The Westin Riverfront presents a great Vail Valley real estate opportunity

There is a Vail Valley real estate dream deal available in Avon Colorado.  Do you remember where you were the last time a great deal came along?  Do you remember if you acted on it or not?

If you did not take action you may remember kicking yourself afterwards and may still be kicking yourself! There is a great opportunity for you in Avon, Colorado, looking directly up at Beaver Creek. The Westin Riverfront Resort and Spa, situated along the banks of the Eagle River, at the base of Beaver Creek and Bachelor’s Gulch, is a new hot spot in the Vail Valley!  This unique property is a bold statement of GREEN building and the ENVIRONMENT, with a full LEED certification. The property consists of a world class spa and  the new Avondale Restaurant, by local restauranteur Thomas Salamunovich, the creator of Larkspur Restaurant and Market in Vail.

Skiing from this property is a breeze with the new Riverfront Express Gondola just outside the door, buckle your boots grab your boards and ride the Gondola to world class skiing at Beaver Creek or Bachelor’s Gulch.

Currently there is a deal like no other available at the Westin Riverfront Resort and Spa, with 35% to 40% off of select units. For a sampling of properties and prices click here.  Please, contact me today for full price sheet and all available residences.  For a sampling of properties and prices click here.

This is a unique property in the Vail Valley and deals like these to not come around every day.  Contracts will be taken on January 7th, if you want to get in on this opportunity contact me today and remember This is the Deal you have been waiting for please do yourself a favor and act on this unique opportunity today.

Vail real estate is moving, with a variety of properties to choose from

Winter is arriving in Vail and Real Estate has picked up from the doldrums of 2009.  Properties are moving. There have been several transactions over the past 6 months. While the prices have definitely settled from the peak, there is no panic selling going in Vail. In Vail Village there have been 13 transactions in the past 6 months ranging in price from a high of $6,450,000 for a new slope-side penthouse to $567,000 for a 1 bedroom condo.  The price per square foot is currently averaging approximately $1164.  The  high is $1897 per square foot for a new slope-side property  the bargain has been $728 per square foot for a dated Vail Village property.

In Lionshead Village there have been 11 transactions in the past 6 months ranging in price from a high of $5,450,000 for a Forest Road home to $285,000 for a studio hotel room, the price per square foot is currently averaging $1084, with a high of $1557 per square foot for a slope-side home and $661 per square foot  for a dated Lionshead Village property.

The bottom line is that Vail is a special place on earth where people want to visit, vacation and live.  The prices here will not relate the same to prices in Detroit or Florida, Vail is holding its own in the Real Estate world and there are great deals to be had from the peak of our market.

If monthly payments are affordable buying a home in Vail Colorado can make more sense than renting

A question that surfaces on most people’s mind at some point is, whether to rent or to buy when living in Vail Colorado.  The first thing that pops to mind is affordability but there are other factors, such as job stability, relocation possibilities and lifestyle.  If you intend on being in Vail for at least two more years, your income is steady and purchasing a home fits your lifestyle then it is time to break out a pen, paper and a calculator and see if buying makes more sense financially than renting.

At first glance buying a home in Vail Colorado makes more sense than renting because of the ability to gain equity in a home.  While the past few years have shown this factor to be a bit shaky, the reality is that if you keep a property long enough, or get in at the right time, buying Vail real estate can be a worthy investment.

There is no sense making a two column list when it comes out to equating the cost of renting and buying.  Renting is a fixed equation, the monthly number typically doesn’t change.  To compute your costs for buying a home you look at the following:

• Purchase price
• Down payment amount
• Loan Amount
• Loan Term
• Interest rate
• Property taxes
• HOA fees
• Monthly mortgage payment
• Home owner’s insurance
• mortgage insurance

Your monthly costs will include your mortgage payment, property taxes, insurance, and any HOA dues that may exist.  If these numbers add up to an amount you can afford it could make sense for you to purchase a home instead of rent.  The important thing to remember is that once you buy a home you are not going to have a landlord to rely on to make repairs so factor in putting aside some extra money for a home repair and maintenance account.

