A beautiful drone photo of Breckenridge Colorado FRISCO — It’s no secret that luxury means something different in resort communities like Summit County.  In many areas, luxury real estate is defined as anything priced over $1 million. However, resort areas like Breckenridge, Vail and Aspen have many properties priced far above that number. In Summit County, the 2020 year-to-date average sale price of a single-family home is $1.2 million, according to Land Title Guarantee Co.’s April sales report. “Home prices can go all the way to over $10 million in Breckenridge for a ski-in and ski-out newer home,” said Leah Canfield, an agent at Coldwell Banker Mountain Properties. “But there’s a lot more inventory in certain pricing segments depending on what area you’re in.” In Summit County, what a person can get for $1 million varies. In general, it’s cheaper to live in Silverthorne and Dillon, Canfield said. In June, both Dillon and Silverthorne had listings for four-bed, three-bath single-family homes priced at about $1.06 million. In Breckenridge and Frisco, $1 million is likely to get you a condo or townhome, Canfield said. A three-bed, 3 1/2-bath townhome in Frisco was listed at $998,000 while a two-bed, two-bath, ski-in, ski-out condo in Breckenridge is just shy of that at $995,000.  However, local Realtors aren’t likely to consider those properties as “luxury,” the definition of which ranges from Realtor to Realtor and from area to area.  “Locals housing goes infrequently above $1 million but in general to $1 million,” said Jack Wolfe, broker at LIV Sotheby’s realty in Breckenridge.  Wolfe and his partner Aniela Wasmanski said anything above $2 million is considered “high-end luxury” to them.  Canfield defines luxury in Breckenridge to be at least $2.5 million. Marco Del Zotto, broker at High Elevation Realty in Evergreen, said a luxury property in Summit County is likely to be $1.4 million, but that number rises for single-family homes, which he put at $1.8 million. Del Zotto, who also sells properties in Denver, Lakewood, Golden and Evergreen, said luxury can be cheaper in other markets. For example, a luxury home in downtown Denver would go for $1.5 million and $1.2 million in the foothills.  “It’s a little bit cheaper to be in the foothills than it is to be downtown, but that can shift very drastically if you go into areas like Belmar or Lakewood because then the price drops exponentially,” he said.  However, Realtors agreed that $1 million goes much further in Summit County than surrounding resort markets. “Over in Vail, $1 million will buy you a nice one-bedroom condominium in Vail Village,” Wolfe said. “At $1 million, you’d have to go down to Eagle Ranch or even Gypsum to find a single-family home.” Selling luxury Selling a luxury home is no easy task. It takes a lot of preparation. For Wasmanski and Wolfe, that means inspecting every inch of the house so there are no surprises.  “We don’t want to waste anyone’s time, including ours,” she said. “If we’re informing people as much as we can and we’re informed, we can strike when the iron’s hot, and we have everything ready. That’s our goal: always to be prepared.” Canfield said she takes a very similar approach. She looks at what features are unique to the house and the land.  “When we’re looking at listing and selling a luxury home, we spend a lot of energy ahead of time talking about what makes this home unique,” she said. “Once we gather all of that information, we’re able to develop a marketing plan that highlights those items.” Presentation is another major factor when it comes to selling luxury homes. Realtors put extra time into staging — decluttering and cleaning the homes so they look immaculate at a showing or open house.  “One of the biggest things people love about owning a home in the mountains is seeing outdoors and being a part of the outdoors, so (we make) sure it presents itself that way,” Wasmanski said. Lately, Realtors have been relying more heavily on virtual tools to sell luxury properties while restrictions due to the novel coronavirus make listings more difficult. Wolfe and Canfield use Matterport, a virtual reality tool that allows potential buyers to guide themselves through a property from the comfort of their own home.  “We sold two properties last year sight unseen,” Wolfe said. “People were buying it off of the quality photography, the virtual tours.” Del Zotto said selling luxury is about more than just the property. “When you’re selling luxury, you create a story for that property,” he said. “That’s what buyers look for; they don’t look for just the price range or just a specific location. They look to fall in love with the place.”

BRECKENRIDGE — Breckenridge Realtor Marco Del Zotto has been appointed to the Forbes Real Estate Council. Del Zotto is a broker associate with Re/Max Alliance who founded High Elevation Realty, which operates in Breckenridge and the Denver area, according to its website. He specializes in luxury home real estate in Colorado mountain areas. The Forbes Real Estate Council is an invitation-only group that allows members to contribute articles about real estate for the Forbes.com website. Acceptance to the council is awarded to people who have successfully impacted business growth metrics and have a list of professional and personal achievements and honors, according to a news release.  Del Zotto is also a retired professional figure skater. He represented Italy in the 2006 Olympic games.

