So, you have been sitting on the sidelines watching the Vail real estate market for the past year and a half, but your still not sure if the Vail markert has bottomed. 

You access the various web sites to see what is selling, you call lots of brokers hoping to glean a pearl or two of free wisdom by telling the unwitting dupes you are a buyer and will use them when you are ready.  You don’t want to miss the bottom but you can’t pull the trigger because that little voice inside you asks “what if you are wrong, what if you make a buy but the market hasn’t bottomed?”

Weeks turn into months, you agonize, second guess yourself, in short you are in paralysis when it come to making a decision.  What to do?  What to do?

Well here is a true acid test for you.  There is a home in Eagle Ranch for sale where the lender will fund 100% of the purchase price, interest only, and after two years the note becomes non-recourse!

MLS# V319866

What does that mean?  It means if after two years, you feel the value of the property has declined below the purchase price you can walk from the note.  That’s right, walk from the note.  Move your furniture out, clean out the closet and just leave.

This offer is about as risk free as you can get.  Just think, you agree to make the interest payments and pay the property taxes for two years.  You get to deduct your interest payments on your tax return and if the value has deceased after two years, you get to walk!

Now what do you do?  100% financing on a beautiful home in Eagle Ranch, if the value is not there in two years can walk away with no recourse.  No worries if you bought before the bottom, you get to buy a premium home before the inventory drys up, and best of all the lender is basically guaranteeing the value will increase or you can give it back if it doesn’t.

5bd, 5.5 bth, 5,600 sq ft, 3+ car garage

Here is your gut check.  If you don’t jump on this deal, your really not a buyer.  If you don’t jump on this deal, do yourself a favor and forget about being a buyer in the Vail Valley.  You will have less stress in your life and will most likely sleep better at night.

In today’s current market determining the value of your property is an interesting exercise.  Let’s start by examining what does not affect the value.  

What you paid for your home does not affect its value.  The cash you need from the sale does not effect its value.  What you want for your home does not affect the value.  The price your neighbor sold his home for does not affect the value.  What your friends think the value is does not affect its value.  What a real estate broker thinks does not affect the value.  What an appraiser, for that matter, says does not affect the value.  So, what does?

In today’s market the value of your home is what a buyer is willing to pay based on how your home compares to others currently on the market. 

Let’s say you have a home that you value at $500,000ish.  Today you would be competing in the Vail Valley/ Eagle County with 94 listings between $475,000 and $525,000.   The present absorption rate of homes in this price range is 2 per month.  This means there is enough inventory on the market today, in this price range, for the next 4 years! 

 The question you need to ask yourself is what will make your property stand out above the others?    Why?  If you don’t stand out, you will just be in the hunt and can expect to be on the market for quite some time. 

How can you stand out?  Find a competent Realtor to help with this complicated answer.

See how your home stacks up with the competition.

Eagle Colorado has many fun restaurants, each with its own feel and excellent food.  After playing golf at Eagle Ranch or biking on one of the many bike trails in the area, swing by one of these fun, family restaraunts to wet your whistle and grab a bite to eat.

Broadway Cafe: (970) 328-7339
Located in the heart of downtown Eagle, the Broadway Cafe delivers great food in a comfortable, historic atmosphere.  Recently remodelled, it retains a charming older feel yet the food is anything but stale!  Sit inside or out, just be sure to go there.  And be sure to try the crabcakes!

The Dusty Boot: (970)328-7002
If something works, don’t change it.  That’s the idea behind The Dusty Boot, now in Eagle Ranch.  A local and tourist success in Beaver Creek for years, the owners just opened this new location and so far, so good.  Located on Capitol St. in Eagle Ranch, this fun, inviting  bar-restaurant has a western feel.  Great for the family and definitely try one of their burgers.

Eagle Diner: (970)328-1919
Try this blast from the past for a new take on an old tradition; the classic American diner!  Located near the bowling alley at 112 W. Chambers Ave,  look for the clock, always stuck on the perfect time to grab a bite.  The breakfasts are the way to go anytime of the day.  Sit at the counter or in a comfortable booth.  Get a milkshake to complete the step back in time.

