ONE EXCITING PLACE

Monday, December 27, 2010

There are LOTS of people in town and I am heartened by the number of showing requests I've already had.  Typically, it's this upcoming week, New Year's week, that brings the rush of buyers and buyer-prospects ... during Christmas week (last week) real estate shopping typically takes a back seat to everyone's first priority, gift shopping.

I went to a broker preview at the SOLARIS complex in Vail Village last week and found it to be impressive in many ways.  It's fresh, unique, imaginative, doesn't feel like "everyplace else", and has been constructed to a very high standard of quality.

Many of its 79 "mountain contemporary" residences boast stunning views.

SOLARIS has a vibrancy and vitality that emanates from its hub, the outdoor ice skating rink on Meadow Drive. On its perimeter is BOL, a combination restaurant, cocktail lounge and BOWLING ALLEY ... and it's not like anything that comes to mind when you hear those words!  It's the height of "cool". 

Another attraction is CINEBISTRO, a movie theatre where wait staff will serve you lunch, dinner or a snack while you watch your choice of feature film on the big screen.  And there's much, much more ...

And I might add that the richest man in the world just bought a penthouse there.

Here are some photos:

The lanes at BOL

The Bar at BOL



Casual dining at CINEBISTRO

Corridor to Movie Theatres

View from Condo #5A Living Room

Living Room at #5A

Dining Area at #5A

Kitchen at #5A

View from another condo

Contact me at cmiskell@slifer.net for more information.

BUYERS SHOW UP for LAUNCH of A NEW DEVELOPMENT

Friday, December 24, 2010

Buyers stepped up at yesterday's launch and grabbed 14 of the condominiums offered for sale at The Ascent, the reconstituted and refurbished development originally known as The Gates.  The Ascent is a condominium complex, boasting a collection of attractive amenities, located at the base of Beaver Creek.

The big draw was pricing as the new developers offered reductions of approximately 55% from The Gates' original asking prices.

Prices of the condominiums placed under contract yesterday ranged from $399,000 (originally $975,000) to $669,000 (originally $1,473,900).

An excellent selection of 2, 3, and 4 bedroom condominiums remains available for purchase with prices ranging from $499,000 to $1,099,000.

Contact me at cmiskell@slifer.net to request a site plan, floor plans, price list, general information or photos.

RECENT VAIL VALLEY REAL ESTATE ACTIVITY

Monday, December 20, 2010

According to figures from the broker Multi-List Service provided by The Vail Board of Realtors, 45 residential properties have gone "contract pending" during the period December 1 - 19th, which is up noticeably from figures for the entire month of November.

These figures are for whole ownership properties only and do not reflect sales of fractional memberships in Clubs such as The Ritz Carlton Club at Bachelor Gulch, The Ritz Carlton Destination Club in Vail, or The Four Seasons Residence Club/Vail. Please contact me at cmiskell@slifer.net to request that information.

Here's a breakdown of those new written contracts:

BY PRICE RANGE:
$0 - $500,000:  20 contracts
$500,000 - $1 million:  6
$1-3 million: 14
$3-5 million: 2
$5-10 million:  0
$10+ million:  3 (see my post of December 10th for details about these)

BY GEOGRAPHIC REGION:
Arrowhead:  1 contract
Bachelor Gulch:  2
Beaver Creek:  4Cordillera:  2
Lionshead:  1
Vail Village:  4

Avon/Eagle-Vail:  7
East Vail:  4
West Vail:  3
Cascade Village:  0
Edwards (Singletree/Homestead):  6
Wolcott:  1
Eagle/Eagle Ranch:  6
Gypsum/Brightwater/Cotton Ranch:  4

Contact me at cmiskell@slifer.net for details.

BROKER PREVIEW at THE ASCENT LAST NIGHT

Friday, December 17, 2010

I attended the broker preview/launch party of The Ascent last night.  Following the blow-out of The Westin in December 2009 when the developer reduced prices by 40% and amid whispers that something similar would happen here, I was anxious to see what the new owners had done and would do with The Ascent. 

The Ascent is the re-incarnation of a 49-unit condominium building, located at the base of Beaver Creek -- and originally known as The Gates -- which had come to market just as the world's economy was collapsing.  Condo Capital Solutions bought the building -- for a very good price -- a couple of months ago and brought in a local architectural team, landscaping team and interior design team to re-work it. 

They re-worked prices, too, dropping them 50-55% from what The Gates folks were asking in 2008.  So, condos that WERE priced between $975,000 and upwards of $2,400,000 are NOW PRICED between $349,000 and slightly above $1,100,000.

The 2-bedroom condos (1,244 - 1,323 square feet) range from $349,000 to $549,000.
The 3-bedrooms (1,599 - 2,170 square feet) range from $549,000 to $989,000, and are mostly the $600,000's and $700,000s.
The 4-bedrooms (2,551 - 2,612 square feet) range from $989,000 to $1,099,000.

