Gateway Land & Development

Monthly Archives: May 2017

What a better way then to start off the month of June then heading over into Eagle and enjoying crisp local brews, tunes and smiles at Bonfire’s Block Party!
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In 2 days Bonfire Brewery in Eagle is hosting 8 bands at a $5 cost! What an awesome deal! If you’re having a hard time reaching for that $5 bill from your wallet know that the proceeds to this weekends events goes towards The Cycle Effect; who uses mountain bikes as a tool to educate and empower women.
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With blue skies and sunshine in store this block party is where the fun is this weekend! Bonfire brewery prides itself on it’s hand crafted brews and YES you’ll be able to order your favorites at the block party as well as some tasty new releases.  Hungry? No problem, Bonfire Brewery Block Party has AWESOME local food vendors in tow to help you wash down those tasty brews! Local eats like Nickies Quickie, Crazy Wagon, and Pickup’s Pizza to name a few…. Not to mention, there are a plethora of yummy eats in the Eagle area if you feel like leaving the Block Party and grabbing a bite elsewhere.

Be mindful of your travels while consuming Bonfire Brews, click HERE to see what transportation options are available for you while indulging!

For news and tips on local events this Summer keep your eyes pealed on our GatewayLand.com website and clock on our news and blog page.  Also, we are actively posting to our Facebook webpage!

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It’s Summer for the transit system in the Town of Vail beginning today!

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There will be a Vail transit bus circulating through East Vail every 30 minutes starting at 7AM until 6PM today.  On the Sandstone route there will be service hourly from 6:40AM until 7:40PM while the Vail Golf course route picks up and drops off passengers hourly from 8:10AM until 5:10PM daily.

The West Vail Green route has been suspended to accommodate one-way traffic of the North and South Frontage Road during the completion of the I-70 underpass.

Pine Ridge, Vail Commons, and Upper Buffehr Creek ARE CLOSED.

In the Town of Vail buses will run every 7 to 10 minutes during the busy Summer season! Bikers, no fear some buses have room for 3 bikes on racks!

Stay safe this Summer season and take advantage of the free, easy bus system!

 

For more information on Vail Valley Real Estate please contact me Lai, at BongLai@aol.com

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Vail real estate

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.