AS GOOD AS DIRT IS GONNA GET

130 COYOTE PLACE, COTTON RANCH, GYPSUM, COLORADO

If you have been waiting for the right price for a spot to build down valley, this lot just may be the spot for you. Located in Cotton Ranch, on the golf course, with big views of the surrounding mountains and Gypsum Creek, this .56 acre lot is perfect for your dream single family home build. The address is 130 Coyote Place, lot 162, and it is just a five minute walk to the fabulous golf clubhouse and all it's amenities. It's been four years since lots this size have been priced like this. At $139,000 this is the biggest and most affordable piece of land to build your dream Colorado mountain home. Call Larry Grossman today at 970-376-1244 for more information.

PROPERTY VALUES BACK TO 2002 PRICING

This fact has been discussed in great detail for months amongst industry professionals. Where do we stand from a pricing standpoint? Well, reports from today say that property values have gone back to 2002 pricing which on average means the majority of properties out there have lost a full third of their value from just a couple of years ago. A frightening prospect indeed for those of us who had a nice litlle nest egg stashed away in our home values, but the reality today. Don't believe it? Try listing your home at 2007 prices and see if you even get a sniff from a buyer, it just won't happen.

THE REALITY OF SELLING A SINGLE FAMILY HOME IN EAGLE AND EAGLE RANCH.

I think it is clear after months of struggling home sale numbers in the Eagle and Eagle Ranch markets, that if you truly need to sell your single family home quickly, and at this point quickly can be defined as within three to four months, that your square footage price is going to absolutely begin with the number one, and not anything higher. This of course is my personal opinion, however, this is based on the facts that the average days on market in this market is currently 245 days. There have been three properties closed in this same market since the beginning of the year, this is out of 180 listed properties. This is quite the reality check for sellers and property owners at this point. I have had many listing appointments during the last couple of months and when potential sellers hear it's gonna take a list price somewhere between $150-$175 sqft. well, the reaction is never very positive, but this is what it will take to even get your single family property shown at this time. The outlook for sellers does not appear to look like it's going to change for quite some time either. However, if you are a buyer, and can find properties which are in a situation where they must be sold, this is a great time to shop for bargains.

EAGLE RANCH SHORT SALES BECOMING COMMON

101 FOXGLOVE LANEAt $185/sqft, this home is a very good value if you are currently in a position to buy. Being a short sale, all offers are subject to Bank approval, but they will look at any offer. 5 Bedrooms and 6 Baths in this 4473 sqft. beauty. Great Castle Peak Views, Gourmet Kitchen Wolf Range, Sub Zero, Slab Granite Throughout, Full Bar in Basement,Two Laundry Rooms, Large Storage Area Above Garage, Walnut Hardwood Floors. Call 970-376-1244 for more info today

WHY HAS MY HOME NOT SOLD?

So your home has been on the market for sometime now and you've had very little activity. Well, I think at this point it is safe to say we are pretty deep into a buyer's market. Many of you trying to sell are still in denial about what your property is actually worth. Is your agent being honest with you when discussing the issues or is everyone just sitting there with the "wait and see" philosophy? If so, here is a list of reasons you may still be sitting on your property as new mortgages numbers begin to head upwards.

1. It's obvious your property is overpriced, sit down and have a frank discussion with your realtor about what price your home will sell for today.

2. Your home does not show well, a good realtor can help you with staging your home for sale.

3. Your home is not in a very desirable location, what you perceive is not always what a buyer perceives

4. Your listing agent is not doing all they can to sell your home.

5. You have very stiff competition and many other listings in your area.

6. Ineffective Marketing, is your agent doing everything they can to get your home's information out there? It's a new world out there when it comes to marketing, especially with Internet options today.

If you need help with any of these issues, or just need a fresh start and approach to selling your home, call Larry Grossman today at 970-376-1244.

WE ARE NOT IN A RECESSION, WE ARE AT THE BEGINNING OF A BOOM.

