October 13th, 2009
The season is off to a good start this year with advance bookings now back on track in Breckenridge. From the people I have been talking to over the past few weeks, the sentiment seems to be that things are getting better with the economy or they have just decided that they can’t doing anything about it so let’s go on vacation!
Christmas is booking up and people are already starting to think about spring 2010 break as the March inquiries start rolling in.
If you’re thinking about a Breckenridge ski vacation and looking for a vacation rental, plan early as the best properties will get snapped up quickly.
No Comments . read more
June 16th, 2009
Investing in a Breckenridge Vacation Rental has become increasingly popular over the last decade, which isn’t surprising considering the potential benefits of owning a property located in one of the most desirable areas of the Rocky Mountains.
The obvious benefit is from the increasing value of properties in the Breckenridge, Colorado market, but vacation home owners can also benefit from rental income, which generates cash to offset the cost of owning the property as well as enhance the return on investment. Lastly, the sheer enjoyment of owners’ and their families using the property as a family retreat, a place to create lasting vacation memories might well rank as the best reason of all.
While the general sentiment in the United State is that property values have taken a nosedive these last few years, Breckenridge, Colorado has remained surprisingly stable showing a positive increase in property values. Most of the property owners have chosen to invest in Breckenridge because they’re passionate about the area and really feel connected, even though most only visit their homes a few weeks per year. Additionally, most property owners in Breckenridge really don’t need to sell their properties if it means taking a large discount. So they just continue to enjoy them and choose not to participate in the panic selling that’s going on in other areas of the country.
While overall sales volume may be down in Breckenridge, visitors are still coming in full force. Owners of Breckenridge vacation rental properties are enjoying the cash flow created by the continuous stream of guests vacationing throughout the entire year. Yes, there is more to Breckenridge than just skiing. The summer is packed with events that continue to lure visitors and they all need a place to stay.
On the other hand, being successful as a vacation property owner certainly requires more work than just collecting rent checks and letting the property appreciate over time. The real work comes in marketing and managing the property as a short-term rental.
To keep up with the competition in the highly competitive market, the property needs as much exposure to potential guests as possible. This is achieved by advertising on local, national and international levels. Today approximately 83% of travel research is done over the Internet. Thus having a powerful presence on the web is critical. This can take the form of a simple listing on a vacation rental website to “pay-per-click” advertising, daily blogging, social media networks, referral relationships with others in the industry, and the list goes on.
However, to compete successfully it’s nearly impossible for an individual who owns just one property to get the maximum performance out of the property because of the time and management commitment that goes into each home.
Working with a good vacation rental property manager is an absolute must, particularly one that has a strong Internet marketing and booking process. To find out more about the benefits of professionally managing your vacation rental home, please contact Mark Gossman at Ten Peaks Lodging. Maximizing your investment is the key to a successful return and certainly makes the whole property more enjoyable for your time as the owner.
No Comments . read more
June 15th, 2009
Even with the current economic concerns, travel this summer to Breckenridge is expected to be up 1 or 2 percent over last year. However, spending is likely to be down as the current economic conditions keep people a little more conservative in their spending.
Breckenridge has such a diverse group of summer activities going on this year that it’s sure to attract a wide audience.
While last minute plans seem to be the preferred method of booking Breckenridge Lodging, don’t sacrifice quality when looking for that great last minute deal on a place to stay.
At Ten Peaks Lodging you’ll find a great selection of hand-picked properties around the town of Breckenridge. These luxury vacation rentals have been personally selected and inspected by the owners of Ten Peaks Lodging in Breckenridge for their location and amenities. Families or large groups will find that staying in a luxury vacation rental home can be more cost effective and provide space as well as all the comforts of home.
Be sure to check out all the events and places to dine at www.tenpeaks.com
No Comments . read more
May 29th, 2009
Should buyers use a real estate professional? Of course, the answer is apparent to just about anyone who’s tried the buying process on their own. But there are still uninitiated, young buyers who may ask themselves whether they should even work with a real estate professional.
If you’re questioning the value of using a real estate professional during the buying process, ask yourself some in-depth questions…and be honest with your answers.
• How well do I know the area where I’m looking to buy?
• How strong are my negotiation skills?
• How knowledgeable am I of local home values, taxes, utility info, and school data?
• How many times have I gone through the home-buying process? Twice? Ten times? Thirty times?
• How important to me is a smooth closing?
• How much free time do I have, and can I dedicate all of my efforts to this?
More ambitious buyers who choose to work extra hard can find out short, simple answers to some common questions. But as this report on whether buyers should use a real estate professional reminds us, it takes a full-time person within the field to be able to give credible, detailed, personalized answers.
Indications show that happy buyers are usually those who choose to work with real estate professionals rather than going it alone. And there are a variety of reasons. From ease-of-buying to added peace of mind after the closing, using a real estate professional, such as a Buyer’s Representative, just plain makes sense.
No Comments . read more
May 26th, 2009
News about the US economy is almost always accompanied by news about home mortgages. Rarely, though, do you hear about the commercial real estate market and commercial mortgages.
In addition to declining sales, increased vacancies, and forced contract re-negotiations, the commercial real estate market is facing challenges regarding commercial mortgage delinquencies – just as the home real estate market has.
While commercial mortgage delinquencies are significantly lower than home mortgage delinquencies, they are rising. Just how much are they rising?
Check out this article from Realtor.org for the figures:
Commentary: Commercial Real Estate Faces Threat from CMBS Delinquencies
This article further details how rising commercial mortgage delinquencies lead to further danger even for well-performing properties because of the way these ventures are financed. Just check out the recent story of General Growth Properties, Inc. declaring bankruptcy, impacting over 150 of their well-performing retail properties. (Read more about General Growth Properties in this Wall Street Journal article.)
No Comments . read more
May 11th, 2009
Looking for a way to gain that competitive edge in investment real estate?
Try a real estate investment club. Regardless of your level of experience in investment real estate, these networking opportunities can be a valuable asset to advance your career.
No Comments . read more
May 6th, 2009
The commercial real estate industry, like any other, is no stranger to the struggles of business during the US economic downturn.
As detailed in our last blog post, “Are We in the Third or Fifth Inning of the Commercial Real Estate Game?”, the economy’s impact on commercial real estate is twofold. First, everyone has less money to spend. But, second, businesses are laying off employees. And fewer employees means a decreased demand for commercial office space.
No Comments . read more
April 7th, 2009
As the stock market now begins to stabilize, hopes of better times appear to be on the horizon for many of us. However, the commercial real estate market still has a way to go. As reported last week, the number of jobs lost has surpassed 5 million since this recession began. With an outlook of continued pressure throughout 2009 and early 2010, companies will continue to cut back and adjust for survival.
1 Comment . read more
Mark Gossman, Real Estate Broker and Property Manager. Focusing on residential investment real estate and vacation home property management in Breckenridge, Colorado.