Single-family housing starts reach highest level since 2007

 

Single-family housing starts continued their seven-month climb in November, coming in to the highest level since 2007, according to the Census Bureau.

Housing starts rose 1.2% in November compared to October and are up 12.8% year over year to a seasonally adjusted annual pace of 1.58 million starts. Single-family housing starts rose 0.4% from October and 27.1% compared to last year.

“Today’s report is consistent with other housing data that shows the housing market has rebounded substantially from the second quarter,” said Joel Kan, the Mortgage Bankers Association’s associate vice president of economic and industry forecasting.

As a result of the pandemic, there has been a heightened demand for larger homes, which Kan said has driven more construction, home sales and mortgage originations.

“Additionally, permits for new single-family construction also rose to 2007 highs, potentially an indication that we might see the increase in homebuilding continue into early 2021,“ Kan said.

Coronavirus drives blistering sales of Colorado mountain homes, sets 2020 as historic high mark

 

Prices are at record highs. Supplies of mountain homes for sale have never been lower. Across Colorado’s high country, resort community real estate sales have set records since July. Through October, the total real estate sales from six Colorado resort counties are nearly $1 billion greater than all sales last year.

Back in 2007, when mountain real estate was humming with sky-high prices in a frenzied market, high country buyers and brokers assumed national problems would not reach isolated resort communities. But the economic collapse, triggered by suspect lending, did reach the mountains, and the real estate market withered in the Great Recession right along with urban markets. 

Once again the mountain market is raging. But there are signs that indicate this time around could be different. There aren’t any sketchy financial schemes propping up lending. The pandemic is shifting priorities as a wave of largely urban residents moves to Colorado’s high country. The newcomers are scooping up primary homes, not just vacation getaways, and they are moving in.

“People were playing with funny money in ‘07,” said Gil Fancher, the co-owner of the Vail Real Estate Center. “Now we are seeing people buying because they want to change their life. I do not see us falling off a cliff any time soon.”

Summit County’s adoptable pets for the week of Dec. 27, 2020

 #Breckenridge #Colorado

 Reef 

Call the shelter at 970-668-3230 with questions. The most recent list of animals available for adoption can be found via their website.

Cats

BEAUREGARD, 3 years, domestic longhair, black, neutered male

CASANOVA, 2 years, domestic shorthair, brown tabby, neutered male

CECE, 12 years, domestic shorthair, buff, spayed female

CINNAMON, 1 year, domestic shorthair, calico, spayed female

COCO, 2 years, domestic shorthair, chocolate, spayed female

COCOA, 4 months, domestic shorthair, black tabby, neutered male

CYAN, 3 years, domestic mediumhair, orange, spayed female

DELO, 2 years, domestic shorthair, calico, neutered male

MARCO, 4 months, domestic mediumhair, orange and white, neutered male

MAVERICK, 3 years, domestic shorthair, orange tabby, neutered male

REEF, 2 years, domestic shorthair, brown tabby and white, neutered male

Dogs

ANNIE, 2 years, Australian cattle dog, black and white, spayed female

CARAMEL, 3 years, pit bull terrier mix, tan and white, spayed female

HURRICANE, 9 months, Labrador retriever and German shepherd mix, black, neutered male

INDY, 8 months, German shepherd and smooth-coated Chihuahua mix, tan and black, spayed female

JACK, 1 year 6 months, Australian cattle dog and Australian kelpie mix, tan, neutered male

LADY, 2 years, pit bull terrier mix, red and white, spayed female

Happy Holidays to all!

 

134 Summit County restaurants cleared to open to in-person dining under 5-star program

    

Summit County’s 5 Star Business Certification Program allowed 134 restaurants to open to indoor dining over the weekend.

The program allows restaurants to reopen to in-person dining at 25% capacity or 50 people, whichever is fewer, despite the county being in level red on the state’s COVID-19 dial. The catch is that restaurants have to comply with more stringent regulations than those required for in-person dining in level orange, including spacing tables and parties at least 10 feet apart, screening customers and employees for symptoms, and gathering contact information to help with contact tracing.

