Summit County Real Estate Market Remains Up

Breckenridge & Summit County, Colorado Market Update!

Market Remains Up - now 14% and it is interesting as the county approaches the final two months of 2012, the number of residential properties under contract are up 14%. The number of properties already sold this year are up 14.5%. 

Average sold price is flat countywide while the average sold price per square foot is down -2%.

Learn more

 

http://howsthemarketupdate.com/

Loveland Ski Area Celebrates 75 Years

In the mid-1950s, a lift ticket at Loveland Ski Area was only $3.75. The first prices in the late 1930 offered a day pass to use the ski area for $1 while paying 50 cents would give access to the rope tow.

Though the lift ticket prices have been no strangers to inflation, one thing at Loveland Ski Area has always remained the same: The employee passion endures.

“Loveland is a wonderful little corner of the world,” said Wendel Pugh, longtime employee of the ski area. “There is a whole world waiting for you, between all of the little nook and crannies, it's different than other mountains.”

Skiing at Loveland Ski Area can be traced back to the mid-1930s, though casual skiing started even before then. The first U.S. Forest Service permit is dated 1937. Back in those days, the mountain was largely recreated by the Zipfelberger Ski Club, organized in the 1930s by three avid skiers: Jay Clark Blickensderfer, Dick Tompkins and Thor Grosswald.

Technically, Loveland Ski Area first opened its slopes to skiers in 1936 when Blickensderfer installed a rope tow at what is now called Loveland Basin.

“From the little that we do know about this group, it sounds like there were 30 or so members that just did their own thing in the Loveland Basin, both hiking and using older portable rope tows,” said Rob Goodell, director of business operations.

Loveland installed its first ski lift in 1955. It was aptly named Chair 1, and had the same line as the current lift. The following season, Chair 2 was built. The lift began near the slope maintenance building west of the current Basin Lodge.

By the late 1950s and 1960s, construction began on the Dwight D. Eisenhower Tunnel, which runs directly below the base of Chair 4.

During the 1980s, Loveland upgraded the old Chair 2 with a high-capacity Yan triple chair. This provided better, more reliable access to beginner and intermediate terrain. In 1989, a new Valley Lodge was constructed, allowing for better guest services at the beginner and racing hills. It was at about this time that snowboarding was emerging on the slopes.

Now, with Loveland celebrating its 75th year, longtime employees reminisce on the changes in technology and how the mountain has remained so special over the years. The strong retention among Loveland's staff exceeds that of most with some employees having 50 years or more under their belt, and they all have many memories to share.

“We're very proud of our heritage,” Goodell said.

Freddie and Rosie Tronnier, residents of Silverthorne, have both worked for Loveland as ski instructors for the majority of the last half century.

Freddie Tronnier is a full-time employee and is in his 51st season working with the ski area and now serves as the ski school supervisor, while his wife, Rosie, is in her 48th season with the ski school.

“I remember when my kids were out there in rubber boots,” Rosie Tronnier said. “There wasn't any snow wear for young kids being made back then, so everything was handed down.”

In the absence of boots, bindings and thermal jacket materials, most skiers wore sweaters and pants that were only partially waterproof, Rosie Tronnier recalls.

“Can you imagine how cold they would have been out there?,” she said. “I think it made the kids really tough.”

The Loveland lifestyle

Loveland remains one of the only family owned and operated ski areas in the country, currently operated by Virginia Upham.

Keeping the ski area family owned has contributed to the family feel that the staff generates.

“We've stayed here so long because everyone at Loveland makes you feel like you're part of the family,” Freddie Tronnier said.

For Rosie Tronnier, it's the rewards from her work that has retained her employment throughout the years.

Seven years ago, she taught a 86-year-old bus driver from Baltimore how to ski.

“He said that before he died he wanted to learn how to ski,” Rosie Tronnier said. “His entire family pitched in for his private lesson and he stayed on the beginners hill. Tears were rolling down his face, he was so happy to learn. It's really a special thing to be able to help fulfill someone else's dream.”

Ski area officials say that marking the 75th anniversary, the ski area intends on keeping its character intact.

“It is very important to us to preserve the culture and atmosphere of the area,” Goodell said. “We pride ourselves on our facilities and learning terrain for beginners. We have taught numerous generations how to ski and snowboard and we want to continue on with that legacy.”

An evolution of ski technology

Employed by the ski area for 40 years, Pugh, a cleaning contractor, recalls the difference in the ski technology when he first began working at the mountain.

The first skis used at what was then called the Loveland Ski Tow, were wooden planks with leather straps as bindings. The length of the skis differed too from modern skis.

“They had to be long because they were used as transportation and you were less likely to fall through snow if the skis were long in length,” Pugh said.

The cumbersome weight presented challenges for those learning to ski during the sport's infancy.

“I remember the first time I put on skis,” Pugh said. “They were sort of like swim fins, they were more attached to you than you were attached to them.”

“Modern skis feel like they're part of you,” he added.

The advancements in skiing and snowboarding technology has made it possible for more people to learn.

