Considering Investing in Summit County? You've made a wise choice. Here's why:
Summit County, located in the Rocky Mountains of Colorado, is a premier location to invest in real estate. Recently, the stream of aging boomers has been joined by investors from Latin America, Europe, and other parts of the world. They're all looking to own a piece of the beautifu Rocky Mountains while there is still property available.
Looking back over the last fifteen years, we see not only great appreciation, but a unique consistency that is attracting investors from around the world. The average price for a residential property (including single family homes, duplexes, townhomes, and condominiums) in Summit County in 1993 was $123,040. By 2005, it had risen to $398,409. In 2006, it jumped to $463,781. In 2007 the average price climbed to $552,597. Many people are finding that prices are still affordable while obviously appreciating at a very strong pace. Once relatively unkown, Summit County is drawing attention around the world. Latin Americans, especially from Mexico, who have long loved Colorado's ski resorts, are turning to Summit County. Europeans, especially with the current strength of the Euro, are buying in record numbers.
Why does Summit County offer such a good investment opportunity - and one that promises to remain so for the next 10-15 years? here are some of the reasons:
Summit County, located in the Rocky Mountains of Colorado, is a premier location to invest in real estate. Recently, the stream of aging boomers has been joined by investors from Latin America, Europe, and other parts of the world. They're all looking to own a piece of the beautifu Rocky Mountains while there is still property available.
Looking back over the last fifteen years, we see not only great appreciation, but a unique consistency that is attracting investors from around the world. The average price for a residential property (including single family homes, duplexes, townhomes, and condominiums) in Summit County in 1993 was $123,040. By 2005, it had risen to $398,409. In 2006, it jumped to $463,781. In 2007 the average price climbed to $552,597. Many people are finding that prices are still affordable while obviously appreciating at a very strong pace. Once relatively unkown, Summit County is drawing attention around the world. Latin Americans, especially from Mexico, who have long loved Colorado's ski resorts, are turning to Summit County. Europeans, especially with the current strength of the Euro, are buying in record numbers.
Why does Summit County offer such a good investment opportunity - and one that promises to remain so for the next 10-15 years? here are some of the reasons:
- Only 15% of Summit County can be developed. The rest is untouchable and belongs to the National Forest Service or the Bureau of Land Management. Within 4-8 years, Summit County will be "build-out". That means there will be no land left. At that time the prices of real estate will sky rocket. Smart investors see this, and are doing what they can now to capture their share.
- We are just beginning what economists are calling the "the greatest transfer of wealth in human history". This is when the assets (counted in the trillions of dollars) of the parents of baby-boomers are transferred to their children. Studies are showing that a large percentage of this newly acquired wealth will be spent on second homes, especially in resort areas. While other areas of the real estate market may go through the nomal ups and downs, resort real estate will consistently rise.
- Summit County is located just an hour from Denver. DIA, Denver's International Airport, is now among the ten largest in the world. Where else in the world is there a resort area so close to a large city and a large airport? Denver is increasingly growing as an influential city. The economic growth of Denver and the Front Range helps to fuel the growth in Summit County.
- There are four world class ski resorts in Summit County...all within 20 minutes of each other. If one combines the number of skiers visiting each year, it ranks as the top ski destination in the world! Each resort has its own distintive character and unique flavor.
- Summit County has an abudance of snow every year because of its high elevation. Snow is abundant even on the less-than-average snow years, unlike other resorts located on the East Coast of the US or ski resorts in Europe. It will be decades before global warming begins to threaten snow levels in Summit County.
- While many resorts boast great activities in either winter or summer, Summit County offers both. First known for its ski areas, it has also become known for its summer attractions: hiking majestic mountains, camping, biking, and water sports such as boating, rafting, and kayaking. The climate in summer with is near perfect tempratures and low humidity are attracting many tourists.
- Amenities in Summit County are numerous. Lake Dillon has two marinas, making it possible to travel from the town of Frisco to Dillon by boat. There is a free shuttle bus service connecting all the towns and resorts. There is a bike path system that does the same for those who want to bike, walk, or cross country ski. There are summer festivals that attract hundreds of thousands in the summer. Frisco and Breckenridge are known for their popular summer events.