Email Tom  |  Phone: 970.389.6123 |  Toll-Free/ Fax: 877.799.1910  |  605 Main Street, Frisco, Colorado | Vol VI Issue III
ROCKY MOUNTAIN DREAM HOME | MLS | NEIGHBORHOODS | RETIRE ROCKY MOUNTAIN STYLE
About Tom | Economics | Market Conditions | MREI Excerpts | Case Studies | New Developments | Upcoming Events
Demographics | Local Event Schedule | International Snow Sculpturing Championships | Local Links | Local Real Estate Statistics
Mortgage Q & A | Past Issues of The Altitude News | Real Estate News | Testimonials
ABOUT TOM
ECONOMICS
MARKET CONDITIONS

GO BIG ...
or go home. For Tom there is only one way to do things. Whether it's an outdoor adventure in the scenic Breckenridge area or helping his real estate clients achieve their buying and selling dreams Tom is a professional that knows how to make the most of every opportunity

When you work with Tom you can count on him giving his all, every step of the way. Tom wants you to dream big and set your sights high. If you are looking to seize your real estate opportunities call Tom today.

Panic continues in the housing industry. Now it’s the collapse of the mortgage industry. The latest Mythunderstanding is; The media wants you to believe you can’t get loans anymore to buy real estate with. The truth is; for qualified buyers the availability of loans hasn’t changed and the interest rates are the same as last year. Jumbo loans are a little higher and zero down, stated income loans are not around anymore but for those with good credit and money to put down now is the time to buy. Now is the cycle when the investor makes money, not during a feeding frenzy like we saw a few years back. Prices nearly doubled in many areas of the country in less than ten years. Not long ago you could buy a house, get a zero down loan and put it right back on the market for a nice profit. Appreciation was 2%/month in some places or $4000 on a $200,000 house. Three months and you have made an excellent profit for doing nothing. Not sustainable though and we are feeling the effects.

Now prices have dropped 5-15% in most areas of the country. Some more than others, it really has to be looked at on a local basis. So what does the housing crunch mean for the mountains of Colorado? Well our economics are different here. Our real estate market is driven by the baby boomer generation who is vacationing more than ever, buying second homes more than ever and planning for retirement and wants to do it in places like this. Consequently we have seen tremendous appreciation the last two years while the rest of the country has been in the doldrums. Is it sustainable? We shall see and I will discuss that further in the next installment.

Steamboat is taking off! Intrawest purchased the ski area about a year ago and is pumping $16 million in to the mountain. The attention has brought a flood of other developers hoping to cash in. In all over $600 million in private developments are planned for the next five years. Overall 4,000 new beds will be added to the rental pool as well as, among others, a 700-acre development west of town will have 2,000 new residential units. All this in a remote town six hours from an International Airport, serviced mainly by a small regional airport and barely attracting a million skiers a year.

So this must be the time to jump in and get those great preconstruction deals, right? Wrong. Intrawest has a track record of building too much too fast, creating frenzy and then leaving investors holding the bag. I first witnessed it with Keystone where people in the late ‘90’s lined up to buy pre-construction like it was a .com IPO. Prices dropped, and it took until last year, nearly ten years later, for prices to pass their pre-construction level. The same thing happened in Copper Mountain and I read it has been even worse in Mammoth Mountain, CA. Steamboat, in my opinion, is a decade away or more from being able to support this kind of growth. On the other hand, Summit County is easily accessible to millions of Coloradans and the rest of the world via DIA. We are nearly at build out meaning that a property you purchase today will not be overwhelmed by massive quantities of new construction. Your property will continue to grow in demand for buyers and renters, not caught in a glut of over supply. Call me now and I will be happy to show you all the reasons Summit County is the most solid resort real estate purchase in the world.

 The next phase of The Peaks at Breckenridge should be out about the end of this year or early '08. More info at: http://www.rockymountaindreamhome.com/peak7_8_new.html   Forget Vail and Aspen , where $1.5 million buys you a tiny condo, come to Breckenridge and find a luxury home nestled in a friendly town with the most consistent snow on earth. This is becoming THE place to retire for those who want to stay active in their best years. See www.RetireRockyMountainStyle.com for information on social life and amenities available to you

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MREI EXCERPT
CASE STUDY
NEW DEVELOPMENTS

EXCERPT; LEARN THE MARKET
From page 110 of the MREI book: “Almost anything worth doing has a process. What the Millionaire Real Estate Investors revealed to us was that their thinking followed a process that in the end instructed their actions. The truth we discovered was that you have to know values in order to recognize opportunities and have to find opportunities before you can do deals. That makes sense because you don’t just go out and do deals. You can’t really make a deal until you’ve found an opportunity and you can’t really know if it’s an opportunity until you understand value… How do investors identify value? That’s easy; they look at real estate. They look at a lot of real estate. They look very carefully at a lot of real estate. I wish I could tell you there was a short cut, but there‘s not, and I caution you against trying to create one.”

What better start to looking at a lot of real estate than to do it with me? I have been actively working this market over fourteen years. I have seen several cycles and understand local values and emerging markets. I look at real estate in both lights; is it a nice place to live and vacation, is it going to be a good investment? My fix and flip tours are a great way to get started learning values in an educational setting with other investors and no pressure to buy. Check the event schedule for the next tour.

 

Call today to find out about our upcoming seminar. It’s free and we won’t sell you anything. Excerpts from The Millionaire Real Estate Investor by Gary Keller, by Tom Driemeyer, Keller Williams Mountain Properties 605 Main St. Frisco. 970-389-6123

 

In the short time our Millionaire Real Estate Investor Club has been meeting two of our members have purchased properties with a combined $50,000 in equity and zero net cash flow, meaning the properties pay for their mortgages and expenses. How is this possible in such a terrible market? It’s done first of all by knowing value, knowing your criteria and taking action. Even in very hot markets like Summit County there are forces at work that the investor can use to their advantage. There are always pockets of under priced properties; you just have to know where to look.

Opportunities abound in any market. With the right network in place you can achieve much more than doing it alone. As the keystone of your network I will keep you abreast of new opportunities as soon as they come available. I will keep you at the forefront of emerging markets as they are identified. Call me now to find out how I make this possible for you.

 

I am excited to present the newest building at The Breckenridge Peaks, One Ski Hill Place. It will have 90 luxury residences, with studio through four bedroom floor plans, exceptional amenities such as an aquatics center, conference center, private owner's lounge and more. It is located at Peak 8 steps from 4 ski lifts and the BreckConnect seasonal gondola. This is your chance to obtain the ultimate “ski-in/ski-out” real estate opportunity at the base of Peak 8. The developer plans on providing exact details about One Ski Hill Place in late November. Right now you can view the preliminary plans at my website: http://www.rockymountaindreamhome.com/peak7_8_new.html

In mid-November the One Ski Hill Place Interactive Website will be launched where you can see pricing and floor plans. I will send you an announcement when this is available. I can also get you an offer package if you decide this opportunity is too big to pass up. I assure you that all your paperwork will be hand delivered in time to put you in the selection process.

Please contact me with any questions. Let your friends and family know the last chance to own one of the best properties in Breckenridge will soon be come and gone. Act now.

UPCOMING EVENTS

Fix and Flip tour; Breckenridge area. Sunday October 21, 10am. RSVP please at 389.6123  
Learn property values and recognize opportunities.

Class 3 of “Buy a Million” will be at the KW office Tuesday October 16 at 7pm
Strategies and Business Planning, know your criteria and where to find the deals.

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