VAIL VALLEY NEWS AND

VIEWS FOR MAY

Presented By:

Diana Meehan

CRS, RSPS, GRI, TRC, E-Pro

Global Luxury Specialist

Coldwell Banker Mountain Properties

How is the market?

The Vail Valley real estate market is marking fewer closings per month but prices are still rising, although at a slower rate. Prices are staying high due to a lack of inventory. It is simply the law of supply and demand. The number of transactions has indeed decreased dramatically, down 40% from the frenetic highs in 2022. Simply said, inventory is scarce. Some experts suggest the market is normalizing, signaling a more balanced approach between supply and demand. But with a consistent pace of activity and with Land Title Guarantee numbers showing the average price per square foot for a Single Family Home an Eagle County has gone up 8% up this year,  I don’t see much change toward normalizing yet. Homes are being sold, and buyers are actively searching.

Property Tax Notices:

The Eagle County Assessor has published a bulletin putting property owners on notice that property taxes are going to go up dramatically this year. Property values are reassessed every two years on the odd numbered year, so 2023 year’s taxes will be assessed based on property sales data from the period January 1, 2021 to June 30, 2022. This time period was the height of the real estate frenzy caused by COVID, with buyers flooding the market from other areas to have a safe haven in the Vail Valley. Many properties were bid up with multiple offers, increasing values dramatically and property taxes will reflect this. The new valuations will be mailed May 1st. Property owners can appeal their valuation starting May 2nd. I encourage you to appeal your valuation.

Click above to View LUXURY statistics for Vail.

Click above to view RESIDENTIAL statistics for Eagle County

LOCAL NEIGHBORHOOD STATISTICS

744 Founders Avenue, Eagle Ranch

5 Bed / 5 Bath / 3,753 Square Feet | $1,289,000

This Village Home in Eagle Ranch boasts 4 bedrooms with unobstructed views, a 3-car garage with a 1-bedroom apartment renting for $1,700 per month, 5 bedrooms, 2 kitchens, 2 laundry rooms, and recent updates. It's a rare find situated opposite an open space with beautiful views.

138 Juniper Ridge Road

Cordillera Valley Club

5 Bed / 1.5 Bath / 5,504 Square Feet | $7,000,000

This new construction in Cordillera Valley Club boasts 180-degree sunny and south-facing views, Mountain Modern architecture, and luxurious amenities including a freestanding soaking tub, radiant heated flooring, and wet bar. With 5 en suite bedrooms, multiple living areas, and an outdoor living deck, this stunning home is designed for multigenerational living and built by experienced builder Summit Habitats.

Spring Runoff is Here!



As a homeowner in, dealing with water penetration and potential flooding concerns can be a major headache, especially in the high country. The region is known for its snowfall and precipitation, which can sometimes result in water damage in homes. In this post, we'll provide some tips on how to deal with water penetration in your home and how to prepare for potential flooding.

1. Identify the source of water penetration: The first step in dealing with water penetration is to identify the source of the problem. This can be done by inspecting the exterior of your home for any signs of damage, such as cracks or gaps in the foundation, missing or damaged shingles, or damaged gutters. You can also look for signs of water damage inside your home, such as water stains or discoloration on walls or ceilings.
2. Fix the problem: Once you've identified the source of the water penetration, you'll need to fix the problem. This may involve repairing cracks in your foundation, replacing damaged shingles or gutters, or sealing any gaps or openings in your home's exterior.
3. Consider waterproofing: If you live in an area that is prone to water penetration, you may want to consider waterproofing your home. This can involve applying a waterproof coating to your foundation, installing a drainage system around your home, or using waterproofing materials in your basement.
4. Keep gutters and downspouts clean: Keeping your gutters and downspouts clean and free of debris is an important step in preventing water damage to your home. This will ensure that rainwater is properly directed away from your home's foundation and walls.
5. Create a flood plan: If you live in an area that is prone to flooding, it's important to create a flood plan. This should include identifying the highest point in your home, moving valuable items to a safe location, and having an emergency kit on hand.
6. Purchase flood insurance: If you live in an area that is prone to flooding, you may want to consider purchasing flood insurance. This will provide coverage in the event that your home is damaged by a flood.

In conclusion, water penetration and potential flooding concerns can be a major headache for homeowners in Vail, Colorado. By following these tips, you can help prevent water damage to your home and be prepared in the event of a flood.