Have you Prepped your Summit County Home for Winter?

Oooh!  It’s that time of year again….the leaves have turned are and are now falling from the trees, the temperatures are falling below freezing at night, and there is talk of snow this weekend.  So – have you prepared your Summit County property for winter? Some items to think about include: It is wise to have your heating system serviced each year.  Whether you have forced air or radiant heat (baseboard or in-floor), you should arrange to have your furnace serviced before the cold really sets in.  Service calls are much cheaper than Emergency Service Calls (which always seem to… Read More

Summit County Market Report through July 2018

Prices have continued to increase in the Summit County residential market.  As you can see in the graph above, the average price for a Single Family home throughout the entire county has gone up 2% since last year and multi-family properties have gone up 8%. Another interesting factor is that only 32% of the buyers in the county are “local” buyers.  The rest are purchasing second homes with the bulk coming from the front range of Colorado and the rest out-of-state. To view the complete report from Land Title Guarantee Company, CLICK HERE.  The complete report breaks down sales by… Read More

Home Prices: The Difference 5 Years Makes

Home Prices: The Difference 5 Years Makes CoreLogic recently released their Home Price Index Report. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared. The graph below was created to show the 5-year change in price from July 2013 to July 2018 by price range. As you can see in the graph, the highest price appreciation occurred in the lowest price range with 48% growth, while the highest priced homes appreciated by… Read More

Are Summit County Homebuyers Starting to Hit the Pause Button?

For the last few years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to the Summit County Average Home Price increasing nearly 39% since 2013. With this being said, three of the four major reports used to measure buyer activity have revealed that purchasing demand may be softening. Here are the four indices, how they measure demand (methodology), what their latest reports said, and a quick synopsis of the report. The Foot Traffic Report by the National Association of Realtors Methodology: Every month SentriLock, LLC provides NAR Research with data on the number of properties… Read More

Don’t Let Fear Stop You From Applying for a Mortgage

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage qualification. For many, the mortgage process can be scary, but it doesn’t have to be! In order to qualify in today’s market, you’ll need to have saved for a down payment (73% of all buyers made a down payment of less than 20%, with many buyers putting down 3% or less), a stable income and good credit history. Throughout the entire home buying process, you will interact with many different professionals,… Read More

Supply & Demand & Bidding Wars

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase. Just like many areas of the country, the supply of homes for sale in the Summit County starter and trade-up home markets is so low that bidding wars have ensued. According to the Summit MLS, 1,345 residential properties listed at $750,000 and under sold at an average of 98.32% of list price, with several of them going above list price due to multiple offers.  649 residential properties listed over $750,000 sold… Read More

Home Purchase & Education Go Hand in Hand

For many families, schools are an essential consideration when searching for a new home. However, most property searches only offer property related criteria such as price, beds, baths, and square feet. As such, locating properties that meet the criteria for your family and your child’s education can be challenging, especially when you are less familiar with an area. For this very reason, this website provides you with the ability to incorporate school ratings directly into your property search as a primary criteria.  Additionally, you’ll have access to detailed information and statistics on local schools and neighborhoods on every listing detail… Read More

How to Track Your Home’s Value

Buying a home is generally the single largest purchase that we make in our lifetimes and most of us are interested in not only the value of our properties, but also the general value of like properties in our neighborhoods. Whether you have just moved into a new home or have lived there for years, tracking the market value of your property is essential for any informed homeowner. This website’s property search provides an excellent platform to track property values and market trends in your area.  In this post, you will learn strategies for tracking the value of your home… Read More

Become an Expert on New Homes Hitting the Market

Knowledge is power and early knowledge can offer you a powerful advantage, especially in tight real estate markets. Those who find properties first gain an edge by being the first have a chance to see new properties and thus the first to make offers. More often than not, this first to market knowledge pays off. This post will review how you can leverage the property search on this website to quickly access the newest properties on the market and how to setup email alerts when new properties match your criteria. It’s important to first point out that this website offers… Read More