Vail Real Estate Not Looking Bright

The Vail real estate market continues to trend downward with very few buyers and a large number of sellers. Sellers are having to compete with the ever growing inventory of foreclosure and short sale properties on the market. While these distressed properties uised to make up only a tiny portion of the luxury market, those numbers continue to grow. As the Vail valley enters one of the busier selling seasons of the year, the absorption rate of the current supply will help predict the winter and summer 2012 markets. With rental rates down, construction almost at a halt and very demanding buyers, I am predicting another 10-20% decline in prices. The truth hurts but there, I said it.