A real estate agent needs to demonstrate certain traits for them to succeed in this line of work. Granted, not all real estate markets are the same, but buyers tend to look for similar things before deciding they can trust a real estate agent. These traits tell the client a lot of details that the agent doesn’t even need to mention. But what are these traits that clients look for when they talk to a new real estate agent? Sixteen leaders from Forbes Real Estate Council examine the essential characteristics that real estate agents ought to have, and what those traits tell clients about that professional. 1. Drive I look for real estate agents that are driven from within by a cause, a passion or a purpose that involves serving people. You can’t teach desire or being driven. To me, this intrinsic characteristic is the foundation upon which everything else is built. A person must be driven to have the qualities of competency, honesty, integrity, responsiveness, transparency, etc. People can feel this energy! – Bobby Bryant, Ask Doss 2. Curiosity Eighty percent of what you hear from your agent at first should be questions, not a resume, pitch or anything else. That’s how they get to know you—and thus your needs—and this is how they can truly help. In turn, you can be comfortable that as a deal advances, you are being persuaded—not manipulated—so that everyone can win. – Nathan Headrick, BluWater 3. Honesty And Persistence The best brokers are the ones who worry about the long-term relationship and the ones who have strong morals and ethics with the ability to be completely honest with you. On that same token, being pleasantly persistent is important as this is the main function of what brokers do. If you cross that line, you become annoying or ruthless. You need to know how to master being pleasantly persistent. – Heidi Burkhart, Dane Real Estate 4. Transparency Transparency is key. While a licensed real estate professional should know that their primary duty is to their client, it is also essential for any professional to maintain objectivity and transparency toward other parties in a transaction. A win-win transaction can only take place when material information is communicated and understood by all parties involved. – Bryan McLaren, Zoned Properties, Inc. 5. Technological Mindset Real estate agents equipped with technology in their business practices can offer modern solutions with data, automation, artificial intelligence and transparency. Access to data and automation can provide more clarity toward the real estate market as a whole while selling, buying or renting a home. – Chuck Hattemer, Onerent 6. Communication I’d look for communication and transparency. While we maintain confidentiality with our clients, it is essential to be able to communicate in a clear and transparent way. Emails and texts are a great way to have a record of communication “in writing” but it is also essential to build a rapport with clients and business partners. – Marco Del Zotto, High Elevation Realty – RE/MAX Alliance 7. Underlying Passion Don’t just tell me what I want to hear. When selecting an agent, direct and candid communication, deep market knowledge, comprehension of the numbers, willingness to hustle and consistent follow-through are my basic requirements. Once I find these qualities, I make sure the agent has an underlying passion for real estate. Without that passion, the other qualities always fall short. – Joanna Schwartz, Quartz Properties 8. Emotional Intelligence In my opinion, emotional intelligence separates market leaders from distinctly average agents. Reading and understanding clients is a prerequisite to solving their real estate problems with well-thought-through and meaningful solutions. Get that part right and clients will buy from you rather than you selling to them. – Jonathan Hopper, Garrington 9. Work Ethic Work ethic is the biggest factor separating average agents from the great agents. Unfortunately, there isn’t a magic wand to this business. To be truly successful, an agent must be willing to work harder than their peers. It may be difficult to initially find that hard-working agent, but when you do, it will be worth the energy you spent to find them. – Dan Dutton, OMNE Partners 10. Integrity One of the most important characteristics to look for in a real estate agent is integrity. With integrity, there are many other characteristics which also become evident. These qualities will reap a sound, professional and successful outcome. – Peter Ferzan, Ferzan Company LLC 11. Trustworthiness Trustworthiness is an essential characteristic. Ask yourself if is this someone who has demonstrated that they conduct themselves in a professional manner and that they put client needs first. – Nancy Wallace- Laabs, KBN Homes, LLC 12. The Ability To Listen It’s hard to measure, but the ability to listen is essential. It can’t be taught, so agents must gather valuable information. Clients give the need-to-know signals if you listen. An agent must encourage conversation and step back. You can take notes when appropriate, but ask if they mind. They will know you are listening to them. – Michael J. Polk, Polk Properties / Matrix Properties 13. Resourcefulness Real estate transactions are complex, requiring effective handling of a lot of unknown situations. A resourceful agent makes sure that you do not have to settle for less, and provides multiple solutions so that you achieve your desired goal. Resourcefulness is a direct result of years of experience and innovative thinking habits. Look for a resourceful agent to represent you in your next deal. – Amit Inamdar, Own Sweet Home Realty 14. Experience Interpersonal skills, negotiation strategy and composure are a few things you should look for in an agent, but  it ultimately boils down to trusting their experience. There’s so much data, information