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.

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.

It is possible to purchase insurance that will keep you from losing equity in your Vail home

Over the years investing in Vail Real Estate has had a solid return.  In general real estate has long been thought of as a great investment but recent years have proven it to be volatile and not as much of a sure bet as in past years.  A company out of California has come up with a solution for anyone who is uneasy about buying a new home and potentially losing money in it.  For 1% of the value of your home you can purchase insurance that assures you that you will not lose value in your home.  If recent events have you worried about losing equity in your Vail home this insurance may spark your interest.

Working Equity Inc., is, essentially, selling insurance that guarantees that when you sell your home you will get the value of what you bought it for even if it sells for less.  There are a few hitches, you have to own your home for at least 2 years and it must be your primary residence.  Working Equity is selling peace of mind in an unstable market place, something many people are willing to pay 1% for.  If you own real estate in Vail and want peace of mind this type of insurance is there for that reason.

For more information on a unique guarantee for your home, click here.

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!

Low mortgage rates have been helpful in improving Vail real estate sales

Keeping mortgage rates low is helping to stimulate Vail real estate as well as real estate across the Country.  For the past few months the public and private sectors have been putting their heads together to get our Country out of the mess we are in and real estate and lending have been the primary focus.  The lowering of mortgage rates and keeping the interest rates low has been playing a major role in turning real estate around and getting potential home buyers off of the sidelines and into property.  Low mortgage rates are helping keep the cost of buying Vail real estate low, enticing people to buy property.

Mortgage rates have been holding at historically low rates.  The current average rate for a 30 year fixed mortgage is 5.12%.  The average rate for a 15 year fixed mortgage is 4.69%.  A recent article at Realty Times points out “Low rates contributed to existing home sales rising for the fourth consecutive month to an annual pace of 5.24 million in July, the most since August 2007, according to the National Association of Realtors.”

There is a drive to continue to keep mortgage rates low as the low rates appear to be doing the trick as the real estate sales volume continues to increase in Vail and across the Nation.

For more information about mortgage rates visit Realty Times by clicking here.

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!

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!

Take your time and know what you are doing before buying your first home in Vail

It is a great time to by a first home in Vail Colorado.  Not only are Vail Valley home values down and mortgage rates at historic lows but the First Time Home Buyer Tax Credit will give you 10% of your home’s value (up to $8,000) at closing.  These three items can add up to significant savings for the first time home buyer, making it an ideal time to start looking at real estate.  However, there are important things to keep in mind before buying your first home in Vail, to make sure this important decision is the right one for you and your wallet.

• Get Information.  Most communities offer free seminars for first time home buyers.  There are also non-profits that offer helpful advice and information.  Visit www.HUD.gov for helpful tips and a list of agencies near you that have free information available.
• Know What You Can Afford.  Analyze your monthly budget.  A good rule of thumb is that your mortgage should be 28% of your expenses or less to be successful financially.  Remember to factor in home owners insurance and property taxes into this scenario.
• Talk to a Lender. Start talking with a bank or mortgage lender and get the ball rolling.  The process of being approved by a lender is a longer process these days and you want to make sure that you get approved before the First Time Home Buyer Tax Credit expires on November 30.
• Find a Real Estate Professional.  Finding the right real estate agent to work with can make your deal run that much more smoothly.  A good real estate agent will help find you a home that works for you, not against you.  A good real estate professional can also help you find a good lender if you have had a hard time during that step.
• Know What You Are Committing to. During a real estate deal you are signing a lot of papers.  Know what you are signing.  If your real estate agent is having a hard time explaining things to you you might want to take the extra step and get a real estate lawyer to review your documents.

When it comes to buying your first home in Vail, you want to make sure your are buying something you can afford, something located in a neighborhood you want to live in and, most of all, a place that you want to call home.  Take all of the information and advice you can get, filter and decipher it and make the best decision for you.

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!

The key to success in purchasing a home is buying what you can afford

If there is one thing we can take away from the real estate meltdown it is a realization of the importance of purchasing something you can afford to purchase, as opposed to purchasing something you would like to purchase regardless of the cost.  Buying real estate in Vail is no different.  The days of no-doc loans and leveraging your assets to the hilt are gone.  In today’s Vail real estate market, whether you are buying a primary residence or a second home, it is more important than ever to borrow what you can afford, no more.

According to an article at Yahoo Real Estate, “Mortgage lenders generally use a ratio of 36 percent as the guideline for how high your debt-to-income ratio should be. A ratio above 36 percent is seen as risky, and the lender will likely either deny the loan or charge a higher interest rate. Another good guideline is that no more than 28 percent of your gross monthly income goes to housing expenses.”

Keeping the percentage at 28% or lower can only improve your financial situation.  Take a good hard look at your finances, look at your income and look at your expenses, both fixed and other spending habits.  The most important thing is to be honest with yourself, avoid the adage of the “eyes being bigger than the stomach” and accept what you can afford in the current Vail real estate market.  In the long run you and your bank account will be better off for being realistic.

Click here and find helpful information on calculating an affordable mortgage at Yahoo Real Estate.

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!

It's a great time to invest in luxury real estate in the Vail Valley

The news is more and more positive across the Country and in Vail Colorado, home prices have risen for three straight months and the number of sales have increased for four straight months.  Great news?  Any positive news is great after the real estate market our Nation has been weathering.  However, real estate values are hardly skyrocketing and, while increasing, sales volume is hardly knocking homes off the shelf.

It is a buyers’ market in Vail, there is no doubt about it. The buyers getting the best deal are those buying luxury real estate.  Luxury homes have had the biggest drops in pricing and for those with deep pockets the savings can be tremendous.

A recent article in the Wall Street Journal points out the significant drop in price among luxury real estate.  Data is showing that while mainstream home prices are stabilizing, luxury real estate, homes selling for $2 million or more, are dropping their asking prices an average of 14%.  The article states, “Bottom line: At the high end, it’s a good time to be shopping for that dream home.”

If you have been dreaming of luxury real estate in the Vail Valley and have the money, this could be the time to make your dream come true.

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!

Click here to visit the Wall Street Journal article “Seeking Real Estate Bargains? Try Looking at the High End”.