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Real Estate Newsletter
Summit County, Colorado, including Breckenridge, Dillon, Silverthorne, Keystone, Frisco, and Copper Mountain
Scenic West Real Estate Company
PO Box 6409 Keystone, CO 80435
800 479 2040 - 970 468 5600 - fax: 970 468 2620

March 2016

Real estate sales in Summit County ended 2015 on a high note, with strong sales across the county, and while January is traditionally a slower month, January this year was particularly slowed by the lack of properties for sale. The number of transactions in January 2016 was down 2% from January 2015 and total dollar volume of sales in January was down 5% from January a year ago, with $63,231,650 in sales in January 2016 versus $66,536,300 in January 2015. To read more about the real estate in Summit County, click here.

According to a year-end report by Land Title Guarantee Co., total real estate sales in the 7 resort counties in western Colorado (Eagle, Garfield, Grand, Pitkin, Routt, San Miguel and Summit), hit $7.47 billion in 2015, an increase of 18% from the $6.33 billion recorded in 2014. Pitkin County led the way with just over $2 billion in sales, followed closely by Eagle County with $1.99 billion. Summit had $1.37 billion. Only San Miguel County had a decline in dollar volume in sales in 2015 from 2014.

The inventory of properties on the market has risen, but well priced properties are still selling quickly. Don't wait any longer, now is the time to put your property on the market. Contact our office for a Free Market Analysis of your property.

The Breckenridge Town Council passed an ordinance allowing the town to specify how a lift-ticket tax approved by voters in November may be collected. Over the next few weeks, the town will work with Vail Summit Resorts Inc. to develop a Memorandum of Understanding, articulating the specifics of collection and allocation of the tax. The tax will be used to create a parking structure and provide funding for long-term transportation solutions.

It has been in process for more than a decade, but now Summit County has a Teen Center. The Summit County Teen Center is located on the lower level of the County Commons building in Frisco. The teen center is in the space formerly occupied by the County Motor Vehicle Office. The center offers free activities for youth from the 6th to the 12th grade. Overseeing the center are staff from Summit County Mountain Mentors. The center is open Mondays from 2:30-5:30 p.m. and from 3:30-5:30 p.m. Tuesday through Thursday.

Would you like to experience and enjoy the year round activities that Summit County has to offer? Start making family memories now, while staying in your own mountain property. To look at ScenicWest's current listings, click here.

The unemployment rate in Colorado dropped below 4% to an annual rate of 3.9% last year, compared to 5.3% for the U.S. as a whole in 2015. Colorado had the 10th lowest unemployment rate in the U.S. States with the lowest rate: North Dakota, Nebraska and New Hampshire.

Rick and Richard Schaden, owners of the Smashburger franchise, gave up control of the USA Pro Challenge last September. Shawn Hunter, chief of the race, has been unable to create a new ownership structure and secure long-term investors. Hunter announced Feb. 12 that the USA Pro Challenge will not happen this year as he works to find a permanent financing structure to re-start in 2017.

Conforming loans are at 3.69% for 30-year fixed loans. If you are thinking about buying, do it now, and lock in at the current interest rate. Call our office for more information: 1-800-479-2040. Rates are available at ScenicWest's Rate Page.

In November, voters in Breckenridge passed an initiative to provide long-term funding for parking and transit solutions. Now, residents are invited to participate in selecting which options to pursue when the funding becomes available in 2017. Town consultants have reviewed the town's previous transportation studies and developed a series of options. The initial meetings will be followed by public sessions Monday, April 25 and Monday June 13.

The U.S. Forest Service issued a draft environmental impact statement on the 4-year-old plan to expand Arapahoe Basin, adding expert backcountry terrain adjacent to the ski area. The plan proposes a new lift and expansion into the steep terrain known as the Beavers and Steep Gullies. If approved, the plan adds 338 acres of terrain, a fixed-grip chairlift and a zipline canopy tour and challenge course for summertime recreation. Follow this link to find out more.

Our website offers FREE information. Go to our home page for information on Summit County resort activities, Colorado real estate offered by ScenicWest, tools for your real-estate needs, such as a mortgage calculator, and new projects.

Iron Springs road realignment project between Breckenridge and Frisco moves toward a spring groundbreaking. To read this article, click here.

Would you like to be able to enjoy mountain biking on numerous trails, walking to world class skiing, fly fishing in the rivers and golfing on one of the many championship courses? Don't hesitate! If you have ever considered purchasing a mountain property in beautiful Colorado, buy now, and start enjoying your new mountain home.

The 2016 Ride the Rockies will begin June 12 and travel 403 miles across some of the state's highest passes, totaling 30,000 vertical feet in climbing, before ending in Fort Collins on June 17. Day 1 will go from Carbondale to Aspen; Day 2 to Copper Mountain; Day 3 a mountain loop ending back at Copper; Day 4 Copper to Grand Lake, first-time host city; Day 5 to Estes Park; Day 6 ending in Fort Collins.

Under current law, big game hunters are required to wear at least 500 square inches of daylight fluorescent orange above the waist as an outer garment, including a head covering. A new bill, Senate Bill 68, was introduced in the state Senate by Sen. Kerry Donovan, D-Vail and Rep. Yeulin Willett, R-GJ, to allow fluorescent pink as an option to orange. The bill passed the Senate Agriculture, Natural Resources & Energy Committee. If it passes, the measure would go into effect by the fall 2017 hunting season.

If you have ever thought about marketing your property, contact our office. We will give you a Free Market Analysis of your property.

Tax revenues in Summit County in November topped $4 million, with the town of Breckenridge collecting more than $2 million, a 10.3% increase over November 2014. For the year-to-date through November, Breckenridge collected about $34 million in sales tax, up almost 10% (9.96%) from the corresponding period a year ago. Frisco also showed significant gains, bringing in $854,748, almost 9% higher than November 2014.

The demand for world-class, four-season properties is enormous. The time to act is now. Keystone Resort has positioned itself to become one of North America's leading destination mountain resorts. It continues to evolve into a world-class, four-season, vacation destination. The area offers many opportunities to purchase a mountain retreat, from ski-in, ski-out condos to secluded mountain homes and homesites. Visit our web page for more information. ScenicWest Home Page

In less than 100 days between October 22 and January 20, Colorado's traction law was put into effect 143 times at various locations on the state's mountain highways. The traction law is imposed when snow and ice on the highway make traveling hazardous. The traction law requires that motorists use snow tires with mud/snow designation or a four-wheel/all-wheel vehicle to travel. All tires must have a minimum one-eighth-inch tread.

If you have ever considered purchasing a mountain property in beautiful Summit County, Colorado, don't hesitate! These opportunities will not be around for long. Buy now before interest rates go higher, and the selection of properties on the market goes down even more.

Destimetrics, the Denver-based resort research and analytical firm, released data that showed bookings for their 19-resort region through the end of January and into February indicated that resorts were in line for a strong finish to the season. All, that is, except Vail. Numbers for Vail dropped from January through March and then significantly in April. For reservations on the books at the end of January, Vail's bookings were down 7% in February and March and 21% in April.

Don't Miss Out! Own the Mountain Getaway you have always dreamed of, and benefit from the tremendous increase in property values that are just around the corner!
Please call for more information:
(800) 479-2040 or (970) 468-5600
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The information provided herein is provided from various sources. These are tips which seem to be good ideas, products or services. ScenicWest Real Estate Company is providing this information as a matter of convenience. It has not verified the correctness of the information, or tested or used the services or products mentioned herein. Interested individuals should fully investigate products or services they may be interested in on their own.

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