Today marked the first day of the ski season in Vail Colorado, with some 160 acres of terrain open for skiers, and snow boarders alike.  While certainly many anticipate more flakes falling and more terrain opening, only smiles were seen on the faces of those carrying their boards on their shoulders walking down Bridge Street at the end of the day.

Get ready for another epic ski season in Vail!  Looking for a Vail Village rental? Vail real estate to buy? Contact me, Gil Fancher, today.  As an experienced Vail REALTOR® I can provide access to all Vail properties currently listed for sale and can help you get to know Vail from a local’s perspective.

Don’t hesitate to call me, Gil Fancher, today at (970) 390-7469, for excellent service and information on Vail Real Estate! Visit www.vailmountainproperties.comfor access to the Vail MLS and all Vail Valley Real Estate listings.

Oktoberfest in Vail Village takes place this weekend, September 17th through the 19th, offering fun for the entire family.  There will be activities for both children and adults, entertainment, food, and of course plenty of beer!

September marks the start of Fall in the Rockies and Vail Village is no exception.  The beautiful backdrop of the Gore Range is a perfect setting for celebrating.  Oktoberfest is a tradition in the Vail Valley and an event not to be missed.

Looking for lodging in Vail?  Contact me today for some of the best lodging opportunities available in our beautiful valley.  If you have been wanting to look at Vail real estate opportunities I have access to all properties currently for sale in Eagle County and will use my knowledge and expertise to help you locate the property that best suits your needs.

Beaver Creek and Vail recently won the bid to host the 2015 World Cup Championship ski races.  The Beaver Creek Resort and its surrounding community could not be more excited.  A new women’s course will be designed for the races, along with other enhancements to the Beaver Creek ski mountain.

Beaver Creek is a world class ski resort nestled in the Vail Valley. With a village center that offers fine dining, fabulous shopping and first class hotels, Beaver Creek has a lot to offer its visitors.  The luxury homes that surround the ski area are well-designed and offer a lifestyle that most spend their lives searching for.

If you are interested in learning more about Beaver Creek and the real estate opportunities that exist here, contact me today.

Finding a mortgage before looking for real estate is a smart idea

The first step in purchasing Vail real estate should be getting a mortgage.  Getting a mortgage, or rather getting approved for a mortgage, lets a buyer know what he can expect to afford when looking at property in Vail.  It is important for a potential buyer to know how to secure a mortgage.

There are any places to look for a mortgage these days.  There are banks, mortgage brokers, finance companies, credit unions and private lenders.  Often experienced Realtors have mortgage brokers or banks that they work with often and using a lender that has a good reputation is often a safe bet.

When looking for a mortgage have a good idea how much you can afford to pay each month.  Look into the past, present and future to determine this.  It is of the utmost importance not to bite off more than you can chew when it comes to your finances and the affordability of a home that you might buy.

When applying for a loan a person must provide documentation of income, expenses, and assets.  Have your financial statements and tax returns ready and the process will be much easier.

Having a mortgage ready to go before finding a Vail Valley property will make the entire process smoother.  Financing is harder to get these days and being prepared is a wise step in the home buying process.

For more information on mortgages click here.

Now might be the best time to lock in a low mortgage rate

Low interest rates have been gracing the Vail real estate market with their presence for the past year but the word on the street is that they won’t be here much longer.  While mortgage rates aren’t going to skyrocket out of sight, it is doubtful that they will decrease and certain that they will steadily begin to rise.

For those wishing to lock in at below 5%, the time just might be now or never (or at least for a very long time).  The first week in January, the average 30 year fixed mortgage rate was 5.09%.  The general sentiment among economists is that rates are not going anywhere but up from here.

The strengthening of the economy equals less chance for discounted rates.  If you want to refinance or purchase real estate in the Vail Valley, now might be the best time to do so.  The low rates make it a great time to purchase Vail real estate.

For more information on mortgage rates click here to look at a recent article from CNNMoney.com.

Take time to choose the right broker when selling your home

When preparing to sell your Vail home it is important to find a real estate professional that will best suit your needs.  A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a Vail real estate broker that is experienced and knowledgeable, someone that will do the best job for you.  When selecting your Vail real estate agent here are a few things to keep in mind:

Data.  Get a prospective Realtor to bring in a copy of what they have listed and closed.  They can present you with an MLS report that displays their inventory.

References.  Get references from a potential Realtor and call them.  Find out what other people’s experience with a particular Realtor has been.

Price.  Get an evaluation of your property.  A solid real estate professional will be able to detail what has been selling and for what price.  He will be able to evaluate your home and your location, giving you a value for your home that will help sell it not deter people from looking at it.

Plan.  What does your Realtor plan to do for you in terms of marketing, sales, listing, etc.  Make sure he has a plan for your house and find out what he is willing to do to get it sold for you.

Real estate is often a person’s most valuable asset.  Do your legwork and choose the best broker for your home.  He or she should be a salesperson.  If they can sell themselves to you perhaps they are halfway to selling your Vail home for you as well.

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.

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.