August 1 and 2, Keystone Resort brings the wonders of Appalachia to the Rockies with the 13th Annual Bluegrass and Beer Festival. Based in the River Run Village at the bottom of Keystone ski mountain, down-home cooking, barley pop, and mountain-music are beautifully blended together with the crisp mountain air. Folks gather for live music on three stages while 30 microbreweries from Colorado and beyond showcase their unique beers, ales, lagers and stouts. There will be plenty of entertainment for the kids and adults with kids activities, gondola rides, mountain biking and much more.
Keystone resort, Breckenridge, Frisco, Dillon and Silverthorne are all high on the list of summer and winter weekend destinations for residents of Denver and the rest of the Front Range. But some people avoid Summit County on the weekends because of the frequent traffic jams on Interstate 70 heading up to the Eisenhower Tunnel. These jams continue off and on the entire length of the Interstate 70 corridor through Georgetown and Idaho Springs. Sunday, the 5th of July, saw the 5th heaviest traffic count in the tunnel’s history.
“Several years ago I stopped traveling to Keystone and Breckenridge on the weekends,” says Brett Sawyer, Managing Broker for Re/Max Properties of the Summit located in River Run Village at Keystone resort. “I hated the traffic jams going up, and hated the traffic jams coming home. It made the ‘relaxation of the weekend’ not very relaxing.” But Mr. Sawyer figured out the solution. “I realized that there was very little traffic on Friday afternoons and evenings; and very little traffic on Monday mornings. I realized that instead of a 3, 4 or 5-hour drive back to Denver on Sunday evening, I could head out early Monday morning and be at work in an hour or so.”
The solution? Owning a second home in the mountains where one can spend the nights without hassling with a hotel room. Get up a bit early Monday morning, shower and head over the hill to work.
Mr. Sawyer went on to say that with the current buyers’ market in Summit County real estate, now is one of the best times in recent years to buy a second home in the mountains. “Most people will buy a condo in Dillon or Keystone or Breckenridge and use it from a few times a year to weeks on end. While many buyers lease their condos on a short-term basis during the ski season to generate revenue, others never lease their properties and instead use it themselves and treat friends, family and work colleagues to a mini-vacation at their second home.”
“Another benefit to having a second home in Summit County,” continues Mr. Sawyer, “is catching the best powder during the ski season. There were several times the past couple of winters when Loveland Pass, the Eisenhower Tunnel, and Vail Pass were all closed due to weather and road conditions. The weather was from it snowing like crazy up here. No one could make it up from Denver and the Front Range so only the people that were already in the mountains got to float those fluffy dumps.”
To learn more about real estate - and how to best negotiate the purchase and ownership of second home real estate in the Colorado mountains - contact Re/Max Properties of the Summit in Keystone at (970) 513-0404.
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Real estate transaction numbers in Keystone Colorado and the neighboring areas of Breckenridge, Silverthorne, Dillon and Frisco have been running about 1/3 of where they were last year. A big part of it has to do with financing your second home mountain real estate. Not too long ago the sad - and accurate - saying in the mortgage business was, “The only thing harder to get than a jumbo loan is a jumbo loan on a second home.” Alas, it was true - but that has changed, and changed dramatically.
Jumbo loans are those mortgages for higher-priced real estate - between $417,000 and around $730,000; values that exceed the limits set for government-controlled mortgage companies. For a variety of reasons the issuance of those loans, and the purchase of those loans, came to a screeching halt in the aftermath of the Sub-Prime mortgage fallout. To put it into perspective, Jumbo loan transactions in 2007 totaled $348 billon; while in 2008 the total dropped dramatically to $98 billon.
Of course this situation led to a softening of the mountain resort real estate market. Many of our properties in Keystone, Dillon, Frisco, Silverthorne and Breckenridge fall within that price range.
But just like many other aspects of the economy, the Jumbo mortage market is regaining its health, which makes buying a second home in Summit County far more accessible and convenient. Late last month JP Morgan Chase & Co., along with CitiGroup, Inc. announced that they are back in the Jumbo mortgage business. JPMorgan resumed buying new jumbo loans made by other lenders in June, after halting purchases in March.
