VAIL, CO--(Marketwire - July 9, 2010) - Despite the potential for further price drops, Vail Valley real estate expert Greg Strahan states that now is the time for buyers to consider buying Colorado mountain property. Strahan is noting that lower housing prices and low-rate mortgage financing have combined to make the projected overall cost of ownership of Vail real estate very attractive.
"Many Colorado real estate analysts are somewhat pessimistic about purchasing property in this economic climate," says Strahan. "However, it's important to look at more than just property values. My analysis has shown that the total cost of ownership for Vail property is as attractive as ever."
Strahan, a long-time buyer broker of Vail and Summit County Real Estate, specializes in evaluating the investment aspects of vacation property. By looking at multiple financial aspects of property ownership, Strahan has determined that now is a good time to consider buying property in Vail, Breckenridge, and other popular ski resort communities.
"Since early 2007, mountain real estate prices have retreated more than 20 percent and are now showing signs of stabilizing," says Strahan. "Mortgage rates, including those on second or vacation homes, are the lowest we have seen in our lifetime. The other costs associated with home ownership -- such as utilities and maintenance -- have also dropped."
While many Vail and Breckenridge property owners have put off selling their vacation homes in a down economy, Strahan believes many will be compelled to sell this year and move on.
"Time softens resistance and there is a very good chance that more sellers are preparing to move on, thereby improving the odds of an ultimately successful acquisition effort," Strahan adds. "When you look at the total ownership cost of Colorado mountain property, now is a very compelling time to invest -- particularly so in Vail."
About Vail Property Brokerage
Gregory A. Strahan and his wife, Connie Kincaid-Strahan, make up the Vail Property Brokerage team. The company is the only buyer brokerage real estate company in Eagle County, working on behalf of buyers to help them find a vacation home, primary home or property in the area.
Contact Information:
Contact:
Gregory A. Strahan
Vail Property Brokerage
970-476-8850
http://www.vailpropertybrokerage.com