The properties below are those which are currently on the market and have some sort of deed restriction in place.
Summit County is a resort community in which average single family home prices are out of reach for many people who work in the community. Affordable housing (defined by national standards is housing that takes no more than 30% of a household’s monthly gross income) is a necessity for the local workforce, yet it’s hard to come by in Summit County.
In order to retain families and preserve a genuine community feel in these expensive resort communities, it’s essential to make it possible for locals to live in the community they work in. Supporting the local workforce is essential to the success of businesses and help contribute to the overall high-quality experience for visitors. Finding an affordable house for sale in Summit County Colorado is important to our local families. Non deed restricted homes for sale are often out of reach for many.
One way that location organizations and developers have worked together to create more affordable housing units for individuals and families who work in the community is through deed restricted units and deed restricted neighborhoods.
Deed restrictions are stipulations written into a property’s deed or recorded as a restrictive covenant that outlines conditions and/or restrictions for the property. They are private agreements, listed in the deed itself, that restrict the use of the real estate property in some specific way. Deed restricted houses for sale in Summit County - and any affordable housing units, are in high demand and tend to go very quickly. If you qualify for a deed restricted property, Contact me to be notified as soon as a property that meets your needs hits the market.
In Summit County, many deed restrictions are designed to further the goals of affordable housing and workforce housing. They may include any of the following, all of the following, or a combination of the following:
**NOTE- All Deed Restrictions are Different. If you have any questions regarding your deed restriction, contact the Housing Department.
Deed Restrictions for various projects are listed on here.
In order to keep prices low for many years, deed restricted properties often have limitations on the dollar amount of capital improvements that can be added to the sales prices, and they often have appreciation caps, as well.
The Summit Combined Housing Authority is a great resource for affordable housing. Here you can learn about lending, renting, down payment assistance and other educational opportunities for homebuyers.