“What we have seen in the market is that while there are great real estate purchase opportunities in the mountain resort markets, the general public still believes that mortgages are impossible to obtain,” says Brett Sawyer, Managing Broker for Re/Max Properties of the Summit in Keystone. “We have local and national lending resources that can provide very competitive loan packages - rates, down payments, amortization schedules - to appropriately-qualified buyers,” continues Mr Sawyer. “Keystone and the surrounding mountain resort communities are experiencing one of the most favorable buyer’s markets in a decade, and those that are taking advantage of it now are the ones that will enjoy the best selection of properties before the market roars back.”
To learn more about real estate opportunities in Keystone, Dillon, Frisco, Silverthorne and Breckenridge - and to gain a better education on the realities of jumbo mortages on second homes - contact Re/Max Properties of the Summit in the River Run Village of Keystone at (970) 513-0404.
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Tennis Townhouse Condominiums at Keystone Resort is undergoing a $3.5 million renovation that includes improvements of the homes, pool and pool house. According to reports in the Denver Post and other media sources, Travis Construction of Silverthorne is managing the project, which is slated for completion in October.
Originally designed in the mid-1970s, Tennis Townhouses were built to blend with the natural setting of Keystone Resort. In an effort to preserve the basic elements and character of the complex, homeowners opted for a restoration of the original design.
With the addition of structural insulating panels in the roofs, rigid insulation in the walls and new aluminum-frame windows with double- and triple-pane glass, energy efficiency will significantly improve in all of the townhouses.
To learn more about real estate purchase opportunities in Keystone, River Run Village, Dillon, Silverthorne and the rest of Summit County, contact Re/Max Properties of the Summit’s Keystone office at 135 Dercum Drive, U6 or by phone at (970) 513-0404.
Keystone CO real estate company Re/Max Properties of the Summit located in River Run Village at the base of Keystone Mountain hosted participants of the first MotoMarathon event in June. Sponsored in part by Metzger Associates, Ducati Motorcycles, and Boulder Motor Sports, riders from around the US, and Canada, were treated to the great restaurants of Keystone after enjoying the twisty roads of the Colorado Rocky Mountains.
Keystone Re/Max Real Estate Office Hosts Motomarathon
Primarily astride Ducati and BMW motorcycles, the four-day event included two social events on the deck of Re/Max Properties of the Summit’s office located in Expedition Station. Brett Sawyer, MotoMarathon participant and Managing Broker of the real estate office, used the event to inaugurate the summer real estate selling season in Keystone, Dillon, Frisco and Silverthorne.
Ducati North America Sponsors MotoMarathon at Keystone Resort
The final week of June brought more European motor enthusiasts to Keystone and River Run Village with the Porsche Parade event organized by the Porsche Club of America. Several hundred beautiful Porsches were trucked in, or driven in, for the event that included road tours, a concourse d’ elegance, and auto-cross competition. The variety of gorgeous vehicle ranged from beautifully restored 1959 models, to purpose-built race cars, to the new Cayman. Wonderful eye candy for car lovers!
Porsche Race Cars at Keystone Colorado Golf Resort
And coming to Keystone Resort and River Run in August is the American Motorcyclist Associations’ (AMA) 5th “International Women in Motorcycling” conference. Sponsors include Ducati, Buell motorcycles and Harley-Davidson. We look forward to the August 19th kick-off of this 4-day event.
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Keystone Colorado’s gondola is now open for the season. Come ride the panoramic enclosed lift up to the mountain top to enjoy incredible views of Keystone, and the Dillon valley; mountain bike; hike; picnic; or go snow tubing.
That’s right - for the first time ever Keystone Colorado mountain resort is offering summer snow tubing on top of the mountain. Visitors to Keystone Resort can slide down the tubing hill on the snow with two lanes of snow. The tubing adventure is open Wednesday through Sunday from 10 to 2:30 p.m.—while the snow lasts. Tubing sessions last for one hour and guests can take an unlimited number of runs for $25 per person. Tickets are available at the ticket window in River Run Village, and the price includes a gondola ride to the top of the mountain. Visitors to Keystone Resort are encouraged to play on the snow and then participate in the numerous summer activities Keystone offers.
While in Keystone visit Re/Max Properties of the Summit in Expedition Station at River Run Village to learn how you can own a part of the Colorado mountains – for both summer and winter adventures and activities. Re/Max Properties of the Summit is located at 135 Dercum Drive right next to the Keystone playground; or you can call us at (970) 513-0404.
