POST DATE: Friday, February 26, 2010
I saw in the broker hotsheet yesterday that a fabulous estate home in Vail's exclusive Spraddle Creek neighborhood -- famous for its straight-on views of Vail Mountain -- sold for $9,000,000, quite a bargain when you consider its original list price was $13,800,000.
That got me to thinking about other bargains that the smart money has been snagging here in the Vail Valley ... after all wealthy people like "a deal", too.
I found out the bargain hunters have been busy. Here are a few examples of some recent buys:
1. 1378 Wildwood, in Mountain Star
Highest List Price = $21,950,000; Purchase Price = $15,500,000
2. 463 Borders Road, in Beaver Creek
Highest List Price = $27,250,000; Purchase Price = $15,500,000
3 3365 Daybreak Ridge, in Bachelor Gulch
Highest List Price = $16,850,000; Purchase Price = $11,150,000
4. Arrabelle Penthouse, in Vail
Highest List Price = $14,500,000; Purchase Price = $9,150,000
The reason I use the term "Highest List Price" is that some sellers increased their asking prices after bringing their homes to market. By the time they received an offer, all but one had significantly reduced their prices. This had the effect of attracting buyers but did not dissuade those buyers from seeking further price reductions.
THE MORAL OF THIS STORY IS, "MAKE AN OFFER. YOU MIGHT BE PLEASANTLY SURPRISED."
With only about 5-6 weeks left in our ski season, after which things here get REAL quiet, now is an excellent time for bargain hunters to strike a deal.
Here are some opportunities:
1. VAIL: The Lodge Chalet #1 ... WAS $14,800,000; NOW $11,850,000
2. VAIL: 1452 Buffehr Creek ... WAS $14,500,000; NOW $12,900,000
3. BEAVER CREEK: 65 Elk Track ... WAS $14,900,000; NOW $12,995,000
4. BACHELOR GULCH: 305 Tall Timber ... WAS $16,000,000; NOW $11,950,000
I know of some other great values, too and I can attest that bargain-hunting really works ... one of those buyers who grabbed one of those great deals listed above is my client.
My firm, Slifer Smith & Frampton Real Estate, participated in 13 of the top 15 transactions in the Vail Valley last year.
Contact me with your questions, requests.
RECENT VAIL VALLEY REAL ESTATE ACTIVITY
POST DATE: Wednesday, February 24, 2010
Last week buyers put 16 Vail Valley homes under contract. Of these 16 homes, 11 were listed in the $1,000,000 to $3,250,000 range while the remaining 5 homes had asking prices below $500,000. Nothing happened in the $500,000 to $1,000,000 range.
4 of the properties were single family homes and 12 were condos or townhomes.
Here's the geographical breakdown for these 16 new contracts:
Vail/Beaver Creek/Cascade Village: 3
Beaver Creek: 3
Arrowhead: 2
Westin Resort (Avon): 3
West Vail: 1
Lake Creek: 1
Gypsum: 3
Last week buyers put 16 Vail Valley homes under contract. Of these 16 homes, 11 were listed in the $1,000,000 to $3,250,000 range while the remaining 5 homes had asking prices below $500,000. Nothing happened in the $500,000 to $1,000,000 range.
4 of the properties were single family homes and 12 were condos or townhomes.
Here's the geographical breakdown for these 16 new contracts:
Vail/Beaver Creek/Cascade Village: 3
Beaver Creek: 3
Arrowhead: 2
Westin Resort (Avon): 3
West Vail: 1
Lake Creek: 1
Gypsum: 3
BULLETIN! WE'VE GOT BIG SNOW
POST DATE: Tuesday, February 23, 2010
It snowed here for 10 consecutive days and dumped close to 3 feet of perfect powder on our slopes. Visitors and locals alike are raving about the superb conditions.
SKI FREE, STAY FREE, RENT GEAR FREE:
Visit Beaver Creek from February 22 to March 12, 2010 and when you buy three nights of lodging and days of skiing, receive a complimentary fourth night of lodging and fourth day of skiing plus one day of rentals on the house. Lodging rates start at $536 per person for four nights/ days total based upon double occupancy in a one-bedroom condo and ski rentals start at $147 per adult/ $84 per child for four days. Find more information at www.beavercreek.com/springbreak
UPCOMING SKI CLINIC ON VAIL MOUNTAIN ... HURRY :
A Women-Only Testing Clinic is organized by SKI Magazine’s former women’s ski test director Krista Crabtree for intermediate and advanced female skiers. Aimed at enhancing equipment knowledge and technique through testing of next season’s women’s-specific skis, participants in the three-day clinic team up in small groups with top female pros. Atomic, Dynastar, Fischer, K2, Nordica, Rossignol and Volkl brands are all included in the testing, covering Vail’s extensive and diverse terrain. Feb. 26-28, 2010. Check it out at http://www.vail.com/.
