Posts Tagged Business

Interest Rates Continue at Historic Lows


Interest Rates

The chart above tracks interest rates over the past 200 years.  We are experiencing interest rates nearly as low as anytime over that period of time.  Our challenge is making those rates available for the average home purchaser.  We continue to see underwriting guidelines that penalize the home buyer with relatively solid credit, good income, and sufficient cash for a down payment.  Lenders obviously got burned during the recession but they are turning away good business.  It makes no sense.  I don’t see the housing market making a strong recovery until lenders change their lending practices.

In the meantime, those buyers who can qualify for a mortgage will get an incredible deal.  Kim and I are considering refinancing again after refinancing just last year.  I’m a firm believer in the quote “It’s not the price but the terms” and the terms are pretty good at the moment.

Thanks to Devon DeCrausaz, Branch Manager & Vice President at MegaStar Financial Corp for use of the chart.  MegaStar is one of the few lenders with common sense lending practices.

www.MegaStarVail.com

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Vail Valley Real Estate Market Update, November 2012


Welcome to your November Real Estate Market Update.  Our local market is finally transitioning from a buyer’s market to a more traditional and balanced market.

In addition to my update on the overall real estate market, this report contains stories on:

Click on the link below to view the market update.

Market Update, November 2012

Vail and Beaver Creek Ski Resorts are now open.  Here’s hoping the storm forecast for early next week brings plenty of snow.

 

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Bachelor Gulch Real Estate Market Update, November 2012


Welcome to your November Bachelor Gulch Real Estate Market Update.  The recovery continues in our local market.  We will see an increase in activity for Bachelor Gulch in 2012 compared to 2011.

In addition to the latest BG real estate stats and trends, the market update contains stories on:

  • Warren Buffett makes a huge bet on the US Housing Market
  • Absorption Rate drops below 10 months for the overall real estate market in the Valley

Click on the links below to view the market update and the current BG condo and town home listings and 2012 sales.

Market Update, November 2012

Listings & Sales, November 2012

Beaver Creek opened on Wednesday to a beautiful day.  We can use some more snow and a storm is forecast for early next week.  Here’s hoping for a dump!

 

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Beaver Creek, Colorado Real Estate Market Update – October, 2012


Welcome to my October Beaver Creek Real Estate Market Update. We had a strong third quarter in the BC market.

In addition to the latest BC real estate stats and trends, the market update contains stories on the condition of our overall Valley real estate, which is red-hot in the under $500k market.

Click on the links below to view the market update and the current BC condo and town home listings and 2012 sales.

BC Market Update, October 2012

BC Listings & Sales, October 2012

Terry Nolan
Managing Broker, Prudential Beaver Creek
Director, Vail Board of Realtors
Terry@TNolanProperties.com
Prudential Colorado Properties

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Edwards Real Estate Market Update – July, 2012


 

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.

Edwards Market Update, July 2012

 

 

 

Managing Broker, Prudential Beaver Creek

 

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Bachelor Gulch Real Estate Market Update – July, 2012


 

Welcome to my July Bachelor Gulch Real Estate Market Update.  Activity in 2012 continues to track ahead of 2011.  We are definitely experiencing an “L” shaped recovery.  But at least it is a recovery.

In addition to the latest BG trends and stats, this issue contains information on:

  • Update on Eagle County foreclosure filings and sales
  • Overall Eagle County Real Estate activity, which is red-hot in the lower end of the market.

Click on the links below to view the market update and the current BC condo and town home listings and 2012 sales.

Market Update July, 2012

Listings & Sales July, 2012

Summer is well under way.  The few rain showers we received over the past couple of weeks have been a relief.  We are still very dry but a few sprouts of new green grass have been spotted throughout the Valley.

 

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New Prudential Real Estate Poll: Americans Increasingly Optimistic About Homeownership


Prudential Real Estate released a new national survey at Sales Convention showing that Americans are significantly more optimistic about homeownership than they were a year ago.

According to the second-annual Prudential Real Estate Outlook Survey, a full 60 percent of Americans have favorable views toward the real estate market. That’s up 8 points since last year.

The survey shows that signs of increasing optimism are widespread:

  • With interest rates at historically low levels, 96 percent agree or somewhat agree that now is a good time to buy.
  • A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.
  • 63 percent believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.

The survey confirms that despite the recession, homeownership remains a central part of the American Dream. Eight in 10 respondents said homeownership is very important to them; only 15 percent said the economic downturn made homeownership less important.

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