Real estate still soaring | VailDaily.com
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Real estate still soaring

Don Rogers

Real estate bubble? What bubble? Eagle County’s balloon is filled with pure helium.The annual record for sales was shattered by November. Homes are selling from top-end to the ones “real” people live in downvalley.And here’s a truly astounding prospect: This year’s total real estate sales could DOUBLE 2003’s mark. Double it. In two years.So much for all that fear about the effects of congestion, global warming, traffic, jobs, the economy, real estate market volatility, interest rates, on and on and on. Folks are buying like crazy.Why is that? The investment still looks good, maybe better than ever. Buyers obviously are confident in the future up here. And why not? This is a great, great place for all its flaws – real and perceived.Sheer population growth has its part, too, to be sure. More people, more homes and more homes to sell and buy. Critical mass and momentum seem to be working together. Of course, that will encourage more development with the demand that is expressing itself in sales and willingness to spend fortunes on property here.The second-home era only shows signs of strengthening, and there are a lot of people with the means to buy such homes in Eagle County – where already half of all properties are owned by people who don’t live here; that’s over 70 percent of Vail proper.The figures show the locals are confident, too.Vail, Colorado


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