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Sunday, September 09, 2012
Late Summer Real Estate Update from Breckenridge and Summit County
Monday, August 27, 2012
Mid-Summer Real Estate Up-date
This was the best week of 2012 for under contract
activity! Listings under contract are up 12%. Sold listings are up
15% and Active listings are down -13%. All for Summit County residential sales
and you can visualize it all here Http://WeeklyREActivity.com .
In 2011 there were two weeks with 50 residential Summit
County properties going under contract and one with 48 (the 48 is actually this
week last year!). This year the county already had one 40 under contract week
and this past week “best of 2012’s” 42 – this week could be another big one for
the county and perhaps another best!
Tracking of the number of residential properties in Summit
County that go under contract shows that last year from the 1st week
of July through now as compared to this year for the same timeframe and weeks
results in 299 properties going under contract in 2011 and 299 properties going
under contract in 2012 for that same time period. Amazingly interesting. August
is up a few deals this year and July is down a few deals this year and all in
all a wash and all in all exactly the same.
If we end the year at that 15% ahead point we are at now,
where will the county be as compared to the peak sold year of 2006 at 2012’s
year end?
Let’s see, our bottom was in 2009 and that was -63% down
from the peak in the number of sales and we started digging out of that bottom
in 2010 with a 10% improvement and in 2011 with a 11.5% improvement. As we
entered 2012 the local Summit County market was roughly -54% down from the peak
in 2006. If we hold that 15% gain we have right now the county will end the
year at -48% down from the peak and if we retain our July and August momentum
we may end the year at a -50% from the peak – however that winds down we
will end 2012 at about half that of 2006 or pretty darn close to the total
number sold in 2008.
Very interesting that it took a couple and a half years for
the local market to bottom out and yet three years into the local recovery the
market has only etched out 13 percentage points from the minus 63% to minus
50%. Or another way is that our market still has to climb back up 79% of the
decline to get back to the peak years. Even with that long way to go the
county’s market is moving steadily in the right direction with three years of
consistent double digit improvement – a market picking up steam.
Very interesting and even more so when you look to your left and your right
there are plenty of associates doing extremely well in this market and they are
following that steady improvement each year that the market has under gone for
the past three years.
One either sees tremendous opportunity or one sees the
obstacles blocking opportunity. I see plenty of opportunity! The county
has a declining associate base (down to 480 now) and an improving transaction
environment; coupled with very high average sold prices – which translates into
very high average commissions earned and all that combined equals great
opportunities. Actually tremendous opportunities to earn big now and build a
big business into the next 3, 5, and ten years….and associates are doing
exactly that right now.
Currently the county has 1563 active residential properties
for sale and of those 38% will sell by year end if the county retains that 15%
lead over last year. Plenty of properties for buyers to pick and choose
their resort homes and, interesting enough, 62% of the properties ‘for
sale’ today will be on the market the first quarter of 2013. Be sure to check
out all the updates and the attached Status Report where you will notice the
Breckenridge office is up 61% for UC’s, the Keystone office is up 31% and the
Frisco office is up 12%.
By the way, a new format for the following Http://HowsTheMarketUpdate.com and
http://WeeklyREActivity.com .
And a whole lot of information at http://AllMarketStats.com .
Tuesday, August 14, 2012
Check out my brand new listing at the Lift Condos that is just a "stones throw" from the Quick Silver lift as well as, Downtown Breckenridge shopping and dining. Huge Views, stainless appliances and granite kitchen counters. Two bedroom/loft, 3 bathrooms, 1361 SF & priced to sell, only $565,000! Contact me today!
http://
Monday, July 30, 2012
Breckenridge and Summit County Colorado
How's The Market YTD
2012?
Now that we
have reached the mid-way point of 2012:
The current number of residential
properties for sale in Summit County is 1600 which is down 15%, compared to the
first half of 2011.
508 properties have sold so
far which is an increase of 16%. Further, 214
properties are pending/under contract, a 33%
increase.
Of particular interest in
the present market...The average listing price of those properties that are
under contract right now, is less than the average sold price of properties so
far this year.
The average sold price in
the county is down 4% and once the current inventory that is under contract
today start to close, one would expect the average sold price to adjust downward
as well.
Another tid bit, the
average sold price this year would have to go up 35% to equal the average list
price of the properties listed for sale today. So, obviously, we still have a
whole lot of overpriced properties still on the market.
So what does this
mean?
I think you know the
answer...properties priced to the present market are the ones selling. And, we
have really nice selection of great ones still out there to buy. Now is the time to buy.
Click the link below to
view all the market statistics year-to-date:
Saturday, May 19, 2012
Summit County wins bronze level recognition for cycling
Summit County joined Breckenridge on an elite list
of bike-friendly communities, winning a bronze level recognition this year for
its efforts to make the community safe and enjoyable for bikers.
The League of American Bicyclists selected Summit County for the first time, determining that the local government had demonstrated the early stages of a strong commitment to cycling and had “room to grow,” according to a statement from county officials.
Bronze is the first of the organization's four levels — below silver, gold and platinum — of recognition of municipalities' efforts to accommodate cycling.
“This designation confirms Summit County's commitment to serve the bicycling community and to promote our recreation pathway system,” County Commissioner Karn Stiegelmeier stated in a recent release. “The recpaths are an important county asset enjoyed by locals while serving as an attraction for our summer visitors.”
Fifteen percent of county roads also accommodate bicycles, and two thirds of side streets have bike lanes or paved shoulders.
