Colorado Dreams

In general Silverthorne and the Wildernest area are where you will get the most for your money in Summit County.  The lowest price for a condo is $121,500; it’s a studio unit in Riverbend Condos. Right now 127 condos and townhomes are currently for sale in Silverthorne including Wildernest (above Silverthorne to the west). Prices go up to $679,000 for a new three bedroom townhome.  I’ve listed a great two bedroom two bath condo in the heart of Silverthorne for $182,000. Here’s more info. Twenty-two are pending and 85 have sold last year. Those prices ranged from $115,000 for a one bedroom Treehouse Condo up to $595,000 for a four bedroom townhome.  You can find a list of the condos in Wildernest and Silverthorne on my web site.  The size of the complex, year built and pictures are there too.  To find out prices you will need to call me or search the mls.  Prices are always changing.

In the last year the market for single family homes and half duplexes has slowed down; what a great buyer’s opportunity with lower interest rates and lots of choices. There are 141 homes and half duplexes for sale in the Silverthorne area. I’ve listed a great three bedroom home near the Blue River for $519,999. The prices on homes range from $288,000 to $3,499,000, twenty-four are pending. Ninety-seven homes have sold in the last year, prices from $242,000 to $2,200,000.

You have many options in building sites in Silverthorne. Prices range from $147,900 for almost 1/3 acre in the Fox Valley at Raven subdivision and go up to $575,000 for over an acre in the

Three Peaks subdivision. If you are looking for larger acreage the lowest price is $499,900 for 20 acres up to $6,300,000 for 156 acres at Slate Creek.  There are small ranches north of Silverthorne “down the Blue” starting at $895,000 for a 4 bedroom home on 40 acres. There is a home on 314 acres up Cataract Creek Road for $2,900,000.

Every week I put together a list of everything for sale – I’ll send it to you if you would like. You can also search the Summit County MLS from my web site.

If you are willing to drive north of Silverthorne about 30 miles to Blue Valley Acres (which is just into Grand County) or 25 miles north to Heeney on the Green Mountain Reservoir you can get a lot more for your money.

Right now there are twelve homes for sale in Blue Valley Acres. The lowest price is a three bedroom home for $199,000 and the highest $429,900. In the last year five homes have sold per the Summit County MLS. The most expensive sold for $365,000.

Vacant lots in Blue Valley Acres are a comparative bargain too. There are eleven lots on the market. The prices range from $38,000 to $189,000. In the last year one lot sold per the Summit County mls, the price was $75,000. You can find out more about Blue Valley Acres on my web site.

In the Heeney/Green Mountain Reservoir area (24 miles north of Silverthorne) there are four homes for sale. I have two listed, a one bedroom cabin on over a third of an acre for $175,000 and a three bedroom two bath near the shore for $365,000. In vacant land there is a acre above the marina for $199,900 and two acres near Cataract Creek for $315,000. Follow this link to property info. In between the north end of the Green Mountain Reservoir and Blue Valley Acres is 9 acres along Highway 9 with a well for $59,900.

This coming weekend (September 18th and 19th) and next (25 & 26) are the dates for the annual Summit County Parade of Homes. This year is the 16th year. It’s a great time to check out some pretty fancy homes while enjoying the scenery.

There are twenty-three homes on the tour. These homes showcase local builders, some will be for sale and many are private residences. Six of the homes are in Silverthorne, one in Frisco and the rest in Breckenridge and Blue River (just south of Breckenridge).

It’s fun to look at the homes to see what the latest trends are. One year I decided it was to have a flat screen TV in every room. Another year I noticed a lot of little mosaic type tiles used in kitchens and baths. What will it be this year?

We have the free magazine with information on all the homes and maps at my office in Silverthorne (at the corner of 5th and hwy 9). There is an admission fee of $10.00 which is good for both weekends, that benefits the Summit Foundation.

Labor Day weekend was perfect in Summit County. Lots of sun and fun.

Here’s my update on the Frisco real estate market. If you didn’t know, Frisco is a historic town in the center of Summit County. Frisco is located on the west side of Lake Dillon. Where Dillon is known for its sail boats and regattas the Frisco end of the lake has lots of islands and quiet coves. Frisco does have its own marina too. Over the years I’ve met a lot of buyers who really wanted to own in Frisco because of the central location and the “cute” Main Street.

