5G Network Availability Becomes Major Selling Point for Homes

 

Super-fast 5G connection speeds could become a future selling point for homes. Eighty-seven percent of consumers say that a home with access to fifth-generation cellular internet speeds and networks makes the property more valuable, according to a new survey of 1,000 U.S. adults commissioned by Verizon. What’s more, 62% of real estate agents believe that the next year or two will bring more opportunities to advertise home access to a 5G network.

5G is said to be up to 100 times faster than current 4G networks and promises to remove latency issues—that is, the delay in response time when transferring data.

Sixty-nine percent of real estate professionals say their clients have sought information about access to broadband for homes they’re considering more frequently over the past year than they did prior to the pandemic. The majority of agents also report clients inquiring more on information about the home’s cellular service connections .Fast cell service and home internet has become a greater priority for home buyers to stay connected socially and professionally during the coronavirus pandemic. Nine in 10 home buyers say fast, reliable cell service and home internet is a must-have for their new home, prioritizing it higher than good schools (64%), commute time (66%), modern appliances (86%), and nearby attractions and amenities (85%), according to the survey.

May Real Estate Update

 

Memorial Day... ​Is on May 31st this year.  Why not set aside some time to honor those who gave the ultimate sacrifice? Take flowers or flags to a local cemetery and place them on the graves of members of the military, or search for Memorial sites near you to visit or take an interactive tourof Arlington cemetery.   Nancy Yearout's Insights on "What's Up" with the Real Estate Market today! ​ Well, Unless you live on another planet 😊 or haven't been paying attention to my Monthly Market Update and News, you know that the real estate market in Breckenridge, all of Summit County, Denver/Front Range and across the Nation over the last 14 months has been sizzling "HOT".  In the meantime, I have heard from a few of you that think this could turn into a 'bubble' ... well check out this May 12th article from Realtor Magazine quoting top economists that tells why, 'This Isn't a Bubble'   Further, it is expected that interest rates will remain relatively low, home inventory will expand some, it will remain a Sellers' market, and home prices will continue to increase at maybe, a slightly slower pace.  ​Now for any of you that are, have been, or could be thinking of selling to either make a move elsewhere or upgrading your present investment(s) and utilizing the IRC Section 1031 like kind Tax Deferral to offset any capital gains. Then you should consider doing so, sooner rather than later as there are proposed changes in the works that could limit your like-kind deferral to a maximum of $500,000 gain Limiting1031 Exchanges   ​ Contact me today - I am here to help any of you succeed in Summit County, Colorado real estate.              Fun Stats in the Market Stats Video Above The Average Sold Priced Jumped 26%. The Number of Sold Properties surged 74% for the 1st Q. 2021 sales YTD (1/1 - 4/30) were the 2nd highest, ever! Inventory of properties to buy is down 76%. The percent of the list to sold price is over 100%! April 2021 Sales tied for the second highest April ever.  Market Statistic Details: History of Sales & Average Sold Prices 2004 - 2020, Condominium Sales by Town, Single Family Home Sales by Town, Residential Sales by Town,  Nancy Yearout Broker Associate RE/MAX Properties of the Summit 970-485-0293 nancy@buyinbreckenridge.com buyinbreckenridge.com ​ RE/MAX Properties of the Summit - 2 Offices in Summit County, CO - Frisco & Breckenridge. Breckenridge  Frisco  Silverthorne  Dillon  Keystone  Copper Mountain  Source: Sold Data from Summit Realtors MLS. Stats pulled on 5/4/21. *Summit Realtors MLS Data  Annual 1/1 through 12/31. *Residential Sales (home, Condo, Townhome & Duplex),  Sales for Jan, Feb, Mar & April. Change is Year over Year 2021 vs 2020. **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. ​Each office is independently owned and operated.

Fourth Street Crossing on schedule, parking structure nearly complete

#Silverthorne #Colorado

Fourth Street Crossing is taking shape in Silverthorne, with the Bluebird Market set to open late this summer.

Tim Fredregill, development executive with Fourth Street Crossing developer Milender White, said the project is still on schedule for completion by the end of 2022. He said the parking structure is currently going through its final fire inspections and should be ready to open in the next few weeks.

Town Manager Ryan Hyland said a new transit center will open along with the parking structure, and he’s excited the town is finally able to provide an indoor space for those traveling through the town.

Bluebird Market, on the corner of Third Street and Blue River Parkway, will be the home to these new restaurants and retail businesses. Only the Old Dillon Inn, which the market was built around, remains vacant.

The Old Dillon Inn has room to house a restaurant and bar, and Fredregill said his team is still looking for the right operator. While building around the inn, they are slightly updating the building while preserving its original charm. Hyland said they are looking for an operator that will keep the history and flavor of the Silverthorne landmark in tact.

“It’s the only space unspoken for, and we really want someone cool to take it,” Fredregill said.

Golf Season Arrives

 

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#Colorado

The Breckenridge Golf Club will open 18 holes to the public on Friday, May 21: The Bear nine and the Beaver nine. The club will open the Elk nine on May 28, weather permitting.

The club’s new Director of Golf Operations Patrick Clary said the course’s maintenance crew has been diligent and adjusted schedules and operations to accommodate some recent intermittent snow and cold weather. The work, Clary said, has enabled the course to open on time. The course opened its driving range and practice putting green Thursday, May 20.

Also on Friday, Keystone Resort’s 18-hole Ranch golf course will open for the season. Keystone’s River course opened last week.

The Raven at Three Peaks Golf Club in Silverthorne plans to open to the public May 28.

