CNBC picks Vail area home for "America's Most Impressive Ski Homes"

It's official, the Castle of My Dreams at 2195 Cresta Road has officially been named the #6 Most Impressive Ski Home in the US. A true ski-in, ski-out home on the slopes of  Arrowhead, this chateau offers the absolute finest in amenities and craftmanship.

http://www.cnbc.com/id/34977253/site/14081545?slide=6

Intimate spaces are found in this 13,700sf masterpiece including a warm hearth room and a kitchen large enough for the entire family. A wood-fired pizza oven and butler's pantry add to the enjoyment of entertaining as well as two dining area options, a casual area and an impressive, fire-side formal room. The mountain views abound from the expansive living room. Entertain your family and friends in the gaming area on the lower level complete with a lengthy stone bar, a wine tasting room, card area, pool table, living room and movie theater. Of course, no ski day would be complete without stopping in the apres-ski lounge for a cocktail and then taking the elevator down to the private grotto and spa also complete with fireplace.

The master retreat is like no other with his and her closets, water closets, and a dual-sided walk-in shower and generous tub perched high atop the Rocky Mountains. A large private deck, fireplace and intimate reading area complete the suite which is privately located in the home. Six additional bedroom suites and custom bunk areas for children offer a place for everyone to gather and make memories for a lifetime.

http://www.arrowheadskihome.com/

For outdoor living enthusiasts, the 25 foot waterfall crescendos next to the enormous outdoor patio. An entire party could be held outside as the exterior living area wraps around to the front of the house where there is the most incredible, 360 degree view home office or gym. This light-filled, heavily windowed area can also be accessed directly from the master suite.

State of the art efficient systems are in place to reduce maintenance. An oversized 3-car garage and spacious entry area keep everything organized and in place.

The Arrowhead community features the Country Club of the Rockies with a Nicklaus designed golf course and unparalelled social and cultural activites. Ski to Beaver Creek or Bachelor's Gulch right from your back door. Come see why this home was named to "America's Most Impressive Ski Homes." Your private showing can easily be arranged.

Gauging the Vail Real Estate Market with Real Numbers

Buyers and sellers are always asking "How far is the market down?" and "Have we seen the bottom?" Sorry to say folks, but I have to say no. I do have specific statistics on the decline that I would like to share.

I have always used the Sunridge Phase 1 and 2 complexes to guage the lower end of the Vail Valley Real Estate market for these reasons. The complexes are very large with over 200 units, the product is fairly homogenous (I use only the 2 bedrooms which are all 768 square feet), there are always units for sale, and the data is readily accessible. In looking back over the data from the last 5 years, here are the highlights:

•      - 2006 was the best year in terms of volume with 44 units sold
•      - 2007 offered the highest average sold price of $316,70
•      - From 2003 to 2008, the sold price averaged 98% of list price

That was the good news. Now, let's look at the current market environment.

•      - 2009 offered only 4 sales at an average price of $256,375 (down 19% from the 2007 high) 
•      - 2009 showed the average cumulative days on the market to be 110 (up 47% from 2007's      75  days)                                                                                                                                   
•      - Presently there are 11 active listings. Based on the 2009 absorption rate, there is a 33 month supply of Sunridge units.                                                                                                             

Therefore, in order for the supply/demand equation to move toward equilibrium, either the demand must increase or the supply must decrease. Both of these factors lead to substantial price declines in my opinion. Yes, the homebuyer tax credit extension is helping, and yes the low mortgage rates are helping; however, these factors alone will not spur demand enough to prevent further price declines. This same analysis can be used on higher end properties and I will provide something along those lines soon.

Given that my job is to help my clients buy and sell their homes, I want to convey the truth about the market and present viable options for achieving real estate objectives. With sellers, that truth is to lower your price in almost every case and for buyers, it means to take your time and hunt for a bargain because so many exist. Sometimes no one likes to hear the truth, but generally, people do not hold it against you.

Arrowhead Ski Home Makes the Top Ten Most Spectacular Ski Homes

http://www.arrowheadskihome.com/

It's official! Chateau de Mon Reve (The Castle of My Dreams) has officially been named to the Top Ten Most Spectacular Ski Homes. This ski-in / ski-out home in Arrowhead has every amenity imaginable including a large grotto and spa, magnificent kitchen, old-world bar and wine room, theater, apres ski lounge, elevator, home office with 360 degree views, and much more. This is the perfect home for discriminating buyers with refined taste and appreciation for exquisite craftsmanship. See why this home made the Top 10 list. Schedule your private tour today by calling Sondra Slappey at 970-376-8000.