Gateway Land & Development

Category Archives: Wildridge

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

Good morning…

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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

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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!

dean quint

Gateway Land and Development Real Estate

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…

Dean  313.600.8330

Have you ever found yourself wondering how the market is doing in your area? Here is the Vail Valley market review for December 2015 per the Vail Board of Realtors.

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This review has some great information to help you understand and see the monthly trends for this year and past years.

For more information, please contact Greg Peterson at 970-331-1333 or CAR-greg@gatewayland.com.

Is it really 2016 already?  For those of you who happen to be planning on buying a home in the new year—or even just trying to—there’s a whole lot to celebrate. Why? A variety of financial vectors have dovetailed to make this the perfect storm for home buyers to get out there and make an (winning) offer. Here are six home-buying reasons to be thankful while ringing in the new year:

Reason No. 1: Interest rates are still at record lows

Even though they may creep up at any moment, it’s nonetheless a fact that interest rates on home loans are at historic lows, with a 30-year fixed-rate home loan still hovering around 4%.

“Remember 18.5% in the ’80s?” asks Tom Postilio, a real estate broker with Douglas Elliman Real Estate and a star of HGTV’s “Selling New York.”“It is likely that we’ll never see interest rates this low again. So while prices are high in some markets, the savings in interest payments could easily amount to hundreds of thousands of dollars over the life of the mortgage.”

Reason No. 2: Rents have skyrocketed

Another reason home buyers are lucky is that rents are going up, up, up! (This, on the other hand, is a reason not to be thankful if you’re a renter.) In fact, rents outpaced home values in 20 of the 35 biggest housing markets in 2015. What’s more, according to the2015 Rent.com Rental Market Report, 88% of property managers raised their rent in the past 12 months, and an 8% hike is predicted for 2016.

“In most metropolitan cities, monthly rent is comparable to that of a monthly mortgage payment, sometimes more,” says Heather Garriock, mortgage agent for The Mortgage Group. “Doesn’t it make more sense to put those monthly chunks of money into your own appreciating asset rather than handing it over to your landlord and saying goodbye to it forever?”

Reason No. 3: Home prices are stabilizing

For the first time in years, prices that have been climbing steadily upward are stabilizing, restoring a level playing field that helps buyers drive a harder bargain with sellers, even in heated markets.

“Local markets vary, but generally we are experiencing a cooling period,” says Postilio. “At this moment, buyers have the opportunity to capitalize on this.”

Reason No. 4: Down payments don’t need to break the bank

Probably the biggest obstacle that prevents renters from becoming homeowners is pulling together a down payment. But today, that chunk of change can be smaller, thanks to a variety of programs to help home buyers. For instance, the new Fannie Mae and Freddie Mac Home Possible Advantage Program allows for a 3% down payment for credit scores as low as 620.

Reason No. 5: Mortgage insurance is a deal, too

If you do decide to put less than 20% down on a home, you are then required to have mortgage insurance (basically in case you default). A workaround to handle this, however, is to take out a loan from the Federal Housing Administration—a government mortgage insurer that backs loans with down payments as low as 3.5% and credit scores as low as 580. The fees are way down from 1.35% to 0.85% of the mortgage balance, meaning your monthly mortgage total will be significantly lower if you fund it this way. In fact, the FHA predicts this 37% annual premium cut will bring 250,000 first-time buyers into the market. Why not be one of them?

Reason No. 6: You’ll reap major tax breaks

Tax laws continue to favor homeowners, so you’re not just buying a place to live—you’re getting a tax break! The biggest one is that unless your home loan is more than $1 million, you can deduct all the monthly interest you are paying on that loan. Homeowners may also deduct certain home-related expenses and home property taxes.

Remember, anytime the economy is primed for buyers, it is also a great time to list your home for sale. So, whether your thinking of buying or selling, please give Greg Peterson a call at 970-331-1333,

 

Classy Aggie of the Day

https://twitter.com/AggieUpdate has chosen to honor me as their “Classy Aggie of the Day”. This came as a fabulous surprise this morning as I checked my twitter account. It is always a privilege to be recognized by fellow Aggies.

Greg Peterson 970-331-1333          https://twitter.com/MountianHomes          https://www.facebook.com/petersonvailproperties/?ref=hl          www.vailhomes.land

 

 

Selling Secret #10: Pricing it right
Find out what your home is worth, then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market.

Selling Secret #9: Half-empty closets
Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.

Selling Secret #8: Light it up
Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more sellable.

Selling Secret #7: Play the agent field
A secret sale killer is hiring the wrong broker. Make sure you have a broker who is totally informed. They must constantly monitor the multiple listing service (MLS), know what properties are going on the market and know the comps in your neighborhood. Find a broker who embraces technology – a tech-savvy one has many tools to get your house sold.

Selling Secret #6: Conceal the critters
You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog- or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, send the critters to a pet hotel for the day.

Selling Secret #5: Don’t over-upgrade
Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.

Selling Secret #4: Take the home out of your house
One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home stager to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.

Selling Secret #3: The kitchen comes first
You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

Selling Secret #2: Always be ready to show
Your house needs to be “show-ready” at all times – you never know when your buyer is going to walk through the door. You have to be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It’s a little inconvenient, but it will get your house sold.

Selling Secret #1: The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.

If you or a friend is thinking about listing your home for sell, give me a call at 970-331-1333 for more tips and suggestions to make your home as inviting as possible for potential home buyers.

