize they can trade up today for 40 percent of what prices were at the peak,” he said.

That said, most of Grand Park's buyers have paid cash, he said: "There is a lot of money sitting on sidelines. People are watching the market, waiting for it to hit bottom, and I believe we have."

Once Grand Park sells out, Lipscomb said he is looking forward to going vertical on a smaller product that will fit the needs of a different market segment, starting at $399,000 for single family home.

To learn more about the other real estate market segments, click here to read the full article.

Home Bidding Wars Erupting

2011-05-20T13:00:00.000-06:00

Time to get off the fence?
Reasons for bidding wars include:

Fears that mortgage rates, hovering near historic low, are sure to rise.
Home prices remain affordable and many sellers are willing to deal, especially with competition from so many distressed properties.
A feeling that the market is closer to the bottom of the cycle, and while homes may not be appreciating, they are not dropping in value either.
The rental market is booming with no end in sight, making homeownership a better long-term bet.

While all of these are important ingredients fueling an increasing number of multiple offers, Lin said the recipe for a bidding war has another element. “I think part of it is that they want to get off the fence,” Lin said. “They are tired of being on the sidelines.”

Click here for the entire article.

Area Rich with Father's Day Ideas, Including Golfing, Fly-Fishing, Mountain Biking and More

2011-05-09T08:26:00.000-06:00

Father’s Day is the perfect time to remember the extraordinary men in our lives. Do something extra special for dear old Dad this year – treat him to a Winter Park-Fraser Valley guy getaway. From fly-fishing to mountain biking, golfing and water sports, Winter Park-Fraser Valley is a ‘mancation’ Mecca!

Winter Park Resort Leads the way in Eco Inovations!

2011-04-13T08:18:00.000-06:00

While resorts are long-standing proponents and users of alternative energy, many resorts are adopting new wind and solar energy sources to power their on and off-mountain operations while always exploring new forms of alternative energy and energy efficiencies.

In effect since 1997, AreaNet has expanded each year to now control snow melt systems with moisture and temperature sensors, ensuring that heat will not be used unless it is wet and below freezing at Snoasis, Sunspot, Mary Jane, the Village Cabriolet lift, the Private Lesson Center and Zephyr Mountain Lodge. AreaNet also has some control over gas appliances and heat as well as shutting down snow-making equipment when temperatures are too warm for optimum snow production.

Winter Park installed a small wind turbine at the top of Parsenn Bowl to provide power to the lift shack. The turbine offsets energy consumption and increases lift operation efficiency. Also, Winter Park's electrical foreman designed and built hardware and software to create a resort-wide automatically controlled system - AreaNet - that shuts down heat to lift shacks and lift motor rooms when not needed.

Renewable Energy Credits (RECs) are another method many resorts use to offset energy consumption. Each REC represents one megawatt hour of electricity as generated from a certified renewable energy source. Many of CSCUSA's member resorts are using RECs to offset their energy use, especially in areas where alternative energy is not readily available.

Winter Park's RECs offset the Panoramic Express, Eagle Wind, Super Gauge Express and Village Cabriolet lifts, which combined equal 6.4 percent of the resort's total electrical usage.

Click here for the full story!

Real Estate Recovery in Ski Resort Markets?

2011-04-10T12:33:00.000-06:00

PARK CITY, Utah, April 6, 2011 /PRNewswire/ -- When is a trend more than just a trend? Luxury property markets were not shielded from the recent real estate market collapse but current trends are showing promising growth in some market segments, particularly the ski resort market. Luxury real estate brokers in Aspen, Vail and Lake Tahoe say their regions have experienced a significant recovery in 2010.

See the full article here.

Market Rebound

2011-03-29T11:53:00.000-06:00

Ralf Garrison, co-owner of the Mountain Travel Research Program, which studies travel industry data for mountain resorts, said consumers have been treated with lower prices and higher value across the United States travel industry.

“That said, such great deals can't be expected to continue on forever,” Garrison said. “As market conditions improve and demand increases, that creates pricing power.”

