Real Estate Market Stats for the Vail Valley

Eagle County Residential Stats

    # of Active Listings (as of 2/10/12): 1152

    Total # of Sales in January 2012: 59

In Vail Village and Lionshead, there are 223 properties listed with just 29 sales in the last 6 months producing a 46+ 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/

Yahoo Blurb on Decreasing Home Prices

Home sales data released last Thursday showed sales sdeclinign 2.2% in December vs. November. 2011 was the worst year on record for new home sales in the U.S.. Prices declined 12.8% in the last year overall.

The bottom of the Vail real estate market seems to be firming up as there are plenty of renters who would like to own for less than what they currently pay in rent. The $250,000 and under market is doing very well with strong demand and even multiple offer situations. The rest of the market is not faring so well, unfortunately.

Wath this video for more information. http://finance.yahoo.com/blogs/breakout/don-t-buy-home-home-builder-stocks-matter-190758173.html

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.

The Extended Homebuyer Tax Credit - Basics for Everyone

The first time homebuyer tax credit of $8000 has been extended to buyers who put a home under contract to purchase by April 30, 2010.

For a complete summary of information including necessary tax filing information, please visit the following website:

http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

There is also a good chance that teh credits could be extended a third time! I'll keep you posted.

Eagle County/Vail Valley June 2008 Real Estate Numbers

The June numbers are in courtesy of Land Title in Vail http://www.ltgc.com/home/

Year to date, Eagle County topped the $1 billion mark in real estate sales and has an overall average sales price of $1,345,476. Lionshead has been the main contributor thus far in 2008 with 68 transactions and more than $228 million in dollar volume. The primary reason for this is the completion and closing of the Arrabelle project in the newly constructed LionsHead arcade. http://investinvail.com/listing_detail.php?property_id=19

Beaver Creek has the second highest dollar volume year to date and seems to only be gaining in popularity as the construction in Vail continues.

June highlights:
There were 96 multifamily units that sold for an average price of $1,217,563
There were 8 transactions over $4 million
Lionshead had the highest dollar volume, $68,860,000, with an average sales price of $4,050,588

Vail's Strong Rental Housing Market

The rental market in our area and other resort locations is very strong with rapidly rising rental rates. We have seen rents increase over 20% in the last two years in the Vail Valley. The woes and worries in the mortgage market have made it more difficult for lower end or first time home buyers to purchase real estate. As a result of this, more people are currently renting homes which is creating strong demand. The supply of rental housing in resort areas has diminished precipitously as the price of real estate has escalated so quickly in the last few years. With starter homes in the $400,000s, who can afford to buy right now? Affordable housing continues to be the "hot topic" for many resort areas where the number of service jobs is increasing but the availability of rental housing is just not sufficient. The average price for a lower-end rental is $700-$900 per bedroom. Being on the bus route and accepting pets are sales points which will likely raise your rental rates further.

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 April 2008 Housing Statistics

According to Land Title of Vail's monthly analysis of the housing market, April sales were down to just 59% of the April 2007 sales volume. April saw 117 total transactions. The summer is typically a strong season for home sellers, so everyone will anxiously be awaiting the most recent statistics. The average price of a single family home in the Vail Valley is now $1.6mm and the average price of a condo/townhouse is just over $1mm. Now is a great time for buyers to be searching for DEALS!