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Housing Prices Down, but so is Housing Glut
10 years ago
Showing posts with label Ski Resorts Best Buys. Show all posts
Showing posts with label Ski Resorts Best Buys. Show all posts
Tuesday, February 22, 2011
Wednesday, December 29, 2010
Telluride: Prettiest Ski Town
Here's a link to Sunset Magazine's Best Ski Towns in the West. Does your favorite destination make their list?
Enjoy!
George
Enjoy!
George
Friday, November 26, 2010
Bigger Planes into TEX by Christmas 2011
Thought some of you (and your clients) might find this article interesting!
Enjoy!
George
by Seth Cagin- Watch Newspapers
11.19.10 - 10:56 am
TELLURIDE - The Telluride Regional Airport is prepared to make improvements to its terminal to accommodate bigger planes in time for the 2011 holiday season, provided that the Telluride-Montrose Regional Air Organization is able to bring flights to the airport by then.
The improvements to the terminal are necessary to meet security requirements, through the creation of a larger space for passengers to wait after being cleared through security. Plans are in place to make the improvements at a cost of about $1.5 million.
And while the airport board has budgeted for the improvements in 2011, it will not necessarily pull the trigger on construction until and unless flights are scheduled.
The airport can accommodate bigger aircraft as of this year due to a $50 million runway improvement that was completed this summer. But whether airlines will utilize the airport is a separate question.
The Regional Air Organization will be n egotiating with airlines to obtain flights to TEX in the spring. If flights are secured, that will allow sufficient time for the necessary terminal improvements to be completed, Jon Dwight , who serves on both the air organization and airport boards told the air organization board.
Scott Stewart, director of the air organization, told the board on Friday that he did not believe airlines would be concerned by the fact that the terminal improvements are merely approved and funded but not yet constructed when they consider whether or not to schedule TEX.
Improved air service to Telluride has been a long-term goal for both the Telluride Regional Airport and the Regional Air Organization, and is now possible since the biggest obstacle, the runway improvements, are complete. To the same end, the airport is also weighing whether to seek approval for commercial flights in and out of TEX after dark.
Air service to TEX has steadily declined over the last decade as service to the Montrose County Airport has improved.
The improvements to the terminal are necessary to meet security requirements, through the creation of a larger space for passengers to wait after being cleared through security. Plans are in place to make the improvements at a cost of about $1.5 million.
And while the airport board has budgeted for the improvements in 2011, it will not necessarily pull the trigger on construction until and unless flights are scheduled.
The airport can accommodate bigger aircraft as of this year due to a $50 million runway improvement that was completed this summer. But whether airlines will utilize the airport is a separate question.
The Regional Air Organization will be n egotiating with airlines to obtain flights to TEX in the spring. If flights are secured, that will allow sufficient time for the necessary terminal improvements to be completed, Jon Dwight , who serves on both the air organization and airport boards told the air organization board.
Scott Stewart, director of the air organization, told the board on Friday that he did not believe airlines would be concerned by the fact that the terminal improvements are merely approved and funded but not yet constructed when they consider whether or not to schedule TEX.
Improved air service to Telluride has been a long-term goal for both the Telluride Regional Airport and the Regional Air Organization, and is now possible since the biggest obstacle, the runway improvements, are complete. To the same end, the airport is also weighing whether to seek approval for commercial flights in and out of TEX after dark.
Air service to TEX has steadily declined over the last decade as service to the Montrose County Airport has improved.
Watch Newspapers
Wednesday, March 24, 2010
Investors are buying resort houses again
--------------------------------------------------------------------------------
Investors Are Buying Houses Again
Posted: 23 Mar 2010 07:40 AM PDT
Good news for the second-home market. What’s happening in your area?
More home buyers are snapping up properties with cash, a trend driven in large part by investors returning to the market after four years of falling prices around the country.
The share of home sales involving all-cash transactions was 26% in January, up from 18% a year earlier, according to the National Association of Realtors. The figures come from a survey of members about their most recent transactions. Many home buyers also are paying cash, but investors are largely using cash so they can avoid paying interest charges on loans and get a larger return on their investment.
Other NAR data also show a pickup in investment activity.
Home purchases made by buyers identified as investors climbed to 17% in January, up from 15% in December and 12% in November.
“We bottomed out in 2008, and in late 2009, prices stabilized and investors have returned,” says Mark Fleming, chief economist at First American CoreLogic. “It’s a different type of investor going after foreclosed properties and expecting to hold on for longer time frames.”
Many investors say they’re financing their purchases with cash on hand, rather than borrowing.
Evan Spinrod of San Francisco bought three rental properties in November and February and now owns 21 in four states. The rent he collects gives him an 8.5% annual return on his investment. Some of his homes are worth about $165,000. “I’m still looking,” Spinrod says. “You can’t build these houses for the prices they’re selling them. I’ve always seen that the real wealth was in real estate. People have been sitting on cash, and there’s no interest from the bank (to pay).”
Leonard Baron, a real estate professor at San Diego State University, has bought three homes with cash in the
San Diego area in the past eight months, ranging in price from $100,000 to $130,000. He rents the properties.
Baron says now is an ideal time to make such purchases. “It’s because prices have dropped so much and rents really haven’t,” he says. “The deals were unbelievable.”
Some Realtors also say they’re seeing increased investor activity.
