A real estate nonprofit based in Evergreen, Colorado has released a guide on buying a secondary home or investment property in the state, and cautions investors to work only with the right agent.
Colorado Exclusive Buyers Agent Association (CEBAA), a real estate nonprofit serving Denver, Boulder, Colorado Springs, and other communities in Colorado, has released a guide on buying second homes and investment properties in the state, including in top resort towns like Breckinridge, Frisco, and Steamboat Springs.
More information can be found at https://homebuyerscolorado.org/colorado-vacation-home-second-homes-ski-resort-living.
The guide details the benefits investors can get from a secondary or vacation home in Colorado’s resort communities or in the towns and cities surrounding them. These benefits include possible long term value appreciation, potential income as rentals, and a ready getaway property.
Colorado has always been a leading winter destination in the United States, with as many as 32 ski resorts operating at the peak of skiing season. The state’s mountainous terrain and rich natural features have also made it a popular outdoor haven all year round. Tourism plays a major role in the state’s economy, contributing over $1 billion in local and state tax revenues, and supporting more than 174,000 jobs.
Investment properties and secondary homes are hot commodities in Colorado. In the past few years, the state’s top cities like Denver, Colorado Springs, Boulder, Fort Collins, and others have been consistent sellers’ markets, where the demand for real estate exceeds the supply.
In a seller’s market, however, buyers are cautioned to tread carefully. According to a spokesperson for CEBAA, “People tend to overbid when there are multiple offers for a property. It’s a great way for sellers to get top dollar on a quick sale.”
CEBAA encourages buyers to seek the guidance of Exclusive Buyers Agents who have a contractual duty to work only for the buyers’ benefits. Unlike listing agents or dual agents, buyers agents are under no obligation to sell specific properties, so they can devote all the time and effort needed to finding the right property and closing the best possible deal for their clients.
CEBAA is a nonprofit organization that connects buyers with Exclusive Buyers Agents throughout Colorado. Interested individuals can simply fill out a form found on their website or call the association to find the right agent specializing in the community they’re interested in.
For more information about CEBAA’s services, go to the URL listed above or call (303) 679-1621.