It snowed here for 10 consecutive days and dumped close to 3 feet of perfect powder on our slopes. Visitors and locals alike are raving about the superb conditions.
SKI FREE, STAY FREE, RENT GEAR FREE:
Visit Beaver Creek from February 22 to March 12, 2010 and when you buy three nights of lodging and days of skiing, receive a complimentary fourth night of lodging and fourth day of skiing plus one day of rentals on the house. Lodging rates start at $536 per person for four nights/ days total based upon double occupancy in a one-bedroom condo and ski rentals start at $147 per adult/ $84 per child for four days. Find more information at www.beavercreek.com/springbreak
UPCOMING SKI CLINIC ON VAIL MOUNTAIN ... HURRY :
A Women-Only Testing Clinic is organized by SKI Magazine’s former women’s ski test director Krista Crabtree for intermediate and advanced female skiers. Aimed at enhancing equipment knowledge and technique through testing of next season’s women’s-specific skis, participants in the three-day clinic team up in small groups with top female pros. Atomic, Dynastar, Fischer, K2, Nordica, Rossignol and Volkl brands are all included in the testing, covering Vail’s extensive and diverse terrain. Feb. 26-28, 2010. Check it out at http://www.vail.com/.
CATHY IS RECOVERING; BLOGGING POSTS TO RESUME WEDNESDAY
POST DATE: Monday, February 22, 2010
I have been SO SICK ... it's been one whole week. But I am finally mending and will resume blog posts this coming Wednesday ... maybe tomorrow, if I can. I have lots of news to share.
I really hope you'll stick wth me and check back in here later this week.
I have been SO SICK ... it's been one whole week. But I am finally mending and will resume blog posts this coming Wednesday ... maybe tomorrow, if I can. I have lots of news to share.
I really hope you'll stick wth me and check back in here later this week.
RECENT VAIL VALLEY REAL ESTATE ACTIVITY
POST DATE: Monday, February 15, 2010:
In the past week, 17 properties went contract pending in the Vail Valley ... 16 of them residential plus 1 homesite (in Eagle Ranch).
Some notable properties placed under contract by buyers include:
- a single family home in Vail's Spraddle Creek neighborhood listed at $11,500,000;
- a single family home on Vail's Golf Course listed at $5,925,000;
- a condominium in Vail's Gateway Plaza Building listed at $3,900,000;
- a townhome in Beaver Creek's Elk Track complex listed at $3,475,000.
In addition to these, there were 2 sales in the $3 million+ range; 6 sales in the $1-3 million range and 7 sales in the under $1 million range.
Here's the geographical breakdown for these 17 new contracts:
- Vail Village: 2
- Lionshead: 2
- Vail Golf Course: 1
- Beaver Creek and The Westin: 4
- Arrowhead: 1
- Cordillera: 1
- East Vail: 1
- Edwards: 1
- Eagle/Gypsum: 4
In the past week, 17 properties went contract pending in the Vail Valley ... 16 of them residential plus 1 homesite (in Eagle Ranch).
Some notable properties placed under contract by buyers include:
- a single family home in Vail's Spraddle Creek neighborhood listed at $11,500,000;
- a single family home on Vail's Golf Course listed at $5,925,000;
- a condominium in Vail's Gateway Plaza Building listed at $3,900,000;
- a townhome in Beaver Creek's Elk Track complex listed at $3,475,000.
In addition to these, there were 2 sales in the $3 million+ range; 6 sales in the $1-3 million range and 7 sales in the under $1 million range.
Here's the geographical breakdown for these 17 new contracts:
- Vail Village: 2
- Lionshead: 2
- Vail Golf Course: 1
- Beaver Creek and The Westin: 4
- Arrowhead: 1
- Cordillera: 1
- East Vail: 1
- Edwards: 1
- Eagle/Gypsum: 4
ANOTHER BIG ONE GOES UNDER CONTRACT
POST DATE: Friday, February 12, 2010:
God knows I'm not going to call it a trend, but I'm happy to report that another estate home has gone under contract. This one is in Vail, in the exclusive Spraddle Creek subdivision.