Moe’s Original Barbeque: (970)337-2277
What can I say!  These guys do BBQ so well, words fail.  But I’ll try.  Everything I’ve eaten here has been awesome; from the pulled pork to the ribs to the smoked turkey, you’ll not be disappointed.  And you must try their side-dishes; baked beans, corn bread, vanilla pudding; yummy.  And for those of you above 21, try some Maker’s Mark straight from the cask!  Located next to the bowling alley.

Eagle is warming up and everyone is excited for summer.   Come on down and check it out!  To learn more about Eagle and all there is to do here, call or email me anytime!

Click here for Great Real Estate Opportunity in Eagle!

First-time homebuyers have until the end of November ‘09 to close on a home to take advantage of the $8,000 tax credit.  If you are a first-time buyer in the Vail Valley, Eagle or Gypsum areas, or anywhere in Eagle County, you need to get off the dime and start looking.  There are lots of great homes (100ish) currently for sale under $300K.   As of today there are approx 15 homes for sale under $200K!! 

How do you qualifiy for the $8,000 tax credit?  In general terms, if you are a first-time home buyer (have never owned a principle residence or have not owned a principle residence for at least three years) you qualify.  If you are single and earn less than $75,000 or if your married and earn less than $150K you qualify.  What’s nice about this tax credit (The American Recovery and Reinvestment Act of 2009) is you do not have to pay the money back! 

Another very nice feature is this is not a tax deduction but rather a tax credit.  A tax credit is a dollar for dollar reduction in the taxes you owe the Federal government.  For instance, let’s say you owe the Federal government $3,000 in taxes for 2009.  With the $8,000 tax credit the government will send you a refund check for $5,000! ($8,000 tax credit, minus $3,000 for taxes owed, leaves a balance of $5,000 refunded to you)

If you plan on living in Happy Valley for any length of time, have been thinking about how you should buy a home, and don’t pull the trigger in the next few months, you will not only have missed the tax credit, you will have missed the best buying opportunity you are going to see for sometime in Eagle County.  So, get going.  Don’t know how to get going or want help to get going, call me.

[The info provided above should be verified by your accountant or financial advisor.]

Spring is in the air in the Vail Valley.  There are currently 16 homes under contract in Eagle and Eagle Ranch, Colorado.  Starting from a loft on the Eagle River listed at $299,000 to a ranch in Castle Peak listed at $1,900,000.

Eagle has become a very thriving community with so much to offer for a first time home buyer (local) and even for a second homeowner.  There are so many great events and such going on in the community.

For more information on Eagle and happenings in the Valley….please contact   Jill Hopkins 970-376-8692 or jill@gatewayland.com and please visit our website www.GatewayLand.com

The Vail Valley corridor is jam packed with exceptional options for all sorts of dining venues.

I have personally been a private concierge/liason for a group out of Kansas City call Luxury Real Estate Investment Partners also called LRIP;LLC.  I have had the pleasure of being able to try a whole bunch of different dining spots thanks to my private concierge business.

The wonderful part of the Valley is that each town/area has great options to choose from.  Here are some of my favorites…

In Vail LOVE, LOVE, LOVE  Sweet Basil, Terra Bistro and La Tour.  All have great wine lists and wonderful atmosphere!   Terra Bistro has a spectacular sunday brunch. 

In Minturn..The Turntable,  the Saloon and Chili Willis are my top favorites.  Turntable for breakfast, the Saloon for apres ski and or hike up grouse creek trail and Chilli Willies for some great MEXICAN!   All nestled in the killer little town of Minturn.

In Avon Vin 48, Fiesta Jalisco, and Outback.  Vin 48 is always doing deals and has a really cool bar to eat from.  Fiesta Jalisco has mexican and has the best cabbage and salsa stuff around.  Outback is just a fun little taste of the city.  Up the hill in Beaver Creek holds some exceptional dining options too.  Splendido in the Chateau at Beaver Creek is always a five star experience.  Toscannini at the Black Family Ice Rink is fantastic too.  Great Salads!