If you were wise enough to "see the future" during the past couple of years and were wise enough to save your nickels and dimes as an investor for when "leaner" times arrived, you are now in an absolute perfect position to start shopping for quality properties which are much more affordable than they were just 12 months ago. Cash is king right now, and if you are in a liquid position today, it's time to start keeping your eyes on listings that continue to drop their prices at what is becoming both an alarming but also realistic rate. Much better deals are on the horizon for qualified buyers and if you are wise now is the time to get involved with a realtor who knows his or hers local market as well mas information that may help you find the dream house at a price which can't be beat. Call Larry Grossman today to find these properties in the Vail Valley at 970-376-1244

SOME PRICES HAVE HIT BOTTOM IN EAGLE AND EAGLE RANCH?

There is suddenly a bit of a trend in the Eagle and Eagle Ranch area. Properties which have had their listing prices dramatically reduced, and I'm talking 25-35% of their original asking prices are beginning to move. Several have gone under contract in the past month. Buyers are sensing that the "bottom" may be near on these properties that are truly great values and rather than wait to see if things are going to move even lower, they are smart, and they are snatching up these great values instead of waiting too long and then asking "what if" down the road. It is inevitable that we will see more of these downward pricing trends on properties that are still over priced for this market. Now is the time to keep attentive and smart, pay attention to price reductions everyday and be ready to pounce on the next great opportunity on your dream home here when opportunity knocks. Now is the time to buy and sellers who think this market is going to come back quickly and that prices will one day come back to where they were two years ago have got some surprises in store. To stay on top of the latest trends and keep posted on potential short sales in Eagle Ranch, contact Larry Grossman today at 970-376-1244 or fishlg@netzero.net

IT'S HERE, AND IT'S REAL. HOME VALUES CONTINUE TO TANK...

What a time to be a buyer in the Vail Valley...

Reality is hitting at a brisk and stunning pace here "down valley" these days. If you are a buyer looking to finally purchase a property in the Vail Valley the time has come as the phrases "short sale" and "foreclosure" are finally hitting home here. Large custom homes are beginning to sell for 30-40% below what they were valued at just a couple of years ago as prices and value continue to drop over the edge of the falls. More and more sellers are becoming leveraged and they must sell, whatever the cost. If you are fortuante enough to be sitting on cash right now, you can find your dream home by doing a little research and finding some incredible values here in the Vail Valley. Call me today for more information on exactly what is out there. 970-376-1244

UNDER $300,000 IN EAGLE RANCH...

For the first time in over two years prices have dropped under $300,000 in Eagle Ranch. 530 Founders Avenue, Unit C101 was recently reduced to under this price and is not a deed restricted unit. At this price this unit would make an outstanding investment property or is perfect for the first time buyer. Other units is this complex are priced from $310,000 to $339,000. This makes Unit C101 and incredible value as it has many upgrades including custom window coverings, ceiling fan/light combos, wired for surround sound and antiqued kitchen cabinets. Eagle and Eagle Ranch continue to see prices dropping and short sales in Eagle and Eagle Ranch are becoming more of a common occurance. Buyers get ready! There are now and will continue to be some wonderful values for you today and in the future. For more information on these properties, call Larry Grossman at 970-376-1244 or send him an e-mail at fishlg@netzero.net

THE BRUSH CREEK BUILDING IN EAGLE COLORADO, REBIRTH OF A CLASSIC!

The "new" Brush Creek Building in Eagle, Colorado, right on Broadway in downtown has been not only carefully been "unconstructed", but now stands tall as the signature building in the Old Eagle Downtown core. With the rustic Brush Creek Saloon on the first floor, exceptionally remodeled from scrtatch to keep it's old traditional feel, and ample office space on the second floor, the building also boasts four incredible loft type penthouses on the third floor which are one or two bedrooms and priced from $340,000 to $427,125. Each unit has unique finishes and offer a great location just walking distance from everything in the downtown corridor. Also available will be nine very large storage units on the basement floor of the building. This exciting new project is now available for purchase. Call Larry Grossman today at 970-376-1244 for information.

The Original Brush Creek....no more.

