2003 kind of ho-hum for building | VailDaily.com

2003 kind of ho-hum for building

Cliff Thompson/Daily Staff Writer

Those numbers are better than last year’s totals but lag behind previous years. There were 555 building permits issued – that’s 21 percent better than 2002’s 458, but it’s still significantly fewer than the 624 logged during the 1999 boom year.

The valuation or replacement cost of the structures built last year was $138.1 million or 2.2 percent ahead of last years $135 million.

The construction consisted of 161 single-family dwellings and 104 multi-family units. In 2002 there were 66 single-family units and 112 multi-family homes. Low mortgage interest rates have spurred building activity in entry-level housing.

The county’s building permit fees, based on a graduated scale of charges linked to building size and type, totaled $875,018. That’s the lowest building permit fee total in the last five years. In 2002 $908,466 in building fees were reported.

Real estate sales for the year have been on a record pace, but a significant number of those sales have absorbed existing dwellings, real estate professionals said.

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Last year a total of 2,597 real estate transactions were recorded, second only to the record of 2,672 in 2000. There were 263 foreclosures in 2003, consisting of 111 on real property and 152 timeshares.

Cliff Thompson can be reached via e-mail at: cthompson@vaildaily.com or by calling 949-0555 ext. 450.

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