Keystone Colorado real estate company Re/Max Properties of the Summit, located in River Run Village, welcomes Brett Sawyer as its new Managing Broker. With a wealth and diversity of experience in international resort and luxury real estate marketing, sales, and development, Brett is fortunate to have amassed an eclectic set of skills and knowledge that position him as a valuable resource for buyers and sellers of real estate – not only in Keystone, Dillon and Silverthorne, but also in other mountain resorts; downtown Denver; and internationally.
As a REALTOR® Brett is an active member of several valuable professional organizations, including: the Summit Association of Realtors; the Denver Board of Realtors; Colorado Association of Realtors; National Association of Realtors; and Who’s Who in Luxury Real Estate. Through these professional associations, Brett is able to leverage his resources and relationships to help his clients achieve their diverse real estate goals.
It was in the 1980’s that Brett started buying and selling his personal and investment properties and quickly saw the strengths of real estate, while also learning of the potential pitfalls of ownership. Significant to his ability to represent real estate clients in Keystone, Dillon and Silverthorne for Re/Max Properties of the Summit is his local and international real estate background.
Prior to taking the role of Managing Broker and Team Leader for the Keystone office in River Run Village, Brett held the position of International Director of Sales for a group of luxury resort developments in Mexico. As a result he is well-versed in the values, challenges, and logistics of successfully negotiating the purchase, maintenance, and sale of properties in Mexico and other foreign countries; and can assist clients with foreign real estate acquisition every step of the way.
Before venturing off to Mexico, Brett was a member of the highly successful marketing and sales team representing East West Partners in their development of Riverfront Park in downtown Denver. Among other great events in his career at Riverfront Park was meeting Don Angell, the owner of Re/Max Properties of the Summit. Don and his wife bought a property from Brett, and their relationship eventually led to Don recruiting Brett to the position he now enjoys in Keystone CO. Brett’s great passion for “new urban development” has inspired him to keep his “finger on the pulse” of the downtown Denver market, where he also owns property.
A rare Colorado native, Brett has spent his life exploring the mountains and venturing to foreign shores. As an avid adventurer, on his days off you will likely find Brett riding one of his coveted Ducati or KTM motorcycles, teaching alpine skiing for Vail Resorts, hiking, or mountain biking; and at the end of the day debating whether to open the Pinot Noir or the single-malt Highland Scotch.
Brett recognizes that the old adage of “I don’t care how much you know until I know how much you care” is valid and strong. Brett cannot show you how much he cares – or how much he knows – until you contact him to talk about your wants, needs, and questions regarding real estate. Brett looks forward to meeting you, and perhaps – as have many of his clients – start what will become years of personal and professional friendship.
To learn more about real estate opportunities in Keystone, Dillon and Silverthorne Colorado contact Re/Max Properties of the Summit at Keystone in River Run Village at (970) 513-0404.
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Feb 18, 2009
Waiting for the Market to “Bottom Out”?
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Trying to TIME the Keystone Real Estate market…?
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“Is it Better to Wait to Buy Keystone Real Estate …or BUY NOW?
With the beginning of a new year and the inauguration of a new president, market activity in Keystone real estate and Summit County real estate has increased dramatically! There is renewed hope in our economy and the prospects for ALL real estate (especially KEYSTONE RESORT real estate!) to once again be a solid and wise investment. However, with all the renewed interest and activity to purchase Keystone Resort real estate, I am continually hearing from prospective buyers that “we think prices for Keystone Resort real estate are going to come down in the future so I’m going to wait until they do - and buy at the bottom of the market”! The interesting thing about that statement is that the only way one really knows where the bottom of the Keystone Resort real estate market is, is AFTER IT GOES UP!! It’s like some people trying to play the “interest rate game”. In other words, there are always those “bargain seekers” who want to wait for interest rates to go down “another 1/4%” (or even another 1/8%)…even when interest rates are already great - currently just over 5%!! The problem is they try to “time it” so right that they MISS OUT! Instead of going down, the interest rate goes up and they’ve missed “the bottom”!
