We're not there yet. And, that's a good thing. A recent report from Vail shows that the number of real estate brokers exceeds the number of property listings by 670 to 569. Yikes! If you are from California or any of a handful of very hot markets in the U.S., you may already be familiar with competition for properties. My real estate friends in San Franciso, for example, complain that they may have to represent a buyer on as many as half a dozen offers before their buyer finally gets one. And, by that time, those buyers have given up most of their important criteria and have become willing to far exceed the asking price going in. It's crazy! In Summit County, on the other hand, we have about 630 Realtor members of our Association and over 2600 listings. That includes everything, from condos and townhomes to single family homes and building sites and acreage. But, there are still 1402 residential listings. In addition, prices are much more calm here. Even though we broke some records in 2004, including going over the $1 billion mark in gross sales volume for the first time, you can still buy a very nice single family home here for what a close in 2-bedroom condo will cost you in Vail. Our prices are lower partly because of our proximity to Denver and the Front Range. It's easy to drive to Summit County, more difficult to do so to Vail. According to my friend, Jim McVey, in Vail, properties there are often on the market only a few hours before being scarfed up by hungry buyers. So, you decide. Is it worth the drive, the pressure, the price to go to Vail? If not, how about trying a less stressful shopping trip for your SnowHome right here in Summit County. But, if you really want to check out Vail, I know the best buyer representatives in that market. Give me a call first - 888-353-SNOW - or send an email to Ken@SnowHome.com. |
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