Rocky Mountain Home Team lead Michael Routh appeared on TV8’s Good Morning Vail on Sunday to discuss Vail Valley Real Estate. In the four-minute interview with host Mark Sassi, Michael reviewed the state of several different market segments.
The review began with some welcome news for anyone looking to sell Vail Valley Real Estate.
“If you look at Vail entry-level, or up to $600,000 … You can’t keep inventory out there,” said Michael. “We’re seeing prices come up a little bit from their low points of the last few years.”
As both Vail Valley home prices and interest rates begin to rise, Mark wondered if would-be home buyers might feel as if their best chances are behind them. Michael replied that not only are home prices still affordable, but mortgage rates remain at historic lows.
“You can never time a market,” said Michael, “You just have to look and evaluate what looks good right now. ‘Is it affordable to me? Should I buy?’ And I would say that that answer is probably ‘yes’ for a lot of people.”
Michael also noted that for homes above the 600,000 price point, he still sees a buyer’s market in several neighborhoods. Given the current situation’s unique advantages for both buyers and sellers, Michael observed that now is a great time for anyone in a position to be both:
“If you’re a seller looking to buy something bigger, you can’t find a better time,” said Michael. “Sell your house for half a million dollars in a sellers market, then step up and be buying something for eight hundred thousand dollars in a buyers’ market.”
Finally, Mark took the opportunity to ask Michael about some of the Home Team’s current and upcoming listings, revealing a sneak peak at one of our upcoming homes in Wildridge, CO as well as a look at one of our luxury listings, 226 Copper Spur in McCoy.