Sellers are VERY motivated!!
Way below appraisal
Sellers are VERY motivated!!
Way below appraisal
The latest county-wide real estate appraisal found the total market value of Eagle County real estate jumped 12.9 percent, with residential value jumping 11.4 percent compared to the last appraisal numbers from 2015. According to Eagle County Assessor Mark Chapin, our real estate values are back to where we were pre-recession. Our market has recovered.
Residential property values are around $1 billion more than the pre-recession peak, with residential property valued at $31.24 billion in 2009 and $32.39 billion in 2017. The biggest increases are in Gypsum and Eagle where the affordable housing is supposed to be. If you can find something between $250,000 and $500,000, that is the area where you will find it. Properties tend to be closer to the half million mark than the lower price.
As property values go up, so do property taxes. The property valuation notices will come out later this week. In Eagle County, 45 percent of residential property value is second homes. Those properties tend to be worth over $2 million each. Around 60 percent of Eagle County’s property tax burden will be paid by second-home owners. High end homes did not see the increases that the local markets did but they did not see their values plummet as hard when the recession hit. A significant part of the overall property value increase was due to the number of local hotels that sold in Vail, which has not happened in many years. The Park Hyatt sold for $145 million, the Four Seasons sold for $121 million, the Cascade sold for $90 million and the Vail Holiday Inn sold for $22.4 million.
In Colorado, properties are re-appraised every two years in odd numbered year. This year’s appraisal is based on market sales that occurred between January 1, 2015 and June 30, 2016. Under Colorado’s Gallagher Amendment, residential property taxes are limited to 45 percent of all property taxes in Colorado. Commercial and every other kind of property cover the other 55 percent. Eagle County voters have seen a property tax hit from the four tax increases approved last year: Eagle County school district, Eagle County ambulance district, Eagle River Fire protection district and Gypsum Fire protection district.
For more information on real estate in the Vail Valley, please visit our website: www.gatewaytovail.com.
Property Tax notices will be going out this month and will reflect an increase after Eagle County voters approved four separate taxes increases in 2016. The four property tax increases this year include: Eagle County School District, Eagle County Ambulance District, Eagle River Fire Protection District and Gypsum Fire Protection District.
Your property tax increase will depend on where your property is located. Everyone in the Eagle River Valley from East Vail to Dotsero pay the tax increase for the schools and the ambulance district. The tax increase for the Eagle River Fire Protection District will be paid by property owners from Tennessee Pass to Wolcott and areas north and south inside that district. They will also pay the increased school taxes and ambulance district taxes. The Gypsum property owners will pay the increased school taxes and ambulance district taxes along with the Gypsum Fire District taxes.
Under Colorado’s tax structure, residential property is taxed at 7.9 percent and Commercial property is taxed at 29 percent. The commercial property owners will pay considerably more in property taxes.
Property values continue to rise but your residential property tax rates will not go up more than the 2017 increase. According to Mark Chapin, Eagle County assessor, your residential property tax rates may decrease and here is why: Under Colorado Gallagher Amendment, residential property taxes are limited to 45 percent of all property taxes in Colorado. Every other kind of property covers the other 55 percent. To keep that equation balanced, residential property tax rates will likely decline in 2018, according to Mark Chapin.
For more information on real estate in the Vail Valley, please feel free to call: Betsy Randall at (970) 401-3011 or visit our website: www.gatewaytovail.com
This Colorado ranch for sale, located minutes outside Vail, Colorado and Beaver Creek, Colorado, affords blissful tranquility from 35.5 acres & boasts sweeping views of dramatic Colorado vistas & radiant colorful mesas.
Spectacular & rare, this land is within a gated community alongside the stunning Eagle River that is teeming with Brown & Rainbow Trout. With over 950 feet of river frontage this magnificent setting is a chance in a lifetime to own. Zoned resource for a single-family & detached caretakers, this property is primed for the ultimate Colorado ranch & river estate. Recently reduced to $895,000!!
Last weekend, these were just a couple of the fish that were caught on this property:
For more information on this spectacular Eagle River property, or for a personal tour, please contact Suzi Apple, Broker/Owner at 970.376.5417 or Apple@GatewayToVail.com
For more information on Vail Valley Real Estate, or to browse the entire Vail MLS, please visit GatewayToVail.com
Good morning and welcome to the last weekend in October!
Following are the stats provided on the Vail Valley MLS this morning…
NEW LISTING – Six new, 3 residential, 2 land, & 1 rental, pricing range from $2900-/mo to $999K. Listings are in several areas, call for details.
PRICE REDUCTIONS – There are only two decreases from list price, one of $24,100- on a residential, & a price drop on a commercial building lease, call for details.
UNDER CONTRACT – Five properties have come UNDER CONTRACT with pricing ranging from $233,100 to $829K with one of those a partial ownership for $169K.
Finally, the SOLDS, Eleven new owners in the Valley. These SOLDS were purchased for $280K – $1.565M. They are located in Avon, Edwards, Eagle, & Gypsum.
If you may be interested in any additional info, call me, 313 600 8330.
