The Eagle County Real Estate Market stays strong in October, Zillow’s attempt to become “the Google of Real Estate,” and your chance to learn about investing in Vail Valley Real Estate from a true expert. (This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest from the Rocky Mountain Home Team!)
Friday, Nov. 7
The cost of renting in the Vail Valley continues to soar, while home prices have remained stable. Combined with interest rates at historic lows, conditions are right to encourage renters to become homeowners, and also to bring potential investors to the market. So it might not be a surprise that the Vail Valley real estate market has seen five straight months of sales growth through October, reaching 125 sales and its highest point since October of 2012.
Prices in most markets dipped slightly from recent highs, but a drop in Days on Market means homes are selling at a decent pace. Short sale and foreclosure numbers remain low. For more detailed information on the Vail Valley Real Estate Market, visit the Rocky Mountain Home Team’s Market Report Center.
In its latest bid to become “the Google of Real Estate,” Zillow will begin distributing an API to allow agents to feed Zillow reviews directly to their web sites. That’s actually not a terrible idea, and something we at the Rocky Mountain Home Team may choose to avail ourselves of when it arrives, since several clients have been kind enough to review our services on Zillow. (Care to be one of them?)
Zillow may not be a magical all-in-one solution to make everything about real estate easier and better, but we will gladly continue to leverage their services in any way we can to assist our clients and future clients. With that in mind, we humbly submit that if Zillow wishes to truly become “the Google of Real Estate,” accurate search results that don’t need to be regularly propped up by listing agent edits would be a great step in the right direction. And lose the ridiculous “zestimates” – there’s a good reason your Google search doesn’t have a “suggested price” sidebar.
What to do in the Vail Valley
Real Estate investment can be a reliable and productive source of income – but, as with any investment, you’re going to need to plan it properly. Rocky Mountain Home Team leader Michael Routh will be hosting a Real Estate Investment seminar Tuesday, November 11th at the Vail Board of Realtor’s office in Edwards, from 5:30 to 6:30. Come early for light refreshments, and stay a little late for Q&A with Michael. We look forward to seeing you!