Breckenridge Update

The Harder I Work the Luckier I Get.

  

I have lived by the phrase above for well over 30 years, and it has proven to be true again this past week.
 
My market summary for the week:

1.      Offers on properties that we are marketing have come flooding in - literally.  Over the past week, I have received 8 offers.  3 are under contract now; 2 are in the process of getting approved by banks; the other 3 I am working hard to help the parties come to an agreement.

2.      The process of creating agreements between the Buyers and Sellers is becoming very creative.  For example, one Seller is moving a wall to make the master bath larger to satisfy the Buyer, with the result of both parties being very happy.
 
The market is tough.   It is due to really hard work, stellar marketing, and good luck, that is causing the offers to come in.  If you talk with other Realtors (as I do all day long), you will discover the market has not all-of-a-sudden turned around. No way.
 
I am at a national real estate conference in Denver through Saturday and back in the office in on Sunday.

Love life, 
Daniel Webster Johnson
Broker Associate, Resort Brokers

Cell:  970-393-3300

Email: Daniel@YourMountainBroker.com
http://www.BreckenridgeUpdate.com

Facebook: Daniel Webster Johnson
Twitter: DanielWJohnson
Web: http://www.YourMountainBroker.com

 

Back to the 1980's?????????????

I was not a Realtor in Summit County in the 80s.  I was in Australia and owned a consulting business.  Back in the 80s I bought a spectacular home that was in foreclosure.   Recalling that 'killer deal' caused me to learn more about Summit County in the 80s.   As alI my clients know, I never, ever profess to predict the future.  What I do is learn from the past.  I have four mentors. All are Summit County Realtors who have been in the business here since at least the early 80s.  All told me the same thing:         "I have never seen it this slow."      "It is slower than the 80s."      "Back then was is the last time we saw anything         like this sort of a market in Summit County."   Those comments sent me on a mission to learn more.  I finally found a bar chart*[ View this photo] (it is located below my signature) that shows what happened.  If (I want to repeat that word If) history repeats itself, it could be a long, long wait before prices recover to peak prices.   My market summary for the week: 1.      The buyer I worked with last week has the funds to buy but went back to Dallas without purchasing. 2.      The consensus from asking my mentors is there are about ¼ the buyers in the market now than at the peak, and they are looking more than buying. 3.      Of the 3 low ball offers last week, one has increased to a level the seller is accepting.  Now we have to get the bank's approval.  Yep - the only contract that might proceed this week is a foreclosure.   I'm working on Saturday and hiking a Fourteener on Sunday. Love life,  Daniel Webster Johnson Broker Associate, Resort Brokers Cell:  970-393-3300 Email: Daniel@YourMountainBroker.com http://www.BreckenridgeUpdate.com Facebook: Daniel Webster Johnson Twitter: DanielWJohnson Web: http://www.YourMountainBroker.com *The chart below was produced back in 2006 by one of the largest real estate offices located on Main St, Breckenridge.

Summit County Colorado: A Great Place to Live

Most days this summer I have been taking a mini vacation before work.  I get up early: drive way up a dirt road in my 4 wheel drive; hike for an hour or so; and get to the office by 9am.  These photos will give you a taste of my mini vacations.  You will see our daughter, Yve, (who works with me) in some shots.

 

 

Love life, Daniel Webster Johnson (970) 393-3300
daniel@yourmountainbroker.com
www.YourMountainBroker.com
Resort Brokers Real Estate,

PO Box 1, Breckenridge CO 80424 [100 S. Main]
The Breckenridge real estate blogger & Broker Associate

facebook: Daniel Webster Johnson

twitter: DanielWJohnson

LinkedIn: Daniel Webster Johnson

The Best of Breckenridge - Pizza

 Due to tons and tons of requests from readers and clients who keep asking, "Daniel what is your favorite... in Breckenridge?" I have decided to start blog postings about The Best of Breckenridge.

WARNING - No voting is allowed.  I have lived here nearly 15 years so I figure I have earned the right to decide for myself the businesses I like the best.  I also reserve the right to change my mind.  If a business lets me, a friend or a client down just once there are no longer "the best".  Yes I am a hard ass.  No second chances with me.

The Best Pizza is Giampietro.  In this photo I am sharing a meal with one great guy, Alton Scales, CEO of CMC.