Lodging occupancies, however, have started to go back up, which shows an increase in the quantity of demand, but not necessarily the quality of demand — lodging rate increases haven't been sustainable, Garrison said.

“While resorts haven't had to increase their bargains, they haven't been able to decrease them in any meaningful way,” Garrison said.

There are signs the market is shifting to a more balanced market — where buyers and sellers are on a more equal playing field — from the buyer's-only market it has been in for the last couple of years.

“We expect this time of the recovery cycle to be about when we'd see these things start to happen,” Garrison said. “It follows conventional economics of supply and demand — for demand to be coming back and discounts to be waning and prices to come back up.”

And while the overall market is something Vail Resorts obviously pays attention to, the company plans its strategy and approach with the long-term in mind because markets move up and down all the time, Katz said.

Garrison sees a positive sign for next season already in that the Mountain Travel Symposium, an annual mountain travel forum and trade show in Beaver Creek in early April, is sold out this year. The event did not sell out last year.

“That's one anecdotal sign in the marketplace showing some enthusiasm about next year,” Garrison said.

Interpreting economic signs, however, has proven that it's not an exact science. That's why everyone in the industry, from analysts to company executives, still remain cautious about what the future has in store.

“As we mentioned in our earnings call, we are definitely seeing signs of improvement in the economy, though there are still a number of challenges ahead,” Vail Resorts spokeswoman Kelly Ladyga said.

See the full article here.

Visit Premier Colorado Group / Keller Williams Realty for detailed Real Estate Information.

"Aspen Ridge" in Winter Park cont...

2011-03-23T10:34:00.003-06:00

Aspen Ridge is a gently sloping valley that has a seasonal, spring-fed creek running through it. Views of the Continental Divide including the Indian Peaks, Byers Peak, Parry Peak, and Winter Park and Mary Jane Ski Resorts are visible from the property. Aspens, pine trees, and gently sloping meadows along with breathtaking views of the Continental Divide make this an incredibly desirable property. The close proximity to a world-class ski resort also make it incredibly unique.

In addition to all the activities available from the property, alpine skiing is 5 miles away at the Winter Park - Mary Jane Ski Resort, snow-tubing and fly-fishing are minutes away and all the lake activities are 30 minutes away. Golf is also available at the four championship golf courses in east Grand County including 27 holes at Pole Creek in Tabernash.

Check back soon for more info or visit our website www.winterpark-colorado.com.

"Aspen Ridge" in Winter Park

2011-03-20T13:27:00.001-06:00

Sitting just seventy miles from Denver, two miles from downtown Winter Park, Colorado and five miles from the Winter Park Ski Resort, "Aspen Ridge" is a 40 acre parcel sitting quietly secluded and undiscovered (see maps).

"Aspen Ridge" is a spectacular parcel of undeveloped land one mile east of Fraser and US 40. It sits a quarter mile north of County Road 8. Accessible from the property is the Devil’s Thumb Ranch trail system and another 5 miles up County Road 8 is the Devil’s Thumb Trailhead which leads to the top of the Continental Divide. Endless trails for hiking, biking, snowshoeing, Nordic skiing, and snowmobiling are either accessible from the property or moments away.

Property will be available for purchase soon. Stay tuned for more details!

Got a question?

2011-02-25T13:34:00.001-07:00

You have a question about Winter Park, Boulder, Colorado, or real estate and regional stuff in general? Ask it here in a comment and we'll respond. Don't be shy!

Winter Park Golf

2010-05-12T16:05:00.011-06:00

Colorado Ski Country is also a Summer Golf Paradise. Check out this article at WorldGolf.com!

There are some great real estate opportunities on Pole Creek Golf Course right now. One of them is a group of four adjacent bank owned lots listed at $99k per lot. Make an offer! Click here to see them.

For real estate info about this property, go to:
www.winterpark-colorado.com
andre@premierresort.com
andredebakker@LinkedIn
970.726.5222

The “Fraser 40”

2010-04-30T13:28:00.005-06:00

About 15 years ago, I started investing in Winter Park Colorado real estate. My thought was that I wanted to live here one day and that I should get my foot in the door while I values were still within my price range. I started by buying 2 investment properties (land) for $42k. Within a couple of years, I sold them for $80k combined and I was hooked.

