Chateau du mon Reve

Want to own quite possible the very finest home in Vail? This new construction castle is it. This home (if you can call it that) has over 13,000sf and is absolutely the best example of old world craftsmanship in the Vail Valley. The home offers 7 bedroom suites, a stone grotto and spa, a wine cave, wood burning pizza oven, theater, apres ski room,a 35' waterfall and unrivaled outdoor living spaces. You have to see this home to appreciate its beauty and value. The price is more than fair at $14,250,000. Call me for a tour of this masterpiece.

Vail's Nicest Home - Ski In/Out in Arrowhead

I don't usually talk about specific homes offered for sale in the Valley, but this one is really special! Scott Cliver, a renowned local builder, has completed work on the Chateau du mon Reve on Arrowhead Mountain. This home features spectacular views, a grotto, and unparalled intimacy. This is a place worthy of Hollywood entertaining in the Vail Valley. A true ski in/ ski out experience for all of your family and friend. It will take a special buyer to appreciate the old world craftsmanship found in this home.

Solaris secures $325 million in financing

Good news for the Town of Vail and it's newest flagship development! Peter Knobel, the developer of Solaris, has secured the financing necessary to complete the project. Solaris is slated for completion during the 2009/2010 ski season. It will be a much needed "town center" in the Vail Village offering an ice rink, movie theaters, restaurants, shopping and luxury condos.

Time to Buy Real Estate in the Vail Valley

If you are considering "pulling the trigger" in the Vail real estate market, the time has come! July and August have been very strong months. If you try to time the market just right and wait for the "bottom", chances are you'll miss the opportunity. How lucky have you been at timing the stock market? There are deals to be had, particularly in the markets where supply is looming, like Singletree. As always. well priced homes that show well and are marketed properly will continue to sell fairly quickly. Remember that historically, since 1990, homeowners have received an average of 4.6% on the national level. Anyone here knows we've fared substantially better. Also, don't forget about the tax implications of owning primary or investment homes. Once you figure in the lack of capital gains and the depreciation and expense factors on investment property, your returns can go up significantly. If you want more statistics, speak up!

Helpful Names & Numbers in the Vail Valley

Looking for a good resource for service providers in the Vail Valley? Look no further than your Vail real estate agent. Send an email to: sondraslappey@earthlink.net and I will gladly forward the list to you!

Eagle County/Vail Valley June 2008 Real Estate Numbers

The June numbers are in courtesy of Land Title in Vail http://www.ltgc.com/home/

Year to date, Eagle County topped the $1 billion mark in real estate sales and has an overall average sales price of $1,345,476. Lionshead has been the main contributor thus far in 2008 with 68 transactions and more than $228 million in dollar volume. The primary reason for this is the completion and closing of the Arrabelle project in the newly constructed LionsHead arcade. http://investinvail.com/listing_detail.php?property_id=19

Beaver Creek has the second highest dollar volume year to date and seems to only be gaining in popularity as the construction in Vail continues.

June highlights:
There were 96 multifamily units that sold for an average price of $1,217,563
There were 8 transactions over $4 million
Lionshead had the highest dollar volume, $68,860,000, with an average sales price of $4,050,588

Vail's Strong Rental Housing Market

The rental market in our area and other resort locations is very strong with rapidly rising rental rates. We have seen rents increase over 20% in the last two years in the Vail Valley. The woes and worries in the mortgage market have made it more difficult for lower end or first time home buyers to purchase real estate. As a result of this, more people are currently renting homes which is creating strong demand. The supply of rental housing in resort areas has diminished precipitously as the price of real estate has escalated so quickly in the last few years. With starter homes in the $400,000s, who can afford to buy right now? Affordable housing continues to be the "hot topic" for many resort areas where the number of service jobs is increasing but the availability of rental housing is just not sufficient. The average price for a lower-end rental is $700-$900 per bedroom. Being on the bus route and accepting pets are sales points which will likely raise your rental rates further.

Buying Opportunity in Vail - Is it Time to Buy?

The Vail Valley real estate market is actually seeing some foreclosures and not just in the time share market. Upscale neighborhoods that were thought to be immune to the national housing disaster are showing signs of weakness. The average equity in a home in the United States has fallen to 46%, down from 60% last year. The number could go lower if housing values continue to fall in Vail and in the rest of the country. "Most mortgages made between the fall of 2004 and the fall of 2007, the majority of them are underwater," says Mark Zandi, chief economist at Moody's. If you'd like to link to the Eagle County website for foreclosure information, visit
http://www.eaglecounty.us/publicTrustee/ If you are experiencing difficulty and fear foreclosure is eminent, please contact a qualified real estate professional and call the Colorado Foreclosure Prevention Hot line at 1-877-601-HOPE (4673). If you have interest in purchasing foreclosed homes, give me a call at 970-376-8000.