Alex Beach targets Frisco homeowners to buy their houses

In Colorado's Summit County, a significant housing crisis has left many residents struggling to find affordable homes. Recently, Alex Beach, a resident of Frisco, has adopted a unique approach to combat this issue. He sent out postcards to around 150 homeowners in Frisco, appealing to them to sell him their deed-restricted homes. Deed-restricted homes are a specific category of properties that come with limitations on their resale value to maintain affordability for future buyers. Market rate condos in the area typically sell for around $800,000, making them unattainable for many, whereas deed-restricted homes can cost around $320,000. Despite their lower price, deed-restricted homes do come with drawbacks; they can only appreciate a limited amount, making them less appealing to typical real estate investors. For the prospective buyers, however, they offer a pathway to owning a home in a competitive market. To make the task of securing one of these homes even more complicated, there are roughly 1,700 properties and potential buyers often have to win a lottery if they are not directly chosen by the sellers. Alex Beach has set his sights on acquiring one such property and expressed his desire for a stable home in a neighborhood where people can live, work, and raise families together. Local officials recognize the urgency of addressing the housing crisis. Frisco Town Manager Tom Fisher acknowledged that affordable housing is the biggest priority for the town council, which has been in constant discussion about the issue. Efforts are underway to increase the availability of deed-restricted properties, including projects like Nellie's Neighborhood, which will provide 15 homes. Given that many locals are struggling to find suitable housing, Alex Beach's initiative through personal outreach is an effort to create connections that could lead to affordable living options. Ultimately, the housing crisis continues to be a pressing issue in Summit County, where the struggle for moderate-income residents remains a daily challenge. As Alex Beach continues to search for a deed-restricted home to call his own, he is emblematic of the wider population facing similar difficulties in this economically driven environment. His proactive measures could inspire others to adopt innovative solutions in addressing the pressing need for affordable housing options in the area.