Why Now Is the Time to Buy in Vail/Beaver Creek

Hello, everyone. Welcome back to my video blog!

If you’ve been thinking about buying a home in the Vail/Beaver Creek area, now is the time.

1. You will have the best selection. You will beat the competition for the best properties.

2. If you choose to rent your condominium, you can start out with positive cash based on the peak rental income during the ski season.

3. You will catch the sellers a little off guard. Because we are early in the season, sellers will have lower home prices. As ski season approaches, inventory will drop and prices will increase.

4. Interest rates are rising. Rates are still historically low, but they are expected to increase. Take advantage of the market now!

For further information, please call me, Dave Cole at Prudential Colorado Properties at 970 331-6867 or email me at dave@davecole.com

Interest Rates

We recently experienced the lowest interest rates in the history of the Vail/Beaver Creek market. Those rates, though, have been on the rise recently. How does that impact you?

Let’s look at the difference a jump from four percent to six percent creates. At four percent, every $100,00 you borrow costs around $477 a month. If the rates increases to six percent, every $100,000 costs $599 a month. That’s a difference of $1,465 a year.

While that may not seem significant, what if you need a larger loan? If you need to borrow a million dollars that $1,465 difference a year is now $14,655.60. This will eliminate a lot of buyers.

Increased rates slow the market. They decrease the buyer’s pool and thus home prices drop for sellers. Now is the time to take advantage of the market. Give me a call or send me an email at dave@davecole.com