Copper Mountain Resort indicates on its website that Copper Creek Golf Course will open for the summer June 11, though the back nine holes of the course will be closed for construction this summer. As a result, golfers who book 18 holes will play the front nine twice.

Breckenridge Ski Resort to close early

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Breckenridge 

Breckenridge Ski Resort has announced that it will be closing down skiing and snowboarding operations earlier than anticipated. While the resort planned to stay open through Memorial Day, it was announced via social media on Tuesday, May 18, that closing day would be moved up to Sunday, May 23.

A tweet from the resort stated that “while we were aiming to ride with you through Memorial Day, Mother Nature had other plans,” alluding to the below-average snow year Summit County has experienced. The resort added that it plans to operate throughout May in future ski seasons.

Breckenridge plans to open up its summer operations June 18, which will include the opening of lift-served mountain biking, the GoldRunner Coaster and Alpine slides.

The “building electrification” movement is coming for your Colorado home. Here’s what you need to know before giving up gas.

They are indeed coming for your gas stove. 

And your trusty 40-gallon tank of hot water sitting atop a natural-gas bonfire. 

And the belching, fuel-burning furnace in the basement that makes a Colorado winter survivable. 

Home and office building electrification — switching out gas or propane appliances for electric versions powered eventually by 100% renewable sources — is on its way to Colorado neighborhoods as a key element of combating greenhouse gas emissions. State officials and environmental groups have spent years clamping down on climate-changing emissions from power utilities and vehicles. So the next frontier is defossilizing the four walls surrounding you. 

“It’s a significant quantity of climate pollution, and a really important area to tackle if we want to hit the goals that we have to reduce climate-change pollution,” said Danny Katz, executive director of the environmental and community advocacy group CoPIRG.

Home and commercial building emissions contribute about 13% of overall U.S. greenhouse gas emissions, according to the Environmental Protection Agency. The primary legs of climate-changing emissions from fossil fuels are power generation, transportation, oil and gas activity, and building use. 

Colorado has about 2.2 million homes — 1.6 million of which are heated by natural gas or propane, Katz said. 

It’s one thing for the distant electric utility to change from coal to solar. Most consumers couldn’t care less what’s on the other end of the transmission line as long as their TVs and phone chargers work when plugged into the wall.

Summit Re/Max recognized in prestigious listing

Both the Breckenridge and Frisco offices of Re/Max Properties of the Summit were listed in the T3 Sixty Mega 1000, a report that presents the nation’s 1,000 largest brokerages by 2020 sales volume, according to the lists website.

According to a news release from Re/Max, the company placed 715 out of 1,000.

“Our agents are committed to providing a premier real estate experience for buyers and sellers, and this honor is the result of their hard work and commitment to excellence,” Re/Max Properties of the Summit Managing Partner Jeff Angell said in the release.

‘This Isn’t a Bubble’

 

The U.S. housing market is on a hot streak with double-digit annual gains in home prices, bidding wars, and surging buyer demand. That type of soaring housing market is prompting more “bubble” fears in some corners, but economists say the housing market isn’t getting overinflated.

“We have strong conviction that we are not experiencing a bubble in U.S. housing,” Vishwanath Tirupattur, a Morgan Stanley strategist, wrote in a note to clients this week.

Lawrence Yun, chief economist of the National Association of REALTORS®, agrees. He told Axios last month: “This is not a bubble. It is simply lack of supply.”

The rapid rise in prices may be concerning to home shoppers, however. The median selling price for a home is up $35,000 compared to a year ago, which is the fastest-paced increase since 2006, Tirupattur said.

But this isn’t 2006. Housing inventories are low, credit remains tight, and lenders aren’t issuing risky loans at rates like they did back then. Product risk—such as from mortgages with introductory periods, teaser rates, or balloon payments—comprised about 40% of the mortgage market between 2004 to 2006. More recently, those factors are now at only 2% of the mortgage market, according to Morgan Stanley.

Also, the housing market has a record low number of homes available for sale. At the end of March, there were 1.07 million homes available for sale, according to NAR data. For comparison, during the housing bubble, in July 2007, there were more than four times that—4 million homes available for sale.

Breckenridge plans Main Street closure for roadwork

 

Main Street in Breckenridge will be closed in both directions between Adams Avenue and Park Avenue beginning Monday, May 10, for roadwork, according to the town.

The closure will last for about two weeks while the town removes and replaces asphalt on the roadway. The road will not reopen at the end of the business day, though the sidewalk will remain fully open. Deliveries on Jefferson Avenue and Adams Avenue will be accommodated during the closure.

Breckenridge business leaders oppose recent town council ideas in public letter

 

A letter opposing recent actions and discussions of the Breckenridge Town Council stirred the pot at Tuesday’s council meeting. Mayor Eric Mamula responded to the letter, and community members chimed in during the public comment period asking the council to work with them to address the lack of attainable workforce housing in town.

The 71 signatures on the letter included both individuals as well as people who signed for their business, including Breckenridge Grand Vacations CEO and co-owner Mike Dudick, Breckenridge Resort Managers President Toby Babich and Breckenridge Associates Real Estate founding partner Rob Neyland. The letter was labeled “One Voice” in an email that was sent to the Town Council and forwarded to the Summit Daily News.

The letter asks the Town Council questions about how a moratorium on short-term rental licenses would address the workforce housing shortage and how the workforce can be sustained with a seasonal economy. Referencing recent discussions where some council members suggested scaling back town events, the letter also asks the council to define how it judges the success of events and other town programs.

https://www.summitdaily.com/news/local/breckenridge-business-leaders-oppose-recent-town-council-ideas-in-public-letter/