A dedicated bike page on the county website along with safety education and training efforts for everyone from Summit Middle and High School students to law enforcement officers and bus drivers also helped score Summit County the designation.
Events like the Pro Cycling Challenge, Copper Triangle Triple By-Pass, Children's Hospital Courage Classic and the Circle the Summit/Bob Guthrie Memorial Ride helped secure the bike-friendly community title as well.
But the work isn't done, county officials say.
“We're going to continue to look at more ways to improve our bicycle and pedestrian facilities,” assistant county manager Thad Noll said. “Every time we do a road project we think about how we can make it better for bicycles.”
A resurfacing project planned for Dillon Valley this summer will include a bit of extra work to widen the road for cyclists, an important improvement in an area often used by children on bikes.
The county also partnered with the Colorado Department of Transportation this year to improve the shoulders and highway on Vail Pass to make the area safer for cyclists.
Breckenridge was designated a gold-level bike-friendly community last year. There are now more than 200 municipalities nationwide that hold the title. Only three, Boulder, Davis, Calif., and Portland, Ore., have reached the top, platinum level recognition.
Durango graduated to a gold-level designation, while Aspen reached silver this year.
The League of American Bicyclists selected Summit County for the first time, determining that the local government had demonstrated the early stages of a strong commitment to cycling and had “room to grow,” according to a statement from county officials.
Bronze is the first of the organization's four levels — below silver, gold and platinum — of recognition of municipalities' efforts to accommodate cycling.
“This designation confirms Summit County's commitment to serve the bicycling community and to promote our recreation pathway system,” County Commissioner Karn Stiegelmeier stated in a recent release. “The recpaths are an important county asset enjoyed by locals while serving as an attraction for our summer visitors.”
Fifteen percent of county roads also accommodate bicycles, and two thirds of side streets have bike lanes or paved shoulders.
A dedicated bike page on the county website along with safety education and training efforts for everyone from Summit Middle and High School students to law enforcement officers and bus drivers also helped score Summit County the designation.
Events like the Pro Cycling Challenge, Copper Triangle Triple By-Pass, Children's Hospital Courage Classic and the Circle the Summit/Bob Guthrie Memorial Ride helped secure the bike-friendly community title as well.
But the work isn't done, county officials say.
“We're going to continue to look at more ways to improve our bicycle and pedestrian facilities,” assistant county manager Thad Noll said. “Every time we do a road project we think about how we can make it better for bicycles.”
A resurfacing project planned for Dillon Valley this summer will include a bit of extra work to widen the road for cyclists, an important improvement in an area often used by children on bikes.
The county also partnered with the Colorado Department of Transportation this year to improve the shoulders and highway on Vail Pass to make the area safer for cyclists.
Breckenridge was designated a gold-level bike-friendly community last year. There are now more than 200 municipalities nationwide that hold the title. Only three, Boulder, Davis, Calif., and Portland, Ore., have reached the top, platinum level recognition.
Durango graduated to a gold-level designation, while Aspen reached silver this year.
Sunday, May 13, 2012
It's Still a Buyer's Market
It's always a beautiful day in "Colorado's Playground" of Summit County Colorado! Welcome.
It is still a Buyers' market in Breckenridge and the surrounding communities. Properties that are priced for the present market are great values. This, along with almost historic low interest rates makes it the best time in a long time to buy into the lifestyle of Breckenridge, Frisco, Copper Mt., Dillon, Keystone or Silverthorne, Colorado.
Are you looking for your Colorado rocky Mountain get-away with a panorama of views everywhere you look? Look no further. With thousands of acres of mountain terrain for the winter activities that you already love, summers that bring 70 degree sunny days for hiking, biking and playing one of our pristine golf courses. Summit County colorado offers it all.
And look no further for a knowledgeable, experienced Realtor that understands the most important real estate transaction is YOUR'S. It is my goal to build the proper business relationship with you so that you feel 100% comfortable with me and I feel 100% comfortable with you.
I am your #1 choice for finding your 1st lifestyle investment or your 5th. Or maybe you're interested in selling your current property. I will take you easily through the real estate process and provide you reliable and honest information.
The real estate industry is most sophisticated and challenging these days. You need a professional Realtor that understands the market and is positioned to stay ahead of the game in Summit County. I know the Summit County Colorado area like the back of my hand.
Your Realtor, Nancy Yearout
Be sure to click on "How's the Market Update" just below for the most current state of the local market:
How's The Market Update
Sunday, April 29, 2012
New Members of the Colorado Ski and Snowboard Hall of Fame Announced
The Colorado Ski & Snowboard Hall of Fame has announced the election of Bill
Bergman, Toby Dawson, Jerry Gart, Tom Jankovsky, John Meyer, Paul Testwuide and
Ralph Walton into the Hall of Fame class of 2012. They will join a prestigious
group of Hall of Fame athletes and visionaries who have made significant
contributions to the Colorado ski industry when they are formally inducted
during the 36th annual Colorado Ski & Snowboard Hall of Fame Induction Gala
in October.
Max Dercum revealed
“Dercum's Dream,” his vision of creating and developing Keystone, to Iowa
attorney Bill Bergman. Dercum had the vision but Bergman possessed the business
savvy skills to turn it into reality. He is credited as the individual who
transformed skiing into a corporate enterprise. Bergman was able to expand the
resort by designing environmentally friendly trails and installing snowmaking
capabilities. Bergman laid the groundwork for standard practices in leading
resorts that are still used today.
