Buyers love views!
Want to know something that has been bugging me? It’s just three words. What three words? Location, location, location. These words come from the old, and I mean old joke. Question: "In establishing the value of a house, what are the three most important factors?" Answer: "Location, location, location."
However, this not always true. Real estate varies dramatically from market to market. There is no dispute the location of a property is important; however, it is not, in Summit County, the trump card. For most buyers, views trump location. In other words, buyers are willing to go out of their way for views.
In this market, it is critical that I define more clearly what I mean when I say “views”. I am talking about views that are described with phrases like, “In Your Face,” “Killer” and simply “Wow.” These are the ones that for many buyers trump location. I have said it before and I will say it again, “Views sell.” That being said, do stellar views generate a premium price? Sometimes around 10% or so. However, in the current market, what seems to be even more important is the properties with the best views sell. It is rare for them to languish. Let’s get right into the examples.
Best views of Lake Dillon
Point Dillon is one of the very rare complexes that is right on the Lake with nothing obstructing the view what-so-ever. It is such a great property complex that Unit 202 is the first condo to come on the market in five years. There have been a couple of sales in those years between related parties, but none placed on the open market. Wow. Sounds more like a membership to a fancy golf course like Augusta National Golf Course. Why? The views. In addition, the complex has underground parking, an elevator, a pool and a really neat hot tub. Price tag is $549,000 for two beds and baths.
View from Point Dillon Condo, Photo Credit Bob Bloch
Cheapest lot with a view in Breckenridge
There are plenty of lots for sale all over the county right now. Yes plenty. But only a handful these days has the kind of views I have been talking about. And just about every one of these lots is expensive (over $300,000). However, there is one that is darn right cheap at an asking price of $229,000. Back in the boom days the asking price was $499,000! This lot is located at 643 Highfield Trail in The Highlands of Breckenridge.
Market Insight for the week
Buyers: Leave pre-conceived notions behind so that you are open to hear the expertise from your local full-time Realtor. Combine Summit County knowledge with your experience and you can’t go wrong.
Sellers: If your property has the sort of views I am talking about, make sure the marketing plan your Realtor implements features the views. Don’t allow a photo of the exterior of your property to be the featured picture. Demand that photos like the ones in this article are used.
Daniel has earned the national Quality Service Certified® Platinum award, recognition of 100% client satisfaction. He is a Broker Associate at Resort Brokers Real Estate, Breckenridge. Call him at (970) 393-3300. Drop him a line at Daniel@YourMountainBroker.com