WASHINGTON (AP) — The outlook for U.S. economic growth is looking slightly better.

American businesses sold a record number of goods and services in Europe, China and other foreign markets in February, while imports declined.

Many economists began raising their forecasts for January-March growth after seeing Thursday’s government report on the lowest trade deficit since the fall.

And the jump in exports contributed to the second straight day of gains on Wall Street. The Dow Jones industrial average closed up 181 points — its second largest gain of the year.

- Excerpt from the Vail Daily

 

Eagle County real estate; best start in 3 years Eagle County real estate is off to it’s best start since 2008 in both transactions (181 compared with 235 in 2008) and dollar volume ($196,919,288 compared with $331,335,000 in 2008). February had 91 transactions, the majority of which were sales in Eagle and Gypsum, cumulatively accounting for 26% of all sales. Ten of the 22 bank sales for February took place in Eagle and Gypsum with an average sales price of $178,000. These sales contributed to the total of sales in the county under $500,000, accounting for more than half of all transactions. Vail Village continues to see a lot of activity with 8 transactions closing in February, accounting for nearly 22% of the county’s dollar volume. Four of the five transactions in February were over $4 million and took place in Vail, the highest being sold at Solaris for $6.4 million. This sale also accounts for the highest price per square foot for February at $2,218. February Highlights: - Residential sales had a PPSF of $472. - Multi-family homes accounted for 43 of the 91 transactions in the county - The average sales price was $1,042,343 Click here for Land Title’s: February 2012 Market Analysis

EAGLE COUNTY, Colorado — Eagle County real estate is off to its best start since 2008 in both transactions — 181 compared with 235 in 2008 — and dollar volume — $196.9 million compared with $331.3 million in 2008. February had 91 transactions, the majority of which were sales in Eagle and Gypsum, cumulatively accounting for 26 percent of all sales. Land Title Guarantee Co. released February real estate numbers on Wednesday. Ten of the 22 bank sales for February took place in Eagle and Gypsum with an average sales price of $178,000. These sales contributed to the total of sales in the county under $500,000, which accounted for more than half of all transactions. Vail Village continues to see a lot of activity with eight transactions closing in February, accounting for nearly 22 percent of the county’s dollar volume. Four of the five transactions in February were over $4 million and took place in Vail, the highest being sold at Solaris for $6.4 million. This sale also accounts for the highest price per square foot for February at $2,218.

- Vail Daily

127 Jules Dr I101

 

Located in the Gypsum, CO subdivision of Mountain Glen Condominiums at 127 Jules Dr I101, this Residential features 3.00 bedrooms and 2 bathrooms. Built in 2001, this property is offered at $99,000 with 1,062 sq ft. The Residential is listed by Laurie Slaughter with the Vail Real Estate MLS number Vail.

Vail, Colorado — It’s early, but the wave of foreclosures that has hit the county the past few years shows no signs of breaking.

Through March 10, there were 102 new foreclosure filings at the Eagle County Public Trustee’s Office. There were 615 filings in 2011 and 618 in 2010. That was the year foreclosures really hit in Eagle County. There were 452 filings in 2009 and just 179 in 2008.

Foreclosures filed in 2010 and 2011 were the most on record. The previous high — 599 filings — came in 1987.

There were 334 foreclosure sales in 2011, more than half the total filings. There were 275 sales in 2010 and 158 in 2009. The most recent figures available from the state of Colorado show sales increased by more than 53 percent in the first half of 2011 compared with the same period in 2010.

- Vail Daily

Gencom, the Florida-based company that owns the Ritz-Carlton Bachelor Gulch, last week announced it had formed a partnership with GD Holdings, to “recapitalize” the 206-room hotel.

The hotel, owned by Gencom but operated by Ritz-Carlton, went into foreclosure last year, with Gencom owing Lehman Brothers $61 million on the property. A foreclosure sale was postponed numerous times.

Vail – Last week’s announcement stated that partnership between Gencom and GD Holdings had restructured the loans on both the hotel and the residential component of the hotel, and loans are now in good standing.

In addition to the debt restructuring, the hotel also announced a $10 million renovation program to “refresh and enhance the property’s already unique mountain lodge decor within its guest rooms, ballroom/meeting space and public areas.” The renovation is expected to be completed in early 2014.

During the foreclosure process, Ritz-Carlton continued to operate the hotel. When filed, the foreclosure was the largest in the county’s history.

- Vail Daily

 

Vail Colorado — Even with the scars left by the housing mess, homeownership is still a goal for many Americans.

If you vowed to make your homeowner­ship dream come true in 2012, it’s time to get started. Indeed the timing may be ideal. Housing market observers say that prices appear to have bottomed out in many mar­kets, and mortgage rates are at their lowest point ever.