Adopted from an orphanage
in South Korea by Vail ski instructors, Toby “Awesome” Dawson's time on the Vail
slopes led to seven years on the U.S. Ski Team, winning seven World Cup titles,
17 podium finishes and he became the 2006 Olympic bronze medalist in freestyle
skiing. He helped with South Korea's winning bid for the 2018 Winter Olympic
Games and is now the South Korean National Ski Team coach.
The 1976 marketing director
for Ski Industries of America, Jerry Gart opened 70 Gart Brother's Sporting
Goods, famous for SNIGRAB and brought affordable ski equipment to Colorado
residents. His ski carpet inside the store gave guests the experience of skiing.
He established Denver Post/Gart Bros. Ski School and founded the Colorado Ski
Country USA Ski Lift program.
Tom has worked 25-years
as the general manager of Sunlight Mountain Resort and 24-years on the Board of
Trustees for Colorado Ski Country USA. He championed the Colorado Gems and the
5th Grade Passport Program, created the successful Glenwood Springs marketing
campaign: Ski, Swim and Stay, which has increased overnight stays and tourism.
After John Meyer moved to
Denver in 1981, he began his 25-year career as the American ski writer for The
Denver Post and the Rocky Mountain News. He has written for six Winter Olympic
Games, covered four FIS Alpine Ski World Championships and 100 FIS World Cup
events. John has been recognized as “America's Ski Writer” and is a dean of
Olympic journalists in America.
In 1963, Paul Testwuide
came to Vail as a trail crew member and went on to become Vail Ski Patrol
Director and ultimately became Vail's Chief Operating Officer. He secured water
rights for snowmaking, which became a model for the rest of the Colorado ski
industry to follow. He managed sustainable development of Blue Sky Basin and the
rebuild of Two Elks after the ELF arson fires.
In 1970, Ralph Walton
purchased then-bankrupt Crested Butte Mountain Resort. In three decades, he
pioneered non-stop jet service to the ski area, developed a base village and
subsequent subdivisions. He was on the Board of Directors for Colorado Ski
Country USA and received a Lifetime Achievement Award from the National Ski
Areas Association.
Bill Bergman
Max Dercum revealed
“Dercum's Dream,” his vision of creating and developing Keystone, to Iowa
attorney Bill Bergman. Dercum had the vision but Bergman possessed the business
savvy skills to turn it into reality. He is credited as the individual who
transformed skiing into a corporate enterprise. Bergman was able to expand the
resort by designing environmentally friendly trails and installing snowmaking
capabilities. Bergman laid the groundwork for standard practices in leading
resorts that are still used today.
Toby Dawson
Adopted from an orphanage
in South Korea by Vail ski instructors, Toby “Awesome” Dawson's time on the Vail
slopes led to seven years on the U.S. Ski Team, winning seven World Cup titles,
17 podium finishes and he became the 2006 Olympic bronze medalist in freestyle
skiing. He helped with South Korea's winning bid for the 2018 Winter Olympic
Games and is now the South Korean National Ski Team coach.
Jerry Gart
The 1976 marketing director
for Ski Industries of America, Jerry Gart opened 70 Gart Brother's Sporting
Goods, famous for SNIGRAB and brought affordable ski equipment to Colorado
residents. His ski carpet inside the store gave guests the experience of skiing.
He established Denver Post/Gart Bros. Ski School and founded the Colorado Ski
Country USA Ski Lift program.
Tom Jankovsky
Tom has worked 25-years
as the general manager of Sunlight Mountain Resort and 24-years on the Board of
Trustees for Colorado Ski Country USA. He championed the Colorado Gems and the
5th Grade Passport Program, created the successful Glenwood Springs marketing
campaign: Ski, Swim and Stay, which has increased overnight stays and tourism.
John Meyer
After John Meyer moved to
Denver in 1981, he began his 25-year career as the American ski writer for The
Denver Post and the Rocky Mountain News. He has written for six Winter Olympic
Games, covered four FIS Alpine Ski World Championships and 100 FIS World Cup
events. John has been recognized as “America's Ski Writer” and is a dean of
Olympic journalists in America.
Paul Testwuide
In 1963, Paul Testwuide
came to Vail as a trail crew member and went on to become Vail Ski Patrol
Director and ultimately became Vail's Chief Operating Officer. He secured water
rights for snowmaking, which became a model for the rest of the Colorado ski
industry to follow. He managed sustainable development of Blue Sky Basin and the
rebuild of Two Elks after the ELF arson fires.
Ralph Walton
In 1970, Ralph Walton
purchased then-bankrupt Crested Butte Mountain Resort. In three decades, he
pioneered non-stop jet service to the ski area, developed a base village and
subsequent subdivisions. He was on the Board of Directors for Colorado Ski
Country USA and received a Lifetime Achievement Award from the National Ski
Areas Association.
Saturday, April 14, 2012
How's The Market 2012?
The 1st quarter 2012 compared with 2011 has proven to be very, very interesting...
Single family homes sales were up 50% - 54 sold last year vs. 81 this year. 41% were in the $500K to $1Mil range and 36% were $1 Mil to $1.5 Mil. The 2011 average sale price for single family homes was $541,926 in 2011 and this year it was $748,356. That's a 7.2% jump!
Duplex and townhome sales were pretty much flat in sales and average sale prices, but condos took a pretty good hit in sales being off 21.4% and sale prices also off 16.1%
Of course, condo sales are often off in the 1st quarter as rental occupancies preclude showings and it is a bit hard to sell sight unseen.
