We had snow yesterday...

By
Real Estate Agent with Century 21 Gold

I woke to the peaks covered in a blanket of the white stuff this morning. A couple of the ski resorts are talking about starting to make snow as early as next week! It's kind of funny because the trees just started to change color and the aspens look like they are on fire. I guess I'll have to break out the skis and start to put away the bikes!

We closed on a duplex yesterday at Copper Mountain. It is a beautiful 5000+ square foot home and the proud new owners are a great couple from Texas. We negotiated a great price for them and she is busy decorating and buying furniture. Congratulations Michael and Dina!

Speaking of properties on the upper end of the market...we have had 10 properties over $2 million sell in the past 6 months and 11 all year. 84 are actively marketed as of this post. When I look at absorption rate, we have over an 8 year inventory! I also looked at the sales price to assessed value and we are currently running a bit lower there as well. The ratio is 79.7% of the assessed value. When I ran the numbers for all properties sold in Summit County, Colorado the number is 88%. All in all, not too bad of a drop from our all time highs.

We have seen an interesting group of buyers this year in the high country. Many of them have cleared out their stock accounts and decided to put it in real estate where they can at least visit their money. Some have taken advantage of the lower prices and ridiculously low interest rates while others who had been priced out of our market are back.

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Rainmaker
364,905
Sharon Lord
Maracay Homes - Peoria, AZ
New Home Advisor

Snow ALREADY...?!?!?  It's still over 100F here in AZ!  Congrats on your closing and enjoy shovelling for the next, oh, 9 months....  ;)

Sharon Lord
Argent Decor
Phoenix Vacation Home Furnishing & Home Staging

Sep 24, 2010 06:03 AM #1
Ambassador
3,102,471
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Isn't this a little early Kevin, even for Colorado. We are basking in the clouds and rain here in Washington state!

Sep 24, 2010 06:03 AM #2
Rainer
18,786
Kevin Smits
Century 21 Gold - Frisco, CO

I guess it is the good and the bad of living at 10,000 ft above sea level. The first year we moved to Colorado it snowed every month...even snow on the Fourth of July! You learn to have a strong back and an attitude that it is all good! I looked back at my calendar from last year and our first snow was on October 1st, so it's about right. The resorts will all open no later than Thanksgiving, but if the nights stay cold, we could see skiing the end of next month. 100? I melt like Frosty at those temps.

Sep 24, 2010 06:14 AM #3
Rainmaker
1,073,964
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!

Hi Kevin, Already?  I'm still getting used to being in the Fall season.  I know it won't be too long and we'll be having the snow as well.  Have a great weekend!

Sep 24, 2010 06:18 AM #4
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Rainer
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Kevin Smits

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