Real Estate Today

I admit it, I am impatient to get to a happy healthy economy, again.  I am ready to STOP this constant negative thinking, speaking, and behavior by the entire Crowd...it is getting old.  So, let's think about the good things in life....hmmm, living in the Vail Valley what is one of "those good things"?  OK, it is a bit of a set-up, the easy answer is ski season!!!

Aren't we all ready for some good healthy winter fun?  I consider that snow boarding, while others may consider it skiing.  Whatever your mode of transportation on the mountain, it is time for snow, snow, snow and more snow.  And, those of us living in the Vail Valley are watching the weather.  We have www.weather.com saved as a favorite web-site.  Or we have the app on our cell phones, or we have it as our home page.  And, we watch the weather on television and read about it in the local newspaper.  However we follow it, or perhaps track the weather, we all have one thing in mind...when is our next snow storm?  We are ready...we want a HUGE storm to bring us that exciting early season snow.  It's called snow fever and many of us are ready and waiting.  It is time to "hit the hill".

My board is waxed, my ski gear is packed in my pack as are my boots, so Mother Nature, hear my call...it is time, my mantra is "send snow, send snow, send snow, send snow, send snow, send snow, send snow...."

Vail Mountain Opening Day is November 17, 2012
Beaver Creek Mountain Opening Day is November 24, 2012 

Rumor Has It...

Rumor has it we are getting snow tonight.  That is always exciting news when living in a ski resort.  But, the first few snows of the season are exhilarating.  I can't wait, as this is one of those in-between-times where the leaves are gone, and Mother Nature is preparing for winter.  The sky is either a vibrant blue with crisp days, or a grey which matches the trunks of the aspens.  So, having a beautiful "big snowstorm" is like having the circus come to town.  And, I can't wait. 

I am trying to control my emotion so that I am not disappointed tomorrow if we just have a few inches of snow.  I want many many inches or a few feet of snow.  I love that initial snow on the ground and fresh cold dry air.  And then, we start the count down to Opening Day.  Oh what a thrill!

If you are planning on a ski vacation this year, it is time to, at the very least, book your accommodations.  It is going to be a busy winter this year.  Last year we had "spurts of snow".  The year before  that we had so much snow that everyone grumbled in May when the snows continued.   But  because we didn't have our normal snow last year,  there is pent-up demand for fun on the slopes.  Opening Day on Vail Mountain is November 14, 2012.  Opening Day in Beaver Creek is November 21, 2012. 

And, when you are enjoying that exceptional snow while skiing/boarding down the slopes, look at some of the beautiful homes and condominiums you are shooshing by....it explains why so many people want to be here and share in our beautiful Valley and the fun life of a ski resort.   Prices are still some of the best we've seen in 15 years and the interest rates are as low as anyone can remember.

It is amazing what Nature provides us and how man has adapted fun to all seasons...happy ski season!

House Hunting in the Vail Valley

I am sure many of you are going to wonder if I have been living on another planet, but last November I discovered HGTV.  I certainly had heard about it.  Many of the Buyers and Sellers I work with would reference it.  Numerous times I would have Buyers say they wanted a "fixer upper" like on HGTV.  During a Sellers' Market I would take them to a "fixer upper" and they would run screaming into the night.  They realized that they were not going to be able to buy a tired worn-out home at a lower cost.  However, in today's Buyers' Market that is different.  Many of my Clients discovered HGTV years ago.  It has been on the air since December 1, 1994, or at least that is what my Google Research tells me.

While I had flipped by the channel of HGTV and DIY Networks while channel surfing, numerous times, I had never spent any time watching the channel.  I couldn't imagine that I would find it interesting.  I am in the real estate business and why would I spend my off hours looking at homes, on television?  I LOVE looking at homes, and can never take a trip without looking at the real estate ads and prices in whatever area I am visiting. But, I just couldn't understand how people become so hooked on "those shows".   Does a home really "show well" on television?

My world changed last November...I walked into my hotel room mid-day, in early November last year, at the National Association of REALTORS Convention in Anaheim.  It was too early to pick up my registration packet at the Convention Hall, and I had been up since 4:00 a.m. Colorado time,  so I was tired.  I had a couple of hours before events started...I flipped on the television.  I thought I would watch one of the business/news shows...HGTV was one of the first channels I flipped to on my way through the channels.  I stopped as there was a charming little cottage being toured by the Buyer and Real Estate Agent.  Well, I couldn't move on until I knew what she was going to buy...then the next half hour there was a Property Virgin aka First Time Home Buyer...how could I miss that?  Then we went to Paris...oh my goodness, one of my FAVORITE cities in this world...I had to see what I could buy there for $2,000,000 and so it went...I spent two hours mesmerized...that evening after dinner, I hurried back to my room wondering what I was missing on HGTV...and that is how my HGTV obsession began...one year later, that is the channel I watch the most.  I don't care if I've seen the show a couple of times.  I love all the Bath, Kitchen, Home and Yard Crashers.  I always try to figure out will the Homeowner "Love It or List It" after a remodel and exhaustive home hunting.  I pride myself on figuring out what the Buyers will buy during the "hunt"...my records pretty good, I 'd say 7 out of 10 times I know what they will buy before they do. 