Another interesting aspect to the 1sr quarter puzzle...new properties listed for sale are down 12%. Hmm, fewer properties to buy bodes well for at least stabler prices, maybe continued pressure upward???
Still early in the new year, and we will get a better picture when as the year progresses.
What I do know is, 2012 is the best time to buy in over 20 years! Buyers needed!
Click on this link to see all market stats for 2012 - All Market Stats
Now to the National Investment front - The National Association of Realtors(NAR) report in their 2012 Investment and Vacation Home Buyers Survey showed that investment/vacation home sales surged an extraordinary 64.5% to 1.23 million last year from 749,000 in 2010.
To read the full report - NAR: Vacation Home Survey Report
Saturday, March 24, 2012
Construction Underway on Largest Single Family Home in Breckenridge
Groundbreaking began March 19 on what will be the largest single-family home ever built in Breckenridge. The Bennett Residence, a 15,000-square-foot custom home designed by Michael F. Gallagher Architect and built by Double Diamond Property & Construction Services, is being built in the Shock Hill neighborhood.
“This is an incredible home and a great economic boost for the town of Breckenridge,” said Michael Gallagher, the architect for the project. “There aren't many projects of this size and scope being built these days, so it's particularly gratifying to see the economic impact this project will have. Permits and other fees are over $45,000 alone. The owner, Mr. Bennett, seriously considered building in several different resort areas but he liked Breckenridge's proximity to Denver and the access to the Breckenridge Nordic Center right out his door. We're very happy he is able to build his dream vacation home here.”
Gallagher and builder Arnie Surdyk of Double Diamond Property & Construction Services of Breckenridge estimate that they will hire over 20 subcontractors and approximately 100-150 construction workers. They plan to work with as many Summit County companies as possible. The home will take at least 20 months to complete.
“The owner is very enthusiastic about hiring local workers and using Colorado materials whenever possible,” said Gallagher. “All of the cabinets are being fabricated in Leadville by Cutting Edge Woodworking. Our stone and wood flooring is being sourced through Telluride Stone Company. We hope to buy most of our construction materials in Colorado.”
“This is an incredible home and a great economic boost for the town of Breckenridge,” said Michael Gallagher, the architect for the project. “There aren't many projects of this size and scope being built these days, so it's particularly gratifying to see the economic impact this project will have. Permits and other fees are over $45,000 alone. The owner, Mr. Bennett, seriously considered building in several different resort areas but he liked Breckenridge's proximity to Denver and the access to the Breckenridge Nordic Center right out his door. We're very happy he is able to build his dream vacation home here.”
Gallagher and builder Arnie Surdyk of Double Diamond Property & Construction Services of Breckenridge estimate that they will hire over 20 subcontractors and approximately 100-150 construction workers. They plan to work with as many Summit County companies as possible. The home will take at least 20 months to complete.
“The owner is very enthusiastic about hiring local workers and using Colorado materials whenever possible,” said Gallagher. “All of the cabinets are being fabricated in Leadville by Cutting Edge Woodworking. Our stone and wood flooring is being sourced through Telluride Stone Company. We hope to buy most of our construction materials in Colorado.”
About the home
The showcase custom home is being built on a site of just over an acre, with a building envelope of 11,000 square feet. “Getting a home of this size, with a two-lane bowling alley and large garage to fit the allowable building envelope was quite challenging,” Gallagher said. “The home is basically a three-story home, but technically there are seven different levels, with five bedrooms and eight baths. The rooms are rather large and the entertainment facilities are quite generous. There is the bowling alley, an audiophile listening room with a projection screen TV and lounge area around the fireplace. There is also a game room that includes pool, foosball, shuffleboard, poker, a bar and a wine cellar. All of the bedroom suites are as large as master suites in most homes in Breckenridge.”
Other features of the home include an elevator, a separate catering kitchen, both downhill and Nordic ski rooms, a private library, a drying closet, hot tub, sauna, steam room and three laundry facilities.
The home features an oversized three-car garage and an outdoor living room with a fireplace and grilling kitchen, plus numerous open patios and covered decks.
“With a home of this size, it is important to keep everything feeling connected and keep some areas intimate. We worked very hard to make sure the design feels like a home and feels comfortable for the owner, his family and guests. The design was inspired by the grand lodges of the western national parks as well as Adirondack camps.
“We worked very closely with the town of Breckenridge to minimize the environmental impacts a home of this size will have,” continued Gallagher. “For example, the site will have 11 geothermal wells, each 400 feet deep, which will be used to heat the home. The home will have the very best insulation and the most efficient mechanical products available today.
“It's an exciting project for myself and for the Town of Breckenridge,” Gallagher said. “We hope this will spur other projects in Summit County and breathe some life into the construction industry.”
Other features of the home include an elevator, a separate catering kitchen, both downhill and Nordic ski rooms, a private library, a drying closet, hot tub, sauna, steam room and three laundry facilities.
The home features an oversized three-car garage and an outdoor living room with a fireplace and grilling kitchen, plus numerous open patios and covered decks.
“With a home of this size, it is important to keep everything feeling connected and keep some areas intimate. We worked very hard to make sure the design feels like a home and feels comfortable for the owner, his family and guests. The design was inspired by the grand lodges of the western national parks as well as Adirondack camps.
“We worked very closely with the town of Breckenridge to minimize the environmental impacts a home of this size will have,” continued Gallagher. “For example, the site will have 11 geothermal wells, each 400 feet deep, which will be used to heat the home. The home will have the very best insulation and the most efficient mechanical products available today.