Buying a home in Vail, or anywhere for that matter, is an important decision and one which can add to future security and financial stability if done with great thought and evaluation.

If you are looking for a luxury rental in the Vail Valley, look no further.  178 Wayne Creek in Beaver Creek is available for a winter lease.  Offering luxury and privacy this 6 bedroom, 6 bathroom home is located on the edge of a cul de sac in a ski-in setting.  With all of the amenities that Beaver Creek has to offer, free dial-a-ride resort shuttle, fine dining, excellent shopping, world class skiing and reknowned spas, this home has everything you are looking for and more.

If you want to have the opportunity to enjoy a wonderful home in Beaver Creek this winter contact Gil Fancher today, (970) 390-7469.  Gil Fancher has access to all Vail real estate listings and a huge selection of Vail Valley rentals.

Real estate appears to be stabilizing across the Country, take the opportunity to examine Vail real estate now

A recent report shows improvement in real estate across the country, which can only mean good things for Vail real estate.  The well known S&P/Case-Schiller index shows that the 10 city index and the 20 city index a marked improvement in real estate in the majority of cities that it tracks.  What the reports displays are small improvements or minimal devaluation in home values.  Home values are up anywhere from .1% to 3.4% in ten cities. In other areas real estate values have remained flat and in harder hit areas home values are decreasing at significantly lower rates.  Likewise, in Vail Colorado, while real estate bargains are there for the taking plunging home values are not occuring.

While the news is certainly not staggering it is encouraging because it indicates that real estate markets across the Country are leveling out.  Home values are falling less sharply and people are being drawn back into the real estate market.  It is also no surprise what is stimulating the market.  Low home values, low interest rates and the First Time Home Buyer Tax Credit have combined to create an ideal buyer’s market.  If you would like to take advantage of Vail real estate values before a recovery happens contact Gil Fancher today, (970) 390-7469.

For more information on the latest info click here for a report from Yahoo real estate.

Great news for Vail real estate, the Senate has approved an extended and expanded tax credit for home buyers

There is great news for Vail real estate, onWednesday the senate passed an expanded tax credit.  The First Time Home Buyer Tax credit has been seen as a huge success and its expiration on November 30 has had many feeling nervous about what its end will mean.  Those fears can now be put aside.  While the bill still has to pass through the House, which it is expected to do next week, is was overwhelmingly approved by the Senate in a 98-0 vote.  The tax credit will help those looking to buy their first home in Vail as well as those looking to trade up their Vail real estate.

What is new and improved with the extended and expanded tax credit?  The new and improved tax credit is still for first time home buyers but will also include home buyers who have owned their current home for 5 years or more.  The credit is up to for $6,500 for these current homeowners and remains at up to $8,000 for First time home buyers or home buyers who have not owned a home for the past three years.  The tax credit  is income restricted, an individual cannot make more that $125,000 annually and a couple cannot make more than $225,000 jointly.  A home must be  a primary residence and valued at $800,000 or less.  Buyers must have a property under contract to purchase by April 30, 2010, and the property must close by June 30, 2010.

The passing of this extended, expanded tax credit is good news on the real estate front and is expected to be the last tax credit offered for a long time to come.  Lower home values, low mortgage rates and the expanded tax credit make it a great time to look at Vail real estate.  If you are interested in researching Vail real estate contact Gil Fancher today.

Using the internet can make the job of being a landlord in Vail easier

Being a landlord in Vail Colorado can be easier that you think.  Many people are holding on to their Vail real estate these days, some by choice, because they are waiting for a stronger market, and some by necessity, those that simply cannot sell their homes.  What this means is that there are many first time landlords out there, a job that can be a bit daunting, especially if you don’t live near your property.

If you are lucky being a landlord is easy and you get a monthly check with no real involvement.  Many landlords have a more difficult time however, chasing down rent, making repairs and having to constantly oversee their tenants and their properties.

