Colorado Real Estate Maintains Itself in Harsh Climate

By: Art Gib

There are a lot of similarities between resort towns across the U.S. Most of them are there for their fabulous snow and slopes, or have become attractive due to the notable celebrity of the moment making it fashionable to live there. However, whether the real estate landscape has any indicative mark on its quality, Breckenridge has held its own in the land buying market. Much of this is because her core audience does not intend to move anytime soon.

Breckenridge has a lot of permanent homes in the area, mostly because of it's proximity to Denver. The Denver Sprawl is a good sign of big time population boom, and more and more retirees in the area come to Breckenridge to have as a second home. It's thought by some real estate agents that baby boomers are looking for a place to, not only get away for fun, but were their families can meet for a weekend or holiday, while taking in the sights and sport.

Like most of the country, the wave of foreclosure loans hit the Denver area pretty hard leaving a lot of empty homes and desperate sellers. However Breckenridge homes sales have seen their local real estate market pretty even. It has not really followed the national trend and this may be due to a loyal core group who has hung on to their investment property.

One statistic that contradicts that Breckenridge is in a slumping market is that, although the whole of Summit County saw about a 14% decline in sales from 2007 to 2008, there was also a spike in average price of the homes by about 19%. This probably means that the few of those who are actually are selling are in not that big of a hurry to sell and realize there is high value in the property, especially due to the surrounding attractions and convenient access to the big city of Denver via the I-80.

Another statistic about second home buyers (who a majority of Breckenridge's buyers are) is that when the National Association of Realtors did a national survey, they found that 38% planned to keep their home 11 years or more, with a median time of 10 years.

Vacation homes in total are actually bucking the trend. And another reason that the National Association of Realtors thought believed this to be true is that second home buyers from foreign countries are learning of popular vacation home spots like Breckenridge Colorado. Real Estate in Breckenridge seems to be in the crosshairs of a unique group of interested parties.

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