Amenities at The Ascent include ski lockers with boot heaters and owners' storage closets; workout facility; steam room; small-ish swimming/lap pool; indoor and outdoor hot tubs: a children's recreation room; an adult recreation room, i.e., The Club Room, in the form of a lounge with full bar; and a quiet Living Room with fireplace ... and the entire building is air-conditioned.  There is also shuttle service to skiing.

I collected a full complement of floor plans, site plans, pricing sheets, fact sheets, lender info, etc. and I am happy to share any of it with you.  Just contact me at cmiskell@slifer.net with your requests.  I can email, fax or FedEx back to you anything you might want to take a look at.

I can also give you my take on what I think are the best units and the really good values.

RECENT VAIL VALLEY REAL ESTATE ACTIVITY

Monday, December 13, 2010

According to figures from the broker Multi-List Service provided by The Vail Board of Realtors, 47 residential properties either sold (closed) or went "contract pending" during the month of November.  These figures are for whole ownership properties only and do not reflect sales of fractional memberships in Clubs such as The Ritz Carlton Club at Bachelor Gulch, The Ritz Carlton Destination Club in Vail, or The Four Seasons Residence Club/Vail.  Please contact me at cmiskell@slifer.net to request that information.

Here's a breakdown of those new written or closed contracts:

BY PRICE RANGE:
$0 - $500,000: 31 contracts
$500,000 - $1 million: 6$1-2 million: 7$2-3 million: 2
Above $3 million: 1 (listed at $7.3 million)

Note:  the $7.3 million property, a condo at The Solaris in Vail Village, went under contract and closed in three -- yes, 3 -- days.

BY GEOGRAPHIC REGION:
Arrowhead: 0 contracts
Bachelor Gulch: 2
Beaver Creek: 3
Cordillera: 2
Lionshead: 1
Vail Village: 1
Avon (including The Westin)/Eagle-Vail: 4
East Vail/Booth Creek: 1
West Vail: 4
Cascade Village: 0
Edwards (Singletree/Homestead/Wildridge): 5
Wolcott: 0
Eagle/Eagle Ranch: 11
Gypsum/Brightwater/Cotton Ranch: 11
Dotsero/Sweetwater:  2

IT'S BEEN A NOTABLE WEEK

December 10, 2010

It's already been a notable week here in the Vail Valley, and it's not even over yet.

Three major homes went under contract -- one in Vail, one in Beaver Creek, and one in Bachelor Gulch.

1452 Buffehr Creek Road in Vail, a stunner situated on more than an acre of land with views of Vail ski mountain, was listed for $10,900,000, an asking price of $840 for its 12,958 square feet.  It features 8 bedrooms, media room, game room, exercise room, swimming pool, hot tub, private massage room .. and a garage with space for 8 cars. The sellers' asking price did not include the furnishings.

202 Holden Road in Beaver Creek is able to boast ski-in/ski-out access despite its distance from Beaver Creek Village.  Like the home on Buffehr Creek, it too sits on more than an acre of land.  Listed for $9,850,000 ($916 per square foot for its 10,745 square feet), the asking price included 7 bedrooms, 10 baths, elevator, exercise room, study, and media room, all opulently furnished. 

3791 Daybreak Ridge in Bachelor Gulch tops the three-some with its list price of $11,300,000, partially furnished.  This air-conditioned 10,663 square foot log and stone home, listed at $1,060 per square foot, sits on almost 2 acres of land, has ski-in/ski-out access and fine views of the Gore Mountain Range.

Of course, we won't know what the actual purchase prices are until the transactions close, but it says something to me that the last year has been distinguished by multiple sales of some of the Vail Valley's most outstanding -- and most expensive -- homes.  I keep saying that the big money has the best information sources and I'm encouraged to see that money coming off the sidelines.

I KNOW YOU KNOW

December 10, 2010
I know you probably already know that Vail opened its ski season with excellent snow conditions ... but did you know how really fabulous they are?
... that we opened with more than 100 inches of snow,
... that we opened the entire front of the ski mountain AND Sun Up Bowl on the back side,
... that we opened Blue Sky Basin,
... that we have opened 4,308 acres of skiable terrain
... that we have 17 chairlifts operating,
... and that snow is predicted for the next three days?!

Get on out here!

A NEW BUYING OPPORTUNITY

December 6, 2010

I will be attending a broker preview of The Ascent on December 16th, when they will roll out pricing. Situated at the base of Beaver Creek ... not far from the entry gate to the Resort, this recently-built, never-occupied building was formerly known as The Gates before it was foreclosed upon.