If Summit County eventually moves into level orange, businesses in the five-star program can operate at capacities associated with level yellow.

 5-star certified restaurants

• Frisco: Bit.ly/3awCVAR
• Breckenridge: Bit.ly/3pi9cQb
• Silverthorne: Bit.ly/3pfsPso
• Dillon: Arapahoe Cafe & Pub, Dillon Dam Brewery, Elevation Bowl, Lake Dillon Tavern, Lili’s Bistro, Pug Ryan’s Brewery, Sabor Mazatlan and Saved by the Wine
• Summit County: 6th Alley Bar & Grill, Bighorn Bistro, Black Mountain Lodge, Broken Compass Brewing, Cala Pub and Restaurant, Copper Conference Center, Dos Locos Mexican Restaurant & Cantina, Eagle BBQ, The Goat, Haywood, Jack’s Slopeside Grill, JJ’s Rocky Mountain Tavern, Keystone Ranch Restaurant, Kickapoo, Legends Cafe, Luigi’s Pastahouse, Mamma’s Italiano, Montezuma Roadhouse, Myla Rose Saloon, Pizza on the Run, Sawmill, Ski Tip Lodge, Snake River Saloon & Steakhouse, Solitude Grill, Spoon Cafe, Steep Brewing & Coffee Co., Subway, Ten Mile Tavern, West Village Cafe, El Zacatecano

Happy Holidays!

 

Nancy Yearout's Real Estate News Breckenridge  Frisco  Silverthorne  Dillon  Keystone  Copper   Sleigh Bells ring, are you listening... ​Happy Holidays ! ​ November Sales Continue an Upward Trend  August, sales were up 36%, in September, they were up 73%, in October they were up 77%, and in November they were up 37%. Year to date sales are up 21%. Average Sold Prices in November Skyrocket  November's average sold price for residential properties in Summit County rose by 35% over November 2019! Following an August increase of 3%, a September increase of 17%, and an October increase of 21%. The average sold price for Summit County, year to date, is at $905,000. Single Family Home Sales ​Home sales are up 22%, with an average sold price increase of 11%. So far, in 2020, the average home sold price has been $1,507,048. Condominium Sales  Condo sales are up 15%, with an average sold price increase of 8%. So far, in 2020, the average condo sold price has been $544,020. ​ Inventory The current inventory of properties for sale continues to decrease and is now at record-setting low levels. In December of 2019, the county had a low inventory of properties for sale, and comparing December 1, 2020, to December 2, 2019, there's a decline this year of 64%.  And the average percent of list to sold price in the county continues at a high rate of 98.3%. The lowest percent of list to sold in the county is in Copper Mountain at 97% and the highest is in Silverthorne at 99%. ​ Stay tuned for the December 2020 year-end results and, I look forward to seeing you in 2021!  Nancy Yearout Broker Associate RE/MAX Properties of the Summit 970-485-0293 nyearout@colorado.net https://www.realestate-breckenridge.net getmobile.remax.com/nancyyearout Source: Sold Data from Summit Realtors MLS per Annual sales 1/1 through 11/30. *Residential Sales (home, Condo, Townhome & Duplex),  Change is Year over Year or 2020 vs 2019.The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.

Dillon Ice Castles to open Saturday

 

The Dillon Ice Castles will open Saturday, Dec. 19, inviting guests to once again make their way to the Dillon Town Park to view the fourth iteration of the frozen attraction.

The castles initially were scheduled to open Dec. 26, but officials said favorable weather conditions have set the table for an early unveiling.

“Mother Nature was nice to us this year, so we were able to get the castle open earlier then expected and hopefully make a lot of people happy this Christmas,” said Melissa Smuzynski, a spokesperson for Ice Castles.

In recent months, crew members have been on scene placing thousands of icicles to construct the castles, which are sprawled over an acre of the park and complete with tunnels, fountains, slides and towers embedded with colorful lights.