“Flippers, rehabbers, investors … are, in fact, buying,” says Lisa Johnson, with Coldwell Banker Residential Brokerage in Haverhill, Mass. “I’m getting builders who have stopped building and are instead buying up condos and single-family homes to fix them up and sell them. It’s a neat change I haven’t seen in four years.”
All-cash purchases also reflect a growing number of investors buying higher-end properties without credit, says NAR spokesman Walter Molony. That’s a sign that some investors see real estate prices as having nowhere to
go but up. All-cash offers give buyers a competitive edge on rival offers – even higher ones – that are dependent on financing. Cash deals can close faster and are less likely to fall through.
“You have to have cash to be able to close quickly and have negotiating power. Cash is king,” says Tanya Marchiol, president of Phoenix-based Team Investments, which buys about 70 properties a month with cash it raises from investors. “We do want to flip it or generate cash flow (through renting it out). Now is the time to buy for cash flow. We know the market is going to rebound.”
Some investors say the current real estate market is an ideal time to buy because homes are so low priced, they are bound to hold their value.
That’s the philosophy of Jim McClelland of Tinley Park, 111.
He is buying about 120 to 150 entrylevel homes in the Chicago area this year and owns a total of about 300 properties.
He says now is a good time to buy because properties going into foreclosure are no longer just one-bedroom, fixer-uppers but nicer, split-level brick homes with more bedrooms that will probably appreciate to a higher value.
That’s because so many prime-rate borrowers who bought more expensive homes have gone into foreclosure.
He puts about $60,000 into upgrading a property, then rents it out.
“Do I think this year will be a better time to invest than in 2009? Yes,” McClelland says. “There have always been foreclosures. The difference now is you get a better home for the same kind of money. You’re sitting on better inventory. People get into real estate for financial independence. It’s not a quick fix. It appreciates. It doesn’t happen overnight.”
By Stephanie Armour USA TODAY
Investors Are Buying Houses Again
Posted: 23 Mar 2010 07:40 AM PDT
Good news for the second-home market. What’s happening in your area?
More home buyers are snapping up properties with cash, a trend driven in large part by investors returning to the market after four years of falling prices around the country.
The share of home sales involving all-cash transactions was 26% in January, up from 18% a year earlier, according to the National Association of Realtors. The figures come from a survey of members about their most recent transactions. Many home buyers also are paying cash, but investors are largely using cash so they can avoid paying interest charges on loans and get a larger return on their investment.
Other NAR data also show a pickup in investment activity.
Home purchases made by buyers identified as investors climbed to 17% in January, up from 15% in December and 12% in November.
“We bottomed out in 2008, and in late 2009, prices stabilized and investors have returned,” says Mark Fleming, chief economist at First American CoreLogic. “It’s a different type of investor going after foreclosed properties and expecting to hold on for longer time frames.”
Many investors say they’re financing their purchases with cash on hand, rather than borrowing.
Evan Spinrod of San Francisco bought three rental properties in November and February and now owns 21 in four states. The rent he collects gives him an 8.5% annual return on his investment. Some of his homes are worth about $165,000. “I’m still looking,” Spinrod says. “You can’t build these houses for the prices they’re selling them. I’ve always seen that the real wealth was in real estate. People have been sitting on cash, and there’s no interest from the bank (to pay).”
Leonard Baron, a real estate professor at San Diego State University, has bought three homes with cash in the
San Diego area in the past eight months, ranging in price from $100,000 to $130,000. He rents the properties.
Baron says now is an ideal time to make such purchases. “It’s because prices have dropped so much and rents really haven’t,” he says. “The deals were unbelievable.”
Some Realtors also say they’re seeing increased investor activity.
“Flippers, rehabbers, investors … are, in fact, buying,” says Lisa Johnson, with Coldwell Banker Residential Brokerage in Haverhill, Mass. “I’m getting builders who have stopped building and are instead buying up condos and single-family homes to fix them up and sell them. It’s a neat change I haven’t seen in four years.”
All-cash purchases also reflect a growing number of investors buying higher-end properties without credit, says NAR spokesman Walter Molony. That’s a sign that some investors see real estate prices as having nowhere to
go but up. All-cash offers give buyers a competitive edge on rival offers – even higher ones – that are dependent on financing. Cash deals can close faster and are less likely to fall through.
“You have to have cash to be able to close quickly and have negotiating power. Cash is king,” says Tanya Marchiol, president of Phoenix-based Team Investments, which buys about 70 properties a month with cash it raises from investors. “We do want to flip it or generate cash flow (through renting it out). Now is the time to buy for cash flow. We know the market is going to rebound.”
Some investors say the current real estate market is an ideal time to buy because homes are so low priced, they are bound to hold their value.
That’s the philosophy of Jim McClelland of Tinley Park, 111.
He is buying about 120 to 150 entrylevel homes in the Chicago area this year and owns a total of about 300 properties.
He says now is a good time to buy because properties going into foreclosure are no longer just one-bedroom, fixer-uppers but nicer, split-level brick homes with more bedrooms that will probably appreciate to a higher value.
That’s because so many prime-rate borrowers who bought more expensive homes have gone into foreclosure.
He puts about $60,000 into upgrading a property, then rents it out.
“Do I think this year will be a better time to invest than in 2009? Yes,” McClelland says. “There have always been foreclosures. The difference now is you get a better home for the same kind of money. You’re sitting on better inventory. People get into real estate for financial independence. It’s not a quick fix. It appreciates. It doesn’t happen overnight.”
By Stephanie Armour USA TODAY
Tuesday, February 9, 2010
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