“You had to really pay attention if you went into the trees,” Pugh said. “This new equipment just makes it so easy to ski.”

SKI Magazine's Top 30 Included Three Summit Areas

SKI Magazine's annual reader poll results of the top 30 ski areas in North America placed three Summit County resorts among the rankings.

Breckenridge Ski Resort, Copper Mountain and Keystone Resort were all voted in the top 30 with Breckenridge, topping the Summit County ranking at 14th place.

The winner of the ranking was Whistler Blackcomb, British Columbia, with last year's winner, Deer Valley in Park City, Utah, ranking second.

Breckenridge dropped five spots and out of the top 10, from ninth to 14th place in this year's poll, with SKI pointing out that readers mentioned the area's crowds and cold, windy weather as the downside; while praising the area's terrain parks and nightlife.

“We are incredibly proud that Breckenridge Ski Resort continues to be one of the most popular ski resorts in the U.S. and recognized by skiers and snowboarders worldwide,” said Kristen Petit-Stewert, spokeswoman for Breckenridge Ski Resort. “There are many different media outlets publishing rankings of all kinds, but our focus remains squarely on our guests and we pay careful attention to all of their feedback.”

Copper dropped from 18 to 20 in the rankings, scoring high on terrain, but losing ground for an unlively après-ski scene, according to the magazine.

Nonetheless, ski area officials say reader poll rankings point this ski season in the right direction.

“Copper Mountain has always been known for its convenient access via the Interstate 70 corridor, so it was no surprise that the resort received this recognition,” said Katherine Bush, spokeswoman for Copper. “Copper's terrain park crew works hard to develop safe, unique and progressive features inside the parks, and we're pleased that SKI Magazine readers have recognized this team's efforts.”

Keystone Resort was ranked 26th, praised for its variety and family friendly staff.

“Keystone is thrilled to be considered among the top resorts in North America and we're honored to be in such great company on the list,” said Laura Parquette, communications manager for Keystone.

Three resorts from Summit County represented among the top 30 list continentwide shows the quality of the local mountain ranges.

“It's great to see our neighbors in the county so well represented, and we congratulate all of the listed resorts,” Parquette said.

More Colorado areas were included in the top 10 than any other state or province, with Vail ranking number three, Snowmass at number eight, rated high for variety and family skiing, and Beaver Creek at number nine for grooming, overall experience and customer service.

Aspen took the number 12 spot, followed by Steamboat, Breckenridge, Crested Butte and Aspen Highlands, with Snowbird, Mammoth, Taos and Copper rounding out the top 20.

Summit County Sold Market Improves - Again

The local sold market in Summit County for residential sales has improved yet again to a year to date gain of 16% with the up and coming closings (properties under contract) still maintaining a strong gain of 9.5%.

 

Last week’s number of properties selling went up substantially (+59%) and those going under contract remained a bit above last year with a 6.5% gain. Continued strong fourth quarter activity. Learn more at Http://WeeklyREActivity.com .

 

Properties Closed: Countywide up +16%. The North Side of the county is up +20% and the South Side of the county is up +11%.

 

Prices: Countywide Flat with year to date 0.5% improvement. The North Side of the County has the highest improved percentage at plus 4% and the South Side the lowest at a minus 1%.

Third Quarter 2012 Update from Breckenridge & Summit County Colorado

Website      Find Homes      Buyers      Sellers      Local Info      Resources      About Me   3rd Quarter 2012 Breckenridge & Summit County, CO Update.     Nancy Yearout RE/MAX Properties of the Summit    800-289-7005, Ext. 7677 or 970-485-0293  nyearout@colorado.net   While we had a great one, summer is just a memory, the aspens have shed their golden leaves and now, just waiting for our first real snow. Our mountains will soon look like the winter panorama you see above.    So,the race is on between Loveland and Arapahoe Basin ski resorts to see which will open first this year! Do you know who won last year?    Breckenridge and all other ski resorts in Summit County are scheduled to open in just a few weeks. Soon the 2012/2013 ski season will  will be in full swing.  Are you ready?   Still time to find your place for the Holidays and enjoy the Lifestyle that is so dear to us all!    How's The Market YTD 2012?      The local sold market in Summit County for residential sales is holding in at13% up!   Last week's number of properties selling and going under contract came in strong with a 54% sold improvement and a 27% under contract improvement over the same week in 2011. Strong fourth quarter activity going on now. Learn more at Weekly Real Estate Activity. . A little more detail... Active listings are down 16%. Listings that are undercontract, and ready to close are up 15%. No matter how one looks at it, the market is up.   Third Quarter Results: Many like to associate to a year in the past that is similar to sales today. And that year, interestingly, is 2006 for both Condominiums and Single Family Homes. Here is a tidbit, there is only a 3% difference between sold home prices today as compared to 2006. Learn more at All Market Stats .    Have I said yet, that it's time buy?  Yes, especially for those of you that want to take advantage of the income producing investment properties. The Ski season accounts for over 75% of the rental income for the entire year. Rental income goes a long ways in helping offset the day to day of your property ownership expenses!   LOCAL SPOT LIGHT   Speaking of rental income...The Summit Daily News reports, that Winter bookings in Breckenridge are looking good.   Preliminary winter bookings in Breckenridge are pacing ahead of the same time last year. Looks good for a busy ski season.   It's all good news!   Read the full article Winter Bookings Up. _____________________________________________________    Do, remember to contact me for up-to-date information, as much as you'd like, and whenever you'd like it. Your time is my time. After all, its your interests that are important, and what works for you, works for me. I am available most any day of the week.     I welcome spur-of-the-moment inquiries and am always ready for a "Quick-look Showing" that fits your schedule."   Look forward to hearing from you,  1-800-289-7005, Ext. 7677 or 970-0293. Send me an email, nyearout@colorado.net      Visit my website to check out all the active listings in Summit and Park Counties:    www.realestate-breckenridge.net         Nancy Yearout Realtor  RE/MAX Properties of the Summit 1-800-289-7005, Ext.#7677      nyearout@colorado.net                             Join & Follow Me on    Check Out What's Happening... BreckenridgeBreckenridge Keystone  Copper Mountain  Arapahoe Basin  Frisco  Silverthorne  Dillon