Smuzynski said the attraction initially would open at about 30% of its normal capacity in order to meet public health guidelines and promote physical distancing among guests but that limitations could change throughout the season if there are alterations to state or local restrictions.

“We really want to remind people to take COVID precautions,” Smuzynski said. “Masks will be required, and we really would like our guests to bring their own masks with them. We also just want to encourage everyone to come only with members of their immediate household and to practice social distancing while in the castle. Our limited capacity should make that really easy to do.”

With the attraction ready to open, officials with the town of Dillon also are finalizing their plans to try to minimize impacts to locals in surrounding neighborhoods. At the Dillon Town Council meeting earlier this week, Dillon’s Marketing and Communications Director Kerstin Anderson presented a new parking plan meant to better communicate appropriate parking locations to visitors.

Anderson said there are 247 parking spaces adjacent to the park and along Lake Dillon Drive, along with an additional 200 spots available in rotating overnight lots in the town core. The town is planning on placing “no event parking” signs at strategic locations like Tenderfoot and La Bonte streets to keep guests out of residential areas, and other signs pointing to preferred parking lots on Buffalo Street and Lake Dillon Drive.

Tickets are available at IceCastles.com/Colorado

State will not allow Summit County to move out of level red ahead of the holidays

 

Summit County won’t be moving out of level red restrictions for the foreseeable future.

At a Summit County Board of Health meeting Tuesday, Dec. 15, County Manager Scott Vargo said the county’s current public health order, which places it in level red, will extend past Friday, Dec. 18 — its current expiration date. When the county initially moved into level red, state officials said it would be able to move into level orange once the county showed a two-week decline in its incidence rate.

The state, which determines where counties fall on the COVID-19 dial, has since changed its mind. State officials are now saying that the county must show two weeks of level orange numbers to move out of level red, which prohibits indoor dining and gatherings among more than one household.

“We’re quite concerned about this,” Vargo said. “The state has moved the bar on us and changed their expectations.”

Although Summit County has seen a sustained decline in its two-week incidence rate — the number of new cases per 100,000 people — it is still far from being within level orange. As of Tuesday afternoon, the county’s incidence rate was at 968.3 new cases per 100,000 people, which is far above the 350 new cases per 100,000 people that is required to move into level orange.

Summit County’s adoptable pets for the week of Dec. 13, 2020

 

Call the shelter at 970-668-3230 with questions. The most recent list of animals available for adoption can be found via their website.

Cats

CYAN, 3 years, domestic medium-hair, orange, spayed female

HERSHEY, 7 months, domestic short-hair, black, neutered male

PATCHES, 1 year 1 month, domestic short-hair, dilute calico tabby, spayed female

REEF, 2 years, domestic short-hair, brown and white tabby, neutered male

STUFFING, 16 weeks, domestic short-hair, black and white, neutered male

TUBBY, 13 years, Persian, black, neutered male

Dogs

CLEO, 3 years, Chinese shar-pei and Australian cattle dog mix, black and white, spayed female

INDY, 8 months, German shepherd and smooth-coated Chihuahua mix, tan and black, spayed female

JACK, 1 year 6 months, Australian cattle dog and Australian kelpie mix, tan, neutered male

LEILANI, 2 years, German short-haired pointer mix, chocolate and white, spayed female

The least expensive two bedroom ski in/ski out condo in Breckenridge

 

​Real Estate​ Update from Nancy Yearout ​ Last Chance to Buy this Chateaux Condo #1044  before it goes off the market till Spring 2021!   And last chance for this lower 2020 price of $1,075,000!   ​ ​ (click picture to take the virtual tour) ​ ​View full details of listing - S1015978 ​ Nancy Yearout Broker Associate RE/MAX Properties of the Summit 970-485-0293 nyearout@colorado.net ​

Takeout options from Summit County restaurants and breweries

 From the Summit Daily News.

Under level red restrictions, all Summit County restaurants are closed to indoor dining. Outdoor dining is permitted but is weather dependent.

