Vail Valley Real Estate News for Friday, October 24

Two closings on Friday, Oct. 24, for the Rocky Mountain Home Team! Congrats to the buyers and sellers!

Two closings on Friday, Oct. 24, for the Rocky Mountain Home Team! Congrats to the buyers and sellers!

Current market conditions for Eagle County Real Estate, a scary good time at the Walking Mountains nature center, plus Burt Reynolds joins the ranks of Hollywood actors portraying Real Estate Agents. This is an archived edition of our weekly news brief.  Visit our Vail Valley Real Estate News for the latest updates.

Friday, Oct. 24

October has seen healthy movement at the top of the Vail Real Estate with 10 sales over $2 Million and three over $5 Million as of Thursday, Oct. 23.  The month has seen 87 residential sales so far, down only one from the same period last month and just four fewer than the same period of Oct. 2013.  Average sale price per square foot for the month so far is $465.

As the end of the month approaches, the Rocky Mountain Home Team is doing its part to pad October’s stats. In addition to helping to facilitate October’s top sale, an Arrabelle condo selling for $9,350,000, the team will close out October with three more closings including two today and another next week.

National News

The 30-year fixed-rate mortgage dipped again this week, keeping borrowing costs at their lowest rates in over a year.  Meanwhile, Fannie Mae and Freddie Mac are working to ease credit for those consumers who have been shut out of the market due to tighter credit requirements.

“The decrease in underwater properties is promising, but the estimated $1.4 trillion in negative equity means that the flood waters are not receding as quickly as they were before … slower price appreciation means the 8 million homeowners seriously underwater could still have a long road back to positive equity.”

“Double crosses, adultery, murder, mistaken identity and revenge ensue” as Rob Lowe, Burt Reynolds and Jessica Clarke dramatize the cutthroat world of Real Estate business in upcoming film “Pocket Listing.”  Since this is the second real estate movie within a year, the Rocky Mountain Home Team is obligated to inform you that we were in this business “before it was cool.”  Also, that description sounds absolutely nothing like what we do every day – which is probably a very good thing.

What to do in the Vail Valley

Walking Mountains Science Center in Avon hosts “Fright at the Museum” on Saturday from 3 to 6 p.m.  This event features activities to learn about magic and illusion, a look at some of nature’s own illusionists and a stage magic performance by Ty Gallenbeck.  Wander the “perspective pathway,” experience mirror magic and put on your best for the costume contest.  Admission is $15 per person

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