Get Your Summer Dream Home Now

Get Your Summer Dream Home Now. In case you missed this weeks’ edition of Barron’s, the cover story written by Karen Hube is germane to Steamboat Springs and all of Colorado’s resort markets. The gist of the article is this: • The luxury resort market has taken a hit, as much as 20-30%. • The luxury summer-home market has held up better than the total market for luxury homes. • The time is now to start shopping…waiting for a bottom is dangerous in that the top-tier market is apt to snap back quickly. • There is much pent-up demand for high-end real estate and that will drive the market as confidence returns. • Sales in the upper level of the the second-home market tend to be less cyclical that the rest of the real estate market because high end real estate is viewed as an investment asset class. • Most sales and price reductions are not a function of forclosure but a desire of the seller to free up capital for other purposes or belt tightening. • In the Rocky Mountains, prices of luxury resort homes have dropped about 15%, not as dramatic as either coast. • As cash or mortgages come into play for purchasing these properties, interest rates as low as 6.3% on a 30 year fixed jumbo loan can allow a buyer greater liquidity for other opportunites. • Regardless of how the home is purchases, value is the driving force…price per square foot matters. • While sellers are escaping from their summer homes, buyers are discovering the opportunity of a lifetime! If you want to read the entire article follow the URL…don’t wait to read it, or to buy your summer dream home in Steamboat Springs in Rocky Mountains of Colorado! Get Your Summer Dream Home Now In case you missed this weeks’ edition of Barron’s, the cover story written by Karen Hube is germane to Steamboat Springs and all of Colorado’s resort markets. The gist of the article is this: • The luxury resort market has taken a hit, as much as 20-30%. • The luxury summer-home market has held up better than the total market for luxury homes. • The time is now to start shopping…waiting for a bottom is dangerous in that the top-tier market is apt to snap back quickly. • There is much pent-up demand for high-end real estate and that will drive the market as confidence returns. • Sales in the upper level of the the second-home market tend to be less cyclical that the rest of the real estate market because high end real estate is viewed as an investment asset class. • Most sales and price reductions are not a function of forclosure but a desire of the seller to free up capital for other purposes or belt tightening. • In the Rocky Mountains, prices of luxury resort homes have dropped about 15%, not as dramatic as either coast. • As cash or mortgages come into play for purchasing these properties, interest rates as low as 6.3% on a 30 year fixed jumbo loan can allow a buyer greater liquidity for other opportunites. • Regardless of how the home is purchases, value is the driving force…price per square foot matters. • While sellers are escaping from their summer homes, buyers are discovering the opportunity of a lifetime! If you want to read the entire article follow the URL…don’t wait to read it, or to buy your summer dream home in Steamboat Springs in Rocky Mountains of Colorado! http://online.barrons.com/article/SB124303118257848425.html Anne Mayberry 970-846-1425 Broker Associate, The Vanatta Team anne@steamboatestates.com www.steamboatestates.com/annemayberry