Edwards has a plethora of places to choose from.  Woody’s, E-town and Dish are my top three pics.  Woody’s is your typical small town pub.  Woody makes a MEAN fish and chips.  Try the “Skinny Oprah” drink if you like adult beverages.  E-town has pretty much something great to offer every nite.  Sports, music, good times and yes…excellent food.  Dish is an extremely interesting dining experience.  They have great tasting menu’s and so much to choose from.  It is truely a unique experience.  The staff is AWESOME!

In Eagle,  I  LOVE  Grand Avenue Grille, Mi Pueblo, Angelino’s, The Dusty Boot, and Paradigm’s.    Grand Ave Grille has great venues on fridays in the summer and i love their Asiago Chicken Ceasear salad.  I could eat it everyday!  Mi Pueblo is great mexican and have a wonderful owner.  It is all very fresh and DELICIOUS.  I love their veggie quesidellia (sp??).  Angelino’s is a great spot for wonderful Itallian.  Dusty Book rocks for families and date nite alike.  Great meat selection at the boot!

There are so many places to eat I am now getting really hungry after this exercise!  For mor information and or fun facts about the Vail Valley contact me:  Jill Hopkins 970-376-8692 or email jill@gatewayland.com     check out the Vail Daily and the Mountaineer for great dining deals daily in these publications.   :0 Bon Appitite!

Lot’s of vacant lots are available in the West end of Eagle County.  It’s a great time to buy a vacant lot if building a new home in the next year or so is in the cards.  Prices may never be better.  Ok, what’s the problem?  Answer, getting financing. 

Lenders, if they have money, are going to want upwards to 50% down to buy a vacant lot.  That’s a big chunk of cash to come up with as most lot’s for sale are $300ish or more.  There are a few lots for sale that offer owner financing which is a great deal if you like the location of the lot.  But how else can you buy a lot and take advantage of the current deals?

Let’s say you are thinking you would like to buy a lot in Eagle Ranch now and be ready to build in 2010.  (Believe it or not, it will take you a year before you can start to build a home.)  After all there are some 85 lots on the market and most of the lots have come down in price.  Here’s what you do. 

First, find a sharp broker.  Don’t know any, call me and I will help you find one. 

Second, find a couple of lots you like and pick one to start with.  Have your broker write an offer where you put up $25,000 non-refundable earnest money deposit and partial payment with a closing date 1 year out.  Why non-refundable you ask?  Because you are taking the lot off the market for 1 year and that has value to the seller.  Plus it shows you are committed to buying the lot.  If the seller of your first choice says no, move on to your second choice and so on until you find a savy seller.  A savy seller will know your offer puts him light years ahead of all the other sellers in the market place today. 

Third, this buys you time to plan, design, get design approval, line up your builder, get your financing in place and be ready for the start of the building season.  By starting early you have the opportunity to get the best prices.

Fourth, you have one year with no mortgage payments or taxes to pay.  Your only out of pocket expenses will be designing your home and getting the plans approved by the Design Review Board. 

Fifth, before closing on the lot, you will have taken your plans and costs to build your new home to your favorite banker and have your financing in place to buy the lot ( should be way less than 50% down), build the home and have your permanent financing in place. 

What all this means is, you put up $25,000 and got 1 year before the interest meter started running.  You bought at this years price and will save yourself in the neighborhood of $15,000 (assumes a $325k lot at 6.5% interst only and taxes of $4500) in lot payments and taxes before you closed on the lot.  That $15,000 will go a long ways towards the planning and design of your new home.

Click here visit John Nichols web site.

Eagle Ranch, Eagle, Colorado, a Golf Course Community close to Vail, has great lots with great prices and spectacular views!