“It's an exciting project for myself and for the Town of Breckenridge,” Gallagher said. “We hope this will spur other projects in Summit County and breathe some life into the construction industry.”
Courtesy Summit Daily News
Wednesday, March 14, 2012
Good News in the Real Estate Market
For the first time in 18 months, home prices in February rose higher. With a median price of $171,881, prices in the 53 cities surveyed by the RE/MAX National Housing Report rose by 1.1% over February 2011. Home sales were even higher, up 8.7% from one year ago. With a positive sales trend of 8 straight months above the previous year, it’s looking like 2012 will witness a very strong home-selling season. As a result of reduced foreclosure activity, inventory continued a downward trend for the 20thstraight month, 22.4% lower than the housing inventory in February 2011. Consumer sentiment appears to be rising, and record low mortgage rates coupled with favorable home prices are attracting homebuyers and investors who don’t want to miss a historic opportunity.
"All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market."said Margaret Kelly, CEO of RE/MAX, LLC. "As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it’s finally starting."
Home Prices Start to Rise, Sales Trend Higher: Housing Recovery Underway
TRANSACTIONS–YEAR-OVER-YEAR CHANGE
Home Sales in February were 8.7% higher than sales in February 2011. This was the 8thstraight month year-to-year sales have risen. February home sales were also 8.1% higher than sales in January. Of the 53 metro areas included in the survey, 45 saw increases over February last year and an impressive 26 metro areas saw double-digit jumps, including: Albuquerque, NM +46.6%, Providence, RI +36.7%, Raleigh, NC +33.8%, Boston, MA +30.5% and Chicago, IL +27.5%.
The Median Sales Price of homes sold in February was $171,881. This price represents a 1.4% increase from January, and a 1.1% rise from the median price seen in February 2011. February is the first time in 18 months that the year-to-year home price has increased. Of the 53 metro areas included in the February survey, 24 experienced price increases from February 2011, including: Miami, FL +20.5%, Orlando, FL +15.8%, Phoenix, AZ +12.5%, Tampa, FL +11.1%, St. Louis, MO +9.8% and Detroit, MI +8.9%.
DAYS ON MARKET–AVERAGEOF 53 METRO AREAS
The average Days on Market for properties sold in February was 103, the same as for the month of January, and the same average seen in February 2011. Only two months in the last 12 months saw a Days on Market average below 90: July and September both reported 88. Days on Market is the number of days between first being listed in an MLS and when a sales contract is signed.
In the month of February, the average inventory of homes-for-sale in the 53 surveyed metro areas dropped 0.8% from January and also dropped 22.4% from February 2011. Month-to month inventories have now fallen for 20 consecutive months. Given the current rate of sales, and the size of the active inventory, the resulting Months Supply is 6.6 months, a drop from the 7.3 month supply seen in January, and significantly lower than the 9.3 month supply reported in February 2011. Months Supply is the number of months it would take to clear a market’s active inventory at the current rate of sales. A six-month supply is considered a balanced market between buyers and sellers.
"All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market."said Margaret Kelly, CEO of RE/MAX, LLC. "As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it’s finally starting."
Home Prices Start to Rise, Sales Trend Higher: Housing Recovery Underway
TRANSACTIONS–YEAR-OVER-YEAR CHANGE
Home Sales in February were 8.7% higher than sales in February 2011. This was the 8thstraight month year-to-year sales have risen. February home sales were also 8.1% higher than sales in January. Of the 53 metro areas included in the survey, 45 saw increases over February last year and an impressive 26 metro areas saw double-digit jumps, including: Albuquerque, NM +46.6%, Providence, RI +36.7%, Raleigh, NC +33.8%, Boston, MA +30.5% and Chicago, IL +27.5%.
The Median Sales Price of homes sold in February was $171,881. This price represents a 1.4% increase from January, and a 1.1% rise from the median price seen in February 2011. February is the first time in 18 months that the year-to-year home price has increased. Of the 53 metro areas included in the February survey, 24 experienced price increases from February 2011, including: Miami, FL +20.5%, Orlando, FL +15.8%, Phoenix, AZ +12.5%, Tampa, FL +11.1%, St. Louis, MO +9.8% and Detroit, MI +8.9%.
DAYS ON MARKET–AVERAGEOF 53 METRO AREAS
The average Days on Market for properties sold in February was 103, the same as for the month of January, and the same average seen in February 2011. Only two months in the last 12 months saw a Days on Market average below 90: July and September both reported 88. Days on Market is the number of days between first being listed in an MLS and when a sales contract is signed.
In the month of February, the average inventory of homes-for-sale in the 53 surveyed metro areas dropped 0.8% from January and also dropped 22.4% from February 2011. Month-to month inventories have now fallen for 20 consecutive months. Given the current rate of sales, and the size of the active inventory, the resulting Months Supply is 6.6 months, a drop from the 7.3 month supply seen in January, and significantly lower than the 9.3 month supply reported in February 2011. Months Supply is the number of months it would take to clear a market’s active inventory at the current rate of sales. A six-month supply is considered a balanced market between buyers and sellers.
Monday, March 05, 2012
Wild Colorado: Tracking tracks in the snow
A set of tracks zigzags across the slope below the chairlift, seemingly random and haphazard.
They backtrack on themselves, seem to cover little to no ground and are dotted here and there with snow disturbances, like something was digging or just stuck its head in the snow.
These are likely fox tracks, says Dan Eberle, the youth coordinator at Friends of the Dillon Ranger District, a nonprofit that works on the ground alongside the Forest Service. The organization coordinates volunteers to do trail work and education that Forest Service officials aren't able to do due to funding priorities.
