June 2012 Eagle County Sold Real Estate Stats

The Vail valley real estate market is alive and well, especially in the under $1 million price range and the high-end luxury market. We are seeing multiple offers on well-priced, attractive properties. Summer has proven to be very active with many buyers finally feeling that the bottom is either here or very close. Inventory levels have remained lower than expected also helping to strengthen prices in many markets. Lending standards are still very tight and income-oriented, but rates are better than ever.

For more information on real estate sales in the Vail Valley and Eagle County, Colorado, please contact Sondra Slappey at Sondra@InvestInVail.com or search active listings on Sondra's website www.InvestInVail.net.

Residential Sales 4th Quarter 2011

To get most recent market information, at anytime, please go to my website and enter the zip code you want more information about:  http://www.investinvail.net/mimarket/zip/81657/

Vail Real Estate Affordable Housing Update

On April 22, 2008, Eagle County Commissioners unanimously approved new housing guidelines which will require developers to build affordable housing units at the time of construction. According to The Vail Daily article April 23, 2008, the new housing guidelines wrap up are as follows:

For residential projects of more than 5 homes, developers must do one of the following:
* 35 % of the total square footage of the project must be work-force housing
* 30% of the project must be work-force housing, and another 10% owned by local residents which can be sold at market rate.
*30% of the project must be affordable housing, and all market-rate homes would be sold with an added 1.5% transfer fee which would go toward the county's affordable-housing funds.
*25% of the project must be affordable housing, 10% locally owned but sold at market rate, and the 1.5% transfer fee applies to all sales.

For commercial projects, developers must build enough work-force housing to provide for all of the jobs generated earning less than 140% of the average median income which equates to about 715sf of affordable housing for every 1,000sf of commercial space.

For mixed use projects, developers must choose between residential or commercial projects, whichever option produces more housing.