and options on the internet, it’s easy to educate yourself on the basics. Having someone who understands the nuances through years of experience is key to a successful transaction. – Jennifer Anderson, Anderson Coastal Group 15. Responsiveness Responsiveness is key. No matter how busy agents are, the good ones always make time for their clients. Great agents make their clients feel like the most important people in the world instead of just working the deal and moving on. – Jason Hsiao, Shaw Investments 16. Good Energy One essential quality to look for in an agent is good energy. Are they down to earth and positive? Do you feel that you can trust them? Energy reveals everything about a person, and relationships are everything in real estate. You will grow especially close with your agent during the transaction. Make sure it is someone you trust, feel good about and has good energy. – Pamela Bardhi, The Mosche Group Read on Forbes at: https://www.forbes.com/sites/forbesrealestatecouncil/2020/08/04/16-essential-personality-traits-for-real-estate-agents/#680291187b96

The life of a real estate agent is a busy one, especially as your business grows. You need to make the most of your available time, but juggling your daily administrative tasks can seem impossible when you’re trying to increase your client base. For many up-and-coming real estate agents, outsourcing certain day-to-day work is the best way to free up time in their day. That’s why we asked the members of Forbes Real Estate Council which tasks are ideal to delegate to someone else. Take a look at your to-do list and start outsourcing these 15 tasks so you can spend more time on the important tasks only you can do. 1. Marketing Activities Marketing activities can turn into a full-time job. Marketing yourself might seem like a good option to save money and time, but it’s likely to result in lost revenue. Investing some time in interviewing marketing companies is likely to save you a large amount of time in the long run. It is essential to draw up a blueprint of your marketing vision and hire an expert to bring it to life. – Marco Del Zotto, High Elevation Realty – RE/MAX Alliance 2. Reoccurring Tasks And Activities More than anyone, real estate agents can appreciate the value of leverage. It helps aspiring buyers achieve their dreams of home ownership by purchasing homes with as much as 97% leverage (financing) from banks via a mortgage. In my opinion, taking some time to create templates for reoccurring tasks and activities can help agents leverage their productivity and efficiencies, and earn new business. – Shmuel Shayowitz, Approved Funding 3. ‘Back-Office’ Support I believe you can outsource just about everything that requires “back office” support. It’s the 80/20 rule where you get 80% of the benefit from 20% of your activities. If being the rainmaker is what you are good at, then focus on that. After all, we are in sales and especially during these difficult times when our clients require our advisory services more than ever. – Alex Zylberglait, Marcus & Millichap 4. Prospect Calls I used to do all of my prospect calls and I wasted insane amounts of time. I now have a few assistants that do some preliminary screening work and I step in after that first filter. I have saved a lot of time doing this. – Tony Acosta, Real Team Realty 5. Accounting Tasks Developing systems and processes for expense and revenue management requires some upfront planning, but the long-term time savings (headaches) is immense. Leave the accounting, payroll and bookkeeping to the experts so you can focus on growing your business. – Johnny Vong, Blackfish Capital LLC 6. Professional Photography Outsource your photo needs to a professional photographer. Taking your own photos of listings not only takes up a lot of your time, but will also not present the home in the best light possible to a potential buyer. Hiring an expert will make the property look topnotch. It will shine both online and in print advertising. Photos with good lighting and proper angles can make all the difference. – Don Wenner, DLP Real Estate Capital 7. Marketing Planning And Research Many brokerages are offering services to agents now that help agents free up time and focus on their business growth. Imagine no longer worrying about branding, strategy for targeting new clients or creating mailers/email campaigns. This is the next phase to help agents grow their business and free up time. – Christopher Lazarus, Sellect Realty, LLC 8. Data Entry Declutter your agenda by outsourcing simple data entry tasks. If the task at hand doesn’t require your expertise or input, then allow someone else to do it and focus your valuable time on tasks in which your expertise comes to play. This is part of what experts mean when they say “work smart, not hard.” – Rodolfo Delgado, Replay Listings 9. Your Weakest Areas Before deciding what to outsource, it’s important to audit your strengths and weaknesses. I’ve found that people typically procrastinate or are slower on items that they don’t enjoy or aren’t good at. Through tools like personality tests and strength finders, you can learn what tasks play to your own personal strengths and then outsource those that don’t. – Jennifer Anderson, Anderson Coastal Group 10. Bookkeeping Bookkeeping can be a lot, but even more so in accounting season. I went through three accountants before I found one I love. With his knowledge and passion to know the industry inside and out, he saves me from huge blunders and opens my eyes to opportunities to grow. Having a third party handle my bookkeeping has been essential for my business. – Heidi Burkhart, Dane Real Estate 11. Follow-Up Texts And Emails Nowadays, follow up texts and emails could easily be done with a single click of a button. However, follow up calls (especially to warm leads) should never be