After I sold the land, I did a 1031 exchange on each property and bought some rental condos sight unseen. At that time, it was possible to cash flow rental properties up here with only 20% down. The buying and selling continued and my real estate investment continued to grow. At one point or another, I ended up owning residential land, multi-family land, condos, houses, ranch land, commercial development land, and a restaurant.

The last couple of years have been tough up here with property values returning to pre-2003 prices. I was, however, fortunate enough to roll into a 40 acre development property 7 miles from the base of Winter Park Resort. I call this piece of land “Fraser 40” and it has a log home on it. It’s my “Cabin in the Woods”. The amazing part is it’s wonderfully secluded but only 1 mile from Fraser and a couple more from the town of Winter Park. Click here to see it.

Visit here again to find out more about this wonderful spot in the Colorado Rockies!

For real estate info about this property, go to:
www.winterpark-colorado.com
andre@premierresort.com
andredebakker@LinkedIn
970.726.5222

Pinnacle Real Estate Auction Update

2010-04-19T10:39:00.008-06:00

On April 10th, 2010, RE/MAX Resorts of Grand County was part of a real estate auction held in Denver. Also participating were three Denver front range RE/MAX offices. It was quite an event to witness with over 160 properties on the block ranging from Ft. Collins south to Colorado Springs and west to Winter Park. This was not a foreclosure sale as all the properties were seller owned. Property values ranged from $80,000 to over $3,000,000 and with over 100 registered buyers present, hopes were high that many properties would change hands. Unfortunately, this was not to be. A wide variety of properties were bid on but unfortunately, only 20 had interest. I think we all know that the real estate market is still slow but the Denver area has shown significant signs of recovery and we’ll keep plugging along trying to sell your properties.

The good news is that there are fantastic opportunities right now for buyers. If you’re interested or just curious, call or email me and I’ll help answer your questions and if you’re interested, find your dream property in the Winter Park area.

For real estate info go to:
www.winterpark-colorado.com
andre@premierresort.com
andredebakker@LinkedIn
970.726.5222

Still Waiting!

2010-02-03T16:13:00.011-07:00

Well it's early February and we're still waiting for the big snow. This is the driest winter I can remember in the ten years I've been here but I'm sure it will come soon enough. So far they’ve gotten 127" at the resort which is less than half the annual average (click here to see Winter Park's historical snow data). Amazingly, the slopes have decent coverage and most of the mountain is open. The bright side to all this is that we’ve has lots of blue skies and sunshine!

Now on to more interesting things. Condo sales at the end of 2009 were encouraging. After a slow summer, we saw increasing sales in the Winter Park area through the end of the year. December was the best month we’ve seen since late 2007 if you exclude the new condos at the base which came on line in 2008 but were placed under contract in the years prior to that. Here's a chart showing the trends:

This increase is encouraging because it indicates that lenders are starting to lend on condos again and that the second home buyers are beginning to invest again. I’m optimistic that 2010 will be a year of recovery for Winter Park's real estate market so check it out when you can. Feel free to call or email anytime for more details.

For real estate info go to:
www.winterpark-colorado.com
andre@premierresort.com
andredebakker@LinkedIn
970.726.5222

Welcome!

2010-01-24T15:45:00.007-07:00

My name is Andre DeBakker and I am an engineer turned real estate broker. Over ten years ago I walked away from my full time desk job to do something I had dreamed of for many years, living in a mountain resort town and working for myself. What a liberating decision that was and I never looked back.

In this blog I will keep you abreast of what's going on in the Winter Park area, tell you where I think the market is headed, and keep you abreast of my real estate deals and investments. Please feel free to call, email, or comment any time. I'll look forward to it!

For real estate info go to:
www.winterpark-colorado.com
andre@premierresort.com
andredebakker@LinkedIn
970.726.5222