Colorado ski real estate doubles, will there be a drop on the other side? 5 factors that will shape the future
The amount spent on real estate in six of Colorado’s resort-anchored counties doubled from 2019 to…
It’s snow time! As I’m looking out the window watching snow fall and just read the announcement that Wolf Creek, Arapaho Basin, and Loveland will start spinning their lifts this week, it reminds me of the importance of winter weather on real estate. In markets like Colorado, sales slow in the fall/winter even in the high country/ski resort areas. Not only are prices lower but you can take advantage of insights only winter can provide. During the winter you can see things that aren’t apparent during warmer months that could make our break your buying decision. 5 critical questions only old man winter can answer.
Why do sales Cool in Winter?
Throughout the winter sales slow substantially both in Denver metro (entire front range) and throughout the high country. I’ve heard different theories as to why. The first theory is that most people want to move around the school year. The second theory is that people just don’t like looking at houses when it is cold. The final theory is that people think about the two theories above and therefore hold off on listing until the spring and therefore perpetuating (i.e herd mentality) the notion that winter is not a good time to buy (less inventory, etc…)
Regardless of why the market cools, winter is actually in my mind the best time to buy especially in the high country. Even if you don’t want to buy during the winter, it is imperative to “experience” the area in the winter and even scope out properties during the winter months. I’ve put together a list of five critical items to look for when buying mountain property to make sure you aren’t making a terrible investment/ decision that you will regret.
5 questions only old man winter can answer
Commercial property impacts
Although I focused heavily on the residential side of real estate above, winter is also critical for commercial real estate. In the winter you are able to see where roof problems are from snow and also how snow/ice will sit on sidewalks, parking lots, etc.. You will also be able to see other hazards. For example does a roof slope towards a walkway creating a serious hazard from falling snow/ice? What you see during the winter provides critical information to make the best real estate decision.
In summary, it is imperative to look at real estate in the winter, especially in the resort markets. The winter can answer critical questions that alter the value of the property. The 5 items above could make our break not only your happiness with your purchase, but also could drastically alter the value equation of the real estate you are purchasing.
I have closed thousands of loans throughout Colorado in all seasons. One of our specialties is mountain properties in ski/resort communities. We can fund condos, land, residential properties, and commercial properties. If you have questions about any of the above or need financing quickly please give me a call (303…459…6061)
Written by Glen Weinberg, COO/ VP Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in the Colorado Real Estate Journal, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.
Fairview is the recognized leader in Colorado Hard Money and Colorado private lending focusing on residential investment properties and commercial properties both in Denver and throughout the state. We are the Colorado experts having closed thousands of loans throughout the state.
When you call you will speak directly to the decision makers and get an honest answer quickly. They are recognized in the industry as the leader in hard money lending with no upfront fees or any other games. Learn more about Hard Money Lending through our free Hard Money Guide. To get started on a loan all they need is their simple one page application (no upfront fees or other games).