So what does this have to do with House Hunting in the Vail Valley, you are asking yourselves...well it has everything to do with buying and selling a vacation home in a Resort or your primary residence.  The vast majority of human beings, need their own space in the world, the haven, the hearth, which are both the heart of the family.  Why else would HGTV and other channels, exist?  Our homes show who we are, where we've been (often from the accessories and art-work) and where we are in life's many stages...the young married, new parents, parents of young adults, or grandparents.  Are you  building up to a large home from the initial condominium or downsizing to a small easy to care for condominium from the estate home?  Where ever you are in your stage of life, there is a perfect home for you, in this beautiful Valley.  We have ski-slope condominiums and homes or summer Villas on the golf course.  Whatever it is you are looking for, we can find it.  This is one of those remarkable areas which gives you not only a wonderful recreational experience , it is also mystical and spiritual.  The mountains exhibit the strength, beauty and intensity of nature, while giving us the freedom to relax and restore.  It's worth a visit to find out for yourself...if nothing else, you may just see us on HGTV...believe me, it is MUCH better being here.  Have a good week.

Time to Buy Your Ski Home in the Vail Valley?

A few days ago, I worked with a couple who would like to buy a home in the Vail Valley.  Actually they were thinking on the Beaver Creek Mountain, in Bachelor Gulch Village or Arrowhead.  They have owned here before.  They started by owning a large home in Beaver Creek, then purchased a ski condominium (pre-construction) in Bachelor Gulch and finally a beautiful home in Cordillera which is a spectacular golf community in this area.

Because they have stopped skiing in the past couple of years, they would use it as a summer home and then their family, children and grandchildren, would use it as a ski home.  And, when not in use, they may decide to rent it on a short-term basis.  So we were looking to satisfy three needs in one home.  As often happens right now, they were on-line and picked out several homes to see and then asked me to select a couple of other homes. While they quickly decided what would work for them, and they were able to eliminate others, they came to the conclusion he preferred one on the ski slopes and she found one in a beautiful neighborhood, which is 5 to 7 minutes walking distant from the ski lift. 

While thinking about their options, they had the very normal and often heard question, "IS IT TIME TO BUY?"  They have the normal concerns we have been hearing for the past four years, are the homes prices stable?  Are there still deals in the market?  And what will happen in the last three months of this year?  He asked "where will I get the best  appreciation and make the best investment?"  She said to her husband and me, "Oh you two, discussing investment and appreciation... I want a home which is fun to live in and a beautiful neighborhood which is going to be comfortable for us to spend our summers."  She then asked her husband, "Aren't we old enough not to have to worry about a good investment, can't we just LIVE in it and enjoy it?"

I've given her comment a great deal of thought.  And, of course thought to myself, aren't we finally beyond worrying about the real estate market further depreciating?  I really don't have sage advice.  I simply believe with all my being that the Buyers I have dealt with in the past four years, are VERY happy with their homes, are thrilled to be in our Valley, and they haven't given the price they've paid much thought since they closed on their homes.  They believe they got everything and much more than they hoped for in the homes they purchased. 

The Sellers I have worked with in the past four years, are usually sad they sold; they miss their Vail Valley homes, and a few are thinking of buying here, again.  So what do I deduce from this?  I believe that we currently have some great deal for Buyers.  Ski Season 2012/2013 is 6 weeks away.  And, I believe the world is on an upswing.  I also believe most of the Buyers and Sellers I work with are optimistic abut the next few years, but are afraid to be the first to say it.

Here are a few simple facts, the very exclusive, high-end estate homes, in the Vail Valley, have sold well in 2011 and 2012.  Our high-end sales usually begin first during a recovery, and interest rates are so low I think we may have to go back over 50 years to match another period in history with rates this low.  And, finally, life is short...what is your QTR?  That simply means many what is your "Quality of Time Remaining".  Today's Buyers are buying because they want to make memories with their spouses, children, grandchildren, and friends.   They are here to enjoy as who knows what amount of time is left to any of us.  And, as a dear friend says, the last suit we all wear does not have pockets.

It is normal to have questions when buying a vacation home, as it is never a necessity, and often pure luxury.  However, how fortunate to have the ability to make this choice in life, AND, to be able to give not only the tangible, but also intangible gift to your family and selves.  It really is time to buy your dreams...6 weeks and counting until Ski Season....whoohoo!

Fall in love with the Vail Valley

Even if I didn't know the date on the calendar, I would know it is fall in Vail, Colorado.  In mid-August, the declination of the sun, the cooler mornings, and nippy evenings told me fall was past approaching.  While this September has been of the most beautiful I remember in the past 20 falls.  It is still fall.  Soooooo many people tell me that they love fall; it is their favorite season.  While early fall in this high mountain Valley is FABULOUS, it goes quickly.  Then we have that quiet grayness when the earth, the aspen trees, and the sky are all a pale shade of gray.  They are preparing for one of our fourth seasons.... the lustrous blue sky and white earth of winter.

