THE AMY NAKOS GROUP blog
Summit County Real Estate News & Market Insights
Storm King Mountain Homes Update
We are thrilled to announce that we have closed on three Storm King Mountain Homes units. The new buyers are moving in! We have a one year lease signed for one of the two remaining units and still have one more unit available for an annual lease. Here is a link to the...
Market Trends Q1 2023
How’s the market? Summary: Expect some new properties on the market in the Spring (April to June), but not an abundance of listings. Pricing is softening in certain sectors, especially where STR restrictions are in place, but prices are by no means slashed. Dollar...
Summit County Short Term Rental Update/Editorial by Amy Nakos – March 2, 2023
Well, as we were all aware, the Summit County Board of County Commissioners passed their Short Term Rental restriction ordinances on February 15, 2023. After about 5 hours of comment, with the overwhelming majority of it being against their regulations, they passed it...
Your Loan Options: 8% v 6% – Depends on your lender
There are some major changes in underwriting for Freddie Mac and Fannie Mae that are already starting to create dramatically higher interest rates for some buyers. Before you commit to an 8% interest rate, read this! There are other options. Most residential loans in...
Summit County Softening Market – Anecdotes from the Trenches
Real estate trends are not always obvious. Those of us who work in the field each day notice the anecdotal evidence of trends long before they show up on a larger scale statistical analysis. Having worked in Summit County for almost 20 years, there are some canaries...
Short Term Rental Update – February 2023
The Summit County Board of County Commissioners will be doing their final reading of their STR ordinance on February 15, 2023. There is information in this article on how you can provide comments or participate on that day. Background and Updates The Summit County...
Market Update February 2023
The year 2022 was an unusual one for market conditions. It started off like a fighter jet and quickly switched to a horse and buggy. Or maybe even a turtle, climbing uphill, in the winter. The second half of the year brought annual statistics down 25% in dollar volume...
Short Term Rentals Update January 2023
Short term rentals in Summit County. It’s complicated. And controversial. I have this conversation almost daily with clients and potential clients. Here’s the silver lining: if you want to own a property that can be short term rented, you need to purchase in Keystone,...
Home Watching Service
Many vacation home owners who don’t rent their properties need someone to check in on the property and help take care of it. Working in this market for the last 19 years, I have always felt the need for additional service providers in this area. My real estate...
Market Update January 2023
Download the Land Title Statistics for November 2022 Prices remain relatively strong but activity continues to decline. Year to date November 2022 has dollar volume 26% less than 2021 and number of transactions are down 30% year over year. See Land Title statistics...
Update to “You Could Be Waiting a Long Time for a Summit County Unincorporated STR License.”
Thank you to everyone for the amazing feedback I received on my analysis of wait times for STR licenses in Summit County Unincorporated Neighborhood Zones. With 2022 wrapping up, I updated the numbers and you can see them in the spreadsheet. We used the same...
You Could be Waiting a LONG Time for a Summit County Unincorporated STR License
You could actually be waiting for 4-18 years depending on the location of your property. Background If you are a subscriber to my newsletter or YouTube channel, then you know about the current state of short term rental regulations in unincorporated Summit...