There are 109 condos and townhomes on the market. The lowest price for a condo is a two bedroom unit in the Littlehorn complex for $199,000. There are 56 units for sale under 400K. Prices go up to $1,190,000 for a completely remodeled Lagoon Townhome. Nineteen condos and townhomes are pending and in the last year 88 have sold. You can get information about Frisco condos on my web site. You will find a picture of the complex, size and year built. No prices because they are always changing, ask me what’s available or search the MLS.

In single family homes and half duplexes fifty-nine are for sale. The lowest priced home is a small (540 square feet) one bedroom cabin in town that was built in 1954 for $299,900. Otherwise the prices range from $469,000 to $1,995,000. Currently 7 homes are under contract and in the last year 36 single family homes and half duplexes have sold with prices ranging from $350,000 for a 3 bedroom “fixer upper” to $1,900,000 for a four bedroom home built in 2008.

Let me know if you would like more information on any of these properties. Every week I print out a list of everything for sale in Frisco and Summit County, let me know if you would like a copy. To get the latest info, search the mls from my web site.

Check out this charming cabin in Heeney. It was where the school teacher lived when they were building Green Mountain Dam. Built in 1938 it has been updated but retains that “old Colorado” feeling. The cabin has one bedroom and bath, about 600 square feet and is being sold furnished. The price is $175,000. You can find more information on my web site http://www.coloradodreams.com/54blueridge.htm  or give me a call 800-571-1091 and here’s a video too:

This is the lowest priced two bedroom two bath condo in the town of Silverthorne.  It has 805 square feet.  Ground floor unit with patio and door out to the lawn.  The price is $182,000.  Freshly painted and with newer appliances.  Here’s the video

A rare large (835 sq ft) top floor one bedroom condo in Tenderfoot Lodge. Open living, dining and kitchen area with southern exposure and private deck. Great views of the Keystone ski slopes and the Snake River. Walking distance (less than 300 yards) to the Mountain House area with the Argentine and Peru lifts and night skiing. Common areas include elevator, underground heated parking, a wonderful Great Room with fireplace and big screen TV. Outside are two hot tubs and BBQ Deck. Enjoy the benefits of Keystone without the transfer tax when you own at Tenderfoot Lodge. Give me a call to see this great condo in person. 800-571-1091

Tenderfoot Lodge condo on YouTube

Here is a tour of Silverthorne Colorado. The highlight is the rushing Blue River running through town. Fishermen love it, bicyclists and walkers enjoy the path along side the river. I have pictures of the elementary school, forest service building, townhall, Three Peaks neighborhood, and parks. Check it out and give me a call with any questions. 800-571-1091

Fresh vegtables in Dillon

I took this picture today at the Dillon Farmers Market; it happens almost every Friday in the summer from 9 AM to 2 PM in downtown Dillon.  One of the fun things about summer, besides the weather, is all the weekend festivals and activities in Summit County.  This weekend is the first round with Kingdom Days in Breckenridge and BBQ challenge in Frisco.

In Breckenridge there are events all around town, most with a historic theme.  A few of the highlights are Town Party tonight starting at 4 PM, on Saturday and Sunday Gun Fights at 10, noon, and 2 PM at the corner of Main and South Park, all of the historic homes are open.  A tour of private historic homes starts at 1PM on Saturday.  To top it all off there are Outhouse Races on Sunday at 1PM at the corner of Ridge and Lincoln.  You can find out more on the Breckenridge Chamber website.

After getting a dose of history, then head over to Frisco to taste some BBQ.  This is the 17^th year of the BBQ challenge.  Along with food there is plenty of music.  Starting on Friday and you can eat BBQ until Saturday at 6PM.  Music starts at 1PM today and 12:30 PM on Saturday.  Everything is happening right on Main Street Frisco.

I do have a list of events on my web site.

Galore



1. WATER: Is the water via city/community system or a well?

If city/community system, there will be a tap fee, if not already paid, plus other expenses (such as meters, pipes, etc.) Even if the tap fee is already paid you may have a “stand by fee”. You will be charged for your usage.

If water is going to be supplied by a well, a permit will be required to drill. The well water will most likely be for in the house use only, no outside hot tub or watering the lawn. It may be possible to purchase extra water rights to allow for outside usage. The depth of the well will vary from one area to another.