done by anyone but you. Real estate sales is a relationship management business. The more personal time you spend on prospective clients, the stronger your relationship becomes and the more likely these will turn into sales. – Ron Costa, The Eighty Two Group 12. Digital Advertising Your strength as a real estate agent is selling homes, not creating websites, taking listing photos or online advertising. Hiring a team to handle your digital marketing can boost your brand awareness and increase customer acquisition. Although this is another business cost, it will give you more time to talk to customers. Focus on what you do best, which is being a sales agent. – Chuck Hattemer, Onerent 13. Everything You Don’t Like Doing Operate purely form the perspective of the “highest and best you.” In other words, outsource everything that you don’t like doing. If you are the team captain/leader and you primarily are the face of the business, then that’s all you should do. Hire a fulfillment team that does everything else and you go out there drive in the business to your office. – Bobby Bryant, Ask Doss 14. Everything You Can Real estate is largely based on your ability to sell and your ability to understand your market and your numbers. The vast majority of everything else should be systemized or delegated when possible. From file management, marketing, cold calling and scheduling. Make sure the actions that matter the most are what you focus the most time on. Being productive is always smarter than being busy! – Alex Vasquez, Rhino Realty Property Management Read on Forbes at: https://www.forbes.com/sites/forbesrealestatecouncil/2020/06/17/need-more-time-back-in-your-day-15-real-estate-tasks-to-outsource/#65d297cd272a

When consumers are looking for rental properties, one of the first places they check is social media pages. Landlords have understood the power of social media for some time now. Yet despite understanding how powerful a marketing tool it can be, many landlords don’t use it to its full potential. This lack of investment in this technology may come from a misunderstanding of how it can benefit their business. With the right targeted ad campaign, a landlord could potentially double their occupancy in some properties. Below, 12 members of Forbes Real Estate Councilexamine how landlords can leverage social media to boost their current occupancy rates. 1. Leverage Your Community’s Clout Leverage your community’s clout to boost occupancy. By providing unique experiences to your residents—whether virtual or social-distancing friendly—you can further build loyalty and create organic social media posts that will spawn referrals. Social posts by your residents and tenants will show why your property is great, boosting retention, occupancy and your overall brand. – Benjamin Pleat, Cobu 2. Host Virtual Open Houses Have a leasing agent livestream or prerecord a property tour. Make sure they start outside of the property and guide the viewers through all of the selling features. Make sure to also showcase the entry, hallways and amenities. – Aaron Galvin, Luxury Living Chicago Realty 3. Look To Add Value Social media is generally most helpful when there’s really something to share. The choice of which social platform depends entirely on your target demographic. On any platform though, attractive community photos are helpful, along with details of move-in specials, amenities and details of the locale. Always look to add value. – Ellen Calmas, Neighborhood Pay Services / NPS Rent Assurance 4. Use Facebook Marketplace Facebook Marketplace is the primary tool we use to find residents for our mobile home park communities. Over the last several years, we have seen a migration in activity toward Facebook and away from Craigslist in our markets. Due to growth in the Marketplace, people have grown accustomed to using this as a source for finding their next best place to live. – Todd Sulzinger, Blue Elm Investments 5. Start With Facebook And Instagram Ads First and foremost, they have to embrace it! With the majority of renters starting their search online, having an online presence is more relevant than ever. With millennials making up a high percentage of renters around the country, as a landlord you have to create exposure on the platforms they are mostly using. Utilizing Facebook and Instagram ads is a start when creating engaging content. – Julian Williams, JW Realty Partners 6. Have Channels Dedicated To Property Videos Have a YouTube channel and Facebook page dedicated to property videos. In some cases, we have seen a significant number of views on videos. Videos are added to data sheets, listing websites and the company website, and at times, we will pay to boast our videos to get even more views. This has been successful in bringing in new tenants and increasing interest when a prospect shows initial interest. – Dan Dutton, OMNE Partners 7. Post About Anything Positive Post about anything positive happening with residents, such as upgrades to the property. With permission from residents, other positive events you could post about could include milestones like a family’s long-awaited graduation. – Nancy Wallace- Laabs, Profitable Landlord System 8. Incentivize Residents To Share Your Materials Social media is all about shareability. You need others to share material on your behalf to be successful on these platforms. To do this, create a promotion which incentivizes current residents to share your marketing material. Provide current residents with a monetary concession if they share your marketing promotion via social media and it leads to a friend referral. – Brian Spear, Sunrise Capital Investors 9. Collaborate With Large Local Influencers Collaborate with influencers with a large local following. Influencer marketing has been embraced and utilized effectively by a number of industries, but real