THE CLASSIC EAGLE RANCH SHORT SALE, 165 LIME PARK DRIVE

165 LIME PARK DRIVE, EAGLE RANCH, COLORADO

Wow, are buyers looking for homes in Eagle Ranch, Colorado going to be seeing some wonderful values in the near future, or how about right now. The "short sale" is no longer a catch phrase in this amazing neighborhood as reality begins to creep into the Vail Valley. With "Breathtaking views, spectacular layout, a refreshingly unique home in Eagle Ranch. Completed in July, this wonderful home combines stunning finishes, mountain elegance, and a touch of imagination that will make it stand out in a buyer's mind. Golf course, unimpeded Castle Peak views, quiet cul-de-sac, and all the amenities of Eagle Ranch. Perfect for the growing family or second home owner!!!

This home was originally listed at $1,225,000 but has been reduced OVER 30% to $799,000 which makes this property a steal at $217/sqft. Keep your eyes fixed right here on the Vail Real Estate blog for more values like this one which will be sure to surface over the next months. What a great time to be a buyer here in the Vail Valley!
Of course on the other side of this short sale coin is the seller. As properties are being leveraged into this short sale position, property owners are beginning to see the substantial price corrections we knew would be coming here in the Gypsum to Vail area. Reality is beginning to hit hard. Homes that are being listed in a short sale situation, and that are not moving quickly, are a reflection of what the actual market value is for the other homes in those areas, which unfortunately for sellers is not very accomodating news. For more information on homes such as 165 Lime Park Drive here in the Vail Valley, contact Larry Grossman today at 970-376-1244 or fishlg@netzero.net

WANT TO BUY REAL ESTATE IN THE VAIL VALLEY?

If you have ever dreamed of buying a piece of real estate in the Vail Valley, which stretches from East Vail all the way down to the small town of Dotsero to the west, and you have the funds, I am going to suggest to you to sit tight for a bit longer as the housing crunch continues to creep into our market, there are certainly going to be some very good values as sellers continue to feel the economic pinch and begin to drop prices of the properties which they need to sell. The trends are definitely falling into place here just like the rest of the country, and all though we are not going to see the same type of percentage reductions here, they will continue to happen and some will be significant creating some great values for you the qualified buyer...call Larry Grossman today or e-mail him at fishlg@netzero.net to keep up to date on the most current price reductions in the Vail Valley.

EAGLE TOWN MEETING, EAGLE RIVER STATION..

Eagle River Station at a glance;

• Mixed use development proposed on an 88-acre tract at eastern end of Eagle, south of Interstate 70• Development team is Trinity/RED Development, based in Kansas City, Mo.• 552,000 square feet of commercial space• 132,000 square foot anchor store• ‘Lifestyle Center’ shopping area featuring Main Street design• 150-room hotel• 581 residential units• $346 million estimated development cost• $62.4 million estimated public improvements cost• New I-70 interchange and improvements to U.S. Highway 6• Public improvements financed with revenue sharing plan.
Can this work in small town Eagle? My concerns are in this economy, who is going to support 550,000 sqft. of commercial space? What retailers are going to be able to make it if the customer traffic does not show up? How are you going to pay employees of this monsterous retail "mall" enough to live in one of the most expensive counties to live in period. Where are they going to be able to afford to live? It's a nightmare when you try to even come close to trying to figure out these basic questions. Yes, the town needs the tax revenue and the infrastructure improvements that will come with the development, but the rest of the actual implementation of the project does not seem to have a chance to work, even in a healthy economy. Ultimately it will be up to the people of Eagle to make the decision. Let's hope they make a logical decision. Nobody making $10 an hour in any of these retail establishments will be able to afford renting much less buying a place in the Eagle area.

REAL ESTATE CORRECTION HAS SOME AGENTS REELING, WHILE OTHERS CONTINUE TO KEEP IT ROLLING

Just Listed today, Founders Place unit C101, Eagle, Colorado The initial response to the current real estate market slowing in the Vail Valley is showing the number of agents dropping at a fairly significant rate. Agents who struggled to find business over the past couple of years are currently hard pressed to find enough business to justify staying active as a real estate agent. This too is part of the economic correction the country is experiencing. I myself have a number of clients who are taking the "wait and see" attitude as they are in a position to wait out the market for the time being. Buyers are still looking for deals, and sellers are still hoping the market comes back so they can regain some of the equity they have lost during the past year or so.