Built in 1998 and subsequently remodeled, 971 Spraddle Creek Road features panoramic views of Vail Mountain, 4 bedrooms/6 baths, media room, hearth room, elevator and, of course, fabulous finishes in approximately 7,000 square feet.
Brought to market in the halcyon days of December 2007 at $13,800,000, it was reduced to $12,500,000 in July 2009 but it was not until the price was reduced to $11,500,000 ($1,624 per square foot) in December 2009 that it attracted a buyer, which it did rather quickly.
971 Spraddle Creek Road is the latest in a string of major homes priced in the 8-digits to go under contract in recent months. Contact me for information about this or the other recent estate sales.
God knows I'm not going to call it a trend, but I'm happy to report that another estate home has gone under contract. This one is in Vail, in the exclusive Spraddle Creek subdivision.
Built in 1998 and subsequently remodeled, 971 Spraddle Creek Road features panoramic views of Vail Mountain, 4 bedrooms/6 baths, media room, hearth room, elevator and, of course, fabulous finishes in approximately 7,000 square feet.
Brought to market in the halcyon days of December 2007 at $13,800,000, it was reduced to $12,500,000 in July 2009 but it was not until the price was reduced to $11,500,000 ($1,624 per square foot) in December 2009 that it attracted a buyer, which it did rather quickly.
971 Spraddle Creek Road is the latest in a string of major homes priced in the 8-digits to go under contract in recent months. Contact me for information about this or the other recent estate sales.
JIMMIE HUEGA AND JOE BIDEN
POST DATE: Wednesday, February 10, 2010
1. Jimmie Huega, former Olympian ski racer, long-time local, and founder of The Huega Center for the treatment of multiple sclerosis, has died. A bronze-medal winner in the 1964 Olympics at a time when the sport was dominated by European racers and Americans were thought to have no chance, Jimmie Huega shared the podium with Billy Kidd from Steamboat who won the silver medal that year. Jimmie's career was cut short in his 20's by multiple sclerosis but he used his battle with the disease to fashion new and revolutionary treatment therapies. He helped A LOT of people to live productive, happy lives and is much-loved in this community.
A memorial service will be held next Monday at 1:00 p.m. at the Beaver Creek Chapel.
2. Vice President Joe Biden was in town for some skiing over the weekend. He and his family stayed at a penthouse in the heart of Beaver Creek Village. Armoured cars were flown in to the Jet Center in Eagle and advance teams of Secret Service began showing up two weeks in advance of his arrival.
Because Beaver Creek is a pedestrian village, all underground portals were monitored.
Every time I drove into the garage under The Park Hyatt where my office is -- some days that was as many as 3-4 times -- three Secret Service men would open all four of my car doors plus the trunk and check out the interior while a fourth marched a German shepherd bomb-sniffer around the car. They were all courteous, gracious and business-like ... and the dog was great.
The Vice President's entourage left yesterday and now we are getting ready for lots of activity during Presidents' Week which will start here on Saturday.
1. Jimmie Huega, former Olympian ski racer, long-time local, and founder of The Huega Center for the treatment of multiple sclerosis, has died. A bronze-medal winner in the 1964 Olympics at a time when the sport was dominated by European racers and Americans were thought to have no chance, Jimmie Huega shared the podium with Billy Kidd from Steamboat who won the silver medal that year. Jimmie's career was cut short in his 20's by multiple sclerosis but he used his battle with the disease to fashion new and revolutionary treatment therapies. He helped A LOT of people to live productive, happy lives and is much-loved in this community.
A memorial service will be held next Monday at 1:00 p.m. at the Beaver Creek Chapel.
2. Vice President Joe Biden was in town for some skiing over the weekend. He and his family stayed at a penthouse in the heart of Beaver Creek Village. Armoured cars were flown in to the Jet Center in Eagle and advance teams of Secret Service began showing up two weeks in advance of his arrival.
Because Beaver Creek is a pedestrian village, all underground portals were monitored.
Every time I drove into the garage under The Park Hyatt where my office is -- some days that was as many as 3-4 times -- three Secret Service men would open all four of my car doors plus the trunk and check out the interior while a fourth marched a German shepherd bomb-sniffer around the car. They were all courteous, gracious and business-like ... and the dog was great.