estate is definitely lagging behind. Having utilized both paid social media ads and influencer collaborations, the latter definitely provides a better ROI with regard to reach, engagement and the resharing of posts. – Catherine Kuo, Elite Homes | Christie’s International Real Estate 10. Post Neighborhood Reviews Most of our daily activities have moved to an online model. Neighborhood reviews are popular, and landlords can leverage social media by creating valuable content about their properties, as well as the community. Neighborhood reviews are a great way to highlight a rental’s surrounding community. Future tenants are now looking to rent space and a “lifestyle” that fits their daily routines. – Marco Del Zotto, High Elevation Realty – RE/MAX Alliance 11. Leverage Credibility Boosters Testimonials, events and opportunities—all of these allow potential tenants to build trust while incentivizing a call to action. Allow comments on your posts without eliminating the bad ones. Instead, allocate time to listen to customers and respond efficiently. Allow potential customers to experience firsthand a customer service that is responsive. – Rodolfo Delgado, Replay Listings 12. Organize Social Media Challenges Organize challenges, but don’t call them contests. Challenges are all the rage on social media today. Landlords can provide t-shirts, hats and water bottles to tenants and challenge them to post pictures on Instagram or Snapchat showing their pride in place. Whether an art project, bike ride or hike, it gets your name out into the world. Smaller landlords can do it with a hashtag like #BestPlacetoLive and daily posting goals. – Kristin Geenty, The Geenty Group, Realtors Read on Forbes at: https://www.forbes.com/sites/forbesrealestatecouncil/2020/09/29/12-ways-landlords-can-use-social-media-to-boost-occupancy/#3a82a27b290d

Across the country, there is currently a limited supply of available homes on the open market. This gives prospective sellers the upper hand in real estate negotiations, so many homeowners are looking to increase the future value of their home even further. With a few strategic home improvement projects, you can not only increase your quality of life in the near-term future, but also add tremendous property value when you’re ready to sell. But which upgrades are the most likely to pay off down the road? Below, 14 members of Forbes Real Estate Council share the best projects and room renovations to invest in right now. 1. Kitchen Kitchens sell homes! The largest sell is absolutely the upgrades in a kitchen. The culture today is cooking from home as minimizing dining out can save money over time and be safer for families. A great benefit in renovating the kitchen now is that the homeowner can enjoy it, and the following year when they decide to sell, it can still be marketed as recently upgraded. – Christine Nieva, Nieva, Inc. 2. Home Office Who hasn’t been on an important Zoom meeting when a family member comes in and says, “Did you feed the dog this morning?” despite the sign on your door that says, “Do Not Disturb!” I think a home office with one wall painted with green screen paint is called for. I’m over having Zoom meetings showing bedrooms with unmade beds! – Eileen Lacerte, Better Homes and Gardens Real Estate Island Lifestyle 3. ‘Tiny Home’ Backyard Offices Well done kitchen and bathroom upgrades always make a home more livable, but recently, homeowners are buying tiny homes and prebuilding office space to put in the backyard to accommodate the new work from home trend. There are easy to get required permits for and it adds significant value for needed extra living space with an affordable price tag. Tiny offices cost around $8,000 installed and hooked up. – Timmi Ryerson, Smart Property Systems – Property Management 4. An Additional Room When you are unable to easily increase the square footage of your home, adding an additional bedroom or bathroom will raise the property’s value. This can be done by converting an area in the home into an additional conforming bedroom or bathroom. Appraisers compare properties based on a multitude of factors, some of which are the number of bedrooms and bathrooms. – Mor Zucker, Team Denver Homes – RE/MAX Professionals 5. Everyday Hardware Doorknobs, light switches and AC thermostats are items we interact with every single day, yet we rarely replace them. Upgrading the hardware used every day gives your home a more modern feel. To go the extra mile, add items that connect to WiFi. Both potential buyers and your family may appreciate not having to touch or disinfect them as often—especially during a pandemic. – Rodolfo Delgado, Replay Listings 6. Paints And Window Treatments People are very sensory and visual when it comes to a home. Buyers know within the first 10 seconds of walking into a house if it feels like home. Economical options are to paint to brighten the space via light or warm colors. Update your window treatments to allow light into the home, and deep clean or replace your flooring. Odors, regardless of aesthetics, could make a home less desirable. – Bobby Bryant, Ask Doss 7. Fast Broadband Internet With the rise of working from home, fast broadband is a necessity, not a luxury. Properties in some locations don’t always enjoy the best broadband availability, and the cost of a dedicated leased line has historically been prohibitive. However, there is now a legitimate argument that this is now more of an investment which can enhance the desirability and market value of a home. – Jonathan Hopper, Garrington 8. Energy-Efficient Equipment As we move into the future, new homes are mostly equipped with energy-efficient equipment. Upgrading existing homes to be ultra-efficient with a combination of state-of-the-art energy-efficient equipment, as well as renewable energy systems will allow homeowners to have an improved