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.

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.

According to reports June was the 5th month in a row where pending real estate sales were on the rise, great news for the national real estate market and great news here in Vail Colorado.  While there are still many areas where sales are faltering the majority of the country is seeing home values stabilizing or dropping at greatly decreased levels while at the same time the volume of sales is picking up.  The Vail real estate market is seeing signs of life, with sales volume increasing.

A recent Associated Press article pointed out that “the last time there were five consecutive monthly gains was July 2003.”  What is bringing about this positive change?

• Lower home values
• The first time home buyer tax credit
• Reduced mortgage rates

All of these benefits are seen as drawing people back into the Vail real estate market.  People can find bargains as far as real estate goes and that is an attraction in any market.

For more information visit YahooRealEstate.com.

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!

Real Estate has a lot of conflicting reports these days, overall things are on the upswing in Vail, CO

Real estate is improving in Vail Colorado.  Gloom and doom reared its ugly head as national real estate sales reports declared a 2.7% drop  in August, however, if you read between the lines the data isn’t as disappointing as one would think.  The two biggest highlights of real estate sales in August are:

• August sales are up compared with last year, 3.4% compared with August 2008.

• August 2009 had the second highest sales figures of 2009

Hand in hand with the negative news is more positive news, mortgage rates dropped again last week leaving 30 year rates hovering just below 5%.  There is still time to take advantage of the first time home buyer tax credit and lobbyists are hard at work trying to get the tax credit extended, as well as amended to include all home buyers.

The reality of realty is that while the recession may be over or nearing its end, recovery does not happen overnight.  Vail real estate sales are improving with dips in data here and there.  If you would like to get an up to date report on real estate in Vail contact Gil Fancher today, (970) 390-7469.

Click here for more information on August real estate sales and a look at an article recently posted in the New York Times.

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!

Real estate sales are picking up in Vail Colorado

Across the Country positive signs for real estate have surfaced yet again, indicating a troubled market that appears to be stabilizing. The Vail real estate market is no exception.  Sales in Vail Colorado are on the upswing with over 37 properties being placed under contract in the past 2 weeks. July housing statistics exceeded economists’ forecasts with sales up over 9%. While the number of sales are down considerably from the peak of 2005, they are up quite a bit from January.

The upswing of Real estate sales is largely attributed to the first time homebuyer tax credit which covers 10% of the value of the home up to $8,000. The current tax credit is only good until December 1^st and there is a big push to extend the credit. Home builders in particular want to see the credit extended because any projects that are started today cannot be guaranteed finished by the tax credit cut-off date.

In Vail the increase in real estate sales can largely be attributed to the drop in home prices and the improvement of the overall market.  With home values leveling off across the Country they are bound to level off here in Vail before too long as well.  Take advantage of low interest rates and consider looking at real estate in Vail today.

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!

If you are a first time home buyer and live in Vail Colorado consider learning more about the first time home buyer tax credit.  The tax credit could make owning your dream home in Vail a reality.  There is no doubt that the first time home buyer tax credit is a great thing but there are a few things to know before you assume that you qualify for the full $8,000.  The tax credit breaks down as follows:

• Who qualifies? First time home buyers and people (or spouses) who have not owned a home for the previous 3 years.  You must purchase your home between January 1, 2009 and December 1, 2009.

• What qualifies for the first time home buyer’s tax credit? Only a primary house qualifies.  It does not matter if it is a single family home, duplex, townhome, condo, apartment or co-op, if it is a primary residence it will apply.

• What is the amount of the first time home buyer’s tax credit? $8,000 is the maximum amount of the credit.  There are 2 factors at play when it comes to getting the credit: The cost of the home and the income of the person or married couple purchasing the home.  The credit can be 10% of the closing price up to $8,000 or a person making $75,000 or less or a married couple making $150,000 or less are eligible for the full $8,000.

• Do you qualify for the first time home buyer’s tax credit if your income is higher? Yes and no.  If you make more than the $75,000/$150,000 limit you get less of a credit.  The maximum income is $95,000 for singles or $170,000 for couples.  If you make more than the maximum income you are not eligible for the tax credit.

The tax credit is a real boon for first time home buyers and does not have to be repaid.  If you qualify for the tax credit and have been considering purchasing a new home in Vail there could not be a better time.  Low interest rates, low home values and the first time home buyer tax credit all add up to the right time to call an experienced local Realtor like Gil Fancher, (970) 390-7469.

Resource and for more information: Realtor.org

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!