Breckenridge Real Estate is a steal right now. If you’re an investor and like to ski, Breckenridge deserves some consideration in your 2009 investment plans. I’ve been a CPA and real estate investor in Breckenridge for 25 years. There are many reasons why I feel this is the time to invest. In fact, I have invested my own funds in Breckenridge and will continue to do so. I feel like it is a much safer bet than the stock market and therefore I can sleep at night while my investment works for me and my family.
Here are the main reasons I feel Breckenridge is the place for a smart investor to make some money and enjoy investing with your family:
1. Prices – Prices in Breckenridge have stabilized. In some cases they have gone down slightly. However, the market in Breckenridge is stable. Unlike Vail, Beaver Creek and Aspen, we haven’t seen a huge drop in home volume and prices.
2. Buyer’s Market – After decades of being a seller’s market, the buyer is now in the driver’s seat. This means that the seller is more flexible on both prices and terms.
3. Mortgage Rates – Mortgage rates are so low it’s hard to believe. We are at historical low rates of 30 years.
4. Dropping Gas Prices: Breckenridge and Summit County Real Estate are close to Denver’s Front Range and Colorado Springs. It’s only a 60-90 minute drive for most locations in the Front Range to Summit County, Colorado. The big drop in gas prices is making it cheaper than ever to drive from the Front Range and enjoy a cheap family vacation at 5 world-class ski resorts. It cost a family of four $35 in gas to drive here and have a car for a week, instead of flying somewhere and renting a car for a few thousand dollars.
5. Five world-class resorts: Breckenridge, Copper Mountain, Keystone, A-Basin, Loveland
6. Vail and Beaver Creek – just a short drive away. If you find yourself in Vail, take a walk there for the day. But invest in Breckenridge. Vail and BC are fat cows that are so overpriced that a hillside parking spot is for sale for $500,000 and a townhouse to fix up is for sale for 6.2 million. For comparison, I can show you how you can still get a ski-in unit in Breckenridge in the 200,000 range.
7. Breckenridge is a fun city that can be lived all year long. There are festivals and events throughout the year.
8. Location: The east side of Vail Pass. Vail Pass was closed 48 times last year. Why risk getting caught? Stay in Summit County, Colorado.
9. State-of-the-art, award-winning school system
10. Your best place on the mountain to make a great investment. When the gondola area development is complete, Breckenridge will basically be built. At that time the prices will skyrocket.
Breckenridge is a hidden gem in the world or invest in mountain property. Vail and Aspen get all the press attention, but they are priced too high. That inflation will spill over to Breckenridge and Summit County real estate, you just need to be ahead and invest now.