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GO BIG ... 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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EXCERPT; LEARN THE MARKET 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
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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.
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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
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Fix and Flip tour; Breckenridge
area. Sunday October 21, 10am. RSVP please at 389.6123 Class 3 of “Buy a Million” will be at the KW office Tuesday
October 16 at 7pm |
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