I applaud the Town of Breckenridge for filing suit agains a couple of homeowners who bought as a second home a house in a neighborhood specifically dedicated as affordable housing for locals. While most second homeowners, and many of us who live here, reap the awards of homeownership in this mecca of property appreciation, thousands of locals who service our ski resorts cannot afford to buy a home. In fact, oftentimes, in order to just pay the rent, they must double-bunk - put more (at times many more) in a home than the home was built for. It's a perennial problem. In fact, there have been times in the past where we have been as many as 1000 housing units short of the number needed to house our winter workforce. And all of our communities have been wrestling with how to deal with it for years. So, one of the requirements imposed on developers of nearly every project is that they dedicate a certain number of the units to locals who fall within certain (lower) income guidelines and who can prove they work here at least 30 hours a week. In other cases, developers build entire communities designed for locals. This is the case in the Wellington Neighborhood in Breckenridge. I've sold a few homes there to locals who were pleasantly surprised that they could actually get into a nice home. Generally, appreciation is also capped on locals' housing, so they cannot take advantage of double-digit appreciatioin when it occurs. But, they can add garages and certain updates and take advantage of the increased value created by those amenities. So, it is distressing to find anyone who can afford, not only their primary home, but a second or a third, trying to beat the rules by sliding into a locals-dedicated home. I have received calls from people who wanted to do that. If I have been unable to convince them that they can only buy a "market" home, I have refused to work with them. So, take a look at how Breckenridge is dealing with this homeowner in this new court case. =============================== If you have an interest in purchasing property in Summit County, please visit our website. All the property listings are there. When you live or visit here, you will know "Snow Place Like Home". | 
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