The new owners, Condo Capital Solutions, Inc., has commissioned Slifer Designs to work on the interiors; long-time local architect Gordon Pierce to re-do the exteriors; and Land Design by Ellison, a well-regarded long-time local, luxury-home landscaper, to work on the grounds.

Prices for the 49 condominium residences are rumored to be coming in the low $300's per square foot … discounted some 50-60% from their 2008 prices.  Residences are mostly 2-3 bedrooms plus some 4 bedrooms with a 4-bedroom purportedly to be priced in the $1.2 million range. The condos range in size from about 1,225 to approximately 2,400 square feet.

East West Resorts, a well-established property management company in Beaver Creek, will provide on-site management.

The Developer has agreed to split the transfer tax (2% of contracted purchase price) 50-50 with the buyers.

The Homeowners' Association dues are anticipated to run about $8 per square foot per year … half those charged by The Westin Riverfront Resort nearby.
 
I have lots of collateral material, including floor plans... contact me at cmiskell@slifer.net if you'd like to see any of it.  The Developers intend to move fast.  Pricing will be released December 16th.  Contracts will be accepted beginning December 17th and will be executed by the Developer on December 29th.  Sounds to me like they are expecting ... or at least, hoping for, multiple offers on some units.
 
Email me with your questions, comments or requests (cmiskell@slifer.net) or call me at 1-970/376-7227.

ON-MOUNTAIN CHANGES IN THE WORKS

December 3, 2010

Work is underway for an opening NEXT season, not this ski season, of a brand-new, upscale -- but casual -- full-service restaurant at Mid Vail on Vail Mountain. It will be open to the public and will operate during ski season only ... except for maybe a summer wedding or group event but that's in the future. The  dining room will feature floor-to-ceiling windows with views of the Gore Mountain Range.  There will be a bar and lounge area in addition to the full-service dining room.  Decor will be mountain modern. No word yet on what the menu might be ... or price ranges.

Vail Mountain's venerable old Chair 5, the High Noon Lift, has been replaced with a new express lift that will cut ride times out of Sun Up and Sun Down bowls nearly in half ... from 11 to 6 minutes ... and will nearly double capacity from 1,400 people/hour to 2,400 people/hour.

Beaver Creek Mountain will see some chaanges to its terrain park features this winter. The changes are intended to create progression within its park products.  There as been a lot of mixing of various ability levels in the different parks and the Resort is trying to align its parks with the users to create a place where beginners can go, where familiescan go with children, and where expert riders can go ... and not all be in the same area.  The trade-off for some, however, is that it will take away a favorite feature of many riders ... the ability to do a top-to-bottom terrain park run on the mountain's continuous parks.

EXCITING TIMES!

November 29, 2010

Finally!  The building cranes are disappearing and Vail's major, new world-class properties are opening their doors.

THE RITZ-CARLTON RESIDENCES/VAIL, which has been doing a "soft" opening for a few weeks now ... and closing on the sales of several of its condominium and fractional residences ... will hold its official Grand Opening on December 4th, during the World Cup alpine ski races.  The property, which features 71 whole-ownership residences and is co-located with The Ritz Carlton Club, is situated on Gore Creek just west of Vail's Lionshead Village.  Residences range from two to six bedrooms and there is a year-round pool and deck.  A good selection of residences remain available for sale, so please contact me (cmiskell@slifer.net) with your questions or requests for more information.

SOLARIS in the heart of Vail Village -- site of the old Crossroads Building -- has been opening in sections, as it were, but has not announced a Grand Opening date.  Retail spaces are filling in, including Worth Interiors and a branch office of my firm, Slifer, Smith & Frampton Real Estate.  The movie theatre is up and running (with an in-theatre dining option!) and Bol, a very chic, very trendy bowling alley, is the new "in" spot.  An Asian fusion restaurant is soon to open and Vail Resorts has booked multiple events in the new Solaris Plaza this upcoming ski season.  Despite some remarkable sales, including its $14,000,000 penthouse, the Solaris still has a number of condominium properties in a range of sizes available for purchase.  If you want to be in the heart of the action, contact me (cmiskell@slifer.net) for more information.

FOUR SEASONS RESORT AND RESIDENCES will formally open for business on December 11th.  As in the case of The Ritz-Carlton/Vail and the Solaris, I've attended special previews held for Vail's high-end brokers so I can tell you a fair amount about them. This property has 121 hotel rooms, 16 full-ownership condominium residences (1-,2-,3-,4-bedrooms), and 19 residences available for fractional ownership in 1/12 deeded interests.  I have blogged previously about one penthouse residence here that boasts really marvelous ski-mountain views.  Come to think of it, this is true of several of the residences at Solaris, The Ritz-Carlton, and the Penthouses at Manor Vail which were completed some time ago.  You'll just have to come and see them for yourselves, and decide which you like best.  The Four Seasons Vail features an intimate bar/lounge off the main lobby; Flame, a handsome fine dining/steakhouse restaurant; full concierge services; an 11,000 square foot spa with 13 indoor/outdoor treatment rooms, hair and nail salon, separate men's and women's facilities, and a 75-foot heated outdoor swimming pool with hot tubs and fireplace. There is also the Four Seasons' signature Kids for All Seasons program. 