Highlands Lot in Eagle Ranch, Eagle, Colorado

If you are looking to build a home on a lot that offers mountain views, the lots in the Highlands are great values.  Lots start at around $250,000 for about an acre in this neighborhood.  The homesites in the Highlands are a collection of exceptional lots, generously-sized from ½ to 2 acres. Most of these large, elevated sites back up to open space and have magnificent, panoramic views of New York Mountain, Castle Peak, the golf course and beyond. The rolling terrain, Junipers and Sage make this newest neighborhood a truly unique place to live. Nearby, bike and walking paths link The Highlands to the other parts of Eagle Ranch as well as to Brush Creek and the green hills surrounding Eagle. 
 

Prices are down on lots on the Eagle Ranch Golf Course, starting at $165,000 for about a half an acre.

Eagle Ranch Golf Course Lot

Eagle Golf Course Lot

This is a great time to purchase a lot at prices seen years ago.  Currently there are 83 lots available in Eagle Ranch, on the golf course, tucked away on cul-de-sacs, in the Highlands and close to the Village.  Build a beautiful home, in a location within a short walk to school, stores, restaurants, theater and community activities at Brush Creek Park just across the creek.  Enjoy affordable golf at one of the best courses in the Vail Valley, miles of hiking and biking trails, a nearby community pool and indoor ice rink.  Eagle Ranch is 30 minuets to Vail Ski Resort and 10 minuets to the Eagle County Airport.

Eagle County Airport Information

Eagle County Activities

Eagle Ranch Golf Course

For more information on Eagle Ranch and the lots available in all the Eagle Ranch neighborhoods, contact:  

 Teri Lester, Eco-Broker  970-376-0779 or tlester@gatewayland.com

www.vailcoproperty.com

Eagle Ranch Townhome, Eagle, Colorado

There are some great condominium and townhomes values in Eagle Ranch, Eagle, Colorado.  Yes, prices are coming down and now would be a great time to consider your little place in a great growing community in Eagle County.

The traditional neighborhood at Eagle Ranch has several multi-family neighborhoods that have two and three bedroom residences located within walking distance to Eagle Ranch Village, Capitol Theater, restaurants and shops. They consist of townhomes at MacDonald Street, Gambel Street, Redstone and Frontgate; duplex townhomes at Castleview; urban lofts in the Castle Peak and Fulford Buildings; condominiums at Founders Place, West Village and recently completed Sylvan Square.

Eagle Ranch Townhome Living

Eagle Ranch Townhome

Eagle Ranch Sylvan Square Condominiums

 Eagle Ranch Lifestyle

Currently there are 19 Eagle Ranch Condominiums and Townhomes available, starting at $320,000 for a two bedroom, up to $529,900.  A variety of styles and floor plans are avalilable to meet the lifestyle of singles, young families and empty nesters.  For more details, contact:

Teri Lester, Eco-Broker  970-376-0779  or tlester@gatewayland.com

www.vailcoproperty.com

Eagle Ranch in Eagle, Colorado is conveniently located just minuets from the Eagle County Airport and a half hour to world class skiing in Vail and Beaver Creek. There are some great values on single family homes on the golf course, in the meadows, and on the Highlands of Eagle Ranch. The views from some of these custom built homes are so incredible, you can see mountains miles away.

You can call one of 53 single family homes yours!

Eagle Ranch is a great place to live. Quaint, peaceful, and located in the heart of Colorado. It has astonishing mountain views, just minutes from Vail, a superb Arnold Palmer-designed daily-fee golf course, a park which includes playing fields, a community center building, a stage, a “community built” playground, and, nearby, a brand new elementary school. Miles of bike and walking paths are connecting neighborhoods with the town of Eagle and surrounding open space.

Eagle Ranch Golf Course

Eagle Ranch Fitness Club

Eagle Ranch is the place of choice among full-time residents, second-homeowners, young families, empty nesters, and those buyers seeking value and quality. Convenience of location and a carefree lifestyle make living in Eagle Ranch an opportunity you won’t want to miss.

For more information on the single family homes with recent price reductions, contact:

Teri Lester, Eco Broker 970-376-0779 or tlester@gatewayland.com

www.vailcoproperty.com