Eagle County Residential Sales: February 2012

Eagle County Residential Stats
# of Active Listings (as of 3/11/12): 1188
Total Residential Sales February 2012: 63

In Vail Village and Lionshead, there are 224 properties listed with just 34 sales in the last 6 months producing a 39+ month inventory of properties in these two areas.

SELL NOW or sell for less later.

Contact Sondra Slappey Today for a Market Analysis of Your Home.

     Sondra@InvestInVail.com      970-376-8000

Visit my website for market information and all available properties in the Vail Valley and Eagle County:  http://www.investinvail.net/mimarket/zip/81657/

Vail Real Estate Update

Isn’t is nice when we can all agree on something? Suffice it safe to say that 2011 went out with a whimper in the Vail real estate market, especially for the 1254 active sellers currently trying to find buyers for their properties. In total, 886 residential properties (listed in the MLS) sold in the Vail Valley in 2011. This is almost identi-

cal to the number of 2010 sales. The difference is that prices are down another 15% or more from 2010 and are likely to go down further.....there's alot more to this story.

Chateau de Mon Reve - Top Ten Ski Homes - See Article in the Vail Daily

This home was open to the public this weekend, and many interested buyers came to see what one of the "Top Ten Ski Homes " looks like. Here are quotes from the visitors:

-  Impressive and intimate
-  Thoughtfuly designed
-  Caters to every luxury
-  The best master bath I have ever seen
-  Wow - what a home office
-  The most accessible ski-in home I've ever seen
-  Incredible detail
-  Architecturally stunning

These are just a few of the comments from the past weekend. This is truly one of the most refined and impressive homes available in the Rocky Mountains.  Please call to schedule your private tour.

Please see the Vail Daily review by clicking the link above.

Vail Property Inventory and Parking for Fancy Cars

Every day I look at the Vail MLS and watch what is going on in our valley in the real estate markets - that's my job. Lately, I've been paying more attention to what is actually going "under contract" and what is actually "selling" than the hot new listings. It is not uncommon on any given day to see 30 different listings with drastic price reductions. Often, this is accompanied by an email from the listing agent who points out that the price has been reduced another $37,000 on a $2 million dollar listing - BIG DEAL is what I say. Just today, I saw prices being reduced by up to 20%! The Vail Valley currently has about 2051 active listings for property (commercial, residential and land). In January of this year, 22 deals closed and 32 transactions closed in February. My math figures that we have a 76 month supply of inventory or just over 6 years. So, I think the sellers need to get real and offer something unique. This could include a great property at a great price, owner financing or other innovative incentives. By the way, a Founders garage parking space in Vail Village just closed today for $250,000, so people are still spending money in Vail.

1st Time Homebuyer Tax Credit

Last fall, the Federal Government introduced a financial incentive to prospective first-time homebuyers — an income tax credit of up to $7,500. The rules were simple: you must have been a first-time homebuyer (as defined by not owning a home in the previous three years) and you met certain income restrictions.
The new $8,000 tax credit is available to those who buy between January 1, 2009 and December 1, 2009. It’s not a deduction, it’s an actual credit. Unlike the $7,500 first-time homebuyer tax credit introduced last summer; this does not need to be repaid.
First timers who qualify can make no more than $75,000 in adjusted gross income if they’re single or $150,000 if filing jointly. The maximum tax credit is $8,000 or 10 percent of the sales price of the home, whichever is less. Three years residence in the property are required. As always, check with your accountant for details and be sure to submit IRS form 5405 when you file your taxes.

Time to Buy Real Estate in the Vail Valley

If you are considering "pulling the trigger" in the Vail real estate market, the time has come! July and August have been very strong months. If you try to time the market just right and wait for the "bottom", chances are you'll miss the opportunity. How lucky have you been at timing the stock market? There are deals to be had, particularly in the markets where supply is looming, like Singletree. As always. well priced homes that show well and are marketed properly will continue to sell fairly quickly. Remember that historically, since 1990, homeowners have received an average of 4.6% on the national level. Anyone here knows we've fared substantially better. Also, don't forget about the tax implications of owning primary or investment homes. Once you figure in the lack of capital gains and the depreciation and expense factors on investment property, your returns can go up significantly. If you want more statistics, speak up!

Eagle Vail Real Estate

The Eagle-Vail neighborhood in the Vail Valley has it all. A diverse community with approximately 1500 residences, Eagle-Vail is conveniently located between Beaver Creek and Vail resorts. Enjoy the award-winning public 18 hole golf course http://www.eaglevailgolfclub.com/golf/proto/eaglevailgolfclub/ , the pool , the Par 3 golf course, tennis facility and the numerous hiking trails and neighborhood parks. Prices range from $400,000 to over $3 million dollars. Many homes are located on the golf course with lovely views. As a local resident of this community, I can help you find a great residence or vacation home here in the wonderful neighborhood of Eagle Vail. Our annual dues for all of these amenities and more is $100! If you are looking for an experienced realtor to sell your property, you have found the right person for the job. Call for a free listing consultation or to find out what your home is worth and Visit my website to search for property in Eagle Vail at http://www.investinvail.com/