A New Way Home - Vail Valley Real Estate Blog

Looking for ways to make the most of a Beaver Creek Club membership?

Have you considered moving out of Beaver Creek, but keeping your home because you love your Beaver Creek Club membership? Or do you wish you could join the Beaver Creek Club?  

We have an idea for you!

• Establishing a new per-bedroom fee on all short-term rentals This fee, per the Town’s legal counsel, would need to be the same for all STRs, no matter their location within the Town. Consensus amongst council was a fee in the range of $1k-$2k per bedroom, although the Town’s STR study said they could justifiably go as high as $5k per bedroom. Additional dollars generated from this fee would likely go towards the Town’s affordable housing efforts and offsetting impacts from STRs.
• Capping the number of short-term rentals Staff raised the possibility of placing a cap on the number of short-term rentals within the Town, but ultimately, all but one council member agreed that was not the direction the Town should go.
• Establishing occupancy requirements for short-term rentals Staff raised the possibility of establishing occupancy requirements for an owner to use their property as an STR i.e., Minturn requires two years of ownership before an owner can use their property as a short-term rental. One council member suggested a 5-year ownership requirement, but the remaining members did not support any requirement.  

• Home sales nationwide saw a 3% gain year-over-year in September, which is the lowest we’ve seen since 2010. In Eagle County, we have seen a 4% gain year- over-year. Lawrence Yun, chief economist at the National Association of Realtors, suggests that “maybe the worst is over”.
• He also predicts that we will see existing home sales rise by 9% in 2025, and new home sales increase by 11%.

• CoreLogic, a major data resource for real estate, forecasts that home prices will appreciate by 2% nationwide in 2025.
• They also predict Denver, Miami, and Boston among the top markets for price increases next year.
• Goldman Sachs researchers forecast a 4.4% increase in home prices next year.

• According to Freddie Mac, the average 30-year fixed rate mortgage has ranged from 6.08% to 7.44% over the last year, and Lawrence Yun says “rates should stabilize at the low end of that range for 2025”.
• Without an exact percentage, Bernard Markstein, chief economist at Markstein Advisors said that “rates will be lower than current levels…[which] will unleash some of the pent-up demand for housing in 2025”.