I have decided to "tough it out" and continue to push forward looking for new business where it can be found. Just listed today is this charming 2bd/2bth condominium in Eagle Ranch, Eagle, Colorado. This unit sits next to the heart of "downtown" Eagle Ranch and is a two block walk to the Movie theatre, The Dusty Boot bar and restaurant, Starbucks as well as other establishments. The unit has wonderful views of near by open space as well as Castle Peak. Other amenities within walking distance are fly fishing in Brush Creek, bike paths and an Arnold Palmer designed golf course. This unit was built in 2001 and is in great shape with built in surround sound, custom window coverings and is partially furnished. 25 minutes drive to Vail and 15 to Beaver Creek for world Class skiing. The unit is also ADA constructed. List price is $329,000. Call me today at 970-376-1244 for more information.

102% FINANCING STILL AVAILABLE THROUGH SELECT LENDERS, THE SECTION 502 LOAN

SECTION 502 LOANS

The Rural Housing Loan provides 102% (based off appraised value) financing for borrowers that meet the income and credit guidelines, with NO mortgage insurance.

No out of pocket expenses necessary (102% of appraised value can be borrowed, closing costs and prepaids can be paid via gift, or seller contributions)

Sellers can contribute up to 6% of the sales price towards prepaid items, and closing costs, including rate buy downs.

Section 502 loans are primariyl used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Owner occupied only.

One loan to 102%, no mortgage insurance, and value is based of appraisal, not contact.

Borrower can only own one property.

Applicants for loans may have an income of up to 115% of the median income for the area, as defined below.

115% of Eagle/Summit median income;

1 person household=$61,900
2 person household=$70,700
3 person household=$79,550
4 person household=$88,400

30 year fixed rate is the only loan program available currently however it is below market rates

Max loan size $417,000

Call me for further details....970-376-1244

AVERAGE DAYS ON MARKET IN EAGLE RANCH

The average days on market (ADOM) continues to rise in Eagle Ranch, Eagle, Colorado. It is currently 220 days, which is quite high. This is a reflection of the current market in our area. What does this say about current market conditions? Well, first of all this is a reflection of the fact that many buyers are still trying to sell their properties for prices which are too high. Many still believe they will be able to fetch an offer that they may have seen two years ago. Some sellers are dropping prices moderately and hoping to recieve as high an offer as they see possible. The problem with "fishing" for these offers is that they are just no coming right now. It is imperative to price your property in the area where the buyers are currently "feeding". For instance, if you are fishing out of a boat, and all the fish are dwon deep, does it pay to fish in the most shallow part of the lake? Of course not, there's no fish there! So basically what I am saying is that in order to "catch" the buyers in this market sellers are going have to start lowering thier "bait", or price into the area where buyers are currently seeing value, which is well below what asking prices were a couple of years ago. If you need to sell, your property is going to have to be perceived as a much better value than everything else that is out there, so fi you are selling, be prepared to price accordingly.

BEST PLACE TO RENT SKIS IN VAIL..

FOR ONLY $19.95/DAY

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THE BACK BOWLS OF VAIL MAP

Endless Skiing, click pic to enlarge!

VAIL'S BORN FREE AND CHAIR 8 OPEN FOR THE SEASON

Skiing at Vail has officially opened with the opening of Chair 8 and the Born Free run. Vail opened this past Friday and the skiing has been excellent through opening weekend, trust me on this one folks as I skied Saturday, Sunday and Monday. So get out and go rip some turns!The front side of Vail Ski Mountain

REALITY CHECK HITS EAGLE REAL ESTATE MARKET

"Short Sale", the dreaded words that no home owner wants to hear when it comes to the sale of their home, particularly in the high end neighborhood of Eagle Ranch in Eagle, Colorado. But those very words are now beginning to be murmured amongst the property owners of some of the luxury homes here. What this means is that Sellers are getting desperate here in the Vail Valley just like the rest of the country and we continue to see very significant price reductions. If you are looking for a premium property in the High Country of Colorado, it would be wise to have a savy realtor keep you up to date on all the latest price reductions and possible short sales. For information on these properties, and to keep up to date on the most current information, call Larry Grossman today at 970-376-1244 or shoot him an e-mail at fishlg@netzero.net