2. SEWER: Is there a community sewer system or will you have to put in a septic?

If there is a sewer system, you will have to pay to hook up, the rate will be determined on the number of bedrooms, baths, hot tubs, etc. With sewer you will be charged for your usage.

If a septic is needed, you will want to make sure the land can handle the system you want for your house. Getting a “perk test” done before you close on the lot is a good idea; it can be one of the contingencies in the purchase agreement. A “perk test” needs to be done before winter and best in the spring; holes are dug to see how the land absorbs the water. This will make sure the lot can handle the number of bedrooms you require in your home.

3. GAS: Many areas do have natural gas supplied through Xcel Energy. There is a tap fee to hook up to natural gas. When natural gas is not available many people elect to use propane gas which is delivered to the home.

4. ELECTRICITY: Is electricity already run to the lot? Even if it is in the street there will be a charge to hook on. If electricity is not in the street then you will have to pay to have it brought into your property. You will want to know that expense.

5. ROAD MAINTENANCE: In many areas the county or the city plows the snow and maintains the roads. Some neighborhoods have their own metro district. Other areas such as Government Small Tracts and Blue Valley Acres #1 do not include maintaining the roads, so you would have to figure on doing or arranging for the snow plowing yourself.

6. ZONING: Make sure what you want to build is allowed. Normally if the zoning allows for a duplex it would be OK to build just one house on the property. Many neighborhoods have protective covenants too, that might limit fences, pets, outside storage etc. There also will be “set backs” which is minimum distance from the lot lines to the structure. You will want to make sure you can live with the rules.

7. SURVEY: It is a good idea to have a survey of the property with the corners staked. The cost of the survey is an item that can be negotiated in the purchase agreement. You will probably need a topographical survey too. Prices for a basic survey start at $500.

8. ARCHITECTURAL CONTROL: Some areas have a committee of other home owners who must approve the plans for your home. The restrictions can include requiring an architect, the total square footage, your building materials, landscaping, outside colors, etc. Some neighborhoods are picky and others are more lenient. You would want to review the architectural guidelines with the title work including covenants when you have the property under contract. If there are no architectural controls you will still have to deal with county or city building regulations.

9. ASSOCIATION DUES: Some neighborhoods have association dues. This is normally a flat fee each month or annually which could cover road maintenance, open space for the neighborhood or perhaps just the annual block party.

10. WETLANDS: The County may require a “wetland delineation” showing wetlands on the lot, besides willows, certain grasses may determine wetlands. You may not be able to build due to Army Corps of Engineer or local rules even though it is a subdivided lot.

11. SOIL CONDITIONS AND TERRAIN: In some areas the County requires a “soils report”, this is used for evaluating foundation designs. Steep terrain will cause your building expenses to be higher.

12. FIRE HAZZARD MIDIGATION: The reasoning is the County doesn’t want a house fire to start a forest fire. Therefore the County has requirements, such as no trees within a certain number of feet from the building, extra thick drywall, sprinkler system, etc. depending on the location.

13. TAXES: In Colorado vacant land is taxed at a higher rate than residential property. Currently the rate is 28% of the assessed value times the mil levy. Residential property is around 9% of the assessed value. What that means is when you build and your property is worth more, the taxes won’t be going up that much more. If you aren’t going to build, the taxes can be expensive.

14. HOUSING IMPACT FEE: As a way to fund affordable housing for local employees, Summit County collects an impact fee for new construction. The fees collected by the County are designated by law to be spent on capital for affordable housing, e.g. land purchases, newly-constructed homes or purchase of existing homes for employee use. A graduated scale is used to determine the amount of the impact fee that is based on square footage measurements between $0 and $2.00 per square foot. It is possible to delay the payment until the home is sold.

15. FINANCING: Finding financing on vacant land is not easy. Your best bet may be a local bank. The interest rate will be higher than for a residential property, and will probably be for a short term with a balloon payment. The theory is you will be paying off that loan when you start your construction. An owner carry may be an option too.

For more information check the Summit County web site at: http://www.co.summit.co.us

Information supplied by Keats Ann Scott, Colorado Dreams Broker 800-571-1091
keats@coloradodreams.com