Sometimes one needs to realize how GOOD CURRENT PRICING REALLY IS! Here in Summit County, the market has remained relatively stable after the “Wall Street meltdown” (there have been over 100 properties sold in the past 60 days!) and, compared to other ski resorts, real estate in Keystone and Summit County is ALREADY AFFORDABLE - because we have not yet reached build-out! However, since prices had gone up so much in 2006 and 2007 (due to EXTREMELY low inventory levels at that time - 2-3%!), sales prices had already “adjusted” earlier in 2008 by approx 5-10% - compared to 2006 and 2007! Therefore, there are some VERY GOOD opportunities to purchase PRIME resort real estate CURRENTLY - AT ALREADY LOW PRICES! Could pricing go down further? Sure! However, although we did enjoy inventory levels of 3-4% in 2006 and 2007 - that’s why we had 30% appreciation during those years - consider the fact that right now the inventory levels are only about 8% in Keystone and Summit County. Normally a 10-15% inventory level is considered a ‘normal market’. Therefore, we currently have a VERY healthy market and unless inventory levels go up over 20% (2.5 times current levels!), there is no reason to think that prices will go down that much further…than they already have! In 2002 - after the tech stock market bottom fell out AND 9/11 occurred, we had inventory levels swell over 30%! Even with that, prices only fell about 5-10%…and we’ve already experienced that at present! Why would they go down even further? Remember, we are a secondary resort market and most of our owners are professionals, executives and successful business owners who don’t need to sell - for the most part, they WANT TO SELL…when the time is right! With NO PRESSURE from large inventories, there’s NO REASON TO LOWER PRICES! Therefore, if you’ve even been considering a resort real estate purchase, you may want to stop procrastinating and TAKE ACTION NOW! Also, with loan rates hovering around 5%, how long can they remain there? If one needs a loan, money IS available…one just needs to qualify for it - as it should have been before…then the nation wouldn’t have been in this “financial mess”! Could inventory levels go up further and prices go down? Sure! But - WHY WAIT and find out that inventory didn’t go up and prices didn’t go down? Just like with the “interest rate game”, you may find out that your timing was off and you “missed the bottom”!!If one can find a property that fit your parameters, if the price is “pre-2008″ (5-10% off of peak prices in 2007) and if one can get (and qualify for!) an extremely low rate loan, then my question would be: WHY NOT? Remember the words of Warren Buffet - ”If you wait for the robins, spring will be over”!! As I mentioned in a previous newsletter, Warren Buffett, probably one of the most successful investors of our time, recently said: “Be fearful when others are greedy and be greedy when others are fearful. What is likely is that the market will move higher, perhaps substantially, well before either sentiment or the economy turns up. So, if you wait for the robins, spring will be over. In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.” His words definitely apply to Keystone and Summit County real estate - there is really “no better time to buy than NOW”! |
Keystone Resort will consecrate its new state-of-the-art River Run Gondola and open for the ski season on November 7, 2008. The Gondola Ribbon Cutting will take place at 8:30 a.m. and the mountain opens for skiing at 9 a.m., exciting ways to start a vacation for family and friends staying in Keystone Colorado real estate. The bottom terminal of the new 8-passenger River Run Gondola moved into Keystone’s River Run Village, close to our offices in Expedition Station Keystone real estate.
A wide selection of nearby properties in Keystone’s River Run includes condominiums in Red Hawk, The Springs, Arapahoe Lodge, Black Bear Lodge, Jack Pine Lodge, Dakota Lodge, Silvermill, Expedition Station, Buffalo Lodge, Lone Eagle, Riverbank Lodge and Timbers Condominiums. Vacation real estate in Keystone ’s River Run neighborhood is very accessible to excellent restaurants, clubs, ski services, and shops as well as three world-class mountains for fabulous skiing, and biking and hiking trails.
Located in the White River National Forest just an hour from Denver, Keystone CO real estate nestles next to three magnificent mountain playgrounds—Dercum Mountain, North Peak, and The Outback. Keystone Resort offers over 3,000 acres and 3,000 vertical feet of bowls, bumps, glades, steeps and groomers, including the A51 Terrain Park that has been ranked #4 in the nation by Transworld Snowboarding Magazine.