They look lost, Eberle said about the fox tracks. But they're really listening and smelling for subnivean creatures such as mice and voles that rely on winter snow cover for survival. Such creatures move under the snow, where, when it's deep enough, it remains a constant 32 degrees regardless of the temperature above snow. Subnivean is the term used to describe the zone just under the snow from the Latin for under (sub) and snow (nives).
Fox and owls can hear their prey through the snow and pounce from above, said Eberle.
Those are the variable holes amidst the tracks.
When you see disturbances in the snow, that's where fox jump in and pound through the snow. Sometimes they stumble on a nest, Eberle said.
Different tracks, different stories
Fox are less aggressive hunters than the more elusive ermine, a type of short-tailed weasel that storms nests of critters and demolishes them, Eberle said. He's once spotted the white weasel with its black tail only once, but it was early in the morning as he trekked to the top of Keystone's snowy slopes before the resort opened. Rarely, if ever, has Eberle come across the ermine's tracks.
Different tracks tell different stories, said Eberle, who partners with Daniel Rudolf on Fridays at Keystone Resort to guide visitors and locals on an hour-long, free interpretive tour of Summit County's snowy environment.
For instance, a pine squirrel doesn't like to stay on the ground long, so its tracks are quick, running from tree to tree.
Typically, snowshoe hare prints are tucked close to trees, which they use for cover.
As prey, both animals look to their various habitats for safety when they're not out foraging for food. Sometimes, a predator's tracks can run alongside its prey, which tells the story of a hunt and possibly a kill.
Often, Eberle finds it interesting to point out that snowshoe hare tracks represent movement in the opposite direction from which they appear. The larger hind legs land in front of the smaller front legs, he said. It's intuitive to think the larger hind legs would be behind the front legs, and that fools fellow creatures as well as humans.
Their tracks send mixed signals and deceive predators, Eberle said. It's not something they do on purpose, obviously, but said it's a type of biological confusion that's part of the natural environment.
Deer and elk tracks aren't as common in the High Country in winter, because the large game animals typically migrate to lower elevations where food supply is more prevalent. Otherwise, they're burning more energy than they're taking in, looking for food, Eberle said. Moose tracks could be more common, but it's not likely to see them at the ski resort, as they're more solitary creatures that live near wetter drainages.
It's easy to see some tracks from the chairlift, but Eberle and Rudolf's Ski With a Ranger Program and similar programs at Copper Mountain and Breckenridge Ski Resort get skiers to slow down and take a look in tree islands for tracks elsewhere on the mountain. Sometimes, animals and humans look to the same lines for travel, too. Skiers who pop into the trees often come across animal tracks that run the length of the line they're looking to ride.
Though feline and canine tracks aren't common at the resort, Eberle noted their major differences for those hiking or traveling in the backcountry: Feline claws can retract while canine claws don't.
So, if one comes across a large, roundish, fist-sized print without claw marks, it's likely a mountain lion's track. A smaller print with claws that's longer rather than wider, and more oval-shaped could be a coyote or a domestic dog.
Take a minute next time you're out and look around you just might stumble across an animal's tale in the snow.
More info:
Learn more about animal tracks in winter through Friends of the Dillon Ranger District's Ski With a Ranger program, which runs at 11 a.m. Fridays at Keystone Resort, Breckenridge Ski Resort and Copper Mountain.
Call (970) 262-3449 (970) 262-3449 , email info@fdrd.org or visit www.fdrd.org for more information on the tours.
Friends of the Dillon Ranger District also offers similar interpretive tours in summer, which can showcase an entirely different realm of High Country wildlife. Look to the website for the upcoming schedule.
Courtesy Summit Daily News
They backtrack on themselves, seem to cover little to no ground and are dotted here and there with snow disturbances, like something was digging or just stuck its head in the snow.
These are likely fox tracks, says Dan Eberle, the youth coordinator at Friends of the Dillon Ranger District, a nonprofit that works on the ground alongside the Forest Service. The organization coordinates volunteers to do trail work and education that Forest Service officials aren't able to do due to funding priorities.
They look lost, Eberle said about the fox tracks. But they're really listening and smelling for subnivean creatures such as mice and voles that rely on winter snow cover for survival. Such creatures move under the snow, where, when it's deep enough, it remains a constant 32 degrees regardless of the temperature above snow. Subnivean is the term used to describe the zone just under the snow from the Latin for under (sub) and snow (nives).
Fox and owls can hear their prey through the snow and pounce from above, said Eberle.
Those are the variable holes amidst the tracks.
When you see disturbances in the snow, that's where fox jump in and pound through the snow. Sometimes they stumble on a nest, Eberle said.
Different tracks, different stories
Fox are less aggressive hunters than the more elusive ermine, a type of short-tailed weasel that storms nests of critters and demolishes them, Eberle said. He's once spotted the white weasel with its black tail only once, but it was early in the morning as he trekked to the top of Keystone's snowy slopes before the resort opened. Rarely, if ever, has Eberle come across the ermine's tracks.
Different tracks tell different stories, said Eberle, who partners with Daniel Rudolf on Fridays at Keystone Resort to guide visitors and locals on an hour-long, free interpretive tour of Summit County's snowy environment.
For instance, a pine squirrel doesn't like to stay on the ground long, so its tracks are quick, running from tree to tree.
Typically, snowshoe hare prints are tucked close to trees, which they use for cover.