A new business, PayYourRent.com, helps a landlord to collect rent, track repairs, help tenants set up the utilities and more.  Utilizing an internet service like this can help the landlord and tenant, making communication easier.  At the very least, the internet allows a person to research how to achieve success as a landlord whether in Vail Colorado or elsewhere.

For more information on being a landlord visit Realty Times.

Whether Vail real estate has hit bottom yet or not, there is no mistake that it is a buyer's market

The biggest question hovering around these days is, have we hit bottom?  Whether this question be a general question regarding the recession or the real estate market, we have to ask does it matter?  Whether we hit bottom a couple of months ago or are going to hit it a couple of months from now, we can all agree that we have had better times and better times are in our future.  Whether we have hit bottom or not there is no mistake that it is a buyer’s market when it comes to Vail real estate.

That being said, if we haven’t hit bottom then the bottom must be close.  Wouldn’t it be better to buy near the bottom than miss it entirely?  Across the Country there are markets that are on their way down, markets that have stabilized and markets that are on their way back up.  Whether the market hit bottom a couple of months ago, is at the bottom now, or will hit the bottom in a couple of months, the top of the Vail real estate market is far away.

In Vail Colorado it is a buyer’s market out there.  Whether you are looking for a primary residence or a second home it is a great time to invest in Vail real estate.  Property values are lower than they have been in years, interest rates are still hovering at 30 year lows and some tax incentives make buying real estate today more affordable than it has been in years.  For all we know the Vail real estate market might be more affordable today than it will be for many years to come.

A program is in the works to promote incentives for short sales which would help some Vail property owners avoid foreclosure

There are not as many short sales in Vail Colorado compared with the rest of the Country.  Incentives are in the works for promoting short sales in order to avoid more foreclosures than are seen as necessary.  The plan is meant to prod lenders into allowing more short sales.  Currently short sales in Vail, as wellas across the country, are frequently avoided by lenders because the offers that come in are seen as too far below the last appraised value of the property, even though the foreclosed upon sales price in the end may be even lower.

The incentives that are being mulled over are expected to pass soon.  The plan is to give the lender $1,000 for allowing a short sale to occur and the buyer a $1,500 credit at closing.  The plan is expected to be passed by the treasury as a way to keep properties selling.

Short sales are seen as a way to help the home owner avoid a harsher hit to his credit as well as to get the house off of a lenders books before it even gets there officially.  Often a short sale is a win-win situation for the home owner, the lender and the buyer.  The new incentives are seen as a way to avoid the foreclosure rate increasing more than expected.  For more information on short sale properties in Vail, and Vail real estate in general, contact Gil Fancher today, (970) 390-7469.

For more information about the short sale incentive click here to read an article from Realty Times.

The Home Affordable Refinance program can help those whose home values have dropped

If you own real estate in Vail and are worried about the current value of your home there is governmental help available.  The Home Affordable Refinance program was designed to help home owners lower their monthly payments while at the same time securing lower interest rate mortgages. The program is aimed at helping home owners whose mortgage loans are more than the value of their home. The program had a value set at 105% and under the Obama Administration this number has become 125%. The Home Affordable Refinance plan is helping home owners who are underwater with their home values restructure their mortgage payments and ease their financial stress. If you are a Vail homeowner and your home is now worth less than what you bought it for you may want to learn more about the plan.  A few highlights of the Home Affordable Refinance program are:

• A borrower must be current on his payments in order to qualify for the refinance.
• The refinancing must be completed with a Fannie or Freddie approved lender.
• The new loan would come with mortgage insurance.
• Borrowers cannot take cash out.

If you have Vail real estate and the value of your home has dropped below what it was when you purchased it this could be the program for you.

Check out the Making Home Affordable web site for more information and to see if you qualify.

Visit www.vailmountainproperties.com for access to the Vail MLS and all Vail Valley Real Estate listings.

Don’t hesitate to call Gil Fancher today at (970) 390-7469, for excellent service and information on Vail Real Estate!