Sold Prices are at 2006 Levels

The local sold market in Summit County for residential sales is holding firm at plus 13%! Last week’s number of properties selling and going under contract both came in strong with a 54% sold improvement and a 27% under contract improvement over the same week in 2011. Strong fourth quarter activity. Learn more at Http://WeeklyREActivity.com .

 

A little more detail: Active properties for sale are down 16%, properties under contract to close are up 15%. There is one project that is getting ready to close and removing that project from the overall numbers shows the local resale market of under contract properties up 7% or up 15% with the project sales and up 7% without. However one looks at it the market is up.

 

Third Quarter Results: Many like to associate a year in the past that is similar to sales today and interesting enough that year is 2006 for both Condominiums and Single Family Homes. Here is a tid bit, there is only a 3% difference between sold home prices today as compared to 2006. Learn more at Http://AllMarketStats.com .

 

View online: 

Homes - Slide Show: 'Condo Sales Summit County, http://www.haikudeck.com/p/8ANVnH5LvL or View Full Detailed Stats. Condos - Slide Show: 'Home Sales Summit County, Colorado' http://www.haikudeck.com/p/aUfg9oPfb4 or View Full Detailed Stats .

Market Holding Strong at +13 Percent

History & Future. The nationwide housing market basically stopped in 2007 dropping the average home price in the US downward by about a third by the start of 2012. Future predictions on when the housing market will return to historic highs range from the near future of 2016 to 2018 all the way out to CNN’s recent 2023 prediction. A quote from CNN’s article, “Fiserv forecasts prices will bounce back an average of 3.7% a year for the next five years -- a rate that would still leave prices 20% below the peak”.

 

Locally the number of sales dropped in 2007 a bit (down 14%) and plummeted downward an additional 43% in 2008 to finally bottom out in 2009 with another drop of 25% - total drop from 06 to 09 was 63%. Interesting though is that Summit County had a peak in average sold price while the number of sales plummeted and that average sold price has been in a downward movement ever sense. Although 2012 is starting to show signs of change and the next three months of sales will be the deciding factor on average sold price for the year.

 

What is, almost, for sure today is that 2012 will be the third year of improving number of properties sold and with a gain of 13% as of today (if the market retains that gain through the end of the year) the number of sold properties by the end of 2012 will show a year ending at -49% below the peak in 2006. The market is improving and still has a ways to go to get back to or even near the peak.

 

Locally again, Vail was quoted as estimating the 2013 year as being “the continuation of a challenging, but stable economic environment”. What will our local real estate market do in 2013? Will it move forward for another year of positive gain in the number of sales? Will it stall during the first quarter as buyers adapt to changing times? The management group at RE/MAX met the other day and discussed this briefly and had varied resulting crystal balls from a high of plugging along as we have been with an 8 to 12% gain in 2013 in the number of sold properties to a definite stall resulting a declining year and a more challenging market.

 

The reality is that we have been in a changing and challenging market now for 5 (almost 6) years and anyone that has endured knows that what is needed to succeed is a strong plan, consistent execution of that plan and business skills. Those producing today are the same individuals that are seen in the office frequently working in a definite direction with a set of skills that have resurfaced from the 90’s, recently learned and or relearned. The market is what the market is and you can’t change the market, but you can change how you react to the market in order to achieve any level of success – but, heck this is nothing new and in three months our market will be what it has been for 6 years.

 

Interesting.

 

Today sales are up 13%, average sold price is up 1% and the average sold price per square foot is down about 3%. The average sold price is up countywide that 1%, up a whole lot more on the North Side of the County and flat in the South Side and yet the average sold price per square foot is down across the board or county. This past week the number of properties that went under contract is up again over last year by 64% this time…another great week!

 

To review all the current market statistics click the link below:

 

All Market Stats