Love life, Daniel Webster Johnson (970) 393-3300
daniel@yourmountainbroker.com
www.YourMountainBroker.com
Resort Brokers Real Estate,

PO Box 1, Breckenridge CO 80424 [100 S. Main]
The Breckenridge real estate blogger & Broker Associate

facebook: Daniel Webster Johnson

twitter: DanielWJohnson

LinkedIn: Daniel Webster Johnson

Breckenridge CO Real Estate Weekly Market Update

1.      Buyers are here.  It is a hot and dry summer in Texas, which is one of the things bringing buyers to Summit County.  This week I am working with one highly- qualified buyer (plastic surgeon from the Dallas area).  In the past few summers, I was working with 4 buyers in this same week of the year.
2.      I have received 4 contracts in the last 7 days for properties we are busting our guts to market.  Each of the properties is priced very, very competitively, yet the offers came in from 15% to 45% below the list price.
3.      10% of the properties I am representing are now in the short-sale or foreclosure process.
 
And the good news is  - which I know is hard to believe - I am loving it.  Both the buyers and the sellers I am working with are obtaining tremendous benefit for my 3 plus decades of experience. 
 
I'm working this weekend.

Love life, 
Daniel Webster Johnson
Broker Associate, Resort Brokers

Cell:  970-393-3300

Email: Daniel@YourMountainBroker.com
http://www.BreckenridgeUpdate.com

Facebook: Daniel Webster Johnson
Twitter: DanielWJohnson
Web: http://www.YourMountainBroker.com

A Price War & A Beauty Competition

I was in San Francisco in February at a conference for the top 4% of Realtors (those who have earned membership in the Council of Residential Specialists - know as CRS) when I heard the phrase above.  The speaker was a well-respected Realtor in the Ft. Myers Beach, FL market (one of the hardest hit with foreclosures in 2008).  He said,    "In the Florida market it is not enough for a property to be priced below the competition; we must market it like crazy to get showings and the home must be in beautiful condition as well.  In other words, we are in a price war and a beauty competition.   Our clients need our professional assistance now more than ever."   I was like a sponge, absorbing every word.  Way back in the winter, I didn't need his advice, but I took copious notes knowing a similar situation just might hit Summit County.  Well our situation is becoming a tiny bit like FL this summer.  We have 1.5 zillon properties on the market and about 0.006 buyers/Realtor.*    Love life,  Daniel Webster Johnson Broker Associate, Resort Brokers Cell:  970-393-3300 Email: Daniel@YourMountainBroker.com http://www.BreckenridgeUpdate.com Facebook: Daniel Webster Johnson Twitter: DanielWJohnson Web: http://www.YourMountainBroker.com   *This is an exageration however does give you a sense of the market this week.

Update - Breckenridge CO Real Estate

The Tortoise and The Hare

A couple of years ago a very good friend of mine, George, said to me, "There is much to be said for the tortoise and the hare."  I have this sentence laminated and keep it in my car so I see it often.  The top handful of Realtors are the tortoises:  slow and steady [we use marketing that works and know the results will come]...
 
Here are the observations of a tortoise in regard to the market this past week:
1.      The market is picking up.  More properties are going under contract.
2.      The buyers are very sincere.  They are here to find a deal and buy.
3.      Offers are slow to come.  Three times this past week I was told by another Realtor that they would be "bringing an offer" on one of the properties I am marketing, yet the offers have not arrived yet - the buyers are NOT in a hurry.
4.      Open houses are NOT attracting buyers.  In the past, at open houses we meet genuine buyers.  Now the people who tend to come in have little interest in buying.
 
Keep in mind that I am working this weekend and my goal is to respond to your phone call within 2 hours.
  
Love life, 
Daniel Webster Johnson
Broker Associate, Resort Brokers

Cell:  970-393-3300

Email: Daniel@YourMountainBroker.com
http://www.BreckenridgeUpdate.com

Facebook: Daniel Webster Johnson
Twitter: DanielWJohnson
Web: http://www.YourMountainBroker.com

Free Golf for Clients

Got to love the word FREE.  A word that is not often associated with golf, at least not in Summit County CO.  I have some coupons provided to me by The Summit Foundation that I am giving away to clients.  Call me for details.

Love life, Daniel Webster Johnson (970) 393-3300
daniel@yourmountainbroker.com
www.YourMountainBroker.com
Resort Brokers Real Estate

PO Box 1, Breckenridge CO 80424 [100 S. Main]
The Breckenridge real estate blogger & Broker Associate

facebook: Daniel Webster Johnson

twitter: DanielWJohnson