quality of life and potentially increase their home value. – Marco Del Zotto, High Elevation Realty – RE/MAX Alliance 9. Garage Door When looking at return on value, your home’s garage door(s) is one upgrade that returns higher than the average value. Not only does it provide a quality of life upgrade, but the curb appeal aspect entices the buyer as they can see the home has been taken care of before even stepping inside. Additionally, it makes for great professional photos for buyers looking at your home online. – Don Wenner, DLP Real Estate Capital 10. Appliances Update broken appliances every 10 years or so. People like to live in modern-feeling spaces. A nonworking stove or refrigerator screams neglect to renters touring a home. For first-time homebuyers, some expect modern appliances such as a washer or dryer. Modern appliances increase the quality of life and add home value for a rental or sale. – Chuck Hattemer, Onerent 11. Utilities And Roofing Upgrade systems like plumbing, heating and air conditioning for your enjoyment and future resale. Also upgrade the roof and associated gutter system. This is not sexy, but really matters the most.  – Michael J. Polk, Polk Properties / Matrix Properties 12. Flooring Bringing any home into a modern, yet timeless look is going to be beneficial. Updating kitchens and bathrooms are great ideas, but changing the flooring throughout a house has a huge impact as well. You can make rooms seem larger and brighter if you’re picking the right touches. – Marshall Friday, ADT Security Services 13. Organizational Systems And Outdoor Spaces Typically one would think kitchens and bathrooms, but two top trends are shining through as value-add projects. First, with the rise of Marie Kondo and the prioritization of organization, high-quality organizational systems in closets and pantries are highly sought after. Second, with remote work and quarantine time at home, high-quality outdoor spaces and home offices have also become very sought after. – Matt Weirich, Realync 14. Home Improvements Recommended By Local Realtors New roofs. New plumbing. Added bathrooms. Generators! It’s hard when you have a home as we want the look to be ours, but beauty is in the eye of the beholder and it’s a waste of money. I’d speak to a few realtors and ensure your area will benefit from extra home perks before you sink money in. It’s always smart if you are being conscious instead of decorative. – Heidi Burkhart, Dane Real Estate Read Article on Forbes: https://www.forbes.com/sites/forbesrealestatecouncil/2020/09/14/14-home-upgrades-that-will-boost-property-value/#ce315d23a1ac

Summit County, Colorado is home to some of the best resorts in the world. During the last decade, many have made the decision to invest in Colorado’s mountain real estate. When compared with single-family homes, condos offer the perfect mix of benefits and amenities. As a local broker, I know that there are many reasons to purchase a vacation home in the mountains — and many factors to consider in your purchase, as well. 1. Price Tag Mountain properties’ prices vary based upon several factors. Ski-in/out is surely the most desirable characteristic, and it comes with a high premium. In addition to location, a clear, unobstructed mountain view could be priced 20% to 30% higher than a similar unit with no view. With the exception of some very rare units, condos are generally less expensive than single-family homes. According to the Summit Association of Realtors, the median price of condos as of June 2020 is $565,000, while the median price of single-family homes is $1,097,500. 2. Luxury Amenities Condos typically come with association fees, which in most mountain condo developments will offer access to world-class luxury amenities like ski-in/out, direct access to hiking and biking, hot tubs and pools, saunas — you name it, they have it. Luxury amenities are not only desirable to owners, but also to renters, and short-term rental websites allow and encourage customers to filter properties for amenities.  When you are on vacation, you want things to be effortless and within reach. Owning a mountainside condo can mean direct access to mountain activities and, often, proximity to resort-area restaurants, bars and shops.  3. An Income Opportunity Owning a mountain condo not only provides a great place for you to utilize at your own leisure; it can also potentially generate income. Short-term rentals in areas like Breckenridge, Keystone and Copper Mountain continuously sell out during November through April and June through August.  You can also leverage websites like stay4free.com and homeexchange.com to trade days at your property for another location of your choice. Many owners get creative and make sure to leverage every possible angle.  You may also benefit from tax advantages by renting your property, so it is essential to have discussions with a local real estate broker and accountant to see how you can maximize enjoyment and profitability.  4. All-Inclusive Expenses Many homeowners’ association fees are formulated as all-inclusive packages, meaning owners do not have to worry about additional service bills. Amenities are also generally managed and maintained by the condo association and are part of the association fee. For those who look for a hotel experience, you might consider a condo development that offers housekeeping services for an additional fee.  5. Location When choosing a location for a property, it is important to consider elements relevant for both your personal vision as well as for potential guests. House hunters should start by looking at property in their favorite resorts. For example, Keystone is known to be family friendly with promotions and facilities specifically for families with kids. Breckenridge offers world-class skiing as well as an abundance of restaurants and shopping venues.  