WASHINGTON (MarketWatch) – Sales of new single-family homes in the U.S. climbed to an annual rate of 372,000 in July from 359,000 in June, the Commerce Department said Thursday. Sales in June revised up from an original reading of 350,000. Economists polled by MarketWatch had forecast new home sales to rise to a seasonally adjusted 365,000 last month. The biggest increase took place in the Northeast, where sales rose nearly 77% after falling 55% in June. Sales also rose 7.7% in the Midwest. In the South, sales declined by 1.6% and purchases fell 0.9% in the West. New home sales are 25.3% higher compared to one year ago. The median price of new homes, meanwhile, dropped 2.1% to $224,200 last month from $229,100 in June. And the supply of new homes available for purchase on the U.S. market fell to 4.6 months at the current sales pace from 4.8 months in the prior month. The combination of faster sales and a slow rate of construction resulted in the number of new homes on sale falling to a record low of 142,000 in July.
Archive for August, 2012
With Epic Discovery, summer in Vail will never be the same! Vail Resorts is creating an entirely new summer experience where adventure, education and nature balance and elevate one another.
Launching in 2014, Epic Discovery is designed to connect kids and families with our national forests in an active, fun and engaging way. Vail Resorts, the largest ski company in the United States, will work with The Nature Conservancy on interpretive aspects of the eco-discovery experiences. The proposal includes a number of new activities, Game Creek and Front Side Zip Line Tours, Adventure Ridge Challenge Tour, Micro-Interpretive Centers for Education, More Hiking and Mountain Biking Trails, Family Forest Adventure Park, Forest Flyer™,Game Creek Deck and Lookout Tower, Segway Trails and Tours. The extensive environmental and interpretive programming, offers everyone unique opportunities to try new outdoor activities, challenge themselves physically, discover an appreciation for nature and create lasting family memories.
Click below to visit the Epic Discovery Website:
By Jeffry Bartash
By Steve Goldstein
WASHINGTON (MarketWatch) — Sales of existing homes climbed 2.3% to a seasonally adjusted annual rate of 4.47 million in July, the National Association of Realtors reported Wednesday, coming in roughly in line with the 4.5 million consensus. The median price of existing homes climbed 9.4% year-on-year to $187,300, and inventories rose 1.3% to 2.4 million units, representing 6.4 months of supply.
Some Americans are still jittery over the housing market, but here are eight positive signs that should quell some of their fears.
- Housing prices are on the rise across the country.
- Foreclosures have slowed. Analysts suggest that as the supply of distressed homes slows, buyers will be forced into higher-price properties too.
- Inventories of for-sale homes on the market are decreasing. In fact, inventories of for-sale homes have dropped 24 percent from a year ago.
- Mortgage rates are at ultra record level lows, for those who can qualify
- Housing starts rose 6.9 percent in June. Also, existing-home sales were up 4.5 percent higher in June compared to one year ago.
- Home building stocks are on the rise.
- For investors who are buying homes, rents are soaring, allowing them to cash in on their investments. Rental prices are at a 10-year high as median units rent for $710 a month.
- Home affordability is at record highs for the median income family, due to falling home values and super low mortgage rates. In fact, a recent study found that it is cheaper to buy a home than rent in basically ever major city in the U.S. For those who buy, you can save the cost of renting by owning the home for five years or less.
But while the signs point to a housing market on the mend, some Americans still remain hesitant. Many Americans are still underwater on their mortgage, owing more on their home than it is currently worth. Also, the economy continues to weigh on the recovery, particularly a dampening employment outlook, which analysts see as tied to housing.
Still, The Wall Street Journal concludes in a recent article that if you take into account all the positive signs lately in the housing market, “housing presents an attractive long-term investment that should hold steady or even have upside surprise in the short term.”
Scout the Stage Citizen’s Ride Offers Preview of USA Pro Challenge Stage 4 Route to Beaver Creek Finish Aug. 23
BEAVER CREEK, Colo. (Aug. 3, 2012) – Vail Valley cycling enthusiasts have the unique opportunity to ride part of the USA Pro Challenge Stage 4 course for the Scout the Stage Ride on Thursday, Aug. 23, just prior to the pros who will ride the same route a few hours later. Citizen riders can choose to start from either Leadville or Minturn and will finish in Beaver Creek Village, crossing the same finish line as the pros.
Scout the Stage allows a maximum of 400 riders to have the chance to experience a race-like ride through the gorgeous Rocky Mountains, along the official race route without the actual pressure of competition. Cyclists who start in Leadville will ride the 40-mile course, tackling the UPC King of the Mountain climb up and over Battle Mountain before descending into Minturn, where hoards of fans are expected and a special Farmer’s Market will take place as the route continues up to Beaver Creek. The Minturn start provides an 11-mile course and all 400 riders will have the special privilege of powering past thousands of race fans who will be lined up alongside the course to cheer on the pros.
The last 300 meters of the Beaver Creek climb will be on a closed course up and through the adorned USA Pro Challenge finish line. Scout the Stage riders then can explore the event Expo area and participate in the many activities planned throughout the afternoon in Beaver Creek Village as they await the finish of the top riders who are expected to cross the finish line between 3:30-3:50 p.m.
Scout the Stage Route Options:
Leadville 40-mile course: 10 a.m. start. Estimated finish between 11 a.m. – 2 p.m. depending on ability.
Minturn 11-mile course: 11 a.m. start time. Estimates finish between 11:30- 2 p.m. depending on ability.
Rules: The Scout the Stage ride will be a mass start ride at official sprint lines in Leadville and Minturn with a neutral escort out of both start towns. After the neutral start the ride will revert to a rules of the road ride on open roads until the finish line in Beaver Creek. The last 300 meters of the ride will take place on a fully closed course.
Registration for Scout the Stage is $100 and space is limited to 400 riders. All participants will receive a limited edition Scout the Stage jersey and a gift bag. For details and to register visit www.beavercreek.com/ScouttheStage. For complete details on all of the events and activities taking place at Beaver Creek during the USA Pro Challenge on Aug. 23, visit www.beavercreek.com.
Welcome to my July Homestead/South Forty/Old Edwards Estates Real Estate Market Update.
The 2012 Homestead market is tracking slightly above the 2011 market, indicative of an “L” shaped recovery. Click on the link below for the latest market update, current listings, and 2012 sales.
Managing Broker, Prudential Beaver Creek
On Monday afternoon, our wonderful friend and companion, Sadie, a flat coated retriever mix, passed away. Sadie was 16 years old and had been a part of our household for over 14 years. She managed to leave on her own terms. We had finally decided to have the vet come visit and help Sadie along. However, about an hour before the vet arrived, Sadie, surrounded by friends and family, took a big stretch, looked at Kim for the last time, and quit breathing.
Sadie was never “just a dog.” She was a gentle soul who loved everyone unconditionally. She loved her walks, was a great hiker (summitted several 14ers), a hunter, and a lover. She left us with many, many wonderful memories. We buried her in the Nottingham Family Pet Cemetery in Avon next to her good friend Bonnie. It is a beautiful spot near the Eagle River. There is a photo below of the sun setting over her grave. She will be sorely missed. I am a better person for having had Sadie in my life.
The photos below clearly show how much Sadie was an important part of our family. The bottom photo was taken recently. It shows Molly looking for Sadie, her soul sister, at the top of Mt. Sherman in Colorado. We know she is out there somewhere.