The Vice President's entourage left yesterday and now we are getting ready for lots of activity during Presidents' Week which will start here on Saturday.
ALBERTO VILAR and OTHER NEWS
POST DATE: Monday, February 8, 2010
1. Alberto Vilar, the good-hearted if misguided philanthropist who used embezzled funds to make multi-million dollar donations to such worthy causes as Beaver Creek's Vilar Center for the Performing Arts, was given a 9-year prison sentence last week. In addition he was fined $25,000, ordered to pay $21 million in restitution, and required to forfeit more than $22 million. Vilar was convicted and imprisoned in November 2008 of conspiracy fraud for cheating investors out of $40 million through his company, Amerindo Investment Advisors. A local newspaper reports that the 69-year old Vilar now walks with a cane.
2. The Town of Vail Council has decided to hire its own consultant to review the impacts to the town's existing retail, parking and traffic patterns of the proposed huge development known as Ever Vail. This will most certainly slow even further the pace of the development which is already two years into the review process. Ever Vail, as proposed, would create a new gondola portal to the ski mountain west of Lionshead, new shops and restaurants, a new hotel, new condos, and new parking. It would involve the straightening of the South Frontage Road in order to create the space on which all of the new real estate would be built.
3. 15 of the 19 properties placed under contract last week were priced below $1 million, mostly in the $300,000-$400,000 range. The single notable exception was a single family home in a Vail neighborhood known as Buffehr Creek. Originally listed for $6.8 million in February 2008, it had an asking price of $4,990,000 at the time it went under contract last week.
1. Alberto Vilar, the good-hearted if misguided philanthropist who used embezzled funds to make multi-million dollar donations to such worthy causes as Beaver Creek's Vilar Center for the Performing Arts, was given a 9-year prison sentence last week. In addition he was fined $25,000, ordered to pay $21 million in restitution, and required to forfeit more than $22 million. Vilar was convicted and imprisoned in November 2008 of conspiracy fraud for cheating investors out of $40 million through his company, Amerindo Investment Advisors. A local newspaper reports that the 69-year old Vilar now walks with a cane.
2. The Town of Vail Council has decided to hire its own consultant to review the impacts to the town's existing retail, parking and traffic patterns of the proposed huge development known as Ever Vail. This will most certainly slow even further the pace of the development which is already two years into the review process. Ever Vail, as proposed, would create a new gondola portal to the ski mountain west of Lionshead, new shops and restaurants, a new hotel, new condos, and new parking. It would involve the straightening of the South Frontage Road in order to create the space on which all of the new real estate would be built.
3. 15 of the 19 properties placed under contract last week were priced below $1 million, mostly in the $300,000-$400,000 range. The single notable exception was a single family home in a Vail neighborhood known as Buffehr Creek. Originally listed for $6.8 million in February 2008, it had an asking price of $4,990,000 at the time it went under contract last week.
THIS WILL GET YOUR ATTENTION!
POST DATE: Friday, February 5, 2010
New written business by the brokers of my firm -- Slifer, Smith & Frampton Real Estate -- for January 2010: $109,597,800.
The same statistic for January 2009: $45,024,400.
Last week -- January 25 - 31, 2010 -- my firm wrote $34 million in new business. Nine of those 17 deals were over $1 million. Three of them were over $5 million.
P.S. We had new snow Wednesday night and through the day Thursday.
New written business by the brokers of my firm -- Slifer, Smith & Frampton Real Estate -- for January 2010: $109,597,800.
The same statistic for January 2009: $45,024,400.
Last week -- January 25 - 31, 2010 -- my firm wrote $34 million in new business. Nine of those 17 deals were over $1 million. Three of them were over $5 million.
P.S. We had new snow Wednesday night and through the day Thursday.
BITS AND BYTES
POST DATE: Wednesday, February 3, 2010
1. A caution to owners, especially those who have rental properties here in the Vail Valley ... there was a chimney fire in one of the condos at the Elkhorn Lodge in Beaver Creek yesterday when some build-up from previous fires in a fireplace ignited inside the chimney. Firefighters were called and put out the fire at around 5:00 p.m., I'm sure interrupting someone's apres ski enjoyment. Fire officials recommend getting your chimney cleaned at least once a year.
2. Looking ahead to warmer days, a Vail Valley wedding planner, Mountains and Meadows, LLC, has received the WeddingWire 2010 Brides' Choice award. This is an annual award based on reviews and surveys from more than 500,000 newleyweds.
