Land scarcity could slow sizzling market |

Land scarcity could slow sizzling market

Cliff Thompson

EAGLE COUNTY – Development in the eastern end of the Eagle County is becoming more difficult because land is in short supply, said Jim Flaum, managing broker for Slifer, Smith & Frampton Real Estate.”The challenge with new development is that there’s a limited supply of good land to have it happen on,” he said. “We’ve run out of land.”Contractor Richard “Chupa” Nelson, who has been in the area since 1966, agreed.”People will be looking harder at overlooked and re-do parcels,” he said. “It really becomes a matter of economics. In this valley someone is always coming up with something they think is going to work.”And will the tightening supply of property eventually drag on the sales boom? Possibly, Flaum said. “It could slow sales because it will be hard to find product to supply buyer demand,” he said.But, Nelson said, this boom, like all others, boils down to one question.”How long will it last?” he said.Nelson thinks the area will continue to show strong growth irrespective of how hot the real estate market is, he said, pointing out the county’s population is expected to more than double in the next 30 to 40 years.Vail Colorado

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