But don’t let prognostications cause you to jump in too quickly. As many have learned since the housing bubble burst, being ill-prepared financially can cause lasting damage.

Although there were some positive signs in recent months, it will take many years before the housing market is back on track. In 2011, home sales totaled 4.26 million. That was up slightly from 4.19 million in 2010, but was far below the 6 million that economists equate with healthy housing markets.

That gives prospective home buyers a chance to get their plans in order before taking the plunge.

First, make sure you’re really ready to buy. That’s more than a financial calcula­tion. Consider if you expect to remain in the same city for several years? Ask yourself if you’re ready for the lifestyle change that comes with the responsibility of owning? Will you be able to handle simple mainte­nance or can you afford to call someone in every time a drain clogs?

You might want to start with some class­es through organizations like Neighbor-Works America, www. nw. org , where you can learn the basics of home purchasing and upkeep.

Second, make sure you pursue the right type of home for you. There are benefits and pitfalls to various types of ownership. Co- ops and condos, for example, can relieve owners of the responsibility for tasks like shoveling snow and dealing with contractors for major repairs. But both property types require collective decision making for even small items, like rules on holiday decorations, which can be frus­trating. Similar issues may arise in town­house developments.

Single-family homes offer more freedom and control of the property, but place the burden and the costs of everyday mainte­nance and major projects on the home­owner.

Here are some tips to get started on the path to homeownership:

1. Shop around for a mortgage.

You should visit several banks and cred­it unions to find out what mortgage amount you may qualify for, before you get your heart set on a home that’s out of reach. Banks these days are looking for substantial down payments — 20 percent of the purchase price is again considered standard. Although it’s not as common as during the boom, banks may still overesti­mate how much house you can afford. Make sure any home fits into your budget, remembering that property taxes and home insurance will also be part of the monthly payment.

2. Expect competition.

It’s still a buyer’s market, to be sure, but prices are rising in many parts of the coun­try. And the National Association of Real­tors says one in five homes sold in 2011 was purchased by an investor. Many buyers from other countries are making purchas­es, often in cash, so be prepared for com­peting bids.

3. Educate yourself on inspections.

Home inspections shouldn’t be shrugged off as a routine detail. They can uncover major problems that might con­vince you to search for another house or bargain down the price. Make sure you know what your inspector is looking for: radon gas, toxic mold, termites and other pests, asbestos and lead paint are not typi­cally included in the standard inspection, according to the National Association of Home Inspectors. Those problems will likely require a separate inspector, or at least a separate fee.

More resources

Visit: The guide for first-time homebuy­ers produced by NeighborWorks America has tips and tools to help you decide if you’re ready to buy and how to manage your finances, at www.keystomyhome.org . The federal Department of Housing and Urban Development also has advice and links to programs in your state, at www.hud.gov .

Download: The free apps from Zillow.com and Realtor.com can help you search for homes for sale, bookmark potential houses and even find driving directions to get there — available for iPhone, iPad or Android

Listen: The “ Money 101: Homeowning” series of podcasts by the team from Amer­ican Public Media’s “ Marketplace” pro­grams covers details from finding a good real estate agent to what you need to know about buying a foreclosed property. Find them at iTunesU. 

- AP

Vail, CO – Vail Resorts has agreed to buy Kirkwood Mountain Resort at Lake Tahoe, Calif., for about $18 million.

The deal includes residential and commercial property at the base. Kirkwood will continue to be involved in the property development.

If the deal goes through, Vail Resorts would operate three world-class mountain resorts in the Lake Tahoe region, including Heavenly Mountain Resort in South Lake Tahoe, Northstar California on the north shore and Kirkwood Mountain Resort.

Vail Resorts said Heavenly and Northstar pass holders will have access to Kirkwood and Kirkwood pass holders will be able to ski and ride Heavenly and Northstar.

Vail Resorts expects to close the deal next month, contingent on transfer of the U.S. Forest Service permit.

- Vail Daily

 

VAIL, Colorado — Monday’s storm brought big snow to local ski areas.

Vail reported 10 inches of snow, while Beaver Creek reported 9 inches as of 6 a.m Tuesday.

Vail Mountain currently has 1,603 of 5,289 acres open and over the weekend that they intend to open parts of the Back Bowls as soon as possible after Monday’s storm.

Vail has received 105 inches of snow so far this year.  As for Beaver Creek, it offer 1,408 of 1,815 acres of open terrain, and has received 96 inches of snow so far this year.

The Good News is that there is a chance of snow Wednesday, Thursday and Friday

-Vail Daily