Vail Valley Real Estate News for May 8, 2015

Property Valuation

Property Valuations arrive in Eagle County, a look at the Vail Valley Real Estate Market’s numbers for April and a Saturday opportunity for both kids and grownups. 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!

The Vail Board of Realtor’s Multiple Listing Service recorded 79 residential property sales in April 2015, down almost 20 percent from April 2014’s total of 98. Average sale price per square foot came down from record highs in March, but remained strong in all markets. Average days on market was also down in all markets,.  Vail Valley ski properties saw average days on market fall to to 113, the lowest it has been in at least three years. In western Eagle County, the number of distressed property sales for the first four months of year was cut by more than half, from 16 in 2014 to 7 in 2015.

Property Valuations have arrived for Eagle County homeowners! This year’s valuations reflect what our data has shown – home prices in the Vail Valley are on the rise. If you think your valuation was too high, let us know. We can double check the numbers and, if possible, provide you with data to help you file a protest with the assessor’s office.

Visit our Market Report Center for a more detailed look at Vail Valley Real Estate.

 National News

The 30-year fixed-rate mortgage climbed to average 3.80 percent this week while 15-year rates rose above 3 percent, both reaching their highest levels in nearly two months, Freddie Mac reported in its weekly mortgage market survey. That’s still pretty low, historically speaking, but ever since the Fed indicated it may raise rates, each uptick has been carefully observed by market watchers.

As Home Ownership Drops, Inequality Rises: “Unfortunately, due to an underperforming labor market, insufficient housing supply, and overly stringent underwriting standards since the recession, home ownership has plunged to a rate not seen in over two decades. As a result, the country has become more unequal as the number of home owners has fallen while the number of renters has significantly risen.”

What to Do in the Vail Valley

Fact: Kids love fire trucks and hot dogs. You’ll find both on Saturday as the Avon Fire Station hosts an open house. Learn about fire fighting equipment and gear while you pick up tips on emergency preparation and fire prevention.

“We are delighted to invite our friends and neighbors to visit our station,” district community risk manager Tracy LeClair told the Vail Daily. “We think this will be a lively, fun, informative and worthwhile event for everyone.”


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