Posts Tagged United States

Sales of new U.S. homes climb in July – MarketWatch


 

By Jeffry Bartash

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.

 

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Sales of existing homes climb 2.3% in July – Marketwatch


 

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.

 

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8 Signs Housing Is on the Mend


 

Some Americans are still jittery over the housing market, but here are eight positive signs that should quell some of their fears.

  1. Housing prices are on the rise across the country.
  2. Foreclosures have slowed. Analysts suggest that as the supply of distressed homes slows, buyers will be forced into higher-price properties too.
  3. 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.
  4. Mortgage rates are at ultra record level lows, for those who can qualify
  5. 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.
  6. Home building stocks are on the rise.
  7. 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.
  8. 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.”

 

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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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Nolan Lake Outside Fulford – A Fun, Moderate Hike


Last weekend, Molly, our 8 year-old lab mix, and I hiked to Nolan Lake south of Fulford outside of Eagle, Colorado. The lake sits about 11,250 ft.

Molly lives to hike.  This was our first true outing this summer so she bounded around like a puppy.  This is a good hike for dogs because there is plenty of water along the trail.

This is a little early to make this hike but with the low snow winter we had the trail was nearly free of snow.  We made it to the lake in a little over an hour but we pushed hard.

The lake was spectacular and views down valley beautiful.  I highly recommend this hike to anyone wanting to make a relatively moderate hike to a high alpine lake.

 

 

 

 

 

 

 

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US Pro Challenge, Aug. 23 – Host City Highlight: Beaver Creek


Host City Highlight: Beaver Creek
Stage 4 Finish, August 23
Beaver Creek is set to host the Stage 4 mountain finish of the USA Pro Challenge Aug. 23. The intimate village setting nestled at the foot of the mountain’s formidable slopes combines a grand backdrop for competitors and for the thousands of spectators expected during the race. Beaver Creek is a place where people come together to relax and enjoy the sheer beauty of the area. Known for its commitment to service, family offerings, and culinary delights, the resort’s luxurious yet laidback mountain lifestyle blends the best of all worlds creating an experience that keeps you coming back for more.
Spirited adventures for every level of thrill seeker are available at Beaver Creek. From guided nature hikes to all-out heart pounding competitions, activities exist for all ages and ability levels. Ride the chairlift and hike Royal Elk Trail to Beaver Lake for a picnic. Test your mettle at Tough Mudder in June 2012 and earn bragging rights at the office for finishing. Or, watch top competitors vie for victory at the XTERRA off-road triathlon in July. Cheer on some of the world’s best long distance runners as they compete in the multi-day TransRockies run. Follow them through the Rockies or greet them at the finish in Beaver Creek in August. Local mountain bike and trail running series offer a great way to acclimate to the mountains and try your hand at new competitive sports. Peruse the summer events calendar at http://www.beavercreek.com and for those who are serious about sports, start training now!
If a more relaxed activity sounds more appealing, absorb the sensational summer scenery at Beaver Creek on a scenic chairlift ride. The Centennial Express Lift provides amazing views of Beaver Creek and the entire valley in colorful bloom. Bright Colorado sunshine delivers crisp endless views from Spruce Saddle, stretching to the east and north including the Gore Range as well as to mountain tops to the west. Lawn sports and activities are available and a disc golf course provides yet another way to play outdoors under the warm skies. Summer pricing will be announced in the coming months.
Beaver Creek is also home to three championship golf courses; The Beaver Creek Golf Club located right in Beaver Creek and Red Sky Ranch Golf Club which features the Greg Norman Golf Course and the Tom Fazio Golf Course located seven miles west of Beaver Creek.
Beaver Creek is located in the central Rocky Mountains of Colorado, just 120 miles west of Denver and just 20 miles east of Eagle off of Interstate 70.  Be sure to visit http://www.beavercreek.com for details about 2012 summer events and packages.

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Vail Valley Annual Highway Clean-up Day – A Fun and Productive Way to Spend the Morning


Kim and I participated in the Vail Valley Annual Highway Clean-up day last Saturday.  What a great way to spend the morning.  We joined the Prudential crew at mile market 156 just west of the Wolcott exit.

