Vail Real Estate Supply and Demand in Vail Village and Lionshead

As of December 2011, there were 232 active listings in Vail Village and Lionshead with 72 properties selling in 2011. That suggests a 39 month supply of inventory. Here are inventory numbers for some Vail Valley locations.

Vail Village and Lionshead - 39 months of supply

Beaver Creek, Bachelor's Gulch & Arrowhead - 25 months of supply

Eagle Vail and Avon - 13 month supply of homes

Edwards - 14 month supply of homes

Eagle - 10 month supply of homes

Gypsum - 7 month supply

The point being that there must be continued decline in prices in order to bring our luxury markets back into equilibrium. We still have more sellers than buyers.

Getting Excited about Vail Real Estate

Steals and Deals! Check out our VAIL / BEAVER CREEK HOT LIST which features only properties that I would sell to my mother.

I am adding a Sunridge property to the list because:
     1. It is a short sale so who knows how low it could be obtained.
     2. You need not lift a finger as the remodel is IMMACULATE.
     3. This will always be a wonderful rental property.
     4. This is so nice you could live in it and Like it!
     5. As always, this is right across from the Beaver Creek parking lots.

 
http://www.investinvail.com/hot_list.php

Call me for the scoop!

Commentary on Vail Real Estate September Statistics

The Vail valley real estate market saw a nice uptick in business in the later part of the summer and into the fall with 89 closings valley wide in September. As expected during a recession or depression or whatever you want to call this cycle, the majority of activity continues to be in the under $500,000 price range. Because there are more, lower priced listings in the Eagle and Gypsum areas, those markets continue to see somewhat brisk sales activity. Short sales and foreclosures still dominate the down valley markets and will continue to do so for quite some time. Luxury buyers are striking bargains in the resort areas as most sellers are highly motivated to make deals. Regardless of whether or not we are at the bottom, it is still a good time to buy in this valley. Reservations are looking very strong for the ski season which is a good indicator that Vail is likely to have a strong winter season.

September Vail Real Estate Statistics

Total Residential Sales in September: 89					Number of Active Listings: 1302
Area Highlights			# transactions		avg. sales price		$Avg price/sf
East Vail			3		709,500		$473
Vail Village			1		950,000		$1051
Lionshead *			2		3,077,500		$1370
W. Vail N&S			4		597,250		$297
Eagle Vail			5		444,430		$214
Avon			6		361500		$269
Beaver Creek			6		1,021,667		$550
Arrowhead			2		3,962,500		$581
Singletree			3		1,024,000		$271
Homestead			4		544,050		$187
Eagle Ranch			6		479,583		$153
Eagle			7		281,768		$147
Gypsum			14		223,064		$101
* both sales at the Ritz Carlton Residences

Vail Foreclosures and Short Sales

The Colorado 30 day delinquency rate on home mortgages is between 2-3%. Across the country, 12.87% of mortgage loans are 30+ days delinquent for a total of 16.3 million households BEHIND ON MORTGAGE PAYMENTS. Florida leads the nation with a 14.4% delinquency rate. Unfortunately, there is a large amount of "Shadow Inventory," which are homes that will hit the market for sale after they go through the foreclosure process and become bank-owned. As far as how this will affect our local Vail Real Estate market, we too will see shadow inventory but most noticeably in the lower price points. Our Vail and Beaver Creek real estate inventory is still very top-heavy which continues to push prices lower and will for some time to come.

REALTOR® Magazine-Daily News-10 Home Features Buyers Want

REALTOR® Magazine-Daily News-10 Home Features Buyers Want

How do you spell RELIEF?...... FNMA - do you hold my loan?

FNMA (Fannie Mae) announced a new program last week aimed at helping home owners stay in their homes. FNMA announced the D4L (deed for lease) program which may allow homeowners or renters to stay in their homes by signing a 12-month lease and turning the deed over to FNMA. Second liens need to be forgiven and the rent payments can't exceed more than 31% of the family's gross income. This program is designed for people who do not qualify for loan modification and are facing foreclosure.

How do you tell if your loan is owned by FNMA (Fannie Mae) or FHLMC (Freddie Mac)?
Check these sites:

http://loanlookup.fanniemae.com

https://ww3.freddiemac.com/corporate/

Buying Opportunity in Vail - Is it Time to Buy?

The Vail Valley real estate market is actually seeing some foreclosures and not just in the time share market. Upscale neighborhoods that were thought to be immune to the national housing disaster are showing signs of weakness. The average equity in a home in the United States has fallen to 46%, down from 60% last year. The number could go lower if housing values continue to fall in Vail and in the rest of the country. "Most mortgages made between the fall of 2004 and the fall of 2007, the majority of them are underwater," says Mark Zandi, chief economist at Moody's. If you'd like to link to the Eagle County website for foreclosure information, visit
http://www.eaglecounty.us/publicTrustee/ If you are experiencing difficulty and fear foreclosure is eminent, please contact a qualified real estate professional and call the Colorado Foreclosure Prevention Hot line at 1-877-601-HOPE (4673). If you have interest in purchasing foreclosed homes, give me a call at 970-376-8000.

Vail Real Estate Market Under Pressure

Why It Matters How Low your neighbors Go…………………….

Hardly a day goes by when you don’t see another story about the sad state of the nation’s real estate markets. From major newspapers such as the New York Times and the Wall Street Journal to your local small town rag, everyone seems to be lamenting the current and future state of the real estate markets. Leaving behind the arguments and blame for our current situation, let’s assess the effect that your neighbors have on you when they get ready to sell their home.

Let’s say that in Anytown USA there are 3 homes of similar size, location and condition available for $300,000 in the same neighborhood. Seller A is not highly motivated to sell but is thinking of a bigger home for the family, Seller B is getting transferred and needs to sell but is not desperate and Seller C has racked up $35,000 in credit card debt and is about to enter foreclosure because they can’t make the payments on the first and second mortgages on their home and keep up with the mounting car payments and credit card debt. Seller C decides to list their home at $285,000 to be sure that if an interested buyer enters the neighborhood, Seller C’s home will be the first to go. Three months go by and none of the sellers have had any offers, and Seller C is getting panicky about making payments on next months bills. Seller C drops their price to $250,000 and feels confident the property will move quickly. Another month goes by and still the home has not received any offers. Seller C misses a car payment and is late on the mortgage and then decides to lower the price to $225,000 in hope of a cash buyer and a quick close. Two weeks go by and finally a buyer appears. The buyer offer $199,000 and the seller accepts the offer out of desperation. How does this affect the value of the properties of Sellers A and B? Even if they do procure buyers at or near their current list price of $300,000, the property will likely not appraise since the last sale in the neighborhood was for $199,000. It can be said that there were extreme circumstances surrounding the sale of Seller C’s home but the negative pressure it placed on the market and the amount of time that it took to sell now affects everyone in the neighborhood who is looking to sell. If a foreclosure is eminent, the picture only looks worse. Check out Eagle County Public Trustee’s website for the latest foreclosure information in the county at http://www.eaglecounty.us/publicTrustee/foreclosure.cfm.


There is more to selling a home than the price, although most professionals would argue that price is the most important factor. For information about how to possibly avoid the foreclosure process, please call me or visit my website at http://www.investinvail.com/