Vail Valley Real Estate News, Market Conditions and Trends for Friday, April 25. An active luxury homes market, not enough activity in congress and more about bitcoin. This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest updates.
April 25, 2014
The Vail Valley luxury homes market is seeing a lot of activity so far in April. Nearly half all real estate transactions were for properties priced over a million dollars, and eight were priced above six million. So far in April, 69 homes have been sold in the valley, with an average sales price of $2,268,786. Remove the five highest-priced properties – all found in Vail Village, and all selling for over $8 million dollars – and the average drops to $1,814,547. Remove to top ten, and the average drops to $1,316,566.
National Real Estate News
Short sales enable individuals no longer able to afford their homes to avoid piling up unpayable debts, while the lender gets back a portion of its money on a loan that could otherwise simply go bad. It’s not exactly a “win-win” situation, but it is a fair and equitable way out of an unfortunate situation for both sides. Counting the forgiven part of this debt as taxable income never made much sense in the first place. So what’s with the hold up in Congress?
“This is a remarkable milestone coming only two and a half years after the end of the worst housing recession since the Great Depression, and is a testament to just how robust this housing recovery has been.”
Alan Silbert, founder of the Bitcoin Luxury Marketplace” BitPremier, believes that bitcoin is moving from a “fringe, techie libertarian“ thing to “more of a mainstream technology.” “Some very intelligent people are starting to take notice” of the digital currency, says Silbert in an Inman News video. He makes an intriguing case, but we have to remember that when “some very intelligent people” start to notice something, that notice has a value of its own.
This Week in The Vail Valley
Are you joining Highway cleanup? The Keller Williams crew will be out on I-70 tomorrow working between mile marker 167 and 168. After a morning of hard work, volunteers and their families are invited to a Thank You BBQ at the Broken Arrow Restaurant from noon to 2 pm. The party will feature live music, beer from Crazy Mountain Brewery, a raffle, and delicious food prepared by the Arrowhead Alpine Club.