Gateway Land & Development

Category Archives: Market Data

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The Real Estate Market finished strong in 2016 according to Land Title Guarantee Company.  There were 2,048 sales in 2016 which was a 1% decline from 2015.  The total sales volume was $1,957 billion which was also a 1% decline from 2015.  Eagle County has not exceeded $2 billion in a year since 2008.

Inventory remains fairly low especially in the price of $1 million or less and most buyers are local residents.  There is roughly a 6 month inventory in the $1 million or less priced homes which is a sign of a balanced market.  The most expensive home sold in Vail for $23 million which closed in January.  It was on the market for approximately 2 years.  The highest priced overall sale was $121 million which was the Four Seasons Vail.  The average price of a residential sale in Eagle County was $970,184.  Vail Village had the highest price per square foot for a single family home at $1,786 and the state with the most buyers came from Texas.

For more information on real estate in the Vail Valley please feel free to call me:  Betsy Randall at (970) 401-3011 or visit our website:  www.gatewaytovail.com.

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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.

Thx  dean

Homes are selling! And selling in locations that have been sluggish to sell…

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Buckle up if you’ve been on the ride that is the real estate market here in Vail Valley…

Currently the market is hot here! Fairly, and honest priced homes are moving faster then ever right now. The crucial key to these homes moving is pricing! 

Down valley have generated more sales then surrounding area such as Beaver Creek, Edwards, Avon etc (up Valley). The Eagle market, along with the rest of the Down Valley is as busy as it’s been in years. The idea is that when the home is priced right, it will sell. Reason for such activity is that homes priced in the $500,000.00 are being sold quick simply  there is not enough inventory in that price range.

Long time local realtors here in the Valley are expressing that while homes are selling there still seems like the need for more housing opportunites. Offering a diversity for potential home owners makes for more colorful communities here.

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NOW is the time to sell, please contact me, Lai White at 970-926-6777  or  970-471-2207 OR bonglai@aol.com

 

Some Buyers search the internet for properties, then contact the listing agent.  They believe two things that most usually do not hold true:  that they have found the best property suited to their needs and desires, and that they can negotiate a better deal.  Wrong!

To start with, the realtor that lists a property wins no matter how the sale occurs.  Many realtors focus only on listing properties, and most often they get the public recognition, when it is the Buyer’s agent that has done the tough job of linking a client to the appropriate property.  Yet, the listing agent makes money even when they may have invested little time, money and effort in marketing the property.

Second, many properties do not gain exposure through the internet or newspaper and magazine advertising.  Good Buyer agents know their market well, spending a lot of time previewing properties to know which are the best deals.  So, an “independent” Buyer is likely to miss the property that would be a perfect match for their criteria.

Third, the listing agent contracts to sell the property and receives commission on BOTH sides of the deal if there is no Buyer’s agent.  Buyers who think they can negotiate away the Buyer agent commission are sadly mistaken.  Worse, the job of the listing agent is to sell their listed property, so if there is a better match for the Buyer’s needs, the last person likely to tell them about the best available property in a given market is that listing agent.

A good Buyer’s agent will spend considerable time interviewing a client to ascertain what features and location would suit the client best.  Contractually, the agent is obligated to work in the Buyer’s best interests, whether it is for investment property or a home for personal use. Then, the agent uses their in depth knowledge of the local market to connect the Buyer with a property that best meets the Buyer’s needs.  In some cases, as with ski or golf properties, this knowledge is crucial.

Real estate is usually the biggest purchase anyone makes, particularly in our market of luxury real estate.  Why would you forego have an expert agent to help ensure you make the best decision?  Call Lai White at 970-471-2207 to discuss how I can help you!

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Did you know that China built whole cities which currently have no residents?  At one time, about three-quarters of the world supply of high-rise construction cranes were in China!  With real estate development representing about a quarter of the Chinese economy, the worldwide slump has caused a lot of worry on how much impact the Chinese problem would affect other nations.  The good news is that in many cities in China, real estate development and prices are rebounding.  However, the resurgence is so far limited to urban areas, and the large supply of unsold homes elsewhere is problematic.

 

What does this mean for the United States and for our local resort real estate market in particular?  Well, on the side of the US financial assets (debt) owned by the Chinese government, a healthy Chinese economy is a good thing.  Further, a strong economy there bolsters worldwide confidence.  And, since our local market has a high percentage of second home and investor content, the more bullish buyers feel about the economy here, the more active our local market gets and the faster local prices rise.

In a recent blog, I pointed out that a strong Aspen market the past year is a good indication of promising news for the Vail Valley market, as we traditionally lag Aspen activity, up or down, by about 12-18 months.  We are already experiencing an increase in activity and pricing.  New home construction is back in many neighborhoods and golf communities like Cordillera, and particularly in luxury homes.