WASHINGTON (July 9, 2015) — Real estate like-kind exchanges are an important vehicle for disposing of and acquiring properties and support the nation’s financial growth, job creation and economy, according to a new report from the National Association of Realtors®. The Like-Kind Exchanges: Real Estate Market Perspectives 2015 survey of NAR’s commercial and residential members found that real estate investors and commercial property owners place a very high priority on current like-kind exchange tax rules; 40 percent indicated that transactions would not have occurred in the absence of the tax provision, and 56 percent said even if the project would have occurred it likely would have been smaller in scale. Realtors® are active participants in like-kind exchanges; 63 percent of Realtors® participated in a like-kind exchange transaction between 2011 and 2015.

The survey found that like-kind exchanges in which Realtors® participated created between 10 and 35 new jobs, mostly resulting from spending on building improvements following acquisition. “Like-kind exchanges that allow investors and businesses to defer capital gains taxes on the exchange of similar properties bring great advantages to investors, real estate markets and the economy,” said NAR Chief Economist Lawrence Yun. “Realtors® and their clients often look for better economic use of existing properties that are underutilized, which helps promote local economic development and increase the nation’s gross domestic product.” Internal Revenue Code Section 1031, a provision that has been in the tax code since 1924, provides individuals and businesses with critically needed tax deferment on gains after the disposition of a property as long as the proceeds are reinvested in a similar property through a like-kind exchange. Replacement properties must be identified in 45 days and the transaction completed within 180 days.

Survey respondents said the primary reason that they or their clients participated in a like-kind property exchange, aside from the deferral of capital gains taxes, was for equity to acquire additional properties. Other reasons were for estate planning, portfolio diversification and completion of a development project. The tax savings resulting from like-kind exchanges are also helping bring more capital into local markets. Eighty-six percent of respondents said the savings from tax deferment allowed them or their clients to invest additional capital and make improvement in their acquired properties; these investments are generally responsible for the creation of new jobs, such as in construction and property management.

According to the survey, in 68 percent of like-kind transactions, Realtors® acted as a broker or agent, and 24 percent participated as an owner or investor in the transaction. A larger percentage of commercial members (76 percent) reported engaging in a like-kind exchange transaction compared to residential members (45 percent). Of the total, 40 percent participated in between 1 and 3 transactions, and 23 percent participated in 4 or more transactions. Residential properties comprised the largest portion of recent deals, accounting for 27 percent of disposed properties and 24 percent of acquired properties, followed by apartments (17 percent of dispositions and 22 percent of acquisitions). Land assets accounted for 19 percent of dispositions and 17 percent of acquisitions; retail properties accounted for 8 percent of dispositions and 13 percent of acquisitions; and office buildings comprised 11 percent of dispositions and 10 percent of acquisitions. Investors tend to hold on to their properties for several years; 47 percent of respondents reported their holding period was between 5 and 9 years, and 27 percent indicated a holding period of 10 to 14 years.

NAR believes like-kind exchange transactions are fundamental to the real estate investment sector, and repealing the tax provision would have negative effects across real estate markets and the industry. “Like-kind exchanges help investors more efficiently allocate capital and resources with less borrowed money into new investments that drive economic activity in communities across the nation,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “Any tax reform plan repealing like-kind exchanges would hurt investors and small businesses, increase financial leverage, weaken growth and the economy, and result in the loss of jobs.” Survey respondents indicated that repealing like-kind exchange tax provisions would reduce equity in real estate; 67 percent indicated repeal would lead to a large increase in financial leverage. Realtors® said the negative result would be reduced purchase money and new construction loans, and increased property holding periods. Ninety-six percent of Realtors® also said real estate values would decrease if like-kind exchange provisions were repealed.

The National Association of Realtors® Like-Kind Exchanges: Real Estate Market Perspectives 2015 report is based on a survey of 49,593 commercial practitioners and 55,160 residential practitioners (total sample size of 104,753) in January 2015, which generated 3,450 responses from all 50 states and the District of Columbia. The survey had a response rate of 3.3 percent. The report is available at www.realtor.org/reports/like-kind-exchange-survey. The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

What is Leverage Global Partners? Who are they? These are two questions I am frequently asked as talk to people looking at the wide variety of properties we have displayed on our windows.

The best way to start to understand what Leverage is to look at their vision statement.

“Inspired by a steadfast determination to elevate the field of play, Leverage Global Partners empowers an international network of prestigious independent real estate companies through shared intelligence, agile marketing strategies, and entrepreneurial connectivity. Each member of Leverage Global Partners has been carefully selected as demonstrating innovative leadership and peerless integrity in the field of real estate.”

Alright, so what does all of that mean? In essence, it means that our properties are marketed along side some of the premier properties around the world. Leverage Global Partners also connects you to Real Estate Brokers who are held to higher standards of service.

Leverage Global Partners Code of Care

  • INTEGRITY AND ACCOUNTABILITY:
  • DEFINING THE NEEDS OF OUR CLIENTS:
  • OUR STANDARD OF CARE:

Each member of Leverage Global Partners has been individually selected based on their recognition and expertise in the field of real estate as caring, conscientious experts as well as their willingness to whole-heartedly operate under the terms of this Code of Care. We understand and accept these principles, and we honor and commit to be held accountable to uphold these standards of practice.

If you still are not sure about the diversity and scope of the Leverage network, check out the Leverage Lookbook Spring 2015. You will find us in there on page 125.

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For more information check out their link on the bottom right of our web pages and remember, call Greg at 970.331.1333 for more information about any of their properties or local properties here in the Vail Valley.