Vail-Sandstone Affordable Real Estate

If you are looking for a great investment or affordable ski home in Vail Colorado, here it is:

931 Red Sandstone Road #12 (Aspen Tree Condos) $439,000

This is a completely remodeled 2 bedroom / 1 bath turn-key, furnished ski home. Walk to Lionshead or catch the free Vail Bus just outside of your door. The dues are a reasonable $786 per quarter and include the heat! Assigned parking and 2 large patios. This is a charming, affordable ski home. Check out more photos at: http://www.investinvail.com/

Vail Real Estate Market

Well, Spring time is here....or at least for a day or two. We have not had snow in a week, and the locals are starting to think about moving. Inventory usually explodes about this time of year as many properties that were rented for the prime ski season are offered for sale. The number of listings as of April 22, 2008 in our MLS for residential properties is up to 1426 from around 700 a year ago. This is a good time for buyers to begin to look for investment properties and deals from motivated sellers. Not everyone is willing to negotiate but many sellers are ready and willing to do just that!

February and 2008 YTD Statistics for Vail Real Estate

February real estate statistics show that the total dollar volume of sales in Eagle County (Vail, Beaver Creek areas) is down 18% from last year although still impressive at a figure of $207 million. The majority of sales continue to be in the $1million and under market comprising 53% of all transactions.

The YTD price of a single family home is $1,568,000, and the multi-family home price is averaging $1,590,123. Vacant land prices are averaging $539,456.

The largest number of transactions are occurring in Lionshead, Beaver Creek and Eagle.

The end of April usually bring a large increase in inventory which could out some downward pressure on prices. The summer months are historically some of the strongest in Eagle County real estate, so the next few months should be telling for the markets here.

Vail Real Estate Holding Up

"There are a lot of dead carcasses on the road, and the vultures are out sniffing. This is the cycle of Wall Street. When bubbles crash, you get the value guys who come in and say, ‘This thing is cheap.’"ANDY KESSLER, a former hedge fund manager.

Vail usually sees a supply in the real estate listings at the end of ski season. While some sellers are very motivated to make a deal, the bottom has not fallen out of the market. The falling dollar has made overseas property investments more affordable than ever. The Vail real estate market is seeing particularly strong demand from European buyers riding the wave of the strong euro ($1USD = $1.58 Euro at time of post). The less expensive homes is where the softness is really occurring given that many high-end investors are more insensitive to economic slow downs.

Vail's New Epic Ski Pass

What a treat for skiers everywhere! Vail Resorts announced a new Epic Ski Pass which is an unrestricted season pass for only $579. You can buy it now for $49 down and pay the balance by September or purchase the pass at full price until November 15th, 2008. This is a great value with the cost of a single day ticket approaching $100. Speculation is that this will help the 4th quarter numbers for Vail Resorts and also encourage visitors to come back for more skiing. Enthusiasts may also want to visit Beaver Creek, Heavenly, Keystone or Breckenridge as the Epic Ski pass is valid at all 5 resorts.