I struggle with fall, as I LOVE our promising green, sometimes snowy and often rainy springs.  In spring, I can accommodate any lingering snows or rain, as I know that our most perfect summer is just around the corner.  Fall is a throw-back to my school years.  While I loved school, I hated having my freedom nipped and I was back in school wearing shoes and a school uniform.  And, once the leaves fell, it became rather mundane and dreary, until the first snow storm.  I loved that excitement of the first snow.  Nature in a different sense from spring and summer does come alive.  It is at its most fierce and often most serene. 

The excitement of that first big snow fall is unmatched.  Everyone in our Valley gets ready, by going to class for ski fitness training, putting back on those snow tires, placing the snow shovel on the front porch, and getting out the coats, gloves, scarves and hats.  The BEST, VERY BEST thing about winter, however, is getting our boards and skis waxed and ready.  The mountain opens and the vast majority of us remember our reason for being...it is to hit the hill...or to relax and enjoy our most beautiful winters.  This year opening day is less than two months away:  Vail Mountain will open for skiing on November 16, 2012 and Beaver Creek will open the following week on November 21, 2012.  While you are thinking about it, there is still time to buy an Epic Pass for Ski Season 2012/2013...Come enjoy the beauty, intensity, and mysticism of our Vail Valley winters.  I hope to see you soon!  Amy

Why Buy Vail Real Estate Today, March 11, 2011

Unlike two years ago, or even last year, we now have real buyers wanting to buy vacation homes in Vail and Beaver Creek, Colorado...home of two of the world's finest ski resorts.  But, we find few who are ready to throw caution to the wind and buy their homes.  Most  Buyers are very reluctant, and are concerned that they either are not buying at the bottom of the market OR they are buying a home which will continue to depreciate. 

There are reasons for the Buyers concern.  They may live in an area of the Country where the real estate market has not begun to recover, there are huge inventory back logs, and/or the Buyers are wondering how long it will be before their new Property appreciates.  Well, here's a GREAT piece of real estate news, over 50% of the real estate markets in this Country are seeing price appreciation, according to Barbara Corcoran, real estate expert and contributor to the Today Show.

I can't banish any of these worries or fears.  But, I can tell my Buyers that we are seeing the signs of spring, both literally and figuretively.  The Buyers are back and when they find a deal,  a huge deal, we now have multiple offers.  And, they are skiing the slopes with their loved ones and find that this is a wonderful place to share time, fun, and sunshine.  They realize that not everything in life has to make total fiscal sense.  And, I DO applaud those of you wanting to be fiscally smart and savvy.  But when does the fun and emotion come into it?  It isn't always about getting the best of someone on a buy. Some of winning is getting what you want, which means a home your family, friends, and perhaps rental "guests"  will love and enjoy as much or almost as much as you. 

Life has so many wonderful intangibles and sometimes your vacation/second home is just that an intangible experience.  An experience which crosses your mind when you are sitting at your office working long hours at a job you probably love, but you give much of your all to because you do love it.  But, you work hard, and you are often exhausted, and need a respite.  As they say home is where the heart is, but it is also the place you can relax and reflect and some of it is spiritual.  It is about finding yourself and those you love in a place which emotionally becomes home.

So what are you really waiting for, permission to buy something which in the end will have more value not only tangibly but intangibly?  Why not buy that family/generational home where your children and grandchildren will treasure the wonderful memories and experiences they had with you, and will share with their children and grandchildren?  It's all about the Quality Time Remaining...the snow is great, and we have at least 6 weeks of skiing left...come join us!  Life is Wonderful in Vail and Beaver Creek!!

Home Sales in the US and Vail Valley; Vail Real Estate

While much of the United States has a quieter housing market in the winter, Resort Real Estate is typically busy in the winter, whether it is a warm weather or cold weather Resort. Those of us in the Vail Real Estate Market work very hard during ski season. We are always quite happy to do so. And, from looking at the numbers which NAR (National Association of REALTORS)just sent out to its Membership, that is true throughout the Country. NAR's Economist, Dr. Yun, just provided Membership with the following:

Existing-Home Sales Rise Again in January
The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above year-ago levels, NAR says. Existing-home sales increased 2.7 percent to a seasonally adjusted annual rate of 5.36 million in January from a downwardly revised 5.22 million in December, and are 5.3 percent above the 5.09 million level in January 2010. This is the first time in seven months that sales activity was higher than a year earlier. “The uptrend in home sales is consistent with improvements in the economy and jobs, which are helping boost consumer confidence,” NAR Chief Economist Lawrence Yun says. “The extremely favorable housing affordability conditions are a big factor, but buyers have been constrained by unnecessarily tight credit. As a result, there are abnormally high levels of all-cash purchases, along with rising investor activity.”

We have deals in our market, some of which are fabulous deals. Having sait that, in the end it is still about your home whether it be your first, second or third home, it is still your safe haven. It is the place you build memories with your family and friends, and are safe from the storms whether they be snow or emotional. Living in the Vail Valley for most is an amazingly wonderful life. And, now is a great time to buy. Happy House Hunting.