As prey, both animals look to their various habitats for safety when they're not out foraging for food. Sometimes, a predator's tracks can run alongside its prey, which tells the story of a hunt and possibly a kill.
Often, Eberle finds it interesting to point out that snowshoe hare tracks represent movement in the opposite direction from which they appear. The larger hind legs land in front of the smaller front legs, he said. It's intuitive to think the larger hind legs would be behind the front legs, and that fools fellow creatures as well as humans.
Their tracks send mixed signals and deceive predators, Eberle said. It's not something they do on purpose, obviously, but said it's a type of biological confusion that's part of the natural environment.
Deer and elk tracks aren't as common in the High Country in winter, because the large game animals typically migrate to lower elevations where food supply is more prevalent. Otherwise, they're burning more energy than they're taking in, looking for food, Eberle said. Moose tracks could be more common, but it's not likely to see them at the ski resort, as they're more solitary creatures that live near wetter drainages.
It's easy to see some tracks from the chairlift, but Eberle and Rudolf's Ski With a Ranger Program and similar programs at Copper Mountain and Breckenridge Ski Resort get skiers to slow down and take a look in tree islands for tracks elsewhere on the mountain. Sometimes, animals and humans look to the same lines for travel, too. Skiers who pop into the trees often come across animal tracks that run the length of the line they're looking to ride.
Though feline and canine tracks aren't common at the resort, Eberle noted their major differences for those hiking or traveling in the backcountry: Feline claws can retract while canine claws don't.
So, if one comes across a large, roundish, fist-sized print without claw marks, it's likely a mountain lion's track. A smaller print with claws that's longer rather than wider, and more oval-shaped could be a coyote or a domestic dog.
Take a minute next time you're out and look around you just might stumble across an animal's tale in the snow.
More info:
Learn more about animal tracks in winter through Friends of the Dillon Ranger District's Ski With a Ranger program, which runs at 11 a.m. Fridays at Keystone Resort, Breckenridge Ski Resort and Copper Mountain.
Call (970) 262-3449 (970) 262-3449 , email info@fdrd.org or visit www.fdrd.org for more information on the tours.
Friends of the Dillon Ranger District also offers similar interpretive tours in summer, which can showcase an entirely different realm of High Country wildlife. Look to the website for the upcoming schedule.
Courtesy Summit Daily News
Saturday, February 25, 2012
Breckenridge architect wins multiple awards at Parade of Homes
The Stafford residence, a 5,000-square-foot home in Breckenridge designed by local architect Michael F. Gallagher, recently won eight awards in the Summit County Builder's Association Parade of Homes.
The house won Best Overall Home for the entire contest, regardless of square footage.
In the 5,001-6,000 square feet category, it earned first place in Exterior Design and Elevation, Best Kitchen, Best Master Bedroom Suite and Best Home. In addition, Alan Evans of Elevation Building Group took first place in Builder Concept and Workmanship for his construction work on the home and NorthPoint Design won first place in their category for both Interior Furnishings and Interior Finishes.
The 2011 Parade of Homes featured 18 multi-family and remodeled homes throughout Summit County.
Gallagher said although his name is on the awards, “it's really a group effort.”
“Much of the credit goes to the builder, his subcontractors and suppliers, and the clients,” he said. “This would not be possible without great clients.”
Situated high atop a ridge overlooking the Breckenridge Golf Club, the views from the four-bedroom, five-bathroom home extend to the entire Ten Mile Range.
“Every room has a fantastic view,” Gallagher said. “I designed the home to take advantage of what the site offered.”
Gallagher worked closely with the owners to design a home on the steep lot that feels completely level and accessible. There's an open-floor plan, and the entire living quarters are on one level, with upper floors designed to accommodate guests, children and future grandchildren. Adjacent homes are virtually invisible from every room in the home.
“Everything that the owners need in their retirement home is on one level — that required creativity to overcome the topography of the site,” Gallagher said.
Courtesy Summit Daily News
The house won Best Overall Home for the entire contest, regardless of square footage.
In the 5,001-6,000 square feet category, it earned first place in Exterior Design and Elevation, Best Kitchen, Best Master Bedroom Suite and Best Home. In addition, Alan Evans of Elevation Building Group took first place in Builder Concept and Workmanship for his construction work on the home and NorthPoint Design won first place in their category for both Interior Furnishings and Interior Finishes.
The 2011 Parade of Homes featured 18 multi-family and remodeled homes throughout Summit County.
Gallagher said although his name is on the awards, “it's really a group effort.”
“Much of the credit goes to the builder, his subcontractors and suppliers, and the clients,” he said. “This would not be possible without great clients.”
Situated high atop a ridge overlooking the Breckenridge Golf Club, the views from the four-bedroom, five-bathroom home extend to the entire Ten Mile Range.
“Every room has a fantastic view,” Gallagher said. “I designed the home to take advantage of what the site offered.”
Gallagher worked closely with the owners to design a home on the steep lot that feels completely level and accessible. There's an open-floor plan, and the entire living quarters are on one level, with upper floors designed to accommodate guests, children and future grandchildren. Adjacent homes are virtually invisible from every room in the home.
“Everything that the owners need in their retirement home is on one level — that required creativity to overcome the topography of the site,” Gallagher said.
Courtesy Summit Daily News
Sunday, February 12, 2012
Using shoulders looked to for another I-70 fix
Local and state highway officials returned from a trip to Minnesota last week armed with a new, and surprisingly simple idea to help ease weekend congestion on Interstate 70: Use the shoulders.
