Summit County Mountain Homes, Inc.
Breckenridge Colorado Real Estate

Market: Breckenridge, Colorado is the third largest ski resort in North America. Summit County, Colorado also boasts three other major ski resorts within the countries top fifteen destinations. Copper Mountain, Keystone, and Arapahoe Basin are all within 20 minutes of main street Breckenridge. The real estate market in Summit County has been driven largely by second homebuyers and "baby boomers" looking to diversify their portfolios in a rapidly growing real estate market. Double-digit appreciation has taken place over the last four (4) years.

As Aspen and Vail Colorado prices continue to skyrocket, the availability of lots in Summit County continues to diminish. Summit counties local government and the local board of realtors both concur that "total lot sellout" will occur within the next five (5) years. When this happened in Aspen, prices reached unheard of levels. Average median price single family homes in Aspen have now topped the 5.1 million mark.

Experience: The owner of Summit County Mountain Homes has been building and developing mountain property for over six (6) years. One of their recent projects "Whispering Aspen Resort" which consisted of over 300+ homes, less then 20 minutes from Breckenridge in Park County. The second home markets in Park and Summit County, Colorado, have been the focus of his business. Summit County Mountain Homes is currently building five high-end semi custom models in the Breckenridge area.

All Contracts with Builder are fixed sum contracts. The prices above all inclusive and include both the home and the lot. Builder Contracts are FIXED SUM and do not change for the buyer.

Earnest Money Deposit required is held by Summit County Mountain Homes, Inc. The amount is $12,000 and is non-refundable. (Holds Lot - Covers cost of Prelim work that must be done prior to closing soil, perk, survey, fees)

Completion / Start estimates: Homes contracted to close during the winter or early spring, lend themselves spring starts can easily be completed in early summer. Because of the weather in the Rocky Mountains at elevations in Summit County traditional 100% "onsite" or also referred to as stick construction can take 12 -14 or as many s 18 months to complete. The homes are subjected to all kinds of weather related elements such as wind, rain, snow and deep-freezing temperatures.

Summit County Mountain Homes operates and builds its homes using a combination of both on site and off-site construction. Through this process we are able to better control the length of construction, thus saving our clients money by shortening the length of time of interest charged during the construction process, as well as the quality and grade of materials. Our completion process is usually done in 6-7 months! Occasionally we have run into longer times to complete a project but it has been due to architectural review committees located in and a part of a particular subdivision Home Owner's Association that slowed the process.

Financing:

Construction to Perm
As the Builder / Developer Summit County Mountain Homes has secured financing for customers thru both Countrywide Mortgage and also thru Clarion Mortgage Capital mortgage bankers who originate loans thru National City Bank. Each having similar underwriting requirements offers the best construction to perm financing for homebuyers. On individual transactions, a "one step" construction loan has allowed the borrower to do second home / stated income loans with very little up front investment. Typically 10% has been required under these programs, although some have been approved with as little as 5% down.

Restrictions apply to reselling if the homes are considered "second homes". A larger bank credit facility would seem to make better sense in the case of multiple purchases or investor group purchases. An "As Built" appraisal can be provided to show the completed value of the home and the equity established.

Basic Financing Qualifying Requirements

• FICO scoring of 700+ is required for Construction to Perm Financing 80/15/5
• Up to 95% LTV Full Doc
• Up to 90% LTV Stated Income
• Primary and or Second Home status
• Interest reserves can easily be created to service the debt during the construction period.

When building for a Primary Residence and utilizing a Full Doc loan option process then Appraised Value of the completed project can be used.

Real Estate Availability

RealEstateColorado.Net, Inc at Keller Williams Executives exclusively markets Summit County Mountain Homes, Inc. Current real estate market condition updates can be obtain, pricing and availability of models as well as fractional share homeownership opportunities can be obtained by contacting Jeffery McClintock, Broker at 1-866-437-6749 x 17155.

By utilizing the strength of his team, Jeffery can offer you full multi-market expertise by handling negotiations locally, regionally or on a national basis. His personal mission is to bring to you a new level of knowledge experience and commitment, high standards and results to answer your needs. He believes the most effective way to provide superior service is to build a strong working relationship with you. Our system involves regular consultation and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.

Please click on one of the links below to view a slide show of how our semi-custom systems built homes are assembled on site.

If you are considering building a home in Colorado, please contact us using our on-line response form, or call us. We think you'll find working with RealEstateColorado.net a rewarding, enjoyable and fun experience and we look forward to hearing from you. Thanks again for visiting our web site!