“Doing something costs something. Doing nothing costs something. And, quite often, doing nothing costs a lot more!”
I love that phrase.
Go here if you are looking for Term Life Insurance
Term life insurance | dkitchell June 17, 2010 | 
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I just caught a real nice brown on the Fork on my first cast. Looks like fishing season is heating up.
If you need Aspen Real Estate or just directions to a good fishing hole give us a call!
McKinley Sales Real Estate 970-927-7676
Uncategorized | dkitchell April 7, 2010 |
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Within the last 6 months 12 homes in Basalt have sold with a price per sq ft between $ 130 – $ 780. Discounting the one off on Riverside for $780 the per square foot average is $275.
Most of these sales were in Basalt proper but this analysis includes the short sale 3 miles up the frying pan on Stackyard. The issue here is days on market several of the recent sold comps were on the market over 500 days. If one takes the perspective of a bank or corporate seller 120 days on market is a long hold time.
Several of these were short sales, REO (bank owned) auctions or otherwise motivated sellers, and it is my belief that there will be more motivated sellers in the Basalt area in the future. Stackyard was on the market for over 600 days. Other distress sales of note particularly include local foreclosure and REO expert Kim McKinley’s sale on two rivers road for $570,000, this was a 2400 Sq ft 3 bedrooms, 3 baths on 6 acres with a 4 car garage that sold to the previous owner for $ 950,000.
Active comps range between 325 and 1000 per sqft, indicating that most sellers in the Basalt market are wildly optimistic in their pricing expectations. McKinley states “We have several foreclosures in Basalt coming to market on within the next 60 to 120 days, the process is lengthy however there will be several on the market by this summer. A new foreclosure coming to market in Emma shortly could be priced to really open some eyes”
With a target hold time of 90 to 120 days on market sold price per square foot on these foreclosures is likely to negatively impact the Basalt Real Estate Market.
A big factor for the Basalt and Carbondale markets is the challenging nature of financing particularly with jumbo loans. With the universe of borrowers shrinking due to tightening guidelines and the dearth of availability of loans over $ 417,000 things don’t look good for either Basalt or Carbondale. It is my prediction that both markets will gradually begin to revolve around what borrowers are required to put down 20% – plus $ 417,000, so I see Basalt, Missouri Heights and Carbondale revolving around the $450,000 to $ 750,000 unless it is an exceptional property or acreage etc.
Markets that will be particularly hard hit (in order of damage) include Aspen Equestrian Estates, Cerise Ranch and Elk Run. There is a recent article in the Wall Street Journal that states virtually anyone who bought between 2004 and 2008 will be in a negative equity situation and I would agree. The bright side is for those with cash or those who could not afford our market previously have an opportunity that may just be a once in a lifetime one!
Drew Kitchell can be reached at 970-379-7777 or by EMAIL his blog is at http://ResortTownBlog.com Kim McKinley can be reached at 970-379-4559 or by EMAIL her website is http://McKinleySalesCO.com
Aspen Forclosures, Basalt Real Estate, Carbondale Real Estate | dkitchell April 3, 2010 |
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Took a good size brown trout (maybe 16″) on the standard prince nymph.
Cold though.
I am seeing an uptick in foreclosure in the Aspen Real Estate market and we are getting ready to market several to include a couple of high profile listings in Aspen proper.
Many, many foreclosures coming up in the Garfield county markets. pretty rough in Eagle as well concentrated in Gypsum.
It will be interesting and I will keep you posted.
Success with Aspen Life Insurance and Aspen Real Estate as well!
Uncategorized | dkitchell March 23, 2010 |
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Outside the office today I had a nice take on a size 14 price nymph. He was fairly active and it was a good fight for his size.
Things are going well for us with Aspen Real Estate and our new office is right on the river so I will keep you posted on all the fishing and the Aspen Foreclosures as well!
Life insurance is picking up and I am doing a lot with Advanced Estate Planning in Colorado and Aspen specifically, but go here if you need Term Life.
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.
Supplemental Executive Retirement Plan | dkitchell February 18, 2010 |
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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.
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.
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
We have had 12-16 inches thusfar so things are looking up. Liking the snowshowing here in the valley…
Skiing | dkitchell January 27, 2010 |
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