Above the Blue “Reddz,” 421 S. Main St. Unit G

• Hours: 10 a.m. to 10 p.m.
• Menu: Full. Visit their Facebook page
• To order: 970-453-3062
• Outdoor dining

Amazing Grace, 312 Lincoln Ave.

• Hours: 7 a.m. to 2 p.m.
• Menu: Full. Visit AmazingGraceBreckenridge.com
• To order: 970-453-1445
• Outdoor dining

Angel’s Hollow, 113 S. Ridge St.

• Hours: 11:30 a.m. to 9 p.m.
• Menu: Full
• To order: 970-453-8585

For the complete list go to:

https://www.summitdaily.com/news/everything-you-need-to-know-about-covid-19-outbreaks-in-summit-county/

Even with low inventory, expect a strong 2021 housing market

 

Even prior to the pandemic, housing inventory had hit record lows, and the problem has only gotten worse as demand continues to rise. Total home sales are outpacing new listings by a wide margin every month, and real estate tech company Homesnap foresees the shortage continuing in 2021 unless more sellers enter the market.

The divide between supply and demand is striking: compared to last year, total new listings increased .22%, while total sales increased 19.29%. Homesnap said this trend could further drain inventory as 2021 approaches.

Home prices have risen as a result of the mismatch in homebuyer demand and housing inventory. The average list price for properties that sold rose 6.7% from September to October this year, which Homesnap said is significantly higher than the same figure in 2018 and 2019.

As median home prices keep rising, homeowners who originally planned to sell within the next three to five years might list their homes sooner, Homesnap said, freeing up more inventory.

Al fresco winter dining: Restaurants and bars get creative to accommodate customers

 

 

Typically, December wouldn’t fare well for outdoor dining in Summit County, but the unseasonably warm weather has made it possible for several restaurants and bars with food service.

Indoor dining is closed in counties under level red restrictions, including Summit, but the state gave restaurants the option to stay open for outdoor dining in addition to takeout and delivery.

Columbine Cafe has put tables in its courtyard, where customers can sit and eat. Owner Robert Simonton explained that while there isn’t service to the tables, the cafe is still doing takeout. So a customer can order food to go, and then eat it outside.

Rising Sun Distillery owner Dawn Richardson said having no capacity indoors has been difficult but that outdoor dining is the only thing moving her business along aside from a small amount of to-go orders. She said outdoor seating has been a tough sell because it’s December and it gets especially chilly after the sun goes down.

To make things more comfortable and cozy for people, the distillery has put a windscreen around the patio, placed a fire pit in the outdoor seating area and is bringing in more fire pits and heaters this week. If the fire pits become popular, Richardson said she’ll order more.

Extraction complete at Swan River Restoration Project, site moves to restoration phase

 

 

The Swan River Restoration Project is closing out on its extraction phase and moving into the restoration phase, which is expected to be completed next year. Some neighbors of the project site will be glad to hear that the mining piece of the project is done.

Jason Lederer of Summit County Open Space & Trails explained that gravel crushing activities have been completed by the county’s gravel removal contractor, Schofield Excavation, and all that’s left to do in the way of gravel is to finish removing it. This will involve hauling the stockpiles from the site with loading trucks, so there will still be some heavy machinery operating around the site until the gravel is fully removed.

“That big effort is wrapped up for the most part except for that residual material out there,” Lederer said.

The gravel material that has been mined has gone toward local highway and construction projects. Levi Schofield, president of Schofield Excavation, said the project has provided material for roads in Silverthorne’s Smith Ranch neighborhood, the Ski Hill Road project in Breckenridge, both phases of the CDOT road project that went from Dillon to Breckenridge, and numerous houses and smaller subdivisions.

Now, Lederer said the design team is planning the restoration to be completed during the next building season. The project includes two reaches and is meant to restore the Upper Swan River Valley from past dredge mining operations and reconnect the three main tributaries of the Upper Snake River Valley. It will eventually restore 12,200 lineal feet of the stream channel.