Gateway Land & Development

Category Archives: Bank Owned Property

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, 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

Sounds far-fetched, I know, but then these social media sites are always evolving. It also seems to be a shocking case of this already happening to a homeowner in Australia!

A couple living in Australia defaulted on their loan and could not be located by physical address or email. So the lender’s attorneys got creative and located them on Facebook. They verified the couple’s identities by matching their names, birthdays, and the fact they’d connected with each other on the site. So the homeowners were sent a foreclosure notice via Facebook.

How embarrassing! Especially if it ever ended up in the public area of one’s Facebook page! Perhaps even more amazing is that the Australian courts actually upheld the lender’s right to send foreclosure notices through Facebook. The court pointed out the fact that the couple had not enabled privacy protections on their Facebook accounts and that they visited the site frequently enough to “reasonably receive notice as a result.”

Legal experts believe it is just a matter of time before lenders earn the right to serve foreclosure documents through social networks like Facebook. You might want to change those privacy settings on Facebook now to avoid issues of this or any other legal kind in the future on your Facebook page!

Greg Peterson

Bio Photo

 

A recent article in the Vail Daily summarized data compiled by the Land Title Guarantee Company on seven Colorado mountain resort counties that indicated promising signs of a recovering Vail real estate market.  Eagle County, home of Vail and Beaver Creek ski resorts, as well as the Cordillera and Singletree golf communities, had almost $2 billion in sales in 2015 on over 2000 transactions.

 

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The decline in foreclosure sales has been significant.  While comprising almost 20% of the 2010 sales, in 2015 the foreclosure sales were only 1.9% of the total.  Also, the big increase in volume in the resort markets indicates that the demand for second homes has made a resurgence.  There has been a strong primary home market in the Denver area for several years as businesses and young people have discovered the excellent year round active life style that Colorado offers, and that has undoubtedly helped the resort markets.  Of the seven mountain resort counties, Eagle County was second in new construction units sold, which is a double digit increase over 2014.

All this bodes well for both buyers and sellers.  For sellers, prices are increasing.  For buyers, even the risk averse are realizing that we are emerging from a long slump, and that this is an excellent time to make a purchase.

For more information on Vail Valley, Singletree and Cordillera real estate, contact Lai White with Gateway Land and Development Real Estate at 970-471-2207.

 

The GoPro Mountain Games are the nation’s largest celebration of mountain sport, lifestyle and music featuring top professional and amateur athletes from around the world.  The environmentally-friendly adventure sporting event hosts approximately 3,500 outdoor athletes, along with an estimated 53,000 spectators.
2012_SMG_Mahone_BlackLab          concert

Athletes converge on Vail’s mountains and rivers to compete in 26 sports for over $110,000 in prize money.  Events include kayaking, rafting, stand up paddling, mountain biking, road cycling,World Cup Bouldering, amateur climbing, fly-fishing, trail running, the slackline world championships, mud runs, dog runs, and a half marathon.
bike    kayak

Additional events at the GoPro Mountain Games include: a film series, Outdoor Reels; aphotography competition, Mountain Click; an interactive expo area, Gear Town; DockDog canine competitions and free concerts at Mountains of Music.
2013-GP-Mariko-SUP

To register for events, or for more information, please visit www.gopromountaingames.com.

 For more information on living the mountain lifestyle, call Greg Peterson at 970-331-1333.

The foreclosure process is certainly one that bears a lot of attention in Eagle County, and as of the end of the year 2012, there has been a noticeable drop in those numbers. Over the past year there were 309 foreclosure sales compared to 338 in 2011. More significantly, in 2012 there were 446 initial flilings compared to 615 in the previous year, a 28% drop. What those numbers mean can vary widely since the process itself can take quite a bit of time, sometimes over a year to complete.

In addition to the pain and anquish caused by a foreclosure for a homeowner, the Brokerage community is also affected by the negative impact of those foreclosures as well. However, with the above mentioned numbers in mind, there is new optimism that we may soon a recovery from the dark years of 2008 to 2011. The economy has stabilized in Eagle County, which could mean more and better jobs could be around the corner. Also, a lot of homeowners who have been affected by dropping values have chosen to go through the Short Sale process and sell their homes for less than the mortgage amount, with the permission of their bank. The end result of this process is that homes are now moving through the system faster than in the past, and this increase in 'velocity' has meant that real estate sales have picked up, which always helps the overall market. One should also be reminded that interest rates continue to be the lowest in history, which will always make for an increase in applications.

Resort areas such as Vail and the surrounding areas are what we call 'lagging' indicators, meaning it took a lot longer for our economy to be hit originally, but it also means it will take a lot longer for a 'recovery' to take place. It is still a Buyers Market, but we at Gateway are always available to help you fins that 'special' deal that makes the most sense for interested buyers.

 

Red Sky Ranch Golf Club located twenty minutes west of Vail, Coloardo is set for a great summer of golf and real estate deals. The last two single family homes to sell in Red Sky Ranch was back in September and October of 2011. Those two homes sold in the $343 – $362 price range per square foot. There are better deals currently on the market, located in the valley's premier golf club: Red Sky Ranch. Currently there are four homes on the market and one of those is a banked owned dying for an offer. For more information on real estate in Red Sky Ranch or anywhere in the Vail Valley see my contact information.

Early snow in October has all of Vail buzzing for the upcoming ski season and the best month in real estate sales (Sept. 2011) in the Vail Valley since October of 2008 has the real estate market buzzing. First of all, reports show that Mid-Vail has received over two feet of the white stuff, which is great news this early for all skiers and boarders.

Secondly, and most important, if you have had any thoughts about purchasing a second home in Vail or Beaver Creek, now is the time to take s serious look. A large percentage of the 132 transactions in September of 2011 were banked owned properties. Most of the rest sold under the asking price.

For more information on real estate in Vail, Beaver Creek and the Vail Valley see my contact information and visit www.VailPropertySearch.com

More information on Snow Reports

Looking for warehouse space at bargain prices? Unit D1 at the Edwards Design and Craft Center has what you are looking for. With a spacious 3150 square feet of warehouse space and 1000 square feet of loft space, Unit D1 offers versatility to almost all types of businesses. Priced at $450,000.

Looking for a smaller space? Unit D1 is also being offered as two smaller units. Unit D1A has 1370 square feet of warehouse space and about 400 square feet of loft space. Unit D1A is priced at $212,400.

Unit D1B is priced at $285,600 for 1780 square feet of warehouse space and 600 square feet of loft space.

commercial property

email me for more info

For more info search Gatewayland.com

Good news for the renter as sales in the Vail Valley slow down. Eagle County residents saw the real estate market peak in 2007, and as a result, development and construction of new projects quickly slowed down. This factor was the beginning of a major loss of jobs in the real estate segment of the economy, and as of this year the Valley has lost 6,000 jobs. January through June of that year saw 879 transactions generating sales of $927 million. In January of this year transactions dropped to 407 and sales volume dropped to $401 million representing a 43% drop. On the other hand, sales for the first six months of this year are almost double the total in 2009, which was the low point. In addition to the loss of jobs and because of that fact, there have been a host of foreclosures in the Valley as well – 618 in 2010 and an equal number already this year.

The end result of this recession is that we have a Buyers' market like we have never seen in my 21 years in Vail. Just as there are short sale traders in the stock market, we have the same mentality in real estate. As prices drop we see more and more Buyers ready to step up and purchase the foreclosed and short sale homes. For anyone looking to rent or buy right now the opportunities are enormous.