Highway shoulder space has been successfully transformed into an extra lane of travel to help increase traffic flow on Interstate 94 between Minneapolis and St. Paul, a concept officials say might work on I-70.
“We're excited,” Colorado Department of Transportation engineer Peter Kozinski. “It's a way of using the pavement we have.”
A hard shoulder lane on I-70 would run from the U.S. 40/Empire Junction to the Twin Tunnels, where an eastbound three-laning project is already funded and in the works, and would be used only during peak traffic times to help maximize capacity.
But the concept would require additional research, an environmental process and an estimated $30 million to implement. CDOT is far from giving it the green light.
“What we need to do is then carry on conversations with the locals and see what it really means,” Kozinski said. “It's not something we're walking away from at this point, but it's also not something we're just going to charge into blindly.”
Though CDOT is beginning to discuss the concept with locals and look at early feasibility research, a hard shoulder lane is not something drivers are likely to see by this summer, or even next summer, Kozinski said.
Not a zipper lane
The hard-shoulder concept, officials say, is not a zipper lane.
The controversial zipper lane idea would have reverted a westbound lane to be used for eastbound traffic during peak travel times, posing safety risks and impacting westbound traffic.
A shoulder lane would have no impact on the opposite side of the highway. With some re-striping, it would allow traffic to use the space on the outside of the highway during heavy traffic times.
The Federal Highway Administration paid for CDOT officials as well as Summit County Commissioner Dan Gibbs and Clear Creek County commissioners to travel to Minnesota last week to observe the hard-shoulder lane system first hand.
“I'm sold on it,” Gibbs said this week after returning to Summit County. “In my opinion, that's a real early-action item. That's something that could happen.”
A 12-foot shoulder is considered ideal to allow emergency vehicles to bypass traffic to respond to accidents.
The hard shoulder lane as it is implemented in Minnesota, however, preserves 3 feet of bypass space, which, Gibbs said, still turns out to be enough.
“Folks do their best to get out of the way as quickly as possible,” Gibbs said. “It might increase the timeframe for emergency services to get to someone by a couple minutes, but it's not a huge gap. It's minimal.”
In Colorado, highway shoulders are also used for snow storage when CDOT is plowing the roads. Kozinski said the shoulder lane wouldn't be operational during heavy winter storms.
Though CDOT director Don Hunt has warned Coloradans to be prepared for tolling to be a part of new highway capacity projects in the future, the transportation department hasn't had any discussions on whether a shoulder lane on I-70 would be tolled, according to Kozinski.
“That's a much larger conversation,” he said. “We really haven't given that any thought at this point in time.”
Congestion-priced tolling is used on hard shoulder lanes in Minnesota, with higher prices during peak hours to encourage drivers to travel during off-peak times.
Courtesy Summit Daily News
Highway shoulder space has been successfully transformed into an extra lane of travel to help increase traffic flow on Interstate 94 between Minneapolis and St. Paul, a concept officials say might work on I-70.
“We're excited,” Colorado Department of Transportation engineer Peter Kozinski. “It's a way of using the pavement we have.”
A hard shoulder lane on I-70 would run from the U.S. 40/Empire Junction to the Twin Tunnels, where an eastbound three-laning project is already funded and in the works, and would be used only during peak traffic times to help maximize capacity.
But the concept would require additional research, an environmental process and an estimated $30 million to implement. CDOT is far from giving it the green light.
“What we need to do is then carry on conversations with the locals and see what it really means,” Kozinski said. “It's not something we're walking away from at this point, but it's also not something we're just going to charge into blindly.”
Though CDOT is beginning to discuss the concept with locals and look at early feasibility research, a hard shoulder lane is not something drivers are likely to see by this summer, or even next summer, Kozinski said.
Not a zipper lane
The hard-shoulder concept, officials say, is not a zipper lane.
The controversial zipper lane idea would have reverted a westbound lane to be used for eastbound traffic during peak travel times, posing safety risks and impacting westbound traffic.
A shoulder lane would have no impact on the opposite side of the highway. With some re-striping, it would allow traffic to use the space on the outside of the highway during heavy traffic times.
The Federal Highway Administration paid for CDOT officials as well as Summit County Commissioner Dan Gibbs and Clear Creek County commissioners to travel to Minnesota last week to observe the hard-shoulder lane system first hand.
“I'm sold on it,” Gibbs said this week after returning to Summit County. “In my opinion, that's a real early-action item. That's something that could happen.”
A 12-foot shoulder is considered ideal to allow emergency vehicles to bypass traffic to respond to accidents.
The hard shoulder lane as it is implemented in Minnesota, however, preserves 3 feet of bypass space, which, Gibbs said, still turns out to be enough.
“Folks do their best to get out of the way as quickly as possible,” Gibbs said. “It might increase the timeframe for emergency services to get to someone by a couple minutes, but it's not a huge gap. It's minimal.”
In Colorado, highway shoulders are also used for snow storage when CDOT is plowing the roads. Kozinski said the shoulder lane wouldn't be operational during heavy winter storms.
Though CDOT director Don Hunt has warned Coloradans to be prepared for tolling to be a part of new highway capacity projects in the future, the transportation department hasn't had any discussions on whether a shoulder lane on I-70 would be tolled, according to Kozinski.
“That's a much larger conversation,” he said. “We really haven't given that any thought at this point in time.”
Congestion-priced tolling is used on hard shoulder lanes in Minnesota, with higher prices during peak hours to encourage drivers to travel during off-peak times.
Courtesy Summit Daily News
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