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Summit County Luxury Market Starts at over $2 Million!

Going, going, gone are the great prices of the 90's, the roaring 2000's and, even yesterday. What used to be luxury is now mainstream today. The average, yes, the average sold price of a home today in Summit County is $1.2m! That used to be a luxury price and now it is just average - the fact is that the luxury market starts at a million or more above that marker.

Check out the video and see for yourself where the market used to be and where it is today. https://youtu.be/dT9ixyEuZ3w.

Home Alone: More Women Buying Homes on Their Own
 
"Skip the spouse, buy the house" was a line from a recent Bloomberg news story about single women buying homes on their own. It's catchy, but also true: as the article reported, single women currently account for approximately 17% of new homebuyers in the U.S., versus 7% of single men.

Despite the wage gaps that remain between men and women in the workforce, many millennial women appear to value home ownership more than their male counterparts and are adjusting their lifestyles accordingly to make it happen.

In the Bloomberg article, Daren Blomquist, senior vice president of ATTOM Data Solutions, noted that single women typically buy at a lower price point ($173,000 compared with $190,600) and have a slightly higher foreclosure rate than men (73 per 10,000 vs. 70 per 10,000). This may be a result of the aforementioned gaps in wages, or possibly because more women raise children on their own than men do - a scenario with major financial implications.

Single women homeowners say there's a sense of independence and a comfort level that comes with owning your space, and that despite the need for often-expensive home maintenance and other costs, home ownership can be personally fulfilling.

For both single men and women, buying a home requires more financial independence than buying with the support of a partner. It's essential not only that prospective buyers have a down payment and months of mortgage payments saved, but also that they're emotionally prepared for the stresses that come with homeownership - and are ready to take them on alone.

Does Your Home's Entrance Say "Welcome"?

Curb
appeal is vital if you want your home to sell quickly for a good price and you don't necessarily have to undertake extensive landscaping or major fixes to the exterior of the building. Instead, you can just concentrate on the entrance to your house and 
do everything you can to lead  guests (and potential buyers) into your home. Define the entrance by emphasizing it, using some of the techniques below.

Accessorize
Make sure all your door hardware (the door knocker, handle and hinges) are new or look new. You can buy matching hardware inexpensively. Alternatively, give what you already have a good polishing. Invest in a new house number and mailbox that complement the rest of your hardware.

The Door
Make sure the door looks bright and fresh. Paint it to match the rest of the trim on your house and keep it clean of dirt.

Steps and Railings
If there are steps up to your home, make sure they are well kept and safe. Check metal railings for rust and make sure they stay firm when visitors hold them.

Plants
Use containers or hanging baskets to mark the way to your home. They are easy to maintain and provide a splash of color. Try placing one container or basket on either side of the door to frame the entrance.

Lighting
Consider adding lights to emphasize the entrance and make it more attractive at night.

Add a Chair
If you have space, place a chair near the entrance. It gives the impression your home provides a relaxing place to sit and rest.

Don't Forget a Welcome Mat
As a finishing touch, put a new mat outside the door.


Wondering How Much Your Summit County Home Is Worth?
 
How has the price of your home changed in today's market? How much are other homes in your neighborhood selling for?

If you're wondering what's happening to prices in your area, or you're thinking about selling your house, I'll be able to help.

Just give my office a call at 800-289-7005 or email me at kelli@kellisells.com for a professional evaluation.

I'll give you the honest facts about your home and its value. And I'll also give you the "inside scoop" on what's happening in the housing market in Breckenridge, Frisco, Silverthorne, Dillon and Keystone.

Remodeling Your Condo: What You Need to Know
 
You're ready to renovate and you're excited to create that perfect space.

But wait. Are you remodeling a condo? If so, this requires some special considerations. The game rules differ from those for a detached home. Here's the playbook. 

Read the regulations: Condos come with associations which come with rules. The association has put certain standards in place to maintain the best possible conditions for your building. Before forging ahead with any plans, read through the regulations of your association and consult with your board or property manager for anything that will need the association's approval.

Consider condo limitations: Your unit may be linked to others, so you may not be able to alter certain aspects of your home: plumbing fixtures might have to stay where they are; you may not be able to remove walls that support the structure or install pot lights in ceilings. Don't let these limits dash your renovation hopes. Just keep them in mind as you plan.

Plan ahead: If your renovations are extensive and the space small, your contractor and workers may require an extra space in which to work. Ask if there is a workshop or outside space they may be able to use.

Paint is your friend: One of the easiest (and cheapest) ways to transform a space is by painting it. However, many condo owners are concerned about personalizing their walls, especially with deep, dark colors. Unless you're renovating for an immediate sale, go ahead and make the space your own. When you are ready to sell, you'll likely need to apply a fresh coat of paint anyway, and you can make it neutral then.

Get out: For your own sanity, stay with a friend or relative during construction, or treat yourself to a hotel.
 
 
Kelli Bennett
 
 
 
 
 
Company
 
Logo alt
August 2 – August 6. The Producers, Backstage Theater.
August 7. Appreciation mixer for First Responders of the Peak 2 Fire, Broken Compass Brewery. 5-7 p.m. $10.
August 11. Inaugural Colorado Classic Bike Race rolls through Breck.
August 11 – August 20. International Festival of the Arts. A 10-day program of extraordinary events in spectacular places. For more information, http://www.breckcreate.org/bifa/.
August 24. Songwriters Circle, Old Masonic Hall. Open to songwriters of all levels. 6-8 p.m.
August 25 - September 4. Billy Elliot, the musical. Riverwalk Center. $15-$35. http://www.gobreck.com/calendar-of-events/#event|billy-elliot|95057.

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Ask the Agent: This Month's Question
Should I get a reverse mortgage?

If you want to increase your income in retirement, a reverse mortgage may sound appealing. But there are pros and cons:

With a reverse mortgage, you're essentially borrowing against the equity you have in your home. You don't make monthly mortgage payments; instead you receive the money from the lender either as a lump sum or in some other form. The amount depends on several factors, including the equity you've built up. The bonus: you still own your home; a reverse mortgage isn't paid back until you move, sell, or die.

The cons? Fees are typically higher than for a conventional mortgage, and they, along with the interest that builds up, reduce the equity in your home. There may be other financial considerations as well. While your retirement may be worry-free, your heirs may be faced with a big mortgage when you die. Is it right for you?  Take time to discuss it with your legal or financial advisor.
This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter. This newsletter is not intended to solicit properties currently for sale.
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