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Welcome to Liz Leeds Luxury Real Estate Update February 2023.
Vail, Colorado is a winter lovers paradise. It's really heaven for skiers and snowboarders alike and it's so worth it to take a trip to the mountains, even if skiing and snowboarding is not your thing. There are so many things to do here outside of skiing and snowboarding.
I have lived here for 35 years and have experienced some wonderful activities outside of being on the ski mountain. It is without a doubt one of my favourite places on the planet and I have skied all over the world. Vail remains one of the top ski destinations in North America and its infamous back bowls attract visitors from all over the world but if you are seeking other activities, let me share some of my idea's. Pull up a blanket and a hot cocoa and listen to the amazing things you can do in Vail, besides ski and snowboard! I am warning you, you maybe inspired to book a flight.
Fun things to do include:
- Go Snowmobiling, Back country is wonderful
- Relax at the spa. Include and indulge in a spa day as we have the best spa's in Vail and Beaver Creek.
- Have dinner in a cabin.
- Explore the many shops and restaurants in Vail Village and Beaver Creek Village.
- There is great apres ski here in Vail Village
- Go snowshoeing or cross country skiing on the Vail golf course.
- Take a ride in the gondola up to the top of the mountain and take in the beautiful scenery.
- Explore Minturn with its cute shops and restaurants.
- Visit the ice castles. Simply have a cocktail at one of the new ice bars on the ski mountain, they are great fun.
I would love to help you book one of these activities, feel free to give me a call.
So Let's quickly talk about real estate. The real estate market here in the Vail Valley continues to be quite strong. While we do see homes staying on the market a little bit longer, they are eventually getting picked up. Our inventory is quite low keeping it really a sellers market. Buyers do have a little more room to negotiate in some cases, but for the most part, because of lack of inventory, if you are a buyer and you see the perfect property I would highly recommend that you grab it. I can't tell you how many times people come back a year or two years later saying I could've, would've, should've purchased then when I was last here!
Finally I always get the question, 'Liz, do you think the housing market will crash in 2023?' My short answer is NO, that I do not expect a housing market crash this year. Other real estate experts I have spoken to really expressed the same opinion. Lots of demand and not a lot of inventory should persist through 2023 and beyond. New construction just can't be completed fast enough to meet demand and affordable price points plus we have no land here in the valley to build on.
When forbearance on mortgages runs out completely it is more likely that lenders will offer a loan modification, moving the old payment to the end of the loan cycle, Period!
Banks don't want a housing crash because it hurts them the most. They will work with the borrowers who are not at fault for perhaps losing their jobs or businesses. Housing markets vary greatly depending on many factors. Here in the Vail Valley the market prices continue to stay even or even slightly up as its one of the top ski destinations in North America as I started saying at the beginning of this video. I highly recommend this. If you find something that you love, let's purchase it so you can start creating those family lifestyles and memories before the children and grand children are grown up and it's really to late to enjoy it.
If you would like to discuss any of these opportunities further, please call me, i'm just a phone call away. Have a great month.
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