Trick or Treat day @ Riverwalk in Edwards for 10a-1p come on by for your TREAT!
Here are the stats as of this morning…
NEW LISTINGS – One new, a time share @ Four Seasons in Vail, about 3 weeks/yr…list price $280K
PRICE REDUCTIONS – Four price reductions, 2 residential & 2 time share…2 residential are $20K & $54K…the 2 time shares $20K & $6500-
UNDER CONTRACT – Seven properties are now under contract, list prices range from $250K-$499K for improved properties and $65K-$269K for vacant land
FINALLY, SOLDS…Eleven are now sold…residential improved sold prices are from $367,500- thru $9.5M…land which has sold ranges from $180K to $360,500-
If you have any questions or would like more info…
CALL ME @ 313 600 8330
Enjoy your day!
Good morning, here is what is showing up in the Vail MLS STATS this morning…
SOLDS – 13 properties have closed and now have new owners, 12 residential ranging in price from $177K in Leadville to $9.375M in Vail. One vacant parcel in Red Cliff has sold for $220K.
As for UNDER CONTRACT, there are 10 Listings which offers presented have been accepted and now will continue through the process and likely become solds. All are residential and they range in Listed Price from $315K to $3.795M.
PRICE REDUCTIONS number only 3, two have decreased the asking/Listing price by $20K and another by $8K.
Finally, NEW LISTINGS on the market are a huge, 1. It’s one you may want to see, a $2.265M in Vail!
Whether your looking for a better deal with taking advantage of a PRICE REDUCTION, ready to LIST your property, or just looking and want to see a Newly Listed home or some other Listing still on the market, CALL ME TODAY. I’ll help you through the process and get you into your next property in the Vail Valley.
DEAN QUINT 313 600 8330
Hi & good morning,
Wednesday morning here in the Vail Valley we experienced our season’s 1st dusting of snow to blanket most if not all of the ground at least from Edwards to the East. Of course it was short lived and only at the upper elevations is it sticking, the rest has melted.
Here are some stats as of this morning according to the Vail MLS.
SOLDS – 11 properties have sold, ranging in price from a parking spot in Vail for $100K- to $999K for a single family home in Singletree.
UNDER CONTRACT – 8 new UC properties are reported ranging from $124900- for a lot in Red Cliff to $850K up in Beaver Creek for a ski in/ski out.
PRICE REDUCTIONS – Two price reductions one for $50K the other for $19100-, worth looking at for a better deal.
NEW LISTINGS – 7 new listings range from $449K for a 3 Bdrm 3BA in Edwards to $4.3M for 360+/- Acres near Dotsero with an improvement on it.
If interested in these or any other property in the Vail Valley or surrounding area give me a call and I’ll do my best to answer your question or will find the answer if I don’t know it!
Have a good week…
GOOD MORNING on this 1st Day of October!
Here is an update on some of the current stats:
SOLDS – there are 8 newly sold properties in the VAIL VALLEY prices range from $254K – $4.295M.
UNDER CONTRACT – Properties now under contract number 7, ranging in cost from $82.5K up to $890K. Also there is one partial ownership now UNDER CONTRACT which was Listed @ $60K.
PRICE REDUCTIONS – Several properties, 6, have reduced the Listing Price one by $5k another by $100K for an average of $37.3K.
NEW LISTINGS – There are 6 new listings to look at. Listing Prices vary from $1.625M up to $3.995M. There is also a commercial rental newly Listed @$45/sq ft in Lions Head in Vail.
If you want to investigate further, just contact me and I will surely help you with your Real Estate need! 313.600.8330
thx dean quint
WOW! 12/5/6/5 This morning shows 12 new SOLD properties, 5 UNDER CONTRACT, 6 PRICE REDUCTIONS & 5 NEW LISTINGS. In recent days the market continues to move along with plenty of properties available whether it be for land, a permanent primary residence, second home or time share for summer/winter fun.
SOLDS are for the past several days and range from around $285,000- up to over $14,000,000-. It is quite a range of property values for sure. What is important simply is there is a property out there for you most likely at a price which is affordable for you.
UNDER CONTRACT properties are those pending with an accepted offer by the seller from a buyer and they are now working through the process to meet all of the contractual terms, be it an inspection, financing, or it could be one or more of many other terms to yet be fulfilled. Some meet all the requirements and move to the SOLD category others do not and may then return to LISTINGS back on the market. The range of listed properties UNDER CONTRACT are from $275K to over $2.2M.
PRICE REDUCTIONS on average is $42,650- of Listed properties. Keep in mind the spread of Listing prices are from the $400K to over $2.4M. Regardless, there are motivated sellers and is this the time for you to make your move?
NEW LISTINGS on the market are located from East Vail to Gypsum. They range in listing price from $465K up to $3.2M. Is this in your price range? Could this be one of the areas you are considering?
Give me a call or stop by the office today in Edwards. I’ll be happy to assist you whether you are interested in buying or selling in the Vail Real Estate market. My number is 313.600.8330 and I will be in the office today until 5pm.
Have a delightful day!