The resort features the largest night-skiing operation in the state and features 121 trails, 20 lifts including 2 gondolas, 1 express six-pack and 5 high-speed quads, tree skiing, the A51 Terrain Park, Alpine bowl skiing—something for everyone in the family to enjoy. A new mid-station is located halfway up Dercum Mountain with loading and unloading in both directions, giving skiers and snowboarders an option to access upper trails from mid-mountain and to download at the end of their ski day. Guided snow cat tours provide skiing and hiking access to 278 acres of new expert terrain in Independence Bowl and access to Erickson and Bergman bowls.
The Epic Season Pass offers unlimited and unrestricted access to several resorts for only $579 until November 15. For the guaranteed lowest price on lift tickets and online purchase comes with enrollment in PEAKS Rewards that accumulates points for tickets, ski school and dining purchases that can be redeemed for free lift tickets and ski school. New RF technology scans right through ski jackets and keeps track of everything.
The excellent Ski & Ride School helps skiers and riders to gain confidence and reach towards their potential. The time spent with an instructor can have a powerful impact on the mountain and resort experience.
The resort is cautiously optimistic and looks forward to similar near-record breaking snowfall and attendance numbers as last year. We invite you to explore Keystone with us. Contact Re/Max Properties of the Summit at Keystone at (866) 513-0404 or (970) 513-0404 for real estate advice in the resort.
Oct 31, 2008
The Sanctuary at Keystone Real Estate
Perched high in the aspen groves north of Keystone Colorado real estate and ski villages, the lush new development at The Sanctuary at Keystone beckons the adventurer to refined but casual mountain living. This exclusive Keystone CO real estate descends right to the foot of the Keystone Ski Resort slopes—on skis or via shuttle—where the new River Run Gondola reaches the top of vast outback bowls. (The Walsh Group Keystone real-estate offices are located in Expedition Station at River Run Village.)
The 31 luxury homes overlooking Keystone are bounded by the natural wetlands of the Snake River and the White River National Forest. Most of these Keystone CO homes boast creek-side home sites, right across the mountain from illuminated night views of the ski slopes.
Buyers are happy to see the price per square foot is in the $400s—very affordable for a luxurious Summit County vacation homes. The Sanctuary at Keystone includes duplexes, triplexes and single-family residences on the protected 15-acre site. One 2,300-square-foot unit is selling for $999,000, another 4,635 square-foot home for $2,299,000.
The Sanctuary at Keystone exteriors reflect the Rocky Mountain environs with their rough-hewn timbers and clinking, dry stacked stone, and custom wood doors with heavy bronze hardware. The open floor plans underscore the immensity of the mountain majesty with their large private decks and oversized glass doors that open to the unrestricted marvel of the outdoors. Residents are surrounded with fine artisanship including hand-set natural stone, raised hearth stone fireplace with timber mantels, and hand-hewn rustic wood floors. Of course, each home features the highest quality appliances, granite slab countertops, radiant in-floor heating, attached heated garage, knotty alder cabinetry and much more.
About five minutes away is the links-style golf challenge at The Ranch Golf Course. Designed by Robert Trent Jones, the 4-star golf course is also a certified Audubon Cooperative Sanctuary and ranks in The Golf Digest Places to Play. Besides top-notch shopping and renowned restaurants, the resort offers opportunities for hiking, mountain biking, cross-country skiing, ice skating, paddle boating, canoeing, sailing, tennis, white-water rafting, snow shoeing and a long list of festivals and events.
Convenient to Denver, Denver International Airport, and city amenities along the Front Range, The Sanctuary is located a little over an hour west on Interstate 70. Take Highway 6 east past the Convention Center. After passing the traffic signal at the fire station, turn left on Caravelle.
Contact Re/Max Properties of the Summit at our Keystone office in River Run (866) 513-0404 or (970) 513-0404 for assistance.
Oct 24, 2008
Keystone CO Homes Win Big at Parade of Homes
Congratulations to all the builders, designers, and owners of the spectacular 2008 homes in Keystone and Summit County’s Parade of Homes. However, the fabulous Keystone CO real estate home on Wolf Rock really got the attention of this year’s attendees! Ingenious craftsmanship by architects, designers, and artisans—accented with state-of-the-art technology—went into this breathtaking Keystone real estate property.
