Hey everyone. I have some advice on a buyer’s offering and pricing strategy. It’s helpful to know a few things at the start.
The first thing to know is Vail is really two separate real estate markets: the downtown market and the out of town area. The downtown market is the ‘beachfront’ properties, where you can walk to skiing, shopping and all the restaurants. Pricing for a one bedroom condominium in this market starts at around $500,000. The out of town area starts about five blocks from the ski lifts. Here, the one bedroom condominiums start around $200,000.
Both markets have large multimillion dollar properties and a wide range of types of living from duplexes to condos to single family homes, etc.
It’s also important to know that rarely do Vail’s affluent property owners have to sell. Most will wait for an acceptable price. Desperation and foreclosure sales are rare. It is not productive to wait for one. I have only seen one or two of these sales in my 40 years as a Vail realtor.
We are currently experiencing the lowest inventory since 2008. Sellers know the selection is limited and prices are on the rise again.
My strategy is to represent you as your exclusive buyer/broker so I can be a tough negotiator. Most discounted sales are within the 2%-10% range. When you offer you want to make a sensible bid so that the seller will counteroffer at a less than listed price. You don’t want to offer too low, though, because you don’t want to anger or insult the owner.
My goal is to get you the best available price and not leave anything on the table. So if you want to buy in the Vail area, give me a call and we can get started!
