Letter to the Editor: Breckenridge’s Buy Back program is hard on locals wanting homes
As the saying goes, “no good deed goes unpunished”.
In a recent Summit Daily News article, the town of Breckenridge announced it would be putting eight newly deed restricted properties up for sale for locals to buy.
While I appreciate the town of Breckenridge recognizing we have a long-term local housing problem, the town’s governmental influence and bureaucratic solution is having unintended consequences for a segment of long-time, hardworking locals who believe in the American dream.
We all know that mountain real estate is a wonderful investment, so why are locals who want to put sweat equity into a “market rate” home for their family losing their chance to be a homeowner to the town of Breckenridge, who is submitting all cash offers? Shame on you town of Breckenridge.
I have worked hard, been an active member of the community and saved pennies to one day own in this amazing community. I have been actively looking for a “market rate” home in Breckenridge and have been constantly disappointed, not by investors or second-home owners, but by the town of Breckenridge, who within less than 24 hours of properties being listed for sale submits purchase contracts that are all cash and at least 10% above the list price.
How can a local compete when the town of Breckenridge and the listing agents aren’t even giving local buyers a chance to see these homes in person or put in an offer before the town of Breckenridge is buying them up? Then the town of Breckenridge is slapping these properties with governmental restrictions, all while directly driving up market rates.
I propose the town of Breckenridge institutes a reasonable waiting period so that hard-working locals who have full-time and demanding jobs get a chance to see and submit contracts on “market rate” properties prior to the town of Breckenridge governmental money swooping in and stealing the American dream.
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