It is not always about getting close to the trails. Many ski passes such as the Epic Pass and the Ikon Pass offer multiresort access. As a result, potential area homeowners and travelers can opt for lodging in more central locations such as Dillon and Frisco and have easy access to multiple resorts. During the last few years, I’ve observed how the increased interest in multiresort vacations has propped up the values of centrally located properties. Condos are also a great way to diversify your investment. Instead of committing a large sum of money to a single-family home, investing in multiple condos may enable you to not only enjoy different locations for your own traveling, but also to help balance rental income. 6. Position Yourself For More Adventure Everything changes in life, including your favorite spots to vacation. Although more affordable than single-family homes, slope-side condos with the most desirable locations and amenities come at a premium. Purchasing desirable real estate is not always an easy task, but once you decide that you are ready for another location, selling a condo in a desirable location may result in a faster process. In my personal experience, condos in locations like Breckenridge, Keystone and Copper Mountain can sell in about one to three days from getting listed, while single-family homes take approximately seven to 30 days if priced well. Final Thoughts In the overall evaluation of the purchase of Summit County property, condos tend to get buyers closer to most desired locations and offer a bundle of attractive services. Ultimately, it is important to have a clear understanding of your own desires as well as an actionable financial plan. Local experts are always eager to offer tips on the newest hot spots, as well as guide buyers on how to secure real estate in their favorite mountain spots.  Read on Forbes.com https://www.forbes.com/sites/forbesrealestatecouncil/2020/08/19/six-things-to-consider-when-buying-a-colorado-mountain-condo/#2aeab5645bed

In today’s age of technology, the online resources available to sell a home are endless. One of the most prominent websites of the last decade is Zillow, which in some markets offers to buy your house directly for cash, but there are countless websites promoting the “best new tools” to successfully sell a property. So with all those resources, why are the majority of luxury properties still sold by real estate agents? And why does it seem it is always the same few agents who handle the luxury market? The answer is simple: The key to selling luxury is often kept a secret because the process is part art and part science. It’s not standardized and not a result of a repetitive system with a one-size-fits-all, plug-and-play concept. What is the definition of luxury property? In large metropolitan areas, luxury properties typically make up a small segment of the overall real estate market. The generic categorization of luxury would be any property above grade to the rest of the market, with high-end finishes, architecture and property design. In mountain areas, which is where I sell real estate, there is a prevalence of second homes with mountainside access, and luxury homes can make up as much as 30% to 50% of the market, in my experience. A luxury mountain property is typically built on a lot with premium and exclusive views, with amenities “at a glance” and offering total harmony with nature. The property flows in a way that relaxes and energizes those who live in it and is configured to create immediate harmony with both owners and guests.  Who is the buyer of luxury property? Typically, luxury property buyers are experienced real estate purchasers, and the purchase is largely about their wants, rather than their needs. There is a desire to feel a connection with the property, for a certain lifestyle and design. Buyers look for elements that work with their daily routines, from the first steps of waking up in the morning to the overall flow of the days to come.  So, how do we sell luxury and what is the ‘secret’ to success? Many of us in the business like to call it “the story.” When real estate agents market luxury properties, we work closely with the sellers to analyze and understand their habits, how their life looks in such a property, and what made them fall in love with the property or build it in such a way. No detail is left behind in understanding the psychology of the seller’s relationship with the property and their life in it. In other words, the most important thing to understand is the space itself and the story behind it, because a luxury property buyer cares about the story as well as the numbers. The secret is in asking the right questions and listening carefully to the stories of the seller and the buyer. Once the space and the story are clear, marketing is the tool for storytelling — and specifically, targeting those who will be a great fit to purchase the property.  One of the most successful tools to writing the property story is cinematic video. Video advertisements for real estate have been around for years, but there has been a shift in what makes them effective and what makes individuals react to them.  The key ingredient to some of the most effective marketing videos is the human presence — using actors to transmit something that is unique to people, which is seeing things from another person’s perspective. Build a storyline based on a script of information collected in the discovery process with the current seller and the trends of the moment. Seasons have a big impact, and everything should be tailored to the current video of the listing. The video should capture what it is like to be in the property without really being in the property. Seeing a person wake up and walk to the patio to look out at the view and take in a breath of fresh air connects with the luxury buyer. The typical stale, empty pictures of the property or plain video are fine, but they’re not as stimulating and do not allow for the purchaser to create an instant connection. Video is unequivocally one of the most effective tools to tell the story of the property.  