3. The Town of Vail has granted extensions to four developers whose projects are on hold because of the economy. Developers of the proposed Cascade Residences, Cornerstone Residences, Strata and Timberline Roost Lodge projects have each been granted 18-month extensions, set to begin when each project's current approvals expire. This could move back start dates by as much as 3 years in some cases.
4. I am seeing a round of price reductions being announced by sellers who hope to attract buyers during the upcoming Presidents' Week holiday which typically starts the Vail Valley's second winter "high-season" and runs through Spring Break and Holy Week. For example, one of my clients, owner of an outstanding 3-bedroom condo at The Chalet, recognized as Beaver Creek's finest resort properties, instructed me last night to reduce the price of this listing by a whopping $400,000, representing a total reduction from original list price of more than $1,000,000. Originally listed at $3,500,000, the new price is now $2,485,000. Now THAT'S motivation. Here's a picture (I have lots more) ... contact me for more information about Chateau Residence #209. You can get me at cmiskell@slifer.net.
1. A caution to owners, especially those who have rental properties here in the Vail Valley ... there was a chimney fire in one of the condos at the Elkhorn Lodge in Beaver Creek yesterday when some build-up from previous fires in a fireplace ignited inside the chimney. Firefighters were called and put out the fire at around 5:00 p.m., I'm sure interrupting someone's apres ski enjoyment. Fire officials recommend getting your chimney cleaned at least once a year.
2. Looking ahead to warmer days, a Vail Valley wedding planner, Mountains and Meadows, LLC, has received the WeddingWire 2010 Brides' Choice award. This is an annual award based on reviews and surveys from more than 500,000 newleyweds.
3. The Town of Vail has granted extensions to four developers whose projects are on hold because of the economy. Developers of the proposed Cascade Residences, Cornerstone Residences, Strata and Timberline Roost Lodge projects have each been granted 18-month extensions, set to begin when each project's current approvals expire. This could move back start dates by as much as 3 years in some cases.
4. I am seeing a round of price reductions being announced by sellers who hope to attract buyers during the upcoming Presidents' Week holiday which typically starts the Vail Valley's second winter "high-season" and runs through Spring Break and Holy Week. For example, one of my clients, owner of an outstanding 3-bedroom condo at The Chalet, recognized as Beaver Creek's finest resort properties, instructed me last night to reduce the price of this listing by a whopping $400,000, representing a total reduction from original list price of more than $1,000,000. Originally listed at $3,500,000, the new price is now $2,485,000. Now THAT'S motivation. Here's a picture (I have lots more) ... contact me for more information about Chateau Residence #209. You can get me at cmiskell@slifer.net.
RECENT VAIL VALLEY REAL ESTATE ACTIVITY
POST DATE: Monday, February 1, 2010
Following its Open Market Committee meeting last week, the Fed issued a statement saying economic activity has "continued to strengthen". Household spending continues to expand, however cautiously, while business spending for equipment and software expanded in the fourth quarter of last year.
Here in the Vail Valley, last week was a quiet week for new business -- with one notable exception. A buyer stepped up to purchase a single family home in Beaver Creek's Strawberry Park neighborhood listed for $13,900,000.
Here's where last week's contracts were written:
Beaver Creek: 1 contract ($13,900,000 list price)
Arrowhead: 1 contract ($2,395,000 list price)
Cordillera: 1 contract ($2,495,000 list price)
Eagle-Vail: 1 contract ($1,495,000 list price)
The Westin Resort: 2 contracts ($1,195,000/$1,230,000 list)
Singletree: 1 contract ($664,900 list price)
Following its Open Market Committee meeting last week, the Fed issued a statement saying economic activity has "continued to strengthen". Household spending continues to expand, however cautiously, while business spending for equipment and software expanded in the fourth quarter of last year.
Here in the Vail Valley, last week was a quiet week for new business -- with one notable exception. A buyer stepped up to purchase a single family home in Beaver Creek's Strawberry Park neighborhood listed for $13,900,000.
Here's where last week's contracts were written:
Beaver Creek: 1 contract ($13,900,000 list price)
Arrowhead: 1 contract ($2,395,000 list price)
Cordillera: 1 contract ($2,495,000 list price)
Eagle-Vail: 1 contract ($1,495,000 list price)
The Westin Resort: 2 contracts ($1,195,000/$1,230,000 list)
Singletree: 1 contract ($664,900 list price)
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