The fine example of premier mountain living in Keystone Colorado real estate make us proud that The Walsh Group of RE/MAX Properties of the Summit (located in Expedition Station in Keystone’s River Run Village) is able to boast that this winning Parade of Homes property is OUR listing!
This log-and-rock Keystone CO home at 35 Wolf Rock Road “took the cake” at the awards ceremony. Overlooking the Snake River and nestled in the quiet neighborhood of Settlers Creek, this custom home is a collaboration between the owner, Baker + Hogan + Houx, Metzler Stephens, Edgewood Log Structures, and Colorado Design Concepts. This exclusive property boasts a remarkable “glass forest” design in the great room which magically transports the setting along the river and forest to make it feel that it’s actually inside the home!
With a striking moss rock fireplace, marvelous gourmet kitchen, impressive study, and stunning powder bath, this mountain estate is a dream home. Other awesome features include a log stairway, hand-forged railing and copper-barrel ceiling, timber trusses, handcrafted entry door and interior doors, hand-textured and glazed walls and ceilings, hand-crafted cabinets, Venetian plaster finish with aspen leaf detail, and more.
The lower level features heated, stamped and stained concrete floors that extent through a unique folding-door system to the outside. A very inviting bunk room, two guest rooms, a spa bath and steam shower, a recreation room with wet bar and wine storage, and a third laundry room offer privacy and amenities for guests and residents alike.
An extraordinary sunken theater decorated with a fiber optic starry sky, flickering lanterns, logs with bark, and custom mural work is one of many conversation pieces that speak to the mountain ambience. The master suite upstairs is a real retreat with its own fireplace, impressive five-piece bathroom, closets, and laundry room.
All of the Parade of Homes are expressions of Colorado Rocky Mountain vacation real estate at its best: relaxing, grand, playful, woodsy, elegant, green, and serene. Call RE/MAX Properties of the Summit at Keystone in the River Run Village at (866) 513-0404 or (970) 513-0404 for expert real estate services in the ski resort towns and communities.
Oct 17, 2008
Keystone Colorado Sustainable Real Estate
Green, conserve, sustainable, and energy efficient are buzz words around Keystone Colorado real estate in Summit County Colorado these days. Because an increasing number of people are familiar with green building methods and environmentally friendly materials, more Summit County and Keystone CO real estate is being developed or re-developed using various kinds of “green” standards.
Maybe not all new Keystone real estate will be ENERGY STAR-certified or will win the award as best example of Green Building. Judging by the fact that the four of the beautiful new luxury homes in the 2008 Summit County Parade of Homes are ENERGY STAR certified, however, we can expect that “sustainable” is becoming more of a goal in the Rocky Mountains than ever before.
These Summit County Parade homes are examples of what the aspects of building green homes in Keystone, Breckenridge, Silverthorne, Dillon, Frisco, and Copper Mountain from scratch: 82 Victory Lane built by Kodiak Enterprises, 1184 Discovery Hill Drive built by Apex Mountain Homes, 240 Elk Circle built by Hedges Mountain Homes, and 561 Elk Circle built by McCrery Fine Homes. Additionally, one couple decided to modernize and overhaul older Frisco CO real estate in a great location to add space and green features to their home.
Benefiting the Summit Foundation, the Summit County Builders Association presents the annual Parade of Homes each year during September. This year’s Parade showcased 27 spectacular single-family homes, a literally cache of mountain-home designs, finishes, and creative details.
Several communities are working on implementing their own versions of a Sustainable Building Ordinance. In fact, Colorado is on the leading edge of the nation’s green movement. One reason for that is the extensive amount of pristine national forests, open space, parklands, trails, and outdoor recreational activities. Another reason is that Coloradoans are conscious of healthy lifestyles and preserving the ecosystem.
The High Country Conservation Center is doing all it can to encourage higher green standard and awarded the home at 82 Victory Lane as best example of Green Building this year. Along with the Governor’s Office, they also awarded Kodiak Enterprises an ENERGY STAR award. ENERGY STAR homes undergo several extra vigorous inspections during construction and are more efficient. They have increased insulation, high-quality windows, a tightly sealed building envelope, and energy efficient appliances and fixtures.
Call Re/Max Properties of the Summit at Keystone in the River Run Village at (866) 513-0404 or (970) 513-0404 for expert real estate services in the resort towns and communities.
