Vail Valley Real Estate News for Wednesday, Oct. 15, 2014

The Rocky Mountain Home Team is proud to be a part of October's biggest sale to date, an Arrabelle condo selling for $9,350,000!  Congratulations to the new owners.

The Rocky Mountain Home Team is proud to be a part of October’s biggest sale to date, an Arrabelle condo selling for $9,350,000! Congratulations to the new owners.

Big sales at the Arrabelle, the first signs of ski season and so … how about those really low interest rates? This is an archived edition of our weekly news brief.  Visit our Vail Valley Real Estate News page for the latest news from the Rocky Mountain Home Team!

October 2014 has seen 48 Vail Valley residential home sales in through the 14th, with an average sales price of $1,023,005. Two Arrabelle at Vail Square condos have sold so far in October, making this the first month with two Arrabelle sales since June of 2010. Those two sales, with price tags of $9,350,000 and $6,312,500, helped bring total dollar volume up to $50,127,240 month-to-date.  One more Arrabelle unit is currently under contract, set for a November closing, and the deals continue to to be done in Vail, Bachelor’s Gulch, Arrowhead and Beaver Creek as well.

Check out our Market Report Center for more information on Real Estate in Eagle County, Colorado.

National News

“The 30-year fixed-rate mortgage dropped to a nationwide average of 4.20 percent last week, from 4.30 percent the week earlier, the Mortgage Bankers Associaton reports. However, average mortgage rates reportedly have dropped even more this week, with many lenders reporting a 4 percent average as of Tuesday and some even offering 3.875 percent to creditworthy borrowers.”

“(The housing market) moves in seismic, long- term cycles, so short- term shifts in equities don’t concern me. The only place where stock market fluctuations directly impact real estate is in high priced markets in Manhattan and the high end suburbs, since those markets rely on Wall Streeters with healthy year end bonuses.”

Yes, it’s true – the characteristics of your home will vary depending on where your home is located geographically. A new multi-regional study of single family homes that may tell us what we already knew – but it is interesting nonetheless.

What to Do in the Vail Valley?

The Vail Valley Theater Company brings Chicago to life at Battle Mountain High School on Friday and Saturday, Oct. 24 and 25.  Set in the prohibition-era windy city, this satirical musical is based on the 1926 play, which was written by a reporter, Maurine Dallas Watkins, about actual crimes and criminals she covered on the beat.

And so it begins.  Sure it’s technically outside our county, but A-Basin isn’t far away, and neither is Friday’s first day of ski season!  Go give your gear (and yourself!) a warm-up run and get ready for another great season!

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