Explore the July edition of the Summit County Market Insider, your go-to source for the latest trends in mountain and real estate lifestyle. From real estate market shifts to lifestyle developments, the Summit County Market Insider keeps you informed and ahead of the curve.
In this issue, we feature two timely articles offering valuable insights into the real estate and mountain lifestyle landscape.
First, a Summit Daily article, “Colorado will soon force insurance companies to recognize homeowners’ wildfire mitigation efforts,” highlights a new law aimed at creating transparency in how insurance companies assess wildfire risk.
Next, a piece from Forbes titled “55-Plus Buyers Want Wellness Features And Loved Ones Nearby” explores the preferences and features that consumers aged 55 and older are prioritizing when house hunting.
These stories highlight key trends in mountain real estate as well as consumer behavior, offering valuable insights for homeowners, investors, and mountain enthusiasts alike. Stay tuned for more expert insights from your trusted Market Insider in Summit County.
Lisa Lewis was curious to see what $500,000 worth of wildfire mitigation work in her mountain community might do for her homeowners insurance premium.
Her Summit County neighborhood, situated mere feet from U.S. Forest Service-owned land at the base of the Gore Range, was among the first in the country to implement a fuels reduction project in a protected wilderness area in 2022. By partnering with the county and Forest Service officials, homeowners were able to remove dead pine trees across 28 acres, breaking the path of potential wildfires that could erupt nearby.
Their efforts were recognized with a certificate from Firewise USA, a national program that promotes community-level wildfire mitigation work. But when Lewis tried explaining it to her insurance carrier, they “had no clue what I was talking about.”
“They didn’t even know that what we did actually lowers risk,” said Lewis, who never saw a reduction in her premiums as a result of the work. “It was maddening.”
In mountain communities where the threat of catastrophic wildfires is ever present, homeowners like Lewis have taken steps to limit their exposure. Yet it’s not uncommon for homeowners to say they haven’t seen those risk-reduction efforts lead to lower insurance costs.
The modern 55 and older homebuyer isn’t looking to sit all day on a recliner pondering our end of life options. Longer lifespans, greater health, increased affluence and current sensibilities about aging are transforming the neighborhoods designed for late Boomers and Gen X homebuyers.
“We know the story: the 55-and-older population will grow by 12 million between 2025 and 2033,” notes managing principal of John Burns Research and Consulting firm Ken Perlman in a June 4 insights report. “These aren’t your grandparents’ active adult buyers. They are healthy, wealthy, and tech-savvy.” According to Perlman, these are what this homebuyer is seeking. Does it align with your preferences if you fit into this age group?
“The new 55 plus consumers are seeking a community that gives them a sense of purpose, promotes healthy living, and offers services and amenities without the burden of high maintenance or isolation. The best age-qualified / active adult communities will blend a variety of housing products from ‘forever homes’ to low upkeep, attainable luxury in locations that are proximate to friends and families,” Perlman suggests. Is this what you’re seeking too? After a long search, I found my “forever home” in an all-ages community with numerous wellness features, including walkability to friends, shops and services.
Spread the word.
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SLIFER SMITH & FRAMPTON/VA REAL ESTATE
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Frisco, CO 80443
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Copyright © 2024 Altitude Realtors MLS. The information displayed herein was derived from sources believed to be accurate, but has not been verified by Altitude Realtors MLS. Buyers are cautioned to verify all information to their own satisfaction. This information is exclusively for viewers’ personal, non-commercial use. Any republication or reproduction of the information herein without the express permission of the Altitude Realtors MLS is strictly prohibited. This site is used and paid for by multiple independent companies. The real estate broker cannot require you as a prospective buyer to pre-qualify with or utilize the services of either of the mortgage loan originators. Nor can either of the mortgage load originators require you as a prospective buyer to utilize the services of the real estate broker. August 30, 2024 8:15 PM UTC
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Avon, CO 81620
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