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Carbondale foreclosures? Call McKinley Sales

Given that in the last 6 months only 4 homes sold in Blue Lake, Blue Creek, Cerise Ranch, and Sopris Village combined would indicate that we are not exactly burning up the charts.  I look for most of Carbondale to be at $ 300,000 – $ 500,000 within the next 12 to 24 months and expect to see fairly dire consequences in Aspen Equestrian Estates in particular. RVR and Aspen Glen are next up for grabs but might not get quite as hard hit given their owners tended to be less leveraged with greater liquid assets, but there was a fair amount of spec activity there as well.

The fact remains that there are several hundred foreclosures teed up in Garfield County and they take a long time to get through the system.  My primary concern is that the remaining folks who purchased their homes for double what they are worth may scratch thier heads and say to themselves ” why am I paying an $800,000 note on a property that is worth maybe $499,000 even if I have the ability to do so?” 

This is a good question they ask, it is also the precursor to the domino effect.

Predictions for Basalt are from $400,000 to $650,ooo for a nice home in Basalt Proper.  Kim McKinley Owner / Broker of McKinley Sales recently sold a dated but decent sized home with a 4 car garage on six + acres just upvalley from Silverado for $570,000.  The home last sold for over $ 950,000.

Riverside is headed for a big bang up as there are many speculative owners which made money primarily from the price of real estate, Elk Run is most likely in the same shape, and in my estimation 450K to 650K t is where it should be.

The problem is anything that is over 417K is virtually impossible to get a loan on, and given this situation I foresee most markets where financing is common gravitating around 417K plus what people can put down and qualify for income wise.  Given that most are self employed in markets like this and buyers usually write off all profits thus making themselves unlendable.

Aspen remains an enigma I will address at a later time, but it will feel the sting in the next 24 to 48 months as well which will say to me buyers market!

Call McKinley Sales  they have over 30 Bank Owned listings all over the Western Slope of Colorado and are your go to for Foreclosure experience in the Roaring Fork Valley.

Call or EMAIL Kim McKinley at 970-379-4559 with McKinley Sales.

“Golden Handcuffs” – Advanced financial tools.

The Supplemental Executive Retirement Plan is the perfect tool to apply ”Golden Handcuffs” to your key employees…

If you are looking for a plan that motivates attracts and most importantly RETAINS your key eemployees you should consider an SERP…

With this plan the employer funds a special type of life insurance policy for an employee.  Employee does not have access to the death benefit or cash value for a certain set period of time, during which if the employee was to pass away or leave the employer has insurance on his life to assist with procurement of another key employee or has access to the cash value.  Another great benefit is that employer IS allowed to discriminate with this plan.

After the set period of time (the period of  time which is the ‘golden handcuffs’) the employee can take an income stream off of the cash value providing a valuable tool with which to motivate.  Additionally the employees beneficiaries will have the death benefit for their advantage as well so this program is a win win.

For any life insurance needs in Aspen Colorado call Drew Kitchell at 970-379-7777 or Email with Devlin Financial Services to discuss.

Life Insurance in Aspen Colorado

For the best rates, best carriers and best customer service call Drew Kitchell with Devlin Financial Services at 970-379-7777 or by Email.  Specializing in advanced planning, Key Man, Split Dollar, 412 I,  and other life and insured products in the Aspen Colorado area.

If you need Term Life Insurance in Colorado or just need a quote check out the link.

Keep in mind that health underwriting will apply.

Individual ILIT’s are a poor choice in most cases

If you have counsel draft an ILIT make sure that if you wish to use it for a joint or survivorship policy in the future that the ILIT is amendable.  Or better yet do not draft an ILIT for an individual life policy if at all possible…

Joint life is ALWAYS more efficient premium wise than individual so it always amazes me when I see an ILIT drafted for an individual especially in cases where the insured is married and the goal of said ILIT is Wealth Transfer Planning.

In any case if you need advanced planning or have any life insurance needs in Aspen call Drew Kitchell with Devlin Financial Services.  970-379-7777.

Aspen Area Foreclosures

Look for many foreclosures coming in the Roaring Fork Valley.  Currently Kim McKinley with McKinley Sales is listing a majority of these approaching 25 in the Roaring Fork Valley with REO listings in Vail, Eagle, Crested Butte and Grand County as well.

Call her if you need the inside scoop on foreclosures at 970-379-4559 or you can check Aspen Foreclosures

Life Insurance in Aspen Colorado

I wanted to apprise you all of the tools and strategies that we are using with various types of Life Insurance and Insured products to assist clients in both high tax brackets as well as clients with a high net worth who are subject to the Estate Tax.

1. Advanced Estate Planning with Guaranteed Universal Life Insurance.  We broker through the largest General Agent in the nation to submit our cases.  Therefore we get preferential underwriting, in addition to the most competitive pricing.  We specialize in concierge case design and management with large cases.  Our commitment to you is to deliver top notch customer service that we know your clients demand.

2. Given a client is in good health we can potentially offer substantial decreases in premiums and or increases in death benefit with a review of policies that were put inforce prior to 2001.  For example an insured with 1MM in Death Benefit may get 2MM of coverage for the same premiums.  IRR’s for insured’s in good health can be quite good in many cases.

3. Clients in high tax brackets may be able to take advantage of 412 I Fixed Defined Benefit plans that allow the MAXIMUM PRETAX CONTRIBUTIONS of any qualified plan, potentially as large as $300,000 per yr, in contrast to an IRA maximum of $6000.

4. Clients that have maxed out contributions to qualified plans or who have employees may be able to use other insured products to great advantage as well.

5. Key Man, Buy Sell, Split Dollar and “Golden Handcuff” Agreements.

6. Planned Giving, Planned Gifting and Charitable Annuities.

7. Fixed and Indexed annuities which can offer the peace of mind of a guaranteed income stream.

Let us know how we can help with your case design or any other questions about life insurance you may have.

Call Drew Kitchell, – Devlin Financial Services  Ph # 970-925-9090

Advanced Estate Planning – Life Brokerage – Insurance Solutions in Aspen Colorado

Colorado REO agent in the roaring fork valley

If you are looking for Aspen foreclosures or bank owned properties in the Roaring Fork you need to go with the person who knows distressed properties and lists a majority of the foreclosures here.

Call Kim McKinley with McKinley Sales at 970-379-4559.  She knows how the Colorado Foreclosure process works and lists various properties for almost every bank.  Being an REO agent in Colorado since 1995 has given her a unique insight into the bank owned and foreclosure world.

Her Aspen Foreclosure listings number as high as 25 with over 35 lisitngs in the entirity of western colorado.  She is a member of:

The Aspen Board of Realtors, The Vail Board of Realtors, Gunnison County Board of Realtors and Grand County Board of Realtors as well.  She has been a realtor since 1992 and has closed an average of as many as 8 transactions a month.

Snow finally!

We have had 12-16 inches thusfar so things are looking up.  Liking the snowshowing here in the valley…

Aspen Advanced Estate Planning

If advanced estate planning is your need call Drew Kitchell with Devlin Financial Services.

970-925-9090

SNOW in Aspen!!

Finally some good snow.

The skiing has been not so great but the fishing has been good.   I caught a couple on prince nymphs with midge droppers.  Light Tippet and fairly small dropper but like a 14 prince.

Snow just in time for theX games a solid 8+ inches even down valley.