vacation home: Second home owners could be affected negatively by the new Debt Relief Act - 10/13/07 10:04 PM
On Friday the House passed the Mortgage Forgiveness Debt Relief Act by an overwhelming majority. The goal of the bill is to help people who sell their homes in a short sale. A short sale occurs when the house is sold for less than what is owed on the mortgage and the balance due is forgiven … (30 comments)
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vacation home: 9 questions to ask when choosing your vacation home manager - 09/13/07 12:58 AM
When you want to put your Colorado vacation home on a rental program, how do you know which management company you should hire to take care of it for you? You have many options, from renting it yourself using the internet with some local assistance, to being very hands off and doing no … (33 comments)
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vacation home: Tax court rules against 1031 exchange treatment for some vacation homes - 06/01/07 10:49 PM
On Wednesday, May 30, 2007, the US Tax Court handed down a ruling on the appeal by a Georgia couple to allow the sale of their vacation home to qualify for treatment under the rules of IRS Section 1031, Tax Deferred Exchange. The court found that "the holding of any residence, even if motivated … (17 comments)
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vacation home: What makes a house a vacation home? - 05/24/07 11:51 PM
In Summit County Colorado, most of our homes are vacation homes. The ideal vacation home has a big garage, but not because you have lots of cars parked in it. You need a place to store your skis, your snowmobile, the bikes and your raft. Oh yeah, and the canoe and the … (2 comments)
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vacation home: 7 easy ideas to make more money from your vacation home rental - 05/24/07 12:06 AM
Here they are in a nutshell.
1. Use "book by owner" websites like www.vrbo.com and www.homeaway.com. They are cheap and easy to use.
2. Use a flat fee management company (hard to find, but they are out there.)
3. Put a calendar and the rates on your websites.
4. Use the guestbook that is available … (7 comments)
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vacation home: New carpet can make a difference! - 05/03/07 11:05 PM
But why is it that they all want to "wait and see"? In Summit County, Colorado, home to several ski resorts, we have lots of ski condos and vacation homes. Many of them were built in the 1970s and 80s and there are a lot that have just had personal use … (8 comments)
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vacation home: Vacation home sales up nationwide - 05/02/07 11:48 PM
The National Association of Realtors lumps investment homes and vacation homes together into one category called second homes. The latest report shows that second home sales in 2006 were only 36% of all residential sales compared to 40% of all sales in 2005. However, when the category is broken down, one can see … (0 comments)
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vacation home: What goes down must come up? Or is it the other way around... - 04/24/07 10:53 PM
Our market is hot! Almost everyone on AR these days writes about what to do in slow markets. Well, I was doing those things about three years ago when the rest of you were so busy you didn't have time to spend all the money you were making! Today the tables are turned … (6 comments)
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vacation home: Easy referrals you are probably missing - 04/20/07 10:55 PM
Have you ever asked one of your clients if they have thought about buying a second home? Not just a rental property, but a vacation home at the beach or mountains. If your clients are baby boomers and they live in a nice house, chances are they already have a second home or they … (10 comments)
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vacation home: Tips to make a vacation home pay for itself. - 04/19/07 11:36 PM
I own a condo at Copper Mountain, Colorado. It is just a little one bedroom condo and I try to rent the heck out of it. It is about 8 miles from my primary home, so I don't use it myself. I have four major ski areas within 20 minutes of … (3 comments)
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vacation home: Where is the hottest spot for second homes? - 04/18/07 12:26 AM
In Summit County, it is Breckenridge. Although if Frisco had more residential units it might be a close second. The average sale is priced 16% higher than it was this time last year, but we have 15% less sales. It is the old law of supply and demand. We only have … (1 comments)
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vacation home: No blog entries.....why not? - 04/18/07 12:03 AM
My other blog is my main blog, where I post several times a week. There I write about everything to do with Summit County real estate. I live in the mountains of Colorado, surrounded by ski resorts in the winter and wildflowers in the summer. Oh yeah, and a few tourists here and there.
My … (9 comments)
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