The look of all three of these new properties -- The Ritz-Carlton/Vail, Solaris, Four Seasons Resort and Residences Vail -- is high-end, mountain contemporary.  Each has its own style and its own collection of signature amenities. You need only contact me (cmiskell@slifer.net) to receive a wide selection of emailable materials about each one.  Better yet, why not plan to come to Vail this ski season and see them for yourself.  I'd love to show them to you.

SSF NEW WRITTEN DEALS FOR OCTOBER

November 26, 2010

My firm, Slifer, Smith & Frampton Real Estate (SSF), wrote 49 new contracts in October (compared to 32 in October 2009).  The value of the contracts totalled more than $63,100,000 (compared to approximately $53,100,000 in October 2009).  When you count the value of new written business to include those transactions where Slifer brokers participated in both sides of the purchase/sale, the number jumps to $92,500,000.

SSF's CLOSED transactions in October totalled in excess of $84,100,000 for 55 deals (compared to $56,400,000 for 42 deals in October 2009).

AVON'S WESTIN RIVERFRONT RESORT GARNERS MULTIPLE AWARDS

November 22, 2010

This is a big one ... The Westin Riverfront Resort & Spa in Avon at Beaver Creek Mountain has been honored as the "Top Resort, Mainland U.S." by Conde Nast Traveler in its 2010 Readers' Choice Awards.  More than 25,000 Conde Nast Traveler readers voted on more than 10,000 properties and destinations worldwide in the annual survey which is featured in the November issue of the magazine, currently on newsstands.

In 2009, the new resort was named to Conde Nast Traveler's "Hot List 2009" as one of the 140 hottest new resorts worldwide.

The Westin Riverfront Resort & Spa has also been honored with the AAA Four Diamond Award for 2011.  The AAA Four Diamond designation is given to less than 4 percent of the more than 31,000 properties approved by AAA.

The Westin Riverfront features 210 guest residences ranging from studio suites to three-bedroom condominiums.  It is connected to Beaver Creek Mountain by the Riverfront Express Gondola and offers ski valet service, on-site ski equipment rental, a fly-fishing outfitter, a deli shop, a Westin Kids Club, a Business Center, the Riverfront Club fitness center, Spa Anjalii, a saline-based outdoor pool and three hot tubs overlooking the Eagle River ... and my personal favorite, Restaurant Avondale.

THE SEBASTIAN OPENS in VAIL

November 20, 2010

The former Vail Plaza Hotel and Club opened in Vail Village today in its new incarnation as The Sebastian.  It is the creation of investor Alejandro Marti of Mexico City, and of David Burden, CEO of Timbers Resorts ... and of David's wife, Sandy Burton, Director of Interiors at Timbers Resorts.

The Sebastian is a boutique resort and fractional-ownership residence club. The property includes the following amenities:

-  Bloom, a destination spa;
-  The Library, a year-round gathering place;
-  The Market, a deli and provisioner for sundries and to-go items as well as breakfast, lunch and dinner for owners and guests;
-  Block 16, the property's signature restaurant;
-  Frost Bar, which will offer cocktails and appetizers for owners, guests and the public.  Frost is expected to open December 7th.

CONSTRUCTION at LIONSHEAD PARKING STRUCTURE

November 15, 2010

A new transit station is under constuction at the Lionshead Parking Structure ... on the side of the Structure that abuts the South Frontage Road running parallel to Interstate 70.  Designed to shoulder some of the burden carried by the close-by Vail Transportation Center, it will include an area for local and regional bus systems, charter buses, hotel shuttles, taxi and limousine services, van shuttle services, restrooms, a waiting area, and will provide general passenger (including skier) pick-up and drop-off area.

Ultimately Vail Town Council members hope to construct a Welcome Center on the ski-mountain side of the Lionshead Structure, though at present plans are far from finalized.  This building would include a town information center, retail space, a great room, public ski lockers, valet ski lockers and additional public restrooms. Costs are estimated to run in the $5,800,000 to $7,300.000 range.

FYI, the 4-story new construction you will see as you travel a little further to the west along the South Frontage Road is called First Chair.  It will house 124 Vail Resorts' employees and will have parking, skier drop-off spaces and snow-melted pedestrian walkways along its south and east sides.  It is scheduled to open during the 2010-2011 ski season.