This is where it is all part art and part science. We know the science behind a home search — we know where the buyers are coming from, who is looking and at exactly which properties. The art and the ultimate success in selling luxury properties happens when the buyers feel the connection to the property through storytelling. The best storytelling captures the imagination of the buyer and connects the buyer to the land, views and overall feeling of life in the property, all before the buyer sets foot into the home. That is the beauty and design of luxury property storytelling. Read on Forbes.com https://www.forbes.com/sites/forbesrealestatecouncil/2020/07/14/the-secret-to-selling-luxury-real-estate/#214939c84108

What if you were told that you could vacation at your favorite Colorado mountain resort and also generate income at the same time? During the last few years, with the increased attention brought to Colorado’s ski towns by giants such as Vail Resorts and Alterra, I have seen the demand for lodging in Colorado’s resort areas boom. Travelers are turning their yearly trips into creative investments by becoming owners and vacationers. In today’s ever-changing investment environment, owning a Colorado mountain property can serve as a source of income, retirement planning and, ultimately, generational wealth. Breckenridge, Colorado, has become one of the most desirable ski areas in the world. Minutes from some of the country’s largest ski resorts and in close proximity to the city of Denver, Breckenridge is an easy effort to get to. But its real estate price tags can be intimidating, and the markets may feel too crowded for a hopeful investor. If you ask me, there is another way to get everything you want. Even having established a real estate business of my own here, I can say that the journey to discovering the Colorado mountains’ “hidden gems” is not a straight path. Connecting with fellow local businesses has been key for me to be able to bring clarity that helps lead real estate investors into achieving success in this region. Let me tell you about the town of Blue River. Blue River: A Hidden Gem The town of Blue River is a statutory town in Summit County, Colorado. Adjacent to Breckenridge, it offers some of the county’s most breathtaking views. Its border is the mountains’ tree line, but it is still entirely surrounded by thick forest and the Rocky Mountains. The town’s climate is unique. While most of Colorado is a dry desert state, Blue River is typically cold. During winter months, Colorado’s dry and fluffy signature snow is on the daily menu, while in summer, air conditioning is left behind as temperatures rarely reach 70 degrees — an ideal climate for visitors seeking relaxation and recreation. Blue River’s elevation is 10,036 feet. To help visualize such an altitude, can you recall flying on a commercial jet and hearing the 10,000 feet “bing” sound? That’s where Blue River sits in the sky. Life at 10,000 feet is totally different from sea level, so some visitors face difficulties such as altitude sickness, but that is typically temporary. It is essential to experience life at this elevation before making it even a part-time residence. Another factor to consider is that daily activities such as walking at 10,000 feet are a lot more demanding. The heart rate of a hike at such elevation could be compared to that experienced during an intense run at sea level. But many vacationers find that with the challenge of low oxygen comes the reward of building endurance, and the fresh, clean air is an extra bonus. Investment Investing in mountain real estate is not for everyone. Just like any other investment, mountain homes’ values are linked to the economy and market corrections. A combination of creativity and versatility is the key for investor success. If you are serious about making an investment in mountain property, here a few suggestions to get you ready. Know what you are prequalified for, or better yet, be prequalified by a lender. The lending process in the mountains is a bit different due to many properties on resorts being considered “condotels.” The mortgages on these types of properties are more complex and require an experienced lender familiar with condotel mortgages. The seven-figure price tags that are common on these properties can be intimidating, but there is always a way. Leave no room for assumptions or unanswered questions. Once there is a clear understanding of the ambitions and desires for a property, a local real estate advisor — of course, I recommend one who lives and breathes the local community — can help you decide on how to customize it to be your own and a vehicle for generating revenue. Final Thoughts Although Blue River remains a semi-secluded location in the heart of a popular world-class ski resort, cost of living is quite high but in line with the resorts in the area. The town itself does not offer any facilities, but Breckenridge provides all the must-haves and wants a short driving distance away. The continued development of the skiing industry in the area, as well as the outdoors lifestyle, will ensure the long-term growth potential of your real estate investment — and afford you the ability to create lasting memories. If you like vacationing in warm climates, this may not be the investment avenue for you, but if you are a fan of white, powdery winters and cool summers, Blue River could be the secret spot you have been looking for. Read on Forbes.com https://www.forbes.com/sites/forbesrealestatecouncil/2020/06/15/investing-in-the-colorado-mountains-secret-spot/#5a53732b6fb5