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I WILL SPECULATE because it is annoying when someone jumps to conclusions too quickly and says to me, ’it’s a buyer’s market now’, or ‘values are going to tank’. No. Just, settle down. I believe the new level of inventory will have the most common effect: it will cause price competition among sellers, resulting in less aggressive list prices and, finally, negotiability for buyers. I suspect the absorption will be strong enough to avert softening. And YOY market value will not decline. Already, the data is illustrating that house-hunters are buying into the new inventory. Over the last 60 days, while 297 units were going on market, 125 units went under contract. That is a very healthy absorption rate, and it continues to illustrate perpetual demand and thus the high investment quality of ownership.
A LOOK AT THE INVENTORY I spend a lot of time helping people buy property. For a long while I've been digging under rocks and knocking on doors. Recently, it has been nice to wake up each day with some tasty new items on the menu. I have scanned all of it and here is a look at my selections of the better properties in each area...
BANDONI'S BEST OF...
TOWN OF VAIL | VAIL-LH VILLAGES | BEAVER CREEK RESORT | MID-VALLEY
MTN STAR-LAKE CREEK-CVC | CORDILLERA HILLS | DOWN VALLEY
ON THE INSIDE | I have noticed that many of the new listings are in original and/or dated finish condition. A well-located property is a worthy renovation investment which is why several of those have made my list above. This made me think about two of my long-time buddies who own construction companies. And if you need to contemplate a reno, you will want to know them, too.
Ted Leach | Vail Custom Builders Indeed Ted builds custom homes from the ground up, but he also performs renovations on a medium to large scale. From Vail Village to rural ranches. Pete Geyer | Geyer Construction Company Pete specializes in renovations from the small to large scale. He has an impressive Beaver Creek condo/townhome track record. Both companies provide hands-on, personal service and they have impressive portfolios.
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