Our weekly report on Vail Valley Real Estate News, Market Conditions and Trends. This is an archived report. Check our news page for the latest Vail Valley Real Estate News.
Friday, April 18, 2014
Watching for last minute deals in Vail and Beaver Creek, Monthly Indicators from the VBR, and the big story is still inventory.
Now is a great time to watch the Vail Village and Beaver Creek markets in particular. As the ski season draws to a close, sellers interested in making a deal and buyers who are on the fence both have extra incentive to close. (Unable to sell your ski condo this season? Perhaps you should consider working with one of the Vail Valley’s top-producing real estate teams.)
The Vail Board of Realtors released its Monthly Indicators report for March 2014, and once again the story is low inventory. Buyers are not entirely left out of the market, however. Consumer confidence and GDP are on the rise as we enter into the primary home-buying season. “Although interest rates are up from their all-time lows, borrowing costs are still remarkable affordable,” said the VBR report’s introduction. “It’s cheaper to own than rent in most of the country.” Conditions are changing fast, and having a good agent on your side can really pay off.
National Real Estate News
“While inventory is still low, the continuing annual lift in the number of homes on the market that we’ve seen over the first months of 2014 is an indicator that buying conditions this year may be notably improved from the frenzied pace of last spring.”
The National Association of Home Builders / Wells Fargo Housing Market Index showed a third straight month of market improvements. NAHB expects 1.1 million housing starts in 2014, primarily driven by the pent-up demand of existing homeowners.
Is your agent fulfilling his or her fiduciary duty to you, or ensuring both sides of the deal by not listing your property properly and promptly? A study in San Fransico found that the average off-MLS deal cost the seller $200,000.
Vail Valley Events
Spring Back to Vail wraps up Sunday with the Pond Skimming World Championships, free music and more. We’ll see you on the slopes!