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Contact Lai White at 970-471-2207 for more information on why now is a great time for both buyers and sellers.  Buyers, do not miss the shift in the trend from a buyer to a seller market!

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This infographic is about home buyers and sellers in the Silent Generation, born between 1925 and 1945. The information it contains comes from the 2016 Home Buyers & Sellers Generational Trends report.

For information about buying or selling, please call Greg Peterson at 970-331-1333.

This is a fun chart to see how different age groups approach the home buying process.

So, the next time your looking to buy a home, give me a call. I will represent you as a Buyer’s Agent to ensure your best interest is protected. Remember that a Transaction Broker is looking out for the best interest of the transaction and not a specific party to the transaction. 

For more information call Greg Peterson at. 970-331-1333.

 

We dug into our historical records to look at how long home buyers have searched for the homes they purchased over the years and the number of homes they viewed during that process. Our main finding was that despite major changes in the housing market, ups and downs in the economy, and the advent of the digital age, home buyers searched for roughly the same amount of time and looked at the same number of houses in more than three decades. The differences were only a few weeks, not years, and a couple of homes, not hours spent on the search. Let’s look at the minor fluctuations that have occurred.

The Profile of Home Buyers and Sellers report was first launched in 1981. In the 1980’s—1990’s, it was conducted only every two years. By 2004, the survey was conducted every year accompanied by its annual release, marking the report as one of the most popular and insightful research studies on the home buying and selling market from the perspective of consumers.

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Decade Trends

  • For most of the 1990’s, home buyers searched for a median of two months; they looked at 12 homes in the early ‘90’s and 10 homes by the end of the decade.
  • For a majority of the 2000’s, home buyers still searched only two months; by 2009—2010 they were looking for nearly three months. During that decade, home buyers looked at a median of 10 homes for most years, with a slight dip to nine homes during 2004—2006.
  • During the 2010’s, home buyers look for homes for 12 weeks until 2014 and 2015 when it bumped back down to only 10 weeks. At the beginning of the decade, buyers looked at a median of 12 homes. In the last four years, they looked at only 10 homes.
  • 2004—2006 home buyers searched for eight weeks and looked at nine homes, the shortest period of time according to the report.
  • 2009—2011 buyers searched for 12 weeks and looked at 12 homes, the longest search time according to the report.

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If your thinking of searching for your perfect home, give Greg Peterson a call at (970) 331-1333.

This blog post was written by Managing Director of Housing Research, Danielle Hale, and Data Analyst, Hua Zhong.

You probably know that home listings go up most often on Thursdays and Fridays. Here is the data to back up your intuition:

  • As we start the New Year, this is a good time to take a look and recap the year behind us to see what insights 2014 holds for 2015. While December 2015 is still preliminary, we can get a good sense of the year by looking at the data we currently have for the past 12 months[1]. In our first posts, we looked at popular and least common closing dates. Here, we’ll take a look at listings.
  • Below, we see the most popular listing days of 2015. Note the strong preponderance of spring dates and obvious lack of weekends.
  • The biggest months for new listings are April, May, and June, followed by March and July. These months alone accounted for roughly half of all new listings in this analysis.
  • While not devoid of new listings, the weekends are obviously not popular days to list. Among weekdays, Fridays and Thursdays are the most common days for new listings to go up, with Mondays and Wednesdays trailing a bit and Tuesdays not too far behind. Tuesdays and weekends are the only days of the week absent in the top 25 days for listings.
  • While home closings exhibit a strong tendency to get done at the end of the month, listings are much steadier throughout the course of the month with a slight tendency to be posted earlier rather than later.
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[1] This analysis considers data from January 1, 2015 to December 31, 2015.

Don’t miss out on this prime listing times!! Get your home listed with Greg Peterson early! Call me at 970-331-1333 to get your home listed. 

Yes, we have all seen the shows on TV with a designer comes in and remodels a home to get it ready to sell. But, did you know that this was actually an option right here in our valley?

I have partnered with Alejandra Billoni, a local architect and designer, to give our clients more options with their home at an affordable price. Alejandra has the luxury to work independently with private clients. This eliminates much of the overhead expenses of some of these large companies, which allows her to pass those savings to the client.

I know, this all sounds well and dandy, but what has she done lately. I am glad you asked, she is currently working on a remodel of the spa area at a condo complex in Beaver Creek. But don’t worry, she does residential properties too.

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The picture is of The Chateau and not Alejandra’s work.

Here’s the best part, whether you are buying or selling, we can customize a package for you to save you money. 

So, for more information on remodels or designs, call Alejandra at 970-376-6615 and Greg at 970-331-1333 for information on buying or selling.