It is a little intimidating picking up trash with 18 wheelers wizzing by at 75 MPH.  Most drivers are very courteous and slow down in respect for the workers.

It was also a beautiful day.  You really never know what you are going to find.  Very few treasures but lots of bottles, cans, auto parts, and some unmentionables.

There is a party afterward where everyone shows off their most interesting finds. We came in second this year with our discovery you can see in the photo below.

It was a fun day spent with some great folks.

 

 

 

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Pending home sales up 4.1% in March to 23-mo. high (Marketwatch)


By Steve Goldstein

WASHINGTON (MarketWatch) — An index of pending home sales climbed 4.1% in March to reach the highest level since April 2010, the National Association of Realtors said Thursday. The index rose to 101.4 in March from an upwardly revised 97.4 in February, which represents a 12.8% gain from March 2011. February’s pending home sales index was initially reported to be 96.5. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Sales of existing homes during the first quarter were the strongest in five years, and the trade group said the pending home sales data suggests the second quarter will be equally good.

TMN Comments:  Interesting article.  We are actually seeing the same trends in the Vail Valley.  Our Under Contract properties for the 1st quarter are nearly 30% higher than the number of properties that went under contract in the 1st quarter, 2011.  I attribute this activity to 4 things:

1.  Pent up demand.  People are still getting married and having kids. 

2.  Record low interest rates.  You can get new financing (assuming you qualify) for about 4%.

3.  General perception that we have hit the bottom in the local real estate market.

4.  The large number of distressed properties hitting the market.

It is still a rough time for sellers and will continue to be difficult until we flush out the distressed properties. 

 

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Beaver Creek confirmed as finish for Stage 4 of USA Pro Cycling Challenge in August


We are really excited about having the pro racers finish in our little Beaver Creek Village.  I’m not sure exactly where the finish line will be but I’ll be up here to watch the climax.

By RealVail
April 6, 2012

Contenders for a stage win during the fourth day of competition at the 2012 USA Pro Cycling Challenge will need to remember to keep some leg and lung power reserves in the tank as Beaver Creek Resort today identified the route for its Stage 4 mountaintop finish. The stage will take place on Thursday, Aug. 23, day four of the week-long 2012 edition.

The day’s stage, a 97.2 mile route to Beaver Creek from Aspen, includes 75 miles of climbing at altitudes of 9,000 feet and above, plus a sprint competition, all before landing at the base of Beaver Creek for the final climb to the mountaintop finish.

As the riders approach the finish, they will take a sharp left from Highway 6, dashing south through the Beaver Creek Welcome Gate on their 2.5 mile final climb that rises almost 1,000 feet to the finish line, which will be located just beyond the skier bridge at 8,100 feet in Beaver Creek Village.

“Beaver Creek’s mountain top finish promises to provide not only thrilling racing action,” offered Doug Lovell, chief operating officer of Beaver Creek Resort and president of the Beaver Creek Resort Company board, “but we also expect that this will be one of the largest crowds of the mountain stages, given our close proximity to the Front Range. With so many avid cycling fans in our community, we’re incredibly excited to host this stage, while also providing race fans with the resort’s signature hospitality and an enhanced Expo area that will contain events and activities leading up to and following the race. This is a day not to be missed in the Vail Valley.”

Beaver Creek Mountain will provide a stunning backdrop as riders climb past the Beaver Creek Golf Club and private homes, with cheering spectators lining every inch of the route. Shortly before the finish line, the route will narrow and riders will need to remain focused on the last 100 yards, crossing the uphill finish line near the Centennial Station skier drop-off point.

“Given the location of the final climb in the grand scheme of the day’s race,” explained Ceil Folz, president of the Vail Valley Foundation, “it will provide not only exciting racing action, but it will also definitely have an impact on who emerges from the stage with the leader jersey.”

Complete details for where to watch Beaver Creek’s Stage 4 finish, events throughout the day and race-day logistics will be released in the weeks ahead. Stay up to date with local race news, including the local poster contest winner, @beavercreekmtn on Twitter or facebook.com/Beavercreek. For more information visit http://www.beavercreek.com/ and http://www.usaprocyclingchallenge.com/city/beaver-creek

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